CFA's and MBA's Are For Whimps
I've been spending a lot of time searching for (stalking down) different people in ER to reach out to lately. During my search I've come across a lot of people from a variety of backgrounds, like guys who are MD's at MM firms or elite boutiques, that went to complete non-target state schools and majored in things like Art History or Political Science. Not only that, but they had no post-graduate qualifications at all (MBA, CFA, etc). How does this happen? I've heard of guys getting shit canned because they failed a level of the CFA on their second attempt, so I'm having trouble comprehending how someone gets to MD with a bachelor's in Political Science from a non-target state school and no post-graduate qualifications.
I'm guessing:
1) Networking
2) Be related to the right person
3) Always succeed at the job you are assigned
4) You started working in ER before anyone gave a shit about CFA's or MBA's (although most of the guys I was referring to looked younger than 50)
Can anyone shed some light on this topic for me?
You have to understand that things were different back then. People could start from the post room to become MDs (i know a guy as GS who did this, heck Bill Gross was the BO kid who clipped the coupons off bonds back in the day). Then you have to realise that most people have the mental capacity to get those letters, and since the gentlemen in question probably broke-in before people cared, their record and performance has carried them through.
You also need to take into account the firing that went on during the crisis, ie, the taking out of mid - snr mgmt, leaving the young guys to gravitate into their positions. For example, you'll find a lot of younger MDs at UBS than banks which rode the storm better.
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