Advice for Undergrad
I'm trying to decide if I'm right for--or rather, if there is a role for me--in i-banking. Please tell me what you think.
Basic profile:
>3.5 GPA at strong target school, not HYPS >History major, Econ minor >Solid internship, but not in i-banking >Network at most BB firms >Strong interpersonal skills/interviewing >Lots of leadership
More importantly, (and what I'm concerned about) my personality:
>More of a conceptual thinker than a quantitative one >Intellectual -- enjoy intellectual deliberation >Very social, but rarely a d-bag >Demonstrative: I'm very good with presentations, with people, etc. >Extremely hard worker: the type of schmuck who gets excited about the analyst horror stories >More interested in the path than where it leads. In other words, I'm not in it to get out after 10 years/$10 million.
If that leaves you wondering why I'm interested in finance....
>Strong interest in economic/financial development >Drawn to the culture of certain firms (More the "work your ass off and be damn proud of it" than "models and bottles/BSD" ) >Want to be where the action is >Want to gain quantitative skills (models/valuations) necessary (or greatly beneficial to) PE/consulting > Want to get my ass kicked by a two-year analyst program-- seems like a good way to start a career, and get into business school >Strong interest in EMs & energy
Is there a place for me in i-banking? Are any of my presumptions wrong? Suggestions?
Thanks for any help
Apologies for the length
Just going into banking. There is no one set person. You are not D bag enough for sales so cross that off your list haha.
Get some internships to overcome that History major. What type of history might I ask? Make sure your EC's are strong and you know your fundamentals. Go get an interview guide or something so you know the basics. You will probably get off easier since you are a non finance major, but you will still need to know the usual stuff.
You sound like a perfect little junior banker monkey slave .
Where there's a will, there's a way.
Actually my history major will be specifically focussed to something in Econ, so maybe that will help? (Will definitely play into my "story")
I'm going into my Junior year, and I've got one internship finance-related, and otherwise my resume doesn't scream banking but I realize that's something I've got to work on.
More concerned with fit though -- do you have to be a d-bag? Do you have to think being a BSD is cool? Do you have to want to be Bateman?
Do you HAVE to like (love??) math? I dont mind spending 2 years crunching numbers and starring at an Excel spreadsheet, but only as a means to an end.
Thanks for the help
1) Patrick Bateman was a shitty banker. I absolutely love the movie and the book even more. Unlike most people I enjoy the allusion and minor themes more than the banking aspect. If you recall, Patrick was not a monkey, he was a VP whose dad ran the firm.
Wall Street is another idolized movie that is completely misinterpreted. Bud Fox is more a representation of Institutional Sales than IB.
2) You have to be able to work long hours, shut your mouth when you are asked to do menial things repeatedly and basically suck it up. Go read M&I's website to see how much math is involved.
If you ask me, you are putting way too much thought into it. Most people just want to make a lot of money so they go into banking. As has been mentioned non stop on this board, banking at the Analyst level is formating and excel modifying. If you are passionate about the markets I would push you in the S&T area. There is no personality that fits, a lot of people go into banking for whatever reasons.
Bottom line is you have an interest so go do it. Just do well on the interview and you will be fine. The guy hiring you isn't looking for the next rain maker. He is looking for a kid who will be his little bitch for 2 years with the hopes of cashing out.
Major shouldn't matter too much if you network well and can show recruiters that you pursue a keen interest in Finance. Start networking ASAP and get a good set of contacts in your address book.
leverage your BB network to try to get an summer internship. you'll know after 10 weeks if IB's for you. if it isn't, you'll make some good cash and have some war stories to share.
Gosh Steve, thank's so much for the advice on penny stocks!
I get the impression from a lot of people that there is a particular type of person they are looking for-- Pre-Biz or Econ major, president of the investment club since he was 8 years old, been trading since he was 7, dad's a d-bag banker too, unintellectual, only cares about money (although he's smart enough not to admit it), doesn't give a crap about his co-workers, never really took "interest" in school just did well...
Is this a false impression?
Et est quod eos perspiciatis et occaecati. Fuga aut eveniet debitis repellendus.
Autem veniam dolores molestiae. Nihil veritatis dolore error voluptatem. Quo aut fugit culpa quia impedit est est dicta. Eligendi dolor architecto exercitationem praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...