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Venture Capital is growing in the Big Easy a good bit. But I'm pretty sure the sheer boredom of IBD doesn't mesh well with New Orleans culture.
Paul Tudor Jones started out as a cotton trader in New Orleans. Eli Tullis fired him for falling asleep at his desk after being out all night partying.
http://www.scribd.com/investmentlb/d/16588637-Paul-Tudor-Jones-Failure-…
[quote=Kenny_Powers_CFA]Paul Tudor Jones started out as a cotton trader in New Orleans. Eli Tullis fired him for falling asleep at his desk after being out all night partying.
http://www.scribd.com/investmentlb/d/16588637-Paul-Tudor-Jones-Failure-…]
Off topic, but thats a great speech, thanks.
[quote=Kenny_Powers_CFA]Paul Tudor Jones started out as a cotton trader in New Orleans. Eli Tullis fired him for falling asleep at his desk after being out all night partying.
http://www.scribd.com/investmentlb/d/16588637-Paul-Tudor-Jones-Failure-…]
That was solid.
IBD in new orleans is super tiny, and strictly energy based. Plus you have to have the right last name/ connections to even get a job.
I'm in New Orleans, and like FutureBanker09 said its a very small and tight market down here. There are 6 shops here that do research and sales trading with investment banking ops, all energy-focused. 5 of those only do capital raising (co-managing secondary offerings and IPOs) and 1 does some advisory work too. All except the 1 that does advisory work are very small teams that dont do any regular hiring. There are a few very small boutique banking firms that do valuation work, fairness opinions and some small-scale M&A, but again they're really small shops and dont do any regular hiring. There's really two general avenues into a good finance job in New Orleans - 1 is to know somebody who works there, and 2 is to go to Tulane and get your foot in the door at one of the firms while getting your degree. I know most of the guys at most of the firms around here and for the most part they're either from New Orleans or went to Tulane and stuck around. Its a great town though, so best of luck.
Doesn't capital one have some legit S&T business in New Orleans. I applied to some Equity Research internship there last year and I networked with a few of the guys in the ER division down there. Might want to check that out...
Southcoast and you get the ER gig?
Isn't Southcoast IBD?
IBD ER S&T full service shop
Do I still need the last name to break in? :(
I mean you really need to go to Tulane or start networking hardcore in New Orleans because most of these places Southcoast, Howard Weil/ Scotia Capital, Global Hunter, Johnson Rice, Iberia, don't do any formal recruiting.
Southcoast is one of the firms I mentioned earlier. IBD is only capital raising though, no advisory work.
Got in touch with some folks at Southcoast. Super long shot but why the hell not?
Did you get very far?
No one works in N.O. Best party city in america. Vegas is second rate when it comes to partying. NO is #1
Going to Tulane is a good way, but every year there are 100 kids (mba/mfin/mnrg/bs) trying to get the same 5 or 6 i-banking gigs.
Tulane does have that new Energy MSF program though, seems interesting.
I just took a buy side job with a firm in New Orleans. I just happened to be in the right place at the right time. Opportunities are very rare.
I don't know how big the investment teams for the insurance companies are down here. Pan American and the like.
Tulane doesn't have an Energy MSF, its a Masters Management Energy. The 50-60 MSF students are from China, none of which will land the job. The MBA people aren't IB focused, only a few are. So its 5-6 jobs available for 3-4 people. It's not as cut throat as these guys make it sound. But without being from NOLA, its a tough cookie to crack. Marry a girl/guy from a good family, then you have an excuse to be there. Otherwise, its a crap shoot. There are a lot of one-two man VC and PE shops within a few hours of NOLA as well, even tougher to crack, but still an option.
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