Breaking into Banking is NOT Like Applying to College
Mod Note (Andy): #TBT Throwback Thursday - this was originally posted on 1/14/13. To see all of our top content from the past, click here.
I have seen a ton threads like "Chance Me", "Can I get a job at GS with these credentials", and a ton of retarded stuff in the main SA thread.
Listen, getting an interview for investment banking is not like getting accepted into college.
Some people say college is a crap shoot but really, it is more of a sure thing than most people think, unless we're talking Harvard. Anyway, if you have top SAT scores, a high GPA, took a ton of APs and were the president of multiple clubs, you will likely get into a few IVY's or other top schools.
Banking is nothing like that. It doesn't matter if you have a 4.0 in Economics at Wharton, you may not even have a good chance to get an interview at Goldman Sachs. No one has a GOOD chance to get an interview at a top bank. In fact, you could possible have ZERO chance if you don't have the right attitude, resume writing skills, and networking skills.
You could have a 3.7+ GPA and a solid internship and still come away with no offers, and even worse, no interviews. Stop treating this like you're in high school and what you have accomplished academically matters. Finance is about relationships and people skills.
Also, stop the Bulge Bracket BULL SHIT. There are boutiques with better deal flow, exit opportunities and compensation while also providing a better work-life balance. Bulge Brackets are not like Ivy league schools where they are better than almost every other school.
Lazard is better than most of the BBs.
Evercore is better than some of them.
Blackstone, Greenhill, Qatalyst, Moelis. HLHZ, Centerview are all arguably better than most bulge brackets.
UBS, BAML, and Citi are not what they used to be. Many people who know what they are talking about would gladly take Qatalyst over almost any bank sans maybe Blackstone or GS - but even still, it wouldn't be crazy to take Qatalyst.
Then you have firms like Guggenheim, Cowen, Raymond James, Stifel and a ton of other firms which are just as good.
Anyway, what I'm saying is...most of you won't make it if you don't change your attitude and the way you are approaching recruiting. Nothing is certain and NO ONE CAN CHANCE YOU for a job. You could be a dipshit who is good in class, yet you are bad at holding a conversation and therefore, you will never ever get a job in IBD.
So network, study your technicals and practice your story. That's what matters.
Oh, and shut the fuck up about exit ops. If you don't have a job, WHO THE FUCK CARES. Get a job first and then worry about that shit. I know, first hand, that it doesn't matter what group you're in or bank you work at, you can still get into PE or a HF. And this doesn't matter because most of you who wank it to PE don't even know what it is or how a deal works etc. How do you even know you want to do it?
Right, it's because you have no motivation besides what you heard your other friends jerk off to.
And to whoever threw 2 monkey shits at me, GO FUCK YOURSELF, I hope you never get a job.
I can tell from your post history that you are an asshole so of course you would disagree with my post that everyone else has agreed with so far. Your stupid ass GS Accelerated thread is one of the most putrid pieces of garbage I have ever seen and you should feel bad.