Does all the bulge bracket investment banks qualify as a "Wall Street" job?
Does the term "Wall Street Banker" mean that the firm you are employed in have to be literally located on Wall Street? Or can it be off Wall Street?(Like it could be any finance job in Manhattan)
Are all NYC bulge bracket bank corporate jobs considered a "Wall Street" job?
Like: JPMorgan, Bank of America, Citi, UBS, Goldman Sachs, Barclays, Deutsche Bank, Morgan Stanley and Credit Suisse (All Wall Street Banks?)
Also, what if you exited banking and are now in Private Equity or Hedge Fund at a boutique firm? Are you still considered to be a "Wall Street" worker?
asking the important questions
most I've laughed on this thread probably ever. It's worded so flawlessly that I bet OP is serious which makes it wholesome in a way
unreal comment. i love it
Was not expecting the person who posted this question to have almost 1,400 bananas
Would say its less about your location and more about your function but some may have a different opinion
I don't think I've ever come across anyone in real life who says they "work on wall street", unless they were doing it as a bit.
I’ve seen back office and middle office people brag about “working on Wall Street”. Comes off as so cringe.
I for sure can tell you SVB employees don’t work on Wall Street anymore
I’d just say I work in finance. Saying that you are a “Wall Street banker” makes you sound like a douchebag
“Hey guys I’m a Wall Street investment banker 🤓”
I could imagine Ben Shapiro saying this if he went down the IB path
"Well, I work on Wall Street. At Pierce & Pierce. Have you heard of it?"
I don’t think anybody ever says “I worked on Wall Street” unless they’re capricious douches who want to sell you something lmao
Is this a real question…
Nah, you can’t be a Wall Street banker unless you work on Wall Street. That’s why you’ve no doubt heard about West Street bankers, Madison Park bankers, Rockefeller Plaza bankers, Park Ave bankers, Columbus Circle bankers and the like.
are you also running into “confirmation” issue in dating apps? Seems that European banks are excluded from “Wall Street job”, better luck next time
This guy's tinder bio in a few years: "Incoming Wall Street Investment Banking Summer Analyst (Wells Fargo Capital Markets)"
ends up placed in CLT
No, you need to say the street of your bank. If you start at Nomura (野村證券) then you become a 49th Street banker for life. I don’t make the rules.
Lmfao
Do you have brain damage
OP seems to have a genuine question so I'll give a legit answer since I was probs wondering the same at some point in HS as well.
Working on Wall Street = working in high finance in NY = IB/PE/HF. Not restricted by firm size. A MM PE fund or 20-man industry focused boutique is considered "Wall Street." Doesn't have to be GS or BX. There are obviously exceptions with ultra prestigious firms, like if u work at Lone Pine in their Connecticut HQ or a quant fund in Philly or smth then u get the "I work on Wall Street" pass.
Some people that work in ER/S&T feel excluded and like to squeeze their way into the club by saying that they also "work on Wall Street." It's a bit of a grey area but the strictest definition of "Wall Street" likely would not include them so make sure to explicitly ask for their job function/division.
What doesn't count as "Wall Street:" Management consulting, VC, Big Law, back/middle office roles, etc. U will never hear an MBB consultant or Big 4 accountant say they "work on Wall Street" no matter how desperate they wish they were in the big boiz club.
Wouldn't front office Asset Management roles also be considered within High Finance/'Wall Street'? For example, BlackRock is arguably one of the most 'Wall Street'-y firms out there cos of how integrated it is within markets, but by your definition it doesn't fall into that category since it isn't IB/PE/HF/S&T/ER.
NO, wealth/asset management is not, and never will, be considered high finance despite it being "client facing." Front office =/= high finance. Buying index funds, ETF's, bonds and managing 401k's at Blackrock, Vanguard, Fidelity, etc is not what people think of when they hear "Wall Street." U will never hear a BNY Mellon wealth/asset manager say they work on "Wall Street."
However, I will make exceptions for certain actively managed divisions/groups at these brokerages/fund managers that engage in high-risk/arbitrage type activities. Ik that Blackrock, Oaktree, and other asset managers will have certain funds that conduct some sketchy stuff related to distressed investing, emerging markets, etc. so they get the "Wall Street" pass.
Also to clarify, performing "PE co-investments" at Blackrock, Northwestern Mutual, etc. is not real PE and therefore, not "Wall Street."
ER might be a gray area but I don’t see how you can reasonably claim that S&T isn’t part of Wall Street. If anything, most people are more familiar with trading then IB.
ER/S&T are definitely wall street jobs. The average joe knows more about what they do then bankers. Example turn on the tv and you'll hear "The Street downgraded so and so stock to a hold" or they think of traders when someone says investment banking or wall street.
Swing and a miss, thanks for trying "Intern in IB - Cov"
Wall Street = Finance in New York. And I’ll echo that no one ever says they worked on Wall Street unless they are a douche. Worked on Wall Street are words mostly used by the press in context of someone’s career.
or at a bar when attempting to wheel some broad
I'm an incoming intern at Northwestern Mutual and say I work on Wall Street, so I don't see a problem with including the BB/EBs as well.
What's Credit Suisse?
Right. Like saying you work at Lehman.
Recent research in the field of finance provides strong evidence that any finance job located in Manhattan, regardless of whether the firm is physically situated on Wall Street, can be considered a "Wall Street" job. The historical significance of Wall Street in the finance industry and its role as a metonym for the entire U.S. financial sector is well-documented (Johnson, 2010; Greenglass & Arnheim, 2012). Therefore, the argument that "Wall Street Bankers" can only refer to those working for a financial firm physically located on Wall Street is misguided and unsupported.
Opposing views that advocate for a narrow definition of "Wall Street Bankers" lack sufficient evidence and critical thinking. Such views ignore the broad use of the term "Wall Street" in popular culture, media, and academic literature to refer to the financial industry as a whole. Moreover, they ignore the fact that many of the world's largest and most successful financial institutions, such as JPMorgan, Bank of America, Citi, UBS, Goldman Sachs, Barclays, Deutsche Bank, Morgan Stanley, and Credit Suisse, are all commonly referred to as "Wall Street Banks." The notion that these companies are not truly "Wall Street Banks" because they are not physically located on Wall Street is simply nonsensical.
Regarding private equity or hedge fund roles at boutique firms, the argument that they should not be included in the category of "Wall Street" jobs is flawed. Private equity and hedge fund roles are closely related to investment banking and are often staffed by former investment bankers. Furthermore, the work involved in private equity and hedge fund roles often overlaps with investment banking activities, such as mergers and acquisitions, restructuring, and underwriting (Kumar & Lins, 2013). Therefore, it is reasonable to include private equity and hedge fund roles at boutique firms in the category of "Wall Street" jobs.
The evidence is clear that any finance job in Manhattan, including private equity and hedge fund roles at boutique firms and positions at bulge bracket banks, can be considered a "Wall Street" job. The notion that "Wall Street Bankers" must be exclusively employed by firms physically located on Wall Street is unsupported by evidence and lacks critical thinking.
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