Immature Summer Analysts
I was a summer associate this summer and I will be coming back to my bank next year. The summer analysts in my group were the most immature, self-important arrogant people I've ever met (who just so happen to have the least knowledge and experience of anyone on the floor).
The full time analysts were amazing. The summers consitently interrupted conversations, blew off assignments given by full time bankers, and just had a general arrogance about them. Not all of them got offers which is good.
To the ones who did get offers and are coming back. Guess who gets to have a say on your bonuses during your stint as an analyst. See you ass holes next year. haha
lol! i love this!
funny how analysts say the same thing about summer associates.
"Guess who gets to have a say on your bonuses during your stint as an analyst."
it's like a standard dev of 10-20k dude, get off your high horse.
haha hilarious....though honestly my SA class was great - everyone was down to earth and eager to learn, without any of the egos or pompous school pride
Summer associates are the most useless people in the bank. I don't think there is much of an argument on this fact. The one exception is a summer associate that previously worked in banking...
Funny...because honestly summer associates are the most insufferable people I have ever had the opportunity to meet as a summer analyst.
They don't know shit (sorry but your experience as a consultant traveling to places such as Bumfuck, Mississippi don't make you qualified for banking, so know YOUR role) and forget they are interns.
And believe me the FT analysts don't like them either despite smiling in their faces.
I could smell the delusions of grandeur.
exactly my point. a bunch of 22 year olds who know everything.
10-20k could be half of your bonus next year kid. let me know when you need help getting into b-school.
Let me know when you need help understanding the model that I built that you are claiming credit for. Seriously - a lot of value add. With the exception of a few brilliant associates, I work directly with VPs.
let me know when you get disgruntled because you do my bitch work from day 1 and I make twice as much as you.
crank away on your model while i'm talking to the client monkey.
You sure about that? I'm pretty sure that most 3rd year analysts are making as much if not more than 1st year associates...
I knew after about 1 week as a new associate that the pay packages we got out of b-school were not all that impressive. Both 3rd year analysts and associates promoted directly from analyst to associate without going back to school are clearing as much as if not more than your average new MBA....
oh yeah, and good luck ever getting to a client meeting or ever knowing why you're building that model and what it means... just crunch the numbers, bitch.
Easy to make more then a 22 year old, but keep feeling fantastic about yourself. Analysts are irreplaceable in a firm, associates seem to be the first to go in a down-turn. It all depends on how many VPs they actually need. By the way, you did not and will not be talking to "the client". You might be talking to the client's minions but that is it.
Hard feelings aside, I haven't met you so I don't hold an opinion related to you. Best of luck with your new position.
my whole point is that i'm annoyed that summer analysts think they actually know something.
full time analysts... absolutely. summers? adjust the attitude.
so many times i pandered to the analysts because i needed their vote this summer. i'm going to wreck some bitches weekends next year.
lol coverthis,
You are showing what is wrong with summer associates; You speak of this arrogance, yet show all the signs of unbridled and unjustified hubris.
You take pride in the fact that you can give analysts "bitchwork" next year.
Understand something though:
1) You are a "bitch." When the VP wants to take a dump on someone, it's you. You are not a senior banker; you will be a glorified powerpoint artist with no previous banking experience, begging analysts to show you how the system works.
2) When shit hits the fan, it's your ass on the line, and in this market..well good luck...
2) You are now committed to career in banking, meaning you don't have the career flexibility of those SAs that will be joining you next year. So while you are heading into your 3rd year bitching and moaning, those analysts have the option of heading to the land of milk and honey.
Vent your frustration here and don't take this to the office because that is exactly the attitude that will make your life miserable, not the analyst's life...
Lol at coverthis, your a banking monkey for life.
Sorry I have to take this call its KKR, FYI, they are offering a milli in 2 years haha..el O el
You do realize that most 22 year olds are complete idiots, right? Your immature analysts are rocket scientists in comparison to most 22 year olds. If you didn't have a previous analyst stint, odds are your analysts are more mature than you were at that age ;)
Coverthis, you're a tool. These analysts appear significantly more mature than you.
a milli a milli a milli a milli
that is one WICKED track Mike!!
This is a bit of an interesting thread. Coverthis, I'm sorry to hear that you had such a bad experience with the summer analysts. Just as an FYI -- the analysts have a significant say in what YOUR bonus will be as well. As I'm sure you've figured out, the associate and analyst work hand in hand and are both responsible for producing the deliverables. If you can't develop a strong relationship with your analysts, you're going to find that your life is as much hell as you ancipate making theirs. Oh and just so you know, you don't typically have the power to wreck an analyst's weekend unless you go really far out of your way. Associates and analysts are work do-ers, not work producers.
I suspect you're going to find that working full time is a lot different than it was as a summer.
Yes, in my bank analyst input on associates was just as important as associate input. In fact, I'm pretty sure the overall review from the analysts upwards to the associate class played a large part in contributing to headcount reductions that took place later that year (very unfortunate because he was a good guy, but a terrible associate).
Also, I hope you know that as an associate, "wrecking weekends" can and will backfire on you. Best case scenerio, analyst does all the work while you party, but makes mistakes because you either weren't around to help or were too lazy to check. Mistakes in work = your ass, not the analyst. The associate is in charge of the analyst, and his mistake is your mistake. There was only one associate that I know that legitimately could dump work on an analyst at 9PM every night and go home (I know, I literally did a pitchbook by myself for a week while the associate dumped every single night). He was a direct promote to associate after doing 3 years of banking, and he was incredibly detail oriented. Sorry, associates without the three years of analyst background stand no chance against guys like that.
Stop all being douche bags, if the bank hire associates and analysts it's for a reason, and it obviously creates some value. When I come to my desk before and after training and I have projects to do, it's a summer associate who helps me understand what to do. He never worked in banking, but he helps me no matter what. All the summer associates I have met are great guys, all the analysts in my class are great, all the interns are great. And everybody wants to do well, and help each other out. So peace and love, hug an associate or an analyst and go catch up on that sleep depravation cause it's making you cranky.
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
The Bank where I did my summer stint did a decent job of weeding out the arrogant types, still I think they are common accross all levels of senriority in Finance.
Is it harder to get an offer as a Summer Analyst or a Summer Associate? In my group this year all the Summer Analyst got offers but none of the Summer Associates
It is generally harder to get an offer as a Summer Associate.
i thought it was the opposite. that is, summer associates have to REALLY screw up to not get a FT offer...
No, summer analysts generally have to screw up not to get offers.
Summer Associates are judged more rigorously as a full-time offer effectively means they are committing themselves to a career in banking; therefore, the firm will want to ensure that they will have the capabilities to become good senior bankers years down the line.
Summer Analysts on the other hand will become FT analysts, who many times will only remain for 2 years; therefore, the investment is not as risky.
I think the answer is it depends.
As a summer associate, you are expected to have previous knowledge and experience and really bring something to the table. Summer analysts on the other hand aren't expected to know anything. You're expected to pick it up quickly, have a good attitude, and be willing to work hard. However, at this point a summer associate should have a number of years of work experience (and half an MBA) and therefore is more qualified to make these contributions.
Makes sense given that a FT Associate will cost more than 2x a FT Analyst without a painless way to get rid of the Associate
note my original message where i showed respect for my full time analysts this summer who i admit taught me more in 10 weeks than i learned in a year of b-school.
i'm talking about the summer analysts who interupt, and just act unprofessional in meetings, and act like kids in the office.
the ones i'm referring to... didn't get offers.
about analysts having a lot of say about associates.... some analysts told me all summer about how the analysts and associates go in a room and have a round table at the end of the summer and decide the fate of the summer assocaites. obviously i pissed them all off because i got a job. right?
and by the way... an MD in my group made fun of analyst promotes saying that they are immature and that they are too young and immature once they get to be VPs to win business. anyone have a different opinion?
B/c coming on an anonymous board and bitching about 20-21 yr old juniors in college and how little they make compared to a 26-30 yr old at B-school is the essence of both modesty and maturity. Nice bro.
Analyst promotes are the most competent and professional people in the bank. I know this from experience. VPs are not supposed to be winning business. You are a little off in your facts here.
Actually, even people like Genghis suggest the MBA break; analyst promotes are always brilliant technically but not always great salespeople. If anything teaches you the art of schmoozing and BS, it's an MBA.
VP's definitely try to win some business, as they have to show they have what it takes to produce as an MD in the future. But yes, the priority is taking ownership of a deal rather than trying to source new ones.
Seems like everyone here hates summer associates.
"10-20k could be half of your bonus next year kid. let me know when you need help getting into b-school."
was this directed at me?
"an MD in my group made fun of analyst promotes saying that they are immature and that they are too young and immature once they get to be VPs to win business. anyone have a different opinion?"
if they're 'too young and immature' why are they being promoted to VP? they should just stall out at associate.
VP and higher shouldnt just be a rubber stamp.
I don't hate summer associates. In fact, one of the summer associates in my former group is now a very good friend of mine who is actually helping me with my b-school applications. The difference here is that there was an honest quid pro quo dynamic and appreciation. The Summer came at a time when I was getting crushed at work with 3 deals, and worked on an IPO together, so I welcomed the help.
i hope i'm not this big of a dick in real life but i probably am. however, this thread has been fun
where do you go to bschool?
I'm curious as to when you ever worked on the same deal teams with summer analysts. We made sure never to put a summer associate and analyst on the same deal team. That's just like the blind the leading the blind.
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