9 Comments
 

It happens frequently within BB IBs -don't listen to any douches who say otherwise, they are elitist jerkoffs who dont know any better.

IF you're sharp, articulate, driven, WELL informed and can add value in some respectable way, you will be noticed and have opportunities.

Best Response
boozerSomeone explain to me what middle office is? I thought there was front office (brings in money) and back office (doesn't bring in money). I don't think it matters how fancy the title or department name is, you can't get "promoted" from back office to middle office.

I always think in terms of profit and cost centres, but I do hear risk management referred to as middle office. From that, there are more opportunities to move from RM to DCM or the like.

 

^ spot on.

In one of Drucker's follow-up books he made a comment that he wished he never coined the terms profit center and cost center.

In his own words --- "Although I invented the term "profit center" 40 years ago – one of my lesser contributions – a subsidiary of a division is not a profit center, but a cost center. The only profit center is the customer. Until the customer has paid his bill, there are only costs, and until the customer has come back with a repeat order there is no customer."

I personally think most people should work at a small firm at some point in their career. It makes you appreciate all of the roles in the company.

 

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