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They are not remote from the modeling lets just say. They will quickly "scan" over the models to see all the monkeys have done the work correctly before it is "client ready"
Looking over the model, making sure things go according to timelines, setting the direction of presentations/pitches. General deal management; some are more involved than others.
Typical good day of an VP in IB:
VP: Mr. MD, your highness, for thou has spoken beautiful words. MD: I disagree. VP: Yes! I disagree as well! You sir are a genius. ::Gets on knees, opens mouth, inserts MD's cock::
Typical bad day of a VP in IB:
MD: What the fuck is this? VP: You weren't clear...I thought... MD: You have to fucking ask! Now I'm fucked! I would've looked like a fucking idiot! VP: I'm sorry, I honestly thought... MD: No, you have to be more assertive, it's already 5:00, I'm really fucked now... VP: I'll have it squared away. MD: Bend the fuck over! VP: ...yes sir... ::MD rapes VP in the ass::
This pretty much sums up what a VP does in IB.
That is fucking hilarious.
It's not funny at all. That's just how it is. Reality is never funny.
HAHAHAHAHAHAHAHA
you made my day
^^^Oh and then after the MD leaves, to make up for his own insecurity, the VP will take an analyst into the conference room and then rape him several times over.
oh dear. that would be you, as a 1st year. does it usually hurt to sit down?
Well, it hurts as much on the inside as it does on the outside.
One thing, you'll learn to wear kneepads during your first week. People don't realize the most painful part is staying on your knees that long (that is if he wants you up on the table, which he usually does because it really gets him off).
they run deal execution, many MDs only run meetings and source deals
The vault guide to investment banking has section on the typical day of a banking VP. I am sure you can find it online. Basically, the VP is the go between between the MD and Associates. They check associate work, assign new work based on the MDs needs. They also have a strong client facing role because they are essentially the MD's right hand man and they are learning what it is like to be an MD.
They don't do shit
at my bank, they also begin to add a business development aspect to their traditional role. I.e., they can now begin to source pitches and try to win business alongside supportive MDs
Yeah this thread turned to doodoo really quickly.
The VP job depends a lot on the group. In leaner groups they might already be doing the same work as an MD, while as in bigger groups they are more the person overseeing everything from a top level.
Banking sucks, I quit..
What to expect as a VP of an Investment Bank (Originally Posted: 01/25/2015)
I am moving to a boutique investment bank from a commercial bank. They have given me a VP title. I have a clear understanding of my role, but is there anything in particular that I should be aware of that I may have missed? I know that I will have analysts under me. Do you have any recommended strategies on succeeding in this role?
Well I'm certainly not that level but around that level you will start having to make your relationships and get your own clients to start producing
Read "Accidental Investment Banker" a) It will tell you everything about what a VP in banking is b) It's generally a funny and fascinating book about how banking evolved into its current transactional form. Any banker who likes his work should read this I think:)
Otherwise congrats!
Second this. It is about a former airline executive who was rung up by his friend out of the blue with an Associate offer when Goldman were looking to build their London office. He was completely thrown into the deep end and ultimately had a successful career, made group Co-Head at MS for Media and Tech. Very interesting read.
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