Analyst Training Thread: Questions
Hey guys,
Ill be working at a BB that starts analyst training soon. I have tons of questions and Im sure most of you are in the same boat as well. I was hoping some of the older members who went through training could help answer questions because HR literally tells you nothing.
1) Do you get laptops during training or after? I was going to buy a thinkpad anyway but why have 2? For now I just use my desktop I got for senior year. My old laptop is busted and never really had to use it senior year.
2) Whats the dress code for training?
3) What are the hours of training/will you be busy all the time? Or will there be tons of downtime?
4) Is where you live typically close to training? and is it more like corporate housing, ie oakwood.
Thats all for now. If anyone else has any questions please feel free to add to the thread. Thanks!
I'm an incoming analyst as well but:
2.) My firm told us business formal for the first day. I'd wear a suit first day of training and first day on the desk just to be safe.
My question: Do you recommend a messenger bag or something similar for training? I don't think my firm hands out bags FT and I know my firm doesn't issue laptops. Or do you typically keep all of your training materials onsite.
This is for a BB NY Training: 1) During yes but no after (i.e. you are using a laptop during the training classes but don't take it home and don't keep it after the training). Most people bring their own personal laptop to use after training at the hotel if you want to check personal email, etc. However, I know at some banks, you use a laptop as a desktop replacement on the desk once you start so then you would keep it but normally you have a desktop computer at your desk and will have to request a loaner laptop when you're traveling so worth getting a decent personal laptop so you avoid the hassle of requesting every time - maybe check with one the junior guys you met at your bank if it's worth buying a new laptop 2) Business casual (suit+tie on first day but then lost those after a few days; suit+tie for formal events) 3) Was pretty much 9-5 with some evenings for cases (1-2 per week) and a few Saturdays (think was 2-3) - you will have plenty of downtime and people go out a lot to get to know each other 4) Was fairly short ride on the subway from hotel
Summer Priorities This month we asked hiring companies about their priorities for summer associates – and then asked ourselves what this might mean for the industry. Leading indicators are a matter of interpretation, but it's interesting to see that the top priorities for summer associates on Wall Street are all about the fundamentals: providing service and advice to clients – on the front lines and in the back office.
Constance Melrose, Managing Director, eFinancialCareers North America With on-the job training and incredible access, the prototypical Wall Street summer associate has one goal in mind - return to campus with an offer. Capturing that prize may be elusive, about half (49%) of Wall Street firms expect to extend offers to 10 percent or less of their summer associates. That's according to the nearly 160 firms who've shared their expectations on the 2011 class with eFinancialCareers – many of whom increased their class size this year as compared to last summer. While the summer associates will learn how they are progressing over the next few months, we were intrigued by where the hiring was taking place. We asked ourselves – can the hiring of summer associates be a precursor to Wall Street's hiring priorities? Is it a leading indicator? Here are the priorities: • Operations – Operations is a multi-faceted area delivering execution speed and streamlined processes to banking, sales, trading, and asset management. Currently, operations job postings on eFinancialCareers have grown more than 80 percent, as compared to the prior year; • Debt/Fixed Income – After 15 straight months of job postings growth in this category, it's not a great surprise to find this is a summer priority. Interest rate products, credit products and even mortgages are all sourced from this group; • Corporate Finance – Wall Street competes to offer the best advice for corporate balance sheets including share repurchases, financing strategies, derivatives, and cash optimization; • Research – Associates will help generate fundamental research and analysis of companies, industries, markets and economies. In this category, eFinancialCareers job postings have jumped 53% yr/yr; and • Compliance – Former regulators and enforcement officers can populate this department and teach summer associates the complexities of ensuring compliance in a global financial firm. With regulatory reform still being implemented, there will be plenty to talk about.
Sounds like you're working out of a regional office if you've got corporate housing. I'm also starting training at a BB in a few weeks. PM me which bank you'll be at.
Thanks guys for the comments! I have read that M&I article as well, Im not worried about the learning, just in the dark on the logistical aspects of training as our HR has literally told us nothing. I still have no idea where I am going to live though I know it will be provided. Also they have said nothing on dress code, when/where to show up etc.
So business casual during training? I wanted to rock shorts one last time :(
Training for 1st year analyst in IBD BB (Originally Posted: 04/18/2007)
Sort of piggybacking off a previous thread, I'm curious what training will be like. I'm going to be starting at Lehman in July. Is it basically class from 8-5 or 6ish monday-friday? How intense is it? Thanks for any input.
Training is very intense. Make no mistake, it is no holiday what so ever. You will be working 14 hour days at least. You'll probably be working at the weekends as well.
If you are one of the lower students you even run the risk of being fired before you even start working!
esp at lehman where group placement depends on performance during training
wow, this is..unfortunate. i didn't know i'd be "working" during training. by working, i assume you mean working on projects that aren't actually related to live or prospective deals?
You'll be learning what you need to do the job and depending on the training set up they may do a little project to see how you all do.
Training is nothing more then a carrot they stick in front of grad's to get them in. Everyone over here (London) was thrilled when they found out "3 months in new york".
Obviosuly you get shit all time to see the place!
Dude, he's kidding. I went out to drink at 5pm every single day of training. It's a blast. Every once in a while you'll need to do some projects or study for some tests, but it's no big deal. And from what I know, your "ranking" or grades in training don't show up in bonuses, reviews, etc. I really don't think anyone cares as long as you show up and pass everything.
That was my experience. Not 5 pm, but not real late either. I enjoyed it.
training is going out every night, drinking and trying to stay awake hung over the next day
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