Answering Questions

While I'm obviously not as knowledgeable as someone like 10xLeverage, I figured I might try to help out prospective bankers by making a thread like this. I received a lot of PMs over the last couple of days and thought it might be beneficial for people to just get that information out into public. I still have a good deal of free time for at least another week, so hopefully this whole thing is helpful.

My information really comes from the following: I interned at a lower BB my sophomore year, went to GS my junior year summer into a great industry group, then decided to leave banking behind. I also learned a lot while interviewing with other banks: I got offers from MS and Lazard as well and went through the process at a couple of other shops (Greenhill, BX M&A). I admittingly don't know that much about Citi, CS, UBS, and DB. Beyond that, I got one MBB FT offer, but this is a finance forum, so that probably isn't too relevant.

Furthermore, I was actually recognized by my career services folk as a distinguished mentor - I took a few kids under my wing who were trying to pulling in SA offers. They did pretty well: 1 to GS, 2 to JPM, 1 to MS (not NY), 1 to MoCo, 1 to PWP, and 1 to McK (this was actually for FT, he was @ one of the aforementioned for his summer). Working with them during their processes and also after/during their summers gave me some insight at these places.

Lastly, I lived with two kids in large cap, super desirable buyout shops during my summers. They were pretty awesome, I learned a lot about the finance industry from them and got some good exposure to their circles as well. They helped mold a lot of my perceptions about the industry.

I actually thought about starting a website that did some sort of mentoring thing (still might) but it's not recruiting season. I figure I can answer general-ish questions on this forum instead. If I don't know the answer to a question or don't think I have the requisite knowledge to give my opinion, I'll just say so.

Comments (23)

 
Mar 21, 2011 - 9:08am

Based on how controversial some of the comments in your earlier thread were, I imagine this should be interesting.

I am permanently behind on PMs, it's not personal.

 
Mar 21, 2011 - 1:43pm

Well, only one thing became controversial - I will avoid commenting on that particular bank any further now that I've said my piece.

I'm actually just taking the rest of the school year off until I begin work. I built a good/great relationship with an alum who is a director at a very, very large PE shop (not KKR/BX/Carlyle though) and that lead to a great opportunity for myself.

I'm still getting PMs haha. Well, I guess it works either way.

 
Mar 21, 2011 - 2:32pm

FOXHOUND:
Well, only one thing became controversial - I will avoid commenting on that particular bank any further now that I've said my piece.

I'm actually just taking the rest of the school year off until I begin work. I built a good/great relationship with an alum who is a director at a very, very large PE shop (not KKR/BX/Carlyle though) and that lead to a great opportunity for myself.

I'm still getting PMs haha. Well, I guess it works either way.

You're taking the rest of the school year off? What does this even mean like you're not going to school because you have a job?

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 
Mar 21, 2011 - 2:37pm

FOXHOUND:
No, just means I finished in December - sorry if that wasn't clear. I'd be crazy to not finish school and probably get my offer pulled as well.

Just enjoying my time, did some travelling and what not.

Yeah, you were unclear. I was going to say hmm interesting individual to give advice...also I thought you said in the other thread that you were done with banking?

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 
Mar 21, 2011 - 2:46pm

Solidarity:
blackfinancier:
I thought you said in the other thread that you were done with banking?

FOXHOUND:
I built a good/great relationship with an alum who is a director at a very, very large PE shop (not KKR/BX/Carlyle though) and that lead to a great opportunity for myself.

haha...

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 
Mar 21, 2011 - 4:14pm

humble_dude:
Can you comment on the process of moving from top boutique regional office (Chicago, SF, Boston, LA, etc) to NYC office or top BB? Is it advisable to do it or not worth it?

Thanks.

This all depends on your situation - how is your experience going at your current bank? If your getting onto cool projects and building good relationships, it's not an automatic yes. Also, lateral hiring is always done group specific, so in a way, you can really gauge if it's worth it to jump depending on your future goals.

I think it's actually more common for people from BBs to leave to a top boutique. BBs do take laterals though - it happens when they under-hire and dealflow picks up. Or when their analysts quit.

 
Mar 21, 2011 - 4:07pm

Well for one, they have a lot of women / had plenty of women analysts. Industrials, in contrast, has very few women. There are a couple of extremely awesome women partners in industrials (Clare Scherrer: http://www.americanbanker.com/usb_issues/118_10/-364098-1.html and Susan Willets - they dabble in other areas too) but the group is predominately men. I don't think it's necessarily a BAD place for women, but I heard very positive things from healthcare women bankers. There were women in industrials, they did great for themselves, it's not really that bad at GS, at least in banking. I think having some baller women partners is a part of that.

It just translates into how people act in behave, things they like to do outside the office, etc. I knew girls/women in TMT, industrials, healthcare, and FIG - no one really ever complained about being a woman, but healthcare was the only group where people actively stated being a woman in that group was just very comfortable. Obviously this can change year to year as new people come in and older analysts/associates head out.

 
Mar 21, 2011 - 6:48pm

Before you guys jump on him for not having started work yet, with all those offers, he can probably offer some people some good advice on getting a job.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
Mar 22, 2011 - 8:27am

In my opinion, just because he doesn't have job experience doesn't mean he can't give advice on getting a job. In fact, I think he may be one of, if not the best source for tips on getting a job, since he seems to have done it very recently and at a high level of excellence.

The only other place would be from the words of a recruiter themselves, but that wouldn't be from our perspective, but from the perspective of the firm.

Went from a poetry major to finance... funny how life works isn't it?
  • 1
 
Mar 22, 2011 - 8:31am

FOXHOUND- Coming from a target, you never really had to look at anything but bulge brackets, but as a sophomore at a non-target with an IBD internship at a boutique already underway, what would you recommend as a more realistic goal: Well-known BB or well-known Boutique?

Went from a poetry major to finance... funny how life works isn't it?
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