Disconnection from reality
I must ask because I have been around for one day and I have read numerous posts that are very misleading, misinformed and border on idiocy.
Do many of you actually work in a front office position? Or do you simply repeat the same misinformed info from older posts or overhear conversations on the floor?
Why do I ask?
- I am "older" and contrary to belief no one is "too" old for an analyst program. I could rattle off numerous names of MD's who have directly told me this. I have friends who are 30 and older and scored FT analyst positions at BB's, MM's, etc etc
- If you submit your resume through HR, you need a GPA apparently. BUT if you network and you're asked for your resume, a GPA is a big no no and no one cares.
- Why does no one care? Finance is about the "fit" and that Econ or Finance degree you're finishing is completely worthless. If you haven't networked enough to ascertain those important facts, then you have a long, tough road ahead of you.
And no, I am going to get into a e-penis measurement war because it's the internet and I suspect most here are 19 year old's posing as Wall St veterans.
I do (equity research) on the buy side, so I can't comment on the first point much. I suspect that's a bit of specious reasoning, though, at worst and just a lucky sample, at best. At 30 it has to just be harder to break in due to networking constraints as compared to 22-year-old college students. And, at 30, most people aren't as willing to crank out all-nighters when they probably have kids/families, right?
I've never, ever heard that a GPA is a no-no for a networking resume. I guess it could be unnecessary if you are working a personal contact where your academic performance is not important. But I know for a fact that the PMs in my group care about GPA.
Finance is about fit, but it's also about having the ability to do the job. Maybe this isn't true for i-banking, but for equity research no PM is going to take the time to teach you about multiples, valuation, pitching, etc. They want you to make them money and the way you can do that is by having the appropriate academic knowledge which you will then enhance with the real world. Your degree matters insofar that you have the requisite business knowledge to do the job at-hand.
You're spouting the same half-truths and misinformation that you're attacking.
Yes, one size fits all... I could provide a long winded reply to the discussion, but it's apparent that I would be wasting my time.
Has anyone worth their salt said that their is an age cap on analyst positions?
Surely if somebody has a compelling story and can articulate why, when they're 30, they should want a job that 21 year olds are competing for, then that person would be considered. It's just that not too many people have that compelling reason.
I think you might be referencing (re: the age as an analyst thing) comments that were made about someone applying to FT analyst programs post military service awhile back. I think the consensus here was that, yes, in fact it would be more difficult for those people but not solely (or even largely) because of their age. Its more the idea of a ~27 year old veteran going from an O-3 slot in the military to being the low man on the totem pole again in conjunction with the ~26-28 year old associate feeling uncomfortable having the aforementioned person as his de facto bitch.
Hell, I know a guy who made it into Major League Baseball at 34, doesn't make it the norm but, more importantly, it would be irresponsible to use this single data point to advocate or suggest to someone that age won't be a factor.
Dude like any forum you have to take the advice your hear with a grain of salt. Honestly if someone is giving recruiting advice (and isn't a certified user in your field) I approach is as cautiously as stevie wonder navigating his way through a field of mines.
Those of us with stars by our names are definitely legit...
I'd like to think that websites likes this have some actual people in the trenches so to speak, but IMHO, it seems that most posters are posers/idiots like hooked up who show their stupidity and have no business even bothering with a career in finance.
wait... your opening paragraph called us all idiots... then you asked us for advice? Then you call user posers at the end..
and my last problem with you.. if your that old and so smart like you.. why would you even question an analyst program, you should be senior by now..
You go to college to learn the stuff you need in your position (analyst or whatever).... Then, you get a degree and if you have a good GPA it makes it a little easier.. but networking is definitely a huge factor.. its a pretty standard process.. and you probably herd the phrase "its not what you know its who you know"
dont be the guy to make fun of the same people your asking questions to. I am 20 and I'm only and analyst.. I read on here to learn, and only post what I absolutely know.. Your questions do not need experts, they are very elementary, even those so called "19 year idiots know"
WHY WOULD YOU ASK THIS SITE IF YOU SUSPECT WE A BUNCH OF 19 YEAR OLDS POSERS?
you come here like Mr. Know It All, making fun of us like your stuff don't stink, with like five bananas, like your first day on the site firing off questions my sister who is a sophmore business MBA could answer. Your name sounds real convincing too especially since you are trying to ask how to get a job without a GPA.. Obviously yours is pretty low or non-existant
You may be a B schooler but I highly doubt it's worth a crap because your reading comprehension skills put you in 8th grade.
Sentences end with periods and questions end with question marks. Reread my original post because it's blatantly obvious you didn't comprehend one bit of it.
I never asked for advice. I asked a rhetorical question about the legitimacy of some posters' actual experiences in the real world. Your response proves my original point about most posters on here or you're just an idiot who has slipped through the cracks.
my fault I ment to put undergrad.. I'm the MBA student
I have a couple of years of experience in both M&A and AM and, honestly, although I believe that fit and luck are some of the most important things in getting a job offer, its still essencial that you at least know the basics.
If you don't now the moves, you can't do the dance.
More like Ivy League Duster
I discount most users' posts if they don't have a star by the name, or if I don't recognize their names on the forums. Generally speaking, I think most of the people on here are undergrads (often, Ivy undergrads with WAY overinflated egos) who think they know what they're talking about, but most often - don't know jack and won't ever work on the street.
hm i didn't know the stars mattered...maybe i should register
So basically what you are saying is "Its not who you know, its who you blow." "No gas, no grass, no ass, no ride"
It's a public forum. Any jackass can come here and spout off. From what I have read much of the misinformation is corrected by those that know a few things because where else would analysts/associates get to show their prowress and blow off steam to someone beneath them ;-) interns can only take so much abuse!
But thanks for contributing something meaningful. Wait....
I'm a FO analyst at a top bank and I think age is a problem. No one in my class was more than 2 years out of school. I'm not saying no one was 25+, though.
I would rather be a garbage man (at any age) than a 30 year old analyst
this post is so stupid. op, everything you mentioned is just wrong
I want to eat your children!
Nah I'm finishing high school
IvyLeagueVet, all the certified users have sent us e-mails from their work accounts to confirm that in fact, they are in the industry. It has nothing to do with # of posts. It is also pretty obvious (in my opinion) when someone knows what they are talking about and when someone is just talking out of their ass.
I think like any public forum, there is a signal / noise ratio. I would argue that given it's size, WSO actually does an ok job at giving the reader a good chance at picking up on the "signal" portion and finding very valuable information. We have certified users, silver bananas, monkey shit, etc....all with the purpose of indicating what you can expect from a member. For example:
New user with "prospective" selected asking dumb questions = ignore or help out
Veteran user with no industry and not a Certified User = listen but take with a grain of salt (helpful to check and see how many Silver Bananas they have vs. Monkey Shit)
Veteran Certified User = Listen up. The majority of these guys give incredible advice on a daily basis. Sure, there are some certified users that still get a lot of shit thrown at them because they are opinionated and get into debates (mostly political), but I think you'll notice that most of the guys on this board really know their shit: //www.wallstreetoasis.com/karma/top
More on the ranking systems, banana points, WSO Credits, etc. can be found in our FAQ.
Welcome, Patrick
Thanks for the informative post. I have to admit that I never read the FAQ and had no about the importance of a star. I have definitive guidelines to proceed and filter the necessary BS from 75% of posters (with no stars). I like the idea of the bananas as a reputation gauge, but it's apparent that opinionated posters will throw "shit" for no reason. Regardless, appreciate it.
Sequi distinctio qui neque sunt qui iusto. Qui earum est error et omnis. Ullam sunt pariatur impedit aspernatur architecto.
Ducimus sed sit minima et voluptatum. Consectetur et excepturi repudiandae. Consequatur recusandae aliquam nemo fuga eveniet dolorum ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Sit non qui autem rerum esse velit. At eaque ut consequuntur consequatur commodi. Qui vel molestias repudiandae error dicta. Aut perspiciatis earum aliquam minus. Et aut possimus et ipsam. Iusto voluptatem nihil voluptatem ratione eveniet quis quia quae.
Itaque nisi corrupti ipsa reprehenderit consequuntur odit velit. Maxime explicabo ea sed accusamus ipsum molestiae. Ipsa accusantium dolorem in natus.