I-Banking Analyst vs Talent Agency Training Program
In my eyes, both of these positions are extremely similar.
Both are extremely competitive, require long hours, provide great exit opps, and provide a fast pace environment. I'm sure there are many other similarities.
The difference is that at the end of the day, your clients are entertainers, not corporations. I am wavering right now whether or not I want to pursue banking (I was a BB SA), or get into "showbiz" and hopefully become an agent.
I have invested a serious amount of effort in getting a solid education in finance and economics, and have dedicated the past few summers ensuring that I could land an analyst gig, but I think that in the end working with celebrities to get them movie deals would be a hell of a lot more enjoyable than working with managers of a corporation to get them the most money for their IPO.
I was just wondering what you guys felt about the whole "talent agent" route and if any of you have any insight/know anyone who has gone through the process.
Honestly, I haven't really heard anyone else on this forum pose this sort of a question; therefore, I think you have to go with whatever makes you happiest, or has the potential to. Based on the way your describing each and see your future, I think you have to go with the entertainment area. If you take the banking avenue, I think you're going to end up wondering what if for quite a while. Go with what makes you happy, and that's that.
IBanker www.BankonBanking.com Articles, News, Advice and More Break Into Investment Banking
If you think Lloyd is the coolest character on Entourage, then I suppose this "talent agency" gig is for you. If you are straight, I'd probably choose a real career.
probably one of the more mature responses I've seen on this forum especially coming from a punk kid with a picture of a dude with a giant nutsack as his avatar. Thanks for the advice dbag
talent agency training program? are they more competitive than analyst programs... probably not. what has more potential... a career in finance.
Llyod did have a MBA from Stanford at the top of his class though, probably could have been a banker with all the shit he takes from Ari, and possibly other unspecified characters on the show.
I think it is possible to be a studio exec or agent without being a lawyer but people versed in the law definitely have an edge.
Contracts, maneuvering legal issues/obstacles in deal negotiations etc. One option may be to try finance for a couple years, go to law school, perhaps at UCLA or USC, take some entertainment business classes either in the b-school or the film school, and relentlessly network. Think that could be a better use of your talents than being Lloyd for a couple years without the transferrable skills to get into a business development role for a studio or e.g. Disney. I'm from LA and you're absolutely right that Hollywood is heavily reliant on personal contacts- so going to grad school in the area could be one way to get the ball rolling on that.
if I were you, I'd try to get a finance internship at a place that finances movies and such. meet as many writers, actors, as you can, develop relationships,pretty much networking the hell out of these people, then try to betheir agent.
work at allen & co
there is one major difference b/w the two choices: in talent agencies, you will not be compensated well until you are a hitter. i've heard that the "training programs" (which are usually mailroom gigs) may even be unpaid. even as a banking analyst, you're still making a decent living.
if you're not independently wealthy, it's something to consider.
that said, if i felt the way you did, i'd still pursue the one i thought i'd be happier in the long run (which sounds like talent agent).
http://www.deadlinehollywooddaily.com/wme-pay-for-assistants-worse-than…
Read the comments.
My favorite:
"...get in, make connections and get out. However, it’s far more difficult these days because all the development jobs at studios or production companies with housekeeping deals have all but disappeared. Seriously, where do assistants go now? There is no more industry.
Kiddies, a bit of advice from a wise former assistant. Get the fuck out. Get into an industry that is growing, rather than shrinking. Get some course work or experience in anything involving new media, emerging tech or gaming. The agency world will continue to shrink as the talent pool will continue to get smaller as agencies don’t want to invest in growing talent. Plus, you’ll be a fuck of a lot happier.
Or, don’t take my advice and be a slave, get an ulcer, get fucked over, sell your soul and your clients, get an STD and die young and poor."
Along that vein of high finance and entertainment, Laurence Fink, CEO of Blackrock, backed and started the record label, Octone Records. This label was most notably responsible for Maroon 5. As one can gather, the band eventually got a big 4 label deal. Not a bad move at all by Fink and his friends.
"Said she loved my necklace, started relaxin', now that's what the fuck I call a chain reaction." —Hova
Considering your background, I would pursue investment banking and express specific interest in the Media & Entertainment Group. Do your research and find out which BB's have a strong M&E group (sometimes Communications is bundled into that group as CM&E). Even as an analyst you will most likely have the opportunity to work with senior hollywood execs (movie producers, CEOs, CFOs, etc.), all of whom will have connections. One of my colleagues worked in the CME group of CIT Group (a middle market shop) and worked on a deal with Joel Silver to finance "P.S. I love You". All in all, you would make great connections, work on interesting deals and eventually have the opportunity to transition into virtually any position you want within the Media & Entertainment space.
I think someone in Entourage mentioned that even the guys in the mailrooms have Wharton MBAs
Idealw, I'm pretty sure thats a crock of shit. I also find it doubtful that a top of his class Standford MBA would be a receptionist at a Hollywood agency.
Financially, I'd say Finance offers the best route. You can be of average intelligence and very hard working and choo-choo along the finance track. Whereas making it as a Hollywood agent is a bit more like becoming a famous actor/actress. Its part ability and part pure luck... and throw in a fist full of who-you-know.
If you do want to go the Hollywood route, I'd advise getting a job at Allen & Co. Work at Allen & Co and get the connex. Cultivate your connections, maybe get an MBA... and come out of b-school hitting up all your contacts. Maybe working at a studio would be a good start considering it would be an easier transition from entertainment banking to entertainment. Then once you have the studio connex, it would be FAR easier making it as an agent.
i love how people are citing entourage as a reliable source of information on this thread. it's a fucking show. the show did place lloyd with a stanford mba, and they did say wharton mba's work in the mailroom...
but i guess since we're going down this road, we also know: 1) seth green is a huge prick who still drinks jager 2) celebrities fundraise through thug-like tactics, a la jason bourne 3) having a jd/mba from michigan is actually a good thing and will turn you into ari 4) firings are best conducted with a paintball gun 5) giselle cooks
I would hesitate to say that Entourage is a terrible source for information Whalberg and Ellin have both said that Entourage is a realistic portrayal of how business is conducted in Hollywood in their experience.
A recent and relevant article: http://www.nytimes.com/2012/02/26/magazine/why-are-harvard-graduates-in…
Rerum ut veniam illo repellat voluptatum eum sapiente consequatur. Officiis molestias cupiditate vel qui minima. Hic et consequatur quod eius facere nesciunt quis. Sunt dolores necessitatibus officiis aperiam rem rerum. Beatae consequatur perferendis veniam non.
Aliquam consequatur repellendus sed aspernatur quia sapiente. Numquam sit perferendis molestias velit quod veritatis. Ullam est quibusdam ipsam et dolorem debitis.
Pariatur impedit quia et at provident. Commodi fugiat molestiae illum quaerat ut et. Occaecati qui eum animi veniam veniam velit.
Voluptas perferendis architecto quibusdam sit nam. Natus aut architecto repellendus earum aspernatur id. Aut odit quas aut tenetur.
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...