Comments (52)

Most Helpful
Jul 30, 2018

I recently had a discussion with a friend from an alt's PR firm about this topic. We spoke about the rise of social media influencers in the financial service industry and how they have the ability to sway the next hiring generation toward and away from certain companies. Think of these large finance meme pages and the influence they can exert over the undergrad and even high school aged finance hopefuls. When Finance God throws up a post knocking Nomura and praising Jamie Dimon to his 80k+ followers, people start to second guess the legitimacy of Nomura and are drawn to JP. Sure, Nomura doesn't have incredible deal flow and has had some instances of outspoken and dissatisfied employees, but does it deserve all of the shit it gets? My guess is no. Companies are starting to take note of this, too, and are hiring firms like my friend's to get in front of this new social media paradigm. By the same token, I think influencers are becoming increasingly aware of the responsibility that they have to educate the younger generation.

TL;DR: Social media influencers are beginning to have a large pull in the financial services community and have the ability to sway hiring trends, and I'd take any knocking/praising of firms with a grain of salt.

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Jul 30, 2018

Those same finance meme pages used to post certain products (JUULs, La Croix, etc) with what I would assume was the same intentions (swaying opinion). Now you have hardos in undergrad sitting in their schools finance labs ripping JUULs, drinking La Croix, and talking about "deal sleds" and they don't even realize how much they're getting made fun of. It's sad but funny.

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Jul 30, 2018
GreenspanAndHam:

Those same finance meme pages used to post certain products (JUULs, La Croix, etc) with what I would assume was the same intentions (swaying opinion). Now you have hardos in undergrad sitting in their schools finance labs ripping JUULs, drinking La Croix, and talking about "deal sleds" and they don't even realize how much they're getting made fun of. It's sad but funny.

Pretty much this.

Jul 30, 2018

You got featured on a fin meme page

My Brother. My Captain. My King.

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Aug 1, 2018

The new Finance Meme sensation reminds me of the undergrad equivalent to what Total Frat Move was when I was in high school. It started out as satire for people already in fraternities/finance and then the undergrad/high school hardos caught on but missed the satire and thought it was gospel. Next thing you know kids in my high school were walking around the school looking like total morons with pink chubbies and Rowdy Gentleman t-shirts, talking about how gay Beta Theta Pi is and how they're gonna go top tier when they rush in college.

Similarly now you have undergrad kids wearing Patagonia fleeces in 80 degree weather, drinking La Croix, smoking Juuls and shit-talking DB and Nomura because they think that's what the cool kids are doing.

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Controversial
Aug 1, 2018

Some HS kid was networking w me a few months back, kid (completely straight-faced), proceeded to tell me how he was looking forward to buying deal-sleds to fit in with the "hardos" at his PWM internship.

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Aug 1, 2018

To be fair, Betas are soft bottom tier cucks. But this is spot on. I was going to use a similar analogy between TFM and Finance Meme pages.

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Funniest
Aug 2, 2018

Hey don't talk shit about Beta. Both of my dads were Betas.

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Aug 3, 2018

The funny thing is, as it starts off as satire, but then the younger generation picks up on it, it actually comes to fruition and everyone is doing it, so it perpetuates. It's almost a manufactured popularity or trend. Kinda interesting to think about.

Array
Aug 9, 2018

Perfect analogy. It's like TFM and these finance spur into a cult

Aug 3, 2018

Every summer associate in my group!

Aug 13, 2018

Echoing this, having worked at Nomura it's again all relative. These social media influencers are literally created to mock and parody certain financial stigmas. These pages make fun of non-targets as well; that shouldn't say non-target students from pursuing finance jobs and internships.

Nomura is fine - is it a spectacular shop with top-notch deal flow? No, they're Japanese by trade and they're currently attempting to grow their North American presence. Does that mean you should be swayed against working there? No, culturally it's a great place and additionally any young person looking to dive into investment banking shouldn't be influenced by a social media page designed to make fun of finance things.

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Jan 23, 2020

Interesting theory but completely wrong. The problem with Nomura is that it has terrible deal flow because it cannot decide whether it actually wants to be in the investment banking business. Over the last 10 years or so, it has tried to build up the business and then completely shut it down numerous times (see 2012 after acquiring Lehman's European and Asian Businesses). They hired a few MDs over the last few years to try to jump start IB, but then announced a $1Bn restructuring and admitted they can't compete. Additionally, it seems that the Japanese HQ and US teams have never found a way to work together.

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Jan 23, 2020
LeveredBetaBoy:

TL;DR: Social media influencers are beginning to have a large pull in the financial services community

How embarrassing

Jul 30, 2018

I could not have said it better myself.

My Brother. My Captain. My King.

Jul 30, 2018

If anything, that means if you can logically think and navigate all the information given to you, you are at an advantage relative to other kids who might've only bothered with "prestigious" companies. Unfortunately, some kids, albeit how smart they are academically, can be quite delusional when it comes to recruiting process.

Jul 30, 2018

Completely agree. Being a young professional adult today means you need to be able to not just source, but also really vet the information you're receiving. I really wish I had known about WSO 5 years ago, can't help but imagine how many pitfalls I'd have avoided during recruitment.

Aug 4, 2018
LeveredBetaBoy:

Completely agree. Being a young professional adult today means you need to be able to not just source, but also really vet the information you're receiving. I really wish I had known about WSO 5 years ago, can't help but imagine how many pitfalls I'd have avoided during recruitment.

The only great thing about this forum is getting advice from people who are in the industry (hint hint, the star in the profile picture).

Other than that, it's just a cesspool of 18 year olds who think they are going to make $250k at Goldman Sachs their first year out of college. Not to mention all the posts of ugrads asking if they should pursue either IB or HF/PE when they haven't even gotten an internship yet.

Self Awareness is key.

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Jul 30, 2018

Eventually, the social media generation will grow up to become the senior members of the industry. In 10-15 years time, the same "hardos" that rip on Nomura because they see it on FinMeme pages will be the ones that are VPs and MDs. At what point will we start seeing the tangible effects (people deciding not to do business with places like Nomura because they have a subconscious preconceived notion in their head)?

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Jul 30, 2018

.

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Jul 31, 2018

ur welcum

"one for the money two for the better green 3 4-methylenedioxymethamphetamine" - M.F. Doom

Aug 1, 2018

I'd work for a Japanese bank in a heart beat if they let me work in Japan. Seems like a cool place to live..

What concert costs 45 cents? 50 Cent feat. Nickelback.

Aug 1, 2018

The Japanese literally have a word for "death by overwork" (karoshi). I'll pass.

Aug 1, 2018

yea they do and if you haven't visited Japan before their government is 100x more strict and involved with preventing karoshi

What concert costs 45 cents? 50 Cent feat. Nickelback.

Aug 1, 2018

One of the most helpful pieces of job-hunting advice I ever received is to choose a boss or team rather than a firm. Even if the wider firm really is a joke, there can still be plenty of resume fodder and money to be made.

Metal. Music. Life. www.headofmetal.com

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Aug 1, 2018

I like this advice.

My dad was a journalist and he shared similar wisdom about reading the news - trust the byline and not the publication.

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Aug 1, 2018

Second this -- might be the single most important piece of career advice. Big companies, even "start-ups" past the 100 employee mark are all the same. It's all people with selfish intentions across a broad spectrum of competencies. There will be shit teams and shit people, everywhere. Look for the diamonds in the rough and you could work for a no-name, completely unprestigious company making a killing and having the time of your life.

Aug 1, 2018

Very accurate.

Aug 1, 2018

All I have to contribute to this topic is that before my current role I was in a role where I dealt with equity research analysts frequently.

The model Nomura sent me for my firm was poorly done. Not only were the assumptions wrong and different from every other analyst but their math didn't even flow due to numerous formula/qc errors in the model. And this was the "final" model that supported their earnings projection and ER report.

Needless to say, I was not impressed.

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Aug 1, 2018

You really can't judge organizations by a particular ER analyst. It depends too much on the individual analyst. For example, in my sector, the GS analyst is really mediocre....don't even know who the MS analyst is...never contributes anything thoughtful....does that mean GS and MS are bad banks?

Aug 1, 2018

Yes and no. The type of people a firm hires and let's represent them is indicative of the firm's quality, IMO.

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Aug 1, 2018

if you dont make at least 100kEU you dont wear sleds, airpods, cufflinks and/or bracers. that's my take

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Aug 1, 2018

What does owning airpods have to do with anything? They're just another pair of Bluetooth headphones...

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Aug 1, 2018

Well deal flow is a HUGE FUCKING deal. It basically dictates whether your bank is making money or not.

Your post would make sense if it said that Nomura had great deal flow so why the shit.

On a side note, there are LMM banks out there that you've never heard of with amazing deal flow. Just because you're not BB, doesn't mean your deal flow is bad.

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Aug 1, 2018

I think you might have taken my point out of context. I didn't say that deal flow isn't a big deal. I also didn't say that non-BBs can't have good deal flow. I was just trying to point out the fact that Nomura specifically seems to be needlessly called out despite other firms having the same deal flow problem.

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Aug 1, 2018

What firms have bad deal flow but are respected??? Any examples?

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Aug 1, 2018

I personally from a semi-target with 3.8+ GPA. The recruiting situation here is, if you are non-minority, non-diversity, getting hired by any MM/foreign bank is considered success. (MUFG, Nomura, Mizuho, SMBC, Daiwa, you name it.)

The population is disproportionately represented. There is no way anyone can easily go to BBs. Most of the people are Non-target and Semi-targets, while only target school kids' voice is listened.

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Aug 1, 2018

Still waiting for these meme pages to advise everyone that Blackstone is still the most prestigious IB offer to get.

LSO till I die baby.

Aug 3, 2018

I think Nomura being perceived as less prestigious is probably due to the slightly worse exit opps. From what I hear from friends (working in a major APAC market (HK/SG), the majority of Nomura's deals are outbound Japanese deals (mostly Japanese PEs buying Asian companies) and this kind of limits your exit options since you are pigeonholed into Japanese deals. Still a great bank though they pay on par/slightly above BB

Aug 9, 2018

What exactly are the exit opps from a firm like Nomura?

Aug 9, 2018

-

Aug 3, 2018

Just want to add that aside from IBD, Nomura's US trading group is pretty fucking good. Does 3.5x the revenue of IBD division and has high market share in a number of products.

Aug 9, 2018

Nomura macro strategy is actually really good....they have had some great market calls recently

just google it...you're welcome

Aug 11, 2018
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Aug 11, 2018