WSO Weekly Wrap-Up (3/26-4/1)

In case you missed them, here're some of last week's most popular topics:

Q&A: GS Special Situations >> Founder of a Private Equity Startup
Post By @powers99"

I graduated from the University of Texas at Austin's Plan II and Business Honors programs, and was hired by Goldman Sachs. I worked in the firm's Special Situations Group, analyzing private equity and debt opportunities. Since leaving the firm, I founded Nextvest, which offers sophisticated HNW members direct investment access into private equity deals. Our greatest asset is our advisory team, which includes a former CIO of Citigroup, a founder of the largest PE firm in Asia, partners at the largest US PE funds, and other impressive gray hair.

A Guide to the Good Life
Post By @wilowallstreet"

Think about the purpose of life and where you want to get to. Is it really money or fame, or are you acquiring those so you can really get something else? My goal is to pursue wisdom and happiness. After working on Wall Street and made some money, I know that more money or fancy titles will not lead me to my primary goals, which are happiness and tranquility.

Want to quit, but have no clue what else to do. Anyone have a similar experience?
Post By @lurker2312"

I think I have finally reached the point where I am over not only the job, but the entire IB to buyside career path. There is no reason for me to be sacrificing my health or life, and working 16-hour days on something I am not passionate about, for something that I do not even truly want.

Thank you for your help everyone/ finally decided what to do
Post By @£IB£"

I just wanted to say thank you to everyone for their help and support in making me realize what I want to do in life. I am glad that I realized that I do not want to work in finance (or in any industry) earlier on in life. I suppose that is the beauty of WSO. WSO helps you to make an informed decision when it really matters.

Sort of a Success Story
Post By @Aphex2123"

In my previous Q&A, I did not go as in depth about my past as I am going to go this time. But I think the story will definitely help someone out because it shows that you can accomplish a lot even with massive hurdles to overcome.

Transferred Big 4 Audit -> Valuations within 8 months Q&A
Post By @zxq94"

I recently joined the Audit practice at a Big 4 firm in Canada. Subsequently, I was able to transfer to the Transaction and Business Modelling practice under Financial Advisory Services. Ask me anything.

Why do we lie about how many hours we work?
Post By @Alistair-Clark"

Back when I was in my second year of consulting, I worked with literally the busiest person in the world; at least, that was what she wanted everyone to think. She would rush around the office with a permanent frown on her face, clutching her laptop and a stack of papers. I did not know where she was headed, but it always looked important. A few weeks before the results of our promotions came out, she was let go for poor performance.

Valeant: Stick a fork in it?
Post By @American Psycho"

Valeant had a rough time over the past couple of months and now it is having trouble completing its financials on time. Personally, I think Valeant is trying to hide something. Asking for more time to finish your annual report is like a student seeking an extension for the due date of his/her essay. What are your thoughts? Will Valeant get their report done on time? Most importantly, will Valeant recover?

Why are so many consultants eager to leave?
Post By @DatesExcelModels"

From what I gathered from speaking with consultants, places like Bain and BCG seem like fantastic places to work. People appear to be happy and well-paid— findings that are supported by lists from Glassdoor or Fortune. If consultants are so happy, why is there a culture of staying for 2 or 3 years before moving on from the consulting industry?

B School is a means to an end not a goal in and of itself
Post By @guyfromct"

Has anyone else noticed how many people set attending business school as an explicit goal? It is kind of odd to see people asking things like "Which job will best position me for business school?".