I'm a student at a Canadian University since a lot of Canadians choose to stay in IB rather than move to PE or other exit opportunities, this is also the path I'm hoping to follow. The path from Analyst-VP is relatively straightforward but after that, it gets a bit more complex so I had some questions. 1: Do VPs get fired if they stay in their position for a while? I hear a lot of talk of "up or out" but if a VP is working hard and properly bringing in clients yet he's passed over for multiple promotions, will he inevitably be fired? 2: Where do fired VPs/MDs go? Since it's extremely difficult
10 Jan 2018
So, I feel pretty bad about a coffee chat networking experience I had with an MD/Partner at a BB. I was connected through a friend and met this person at their office. I went in with the mindset just to introduce myself/why interested/ get to know the person - not trying to just ask for a referral or whatever. The person seemed very aloof and seemed like they did not really want to meet with me. The division I know I want to be in is not theirs, S&T vs. IB- and I said I like X division (not their division) very much I think my skills/interests line up with such division a lot better-and I
04 Feb 2018
Hey everyone. I'm a Canadian student hoping to get a FT position in Toronto in a few years and I had a couple questions as to how the industry here works. How often do people in Toronto stay in IB rather than jump to buy side? I heard it's more common to stay in IB can anyone tell me if this is true? Also I hear that promotions are more common in Toronto. Is this more for Analyst-Associate promotions or even for promotions to D/MD? Is reaching D/MD a reasonable goal in Toronto or is it close to impossible what with the smaller industry? And finally, should I stick in Toronto or attempt to get
03 Dec 2017
So...I've been networking a little bit. I've only sent out about 30 emails in the past 6-7 weeks. I've been surprised by how many responses I've gotten back. I think about 12 or 13 people have responded back, 6 or 7 people have responded back with some very good advice. I emailed an MD at a boutique bank in Houston (this was last week). He told me to give him a call (which I did). We spoke about how to break into the industry and how my skills (at my current job) can be useful in an analyst role at an IB. He told me that they weren't looking to add any analysts to their team at the moment but told me that if positions did come up he would try to recommend me. He also said that he will notify me if analyst positions open up at other banks.....this guy was pretty nice, he's an alumni.
07 Jul 2011
Anyone familiar with comp at FTI, specifically for the MD role? I am guessing a new MD is between $300-400k. Thinking of the transactions practice in particular.
19 Sep 2021
Hi everyone! I am a current college freshman and I am thinking about the investment banking-private equity pathway. How hard is it to reach managing director at a private equity firm like blackstone? How about principal director? How often do people get fired in private equity? Thanks!
06 Dec 2020
The following is Part 1 of an interview with WallStreetPlayboys (he is also available to answer your questions) Are you a professional and want to do an interview? View our interview template. What is your current job title and a one sentence description of your primary job responsibility?Keeping it short here, Managing Director or Research Analyst. What are previous positions you have held and how many years of experience do you have?Still keeping it a bit vague, over a decade of experience Undergrad Did you go to a "target", "semi target" or "non target". Attended a Target school however I
10 Apr 2013
Managing Director vs Doctor of Medicine Both "MDs", both at high echelons of their respective fields, which is better? One is responsible for large M&A, the other is responsible for saving lives. Discuss
03 Jul 2021
The following is Part 2 of an interview with WallStreetPlayboys (he is also available to answer your questions). See Part 1 Here. General Advice What is the one tip you would give to current students (ugrad and/or grad students) to help them succeed? Work hard and get job experience. When a résumé hits an inbox they look at school, GPA and job experience. They also run key word searches on the resume so if you have good experience the software will realize it for example "investment banking analyst" is much better to write on your resume than "corporate finance analyst" if you in fact did an
24 Apr 2013
I got the chance to sit down in front of an MD and he told me to follow up with him the following week since he's flying out to a different city and he wouldn't have time to speak with me. I waited until the exact day he told me to follow up with him. I called him twice. Once in the morning, and the second time late in the afternoon and left him a vm. The following morning at 7:30 AM I followed up with an email reminding him of our previous conversation, that he told me to follow up, and that I am doing so. No dice. What do I do now? Should I follow up with an email/phone call once a week
04 Dec 2018
There comes a time when we heed a certain call When The Street must come together as one There are layoffs happ'ning And it's time to lend a hand to bankers The greatest gifts of all… Deep in the throes of wintertime, I tend to listen to my iPod on shuffle mode more often. Maybe it's because my Beats by Dre headphones double as cozy earmuffs. Maybe it's because my eardrums are liable to spontaneously collapse if I am subjected to a minute more of Christmas music. Maybe it's because my taste in music is so terrible I can't fully appreciate the lyrical genius of Beauty and the Beat. Regardless
17 Jan 2013
I thought it could be roughly estimated with just # of MD's hired per year and # of MD's total. #MDs/(#MDs hired/year) = average tenure of an MD. (ie: a firm has 10 MD's, one MD hired per year, means average tenure is 10 years) From this article of questionable reliability: http://moneyistheway.blogspot.com/2008/01/goldman… We see that there are only around 1700 MD's among GS's 35,000 employees (~5%). From here: http://www.wallstreetoasis.com/forums/goldman-sac… We see that GS has hired around 250 MD's per year in 2008, although this number has been rising recently. I'll round down to 200 MD's per year on average to be conservative. That means the average tenure of an MD is only 8.5 years.
06 May 2011
I am a fan of the news. I read as many different newspapers from around the country as often as I can, and every once in a while, I see what amounts to an afterthought that really should have a story of its own. Recently, I came across a piece in the Chicago Sun-Times discussing a possible challenger to Rahm Emanuel for mayor of the city with a pair of particularly interesting, but almost completely unrelated, tidbits. According to the article, the potential candidate, Karen Lewis, president of the Chicago Teacher's Union, frequently rails against the influence of the wealthy in Chicago. The
14 Aug 2014
So I think I get the basics of what an MD does - source clients for deals, such as acquiring a company and provide advice on the deal, for example - but I am still confused on what they do on a day to day basis. When they're on the road, they are obviously trying to sell to the clients, but what about when they're in the office? The younger monkeys take care of all of the grunt work, so what do they spend 40-60 hours a week doing? What types of personality traits are essential for achieving this position and succeeding on the job? Some more insight from folks in industry on their day to day
29 Mar 2012
I was just curious if anyone had any insight or read into when you see a bank (typically middle market/boutique) in which the higher ups vastly out number staff (analyst, associates and vps), I was just curious what implication this had on how I should view a particular firm, other than the staff they do have are probably busting their asses. I suppose two things pop into my head: a.) no barriers to moving up b.) very high turnover. Tia
24 Feb 2016
Someone I know started go get drinks with her bosses every single night. After few months the managing director tried to kiss her and she said no and let her go. She told her other boss about it and told him not to report it but later she hired lawyer to sue the company. The company fired both managing director and the senior vice president immediately. She still wanted money so the company paid her few hundred thousand dollars. Is that really a harassment if she wanted to go out with them alone every night?
16 Oct 2018
We all know finance jobs are demanding and people constantly work long hours to slog through copious amounts of models and presentations. I didn't realize, however, that some MD's seem to think that they are also babysitters as well.
A first-year analyst in sales and trading at a major bank told Clusterstock that the head of his desk will call the office every night at 10 pm to check that he's still at the office working. "He usually calls the associate, and I can hear him asking 'Is ****** still there?' to check that I'm working," the analyst told us.
20 Jun 2012
I'm going to purposefully leave out some details from this post to avoid being "outed". I had an interview the same day I handed my report to an MD of a notable bank. An hour after handing it in he emailed me asking me to meet with him for 30 minutes. When I was about to meet him, the first thing I noticed before I sat down was how there were a lot of notes and circles and scribbles on my report (which I handed to him 6 hours prior). (Note, this report was a thematic industry and equity research report that I have been handing out to showcase my competencies and skill set). Anyways, I talked
12 Dec 2018
Much maligned and oft misunderstood. The Investment Banking Associates. To many analysts they are the deadbeat hippie embroidery/glass blowing double majors who decided to get their acts sort-of-straight and become investment banking lifers with no better Buyside tomorrow ahead of them. To the establishment higher-ups they are the next potential generation of BSDs, making it rain and providing the IB its own form of Future Value. However you slice it, being an associate is almost unavoidable in high finance. Whether you're in it for the long haul or looking to jump elsewhere, one thing is likely... Wherever you go, whatever you do... this may certainly await:
19 Sep 2010
I was offered a lunch with one of the managing directors from risk management. I was going to network my way into investment banking or PE sometime during my analyst career (I am in risk management) and still feel very strongly about it. Should I accept the lunch offer? If I do, how do you think I should behave myself? Is there any reason for me to mention my goals? Is there a department in risk management that deals with i-banking more than the others? Any feedback is appreciated.
21 Jun 2010
Do senior bankers attend events suchs as : The World Economic Forum in Davos Consumer Electronics Show in Vegas Any other events related to a specific industry or business/finance events Do you know any others?
23 Jan 2018
Hello fellow monkeys I got a question for you. I'm in my last year at a top business school in Canada and I'm fairly sure I'll secure an analyst position at one of the Big 5s in Toronto or maybe even Calgary. My dream finance career would be an MD at one of the Big 5s and I was wondering how realistic of a goal this is. What are the chances that an analyst could work his way up to the MD position at a Canadian bank without getting laid off. Since most people choose to stay as career bankers here,the chances would most likely be higher than the state's right? Is my dream realistic in your
24 Apr 2018
Last week, I went for an interview with Rothschild Global Advisory for a long-term internship in Brussels, where I got interviewed by 5 different people who were all either analysts or assistant directors. The MD was out of town so I did not get interviewed by him. The interview consisted of both technical (walking them through different models) and personal fit questions. Yesterday I got a call saying that the MD would like to invite me over for a personal interview with him. Is this to give the final go-ahead and offer me the job or should I see it as a 2nd round interview with more emphasis
04 Apr 2018
Does anyone have any insight into what this group at MacCap does? Seems like some sort of internal strategy group; any work on live deals or internal M&A? Most of the people in this group are ex-IB seniors, i.e. MD of this group in EMEA was ex-COO. How hard is it to get into this group and could you exit into IB after? Also if anyone has any insight into mobility within Macquarie e.g. from IB to MIRA or from this group. Any info appreciated. Cheers guys
14 Sep 2020
After about a year on this site I've noticed that there are very members who are Vice Presidents, Managing Directors, and Partners. As far as those in PE and other things I see a wide range of users at different positions every now and then. Are there any current analysts/associates who plan on staying through MD and possibly higher? I've read the hours get better as you move up, so it's not like you work 80 hours the rest of your life. It's just surprising to me how few people actually want to stay.
16 Aug 2013
Christmas might come early to Wall Street this year . WIth higher taxes in 2011 and beyond a distinct possibility, Wall Street banks are looking to do right by employees and pay out their bonuses before the anticipated IRS onslaught. So what is the general future of banker bonuses? It's easy to say that this is a one time thing, but with the feds continuing to breathe down Wall Street's back like a lames on necks in tight elevators, is it time to rethink the bonus structure? Self regulation has always been less painful than federal intervention.
31 Aug 2010
Have superday coming up and two of my interviews are with MDs. Want to know what is generally the norm when speaking with MDs: is it okay to refer to them by their first name only or should you use Mr/Mrs in front? Thanks
21 Jun 2020
I was wondering how important is GPA in terms of getting through to the superday? Here is some context. I go to a target school, and am majoring in Art History with a GPA of 3.6. A MD was kind enough to vouch on my behalf, and I think I have a high probability of getting the Superday at the BB. However, I was just worried that my low GPA and my non-finance background could put me at a significant disadvantage when it comes down to who makes the cut? How much power does the MD have in terms of pushing me to "make it" through the Superday even if the associates/analysts/VP interviewing me may prefer another candidate?
17 Dec 2012
Hi guys, Quick question I've been pondering- since at Goldman you can become a partner at the top level, does that make it impossible to reach such a high income at other firms? Would regional/industry heads at other BBs/ top boutiques be making similar money, or does GS partnership give you a serious income boost? afroman23 p.s. This isn't to help me make any career choices, I'm just curious
20 Dec 2010
With the coronavirus lockdown in full force, the mind has more time to wander on random thoughts you've had but haven't bothered to unpack quite yet. As an Analyst, you're the fulcrum of everything which comes through on a transaction. Building/updating transaction models, research, drafting pitchbooks/prospectuses etc. Sometimes you can plan your work around clearly defined workstreams, other times you get given something on short notice, is urgent and needs to be done ASAP. So your role and mentality is very much focused on the day to day, technical work and you often can't afford to think
15 Apr 2020
wouldn't a portfolio manager funning a fund at a bank make more than a MD in investment banking? comparing a goldman fund vs goldman md or William Blair (for mm) fund mangaer vs blair md
03 Mar 2011
Which would you rather be? A US Senator or an MD in IBD at a BB? How about other political appointments like Congressman, Governor, or Mayor (e.g. of NYC)?
25 Jun 2010
What firms, besides Goldman Sachs, fast-track employees? What firms are willing to promote Analysts to Associates after only two years, rather than three years? Same goes for promoting Associates to Vice Presidents after two years.
21 Jul 2011
Dear Investment Banking Forum, I would like to ask everyone who has a couple of minutes to view my LinkedIn profile and give me their honest opinion whether I have any shot at getting an investment banking analyst job and how best to get it. https://www.linkedin.com/in/arjanamiri Sincerely, 1 Billion Bound Stallion
04 May 2016
I have yet to commission a full-fledged study, but I would bet the two most popular questions on WSO are: 1) How do I break into IB from a non-target? 2) Here's my resume, what do you think? So many different responses, so many times a person told "use search function" and still we have yet to come up with a perfect formula. Since we never will, here's a reminder of two small props that can help on your way. The hands and the eyes .
10 Oct 2010
Have you ever asked yourself if my job didn't exist what else would I really enjoy doing career wise? Or have any of you ever thought about pursuing other interests possibly post MBA or after you have some finance experience on your record?
20 Mar 2011
Not sure if folks are following the Sage Kelly divorce and the accusations that the wife is asserting, but I'm a bit more interested in the guy's bio. I'm always interested in what the educational and career path looks like for the guys that make $7M / year as a managing director. However, I have found it difficult to undercover that with respect to Mr. Kelly. Does anyone know his history?
31 Oct 2014
monkeys, With recruiting season approaching I have begun cold emailing bankers trying to set up meetings in person and/or phone conversations. I happened to get a response from a MD in a respected department at a BB. I'll do the usual look up this guy's info online and find as much as I can about him, but what questions can I ask him to truly stand out (save the sarcastic comments unless they are absolutely hilarious). also, if you have a good story about how you met and befriended a BSD please feel free to share
03 Oct 2011
Here are a series of videos that I found on youtube where McKinsey's Global Managing Director, Dominic Barton, is being interviewed. http://thepoppedkernel.blogspot.com/2010/02/conve… His journey to the top is really quite interesting. Perhaps his insights might be helpful for all those aspiring monkeys out there.
20 Feb 2011
Hey does anyone know what the comp difference is at a VP/MD position when at a BB in NYC vs when at a Big 5 in Toronto? How much would a VP and MD make at Goldman compared to RBC for example? Thanks
16 Apr 2018
Is there generally any advantages to networking with Analysts? The only advantage I see is if you hit it off with them, they can refer you to an Associate, VP, or MD. So, essentially, to work your way up the ladder. I know at smaller boutiques, Analysts are the ones that review resumes and make the shortlist, but is it the same at BB's as well? If anyone has any advice, I would greatly appreciate it. Thanks and God Bless!
10 Apr 2013
Hi all, I've recently joined WSO and already have come up with some questions hoping to get some advice on... I'm meeting with a Managing Director of a BB bank on Monday over coffee. I'm recently graduated with a BA in Finance and networked my way into this one. I'm unsure of what to expect when meeting with this person. How much technical knowledge vs just getting to know one another is this, has anyone had this type of experience? I am looking for a finance job out of college, not exactly sure which sector S&T or IBD I'm really drawn to. This guys in S&T, obviously I should fine-tune my knowledge regarding the company and S&T positions to show passion why I want a job... Any other recommendations? I would appreciate any and all info.
20 Dec 2013
Could anyone give me figures about their overall compensation starting from Associate, VP and going up to MD in Toronto? At BIG 5, Bulge brackets, and Boutiques to compare them all I'm guessing VP's go at about 450k to 650k , Directors 650k-1M, MD's 1-5 Million (Do you think one could attain anywhere between 3 and 5M ?) And do you think Goldman Sachs pay the same across border? And more then the Canadian 5? Is it ''common'' to see senior bankers making in the millions in TO? (I'm talking 3Ms or more) Or is it so rare that you would be considered a superstar banker? Would you choose TO or NYC
25 Feb 2018
More specifically could a VP who's a good worker and bringing in clients not make it to MD since all positions are filled and he's passed 3 years? If so would he have options like getting hired into another bank or is he screwed since he had no exit opps?
25 Apr 2018
Anyone aware of REAL salaries in Toronto? what is the compensation for every level? I'm inclined to think somewhere around these numbers: ALL IN SALARIES Analyst (1-3 years): min- 130k & max-185k Associate : min- 220k & max- 320k VP: min- 400k & max- 650k Director: min-650k & max- 1M MD: min- 1M & max- 3M What do you think? Feel free to add as much as information as possible and include the numbers you think are correct.
04 Apr 2018
Hi all, I am a recent graduate who is going to be pursuing an MSF starting in the late summer/early fall. My goal is to break in to investment banking, but I do not have previous IB internships. I know it is late but I am still hustling to get something, even unpaid and informal, for this summer. I cold e-mailed every MM and boutique IB and PE shop in my city (very non-finance city in the southeast) and got a meeting with the president of a legit IB with 30 or so employees. The premise of the meeting from the email I sent was that I was going to be starting grad school, wanted to learn as much
23 May 2018
Hi guys, I have an informational interview coming up next week. I was wondering, should I call or do they call me? I don't have her contact information, aside from her e-mail address, but I can ask. Although, I gave her my contact information. Again, I just want to know if I should call her or should I wait for her call? Thanks guys and God Bless!!!!
03 Apr 2013