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I have a question about day-to-day speech in the industry. This will probably come across as stupid, but how do people pronounce acronyms like EBITDA? Do they spell it out in speech? I have a phone interview coming up for a research internship. I've been on an intensive cramming spree and feel totally confident in the theory, but it's all academic at this point and I am trying to avoid coming across like the total novice I worry that I am. Also, any general advice? [edit]okay, so I discovered it's "ebitda" as one word. What about some nicknames though? Do people always call a comparable companies analysis a "comp", for example? Hoops fucked around with this message at 04:04 on Oct 11, 2011 |
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Oct 11, 2011 03:58
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Hoops posted:[edit]okay, so I discovered it's "ebitda" as one word. What about some nicknames though? Do people always call a comparable companies analysis a "comp", for example? Yes.
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Oct 11, 2011 04:13
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http://www.nytimes.com/2011/10/09/sunday-review/the-depression-if-only-things-were-that-good.html?_r=3&pagewanted=2 Ho Hum. We're all hosed.
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Oct 11, 2011 16:17
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"The United States is the only rich country in the world that has not substantially increased the share of young adults with the equivalent of a bachelor’s degree over the past three decades."
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Oct 12, 2011 01:54
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I'm doing a presentation for my Macro-Theory class on how higher education has bubble potential. Pretty scary stuff.
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Oct 12, 2011 02:29
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Thoogsby posted:I'm doing a presentation for my Macro-Theory class on how higher education has bubble potential. Pretty scary stuff. Potential may not be the right word, maybe actualization? The education market is basically already there.
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Oct 12, 2011 02:58
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To be a real bubble there has to be burst potential (ie not just prices increasing indefinitely). Prices definitely won't be coming down, and I don't mean that in the "the value of my real estate will always go up!" sense--there will always be demand for college education and plenty of lenders offering juicy nondischargeable (and largely gov't-guaranteed) loans to pay for it.
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Oct 12, 2011 09:19
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tolerabletariff posted:To be a real bubble there has to be burst potential (ie not just prices increasing indefinitely). Prices definitely won't be coming down, and I don't mean that in the "the value of my real estate will always go up!" sense--there will always be demand for college education and plenty of lenders offering juicy nondischargeable (and largely gov't-guaranteed) loans to pay for it. Well it seems like a bubble to me because of the number of people who have gone back to school of late and are saturating the market, driving up the costs associated with school only to experience disappointment and still more financial hardships in many cases on the other side. Repeat this process enough and demand will disappear as people shift away from returning to school.
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Oct 13, 2011 03:32
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Hoops posted:I have a question about day-to-day speech in the industry. This will probably come across as stupid, but how do people pronounce acronyms like EBITDA? Do they spell it out in speech? Eee Bit Dah. My take is to ere on the side of formality, especially if you have no experience in a group applying these concepts where the lingo is used. You look a bit presumptuous throwing around the slang before you've worked in the industry. It sounds a bit silly to say "one of the three methods of valuation is to prepare a comp", while I would feel comfortable saying "at my old job I spread comps for the tech industry related to this transaction". Higher ed is a bubble in a sense the rises in tuition have outpaced inflation while the returns dropped precipitously since the recession. However, I'm not sure it'll ever pop like a real bubble should, the law job market has been brutalized while applications were only down 10% or so. For the higher ed to be a bubble it would require a pop, such as a dramatic reduction in applications and subsequently tuition because people realized it's not worth the investment anymore, which I don't see happening. Its Miller Time fucked around with this message at 06:08 on Oct 13, 2011 |
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Oct 13, 2011 06:04
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^^^ That, plus the most expensive schools will be able to maintain those prices. Actually I'd wager that most places will be able to maintain current pricing, except maybe for-profit schools or the most marginal public schools where there simply aren't a dozen applicants who would love to take the place of the person who drops out because they can't afford it. On the EBITDA thing, would he be correct in calling it cash flows from operations (assuming short-term/working capital financing is not an issue)? I don't have a great accounting background (though EBITDA is non-GAAP anyway) but it's my understanding that that's the only difference. I'm also really enjoying my corporate strategy interviews. It's nice not being expected to crush dcfs in my head, the case studies are absolute jokes, and I'm starting to like the idea of a <12 hour workday.
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Oct 13, 2011 06:41
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http://www.wallstreetoasis.com/forums/ebitda-vs-operating-cash-flow-vs-free-cash-flow More thorough than I could ever be, and now working in public finance for the past year I've forgotten my corporate accounting. quote:The key difference between EBITDA and CF from Ops is the Change in Net Working Capital So yes. quote:^^^ That, plus the most expensive schools will be able to maintain those prices. Actually I'd wager that most places will be able to maintain current pricing, except maybe for-profit schools or the most marginal public schools where there simply aren't a dozen applicants who would love to take the place of the person who drops out because they can't afford it. I had the same thought. Even internet stalwarts like Amazon took a hit when the tech bubble burst, http://www.google.com/finance?client=ob&q=NASDAQ:AMZN I don't ever see this happening for Harvard business/law school. Higher ed in general may not be a bubble, but certain sectors such as for-profit online schools and bottom tier law schools could see a burst if the recession lingers and the message really gets out these degrees are useless. Its Miller Time fucked around with this message at 08:51 on Oct 13, 2011 |
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Oct 13, 2011 08:44
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I have an interview tomorrow that is going to be almost 100% behavioral. I know the majority of the standard questions but if anyone has ever heard of or been asked any really crazy behavioral questions I would love to hear them.
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Oct 17, 2011 18:17
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Thoogsby posted:I have an interview tomorrow that is going to be almost 100% behavioral. I know the majority of the standard questions but if anyone has ever heard of or been asked any really crazy behavioral questions I would love to hear them. Why shouldn't I hire you?
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Oct 17, 2011 20:34
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Waroen posted:Why shouldn't I hire you? I'm overqualified.
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Oct 17, 2011 22:30
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Have an offer for a 6-month FMP Rotation with GE Capital with a very high likely hood of it converting to full-time when I graduate. Really on the fence about this because I wouldn't be able to go for an IBD Summer Analyst position.
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Oct 21, 2011 20:35
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What year are you in school? I'm doing informational interviews with a few people at GE Capital, I wasn't aware they were already done recruiting. Hearing back from a couple positions next week... Lose my IB Analyst FT offer in 8 days, not sure what to do. Work/life balance, yo
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Oct 22, 2011 18:55
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tolerabletariff posted:What year are you in school? I graduate May 2013 if I take the internship, December 2012 if I do a SA.
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Oct 22, 2011 23:51
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tolerabletariff posted:Work/life balance, yo I thought that term had no place in this thread.
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Oct 23, 2011 01:57
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Personally I would rather work a 110 hour week with people I like than a 40 hour week with people I hate. I have a friend at my school that did his SA at Goldman Sachs in IBD in one of their top groups and he said the senior bankers have such sharp elbows that the whole analyst/associate pool is poisoned with a terrible attitude and nature towards each other. He ended up getting the offer but ended up switching to Morgan Stanley for full-time because the people were significantly better. He's still going to be working over 100 hours a week and the money is still ludicrous but it will be a much better experience.
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Oct 23, 2011 15:50
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Thoogsby posted:Personally I would rather work a 110 hour week with people I like than a 40 hour week with people I hate. 110 hours is more time than I spend at home with my wife. You better love the people you would work with.
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Oct 25, 2011 14:12
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Thoogsby posted:Personally I would rather work a 110 hour week with people I like than a 40 hour week with people I hate. As an ex analyst I disagree; also IMO how much you like your colleagues is secondary to the satisfaction you get from the work itself
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Oct 26, 2011 09:35
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Is anyone else trying for IBD positions in APAC?
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Oct 28, 2011 15:34
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What kind of work/life balance does the FMP program pretend to have? I was under the impression it was almost equally demanding as a run of the mill banking gig. A FT offer in hand is a lot to turn down.
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Oct 29, 2011 00:08
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I plan on taking this moment to say "gently caress you Jon Corzine, and good riddance MF Global."
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Oct 29, 2011 03:38
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MF Global see you the gently caress later, will be dead by Monday.
tolerabletariff fucked around with this message at 04:26 on Aug 23, 2012 |
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Oct 29, 2011 05:06
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Its Miller Time posted:What kind of work/life balance does the FMP program pretend to have? I was under the impression it was almost equally demanding as a run of the mill banking gig. A FT offer in hand is a lot to turn down. It's better than banking. 50-60 hour weeks most of the time, maybe getting up to 80 before a quarter close.
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Oct 29, 2011 16:35
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My friend started a small hedge fund two months ago. His broker...MF Global. Probably obvious, but he's having a very lovely weekend.
Thoogsby fucked around with this message at 01:36 on Oct 30, 2011 |
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Oct 30, 2011 01:34
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Interesting article on MF Global's situation as of this weekend: http://online.wsj.com/article/SB10001424052970203687504577003733625453536.html (not sure if you need to be a subscriber) My money is on State Street, who could benefit the most from beefing up its broker-dealer arm. That said, it's hard to imagine a buyer grabbing up the whole firm barring a massive discount on the shares, the amount of leverage they've taken on is absurd. Good bet that the Strat/Ex folks at GS, Macquarie, SSC, and maybe a few others aren't getting much sleep this weekend.
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Oct 30, 2011 22:01
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I'm going to talk to some people from Mitsubishi UFJ securities soon. Is working for a foreign bank any different to working for a domestic UK one? Something lawful fucked around with this message at 22:22 on Oct 30, 2011 |
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Oct 30, 2011 22:19
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Does it make me a lunatic that I'm 22 and already obsessing over MBA programs?
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Nov 3, 2011 14:36
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Thoogsby posted:Does it make me a lunatic that I'm 22 and already obsessing over MBA programs? Kinda, I mean, most of the good schools won't accept you until you have a few years in industry and if you're already looking at programs then it's not likely that you'll be interested in one of the lesser ones. That and the consensus appears to be that you'll get a lot more out of it after a few years in the workplace.
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Nov 3, 2011 15:18
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Red Oktober posted:Kinda, I mean, most of the good schools won't accept you until you have a few years in industry and if you're already looking at programs then it's not likely that you'll be interested in one of the lesser ones. No I know. I mean am I lunatic for obsessing about something that's 4-5 years away.
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Nov 3, 2011 18:38
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Thoogsby posted:No I know. I mean am I lunatic for obsessing about something that's 4-5 years away. Nah.
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Nov 3, 2011 19:19
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I went into the MBA thread and they were all "why do you want to go to business school" blah blah blah. Uh because I want a two year vacation, network with future rich people, and try and find a cooler job? Apparently you can't write this in an essay?
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Nov 5, 2011 08:15
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Its Miller Time posted:I went into the MBA thread and they were all "why do you want to go to business school" blah blah blah. Uh because I want a two year vacation, network with future rich people, and try and find a cooler job? Apparently you can't write this in an essay? http://www.wallstreetoasis.com/forums/my-real-response-to-the-mba-essay
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Nov 5, 2011 14:57
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So while 90% of the bulge bracket banks and many middle market banks recruit directly on campus at my school, a few banks that I'm interested don't, or if they do they're late in the game to post openings on our career services site - namely Barclays, UBS, Nomura, and Evercore. All of these banks have online applications for their I-bank summer analyst position and I applied. Is there even a remote chance that that this will lead anywhere if they indeed don't end up showing up on campus and I have no connections? Or do these online applications pretty much exist just to keep people like me from directly bothering them? For reference I'm a junior finance major at Notre Dame with a 3.7.
Swingline fucked around with this message at 03:31 on Nov 15, 2011 |
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Nov 15, 2011 03:29
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I've heard of one kid getting an interview at Wells Fargo IBD just by applying online but that's the only case I can recall. I think in any scenario you're better off using every channel at your disposal.
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Nov 15, 2011 19:49
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I scoured my career center's archives and it turns out Barclays UBS and Nomura do put positions/resume drops up around January. Can't hurt to have already applied I guess. I hear back from Citi JPM DB and Houlihan Lokey Friday or Saturday as to whether I have an on-campus first round interview in December, I'm freaking out. Anyone know what the summer analyst hiring environment is like right now? Is it as bad as the full time scene right now?
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Nov 16, 2011 01:33
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Welp, 0 for 4 on even getting a first round. Life of mediocre corporate 9-5 here I come 
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Nov 18, 2011 19:06
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Don't get too down. I just took an offer in a F500 rotational. My philosophy in this hiring environment is take whatever you can get, kick rear end at it, get an M7 MBA and reevaluate.
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Nov 18, 2011 21:44
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