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Thoogsby posted:I'm not expecting any brain teasers. Good luck. Why aren't you expecting any brain teasers? My favorite is: I have a gun. It's a revolver. It has 6 chambers and 2 bullets next to each other. I spin it, point it to your head, and pull the trigger. Click. Empty chamber. Now, you have a choice. Should I spin it and try it again or just pull the trigger now?
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Nov 26, 2012 03:02
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COUNTIN THE BILLIES posted:Good luck. Why aren't you expecting any brain teasers? I am so using this when I have to interview some would be interns this winter.
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Nov 26, 2012 03:39
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COUNTIN THE BILLIES posted:Good luck. Why aren't you expecting any brain teasers? Is that supposed to be a knock on statistics? It'd seem obvious to me that the answer is "spin again" because 1/3 odds is better than 2/5. Or is it a question of character to see if you can answer quickly and resolutely? What is the character of employees like in most IBs? Are people working there like the stereotypes in movies where you have gregarious Type-As all working to undercut their boss at every turn, out-perform their coworkers, and push down their subordinates from taking their job? usernamen_01 fucked around with this message at 03:57 on Nov 26, 2012 |
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Nov 26, 2012 03:54
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usernamen_01 posted:Is that supposed to be a knock on statistics? It'd seem obvious to me that the answer is "spin again" because 1/3 odds is better than 2/5. Or is it a question of character to see if you can answer quickly and resolutely? It's not a "knock" on stats. And it's not supposed to be too hard, but when you're in a room with some high level execs that you've just meant for the first time 2 minutes ago, it's easy for the blinders to be turned on.
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Nov 26, 2012 04:15
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COUNTIN THE BILLIES posted:I have a gun. It's a revolver. It has 6 chambers and 2 bullets next to each other. I spin it, point it to your head, and pull the trigger. Click. Empty chamber. Now, you have a choice. Should I spin it and try it again or just pull the trigger now? That's when I lean in and say "Is that it? Why don't you try pulling that trigger again?"  Edit: I look forward to the day I get to gently caress with people in interviews. Right now, when I'm on the other side of the desk, I play it straight because I'm usually too busy to do the interview in the first place.
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Nov 26, 2012 04:19
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usernamen_01 posted:Is that supposed to be a knock on statistics? It'd seem obvious to me that the answer is "spin again" because 1/3 odds is better than 2/5. Or is it a question of character to see if you can answer quickly and resolutely? It's actually better not to spin, assuming when spun there is an equal probability for each chamber. If there isn't an equal chance for each chamber assumed then who knows since one could argue that the weight of two adjacent bullets may influence the spin via gravity enough to make spinning the better option (bullets weighing more settling at the bottom of the spin and not in the firing chamber). Maybe I'll have to add a wheel gun to my collection for science haha. I may be way off though as I am fairly intoxicated.
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Nov 26, 2012 04:33
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No, it has nothing to do with the weights of the bullets. The answer and why: So 2 bullets and 6 chambers or 4 empty chambers out of 6. If we spin it, that's 4/6 or 2/3 chance that you live. Now remember that the 2 bullets are next to each other, so that's 4 empty chambers next to each other too. We minus the one that we just used. And then 3 of these 4 empty chambers, we know that the next chamber in succession will also be empty. I.E., a 3/4 chance of survival. Since 3/4 > 2/3 then you wouldn't want to spin it. COUNTIN THE BILLIES fucked around with this message at 05:19 on Nov 26, 2012 |
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Nov 26, 2012 05:13
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COUNTIN THE BILLIES posted:No, it has nothing to do with the weights of the bullets. Yes... So exactly what I wrote...
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Nov 26, 2012 05:40
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usernamen_01 posted:Is that supposed to be a knock on statistics? It'd seem obvious to me that the answer is "spin again" because 1/3 odds is better than 2/5. Or is it a question of character to see if you can answer quickly and resolutely? Your answer is wrong since once you've already spun it once and hit an empty the second fire isn't random anymore. Only one of the empties can come before a bullet since you know both bullets are next to each other. There's 4 empties and you're currently on one, giving you a 1/4 chance of dying if you just pull the trigger again without respinning. If you do respin the result is random with a 1/3 chance of you dying. Having a 1/4 chance of dying is better than a 2/3 chance of dying.
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Nov 26, 2012 05:58
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Swingline posted:Your answer is wrong since once you've already spun it once and hit an empty the second fire isn't random anymore. Only one of the empties can come before a bullet since you know both bullets are next to each other. There's 4 empties and you're currently on one, giving you a 1/4 chance of dying if you just pull the trigger again without respinning. If you do respin the result is random with a 1/3 chance of you dying. Having a 1/4 chance of dying is better than a 2/3 chance of dying. Yep, you're right. I didn't fully consider the dynamic of the bullets not being randomly placed changing the denominator.
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Nov 26, 2012 08:52
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Serious question: if/when you interview as a lateral hire they don't ask you bullshit like this do they?
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Nov 26, 2012 14:14
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Oliax posted:Clearly he's still interested so that's good news. Here's the thing to keep in mind about "accounting" from an M&A perspective. M&A guys get paid if a deal happens, that's it. No deal, no paycheck. BB bankers get a fee on the transaction, PE / VC guys may get some kind of deal fee, but they really get paid 3-10 years from now when they sell the company. All of them care about accounting only in as much as how they deal they are thinking of doing will affect the earnings number they can report, and the companies cash flows (so that is doesn't go bankrupt before they can sell it). You do not need to know accounting at the level that an accountant actually putting the company's books together would. Just one piece of color here...I'm an M&A guy, and accounting plays a huge role in M&A unfortunately. I loving hate accounting, but in terms of getting deals done / negotiating deals and for the right price (PE guys as well going in), accounting knowledge is critical. Your point is valid about not needing to be as deep as actually preparing books, but there are a lot of areas where it can make an enormous difference in negotiating and structuring a deal - off the top of my head just to be a little constructive - revenue recognition, COGS, deferred revenue, comp expense (and related earnout structuring), goodwill, etc. Mr. WTF fucked around with this message at 01:07 on Nov 27, 2012 |
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Nov 27, 2012 01:03
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Out of curiosity, when a company "postpones" their IPO due to increased market volatility or multiples compression leading up to it what happens next? Is the IPO essentially dead for the foreseeable future or typically is it tried again reasonably soon assuming market conditions stabilize?
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Nov 29, 2012 05:59
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Swingline posted:Out of curiosity, when a company "postpones" their IPO due to increased market volatility or multiples compression leading up to it what happens next? Is the IPO essentially dead for the foreseeable future or typically is it tried again reasonably soon assuming market conditions stabilize? For us middle market guys, they often revisit as soon as market conditions are better. Perhaps this is because it costs so much to IPO and there is a tendency to salvage whatever interest you managed to drum up when you first tried. But then again, most of my experience is in M&A
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Nov 29, 2012 06:29
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Just a friendly reminder to people to not do what I just did this morning and be extra careful to check your email addresses. I've been emailing that guy back and forth during the interview process using my alumni email address, not my personal one. This morning I shot him a followup since I haven't heard from him in a week, but I used my phone. Now, on my phone, even though I made sure to have it set to my alumni address, the header of the email had From: alumni address Sent By: personal address To: his address So the response I got from the guy was positive, and we're going to continue the interview process (  ), his last line was, "By the way, who is [personal address?]" So that's a bit embarrassing, but at least my personal address isn't something highly offensive.
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Nov 30, 2012 17:06
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Who has a personal email that isn't firstlast@gmail
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Dec 1, 2012 07:45
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Its Miller Time posted:Who has a personal email that isn't firstlast@gmail I do because it's my high-school era account but I also have a first.last@ISP which I use for anything semi-professional.
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Dec 1, 2012 11:01
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Its Miller Time posted:Who has a personal email that isn't firstlast@gmail first@firstlast.com 
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Dec 1, 2012 16:30
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Its Miller Time posted:Who has a personal email that isn't firstlast@gmail People like me with a very common name where every iteration of first, middle, and last were taken years ago? That's what my alumni email address is for. firstlast@alumni.school.edu works just fine.
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Dec 1, 2012 20:56
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Are there anyone that can speak to the Canadian version of 'the layperson would call it a banker'? Short story is that I'm 27 with an arts degree (working retail) and just started to consider the finance world for the first time about a week ago. I worked in advertising for a year, and so the asinine client demands mixed with odd hours and unbelievable tedium is familiar. 1) Is the issue of prestige as big in Canadian 'banking'? Are there Canadian 'Target Schools'? There's a community College like 20 minutes from my house that would allow me to live at home and work alongside schooling. Am I better served going to school at University of Toronto? I'm sure I know this answer. 2) I have no strictly financial background. I'm not retarded with numbers but I'm currently helpless in excel. There's no way I'm doing this without more schooling, right? I'm anticipating this, just searching for confirmation from someone who knows what's what. 3) Is 30 too late to get seriously started? Assuming there's no family and such in the way - will people take a 30 year old dude with a Business degree and a Nothing degree seriously? I'm looking to find something generally stable with good income. Can anyone advise me on how I might end up financially sound inside 5-10 years? My current job tops out at like $45k/yr and that's after nearly 20 years and ahahahahahah gently caress that. I've always liked money and been intrigued by banking, but younger me thought I was super unique and wacky. I've seen the err of my ways and even look not too bad in a suit. I just hope it's not too late to become someone my teenage self would hate 
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Dec 3, 2012 07:56
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Attire Irony posted:Are there anyone that can speak to the Canadian version of 'the layperson would call it a banker'? It sounds like you have no idea what "banking" is. Do you mean investment banking, the topic of this thread? Or do you mean retail banking like a guy who takes deposits and gives out loans? I would start by reading the OP and many of the informational sites in the OP such as mergersandinquisitions.com and then come back with more specific questions.
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Dec 3, 2012 15:11
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I'm somewhat in the same boat as usernamen_01, but without the sweet sweet military experience. My first instinct was IB but it's sounding like breaking into that at 30+ without an MBA is really not my most effective course of action. I'll read some more and see if I can't come back with something more specific. I think i may be in the wrong thread now.
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Dec 3, 2012 19:39
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Attire Irony posted:Are there anyone that can speak to the Canadian version of 'the layperson would call it a banker'? From what I understand, Canadian banks are very conservative in terms of banker salary. It's not glamorous like it is/was in the US. But they survived the Great Recession in good shape so there's that. I mean, Michael Lewis has an Art History degree and he got into Solomon so who knows? But that was in the 80s and things might have changed since then. Try getting a job at one of the Big 4 is my advice. And go for your CFA. I don't know why you've suddenly become fascinated about finance though. Maybe consider your option more before you enroll in an MBA program. Swingline posted:To be fair he got hilariously rejected by all of the banks his senior year and immediately went to get a 3 year master in economics and got a really lucky break happening to meet a partner's wife who loved him. I forgot he got a masters in Economics from LSE. COUNTIN THE BILLIES fucked around with this message at 00:18 on Dec 4, 2012 |
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Dec 3, 2012 21:16
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COUNTIN THE BILLIES posted:
To be fair he got hilariously rejected by all of the banks his senior year and immediately went to get a 3 year master in economics and got a really lucky break happening to meet a partner's wife who loved him.
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Dec 3, 2012 23:31
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Attire Irony posted:Are there anyone that can speak to the Canadian version of 'the layperson would call it a banker'? From someone who knows Canadian banking. 1. U of Toronto is your best bet. 2. Correct. 3. Yes. No. Canadian banking is very, very difficult to break into. Even if you have a banking background from the US it will not make a difference. If you really want to try go get a degree in geology and a minor in finance because most of the banking work in Canada is through the oil/gas/precious metals sectors. evilwaldo fucked around with this message at 17:49 on Dec 4, 2012 |
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Dec 4, 2012 13:59
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Attire Irony posted:I'm looking to find something generally stable with good income. Can anyone advise me on how I might end up financially sound inside 5-10 years? My current job tops out at like $45k/yr and that's after nearly 20 years and ahahahahahah gently caress that. I know you are joking to some degree, but these are terrible reasons to go into banking. There's plenty of other careers that pay over 45k.
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Dec 4, 2012 14:11
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Anyone want to tell me what first year analyst training is going to be like? I got my email from HR this week giving some details. Its 8 weeks long. I can't imagine how training would take 8 weeks but I've heard training is easy and fun so that's great. Anyway, what kind of hours can I expect in training? Will most evenings have company events and such? Is it literally like a classroom accounting/excel tutorial or a bunch of teambuilding HR stuff or both? Anything else I should know going in? Should I be ready to network like crazy with senior bankers or will it mostly be chilling out with incoming analyst bros?
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Dec 5, 2012 01:37
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Swingline posted:Anyone want to tell me what first year analyst training is going to be like? I got my email from HR this week giving some details. Its 8 weeks long. I can't imagine how training would take 8 weeks but I've heard training is easy and fun so that's great. Anyway, what kind of hours can I expect in training? Will most evenings have company events and such? Is it literally like a classroom accounting/excel tutorial or a bunch of teambuilding HR stuff or both? This will be the easiest 8 weeks of your banking life, so make sure you enjoy it. Focus on chilling with your bros for now, you will all need each other later. I f you have a business degree the training will be very simple, mostly about the unique way in which your firm does things vs. other ways of doing the same thing. Your evenings will have lots of events which you should attend. If there are senior types there certainly be polite and (pretend) to listen interestedly to whatever they are talking about, but leave it at that. No matter how Type A you are, try not to be "that guy" who sucks up obsessively to every partner/principal/MD they meet trying to impress with their awesomeness. That is not the first impression you want to make. Also, generally the senior bankers who come to a lot of analyst events have a high rate of not being such awesome people to work with. Not really sure why that is, but I've seen it from both sides at a number of firms, across industries. The senior folks who are either home with their kids or doing something age-appropriately fun will generally make far better colleagues, mentors, references than the those who like to get drunk (and possible more) with people 10+ years younger than themselves.
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Dec 6, 2012 23:14
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Didn't end up getting an offer from my final round last week. The color I got from the recruiter was they Superday'd 9 people for 2 spots, 2 of the interviewees were interns. I was the first alternate but they made offers to the two interns and they both accepted. Not a big deal but it blows going into the last semester of senior year without an offer. Fairly sure I've secured a part-time unpaid internship at a M&A Boutique for the spring which is at least a foot in the door somewhere. Going to work my rear end off and try to get an offer or leverage the connections of the people there to find something. The battle continues.
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Dec 10, 2012 19:44
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Thoogsby posted:Didn't end up getting an offer from my final round last week. The color I got from the recruiter was they Superday'd 9 people for 2 spots, 2 of the interviewees were interns. I was the first alternate but they made offers to the two interns and they both accepted. Stuff White People Like: Unpaid Internships But seriously, that sucks. Network your rear end off. I'm still playing phone/breakfast tag with this guy. Was supposed to meet him today, he called to cancel and asked about breakfast tomorrow. I emailed to confirm and am waiting again to hear from him. Of course I'm being impatient, but having to wait weeks to get a hold of this guy isn't anything out of the ordinary, according to my contacts, and if he's still bothering to try to set up meetings, then it should be a good sign. I feel like I'm getting negged and he's the smoothest PUA.
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Dec 10, 2012 20:21
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Continuing clothing chat, does anyone have an affordable recommendation for building out a tie collection? My current set is a little limited.
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Dec 12, 2012 17:40
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FunOne posted:Continuing clothing chat, does anyone have an affordable recommendation for building out a tie collection? My current set is a little limited. Depends on how you define affordable. I like BB for the price, especially as a short dude they're one of the few brands that is short enough for me. If I remember correctly I think their ties are ~$70-90 a pop but if you wait for a sale you can get them a little cheaper.
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Dec 12, 2012 18:08
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I've been shopping from the Tie Bar lately (http://www.thetiebar.com). They've been endorsed by a handful of menswear magazines and from my experience they're higher quality than BB for 25% of the price. Better selection too.
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Dec 12, 2012 18:46
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Thoogsby posted:I've been shopping from the Tie Bar lately (http://www.thetiebar.com). They've been endorsed by a handful of menswear magazines and from my experience they're higher quality than BB for 25% of the price. Better selection too. I like the comfort of having a brand name 
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Dec 12, 2012 19:19
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If by comfort you mean prestige I understand. I'd pay $1000 for a pair of ferragamo shoes before I'd pay $500 for a pair of shoes no one recognized.
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Dec 12, 2012 22:06
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Its Miller Time posted:The Investment Banking Thread: I'd pay $1000 for a pair of Ferragamo shoes before I'd pay $500 for a pair of shoes no one recognized. This should be the new thread title.
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Dec 13, 2012 03:01
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I don't have many because its not expected at work. But I do like Hugo Boss, great material, relatively affordable. I'm eyeing a Ferragamo or a Hermes though... Edit: Speaking of no-name brand, I do highly recommend mysuit, especially for juniors. It's custom made and looks better than anything else you can afford. fougera fucked around with this message at 04:58 on Dec 13, 2012 |
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Dec 13, 2012 04:56
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Suit Supply ain't bad either.
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Dec 13, 2012 14:06
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Thoogsby posted:Suit Supply ain't bad either. I was at their grand opening with Royal Asscher last year, and this is where I'm going once I get this job. I could use a few new suits and shirts.
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Dec 13, 2012 14:25
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FunOne posted:Continuing clothing chat, does anyone have an affordable recommendation for building out a tie collection? My current set is a little limited. Costco. Seriously. Like everything that Costco sells the ties are great quality and some of them even look cool. (Some definitely don't, but, well don't buy those.) Costco's no iron shirts are also a great deal. BTW, if you're too chicken to be seen with a Kirkland label on the back of your tie, you can always remove that. They thoughtfully attach a second loop made out of the same fabric as your tie to tuck the skinny end into. If you can't bring yourself to go that route, Thomas Pink (54th & Madison) has beautiful ties in more of a typical investment banker price range. BB is ok, but personally kinda boring for what they charge. Oliax fucked around with this message at 21:29 on Dec 13, 2012 |
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Dec 13, 2012 21:26
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