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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.
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Dec 14, 2012 07:20
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Vinyard vines. Sachs off 5th has good stuff too
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Dec 22, 2012 02:02
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Does anyone have any recommendations for textbooks or programs to learn excel? I'm a finance undergrad right now and I don't know how to use excel beyond absolute basics.
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Dec 22, 2012 04:04
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The courses being hawked over at mergersandinquisitions aren't that bad--I would say about the same quality as the external training program my bank uses for its new analysts. But Excel is something you mostly learn by doing, especially the way its used in IB. My brain is hotwired to shortcuts to the extent that I don't even think about the keys as letters anymore, just as places my fingers naturally go. It's sad. In other news, I don't think I'm going to last the full two years. Job is grinding me down... lots of headhunters been callin' and I might just peace out.
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Dec 27, 2012 18:27
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I have an interview for an internship at a Healthcare focused sell-side M&A boutique on Wednesday. I've already had a preliminary phone interview that was mostly fit questions so I imagine this one may be more technical. The only information I have right now is that it will be 1-1.5 hours long but I don't have any info on who I'll be interviewing with. My plan now is to learn The Affordable Healthcare Act inside and out and how it'll affect M&A activity, major deals in the sector, their recent deals, and brush up on M&A technicals (a little foggy here). Can anyone throw out some suggestions for topics/technical areas to research? e: They also just sent me a short case study, which is just a short deal memo with no specific questions. Not sure how to approach that. Thoogsby fucked around with this message at 19:20 on Jan 3, 2013 |
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Jan 3, 2013 19:00
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Thoogsby posted:I have an interview for an internship at a Healthcare focused sell-side M&A boutique on Wednesday. I've already had a preliminary phone interview that was mostly fit questions so I imagine this one may be more technical. The only information I have right now is that it will be 1-1.5 hours long but I don't have any info on who I'll be interviewing with. For healthcare, a few of the buzzwords from the ACA you should become familiar with include the Medical Device Tax, Accountable Care Organizations, Bundled Payment and Shared Savings models, Medical Home, and Meaningful Use requirements.
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Jan 3, 2013 22:24
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Thoogsby posted:I have an interview for an internship at a Healthcare focused sell-side M&A boutique on Wednesday. I've already had a preliminary phone interview that was mostly fit questions so I imagine this one may be more technical. The only information I have right now is that it will be 1-1.5 hours long but I don't have any info on who I'll be interviewing with. Identify the industry verticals within healthcare. You won't need to be an expert in any of them but understanding how businesses are grouped and classified will make you sound smart when discussing the topics you mentioned. Definitely know this for the case study.
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Jan 4, 2013 05:27
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fougera posted:Identify the industry verticals within healthcare. You won't need to be an expert in any of them but understanding how businesses are grouped and classified will make you sound smart when discussing the topics you mentioned. Definitely know this for the case study. bam thwok posted:For healthcare, a few of the buzzwords from the ACA you should become familiar with include the Medical Device Tax, Accountable Care Organizations, Bundled Payment and Shared Savings models, Medical Home, and Meaningful Use requirements. Thank you sirs. Both helpful and I got the internship. Now I just have to figure out how to turn a 20 hour per week unpaid internship into a full-time job.
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Jan 17, 2013 01:39
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Congrats Thoogsby. Any advice on putting together a buy-side resume? I'm not really gungho about hedge funds but definitely interested in VC/PE. I'm not in a product group so I don't have heavy modeling experience but I have very solid experience in the sell-side process: I was staffed back in september and its only been me and an M&A analyst as junior bankers. I've basically done a little/a lot of everything since the CIM was drafted, we are now deep in diligence. If someone can offer to read my resume over that'd be great. Any advice will be awesome.
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Jan 17, 2013 04:55
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Hey guys - there's an Associate opening in my corporate strategy group at a major financial services/technology company in the SF Bay Area. We restrict hires to strategy consultants and investment bankers, so I thought I'd give any of you Analysts finishing up your 2-year IBD stints a heads up. PM me if you're interested.
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Jan 17, 2013 18:45
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Pissingintowind posted:Hey guys - there's an Associate opening in my corporate strategy group at a major financial services/technology company in the SF Bay Area. We restrict hires to strategy consultants and investment bankers, so I thought I'd give any of you Analysts finishing up your 2-year IBD stints a heads up. PM me if you're interested. No PM, but got an email address I can use to get in touch?
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Jan 17, 2013 20:30
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bam thwok posted:No PM, but got an email address I can use to get in touch? PENIS (please don't quote this, I'm going to delete it when I receive your email) Pissingintowind fucked around with this message at 23:39 on Jan 17, 2013 |
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Jan 17, 2013 22:26
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Pissingintowind posted:404 email not found Delete away.
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Jan 17, 2013 23:31
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Was an investment banker (5 years in the pit) and finally escaped to found a hedge fund. Wish I had found this thread 6 years ago to add my own insight to the thread Anyways, life as an analyst https://www.youtube.com/watch?v=RcsRKaJPNDM
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Jan 18, 2013 05:25
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Hal_2005 posted:Was an investment banker (5 years in the pit) and finally escaped to found a hedge fund. Wish I had found this thread 6 years ago to add my own insight to the thread Feel free to share your wisdom.
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Jan 18, 2013 07:59
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If I'm an incoming FT analyst who accepted a group-specific offer will I still be going to some sort of sell day? HR has provided no info on whether there even is a sell day.
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Jan 19, 2013 08:44
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No. Unless your group wants you there to help talk to potential analysts / interns I doubt you'd go to a sell day. But as far as I know only Barclays has a sell day for full-time analysts since their offers are IBD-wide, returning interns have the chance to switch groups.
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Jan 19, 2013 20:43
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Thanks for the response. I need to have an apartment leased to start June 1st since training starts in early June. I don't graduate until May 19th and am in the midwest so I can't apartment hunt in NYC until after I graduate. If I immediately start looking after I graduate on May 20th, will that be enough time to find a place to start June 1st? Should I use a broker?
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Jan 25, 2013 04:34
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Hey guys. Hope everything is going well and you guys are doing alright on the interviews. I have a question that I'm kind of lost on..someone asked the other day when it is reasonable to assume past returns will continue into the future. I couldn't really answer it..any help?
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Jan 26, 2013 02:54
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The Gnome posted:Hey guys. Hope everything is going well and you guys are doing alright on the interviews. I have a question that I'm kind of lost on..someone asked the other day when it is reasonable to assume past returns will continue into the future. I couldn't really answer it..any help? Past returns on what? Are we talking about a company or a security such as a stock or bond? Gonna need more context.
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Jan 26, 2013 04:35
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The Gnome posted:Hey guys. Hope everything is going well and you guys are doing alright on the interviews. I have a question that I'm kind of lost on..someone asked the other day when it is reasonable to assume past returns will continue into the future. I couldn't really answer it..any help? The answer is never. It is never reasonable to assume past performance of any asset will continue similarly in the future.
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Jan 26, 2013 07:44
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Ravarek posted:The answer is never. It is never reasonable to assume past performance of any asset will continue similarly in the future. This may be the case, but for an interview you'll want to be able to name an exception or two, at least in theory. Examples of when you can assume past performance will continue can include fixed annuities or any other contractually-determined, fixed payments where the counterparty risk is basically nil. This is something I messed up during my first couple of interviews for on-campus recruiting. I was first asked what the relationship is between interest rates and bond prices. I correctly said inverse/opposite directions, but he followed up by asking if I could think of any situations when that didn't hold true. It never occurred to me to think of an exception to one of the most oft-repeated straight-from-the-101-textbook look-at-how-well-I-know-my-poo poo questions, and said it always holds true. But during the walk home i kicked myself as i remembered zero-coupon bonds, and other less-common instruments. I also could've said "when the bond reaches maturity" and been considered right. Or at least it would've been a more inventive and impressive answer than the rote one.
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Jan 26, 2013 17:13
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bam thwok posted:
Huh? Aren't zero coupon bonds the most sensitive to interest rate risk compared to bonds of equal maturity because unlike coupon paying bonds their duration = maturity?
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Jan 26, 2013 19:35
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Swingline posted:Huh? Aren't zero coupon bonds the most sensitive to interest rate risk compared to bonds of equal maturity because unlike coupon paying bonds their duration = maturity? Yes. I meant something else, but the term escapes me right now.
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Jan 27, 2013 00:52
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When/if you lateral banks, do you still get fed stupid questions like this?The Gnome posted:Hey guys. Hope everything is going well and you guys are doing alright on the interviews. I have a question that I'm kind of lost on..someone asked the other day when it is reasonable to assume past returns will continue into the future. I couldn't really answer it..any help? If this is how the question was really worded, the answer is the investor's risk profile. What is reasonable to an investor is different from what is reasonable to another investor who is more or less risk averse. fougera fucked around with this message at 09:05 on Jan 27, 2013 |
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Jan 27, 2013 08:53
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Swingline posted:Thanks for the response. I need to have an apartment leased to start June 1st since training starts in early June. I don't graduate until May 19th and am in the midwest so I can't apartment hunt in NYC until after I graduate. If I immediately start looking after I graduate on May 20th, will that be enough time to find a place to start June 1st? Should I use a broker? You pretty much need a good broker to get a good place at a reasonable price. Don't get one online go through a referral. I got a great broker, paid a fee obviously, but have an absolutely sick place in an awesome neighborhood and don't even need to split with a roommate. Oh and start to finish (first view to move-in) took a week. I had even less time than you did.
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Jan 29, 2013 02:54
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tolerabletariff posted:You pretty much need a good broker to get a good place at a reasonable price. Don't get one online go through a referral. I got a great broker, paid a fee obviously, but have an absolutely sick place in an awesome neighborhood and don't even need to split with a roommate. Ok I think my sister knows a good broker in NYC so I'll ask her. Just hoping I'll have enough liquidity to pay a broker fee and first+last+deposit and basic furnishings on just the signing bonus.
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Jan 29, 2013 06:25
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I'm sure many of you have access to better tools and toys than this, but the Macabacus macros really helped me out at my previous job as an analyst. They've finally gotten around to releasing their paid versions, but the free one still has some nice features. Get them here. If anyone can recommend other Excel tools/addons that they've found useful I'd love to have them. Not quite as important now that I'm a retail broker, but still nice to have. Plus, I'm king-poo poo in the office with my Excel skills, not that it matters much.
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Jan 29, 2013 07:00
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I'm starting my unpaid internship at an lower middle market healthcare M&A boutique on Thursday. An analyst recently just jumped ship to a back-office job at Morgan Stanley in NYC (boutique is in Boston). Do you guys think this is a bad sign? They closed 8-10 deals in 2012 but is someone lateraling FO->BO a red flag that maybe the experience at this particular shop isn't too great? They indicated my internship could turn into a full-time position if the situation was right with my performance and headcount.
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Jan 30, 2013 01:39
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I can't imagine many back office jobs where M&A experience would be useful, maybe he/she just wanted to get a foot in the door at MS, or in NYC?
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Jan 30, 2013 02:14
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Thoogsby posted:I'm starting my unpaid internship at an lower middle market healthcare M&A boutique on Thursday. An analyst recently just jumped ship to a back-office job at Morgan Stanley in NYC (boutique is in Boston). Do you guys think this is a bad sign? They closed 8-10 deals in 2012 but is someone lateraling FO->BO a red flag that maybe the experience at this particular shop isn't too great? They indicated my internship could turn into a full-time position if the situation was right with my performance and headcount. I wouldn't worry. It's more likely that he either A) is a confused prestige whore who wants to tell people I work at Morgan Stanley/thinks that its easy to go back office > FO ir B) wants to live in NYC.
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Jan 30, 2013 05:11
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Swingline posted:Ok I think my sister knows a good broker in NYC so I'll ask her. Just hoping I'll have enough liquidity to pay a broker fee and first+last+deposit and basic furnishings on just the signing bonus. Hahahahahahaha. No, you're hosed. After-tax your signing bonus will be $6k assuming Street and maybe $9k if you're at a really generous boutique. You're assuredly moving from out-of-state and almost certainly don't have a salary (excluding bonus) over 80x your monthly rent--either one of those is enough to put you in the two-month-deposit-plus-first-month-plus-broker-fee-plus-misc.-fees bin. That's $11k out the door just to set foot in the door. But it's also going to be June or July so tack on another $500 for a window A/C (there is no central A/C on an analyst's salary) + installation. You're also going to need basic household goods--toiletries, shower curtain, trash cans, paper towels, all of that poo poo you don't even think about and winds up costing you at least another $500. Also clothes, and also sustenance / socialization money while Payroll decides whether to pay you two weeks, a month, or longer after you've started. And you still don't have any furniture. Seriously, I borrowed enough from my parents to buy a (lovely) car. A hefty chunk of whatever pathetic bone we get tossed this summer "will be used to reduce existing indebtedness under the Revolving Credit (Card) Facility, with any excess proceeds used to retire outstanding long term 0% Parental Debentures." tolerabletariff fucked around with this message at 14:07 on Jan 30, 2013 |
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Jan 30, 2013 14:04
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fwiw my flex 3 on Wall St. had central air. I paid $1315/month for one of the two non-flex bedrooms. Fees are tricky. I've heard of people paying almost nothing and others paying out the rear end. NYC apartment hunting is a bloodbath basically.
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Jan 30, 2013 14:37
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Thoogsby posted:fwiw my flex 3 on Wall St. had central air. I paid $1315/month for one of the two non-flex bedrooms. Fees are tricky. I've heard of people paying almost nothing and others paying out the rear end. NYC apartment hunting is a bloodbath basically. I paid out the rear end for a broker, but it was definitely worth it as I'm one stop from Wall St. in my own place and I don't even make an IB salary. What's with the 80x rent number, though? 40x rent gets you by without needing a co-signer. 60x if you want to pretend you're ballin' on Stone St. He's right about needing at least $11k in hand just to get in the door. I needed a bit more to cover rent, deposit, and broker fees.
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Jan 30, 2013 14:58
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tolerabletariff posted:Hahahahahahaha. No, you're hosed. Guess I'm going to have to call on the parents for one last loan. Granted the roommate I plan on living with has been in NYC in a studio for a year since he graduated a year early so he'll have all the miscellaneous poo poo like a shower curtain and dishes and common space furniture. Also I already own my own window AC at school.
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Jan 30, 2013 16:34
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I've been lurking here for a while, but now I need to ask you all a question. Any real estate guys in here? I'm looking for advice on interviews in this sector, I had finance internships in college, but I've been out for a year in the construction industry as a project manager. I have some interviews coming up in commercial real estate as well as doing a bit of networking, and I'd like to tap the goonsphere for advice.
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Jan 31, 2013 04:13
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crazypeltast52 posted:I've been lurking here for a while, but now I need to ask you all a question. Any real estate guys in here? I'm looking for advice on interviews in this sector, I had finance internships in college, but I've been out for a year in the construction industry as a project manager. I have some interviews coming up in commercial real estate as well as doing a bit of networking, and I'd like to tap the goonsphere for advice. I flirted with the idea of pursuing CRE as a career for a while. I interviewed for a CRE lending desk at a major US bank but didn't end up getting the job. CRE is drat hard to break into right now, most Analyst openings require 1-3 years of CRE experience just to interview. The market is definitely recovering and if you can get it now you'll probably do well. What types of jobs are you pursuing? CRE is a very dynamic field and is very much its own world in finance.
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Jan 31, 2013 22:40
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Thoogsby posted:I flirted with the idea of pursuing CRE as a career for a while. I interviewed for a CRE lending desk at a major US bank but didn't end up getting the job. CRE is drat hard to break into right now, most Analyst openings require 1-3 years of CRE experience just to interview. The market is definitely recovering and if you can get it now you'll probably do well. What types of jobs are you pursuing? CRE is a very dynamic field and is very much its own world in finance. Met with an MD who leads the regional valuation practice for one of the global commercial real estate firms (JLL, CBRE). It sounds like it would be an appraisal role, so the field time would be useful when I've settled down and looking to buy some land in a couple decades. I've also talked with the property manager of one of my CBD's Class A+ skyscrapers, which also seems like an interesting path, although more on the operations side (ewwww, ops, I know, thank god this isn't wso haha). I've also talked with a few brokers, tenant/landlord reps and the whole industry all seems interesting, but also really compartmentalized.
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Feb 1, 2013 00:10
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Sooooo anyone in IBD know if they are hiring laterals?
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Feb 1, 2013 03:24
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crazypeltast52 posted:Met with an MD who leads the regional valuation practice for one of the global commercial real estate firms (JLL, CBRE). It sounds like it would be an appraisal role, so the field time would be useful when I've settled down and looking to buy some land in a couple decades. I've also talked with the property manager of one of my CBD's Class A+ skyscrapers, which also seems like an interesting path, although more on the operations side (ewwww, ops, I know, thank god this isn't wso haha). I've also talked with a few brokers, tenant/landlord reps and the whole industry all seems interesting, but also really compartmentalized. Yeah, property management is probably one of the tougher paths to go down and it is extremely difficult to get your foot in the door. Plus you are dealing with tenants, and property managers certainly don't get paid enough to deal with tenants. In finance you are going to find that every single lender is looking to expand their CMBS origination team right now and the rating agencies are also hiring. In the back office, I am seeing a ton of asset management and loan administration jobs right now which might be your best bet for entering the finance side of CRE. Valuation is a great place to start in and the experience can pay off in later tracks in finance or acquisitions. Its also helpful that alot of the valuation firms also have advisory services across the whole spectrum. Brokerage is probably the quickest way to earning enough to invest on your own, but its also the quickest way to burn out. Very low barriers to entry, you are assured to get a position. but you can expect to earn zero dollars for your first 12-18 months. Although there are firms that will pay a salary, you will need a proven track record before they pick you up. Real estate is its own world, it is a bit compartmentalized but once you have experience it is a bit easier to jump around. A major advisory firm is a great place to start if you think you want to try your hand at more than one job in the industry. You asked for advice in interviews, how can I help? Bobx66 fucked around with this message at 21:03 on Feb 1, 2013 |
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Feb 1, 2013 21:00
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