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He wants you to look professional but low key. The last thing he wants is to have to have it seen as a formal interview. Be prepared because this is more of test than anything. This is more of a test than you realize. By meeting you in a coffee shop he puts you in a public location but you cannot go full bore and talk knowledge in a public place. Very interesting selection of a location for an interview.
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Mar 16, 2013 00:20
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Not too worried about the attire--More concerned with what the hell we're going to talk about in a Starbucks. It's in FiDi so it won't be too crowded on a Saturday but the intel I've got from my friend and my general feeling talking to the guy via email is he wants to feel out if I can handle the work and if I'd be a good fit culturally.
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Mar 16, 2013 00:41
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Update: The guy couldn't have been nicer. Really laid back meeting. Hopefully will have something there for the summer at least.
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Mar 17, 2013 13:50
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Just accepted an offer at Fidelity in their development program.  Buy-Side or die bitches
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Mar 28, 2013 16:10
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Thoogsby posted:Just accepted an offer at Fidelity in their development program. What's that?
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Mar 28, 2013 21:40
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Thoogsby posted:Just accepted an offer at Fidelity in their development program. Great news, buy-side's the dream. Congratulations.
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Mar 29, 2013 17:45
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Help, it's a Friday afternoon and I'm waiting on client stuff so I don't look busy right now. Do I just go up to a VP and ask for comps to spread or hope no one notices me on their way out?
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Mar 29, 2013 22:44
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Never ask for work. It'll find you. That's why I'll have worked ~40 hours Easter weekend--made the mistake of asking for work a couple weeks ago.
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Mar 31, 2013 19:01
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tolerabletariff posted:Never ask for work. It'll find you. That's why I'll have worked ~40 hours Easter weekend--made the mistake of asking for work a couple weeks ago. gently caress! I'll let you guys know when the other shoe drops on this then...
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Mar 31, 2013 21:39
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What up banking thread? Getting crushed?
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May 1, 2013 03:28
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this likely varies from bank to bank but what does a desk strat do where you work? This position I might interview for would be on the fixed income swap desk.
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May 1, 2013 11:14
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What do you guys think about the underwriting fees on Apple's recent offering? 53.3m or ~31bps weighted average on the 17b. Looks like actually pretty solid fee discipline to me considering how easy/low risk they are to price and place. You'd think there are plenty of banks who could execute the offering just as flawlessly and would be willing to take half the fees:
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May 1, 2013 22:12
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I am now irrationally upset when emails from IT do not use the correct RGB codes for our colors. Also, my outlook doesn't have our font so I'm horribly insecure about emailing people. At least my signature block is legit, unlike the guy in the cube next to me who tried to be a snowflake and use something he made up. Am I going insane insane or is this normal insane?
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May 16, 2013 16:33
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crazypeltast52 posted:I am now irrationally upset when emails from IT do not use the correct RGB codes for our colors. Also, my outlook doesn't have our font so I'm horribly insecure about emailing people. At least my signature block is legit, unlike the guy in the cube next to me who tried to be a snowflake and use something he made up. Am I going insane insane or is this normal insane? The perfect e-mail. Eggshell white with Romalian type. Nice. Raised lettering. A subtle 1-inch bone border. The tasteful thickness of it. Oh my God. It even has a watermark.
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May 16, 2013 16:51
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crazypeltast52 posted:I am now irrationally upset when emails from IT do not use the correct RGB codes for our colors. Also, my outlook doesn't have our font so I'm horribly insecure about emailing people. At least my signature block is legit, unlike the guy in the cube next to me who tried to be a snowflake and use something he made up. Am I going insane insane or is this normal insane? No, this is absolutely normal. My cube has poo poo plastered all over it--charts, maps, or graphics specific to my coverage sector but also goofy pictures, personal stuff, etc. An absolute mess, but the centerpiece (and only thing i look at ever) is a chart with our color scheme and RGB values. I'm at the point after a year now where I can tell if the RGBs are off by as little as +/- 10 pts. You know what's also awesome? Making an analyst deck in our format and then having production fail miserably at putting it into the client's. . Email signatures also drive me loving crazy. 98% of people at the firm use the standardized signature. But every so often I'll be on a thread with some dickhead VP from the loving Dallas office that decided to freeball it for no reason. Another annoying piece of signature bullshittery is people who put the broader group name in their sig, rather than their sector name (like Industrials rather than Aerospace and Defense). Hard to explain without giving away too much, but use your imagination for why I might not want the jokers in other sectors associating themselves with my grind. Protip: get Colorspy, shortcut on your desktop, wire the shortcut to some random hotkey combo, and bam--getting RGBs for anything on your screen is now instant. http://www.microtask.ca/colorspy.html
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May 26, 2013 23:32
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tolerabletariff posted:No, this is absolutely normal. My cube has poo poo plastered all over it--charts, maps, or graphics specific to my coverage sector but also goofy pictures, personal stuff, etc. An absolute mess, but the centerpiece (and only thing i look at ever) is a chart with our color scheme and RGB values. I'm at the point after a year now where I can tell if the RGBs are off by as little as +/- 10 pts. You know what's also awesome? Making an analyst deck in our format and then having production fail miserably at putting it into the client's. . Holy poo poo, thank you for Colorspy, no more alt, h, f, c, m, right
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May 27, 2013 02:43
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Also make a desktop shortcut for Snipping Tool and set up a hotkey for that too. Instant partial screenshots, great for turning IPs into profiles with a little help from Production.
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May 27, 2013 03:49
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I hope you don't use the mouse in Excel whatsoever. Anything else would shatter my dreams.
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May 28, 2013 11:26
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Nothing like creating industry pages on a Saturday night.
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Jun 2, 2013 03:36
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I mentioned before I'm starting at Fidelity in their development program (start on the 17th) but I just got my group assignment and I'm doing internal consulting & due diligence for the research & management division and their PE subsidiary, Devonshire Investors. Has anyone heard anything through the grapevine about Devonshire in terms of culture or management? They don't have their own dedicated website and my only real sources of info are current Fidelity employees who might have disincentive to give me straight information.
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Jun 5, 2013 03:15
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So this is my summer before junior SA recruiting, and I have an offer from a boutique IB. The guys are really nice and said while there will be grunt work to a degree, they'd let me come up with a few things (modeling, etc.) that I want to learn and they'll take the time to make sure it's worthwhile to me. With that said, I'm curious as to some of you who have been through SA recruiting at well-known firms, and wanted to know what I should be learning this summer to make me in a good position for next summer? Thanks!
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Jun 11, 2013 18:53
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The Gnome posted:So this is my summer before junior SA recruiting, and I have an offer from a boutique IB. The guys are really nice and said while there will be grunt work to a degree, they'd let me come up with a few things (modeling, etc.) that I want to learn and they'll take the time to make sure it's worthwhile to me. With that said, I'm curious as to some of you who have been through SA recruiting at well-known firms, and wanted to know what I should be learning this summer to make me in a good position for next summer? Make sure you have a least one deal "case study" to put on your resume - this will guide SA interviews and if you can speak truthfully and well to that deal you should have no problem getting offers. Avoid listing generalized responsibilities only on your resume or it will look like you were the coffee boy for a summer.
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Jun 11, 2013 20:39
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If you are interning in IBD right now, for the love of god, don't go home before the analysts unless you are explicitly told you can. Kid is an idiot
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Jun 13, 2013 04:48
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fougera posted:If you are interning in IBD right now, for the love of god, don't go home before the analysts unless you are explicitly told you can. On this note, when you are asked to come to lunch by your superior, "I'm too busy" is not an acceptable answer. And never upset the administrative assistants. That really shouldn't be a problem for most people, but god help the dumbass who refers to the head admin as "just a secretary". Where do these people come from?
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Jun 13, 2013 05:41
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An intern in risk wore a bowtie to the office today.
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Jun 28, 2013 20:49
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Should I worry whatsoever about my analyst training scores/class rank?
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Jun 29, 2013 23:32
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Swingline posted:Should I worry whatsoever about my analyst training scores/class rank? Yes and no. It matters to a degree if you want to be in the more popular groups, but as you will soon learn, corporate politics do apply. In my class some of the top scorers got into the top groups and others didn't (me). You'd figure it was some "fit" or personality issue but it was pretty obvious given that a) most of the unlucky ones had upperclassmen gunning for them b) the non-top scorers who did get in were total scrubs. Which leads me to my next point... you do NOT want to be at the bottom. You stick out like a sore thumb and you have a target on your back the first day you begin work. I know in my class, that reputation was never shed... Welcome to banking
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Jul 1, 2013 14:35
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fougera posted:Yes and no. This is FT training so group placement was assigned long ago but thanks for the info and I'll definitely take it seriously. My biggest fear is that I'll do reasonably well (like, get 90-95% on tests) but since everyone in banking is an ultra overachiever nerd my 90% may only be 50th percentile or something.
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Jul 2, 2013 00:42
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Swingline posted:This is FT training so group placement was assigned long ago but thanks for the info and I'll definitely take it seriously. My biggest fear is that I'll do reasonably well (like, get 90-95% on tests) but since everyone in banking is an ultra overachiever nerd my 90% may only be 50th percentile or something. Just do what you are doing, you are fine.
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Jul 2, 2013 01:01
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If you don't have enough info to go bottoms up (aka stock picking), how do you model deferred revenue?
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Jul 2, 2013 01:23
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My average in training was high 80s and that was ballpark 75%tile. Most analysts (myself included) stopped giving a poo poo by about 1/3 through training and concentrated on the 'social' aspects. Most of what you learn is pretty straightforward, even if you have no finance background or didn't intern--either way, the complexity jump to "real" work is so big that the training material isn't helpful for more than the basics. At my firm the group/vertical staffer got training test performance at the end of the summer but I never heard about it, think it was only a problem if you finished below the 70% failure cut-off. One caveat: do not be the fucktard that fails his Series 79 / 63 license tests. FINRA won't let you retake for a month and most banks won't let you work on deals OR pitches until you pass--meaning that not only are you useless to the staffer / seniors, but the other analysts will hate you for being deadweight. Not exactly a good first impression. fougera posted:If you don't have enough info to go bottoms up (aka stock picking), how do you model deferred revenue? If it's not a full-blown model for live deal execution, I would either hold flat (if historical data doesn't change much or have a clear correlation to sales) or base off the historical average % of sales. If it's a material item to the company or the model is particularly important, I would look through company filings and broker research for any commentary on customer payment terms and product delivery times. The only specific example I can remember modeling is engineering services retainers received in one installment covering the following four quarters, with revenue recognized in 1/4s at the end of each quarter. So probably easier than working out for a physical products company.
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Jul 7, 2013 13:06
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So I'm a few weeks into my boutique IB internship, and they're already having me help with pitch books, research, grabbing info for valuation model, etc. This is all for a potential deal - but how can I shed light on this experience if the deal doesn't go through? I still "worked on" the major aspects of a deal, I'm guessing..
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Jul 7, 2013 18:11
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The Gnome posted:So I'm a few weeks into my boutique IB internship, and they're already having me help with pitch books, research, grabbing info for valuation model, etc. This is all for a potential deal - but how can I shed light on this experience if the deal doesn't go through? I still "worked on" the major aspects of a deal, I'm guessing.. This happens all the time. Instead of saying the name of the company you just say "Ran the auction process for a middle market professional services company with roughly $50 million in EBITDA and $400m in sales" etc etc.
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Jul 7, 2013 20:38
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Swingline posted:This happens all the time. Instead of saying the name of the company you just say "Ran the auction process for a middle market professional services company with roughly $50 million in EBITDA and $400m in sales" etc etc. You're from ND right? Where are you interning this summer?
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Jul 8, 2013 00:44
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The Gnome posted:You're from ND right? Where are you interning this summer? I'm from ND, yes. I'm a first year analyst currently still in training but I won't disclose where I work on an internet message board - would be a compliance breach. Swingline fucked around with this message at 04:25 on Jul 8, 2013 |
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Jul 8, 2013 04:14
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Swingline posted:I'm from ND, yes. I'm a first year analyst currently still in training but I won't disclose where I work on an internet message board - would be a compliance breach. Does that make LinkedIN a compliance breach as well? The Gnome fucked around with this message at 00:29 on Jun 1, 2016 |
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Jul 8, 2013 07:16
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I thought the same thing, then figured a lot of people don't differentiate between internal policy and compliance. My guess is the former!
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Jul 8, 2013 09:18
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zmcnulty posted:I thought the same thing, then figured a lot of people don't differentiate between internal policy and compliance. My guess is the former! I still don't quite understand how internal policy or compliance can forbid a FT analyst from telling people where they work.
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Jul 8, 2013 20:01
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The Gnome posted:I still don't quite understand how internal policy or compliance can forbid a FT analyst from telling people where they work. Compliance verbatim said in their initial presentation that if we ever post on an "online message board" saying we work at our bank we could be fired. LinkedIN/FB are ok though for us to list our bank - although both were against compliance as recent as two years ago. You're still not allowed to talk about the bank on FB/LinkedIN posts. Banks are extremely sensitive of their reputation. Theoretically one exaggerated post in the SA banking thread could go viral and hurt their image. Same reason why you can never talk to the press or regulators without compliance approval.
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Jul 9, 2013 00:38
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The Gnome posted:I still don't quite understand how internal policy or compliance can forbid a FT analyst from telling people where they work. I don't disclose my work because then everyone would find this when they google the firm and then they can see all my posts regarding my battle with addiction to gay orgies in E/N. Or you know... You keep your work and a comedy forum separate. 
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Jul 9, 2013 01:25
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