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Bobx66 posted:Anyone know of recruiting firms that focus on private equity? You mean, firms that are still recruiting which do PE?
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Nov 19, 2013 17:37
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Heard first years plotting to go to Europe during the week between Christmas and NYE cuz its "going to be dead". First of all, how do you even know, second of all, wtf?
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Nov 20, 2013 05:36
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Bobx66 posted:Anyone know of recruiting firms that focus on private equity? Not exclusively, but some sites to check out: https://www.albournevillage.com https://www.efinancialcareers.com
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Nov 20, 2013 15:20
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semicolonsrock posted:You mean, firms that are still recruiting which do PE? Sorry no, I meant headhunters who do recruiting for private equity firms. Thanks Vilos.
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Nov 20, 2013 18:17
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There are a ton, there's a spreadsheet floating around (just ask other analysts) called "buyside headhunters" or something that has maybe 40 listed with notes on what shops use them, how good, contact info, etc.haven't seen it in a few months but it's somewhere. fougera posted:Heard first years plotting to go to Europe during the week between Christmas and NYE cuz its "going to be dead". First of all, how do you even know, second of all, wtf? I wish I had done that, they're totally right. I stayed with my family that week but realistically could have flown to Timbuktu, there was nothing going on. Unless you're in the middle of an active process with year end closing (unfortunately, that's me this year...), there is no reason not to flee the country.
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Nov 23, 2013 00:44
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tolerabletariff posted:There are a ton, there's a spreadsheet floating around (just ask other analysts) called "buyside headhunters" or something that has maybe 40 listed with notes on what shops use them, how good, contact info, etc.haven't seen it in a few months but it's somewhere. If anyone tracks this down, I'd love a PM about it. Probably not doing i banking, but I have a ton of friends who do and are super into buy side for w/e reason.
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Nov 24, 2013 17:26
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semicolonsrock posted:If anyone tracks this down, I'd love a PM about it. Probably not doing i banking, but I have a ton of friends who do and are super into buy side for w/e reason. I would also appreciate a PM if available. Thank you.
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Nov 26, 2013 04:12
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If anyone has it, I would also like to peruse it. Thanks.
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Nov 26, 2013 14:43
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New site: http://www.boredbanker.com/ Based on the hackernews format.
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Dec 5, 2013 13:46
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I'm going back to school next September (likely MBA/MA dual degree from top programs) and want to find an internship to get some finance experience/exposure. My situation isn't very typical for a finance intern since I've been working in emerging markets for 4 years in other industries. I'm reaching out to my finance old-boys network and directly to the companies I'd like to work for after graduation. Any other suggestions? I've got about 8 months to bust my rear end and learn as much as I can.
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Dec 13, 2013 08:17
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I have a rather silly question: So I've been out of school for a few years now (undergrad finance major) and currently working at a financial regulatory institution. I'm thinking I want to explore the wonderful world of i-banking and all the stress that comes with it. Given that I'm already in the workforce and not from a particularly prestigious school, would it be crazy of me to gun for an Analyst position at an i-bank?
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Jan 10, 2014 03:30
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Ravarek posted:I have a rather silly question: Wouldn't the usual transition be to a compliance position? (I have no advice, just curious)
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Jan 10, 2014 07:12
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You'd have to network like crazy just to get an interview. Once you get one, you will have to have a good story for your transition (meaning really understand what banking is about) and demonstrate your technical ability (the easy part; i.e. what is enterprise value, walk me through some valuation method).
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Jan 10, 2014 21:08
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Ravarek posted:I have a rather silly question: Do you have a legal background, any industry experience outside of the regulatory side what regulator are you with now (finra, sec) ? As the person above suggests compliance would be the logical path and is a growth industry right now. Dodd Frank + record fines = greater opportunity to join the wonderful world of compliance.
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Jan 10, 2014 22:24
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fougera posted:You'd have to network like crazy just to get an interview. Once you get one, you will have to have a good story for your transition (meaning really understand what banking is about) and demonstrate your technical ability (the easy part; i.e. what is enterprise value, walk me through some valuation method). The technical stuff I think is the easy part for me. I'm already mostly through the CFA program, which I think helps a bit. Enterprise value, DCF models, etc. are no stranger to me. I guess I could always go back to school and get my MBA and then start off as an Associate though.
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Jan 11, 2014 00:50
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J4Gently posted:Do you have a legal background, any industry experience outside of the regulatory side what regulator are you with now (finra, sec) ? Nah, I'm not a legal person. And I'm at the Fed. The reason I'm trying to jump over to i-banking is because regulatory/compliance poo poo is super boring to me and I need more action.
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Jan 11, 2014 00:53
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Does anyone have experience on the Sales side? From what I have read, it is primarily telesales and not face to face, with the same sort of hours and structure. Is the compensation at all in line with experienced bankers?
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Jan 20, 2014 19:08
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Ravarek posted:I have a rather silly question: I was helping with prospective Analyst hires for my firm before I left and I doubt you would be considered. If you are dead set on investment banking, now that you have several years of experience, I would suggest getting an MBA and recruiting for an Associate role. e> whoops this is old. Have another answer: Belldandy posted:Does anyone have experience on the Sales side? From what I have read, it is primarily telesales and not face to face, with the same sort of hours and structure. Is the compensation at all in line with experienced bankers? Never personally worked in Sales but have many friends who did. Yes it primarily takes place over the phone, and the hours are significantly more predictable than on the banking side. Compensation is a direct function of how much you bring in. In banking, your comp isn't really tied to your client relationships until you reach a fairly senior level where you're expected to bring in business. e> Of course, comp guidelines and such might have changed over the past couple of years at the bulge brackets got off on a technicality fucked around with this message at 03:35 on Jan 25, 2014 |
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Jan 25, 2014 03:31
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A year and a half in and its pretty frightening how good I am at eye-balling size when cutting/pasting from Excel/Powerpoint to Word/Powerpoint templates. Production was down for the night and I had to demonstrate some master logo dropping. Other analysts will know what Im talking about.
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Jan 30, 2014 17:24
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I once made a creds page that had seventy-four logos. Seventy. Four. loving. Logos. In other news, I got poo poo on today by my group head for having a bad fact in a book for a meeting he was attending. Never mind that it was dictated to me verbatim by another MD and that I spend 80% of my time in another vertical. Totally my fault for not second-guessing his information.
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Feb 1, 2014 08:38
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semicolonsrock posted:A few of them are within the top 10-25 range on Vault -- does that generally mean they will be a good brand name to have? Ignore the Vault rankings, they are complete poo poo. I mean loving Allen & Company is like #28 on there, below UBS. Morgan Stanley is somehow above Centerview which is dumb when you consider that the guide is supposedly weighting all factors, not just name recognition. That poo poo doesn't make sense. Horrible, horrible ranking system.
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Feb 2, 2014 16:34
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lizardking posted:Sorry, they handle pensions, 401ks, endowments, foundations, taft-hartley trusts, etc. Set up the plans and handle the asset allocation decisions and due diligence on investment managers that they outsource the actual investing to. I'd be in the traditional group, but would also support the alternative groups when needed. I'd rather be at one of the managers they outsource to, but you take what you can get. Mixed bag. Investment consultants play it safe, you're going to recommend the same bag of large institutional grade big name managers, not the guys with $200-300M and a badass strategy. On the other hand, if you get the CAIA and spend a few years in manager due diligence, transitioning to a family office or endowment can be really cool. A lot of family offices own hedge funds, soccer teams, restaurants, you name it. Talked to a guy who spent the last year in Paraguay and Los Angeles buying real estate and investing in reality television. Edit: And you'll probably do a lot of RFP writing which sucks.
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Feb 4, 2014 17:16
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Any advice for second round HF/PE interviews?
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Feb 6, 2014 02:14
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This thread has been quiet for a while. How about that Cerberus and Safeway deal?
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Mar 8, 2014 02:21
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crazypeltast52 posted:How about that Cerberus and Safeway deal?
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Mar 8, 2014 18:08
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crazypeltast52 posted:This thread has been quiet for a while. Please refer to all future deals not in dollar values but in #'s of Whatsapps.
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Mar 9, 2014 02:51
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I'll buy 3 youtubes of IBM stock please.
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Mar 9, 2014 05:14
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Crossposting this link with a question I had about people's thoughts on internship compensation: http://forums.somethingawful.com/showthread.php?threadid=3611337&userid=0&perpage=40&pagenumber=2#post427412683 . Especially, why hedge funds seem to pay more at the entry level etc than i banking, in my anecdotal experience, when they are also usually more selective + desired.
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Mar 25, 2014 10:36
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Ravarek posted:I have a rather silly question: Most likely you will need a reset - ie go and do a Postgrad or (as someone said the CFA)..
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Apr 1, 2014 10:02
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Belldandy posted:Does anyone have experience on the Sales side? From what I have read, it is primarily telesales and not face to face, with the same sort of hours and structure. Is the compensation at all in line with experienced bankers? I have a problem calling that part of investment banking at all. That is trading. And the traders (prop-traders) hosed up the reputations of investment banks and it was they who blew them up as well. And yes it is primarily telesales - just like a commission based call centre. The money is basically crap- nowhere near in line with experienced bankers. Then there is wealth management which is more lunch meetings - but in the mean time phones, lots of phones. That is what more experienced bankers get on the retail side; and one the insto/wholesale side its even better- definitely more of a higher touch relationship banking basis. Hypation fucked around with this message at 12:45 on Apr 6, 2014 |
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Apr 6, 2014 12:41
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Hypation posted:I have a problem calling that part of investment banking at all. That is trading. And the traders (prop-traders) hosed up the reputations of investment banks and it was they who blew them up as well. ... Not that a decent amount of investment banking isn't basically just a way to make firm's prop trading less risky and more profitable.
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Apr 6, 2014 18:37
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semicolonsrock posted:Not that a decent amount of investment banking isn't basically just a way to make firm's prop trading less risky and more profitable. Investment banking is purely advisory in its nature. This means M&A advice and advice in relation to; and arranging to deal in, securities. This amounts to 1% to 5% of an investment bank's total revenues. [I used to have this mapped out on a slide but its out of date now.] Inside the "Investment banking division" are non investment banking activities such as trading from activities such as book-running (which is a form of sell side trading) and underwriting (which is a form of proprietary trading) but these are not actually investment banking activities- they trading activities and are just called investment banking (by pretty much everyone; and to such an extent that if you asked the typical investment banker whether they are IB activities they will say of course they are). What happens is that since bookrunning and underwriting is way more profitable than M&A or capital markets' advisory work, the investment bankers offer these latter trading services because the skillsets to do them are essentially the same. Also the relationship is with the same corporate "client". So investment banking is the loss leader used to provide free / discounted advice to secure mandates for underwriting / bookrunning / other trading services. Hypation fucked around with this message at 06:58 on Apr 7, 2014 |
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Apr 7, 2014 06:55
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Hypation posted:Investment banking is purely advisory in its nature. This means M&A advice and advice in relation to and arranging to deal in securities. This amounts to 1% to 5% of an investment bank's revenues. I used to have this mapped out on a slide but its out of date now. I'm talking about capital market advising which has the net effect of benefiting the investment bank's other trades. E.g. this division of Goldman effectively worked to create hedges for their own trading: http://www.goldmansachs.com/what-we-do/investment-banking/services/financing.html. I think actions like that did a lot of damage to investment banking's image on their own.
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Apr 7, 2014 07:15
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semicolonsrock posted:I'm talking about capital market advising which has the net effect of benefiting the investment bank's other trades. E.g. this division of Goldman effectively worked to create hedges for their own trading: http://www.goldmansachs.com/what-we-do/investment-banking/services/financing.html. I think actions like that did a lot of damage to investment banking's image on their own. Ah OK. Advising someone to do X when you already have a prop trading position that benefits from X. Yes. that happens all the time. Banks have the conflicts of interest and most of the time they are 'managed' but there is very substantial amounts of steerage in terms of advising one capital structure over another or distribution structure over another based on their trading abilities. In these sorts of derived benefits there always is a net benefit to trading - you can always show the link to how trading benefited. The catch is showing that the advice provided would have been any different had the benefit not been there. This is made harder by the fact that IB engagement letter expressly require the IB client to acknowledge conflicts of interest exist and require them to provide liability waivers against them. I am still amazed that anyone would hire an investment bank to provide advice.
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Apr 7, 2014 07:59
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Hypation posted:Ah OK. Advising someone to do X when you already have a prop trading position that benefits from X. Yes. that happens all the time. Banks have the conflicts of interest and most of the time they are 'managed' but there is very substantial amounts of steerage in terms of advising one capital structure over another or distribution structure over another based on their trading abilities. I really feel like boutique investment banks should be used more. I came really close to working for one before deciding I banking wasn't for me, and they seemed much better at representing client interests w/ sector exclusivity + no prop trading etc.
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Apr 7, 2014 09:47
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semicolonsrock posted:I really feel like boutique investment banks should be used more. I came really close to working for one before deciding I banking wasn't for me, and they seemed much better at representing client interests w/ sector exclusivity + no prop trading etc. I agree - I work in an independent. Currently the only client that is really concerned with independence is the Federal Government (in Australia). They won't hire an IB to run a sale process because of the conflicts. They hire independents. But private clients are happy to hire an IB to manage their IPO, when the IB has long standing relationships with the institutions who will be buying the shares and with the retail client base trading them in the after market. Essentially the company going for IPO is the supplier of scrip to the actual customers of the IB.
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Apr 7, 2014 14:14
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What's the generally accepted cutoff for MBA re-starts into IB? UG@22, MBA around 28/29? With 4-5 years work experience in between, or is that off a bit?
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Apr 10, 2014 14:08
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It really varies. We've got guys who did consulting for two years, went to b-school and come in only a little older than direct analyst promotes. The rest of our associates had much longer pre-MBA careers (of a wide variety, usually not finance or consulting) and joined in their early-mid 30s. Probably not the norm, I assume the bulk of MBAs fit somewhere in-between. I have hard confirmation that a former neurosurgeon (mid-40s?) went through the full analyst training program at JPM before joining the in-house PE shop as an associate. So it's never too late, I guess.
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Apr 19, 2014 01:17
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Buyside recruiting process was such a grind. I didn't do it last year so it was a lot of "holy gently caress!" and then it was over. Who the gently caress is getting in to these invite-only "information sessions" at TPG, Carlyle, KKR, etc? Is it the kind of thing where if you're not in the right bank / right group there's no chance, or is it more about the quality of the sweet nothings you whisper to the recruiter?
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Apr 19, 2014 01:50
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Is there a decent way into pe from consulting besides MBA? I'd rather not do one but it's startin to seem like venture capital would be my best bet.
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Apr 19, 2014 09:51
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