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Analytic Engine posted:I'm speaking with someone in IB but I know nothing about your field beyond movies and stats classes. Both seem comically terrible and will probably not go anywhere. If you want to learn about investing (or let's be honest, leech off other people's ideas) just sign up for seekingalpha, valueinvestorsclub.com, and distresseddebtinvestorsclub.com (last one's kinda lovely though). Also hi thread, I did a few years of TMT banking at a BB out of undergrad, burnt out spectacularly and now at a fund-of-funds because  .chupacabraTERROR posted:yo series 79 sucks If you can get your hands on some 3rd party training materials it's pretty trivial. All the large banks hire some dude that basically gives you half of the answers. Unfortunately my stuff are temp misplaced, but if you have a BB friend he/she almost definitely has it (most commonly from Knopman).
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Aug 26, 2014 02:51
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Mister Volition posted:Both seem comically terrible and will probably not go anywhere. If you want to learn about investing (or let's be honest, leech off other people's ideas) just sign up for seekingalpha, valueinvestorsclub.com, and distresseddebtinvestorsclub.com (last one's kinda lovely though). Ha, maybe I dodged a bullet? I was going to speak with a founder but the meeting fell through. I would be doing programming and data visualization work for them, not investing. I have my own opinion about the design and concept of their sites but I'm interested in the professional IB perspective. The founder in question spent nine years at WTS Proprietary if that matters.
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Aug 26, 2014 03:18
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Analytic Engine posted:Ha, maybe I dodged a bullet? I was going to speak with a founder but the meeting fell through. I would be doing programming and data visualization work for them, not investing. They're just tech startups, so I'm pretty sure there are no investing positions. The targeted demographics for both services aren't investment bankers in any case, seem to be just retail investors and traders who are really, really bored. The startup thread would probably be more helpful, but for you probably the only thing that matters is if they have any real money to support the business.
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Aug 26, 2014 04:24
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Mister Volition posted:If you can get your hands on some 3rd party training materials it's pretty trivial. All the large banks hire some dude that basically gives you half of the answers. Unfortunately my stuff are temp misplaced, but if you have a BB friend he/she almost definitely has it (most commonly from Knopman). I'm doing the STC online poo poo. It's not hard, just a gently caress ton of memorizing all the exceptions to every rule. These SEC rules and all of their exceptions are a whole new level of pedantry that i dont think even the CPA exam has
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Aug 26, 2014 04:57
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I have a silly question. I'm going into a second interview with a boutique broker/dealer. I showed up to the first interview in a standard suit and tie. No vest, no pocket square, no french cuffs, just a navy suit, white shirt and burgundy tie. My interviews(one man, one woman) were in business casual, and commented on me being in a suit. The dude wore nice jeans, tucked in button down shirt, and matching leather shoes and belt. I have been invited back for a second interview, however in the invitation, it mentions, "and less formal attire is fine this time." I'm a little perplexed in what to wear. Along with my potential bosses, I'll be seating with much of the board this time. What would you wear? I'm dumb and am still considering wearing a suit and tie.
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Aug 28, 2014 02:51
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Wear business casual...
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Aug 28, 2014 08:30
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Nice jeans, leather shoes and matching belt, tucked in button-down shirt, casual-ish blazer. You'd probably be fine in a suit with no tie, but would suggest no pinstripes, shirt on the casual side (i.e., not solid, not french cuffs).
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Aug 28, 2014 16:22
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Are there any West Coast banking goons in this thread? LA in particular. It's junior year recruiting season and I would like to get in touch with you guys for advice and perspectives if possible.
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Oct 15, 2014 20:33
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White Kid Polo posted:Are there any West Coast banking goons in this thread? LA in particular. It's junior year recruiting season and I would like to get in touch with you guys for advice and perspectives if possible. What's up. I work at a boutique shop in LA. I know nothing about recruiting though. My advice is work on operating with little sleep. Hope this helps 
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Oct 18, 2014 03:24
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Does anyone have any advice for trying to break into this field as a community college student? I was in the military and got out but had poo poo grades in high school so i knew i couldn't go straight to a good school. I'm worried that going to a community college is a death sentence since i most likely cant get an internship anywhere while im at one, and i believe a lot of top schools look unfavorably on CC student transfers. The only thing i feel like i have going for me on an app is that i mentor old people on how to manage their finances through a community outreach thing. Also wondering if what is the best degree for this business out of finance/EE/CS. I imagine finance is but i just feel like EE/CS might actually be better for analytic stuff even if you have less excel experience as a baseline. TLDR; will a 4.0 at CC and some community service be enough to have a good shot at making a path to IB somehow?
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Jan 4, 2015 11:36
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Original name guy posted:Does anyone have any advice for trying to break into this field as a community college student? I was in the military and got out but had poo poo grades in high school so i knew i couldn't go straight to a good school. I'm worried that going to a community college is a death sentence since i most likely cant get an internship anywhere while im at one, and i believe a lot of top schools look unfavorably on CC student transfers. The only thing i feel like i have going for me on an app is that i mentor old people on how to manage their finances through a community outreach thing. I think that transferring to finish your degree probably makes the most sense, if possible. With a 4.0 I imagine you have some pretty solid possibilities. I banking is pretty into credentials unfortunately (but also into the military!).
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Jan 4, 2015 11:47
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Yea i'm definitely going to get a 4 year degree at a real school. But im worried that missing out on internships my first 2 years due to CC will make me untouchable for my junior year where my only classes will have been at a CC sadly.
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Jan 4, 2015 14:55
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I went to community college and now work in IB. The school you go to to complete your degree is going to matter about a thousand times more.
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Jan 4, 2015 18:10
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Yes that is what i thought. Is there anything about yourself that you wouldn't mind sharing that may help guide me? My primary concerns are that when i try to transfer to a 4 year that i wont be able to gain admission to any target schools because i am from a community college, and that if i gain admission to a school as a junior internships wont be extended to me as my academic track record will have all taken place at a CC. So could you mention what school you went to or a comparable school, what internships you did if any, and what about you made you stood out?
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Jan 5, 2015 05:20
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-could take three years by doing half a semester two years. Not sure that's great, but an idea. - what state are you in? Some have very clear paths.
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Jan 5, 2015 06:29
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In CA I know several people who took the CC route and got into UCLA. I believe they're required to accept a certain number of people from CCs in California, maybe your state has a similar thing?
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Jan 5, 2015 06:39
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I'm from illinois, and im hoping to get into UIUC for engineering if i cant get into Uchicago or any Ivy/target for finance. I've heard bad things about getting into UChicago from a CC.
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Jan 5, 2015 09:45
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I'm still an undergrad so I can't help with anything actually banking related but I am an expert on the transfer process. I went to a community college for 2 years before transferring and my only goal the entire time was to "get on the path". I ended up applying to 34 schools all around the country last spring. Are you willing to leave your state? What are your grades like? Extracurriculars? How many credit hours do you already have? Work history? If all of that is strong you have an outside shot at getting into some schools with clout. If you are willing to move then you only need one to take a chance on you so play the numbers and shotgun out aps like a full time job. I relocated from Texas to Boston for an opportunity because it was the best option I got into. It's all about how far you are willing to go to make this happen. Play up the underdog story thing. Be an amazing interview. Write, re-write, re-re-write your essays. Be interesting. Take risks with your ap questions. It's an odds game so work it like one. You only need one school at the Georgetown/Duke/NYU tier or above to say yes.
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Jan 5, 2015 13:58
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Well that's good to hear. Thanks for all the help guys i really appreciate it. Hopefully if i just maintain all A's and do some cool stuff outside of class one school will take me lol.
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Jan 6, 2015 01:17
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Original name guy posted:Yes that is what i thought. Is there anything about yourself that you wouldn't mind sharing that may help guide me? My primary concerns are that when i try to transfer to a 4 year that i wont be able to gain admission to any target schools because i am from a community college, and that if i gain admission to a school as a junior internships wont be extended to me as my academic track record will have all taken place at a CC. Sorry for the delayed response. My situation may not give you the answer that you are looking for, because I work at a boutique and the process for one of the large IB is going to be significantly different. I went to a state school in California for my undergrad after transferring from a community college. I didn't do an IB internship while in college, but I did work for a financial advisor. I got heavily involved with the local cfa society while I was an undergrad, and I would recommend you do the same. Most IB are going to recruit out of particular target schools, but mid market and boutique firms can be an option if you don't go to a target. I ended up getting an interview at my current job because the guy doing the hiring reached out to a professor of mine and asked for a top student to apply for the position, and due to my relationship with that professor and the involvement i mentioned earlier he referred me in. They liked my resume and I had a good interview and I was in. I guess the moral of the story is that if this is what you want to do, not attending a target school won't necessarily mean your dream is over. IB is a hard field to get in whether you go to Harvard or wherever, but I think the key is to make the most of your relationships while in college because you can later leverage this into opportunities. I think your military background will really help, as you will notice your peers in college will be dumbshit kids who aren't taking things seriously so it might not be as hard to stand out as you think. Hope this helps, if you have any other questions feel free to help.
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Jan 7, 2015 08:18
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Thanks! I think i just need to do waht you are saying and focus on doing things, and not on the end. Ill try to use your advice i appreciate it.
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Jan 8, 2015 02:02
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who's excited for bonuses???
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Jan 8, 2015 02:52
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fougera posted:who's excited for bonuses??? It's me, I am
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Jan 8, 2015 16:37
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Original name guy posted:I'm from illinois, and im hoping to get into UIUC for engineering if i cant get into Uchicago or any Ivy/target for finance. I've heard bad things about getting into UChicago from a CC. If you do UIUC, try to do IBC or another student consulting program on campus. That might get you looks from consulting, but probably not IB.
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Jan 9, 2015 18:11
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That bit of advice about IBC is amazing. I had no idea stuff like that existed. I will definitely look into that if i go to UIUC since i know some staff affiliated with campus. I REALLY appreciate you telling me about this alot, it could be just the thing to fix the whole lack of year 1 and 2 prospects.
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Jan 10, 2015 01:52
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Does anyone in this thread work in technology at an investment bank? I interviewed for a bank in NYC and (somehow) managed to get the job. It's a rotational program involved in teaching me about analysis, management, and development. I'm wondering if anyone else here has done anything like this and what their experiences were with it.
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Jan 12, 2015 23:31
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I'm guessing there are a few finance students up in this thread, so it'll be interesting to see what you have to say about a little theoretical problem I have at work. Some time long ago, PortCo entered into a long-term supply contract with DerpCo, agreeing to purchase Widgets at a fixed price of $10/wdg. DerpCo doesn't make Widgets, they merely act as a middleman; unfortunately, the market price of Widgets has recently increased to $15/wdg, leaving DerpCo in a perilous position. DerpCo is a critical but not strictly irreplaceable supplier for PortCo. DerpCo proposes a new contract to supply the same number of Widgets for $17/wdg this year, and at the market rate thereafter; for accepting the new terms, PortCo will receive a one-time cash payment. How much should this be? Essentially, there are three schools of thought, the make-whole payment for PortCo is based on PV of FCF impact to PortCo from one of: A. (New Contract Price - Market Price) = $2/wdg, - value loss from pricier replacement widgets B. (New Contract Price - Old Contract Price) = $7/wdg - total destruction of value C. (Market Price - Old Contract Price) = $5/wdg - theoretical replacement cost I'm honestly not sure what the "right" answer is. I think there may be more than one... right now, I have the actual cash payment running off B (guess whose side I'm on?) but the IRR calculation running off A.
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Jan 31, 2015 11:17
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Hello thread, hoping for some advice on how to pivot my career. I received my B.A. in Political Science, and in December I graduated with a Masters Degree in Urban Planning. I am interested in pursuing real estate related investments. During my time in graduate school I took several statistical courses and participated in two real estate courses. I can confidently do regression analysis, pro forma creation, equity waterfalls, and qualitative understanding of those areas. I have done some accounting, but generally it was estimated models of accounting, not actually opening up the books for an existing entity. My finance experience is limited to the above. I have read the OP and started going through some of the resources. Banker-Blueprint, Vault and Mergers & Inquisitions. So far my idea is to follow M&I's cold-calling approach, but that's jumping the gun. How should I pivot my career towards real estate investments? Given my limited finance knowledge, but intermediate real estate knowledge, how much finance would I have to learn? Is it plausible to learn it on my own in a few weeks? Are the daily experiences for real estate analysts the same as the experiences of S&T or Corp Finance listed in the OP? Basically I'm 26 and trying to get into real estate investment, any perspective, advice, or general information would be greatly appreciated.
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Feb 7, 2015 23:04
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JIZZ DENOUEMENT posted:Basically I'm 26 and trying to get into real estate investment, any perspective, advice, or general information would be greatly appreciated. I worked in Real Estate IB for four years (analyst to associate), and I'm currently working for an RE fund manager in a corporate finance role, but I'm based in Australia, so I'm not sure how much my experience would be relevant for you (GAAP vs IFRS accounting for real estate is quite different). If any US-based RE people want to jump in and point out anything I say that's not applicable, please go ahead.
I can't really speak to how to actually get into RE IB, as the process here is quite different to how it works in the US. Having experience at an RE firm would probably be beneficial though, if that's an option for you.
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Feb 8, 2015 02:47
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Thank you for the response. What was your professional/academic background prior to pursuing Real Estate IB?
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Feb 8, 2015 14:53
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I got a BComm degree with honours and got into a bulge bracket IB through an internship in my penultimate year, which is the most common entry route into IB in Australia. From the sound of your background, you're aiming at associate level entry, and I can't really offer many pointers there. Here, associate hires (other than lateral transfers) are generally people from either a law or corporate background looking to switch careers, and tend to be fairly uncommon because the system here runs on analyst promotes. My understanding of the US system is that there's a bit more structure to it. Most of the US-based associates I worked with had an MBA or something similar and got into banking out of business school. Again, someone from a US IB can probably give you more information there.
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Feb 9, 2015 13:40
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Junkyard Poodle posted:I have a silly question. I'm going into a second interview with a boutique broker/dealer. I showed up to the first interview in a standard suit and tie. No vest, no pocket square, no french cuffs, just a navy suit, white shirt and burgundy tie. My interviews(one man, one woman) were in business casual, and commented on me being in a suit. The dude wore nice jeans, tucked in button down shirt, and matching leather shoes and belt. I have been invited back for a second interview, however in the invitation, it mentions, "and less formal attire is fine this time." I'm a little perplexed in what to wear. Along with my potential bosses, I'll be seating with much of the board this time. What would you wear? I'm dumb and am still considering wearing a suit and tie. Late to the party but still: you won't go wrong with white shirt, burgundy tie, navy blazer, khaki trousers. You can play around with it depending on how confident you feel mixing up colours; the colours don't matter much but you walking into the meeting looking like you're comfortable does.
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Feb 15, 2015 20:31
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CharlestonJew posted:Does anyone in this thread work in technology at an investment bank? I interviewed for a bank in NYC and (somehow) managed to get the job. It's a rotational program involved in teaching me about analysis, management, and development. I'm wondering if anyone else here has done anything like this and what their experiences were with it. A friend at GS did that for ~2 years. She was miserable, put in around the same hours I did for 1/2 the pay, and the work wasn't terribly creative or interesting (not that M&A is, either). Unfortunately the rather... unique culture of Goldman extended to the tech side as well, so everyone with an ounce of seniority was a massive twat. Her words, not mine.
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Feb 16, 2015 08:39
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Could anyone with PE experience please drop me a PM? I'm a retail guy who fell backwards into a board position with a new PE shop, and I really don't want to gently caress this up.
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Feb 16, 2015 15:42
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Finally stepped up to the Super 130s. Night and loving day, never going back.
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Feb 28, 2015 04:24
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Can anyone recommend any good corporate/consulting/banking/funds recruiters based in London? Looking for a friend who is moving here, who has two years banking experience (in infra/utilities sector) as an analyst, and now about two years experience in corp strategy at a utility company. She is looking to understand her options at this stage in each area.
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Mar 3, 2015 11:51
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Ani posted:Can anyone recommend any good corporate/consulting/banking/funds recruiters based in London? Looking for a friend who is moving here, who has two years banking experience (in infra/utilities sector) as an analyst, and now about two years experience in corp strategy at a utility company. She is looking to understand her options at this stage in each area. Also I'll take any recruiters for New York in Energy Utilities or Real Estate
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Mar 5, 2015 01:07
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Hey, I just got a job out of university working at the back office. After reading about the horrors of the BO, can any goons tell me what the BO is like and if compensation is anywhere as good as the front office?
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Mar 8, 2015 11:03
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Yeah Man posted:Hey, I just got a job out of university working at the back office. After reading about the horrors of the BO, can any goons tell me what the BO is like and if compensation is anywhere as good as the front office? I don't work in the backoffice myself, but in my function (functional analyst in the IT department of Markets) I come into contact with colleagues from back office all the time and they seem to be really happy with their job. Obviously compensation is generally less than in FO since the people in FO get massive bonusses when they earn money, but at least in my bank BO gets quite a lot of compensation as well. Here there are quite a lot of different parts in backoffice so it's kinda hard for me to tell you what your job will be. You might have to set up settlement instructions and manage exceptions, you might have to analyse data and write reports, you might have to handle complaints from counterparties when something went wrong and try to find out what happened, etc, etc. That said, I work for a Belgium bank so it might be totally different weherever you're from. Walh Hara fucked around with this message at 13:00 on Mar 8, 2015 |
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Mar 8, 2015 12:27
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Walh Hara posted:I don't work in the backoffice myself, but in my function (functional analyst in the IT department of Markets) I come into contact with colleagues from back office all the time and they seem to be really happy with their job. Obviously compensation is generally less than in FO since the people in FO get massive bonusses when they earn money, but at least in my bank BO get's quite a lot of compensation as well. Thanks, my job is mainly setting up settlement instructions and managing exceptions. Is it possible to transition to the front office later, though? Come to think of it, what are good jobs for economics and statistics majors?
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Mar 8, 2015 12:34
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