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Is anyone seeing off-cycle stuff up on HR websites? I'd love if they could help a goon out!
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Jul 15, 2011 23:08
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As far as I can tell, online apps don't even get looked at. You really only have a chance if you network and get your resume to the right people.
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Jul 16, 2011 22:11
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tolerabletariff posted:As far as I can tell, online apps don't even get looked at. You really only have a chance if you network and get your resume to the right people. My buddy landed at Wells IB through a web app
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Jul 17, 2011 04:29
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tolerabletariff posted:As far as I can tell, online apps don't even get looked at. You really only have a chance if you network and get your resume to the right people. That's pretty much what I figured, especially now. Lovely.
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Jul 17, 2011 12:55
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I mean, it sucks, I won't lie. I wish it was completely focused on your resume. But it makes a little sense. Banks want someone that a few years down the line will be able to win clients, and that takes networking--maybe getting your resume to the right people is the first 'test' in the hiring process. I didn't get so much as a phone screening from the bazillions of online apps I filled out, and neither did most of the people I know. The only interviews I got were through on-campus recruiting, but even then I feel like other were picked over me because someone in the group could vouch for them. I got my job through an incredibly lucky break, a friend-of-a-friend-of-a-friend who's an MD had someone drop out before starting and I got an interview really late. Also, Wells is more commercial banking with some middle-market M&A thrown in. Only one of the Big 4 retail/commercial banks (along with JPMC, BofA, and Citi) not to have a fully-developed IB, but with the Wachovia purchase and an eye towards expansion they're on the up-and-up, especially on the debt side. A pretty sweet job and I'm impressed that they're actually open to online applicants.
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Jul 22, 2011 07:16
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Is anyone here familiar with the titles at Morgan Stanley? There's an Executive Director of an IB department that went to my school and I'm not sure if this is above MD or analogous to it.
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Jul 28, 2011 10:15
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Thoogsby posted:Is anyone here familiar with the titles at Morgan Stanley? ED is the UK version of VP, some places (GS for one) will give you a ED title if you're in the UK, or a VP one in the US.
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Jul 28, 2011 10:29
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Red Oktober posted:ED is the UK version of VP, some places (GS for one) will give you a ED title if you're in the UK, or a VP one in the US. Weird. Says he's in NYC.
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Jul 28, 2011 10:36
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Thoogsby posted:Weird. Says he's in NYC. Sounds like it could be different then - perhaps they have D, ED, MD. At any rate, it's almost certainly below MD.
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Jul 28, 2011 10:39
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Thoogsby posted:Is anyone here familiar with the titles at Morgan Stanley? ED is usually the rank directly below MD. It's generally analogous to a SVP or vanilla Director at other banks. I don't think I've encountered banks that have Directors, EDs, AND MDs, there's gotta be VP somewhere in the mix.
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Jul 29, 2011 02:42
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Dealbreaker had some bonus numbers yesterday. First I've seen but it looks slightly up from last year.Dealbreaker posted:A few numbers trickling in for Wall Street’s junior mistmakers. M&I usually does a more comprehensive take on the numbers.
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Jul 29, 2011 10:35
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Barclays got their numbers Wednesday. Friend wasn't too forthcoming (but he might be reserved about that kind of thing) so it was hard-to-read. My bank's numbers come out next week. We've been absolutely killing it this year so I'm very interested to see what peoples' reactions look like... I want to ask but it's not really my place.
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Jul 30, 2011 01:35
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tolerabletariff posted:Barclays got their numbers Wednesday. Friend wasn't too forthcoming (but he might be reserved about that kind of thing) so it was hard-to-read. Barcap 60-80-100 mid range. RBCs numbers on DB for top seem high or they have a ridiculously wide range. I've heard 55-70-90. I wonder how much numbers change between cities.
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Jul 30, 2011 03:19
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For junior bankers, not much according to people that would know. The only difference is based on cost-of-living/taxes--if it's 15% more expensive to live in NY than Chicago, an Analyst in the same tier in the same year pulls 15% more in NY. Banks try to keep it as equal as possible for juniors or no one would want to stay in their groups for very long if they're regional. Senior bankers, on the other hand, make less in regional offices I think, mostly because they're not the primary coverage MDs on the firm's biggest clients. They actually get paid on what they bring in and in a regional office you may not have the opportunity to bring in as much. The exception is Houston/O&G, of course. This info may just be for my bank but I'd think it would make a lot of sense elsewhere, too.
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Jul 30, 2011 03:53
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Also take into account the New York City/Hoboken tax if you live there. Not sure if Chicago or LA have city taxes.
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Aug 1, 2011 09:12
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More bonus numbers via Dealbreaker.Dealbreaker posted:Junior mistmakers at the House of Dimon received their numbers yesterday afternoon. That's pretty cold for those who announced their exit. They worked the time and it's not like a huge percentage of people don't leave for greener pastures after two years.
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Aug 2, 2011 17:53
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Does anyone in this thread work in the Bay Area? I'd love to pick someone's brain on the lay of the land, get some advice. On a not so unrelated note; off-cycle job search: 
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Aug 2, 2011 18:48
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stfuDonny posted:Does anyone in this thread work in the Bay Area? I'd love to pick someone's brain on the lay of the land, get some advice. Yeah...I'm an MD at an all tech M&A boutique..we're in the top 5 every year in NUMBER of deals done..not size, we do $20M-$400M deal sizes...PM me, or go ahead and ask here. We are in the bay area..
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Aug 3, 2011 22:26
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Thoogsby posted:More bonus numbers via Dealbreaker. Those numbers are for the top 15% of analysts only. Bonuses ranged from around $50k for the bottom-tier to $70k for top tier first year; same story with analyst-iis except bumped $10k. Third-years got more than the 1.00xbase multiple.
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Aug 5, 2011 05:01
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M&I Bonus post is up this morning. http://www.mergersandinquisitions.com/2011-investment-banking-analyst-bonuses/
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Aug 8, 2011 09:58
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This post might be out of place, but I just read and loved Niall Ferguson's The Ascent of Money and am wondering if any of you i-banker types could recommend some other must-read books (whether they are course or popular texts) about the history of finance, investment banking, etc.
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Aug 10, 2011 14:48
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If you're interested in the Trading side and/or the CDS/MBS stuff, either of Michael Lewis' books are good. Liar's Poker and The Big Short are phenomenal to say the least.
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Aug 10, 2011 16:02
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EDIT: Nevermind, M&I covered all my questions. Can I trust the various online courses on networking and financial modeling that they sell on M&I or is it a scam? Kraftwerk fucked around with this message at 04:41 on Aug 14, 2011 |
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Aug 14, 2011 00:07
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Kraftwerk posted:EDIT: Nevermind, M&I covered all my questions. Everything I've read about the M&I materials has been positive.
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Aug 14, 2011 16:02
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Halisnacks posted:This post might be out of place, but I just read and loved Niall Ferguson's The Ascent of Money and am wondering if any of you i-banker types could recommend some other must-read books (whether they are course or popular texts) about the history of finance, investment banking, etc. I found 'when genius failed' about the collapse of LTCM (Long Term Capital Management I think it was called)...to be a fascinating story and book...
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Aug 14, 2011 22:14
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So I got that internship that I asked for help on the interview. 10 weeks over December - February. Now I just have to perform...
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Aug 15, 2011 10:41
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So I'm a high school student (A year left before I start college) and this career greatly interests me for the following reasons: -maths is as much a hobby to me as anything else -i'm quite happy to work 100 hours a week -i like the idea of constantly worrying about how the stocks are going to go -some (possibly psuedo) science about a high dopamine personality and how it's good for investment banking -infinite room for progress -new york looks awesome -that motherfucking bell i always see on CNN I am in the process of looking up more, but basically, I'm Irish, so going to ivy league/Oxbridge/LSE etc. will be hard. I think oxbridge will be impossible because it's too late for me to do the STEP test ( an aptitude test required for mathematics) But I can still go to trinity college dublin which is about 50th worldwide (15th for maths, better then a couple of ivy league colleges) and UCD (second best in ireland but not so highly ranked. Would either of these be good enough? What if I got a first class honour in something like Maths and Economics or "management science and information systems studies" (basically a mix of finance, programming business, economics, mathematics, quantitative analysis and personal skills. it's almost as if it was made for IB'ing eh?) as well as taking active part in societies, and being on the school swim team, and hopefully getting a foundation scholarship (best ~20 students in the college) would I have a shot ? As I said, I'd love to be able to go to new york. afaik there arent any front office investment banking roles in Dublin. My main question is: based on the sliver of information you have about me, would it be suitable? Which of these college courses would be best: Maths and economics in trinity college dublin Management science and information system studies in trinity college dublin Actuarial and financial studies in the less prestigious UCD Thanks in advance! And it's two o clock at night where I am so sorry if my post is poorly constructed
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Aug 16, 2011 01:13
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Have you actually worked 100 hours a week before? Rang a bell?
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Aug 16, 2011 01:19
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zmcnulty posted:Have you actually worked 100 hours a week before? Rang a bell? I haven't but if I was in a stimulating job then I'm pretty confident I'd cope. As it stands during school I get up at 5 AM for swimming training and don't finish study until 8 PM, some days I go to the gym and i'm not finished until 9PM (then immidiately go to bed to wake up at 5) so I think I can cope.
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Aug 16, 2011 01:25
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Vexxal posted:So I'm a high school student (A year left before I start college) and this career greatly interests me for the following reasons: Frankly, there's a lot of firms, it looks like, that have EMEA stuff open right now. So if you want to work in London or something, it's doable. If you'd really rather be in NYC and you actually love math, consider pursuing a MS in math or possibly a Phd. It's not a guarantee of work, but those guys (especially top performing ones) will be seriously considered for trading, hedge funds, etc. If you want to work deals, though, begin looking at small firms in your area or in London. Talk to the business school at Trinity and see how often they place someone in IB. Make sure you begin applying to summer analyst positions as soon as possible and by casting a wide net. Co-op, part-time, or off-cycle positions may be open to you if you keep your eyes open. The most critical thing to do is to get out ahead of the recruiting cycle - prepare yourself well academically by achieving highly but still by challenging yourself. Make sure you know when all the dates are for applications, but equally important, attend recruiting events either at your school or nearby. Demonstrate initiative and pursue leads. Hopefully some of that helps you, but frankly it's pretty open-ended, I know.
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Aug 16, 2011 02:09
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Vexxal posted:So I'm a high school student (A year left before I start college) and this career greatly interests me for the following reasons: Not trying to be discouraging but from reading this it sounds like you don't have a clear idea of what different jobs in finance are really like. You're not working 100 hours a week in almost any trading or capital markets position. If you're really serious about this set aside an afternoon to do some research. https://www.mergersandinquisitions.com is a great starting point. Just load up a ton of articles on your browser and work through them and you'll already have a huge leg up.
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Aug 16, 2011 04:38
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GO gently caress YOURSELF posted:Frankly, there's a lot of firms, it looks like, that have EMEA stuff open right now. So if you want to work in London or something, it's doable. If you'd really rather be in NYC and you actually love math, consider pursuing a MS in math or possibly a Phd. It's not a guarantee of work, but those guys (especially top performing ones) will be seriously considered for trading, hedge funds, etc. Hopefully some of that helps you, but frankly it's pretty open-ended, I know. quote:Not trying to be discouraging but from reading this it sounds like you don't have a clear idea of what different jobs in finance are really like. You're not working 100 hours a week in almost any trading or capital markets position. If you're really serious about this set aside an afternoon to do some research. http://www.mergersandinquisitions.com is a great starting point. Just load up a ton of articles on your browser and work through them and you'll already have a huge leg up.
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Aug 16, 2011 12:06
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Vexxal posted:Irish I studied abroad at UCD last fall and I remember there were various events for a few of the big finance/consulting firms going around for London recruiting. Frankly it was pretty shocking to me since the coursework there seemed very easy even compared to my complete non-target school in the US (Bain would not be caught dead undergrad recruiting here), but there are not nearly as many schools there so they don't have the option of being as extremely-ivy-biased as they are here, and I believe the grade distribution makes it harder to get all A's. I think Trinity or UCD would be fine as long as you network and get good grades. Emphasis on networking, especially since the Irish are spread out all over the world because there aren't too many jobs in Ireland. I would guess Trinity is better than UCD due to the brand name, but you would have to do some research yourself to figure that out. (If you do go to UCD, I remember some kids in my marketing class were in some chinese/business combo major that sounded really cool)
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Aug 16, 2011 15:55
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flyingfoggy posted:I studied abroad at UCD last fall and I remember there were various events for a few of the big finance/consulting firms going around for London recruiting. Frankly it was pretty shocking to me since the coursework there seemed very easy even compared to my complete non-target school in the US (Bain would not be caught dead undergrad recruiting here), but there are not nearly as many schools there so they don't have the option of being as extremely-ivy-biased as they are here, and I believe the grade distribution makes it harder to get all A's. I might send trinity a letter to see if they have any of these events. I'd hope so but sometimes UCD is considered more financial. *shrug* What were you studying in UCD? Was it just a years exchange?
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Aug 17, 2011 12:39
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Hey! Programmers over in the Cavern of COBOL have no idea what I'm talking about when I discuss deep excel financial models! Go figure... So here's some questions for anyone using Excel for complex modeling: What do you do when your model gets too big for Excel? Specifically, I'm getting into some ridiculous lookup tables, nested conditionals 3 deep, and 100x5000 cell-count worksheets (x6) that just need to be pushed into a database. So what kind of solutions are out there using MS products and/or free ones? The theoretical underpinnings for my needs are pretty basic: linear regression and simple algebra, so Excel can handle the manipulations and reporting just fine. It's breaking every formula when you need to make a small change, and waiting 30 minutes to load a Workbook that I'm hoping to change. I'm more proficient with the theory than the tools, but I'm not afraid to learn some scripting (Powershell, possibly VB), basic SQL or Access use, etc. Any wonks out there have suggestions?
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Aug 19, 2011 21:05
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AJzer posted:Hey! Programmers over in the Cavern of COBOL have no idea what I'm talking about when I discuss deep excel financial models! Go figure... What version of excel are you using?
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Aug 20, 2011 03:35
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AJzer posted:Hey! Programmers over in the Cavern of COBOL have no idea what I'm talking about when I discuss deep excel financial models! Go figure... Looked at MATLAB? Failing that, Python with Numpy+SciPy is a very good (and free alternative). Both have more of a learning curve than Excel, but you get a lot more power and flexibility.
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Aug 20, 2011 15:20
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f2a posted:Looked at MATLAB? Failing that, Python with Numpy+SciPy is a very good (and free alternative). Both have more of a learning curve than Excel, but you get a lot more power and flexibility. The alternative is VBA, since you can shove it behind excel and integrate with your existing work. It's probably less of a step than resorting to numpy or the like. Matlab is great, though.  Matlab.
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Aug 20, 2011 16:35
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I'm using Excel 2010.f2a posted:Looked at MATLAB? Failing that, Python with Numpy+SciPy is a very good (and free alternative). Both have more of a learning curve than Excel, but you get a lot more power and flexibility. I haven't. My issues are largely data management, model transparency, and non-expert use issues. Ultimately, my long-term goal is to bring future models in this direction:
Nam Taf posted:The alternative is VBA, since you can shove it behind excel and integrate with your existing work. It's probably less of a step than resorting to numpy or the like. I've been considering this, though replacing VBA with Powershell. I'm worried that in the next couple years, MS is going to completely phase out VBA in favor of Powershell, and I'm looking down the line. Still, there's nothing I can really do about my current project; it's a bloated, half-broken mess of a model built by two different staff, each writing it for a different purpose, and both leaving before I could talk with them about it. I have a buddy who works in genomics that uses Python a lot, I'll also pick his brain. Thanks for your help so far.
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Aug 20, 2011 17:22
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Vexxal posted:So I'm a high school student (A year left before I start college) and this career greatly interests me for the following reasons: Oxford doesn't require STEP, you should be able to apply in September. There's a separate application exam for math that's on the website. I don't think IB firms particularly care about degree types, but they care a lot about leadership roles in university clubs and the like.
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Aug 20, 2011 22:27
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