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Thoogsby posted:Does anyone have any experience, directly or indirectly, with going to the buyside directly out of undergrad? There are a couple small PE shops that occassionally recruit out of my school and while I would only consider it if it were a front office role, I'm still hesitant to skip the banking part of "the track". If anyone could shed some light on compensaton and upward mobility I would be happy to hear about it. A senior acquaintance of mine just got offered a job at Bain in Boston right out of undergrad. I didn't ask about the details. He mentioned 75k starting +150k bonus or something so I assume it's not back office. He's kind of an all-star here in terms of running multiple student organizations but I heard his GPA is pretty average (3.6-3.7 range). I imagine he aced the interviews though with how outgoing and charismatic he is.
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Mar 10, 2011 07:27
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Thoogsby posted:What school did he go to? Admirable Gusto posted:It could be Sankaty; they're Bain Capital's credit fund and they recruit out of undergrad Notre Dame and yeah it's Sankaty.
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Mar 21, 2011 04:26
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So while 90% of the bulge bracket banks and many middle market banks recruit directly on campus at my school, a few banks that I'm interested don't, or if they do they're late in the game to post openings on our career services site - namely Barclays, UBS, Nomura, and Evercore. All of these banks have online applications for their I-bank summer analyst position and I applied. Is there even a remote chance that that this will lead anywhere if they indeed don't end up showing up on campus and I have no connections? Or do these online applications pretty much exist just to keep people like me from directly bothering them? For reference I'm a junior finance major at Notre Dame with a 3.7.
Swingline fucked around with this message at 03:31 on Nov 15, 2011 |
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Nov 15, 2011 03:29
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I scoured my career center's archives and it turns out Barclays UBS and Nomura do put positions/resume drops up around January. Can't hurt to have already applied I guess. I hear back from Citi JPM DB and Houlihan Lokey Friday or Saturday as to whether I have an on-campus first round interview in December, I'm freaking out. Anyone know what the summer analyst hiring environment is like right now? Is it as bad as the full time scene right now?
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Nov 16, 2011 01:33
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Welp, 0 for 4 on even getting a first round. Life of mediocre corporate 9-5 here I come 
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Nov 18, 2011 19:06
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So tons of my over-achieving finance colleagues who have 3.9+ GPAs and tons of club involvement at our target school also struck out big time on even getting first rounds. A kid with a 3.98 went 1 for 6. Such an awful hiring environment. Is going to law school with big law in mind still a lovely idea or has that bubble calmed down a bit? I'm trying to figure out what to do now that my plan A has been all but crushed. As a recommendation to seniors in high school or underclassmen in college, don't make the same mistake I did. Unless the market makes a miraculous recovery by the time you're a junior even a 3.9 and plenty of club/finance involvement will not even come close to guaranteeing you a job on wallstreet these days. Keep working towards your dream but develop a plan B, and C, and D so you're not scrambling to figure out what to do your junior year if things don't go as you planned. Swingline fucked around with this message at 04:08 on Nov 21, 2011 |
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Nov 21, 2011 03:48
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Citi, JPM, DB, and Houlihan Lokey had November 13th application deadlines for OCR. They notified people the 19th. All of the other BBs are January 11th or 18th deadlines and 5-6 other banks like Lazard MM, William Blair, and Macquarie are January as well. I hear back from Goldman's early application process in December.
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Nov 21, 2011 09:24
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Got an offer yesterday as a research associate intern for a small-ish (15-20bil AUM) mostly long only equity mutual fund/asset management firm in midtown, I'm so pumped. The salary is right up there with BB IB SA pay and I think its going to be way more enjoyable. The 7 guys I met in the interview process (mostly PMs and VPs/senior analysts) were real cool guys. And drat their office was impressive. I'm accepting it as soon as it comes in the mail even though I have a Jefferies final round coming up. Anyone know long term what I'm looking at if I end up going full time in the industry after graduation? Pay as I move up? Possible exit ops if I don't? Should I take the CFA I exam my senior year if I receive and accept a full time offer at the end of the summer? If anyone works/has worked in the industry I'd love to hear what its like. Also just in general how far will $5800/month for 11 weeks get me in NYC? Right now it seems like an obscene amount of money to me but then again I go to school in an area where the cost of living is stupid low. If I'm paying 1-1.5k/mo (probably 3 mo lease, maybe 2.5mo if I can get it) in rent and invest ~$1000 in completing my professional wardrobe at the start is it possible I'll have ~3-4k left by the end to buy a used car for senior year or will cabs and Manhattan drink prices kill me? What am I looking at in income taxes? Swingline fucked around with this message at 18:30 on Feb 10, 2012 |
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Feb 10, 2012 18:21
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Thoogsby posted:Cabs can kill you depending on where you live and where you go out. Drink prices will be a function of how much you drink and what type places you like to go but I would say as a hard rule don't expect to pay less than $6 a beer after tipping. It only goes up from there. Looks like I'm going to do a lot of pregaming. A pitcher of bud light where I go to school is $6. Thanks for the advice on looking into CFA scholarships because that would save so much money.
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Feb 10, 2012 19:17
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How many shirts/slacks/ties/pairs of shoes should I get? I sweat more than most so re-wearing shirts is out of the question during the summer. I probably can't wear slacks more than twice before they get gross. When I went to their office for the second round I don't think I saw one guy wearing a suit which is a bummer since I love suits. All shirt/tie/slacks/dress shoes. They may have just had their jackets off since it was the middle of the day. I have two good-looking tailored suits though anyway. I have weekends off so I could do dry-cleaners once a week but I'd rather do it twice a month. Should I show up the first day in a suit just in case and take off the jacket if no one else is wearing one or will I risk looking like a douche if no one else is wearing one? Also, since I only have one decent shirt and zero slacks at this point should I try and save money by shopping out in the midwest where I go to school for all the shirts/slacks or pay extra for the high quality stuff in NY? What's a good price target/brand for entry level shirts/slacks/ties? Should I get non-iron shirts or regular shirts? I don't expect to travel much. Any particular type of collar I should go with? Swingline fucked around with this message at 02:14 on Feb 12, 2012 |
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Feb 12, 2012 01:56
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I could go up to $1500 probably.
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Feb 12, 2012 02:25
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Thoogsby posted:Hard to beat Brooks Brothers Extra-Slim fit Non-Irons: http://www.brooksbrothers.com/IWCat...tby=newArrivals Shirts look good. Would they have them at BB outlets? I don't really know my size so I'd need to buy them in person. Here's what I have for shoes so far: http://www.rockport.com/Dressport-Wingtip-Mens-Shoes/drspwingtip,default,pd.html - black http://www.johnstonmurphy.com/product.aspx?c=1215&pid=77687&VID=77701 - black Will I need a brown dress shoe? I only like wearing charcoal, navy, black, and other very dark slacks so I'm thinking no. I'm worried that the wing-tips make me look like I'm trying too hard and the J&Ms aren't dressy enough.
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Feb 12, 2012 02:44
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Admirable Gusto posted:I realize that I sound a little like Patrick Bateman here Thanks I had no idea. Is there a particular reason why or does it just not look good? Also could you link me a good starter allen edmonds for <$300? I'm clueless when it comes to shoes. Could I get by with one pair for the summer if I take care of it or will people notice I'm wearing the same shoes every day? Edit: I'm assuming I'm looking for a lace-up still, right? What kind of toe am I going for? Double edit: Thinking about splurging on http://www.allenedmonds.com/webapp/wcs/stores/servlet/producti_SF270_1_40000000001_-1#BVRRWidgetID as my one pair for the summer. Swingline fucked around with this message at 05:55 on Feb 12, 2012 |
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Feb 12, 2012 05:49
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Leo posted:You can find great deals on Park Avenues on eBay if you look around. They are basically the stock response for lace up cap-toes and the archetypical "dress shoe." You can't really go wrong. I think I'm gonna go with two Florsheims for the summer. http://www.florsheim.com/shop/style/18430.html http://www.florsheim.com/shop/style/12065.html
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Feb 12, 2012 21:30
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fougera posted:can we talk about exit opportunities? Is M&A/Lev Fin better than an industry group for HF/PE or is that bias completely blown out of proportion? Really interested in tech but am wondering if doing M&A will maximize my options. From what I've heard the most important part is to stay out of really specialized groups like FIG and maybe Oil, Gas, Mining, and the like. I think you should be golden in tech.
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Feb 13, 2012 20:56
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http://online.wsj.com/article/SB10001424052970204062704577223623824944472.html I think it's a little exaggerated but I always have from time to time wondered why IBD is the most sought after of all the finance jobs when there's so many other finance opportunities out there even in undergrad.
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Feb 15, 2012 05:20
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alex_carrigan posted:2 years at a BB is mandatory for a lot of high-paying, short work week jobs. You can't really be much better off than someone coming off an MBA after 2 years in IB. The sky is the limit at that point. CorpDev, buyside, whatever. Why someone would get to that point and decide to go back as an associate is beyond me, unless they hadn't worked in IB. The banks must put on a hell of a show to get them to come back. Someone's gotta do it I guess. Doesn't it get a lot easier as a VP and MD?
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Feb 15, 2012 23:06
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alex_carrigan posted:Edit: I know PE before more schooling is a common stepping stone for analysts who finish their time in IB, but are there many who finish their 2 years and go right for their MBA? I'd like to do that and then break into corporate through internships and networking while in school. (I know the career path doesn't work at all in finance, but I'm still genuinely curious.) From everything I've read about prestigious MBA programs, even the guys who do 2 years IB + 2 years PE even have trouble getting into M7 because they bring nothing unique to the table - they're just another cookie cutter finance guy. I'd imagine it would be very difficult if you have no interesting life story or whatever to go along with just two years of IB. And remember, prestige (top 10) is everything with MBAs. Finally, even if you did get M7 I've read that a lot of people with little pre-MBA experience get screened out or get a hard time during the recruiting process.
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Feb 16, 2012 08:19
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I'm trying to make a budget for the summer. I'm guessing I'll end up paying ~2000 in taxes after my rebate on the $15000 comp. How much will they probably withhold though and is there any way I can avoid the withholding and just pay come tax season? Also, I need to buy a smartphone. Is it worth shelling out $200 for the nice models or should I just go for the free with contract ones?
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Feb 20, 2012 03:02
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I'm looking for 1-3 other finance summer intern suitemates for http://www.nyu.edu/summer/housing/overview_rates.htm. I'd want to do the $368/wk single occupancy bedrooms suite option. Email me- jcrowe1 at nd dot edu if you're interested. They're air conditioned and fully furnished with free access to NYU's fitness centers. I'm pretty sure any utilities are included in that price. Applications go up later this month.
Swingline fucked around with this message at 08:12 on Feb 20, 2012 |
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Feb 20, 2012 08:05
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I can't believe how much I've changed as a result of competing for finance jobs. Today my managerial econ professor emailed out our graded tests with an answer key, I got a 92. But one of the questions worth 5 points which many people and I got wrong was incredibly ambiguously and poorly worded - resulting in many people who understand the concept getting it wrong because of the poor wording. High school or freshman/sophomore year me would have just sort of shrugged and been happy with an A-. Junior year finance major me after seeing dozens of classmates at my top university go 0 for 50 on OCR first rounds with 3.5s and 3.6s instead had nightmares about how this A- would result in me graduating with a 3.74 instead of a 3.75 thus not allowing me to round to 3.8 on my resume and just missing magna cum laude and having to work in ops or go into F500 finance for the rest of my life because my professor worded a question terribly. I feel like I want to club a baby seal over 5 points... and I even have an amazing internship lined up for the summer. What is wrong with me? Swingline fucked around with this message at 07:03 on Feb 24, 2012 |
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Feb 24, 2012 06:54
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Thoogsby posted:Things have been kind of slow in the office this morning so I spent the last twenty minutes finding ways to exploit my work cafeteria's token system. Basically you get blue and red tokens when you buy something healthy. You get blue below a certain price threshold and red above it. Two blue tokens and your next blue item is free, same for red. You should buy the blue fruits and short the red fruits imo.
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Feb 24, 2012 19:25
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I called HR at the firm I'm working at this summer and it's business formal. But when I was at their office all 5 guys who interviewed me didn't have a jacket. Did they just take the jacket off? Do I need to buy a third suit or just wait and see? Should I show up my first day in a suit?
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Feb 26, 2012 06:14
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Please roll in as a summer analyst/first year wearing french cuffs. Also be sure to wear a bowtie to stand out from your peers. And once you're feeling comfortable after a week or so break out a double breasted suit. They'll probably just give you a full time offer on the spot or promote you to an associate if you're already FT.
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Feb 28, 2012 23:09
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GO gently caress YOURSELF posted:They should also be wearing suspenders in lieu of a belt as well. Ah yes. Belt guys give me a bad vibe.
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Feb 29, 2012 00:41
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Its Miller Time posted:Really? I guess they are $500 for a pair of shoes. Which reminds me I need a good pair of loafers, any recommendations? Doesn't everyone just buy ferragamos?
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Feb 29, 2012 00:54
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tentish klown posted:This must be an American thing - in the UK most people wear cuffed shirts with cufflinks. But contrast collars are ugly. I like contrast collars but until you're a BSD you have no place wearing them since they stand out so much.
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Mar 1, 2012 14:53
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So I'm trying to get out of my college 6AM to 2pm sleep schedule so that I can be good to go for my internship this summer. Goal is to go to bed ~12pm and wake up at 6:30 to run every morning (I'll probably be working 9AM-10PM so this will closely resemble my actual schedule). I went 4 days straight but last night I staid up playing video games until 5 and slept til 1. Now its 6 AM and I'm pulling an all nighter just to start over again  It really did feel great for those 4 days though I just have terrible self control about getting myself into bed.
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Mar 3, 2012 12:10
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Dreaming Android posted:Seriously, getting yourself into a good sleeping pattern is pretty critical. Also living as close as you can to where you're interning is a good idea, because every minute spent in transit is one minute less of sleep. I lived 40 minutes away in the morning and 25 minutes away in the evening, and that pushed it when my hours stretched out from 8:30am - 11:00pm to 8:30am - 1:30am plus. Yeah that's why I'm fixing my sleep schedule 3 months early - since I knew it would take a few tries. Only problem is that going to bed at midnight is actually almost dysfunctional as a college junior. Midnight to 2 AM is prime hang out after you finished your work time and prime partying time. Speaking of commute, I have two options this summer: 1. Sublet a room in a solid 3br apartment on 93rd and 3rd. I work in lower midtown so ~30 min commute by train? $3400 for the 3 months including random utilities and fees. 2. Get a room in lovely (6x8 lofted single, can't bring people (hopefully girls) back after 11pm because of security policy) SVA dorm <5min walk from my work for $3050. I don't want to drop $4500 on NYU student housing and I have serious issues sleeping in a room share. Any time someone enters/exits the room, moves around, or does anything I wake up and can't sleep for hours. And I can't go to sleep before my roommate because just the knowledge that they will be coming in and going to bed at some point makes me not able to fall asleep. I know this from being in a double freshman year. It's not something I can just "get over" or anything I seriously can't sleep. I'm really leaning towards option #1. I'm only working ~12 hours a day (buyside gently caress yall  ) so commuting shouldn't kill me like it would in banking. Option #3 I guess would be to hold out for a gramercy or east village sublet to come up on craigslit but that seems risky to me.
Swingline fucked around with this message at 14:16 on Mar 3, 2012 |
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Mar 3, 2012 14:02
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Thoogsby posted:
Yeah the 30 minute commute seems to trump living in a closet in a dorm full of art school hipsters.
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Mar 3, 2012 16:14
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Adderall and dip. Gets me through midterms/finals.
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Mar 6, 2012 00:06
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Thoogsby posted:According to Dealbook, you can even get your favorite Skoal flavor through Seamless: http://dealbook.nytimes.com/2012/03/05/mealtime-moneyball-hacking-seamless/ Quote of the article: "I can’t order my Perrier anymore."
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Mar 8, 2012 23:51
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Admirable Gusto posted:
What I do in class is I get an empty soda fountain cup with a lid and straw. People think I'm drinking from it but I'm actually spitting through the straw into the cup. Classic.
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Mar 8, 2012 23:53
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fougera posted:I'd like to get input on where IBD folks live assuming the office is downtown near Wall Street. I understand its best to live close but how close considering the surrounding areas? Lower East Side seems like an option, but how about Brooklyn or Jersey? The latter two wouldn't be more than 30 minutes I don't think, corrrect me if I'm wrong. It was a lot easier last summer when the office was in midtown. Live in Fidi its pretty cheap. Why would you ever live in Jersey or Brooklyn?
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Mar 9, 2012 01:18
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Thoogsby posted:My place in FiDi was cheaper than all the places I looked at in Brooklyn that weren't all the way out at Nostrand ave and I didn't want to live anywhere that was in a Dead Prez song. You could do deals for the Drugs & Mixtapes industry group. Great exit ops.
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Mar 9, 2012 02:50
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 Breaking news: Greg Smith was a liar the whole time! http://dealbreaker.com/2012/03/goldman-sachs-accuser-greg-smith-lied-about-that-which-he-holds-most-sacred/
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Mar 19, 2012 04:13
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Its Miller Time posted:How are those your only two options? Finding a sublet for the second half of may to first half of august was tough and it had to be under $1300 including utilities for me to consider it. I signed the lease on 93rd and 3rd last week pretty satisfied with the decision. Worst case scenario its only 3 months if I don't like it.
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Mar 27, 2012 07:45
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Goldman vs Muppets http://www.funnyordie.com/videos/0431c2b257/muppets-vs-goldman-sachs
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Mar 27, 2012 17:17
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rear end tude posted:If I was interested in getting into Investment Banking, without having a related Bachelors degree in Economics, how would I build my resume? I graduated with a degree in the sciences, but am looking into switching career paths. I currently work full time, so would an internship help? What type of internship should I be looking for? What else should I do? Just realize without an MBA it will only ever happen at a very small regional boutique if you're talking about a standard corp finance advisory analyst role. They recruit directly from graduating student pools or other banks for that. Backgrounds probably get a lot more diverse when you get into sales and back office stuff though.
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Apr 5, 2012 03:58
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Going into detail about MY PERSONAL ACCOUNT is a pretty good way to make your interviewer hate you from what I've heard. They want to hear more about your passion for investing and specific industries/securities you follow, not your P&L.
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May 5, 2012 21:27
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