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Glad I found this thread. I will be working FT at a middle market IBD after graduation. In many ways I got very lucky and I wish the best to all those still plugging away in this environment. I'm in law school now and managed to get in through a lot of networking/hustling, anything's possible goons, keep your chin up! Edit: To contribute to the above, don't go to law school unless you want to be a lawyer. I'm coming out relatively unscathed (the biggest drawback for me being three years of not working FT), but I don't recommend my path whatsoever, way too risky fougera fucked around with this message at 15:36 on Nov 27, 2011 |
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Nov 27, 2011 15:31
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| # ¿ May 2, 2024 17:16 |
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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.
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Feb 13, 2012 20:46
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Thoogsby posted:
Exactly why I'm thinking an industry coverage instead of product group. Working for private investments would be awesome but working for an up and coming tech firm would be just as exciting (and potentially more lucrative).
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Feb 15, 2012 23:56
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Thoogsby posted:Why work the same ungodly hours in IB as you would in PE if you can make more money in PE I've been looking for info on how different the pay scale is compared to IBD associate-level and up. Realistically it wouldn't be a megafund, so how about MMs?
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Feb 16, 2012 00:01
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Socialism posted:
What do you mean "private placement"? So just join the best group? I noticed you don't have pm's can I email you?
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Feb 16, 2012 06:31
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Socialism posted:I'm guessing you are really meaning private equity/VC/HF sort of stuff? Yeah this is what I meant, but I also didn't realize banks have a separate private placement group, mine only has M&A, LevFin
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Feb 16, 2012 13:54
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Swingline posted: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? Your firm isn't giving you one?
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Feb 20, 2012 14:52
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Can we have a wardrobe chat? Some questions to get the ball rolling... 1) Do I absolutely need a second suit if office code is business casual? 2) How many shirts do you need in rotation (assume average sweaty guy)? 3) How many pants in rotation? 4) Do you use a laundry service (non-dry cleaning)?
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Feb 25, 2012 19:14
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After working an 80 hour week the last thing I'm going to want to do is laundry. I'm in school now doing absolutely nothing for my last semester and I'm pretty sure I left some clothes in the dryer (haven't checked in a week though). more wardrobe Qs: 1) How many pairs of shoes will I need and should i get brown (possibly match with blue pants) or just stick with black? 2) Do I bother investing in cufflinks? (Saw some kids wearing it last summer, looked kind of douchey) 3) What color is your undershirt? No seriously, I think most people say white but I did hear that black is stylish
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Feb 28, 2012 22:39
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Sounds like a good time to talk about working with little to no sleep, any advice on surviving? Chewing gum wakes you up somewhat, and too much caffeine probably backfires.
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Mar 5, 2012 22:32
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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.
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Mar 9, 2012 00:32
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Swingline posted:Live in Fidi its pretty cheap. Why would you ever live in Jersey or Brooklyn? I've lived in both in the past and like how they are somewhat removed from the pace of things.
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Mar 9, 2012 01:44
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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? connections connections connections. You have to pound the pavement like you are doing sales. Start with your alumni network. Otherwise yeah, consider an MBA.
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Apr 3, 2012 14:49
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Pros and Cons of moving to a satellite office in Silicon Valley? The coordinator here is really pushing for it.
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May 8, 2012 19:35
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Thoogsby posted:What's the job? IBD: Tech, Healthcare, M&A Most concerned about my career options after moving out to a satellite office. I guess I don't have to return to the tristate area as long as I have decent opportunities there. Also would I be spending more on cost of living?
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May 8, 2012 20:06
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evilwaldo posted:Before you think of Silicon Valley as a satellite office read this article. I'm not working for a bulge bracket, it's a solid middle market and I don't know how strong they are in tech.
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May 10, 2012 17:41
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Admirable Gusto posted:Ah Facebook Please, I don't want to be hopeful. I'm going into IBD expecting the worst. Similar note, are the hours slightly better for new hires during the first month with all the training?
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May 22, 2012 17:28
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there is truly nothing new under the sun
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The industry group I sat with last summer had it brutal, probably 90-100. M&A however seems to ebb and flow, hoping I get into that...
fougera fucked around with this message at 05:54 on May 30, 2012 |
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May 30, 2012 05:48
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With that said, thoughts on bonuses this summer? next year?
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May 30, 2012 14:54
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Ugh, do groups really pay attention to your homework submissions before work starts? I've got a bunch of models due and I noticed discrepancies between mine and some of the screenshots they provide. After going through the lectures again, I'm pretty sure the shots are wrong and not mine... pretty crappy training program I must say.
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Jun 29, 2012 05:44
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Last summer I'd go to the gym at 6, shower and change there, and be on the bus by 7:30. Tough but totally worth it.
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Jul 7, 2012 21:02
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From a Georgetown Alum, it is loving awesome. Placement is whatever, like the posts said above unless you are at harvard stanford princeton, its mostly a wash. Besides, in this economy your grades and your ability to hustle is gonna matter a lot more.
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Aug 3, 2012 05:02
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It's Tuesday and I've already logged 40 hours. You'd think it'd go by slow because you are awake for so long but its gone by very fast.
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Aug 15, 2012 06:09
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So its halfway through my second week working in the group (after a month of general training). Who else here feels utterly useless? Everything I do takes forever, usually has mistakes, and its clear no one trusts me with anything too substantive. How long until things get "better"?
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Aug 30, 2012 04:08
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Its Miller Time posted:What pressure do you all work under on a daily basis and what's the tone when you fuckup? The urgency is often unnecessary, the harassing takes a little getting used to. In terms of "loving up" its definitely subjective and depends on the MD. The older one definitely is more patient than the younger, but he seriously has no filter and will say the meanest things. The younger one will just give you the silent treatment and not trust you.
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Sep 30, 2012 07:56
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Its Miller Time posted:Who's beginning to get excited about bonus season? aka layoff season
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Oct 8, 2012 03:38
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A few thoughts from being on the other side this year: Don't be the guy who orders terrible interview food at lunch (i.e. wings or ribs). It really happened. Also lunches are not a time for you to talk about how much you like working. Its purely a "fit test", and yes, even if the young analyst says hes not there to interview you, you better believe that he will be asked for feedback later. Wear a drat suit. Seriously, no excuses. When people ask you a "fit" question, make sure to shift gears appropriately. Listen carefully to the question, I can't tell you how many times people took my fit question and spun it into yet another spiel about how smart and committed they are to banking. When I ask you about your golf hobby, don't keep talking about how little time you have because you are studying. And don't just say "I love it". Have one sentence ready that communicates some kind of interesting detail. "I see you like cooking", "Yeah, my favorite is preparing swordfish", "oh?", now I remember you. But at the same time don't get too loose. Don't talk in detail about how there was hazing in your sorority (yes this happened). Don't say anything too judgmental (i.e. "I heard industrials sucks", yes, heard that too). Listen for what is being asked and answer it professionally. A question often asked during committee meetings is whether you can "leave this candidate with a client in a room while you go to the bathroom". Being likeable but showing discretion (being professional) is key. fougera fucked around with this message at 06:40 on Nov 15, 2012 |
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Nov 15, 2012 06:36
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Practice your spiel a lot. It needs to be concise: think powerpoint without sounding like you have aspergers. Cut the soft bullshit, after a few sentences, most people lose attention and won't really understand your story.
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Nov 16, 2012 04:32
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A trader counts as an investment banker. Investment banking is actually corporate finance. But who wants to call it corporate finance, doesnt sound as sexy
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Nov 25, 2012 23:53
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Serious question: if/when you interview as a lateral hire they don't ask you bullshit like this do they?
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Nov 26, 2012 14:14
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Swingline posted:Out of curiosity, when a company "postpones" their IPO due to increased market volatility or multiples compression leading up to it what happens next? Is the IPO essentially dead for the foreseeable future or typically is it tried again reasonably soon assuming market conditions stabilize? For us middle market guys, they often revisit as soon as market conditions are better. Perhaps this is because it costs so much to IPO and there is a tendency to salvage whatever interest you managed to drum up when you first tried. But then again, most of my experience is in M&A
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Nov 29, 2012 06:29
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Attire Irony posted:I'm looking to find something generally stable with good income. Can anyone advise me on how I might end up financially sound inside 5-10 years? My current job tops out at like $45k/yr and that's after nearly 20 years and ahahahahahah gently caress that. I know you are joking to some degree, but these are terrible reasons to go into banking. There's plenty of other careers that pay over 45k.
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Dec 4, 2012 14:11
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I don't have many because its not expected at work. But I do like Hugo Boss, great material, relatively affordable. I'm eyeing a Ferragamo or a Hermes though... Edit: Speaking of no-name brand, I do highly recommend mysuit, especially for juniors. It's custom made and looks better than anything else you can afford. fougera fucked around with this message at 04:58 on Dec 13, 2012 |
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Dec 13, 2012 04:56
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Thoogsby posted:I have an interview for an internship at a Healthcare focused sell-side M&A boutique on Wednesday. I've already had a preliminary phone interview that was mostly fit questions so I imagine this one may be more technical. The only information I have right now is that it will be 1-1.5 hours long but I don't have any info on who I'll be interviewing with. Identify the industry verticals within healthcare. You won't need to be an expert in any of them but understanding how businesses are grouped and classified will make you sound smart when discussing the topics you mentioned. Definitely know this for the case study.
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Jan 4, 2013 05:27
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Congrats Thoogsby. Any advice on putting together a buy-side resume? I'm not really gungho about hedge funds but definitely interested in VC/PE. I'm not in a product group so I don't have heavy modeling experience but I have very solid experience in the sell-side process: I was staffed back in september and its only been me and an M&A analyst as junior bankers. I've basically done a little/a lot of everything since the CIM was drafted, we are now deep in diligence. If someone can offer to read my resume over that'd be great. Any advice will be awesome.
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Jan 17, 2013 04:55
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When/if you lateral banks, do you still get fed stupid questions like this?The Gnome posted:Hey guys. Hope everything is going well and you guys are doing alright on the interviews. I have a question that I'm kind of lost on..someone asked the other day when it is reasonable to assume past returns will continue into the future. I couldn't really answer it..any help? If this is how the question was really worded, the answer is the investor's risk profile. What is reasonable to an investor is different from what is reasonable to another investor who is more or less risk averse. fougera fucked around with this message at 09:05 on Jan 27, 2013 |
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Jan 27, 2013 08:53
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Sooooo anyone in IBD know if they are hiring laterals?
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Feb 1, 2013 03:24
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tolerabletariff posted:Dealflow is picking up, at this point we're actually pretty understaffed. We've actually turned down sell-side mandates because of resource constraints (obviously stuff below like $500mm). Silly That's our wheelhouse! Send them over
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Feb 16, 2013 02:22
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So tonight was the first time I tried to pull off a date on a weeknight as a first year. Ended miserably when I got a call and then an email with the subject: WHERE ARE YOU. I hope my bonus makes up for the 100-dollar mediocre meal I paid for.
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Feb 21, 2013 05:44
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Swingline posted:Go on... what did you do? I whipped out my Gold card (CapOne, not AMEX) and said, "Baby, I'm sorry but I have to go bank." I hailed a yellow cab (which will be expensed), got to the office and called the Director. He wanted to send a book of acquisition ideas to a client before boarding his plane in ten minutes. I masterfully handled the two edits to the book with under twenty keystrokes. After all, changing page titles and delivering marketing material late at night instead of the next business day can mean all the difference. As for the missed opportunities, there's always the next one, I turn girls like pitch books anyway.
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Feb 23, 2013 19:55
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