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Thoogsby posted:I think it's pretty rare to be honest. Everyone has to take their lumps at some point. It may be possible to end up in PE or a hedge fund right out of undergrad but it's probably going to be back office unless you're a very bright person coming from a very prestigious school. I was offered a job as an excel monkey at a small (~5 bil assets under management) PE/VC fund of funds in Stamford CT straight out of college ("Cornell: at least we're better than Brown!"), though I had previously done an internship in wealth management at beleaguered bulge bracket in the summer of 2008. They were pretty clear that it would be a fairly limited role with no guarantee whatsoever of advancement, so I think you're pretty spot on about what sort of opportunities are available in buy-side straight out of undergrad. An open question; instead of the hedge fund job I took a position at a boutique healthcare consulting firm. What are the odds of breaking back into PE? Think I'd have of chance of landing an associate-level position if I get an MBA in a year or so?
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Jan 27, 2011 18:47
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Nevitt posted:I've got a interview with a London based Hedge fund for an entry level quant analyst job as part of the Derivatives Trade Compression Team (not 100% sure on what this technically is). That team is responsible for finding ways to "compress" a portfolio of derivatives by recreating the position using fewer contracts. This leaves the resulting position the same but less complex, which can reduce counterparty risk.
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Sep 22, 2011 17:55
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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. For healthcare, a few of the buzzwords from the ACA you should become familiar with include the Medical Device Tax, Accountable Care Organizations, Bundled Payment and Shared Savings models, Medical Home, and Meaningful Use requirements.
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Jan 3, 2013 22:24
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Pissingintowind posted:Hey guys - there's an Associate opening in my corporate strategy group at a major financial services/technology company in the SF Bay Area. We restrict hires to strategy consultants and investment bankers, so I thought I'd give any of you Analysts finishing up your 2-year IBD stints a heads up. PM me if you're interested. No PM, but got an email address I can use to get in touch?
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Jan 17, 2013 20:30
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Pissingintowind posted:404 email not found Delete away.
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Jan 17, 2013 23:31
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Ravarek posted:The answer is never. It is never reasonable to assume past performance of any asset will continue similarly in the future. This may be the case, but for an interview you'll want to be able to name an exception or two, at least in theory. Examples of when you can assume past performance will continue can include fixed annuities or any other contractually-determined, fixed payments where the counterparty risk is basically nil. This is something I messed up during my first couple of interviews for on-campus recruiting. I was first asked what the relationship is between interest rates and bond prices. I correctly said inverse/opposite directions, but he followed up by asking if I could think of any situations when that didn't hold true. It never occurred to me to think of an exception to one of the most oft-repeated straight-from-the-101-textbook look-at-how-well-I-know-my-poo poo questions, and said it always holds true. But during the walk home i kicked myself as i remembered zero-coupon bonds, and other less-common instruments. I also could've said "when the bond reaches maturity" and been considered right. Or at least it would've been a more inventive and impressive answer than the rote one.
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Jan 26, 2013 17:13
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Swingline posted:Huh? Aren't zero coupon bonds the most sensitive to interest rate risk compared to bonds of equal maturity because unlike coupon paying bonds their duration = maturity? Yes. I meant something else, but the term escapes me right now.
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Jan 27, 2013 00:52
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fougera posted:Today the intern sent his farewell email to the entire loving bank. This is great
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Aug 9, 2013 14:34
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Mandalay posted:Delimiting is found under data > text to columns. You mean, like, you have to find it with the mouse?
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Sep 6, 2013 17:34
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Swingline posted:We have massive deal databases going back to like 2002. So when an MD is like "hey lets make bar charts summarizing all deals from this industry between these sizes with these other characteristics" pivots are the only way to go. SumIf. I avoid pivots whenever possible, since you'll get occasionally bullshit around source data changes, refreshes, missed check-boxes when recreating views, etc.
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Sep 9, 2013 17:21
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Nam Taf posted:sumproduct((range1=criteria1)*(range2=criteria2)*etcetcetc) if you need to sumif across multiple columns I live on the wild side. I don't even use ",false" in my vlookups.
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Sep 10, 2013 17:08
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Crooz posted:I was trying to build a reverse VLOOKUP (searching from the bottom instead of the top) to pull the most recent bond prices we had seen from another spreadsheet that was a few hundred thousand rows long. Bonds were entered into that sequentially as they were seen and I couldn't reorder it. Why can't you reorder the reference sheet? Throw it into access, add a sequential primary key, reorder on that key, export back to excel, and bob's your uncle you can do ordinary vlookups now. ITT excel chat. Guess the thread title finally got literal
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Sep 12, 2013 15:07
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DirtyTalk posted:
If you have no connections, you could always just straight up apply to smaller/boutique shops that need analysts/excel monkeys. Your degree will have prepared you for that just fine. Those will be about a two-year stint before any doors really start to open. But if you're lucky you'll already have an in on the PE side, which is a lot of people's wet dream. That's the path I nearly took, and it seemed viable enough (but loving hell no was I going to work in Stamford). Failing that, start thinking about an MBA right now.
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Sep 12, 2013 18:16
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semicolonsrock posted:I'm a little bit confused! I somehow ended up with a bunch of interviews at various I banking places. I don't have a very serious quant or finance background and was pretty open about this. So I have a couple questions. If you don't want to do banking or something with related skills, then the prestige factor is critical, and yes it drops off very quickly. (edit) for industry changes, since smaller banks or boutique shops are likely to be well-known among the financerati, but probably not anyone in different businesses altogether. Everyone knows what it means for you to have spent two years at JP Morgan, but not everyone will know what it means that you spent two years at XXXXX Capital Management Partners (/edit) quote:Second: What the gently caress does an interview like this even entail? How much of a crash course in finance do I need to give myself in the next week? They seem open to non-finance (apparently), but then again, I have no idea what this poo poo entails. You should give yourself a crash course. Every finance-related interview I ever went on, even with my non-finance degree (Public policy) and their openness to people with those non-traditional backgrounds, I was quizzed on simple things like "Why can't past gains predict future performance?" through questions that I found challenging like "Can you give me two examples of a situation where the price of a bond will not move in the opposite direction of interest rates?". They want to test your knowledge (even if it's meager), but more importantly they want to gauge your interest to see if you actually like and think about these things, or if you, for example, just want to slog away for two years to get their firm's name on a line-item on your resume. It will show. Study up. bam thwok fucked around with this message at 16:39 on Sep 19, 2013 |
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Sep 19, 2013 15:56
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semicolonsrock posted:Also I realized I forgot about the "bonus" section of salaries on Glassdoor -- holy poo poo why would any 1st year analyst deserve ~$160k? They make you earn it. This is why you have to love this poo poo more than your family and friends.
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Oct 7, 2013 14:31
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