Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Locked thread
flyingfoggy
Jun 3, 2006

My fellow Obamas...

CounterRandom posted:

I had a quick question for everyone in the investment banking field.

I'm a senior studying physics, math, and electrical engineering. I have good grades, several publications, and have presented at an academic conference. I have a lot of research and work experience; however, it is all in physics and engineering. I have recently decided that I wanted to try and join the financial service industries, specifically investment banking. I have no training in finance and no work experience related to the field.

I have been applying hard to try and get an internship after graduation, but after about 200 emails/applications, I have only managed to get one interview with a boutique firm. Am I wasting my time looking for an internship? Would my time be better spent taking some finance classes after I graduate to improve my resume?

I have some pretty good job prospects at some engineering companies, but I really would much rather work in finance.

Also, if anyone could recommend some good introductory finance books that would be useful to study I would be very appreciative.

If you are that good at math I would look into more quantitative Masters in Finance/Financial Engineering programs, such as the one at Princeton. I think a lot of people out of it end up as quants or traders but I think they place people into standard investment banking as well. Either way you are getting paid large sums of money for being incredibly smart regardless of what you do and it's a very very good choice if you can get into a program like that.

Adbot
ADBOT LOVES YOU

flyingfoggy
Jun 3, 2006

My fellow Obamas...

KidDynamite posted:

Were would you recommend transferring too? I'd like to go keep it in New Jersey or NYC. Basically somewhere I could commute too because I'm still going to work.

I believe Rutgers has an investment banking student organization and a few people supposedly do get jobs in banking from it, but you will probably have a much easier time if you are at NYU Stern or Penn or Columbia. I don't really think any other local schools justify the the cost or hassle of transferring, and even NYU is pushing it since you are doubling your tuition cost for not thaaaat much of a boost.

This is speculation, but I'd be willing to bet that smaller boutique banks would be more lenient with your age and school than the big structured programs at large banks.

flyingfoggy
Jun 3, 2006

My fellow Obamas...

Real Life posted:

I'm going to be a summer analyst in NYC. I live about an hour away and would definitely prefer just to take the train in, but I've heard people tell me it's not a great idea. The hours in the group I'm working in shouldn't be too bad and I would save a ton of money. Any opinions? :(

Don't commute unless it's literally an hour door to door and you are in a standard 9-5ish position and all your friends are still at home... and even then you will probably hate your life. I'm not in finance (decided it wasn't for me) but last summer I commuted 2 hrs door to door for my internship from NJ and it ruined my summer; not to mention there was no opportunity for networking or anything fun after work and I would leave my house at 8am and get home at 8pm even though I was only putting in an 8 hour day. If I had to stay late for something I wouldn't get home until like midnight and have to go right to bed.

If you have friends in the city or you will be working crazy banking hours then I would definitely get a place. Actually I would get a place no matter what as long as you are being paid.

flyingfoggy
Jun 3, 2006

My fellow Obamas...
Anyone know what kind of finance-related things I should know for an interview for an analyst-level internship with a VC firm? I'm sure the modeling is very simple compared to actual finance jobs, but all my past internships have been in tech/biz dev so I need to figure out what I should focus on relearning.

flyingfoggy
Jun 3, 2006

My fellow Obamas...

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)

flyingfoggy
Jun 3, 2006

My fellow Obamas...

Vexxal posted:

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?

It was just a semester of general business courses - it was more traveling around Ireland/Europe than any sort of real focus on school or career. Aren't most undergrad degrees there 3 years? Even if you don't get anything legit out of undergrad you could probably do a masters in the UK or US or something.

flyingfoggy
Jun 3, 2006

My fellow Obamas...

Morrissey. posted:

I'm hoping this is the correct thread for this. If not, I apologize. I'm just looking for a bit of help.

I'm sending out my resume and cover letter to a regional investment bank in hopes of securing a summer internship in 2012. There is no actual posting for the internship, but my father's been working with this group on a big project for a while and gave me the contact information for the/one of the Senior VP(s) at the branch. This is the digital equivalent of a cold call. I don't even know if this firm does internships, I'm just shooting in the dark here. I was filling in the email address and tabbed down to the subject line and drew a giant blank on what to put in there. Any advice? And at that, what would you suggest putting in the body of the email, since my intentions and whatnot are spelled out in the cover letter?

This might be too late - but since you probably have a full semester before they recruit summer interns (if they do) I would email and ask if he could spare a quick call or have coffee or something to ask questions about the profession and his career and any advice and such instead of just cold emailing your resume if nothing is posted and it's not last minute. Then you can follow up later on asking if they are looking to take interns. At the very least (assuming you get the meeting or at least email with him) he probably knows people who do need interns.

flyingfoggy
Jun 3, 2006

My fellow Obamas...

Swingline posted:

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?

You can easily get by (for a summer) on less than $2000 a month, though that will go up if you rent somewhere nice in Manhattan, take cabs often, go to expensive bars and clubs, don't pregame, etc. I made a fraction of your salary this past summer in my non-finance internship, and with some parental assistance with the rent I got along just fine. Just don't blow it all on pricey midtown bars and unnecessary cab rides home, as most of the people I know who were in finance or ivy league social circles seemed to do. There are tons of fun free events, the subway is 24/hr and safe (as is walking), and plenty of really cool bars that are not that expensive.

That being said, don't skimp on things if you are making that much money. Enjoy all the city has to offer while you can, especially the unique experiences you can't have anywhere else. Just don't blow it all on nights out at generic overpriced bars.

flyingfoggy
Jun 3, 2006

My fellow Obamas...
I'm not as well versed on the suits and such, but Bonobos is really excellent for business casual clothing (and potentially suits as well? I only tried a blazer on but it looked great). They essentially specialize in quality material and cuts that actually help a guy look good, unlike the terrible terrible boxy cuts that most major brands use. They also take appointments for fittings in their NY office and their customer service is amazing. The shirts are on the pricier side for an intern budget but at the very least I highly recommend the pants (and spending an hour at a fitting if you are in NYC).

flyingfoggy fucked around with this message at 00:09 on Feb 13, 2012

Adbot
ADBOT LOVES YOU

flyingfoggy
Jun 3, 2006

My fellow Obamas...

Jack Callahan posted:

Can we please not have this degenerate into a Wall Street Oasis-style shitshow?

Seriously. That kind of poo poo was one of the things that helped me realize that I wouldn't fit in with a lot of finance culture. I always felt so douchey just reading that site (even if it was really helpful).

  • Locked thread