Genuinely Curious, Why Investment Banking? Once they see my resume and see me walk in and see that im not a hot asian girl, im out lol. Haha that sounds like an interesting story... Got a couple friends at Lazard. [–]Asimoff 2 points3 points4 points 8 years ago (1 child). So I guess they're good with clients but just don't give a shit about their juniors? I haven't seen them in months because of their working schedule. In this year’s class of first-year bankers – known on Wall Street as analysts – 77.5 percent are men, Vettery found. none of us are really going to provide any real value untill your mid 20's or so unless you are a baller. You can make a killing if you can get your foot in the door at the right place and be personable enough that you can get along with a sales/trader jock/bro for 40 hrs a week. Studied finance as a way to protect myself with money when things go to shit. When I think of my worst investment mistakes, two stories stick out in my mind. Not hiring sorry guy. I work in finance as well. This is investment banking, ladies and gentlemen. [–]Detamz 1 point2 points3 points 8 years ago (7 children). i heard its really tough to get a job with finance on wall street. If it must remain confidential, you can. http://www.reddit.com/r/IAmA/comments/13xybd/ive_been_an_investment_banker_working_literally/c78e5xi, [–]heyhowmuchfun 0 points1 point2 points 8 years ago (1 child), i can verify with the mods if you want. He's also the former Democratic Governor of NJ, CEO of Goldman, and major political contributor. your best bet may be to look at a retail brokerage firm and build a book of clients by hustling and cold calling. Full package meaning networking, good interview, etc? I had to look up what superday meant. Which b-school did you go to? They ARE Edward Norton of fight club (outside of the visiting of accident sites, ahah). Reddit user LitlThisLitlThat's former neighbor never did any yard work. There really aren'tt that many prestigious places left with actually wall st addresses. How did you go so young? in my perfect world i help a middle market business that is in a position to grow find money from an investor that has goals for their own fund or family and both parties leave the transaction happy and want to work with us in the future when they are bigger and can pay more in fees for us to help them again. [–][deleted] 0 points1 point2 points 8 years ago (0 children). I'm currently learning all the programming languages you mentioned, so I feel I should be in good shape. the best professors were the old school ones that have been around the block and want to give back and know its more important to teach to students and be understanding than to teach at the b-school for the feather in their cap. Frankly they decided to not renew our contract one year to then decide to renew it half way through the next year where we tripled their rate and they accepted it. you always need accountants, and from what I understand, accountants jobs are hard to automate or outsource. (I have a thick skin, but i'm not a cut throat, fraternity / football player). [–]Mjs157 1 point2 points3 points 8 years ago (1 child). Prior to this he helped institute legislation (Sarbanes Oxley) to keep something like that from ever happening. Actual effective tax rate would be a decent bit lower. Bring you and a whole group of kids in to interview for a full day with a bunch of back to back interviews. One intern who spent last summer at a New York investment bank … Did this in 2008 too, so it was FUN. never heard of it but wouldn't surprise me. so which major do you think has more job opportunities in nyc hr management or finance? [–]Wbankerthrowaway 3 points4 points5 points 8 years ago (3 children). Looks like you're using new Reddit on an old browser. I worked in Wall Street and now I moved to back to my home city working in private equity. i usually come in at 9 or 930 hop on the excel and make some models and powerpoints. It was like seeing a shelter dog - she'd flinch every time the phone rang in the evenings like it was a portent of doom. [–]kevstev 0 points1 point2 points 8 years ago (1 child). OP works for the broker/dealer part. I only ask b/c from my limited understanding (undergrad acct/fin) it seems like a no-brainer for it to be in place. He's a kid and will probably be gone in another year, why would they be giving him stock? I don't really feel any way about it. I Am Ray Ray McElrathbey. You dont get the "FUCK MEEE" nose burn or euphoria with adds. even HBS required 2 years minimum. And it has tons of crazy stories like the 11 you're about to read. I swear I'm not trying to be condescending, but I'm an engineer, trained in one of the finest engineering schools in Europe, have more than twice your experience (time-wise) and am currently repairing bridges to help lift an African nation out of poverty - I'm making less than 30k dollars per year. It’s a great market. [–][deleted] 1 point2 points3 points 8 years ago (1 child), [–]NYBANKERn00b[S] 8 points9 points10 points 8 years ago (0 children), [–]ehs4290 1 point2 points3 points 8 years ago (1 child), [–][deleted] 1 point2 points3 points 8 years ago (4 children). Like I said, the MD I knew who moved over said the incompetence extended to the very top so I'm not sure if even MDs are to blame. NYC is extremely competitive. IamA the founder of a dating app and today is Dating Sunday (seriously, it's a thing), the day which sees the most people log onto online dating services every year. Again, I'm sincerely interested and curious. pm me and i'll take a look at ur resume. Today I went ass out guys. maybe when im in a comfortable financial place i'll build shit. ... you're an ibanker. The end of October marks the celebration of tricks, treats, fright fests and ghoulish scares -- but not all horrifying stories are confined to Halloween. ahhh another major I considered was marketing. [–]Marylandman101 1 point2 points3 points 8 years ago (10 children), [–]NYBANKERn00b[S] 4 points5 points6 points 8 years ago* (2 children). on the same token if an M&A deal causes consolidation in one of the firms then no. It's far from guaranteed but if I do a good job it is in line with the career path I'm on. (typed from phone), [–]penfouky 1 point2 points3 points 8 years ago (3 children). Great recruiting opportunities if you can get by the stigma that stern kids aren't known for their personality. if you are certain IB is what you wanna do then try to leverage your family or friend relationships so you can get somethign that shows an interest in finance. Source- I've studied In both countries, worked finance in a startup founded by ex Merrill people. [–]NYBANKERn00b[S] 1 point2 points3 points 8 years ago (3 children), [–][deleted] 0 points1 point2 points 8 years ago* (2 children). im considering a master's in one of them. Also, what about law degrees? Business management consulting companies like Bain and McKinsey are big into hiring people with PhD's in hard sciences (e.g. How did you get hired right out of college? How do you feel about the Glass Steagall act? He was out within a year- said that management was the worst he'd ever seen in 35+ years of working in the industry. I just set the Guinness World Record for longest distance swim in the ocean on a single breath. How true is this. Seriously though, I think everyone on Wall Street has heard the Lazard horror stories. Same thing with the actuarial exams. They create little activities for you - reviews and seminars - that only detract from the time spent on the job at hand. I want to go back to a small trading or prop shop. [–]NYBANKERn00b[S] 1 point2 points3 points 8 years ago (2 children). Hi Reddit! I want to take the money I earn here and start a business doing something I love. Took her 6 months to adjust to a culture where you were treated like a human being. To the point where i banks would hire lacrosse players and put them behind a desk somewhere just to have them on the company team. 4/5 of the analysts in my group left early. I'm also an engineer, trained in one of the mid-level engineering schools in the US, I've got half your experience, and make $75k USD per year. Do you honestly think a blackberry is better than it's competition? Take into account Manhattan taxes, cost of living (i share an apt with 3 other guys and we pay 5200 collectively for a 3 bed 4 convert, pay on an hourly rate and we're not far ahead of the game. what are my odds of becoming a prop trader with a management degree from an ordinary university (Grant MacEwan, Canada) also how important are university transcripts? I was interviewing for an ibanking position during the Fall my senior year of college (I attended a top university as well) at a major bank. EDIT: Also, why the heck do they not change things when this is happening? He mentioned that out of his intake, less than half stayed more than a year (I'm assuming this was on the standard two year contract, but I'm happy to be corrected). 9am-3am, not just a few weeks a year, but for months, no Saturdays off (which has I believe been adopted unilaterally across the bulge bracket) and some particularly incompetent management. I am Justin Kan, cofounder of Twitch (world's biggest live-streaming platform). Lisa Du Jun 20, 2012, 11:39 PM ... and asked them to share their best stories about their worst bosses. they just want raw brainpower from someone who they won't hate being around for 80 hrs a week, [–]rae1988 0 points1 point2 points 8 years ago (7 children), [–]parlor_tricks 0 points1 point2 points 8 years ago (6 children). Sadly i have a girl's name. Press question mark to learn the rest of the keyboard shortcuts, http://www.brobible.com/life/article/veronica-vain-wall-street-porn-star/. What is an average work day like for you? HR hands them a stack of say 200 resumes they recieve from networkign events, online apps, ect... adn they need to pick maybe a dozen for the target school. [–]NYBANKERn00b[S] 0 points1 point2 points 8 years ago* (3 children). When the user couldn't stand the out-of-control grass … When a fund has say 100M (small-mid size ammount) to invest and you take 5% as a IB fee it adds up to be very profitable. I’ve talked to numerous investors in the past who would love a piece of that business. [–]NYBANKERn00b[S] 5 points6 points7 points 8 years ago (6 children), IMO there's always gonna be a need for HR people regardless of the economy. These guys are gennerally the same as the boiler room guys and you can smell them from a mile away. Do you think your industry is trying to find deals that are legit and pencil out or are they still trying to pass off crap to the public markets just so you can get a big payday in commissions? I have friends (analysts or bottom of the totem poles) at the big places who come in at 930-10am and leave at 1 or 2 am sometimes. Aren't you young at 24 to have an MBA? Those managers can't all invest in the same good ideas (see:diversification) so they need people who bring them good ideas (investment bankers) becuase the fund managers don't have the resources to vet every idea to see if its gonna help their bottom line. I personally prefer the real thing. He showed me a letter he'd written to several members of the board detailing his concerns (after he had left). [–][deleted] 1 point2 points3 points 8 years ago (3 children). loot the best scotches I can find and wait it out hoping lower Manhattan is the fortress it's hyped up to be. I was stupid for jumping from the prop to agency side, but was too young to know better, the area I am in sounds really sexy, and it is in reality pretty cool, but a stupid move nonetheless. Many of the world’s brightest young minds are lured into investment banking (IB) for the wrong reasons. I think their size has allowed them to escape the scrutiny that Citi, BAML etc.. have during the crisis (working analysts to the bone is just another strike newspapers can use against them) and they don't have the 'temple of evil' reputation that Goldman has. I mean, are there even envelope pushers anymore? I mean, I don't even understand what you do very well - for all I know you're contributing more to mankind than I am. I majored in human resources management do you think thats an in demand field in new york? Alexis Goldstein. Not gonna do this my whole life. [–]rae1988 0 points1 point2 points 8 years ago (1 child). what you say just doesn't make sense unless you're counting 401k or something as your withholdings/"tax". [–]StaffSgtDignam 0 points1 point2 points 8 years ago (1 child). Then they in a perfect world those very smart IBankers make good money, get out of the game in their 30's rich, spend time with their kids and have a very good idea how to run a business because they had to pick good businesses, [–][deleted] 0 points1 point2 points 8 years ago (1 child). do you pick the kid with a 1510 SAT and a 3.8 or the guy you know with a 1420 and a 3.4? yeah im considering an ms in hr management from pace university. http://www.brobible.com/life/article/veronica-vain-wall-street-porn-star/. Tell the World Your Banking Horror Story. I work at a broker/dealer on Wall Street and specifically studied finance with specific investment banking courses at a top 5 business school. I need to feel better about myself. Best investment app for banking features: Stash Like Acorns, Stash is one of the best investing apps for beginners. You cannot possibly be serious with that spelling of scenarios. definitely a means to the freedom money allows which = happiness for me at least. The future of the jobs in the industry are going to be tech focused and a lot of the postings I see want SQL/VBA/C++ or other programming experience, especially with the automation of trading. SS, meicare, ny city tax, ny state tax, fed tax, and im forgetting 1 or two things. [–]parlor_tricks 0 points1 point2 points 8 years ago (4 children). Others were relocated to mid-office/bad teams without being told in advance. What America needs least is more HR. cheeper to keep a client than find a new one, [–][deleted] -1 points0 points1 point 8 years ago (1 child), [–]Dancemanleo 0 points1 point2 points 8 years ago (6 children). I consider the finance & business aspect as what I apply my tech knowledge to. A pigeon can still put a deposit on a Porsche... ya i came from a top 5 undergrad b-school and an athlete and it took me 8 months to find a job in 2011. when i came in in 07 i thoght i'd have an offer and a 5 figure signing bonus by febuary that year, [–]spitfire9107 0 points1 point2 points 8 years ago (1 child). it'll cost you like $500 at some of these places and you won't make dick for like 6 months. I think that'd be super fulfilling. any tips for my friend who has a bachelors in finance from baruch. AMA! I'm the type that came from the 1st batch. Shitty stock. Together and the odd family money guy who 's actually producing value for the ). Pass rate for the really expensive shit is only 52 % after ss all! Online when they receive literally hundreds of resumes from each target school, on campus interviews, did post. Rote learning in colleges here badly tax rate 'll cost you like that... Accident sites, ahah ) that work on the job propsects like you. 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