- 709
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- Jan 4, 2011
I'll PM you tomorrow, I got plenty of questions to ask you. Thanks for the response in advance
Investment Bankers or Anyone In the Field....
- Thread in 'General' Thread starter Started by campbellsoup,
- Start date
- 709
- 10
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- Jan 4, 2011
I'll PM you tomorrow, I got plenty of questions to ask you. Thanks for the response in advance
- 6,782
- 18
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- Dec 29, 2006
I can talk about i-banking all day
Anyways, my background:
I interned over the summer at a bulge bracket. I accepted an analyst offer for a different BB bank and will start this summer.
Some high-level advice though:
Like another NTermentioned visit mergers and inquisitions as well as ibankingfaq. Readeverything on both websites.
Other resources:
Vault Guide to Investment Banking - will give you a goodoverview of the industry and roles of different deal team members, i.e.Analyst, Associate, VP, Director, Managing Director.
Vault Guide to finance interviews – if you have 2 hours toprep for the interview and nothing more, this is what I would read.
Wallstreetoasis.com – this website is full of tools whowould sell their souls to work at Goldman or KKR, but the forums are great tointeract with other people in your shoes. Warning: The forum is heavilyweighted towards people trying to break into the industry.
dealbook.nytimes.com – New York Times Deal Book ß--make this your homepage. Bankers workon financing and mergers. You need to know what firms are doing what deals, whois buying who, valuations, etc.
At your level, you shouldn’t be worried about league table standings or exitopportunities You need to focus on getting your foot into the door…..any door.Don’t be one of the tools who is GS/MS or bust. Once you’re in, it’s easy tomove around after your summer internship.
Again come with specific questions and I'll be happy to helpand share my internship experience as well. Also, there are somecurrent/ex-analyst on NT
PS: my friends tell me the guy in the video worked backoffice at Morgan Stanley and wasn't a real banker.
Anyways, my background:
I interned over the summer at a bulge bracket. I accepted an analyst offer for a different BB bank and will start this summer.
Some high-level advice though:
Like another NTermentioned visit mergers and inquisitions as well as ibankingfaq. Readeverything on both websites.
Other resources:
Vault Guide to Investment Banking - will give you a goodoverview of the industry and roles of different deal team members, i.e.Analyst, Associate, VP, Director, Managing Director.
Vault Guide to finance interviews – if you have 2 hours toprep for the interview and nothing more, this is what I would read.
Wallstreetoasis.com – this website is full of tools whowould sell their souls to work at Goldman or KKR, but the forums are great tointeract with other people in your shoes. Warning: The forum is heavilyweighted towards people trying to break into the industry.
dealbook.nytimes.com – New York Times Deal Book ß--make this your homepage. Bankers workon financing and mergers. You need to know what firms are doing what deals, whois buying who, valuations, etc.
At your level, you shouldn’t be worried about league table standings or exitopportunities You need to focus on getting your foot into the door…..any door.Don’t be one of the tools who is GS/MS or bust. Once you’re in, it’s easy tomove around after your summer internship.
Again come with specific questions and I'll be happy to helpand share my internship experience as well. Also, there are somecurrent/ex-analyst on NT
PS: my friends tell me the guy in the video worked backoffice at Morgan Stanley and wasn't a real banker.
- 6,782
- 18
- Joined
- Dec 29, 2006
I can talk about i-banking all day
Anyways, my background:
I interned over the summer at a bulge bracket. I accepted an analyst offer for a different BB bank and will start this summer.
Some high-level advice though:
Like another NTermentioned visit mergers and inquisitions as well as ibankingfaq. Readeverything on both websites.
Other resources:
Vault Guide to Investment Banking - will give you a goodoverview of the industry and roles of different deal team members, i.e.Analyst, Associate, VP, Director, Managing Director.
Vault Guide to finance interviews – if you have 2 hours toprep for the interview and nothing more, this is what I would read.
Wallstreetoasis.com – this website is full of tools whowould sell their souls to work at Goldman or KKR, but the forums are great tointeract with other people in your shoes. Warning: The forum is heavilyweighted towards people trying to break into the industry.
dealbook.nytimes.com – New York Times Deal Book ß--make this your homepage. Bankers workon financing and mergers. You need to know what firms are doing what deals, whois buying who, valuations, etc.
At your level, you shouldn’t be worried about league table standings or exitopportunities You need to focus on getting your foot into the door…..any door.Don’t be one of the tools who is GS/MS or bust. Once you’re in, it’s easy tomove around after your summer internship.
Again come with specific questions and I'll be happy to helpand share my internship experience as well. Also, there are somecurrent/ex-analyst on NT
PS: my friends tell me the guy in the video worked backoffice at Morgan Stanley and wasn't a real banker.
Anyways, my background:
I interned over the summer at a bulge bracket. I accepted an analyst offer for a different BB bank and will start this summer.
Some high-level advice though:
Like another NTermentioned visit mergers and inquisitions as well as ibankingfaq. Readeverything on both websites.
Other resources:
Vault Guide to Investment Banking - will give you a goodoverview of the industry and roles of different deal team members, i.e.Analyst, Associate, VP, Director, Managing Director.
Vault Guide to finance interviews – if you have 2 hours toprep for the interview and nothing more, this is what I would read.
Wallstreetoasis.com – this website is full of tools whowould sell their souls to work at Goldman or KKR, but the forums are great tointeract with other people in your shoes. Warning: The forum is heavilyweighted towards people trying to break into the industry.
dealbook.nytimes.com – New York Times Deal Book ß--make this your homepage. Bankers workon financing and mergers. You need to know what firms are doing what deals, whois buying who, valuations, etc.
At your level, you shouldn’t be worried about league table standings or exitopportunities You need to focus on getting your foot into the door…..any door.Don’t be one of the tools who is GS/MS or bust. Once you’re in, it’s easy tomove around after your summer internship.
Again come with specific questions and I'll be happy to helpand share my internship experience as well. Also, there are somecurrent/ex-analyst on NT
PS: my friends tell me the guy in the video worked backoffice at Morgan Stanley and wasn't a real banker.
- 1,343
- 11
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- Feb 25, 2005
i hear there's no balance between life and work. just work. That's just what i hear but good luck.
- 1,343
- 11
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- Feb 25, 2005
i hear there's no balance between life and work. just work. That's just what i hear but good luck.
- 959
- 12
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- Nov 8, 2004
If you're in IBD, as an analyst that's fairly true. Associates have a bit more freedom though. It's generally one of the most intensive professions, but it is certainly reflected in the pay and commission/bonus.
@Throwed, you have a username on WSO? Definitely +$%$@$#%$ city
- 959
- 12
- Joined
- Nov 8, 2004
If you're in IBD, as an analyst that's fairly true. Associates have a bit more freedom though. It's generally one of the most intensive professions, but it is certainly reflected in the pay and commission/bonus.
@Throwed, you have a username on WSO? Definitely +$%$@$#%$ city
- 357
- 13
- Joined
- Jul 17, 2004
The kids on WSO would flame you to death for saying that. Prestige and reputation are the most important factor for them, and they all aiming for the same exit opps KKR/TPG/BX/Carlyle...
Also, they won't accept anything less than GS TMT or MS M&A...
- 357
- 13
- Joined
- Jul 17, 2004
The kids on WSO would flame you to death for saying that. Prestige and reputation are the most important factor for them, and they all aiming for the same exit opps KKR/TPG/BX/Carlyle...
Also, they won't accept anything less than GS TMT or MS M&A...
- 709
- 10
- Joined
- Jan 4, 2011
Thanks for the info, I'm slowly soaking it all in and bookmarking pages. Ill definitely be in touch via PM.
- 709
- 10
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- Jan 4, 2011
Thanks for the info, I'm slowly soaking it all in and bookmarking pages. Ill definitely be in touch via PM.
- 742
- 10
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- Nov 18, 2004
I'd say the first thing you should really think about is why exactly you want to enter the field. If it is money, then you should take some more time to think about it.
The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed. I'm sure there's got to be something about the field that interests you.
Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:
1) Right now, you're a jr. in college. You have numerous options to do what you want in life. This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility.
2) How should you measure these potential payoffs? Well, that is where priorities come in. It really depends on what YOU value in life. Is it money? Is it traveling around the world? Is it attaining knowledge? Spending time with family? Having freedom? Or some combination? We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it. What is most important to you?
3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life. Again, to which activities would you like to allocate your time? In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else.
4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity. But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal). Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.
5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider.
A bit repetitive, but I don't feel like editing.
Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life. Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life. I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.
The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed. I'm sure there's got to be something about the field that interests you.
Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:
1) Right now, you're a jr. in college. You have numerous options to do what you want in life. This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility.
2) How should you measure these potential payoffs? Well, that is where priorities come in. It really depends on what YOU value in life. Is it money? Is it traveling around the world? Is it attaining knowledge? Spending time with family? Having freedom? Or some combination? We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it. What is most important to you?
3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life. Again, to which activities would you like to allocate your time? In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else.
4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity. But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal). Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.
5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider.
A bit repetitive, but I don't feel like editing.
Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life. Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life. I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.
- 742
- 10
- Joined
- Nov 18, 2004
I'd say the first thing you should really think about is why exactly you want to enter the field. If it is money, then you should take some more time to think about it.
The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed. I'm sure there's got to be something about the field that interests you.
Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:
1) Right now, you're a jr. in college. You have numerous options to do what you want in life. This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility.
2) How should you measure these potential payoffs? Well, that is where priorities come in. It really depends on what YOU value in life. Is it money? Is it traveling around the world? Is it attaining knowledge? Spending time with family? Having freedom? Or some combination? We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it. What is most important to you?
3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life. Again, to which activities would you like to allocate your time? In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else.
4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity. But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal). Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.
5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider.
A bit repetitive, but I don't feel like editing.
Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life. Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life. I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.
The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed. I'm sure there's got to be something about the field that interests you.
Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:
1) Right now, you're a jr. in college. You have numerous options to do what you want in life. This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility.
2) How should you measure these potential payoffs? Well, that is where priorities come in. It really depends on what YOU value in life. Is it money? Is it traveling around the world? Is it attaining knowledge? Spending time with family? Having freedom? Or some combination? We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it. What is most important to you?
3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life. Again, to which activities would you like to allocate your time? In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else.
4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity. But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal). Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.
5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider.
A bit repetitive, but I don't feel like editing.
Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life. Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life. I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.
- 8,485
- 1,318
- Joined
- Mar 30, 2010
i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.
i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.
i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.
- 8,485
- 1,318
- Joined
- Mar 30, 2010
i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.
i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.
i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.
- 3,784
- 12
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- Jul 12, 2007
i cant stand 99% of posters on WSO
that place is a joke
that place is a joke
- 3,784
- 12
- Joined
- Jul 12, 2007
i cant stand 99% of posters on WSO
that place is a joke
that place is a joke
- 5,485
- 14
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- Jul 24, 2007
What type of engineering?
Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment.
The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work.
From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't.
- 5,485
- 14
- Joined
- Jul 24, 2007
What type of engineering?
Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment.
The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work.
From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't.
- 5,485
- 14
- Joined
- Jul 24, 2007
Most of em are kids who know nothing about the real world and would sacrifice their mother for being able to say "I work M&A at MS or Lev Fin at ML!". No different then kids willing to do the same to become a rapper or a ball player. Just jokesters.
- 5,485
- 14
- Joined
- Jul 24, 2007
Most of em are kids who know nothing about the real world and would sacrifice their mother for being able to say "I work M&A at MS or Lev Fin at ML!". No different then kids willing to do the same to become a rapper or a ball player. Just jokesters.
- 8,485
- 1,318
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- Mar 30, 2010
MechE. and hell no i'm not going into IB.
i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well.
i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys
- 8,485
- 1,318
- Joined
- Mar 30, 2010
MechE. and hell no i'm not going into IB.
i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well.
i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys
- 959
- 12
- Joined
- Nov 8, 2004
Look into GE's Financial Management Program. Could be the best of both worlds from what u just described.Originally Posted by DT43
MechE. and hell no i'm not going into IB.
i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well.
i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys
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