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Investment Banking Discussion Thread - Page 14

post #196 of 486
9/28/12 at 2:14pm
I went through TTS training with my incoming class a few years ago. As real world as it gets.
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post #197 of 486
9/29/12 at 10:55pm
Quote:
Originally Posted by Khayembii Communique View Post

I've been avoiding the CFA because it's so many fucking hours to study for it that I could IMO better spend studying independently and networking.
I want to get an MBA from a top 5 school after getting work experience, not right now.
I currently have a full time job as an Engineer, no debt obligations and have a 10-month safety net saved up, so I'm thinking about putting some money towards flying out to NYC or SF to either set up in person meetings or attempting cold-visits. I'd do this after I have a significantly larger amount of knowledge about this stuff, obviously.
To somebody that is motivated it is a matter of "when" and not "if". icon_gu_b_slayer[1].gif
What's the quote? "Persistence plus effort equals success" or something like that?

 

CFA does not help much at career transition.  And its not for banking but asset management.

 

What kind of engineer by the way?  It does not make any sense to go into ibanking if you are in software or energy related engineering.

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post #198 of 486
9/29/12 at 11:01pm
Quote:
Originally Posted by aspasp View Post

 

No one gives a shit that you took a course online to learn how to build a model.



Not sure about banking, but its certainly true for entry level asset management or equity research functions.

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post #199 of 486
9/30/12 at 1:59pm
Quote:
What kind of engineer by the way? It does not make any sense to go into ibanking if you are in software or energy related engineering.

Went to school for Civil, but currently in a Mechanical Engineering position.
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post #200 of 486
9/30/12 at 5:55pm
Quote:
Originally Posted by aspasp View Post

No one gives a shit that you took a course online to learn how to build a model.

This is incorrect. For a career switcher or a non-core school graduate to get wedged into n otherwise very structured recruiting process like banking, anything you can do to demonstrate motivation and interest in the job is additive, including taking courses, teaching yourself concepts and skills, doing informational interviews, etc... People will generally not even pay attention if they are not fully convinced that your application is not just a random shot in the dark with no understanding of what a junior banker do, or any real motivation for the job.
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post #201 of 486
9/30/12 at 8:25pm
it's additive by approximately 0.0002%. Do it, you'll learn a few things, it won't be the deciding factor between make or break, but you don't have much to lose.
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post #202 of 486
9/30/12 at 8:26pm
Quote:
Originally Posted by Khayembii Communique View Post


Went to school for Civil, but currently in a Mechanical Engineering position.

 

Ever considered doing quant work?  Just some ideas. 

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post #203 of 486
9/30/12 at 8:35pm
Quote:
Originally Posted by AriGold View Post

it's additive by approximately 0.0002%.

No really it isn't. When doing off-campus recruiting (and I've done a lot over the years), one of the top question is whether this guy actually knows what he's applying for. I'm not saying he needs to pay $xxxx to get that under his belt but all these things that prove his interest for the job are very important for non-targets.
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post #204 of 486
9/30/12 at 8:47pm

you're going to need a lot more than showing your interest to break into ib if you're from a non target

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post #205 of 486
9/30/12 at 8:55pm
Quote:
Originally Posted by aspasp View Post

you're going to need a lot more than showing your interest to break into ib if you're from a non target

I know this first-hand.
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post #206 of 486
9/30/12 at 9:06pm

what's your story?

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post #207 of 486
10/1/12 at 5:08am
Quote:
Ever considered doing quant work? Just some ideas.

Ick, not really interested, though I should probably be looking into it to take what I can get.
Quote:
Originally Posted by aspasp 
you're going to need a lot more than showing your interest to break into ib if you're from a non target

Go on...
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post #208 of 486
10/1/12 at 1:59pm
Quote:
Originally Posted by gdl203 View Post

No really it isn't. When doing off-campus recruiting (and I've done a lot over the years), one of the top question is whether this guy actually knows what he's applying for. I'm not saying he needs to pay $xxxx to get that under his belt but all these things that prove his interest for the job are very important for non-targets.

When I switched from law to banking, it was pretty helpful to have demonstrated interest through taking modeling courses. And when we interviewed analysts after I made the switch, I found that the other bankers also noted it as a distinct plus.

What percent of college students have you found can't coherently explain the difference between banking and consulting? Seemed like half the candidates I ever interviewed couldn't say. They'd usually fall back on some BS explanation about "really adding value."
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post #209 of 486
10/1/12 at 3:25pm
So mafoofan, since there are quite a few different courses out there (BIWS, IBI, Wall Street Training, etc.) and since you have interviewed analysts and presumably been on hiring committees for this position, which do you think is the most beneficial, both in terms of brand as well as specific courses offered?

Also, networking question: If I know a company's email format, would it be unethical/weird to start cold emailing people at the company? For example, say I know the format is first.last@company.com. Is it wrong or weird to utilize this to cold email? I have so few contacts and I think this could really help widen my contact base but I'm worried people would be like "WTF did you get my email from you stalker?"
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post #210 of 486
10/1/12 at 3:31pm
Inmessage from a Linkedin premium acct would be a better way to go.
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