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Investment Banking Discussion Thread - Page 22

post #316 of 622
Quote:
Originally Posted by AriGold View Post

get off your smelly ass and go get a shitty entry level finance job and get some experience. work as an analyst in some small firm doing whatever the fuck they want u to do with little pay. leverage that experience since the firm is small and the fact that you have an opportunity to have a hand in everything.
Quit asking styleforum coz noone else can help you be proactive.

this. but less dickish.
post #317 of 622
Quote:
Originally Posted by Khayembii Communique View Post

What am I expecting that's too much? What shitty jobs in finance should I do?

I am sure you could do some miserable operations job at a financial firm (trade support, etc.). Don't do this. You are better off being an engineer and at least having future prospects. Most miserable finance jobs are dead end jobs that a trained monkey could do. Arguably, a trained monkey could be a trader as well, but I digress...

F the CFA. It's awesome, but it won't break down doors for you. You will prob end up going door to door for Edward Jones. A top tier MBA will. I am talking top tier here. UT-Austin, UCLA, Vandy, etc. won't cut it. You can overcome the lack of work experience, mediocre GPA, and non-target undergrad by going top tier (Booth, Wharton, Kellogg, HBS, GSB, Columbia, Tuck).
post #318 of 622
You'll probably learn more in back office at an entry level finance gig than being the front man. Front man does the selling. Back office supplies the front with the knowledge and expertise, the updates, the ins and outs of what is going on now, data analysis/illustrations, and at the CFA level, perhaps even reallocating and moving funds.

Once you have the experience then you do less back office and get to be more of a director/SALES!! uh-oh, in which case you have already gone through the entire process of the back office. If you are that good you'll know what to ask for immediately in order to make a deal/SALE!! and close the books for your business/institution.

At least that is my take on it.

So, you actually feeling you're overly qualified for entry level finance is not true. Rather, you will perhaps move up quicker than your associates. You have to start somewhere. This is also where connections may help tons with placement.
post #319 of 622
Quote:
Originally Posted by GIXXER126 View Post

Assuming you're in banking i would immediately question your level of success. Think about it feom this angle, if you want fat large pay days, you better be hungry for deals because there's dozens of other banks with their bankers who'll eat your lunch! Simple as that! No hard work, no big pay cheque or bonus.

An IB analyst is hardly chasing deals.
post #320 of 622
Quote:
Originally Posted by Joffrey View Post

An IB analyst is hardly chasing deals.

exactly. i work for a super micro firm. there are 3 of us. i'm only associate level but i handle my own deals and get to act in what at many firms would be considered a principal capacity, meetings with principals of other firms, etc. i am toying with an offer from a proper institution, but at the associate level there, i'd be a scrub. i'd make way more money, as most of my compensation comes in deal equity/commission currently, but i would hardly be actively working on deals in an executional sense.
post #321 of 622
Quote:
Originally Posted by Khayembii Communique View Post

Well we have some big names here (NW Mutual, JPMC, US Bank, Wells Fargo, Wells Capital, RW Baird) as well as some MM and boutiques (Artisan included). I'm looking at all of these but I'm also looking in Chicago. I have no problem with moving but think it would be dumb to move before finding a job.
I'm taking CFA Level 1 in June and am confident I will pass.
I want to get an MBA but wanted experience in the field first. I don't want an MBA and CFA with no experience; I'm worried nobody would hire me because I'd be overqualified for entry-level positions and underqualified for positions which I'd normally have access to if I had experience. I asked this earlier in the thread: How much of a problem would it be if I just went for my MBA right now at a top school while pursuing the CFA? Would it realistically be difficult to find a position in the field if I have my MBA and CFA L3 but no experience? If so, would I be underpaid?
Is it just pointless to try to work in the field first because I won't be able to find a job or internship? This seems sort of like a chicken/egg thing.
Looks like I'm hijacking the IB thread again, sorry. I just can't get anyone to answer these questions for me.

Don't see you getting into a top MBA (depending how this is defined) as things stand and what are these "entry level positions" you think you are overqualified for? Very few people are getting into top programs with your resume. AriGold's advice while a bit crude is right.
post #322 of 622
I was talking about the concern of being overqualified for entry positions with an MBA/CFA, not right now, obviously.
post #323 of 622
Quote:
Originally Posted by Khayembii Communique View Post

I was talking about the concern of being overqualified for entry positions with an MBA/CFA, not right now, obviously.

at a BB, post-MBA you'll start at an Associate level. MBA in finance, if you go to a bank, is for people who want a CAREER at an Investment Bank. starting as an Analyst, post-Undergrad is almost always for those looking for exit ops to hedge funds, PE, etc.

some industries, like real estate finance for example, an "analyst" is a more extensive/longer lasting role. most times they require you to have an MBA/MRED or 2-3 years IB experience. the difference being that most real estate finance groups are small and all levels get performance based profit sharing. i know people that work for big real estate houses who's salaries are $60K but cleared $220K as a second year analyst. i only bring up real estate finance because it's what i have experience in. the reason the base salaries are low, but the pay is the same range, is because the deal flow is better.
post #324 of 622
Quote:
Originally Posted by imolazhp_ci View Post

at a BB, post-MBA you'll start at an Associate level. MBA in finance, if you go to a bank, is for people who want a CAREER at an Investment Bank. starting as an Analyst, post-Undergrad is almost always for those looking for exit ops to hedge funds, PE, etc.
some industries, like real estate finance for example, an "analyst" is a more extensive/longer lasting role. most times they require you to have an MBA/MRED or 2-3 years IB experience. the difference being that most real estate finance groups are small and all levels get performance based profit sharing. i know people that work for big real estate houses who's salaries are $60K but cleared $220K as a second year analyst. i only bring up real estate finance because it's what i have experience in. the reason the base salaries are low, but the pay is the same range, is because the deal flow is better.

nice username, sir.

i have a mystic blue zhp (sedan).

do you have your car in nyc?
post #325 of 622
Quote:
Originally Posted by GreenFrog View Post

nice username, sir.
i have a mystic blue zhp (sedan).
do you have your car in nyc?

thank you! mystic blue is great. i used to have an imola zhp coupe... per the name. i do not have a car anymore. i sold the zhp for a Z4 M Coupe. then sold that. now my ride is the MTA.
post #326 of 622
Quote:
Originally Posted by imolazhp_ci View Post

thank you! mystic blue is great. i used to have an imola zhp coupe... per the name. i do not have a car anymore. i sold the zhp for a Z4 M Coupe. then sold that. now my ride is the MTA.

aww man.. sad to hear you sold the zhp. hopefully one day you will buy one again and add it to your stable.

so, question: i plan on moving to NYC for a job change this upcoming summer, and im conflicted about having a car in the city. have you had your zhp and m coupe in the city all this time? i know nyc is terrible for owning cars, but i dunno man.. im the type of guy who has to have a car no matter where i live.

what made you decide to finally sell your cars? pros/cons of having a car in the city?
post #327 of 622
I honestly wish you success in what you do. Just focus your efforts on landing a finance related role to get some experience! There's a lot of good advice here, and some bullshit from those who have no clue, just listen to what's positive here! Do an MBA or CFA, the latter opens the most finance related doors.
Edited by GIXXER126 - 11/21/12 at 7:56pm
post #328 of 622
Quote:
Originally Posted by Joffrey View Post

Quote:
Originally Posted by GIXXER126 View Post

Assuming you're in banking i would immediately question your level of success. Think about it feom this angle, if you want fat large pay days, you better be hungry for deals because there's dozens of other banks with their bankers who'll eat your lunch! Simple as that! No hard work, no big pay cheque or bonus.

An IB analyst is hardly chasing deals.

Very true! Work long hour, but you're right, don't do any deal chasing!
post #329 of 622
here I thought the whole PWM talk was annoying, but leave it to a consultant to further shit up a investment banking thread with BMW talk and requests for a list of "pros/cons of having a car in NYC".
post #330 of 622
LOL!
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