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Investment Banking Discussion Thread - Page 25

post #361 of 619
I had an intern that left our co. to intern in PWM at GS. he needed the money. in a secondary market, he hated it. was super bored.
post #362 of 619
What little I've heard of GS PWM is that it can be a real shark tank. Constant fighting for credit over prospects and sales. Maybe that's mellower than average for Wall Street, but nevertheless something to think about.
post #363 of 619
Anyone notice that the hours for VPs and above seem to be getting much, much worse? Not a comforting trend
post #364 of 619
VP is the toughest point in an investment banking career. It's also the most interesting and challenging part IMO, and the most overpaid (relatively speaking).
post #365 of 619
Quote:
Originally Posted by gdl203 View Post

VP is the toughest point in an investment banking career. It's also the most interesting and challenging part IMO, and the most overpaid (relatively speaking).

it's funny because pre-crisis, we use to say that VP was the sweet spot. Assuming you had a competent associate under you, you'd go from being a work doer to a work giver and could delegate to the associates / analysts and start being able to be out of office at night and during week-ends while getting tons of client interactions without having the pressure of getting mandates and generating fees. then the crisis hit and VPs were vert often the first and easiest to let go....
post #366 of 619
Quote:
Originally Posted by kasper007 View Post

it's funny because pre-crisis, we use to say that VP was the sweet spot. Assuming you had a competent associate under you, you'd go from being a work doer to a work giver and could delegate to the associates / analysts and start being able to be out of office at night and during week-ends while getting tons of client interactions without having the pressure of getting mandates and generating fees. then the crisis hit and VPs were vert often the first and easiest to let go....

Even worse for remaining VPs, banks have tended to hollow out their entire middle ranks, not just VPs. Goodbye associates. So, VPs are getting stuck working directly with analysts, meaning more hands-on work.
post #367 of 619
Not a thrilling prospect for associates, after three (sometimes four) of getting pounded with 100+ hour weeks, you get to look forward to more misery.

MDs are also not leaving firms because their retirements got blasted in the downturn. So you have even longer to look forward to being a VP as well.

woo hoo
post #368 of 619
cfa-who's done it? thinking of signing my life away/june exam.
post #369 of 619
Quote:
Originally Posted by chrisjr View Post

cfa-who's done it? thinking of signing my life away/june exam.

won't do much if anything for you in IB
post #370 of 619

i just took the level 1 exam last Saturday, awaiting the results. 

post #371 of 619
I don't know if this has been posted in this thread as I have not bothered to read it but IMO this link provides some decent insight into doing a good job and bucking up. I don't work in the I-banking field but I do work in retail brokerage to which there is some limited correlation between the two. I see younger guys in the buisness who think that they know what the end goal is but sadly 90% of them screw it up, I'm sure the other fields are the same.

http://epicureandealmaker.blogspot.co.uk/2012/11/the-rules.html
post #372 of 619
Quote:
Originally Posted by A Canuker View Post

I don't know if this has been posted in this thread as I have not bothered to read it but IMO this link provides some decent insight into doing a good job and bucking up. I don't work in the I-banking field but I do work in retail brokerage to which there is some limited correlation between the two. I see younger guys in the buisness who think that they know what the end goal is but sadly 90% of them screw it up, I'm sure the other fields are the same.
http://epicureandealmaker.blogspot.co.uk/2012/11/the-rules.html

Or, in other words:
post #373 of 619
Quote:
Originally Posted by A Canuker View Post

I don't know if this has been posted in this thread as I have not bothered to read it but IMO this link provides some decent insight into doing a good job and bucking up. I don't work in the I-banking field but I do work in retail brokerage to which there is some limited correlation between the two. I see younger guys in the buisness who think that they know what the end goal is but sadly 90% of them screw it up, I'm sure the other fields are the same.
http://epicureandealmaker.blogspot.co.uk/2012/11/the-rules.html

nothing new, but entertaining to read all the same
post #374 of 619
Quote:
Originally Posted by chrisjr View Post

cfa-who's done it? thinking of signing my life away/june exam.

CFA is for investment management, for the most part. If you want a job related to managing investments, this is what you want to get. It won't be very useful, if at all, in IB or even on buy side in certain roles/fields.
Quote:
Originally Posted by concealed View Post

i just took the level 1 exam last Saturday, awaiting the results. 

How'd it go? I'm studying to take it in June, the material seems easy but I'm guessing the volume is what makes it difficult. What'd you use to study aside from the CFA Institute books?
post #375 of 619
Quote:
Originally Posted by Khayembii Communique View Post

How'd it go? I'm studying to take it in June, the material seems easy but I'm guessing the volume is what makes it difficult. What'd you use to study aside from the CFA Institute books?

 

I expected it to be worse than it was. 

 

Friend gave me his old Schweser books/practice exams.  There were a bunch of droolers sitting for the exam that had no shot of passing, made me feel good.

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