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Investment Banking Discussion Thread

Discussion in 'Business, Careers & Education' started by jslade, Mar 9, 2012.

  1. ac21686

    ac21686 Well-Known Member

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    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.
     
  2. Khayembii Communique

    Khayembii Communique Well-Known Member

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

    imolazhp_ci Well-Known Member

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    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.
     
  4. GreenFrog

    GreenFrog Well-Known Member

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    nice username, sir.

    i have a mystic blue zhp (sedan).

    do you have your car in nyc?
     
  5. imolazhp_ci

    imolazhp_ci Well-Known Member

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    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.
     
  6. GreenFrog

    GreenFrog Well-Known Member

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    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?
     
    Last edited: Nov 21, 2012
  7. GIXXER126

    GIXXER126 Member

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    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.
     
    Last edited: Nov 21, 2012
  8. GIXXER126

    GIXXER126 Member

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    Very true! Work long hour, but you're right, don't do any deal chasing!
     
  9. gomestar

    gomestar Well-Known Member

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    NYC
    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".
     
    1 person likes this.
  10. gettoasty

    gettoasty Well-Known Member

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    Home
  11. imolazhp_ci

    imolazhp_ci Well-Known Member

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    two words: zip car.
     
  12. aspasp

    aspasp Well-Known Member

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    ....you're not an MD, you're in a cubicle for 100 hours a week.
     
  13. GIXXER126

    GIXXER126 Member

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    Nothing has changed. Still run models and pitch ideas. Lots of companies, even more bankers.
     
  14. GIXXER126

    GIXXER126 Member

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    Exactly, a shit life! A friend is an Analyst and she starts around 5am and sometimes is catching the last train home at midnight! Would hate to be an analyst!
     
  15. GreenFrog

    GreenFrog Well-Known Member

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    PLEAZZZZZ PUT ME ON IGNORE!!

    how has it taken you so long?!
     
    Last edited: Nov 21, 2012
  16. nootje

    nootje Well-Known Member

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    Netherlands
    

    except that clients these days actually think about strategy instead of letting us ibankers dictate it to them, lessening their propensity to close the deal. And the great banker herd is actually thinning, with predatory regulators and a hostile environment killing more rosy cheecked, well dressed associates and analysts each day....
     
    1 person likes this.
  17. GIXXER126

    GIXXER126 Member

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    You're bang on in the global IB market! I just read 40,000 banking and analyst jobs were being cut by the big banks. We've been isolated from that in Calgary and Saskatoon given the oil & gas sector focus. For those writing their CFA, study hard! Last year there was approx. 120,000 writers, most ever, and the pass rate was lowest ever with 38%. Lots of displaced analysts, bankers and corp. fi. professionals trying to get an advantage in the marketplace.
     
  18. pseudonym

    pseudonym Well-Known Member

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    I'm dying laughing at these "I'm too overqualified for entry level gigs" posts in here. Do you know how bad it is out there?

    Oh well, one guy I won't have to compete with.
     
  19. IChen

    IChen Well-Known Member

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    Sep 3, 2012
    Location:
    Boston
    The situation is different than what it used to be. More and more high school students can read articles about how much investment management at hedge funds can net you per year. Yes I admit I am one of them. I just finished an internship for 6 months at State Street Global Advisors. My internship consisted of deciding/analyzing prices/deciding on which investment areas we should be looking, shorting, options, stocks, etc, whatever.

    And I was so fcking glad it was just an internship, so if I fcked up somehow it didn't matter as much. Because all I had to do was give opinions/suggest prices for advisors/managers who make the final decisions. I think I literally had 3-4 sleepless nights where I woke up with sweat. Unless you're really able to endure and work hard through pressure, finance is just a road where unless you have a huge amount of experience, you basically don't get to take a shot.

    Clients nowadays are actually smarter and are coming up with strategies. And being honest, (yes I am only 21 and had shitty amount of experience maybe even compared to you) your qualifications are basically next to nothing. I think you'd do better staying with engineering. After my internship, I tried to look for a job and it was tough to even get interviews...Sure I had a little experience but there's so much competition it's not like anyone wants to put trust in a lost person like me when there are people with more experience than me.
    I'm actually happy I turned away from finance lol [​IMG]
     
  20. OmniscientCause

    OmniscientCause Well-Known Member

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    Feb 27, 2011
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    Boston, MA
    

    stt is a joke just so you know...people outside of the east coast might not know this but i'll tell you its a complete joke. They care about their employees 0 percent.
     

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