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NYC Finance Internship/Job?

Discussion in 'Business, Careers & Education' started by stayclassy, Jun 2, 2011.

  1. stayclassy

    stayclassy Well-Known Member

    Messages:
    67
    Joined:
    Jun 18, 2010
    Location:
    Land of Enchantment
    Hey guys I am looking for an internship in New York that I can start in January/ February 2012, preferably something with a tuition reimbursement plan so I can finish up my schooling . I am currently a Junior at NMSU studying Finance (3.8 GPA past semester, 3.5 cumulative). I am aspiring to be a Trader and have been immersing myself in the field over the past several months. I am currently an Intern at Portfolio Asset Management, I will be there until December and I am trying to get a start on where to go next. If you guys can help me out or even just point me in the right direction I would greatly appreciate it. Hell, even if you can help me build some connections on my new LinkedIn page I would be grateful. Thanks Brandon
     
  2. GreenFrog

    GreenFrog Well-Known Member

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    14,235
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    Oct 20, 2008
    check out wallstreetoasis.com
     
  3. Souper

    Souper Well-Known Member

    Messages:
    1,151
    Joined:
    Jun 14, 2007
    Location:
    NY, New York
    emerging yourself in the field?
     
  4. uNiCoRnPriNcEsSx

    uNiCoRnPriNcEsSx Well-Known Member

    Messages:
    830
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    Nov 29, 2010
    Location:
    Orange County, CA
    You have a lot of reading to do at WallStreetOasis. Try reaching out to alumni that are working in trading and see if you can meet up with them for lunch. Be prepared with questions. Smart ones.
     
  5. GreenFrog

    GreenFrog Well-Known Member

    Messages:
    14,235
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    Oct 20, 2008
    emerging yourself in the field?

    probably meant immersing myself
     
  6. stayclassy

    stayclassy Well-Known Member

    Messages:
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    Jun 18, 2010
    Location:
    Land of Enchantment
    emerging yourself in the field?

    sorry I felt like something was wrong reading through it, just couldn't pin point it... thanks
     
  7. Souper

    Souper Well-Known Member

    Messages:
    1,151
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    Jun 14, 2007
    Location:
    NY, New York
    No worries.

    Why do you want to be a trader?
     
  8. pseudonym

    pseudonym Well-Known Member

    Messages:
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    May 26, 2009
    I should've posted something like this a while ago, but my interest in my Finance major is quickly waning.

    Bad thing is I'm a junior this September. I'd love it if I could speak to somebody on here who's in the Finance world, but I have no clue where or with whom to start.
     
  9. Souper

    Souper Well-Known Member

    Messages:
    1,151
    Joined:
    Jun 14, 2007
    Location:
    NY, New York
    ..
     
    Last edited: Oct 10, 2011
  10. GreenFrog

    GreenFrog Well-Known Member

    Messages:
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    Oct 20, 2008
    trading is a tough gig - not speaking from experience.

    my best friend's brother is at a trading desk and he's the only one to survive four years of shuffling in a group of 5 traders. everyone else was given the boot and the average duration of stay for each trader is less than a year because they don't make the firm enough money -- that, or they lose the firm money. he said that over the span of four years, they've gone through 40 different traders.

    apparently he is a rainmaker. all about dat dere PnL.

    the hazing stories he's told me about his beginning years in finance.. wow. amazing.
     
  11. meph

    meph Active Member

    Messages:
    26
    Joined:
    Sep 24, 2010
    Location:
    Boston/NYC
    I'll be in banking at one of GS, MS, JPM starting this month. Stay strong! I'll be happy to answer any questions.

    I've got a question - if I buy something from your sale thread will you pass my resume to your MD? [​IMG]

    @OP: check out http://www.mergersandinquisitions.com/ ; I believe they have a FAQ section now which has almost everything you'll need to learn in terms of recruiting and how to best position yourself. You've already got a solid step in the right direction with the internship though, so you're doing something right. Also, as said above, check out WSO but be sure to pay attention to what's bs and what isn't - it takes some time to be able to do this, but when you can filter out the useless trolling it's an excellent resource.

    When you say currently a junior, do you mean a rising junior or rising senior?
     
  12. stayclassy

    stayclassy Well-Known Member

    Messages:
    67
    Joined:
    Jun 18, 2010
    Location:
    Land of Enchantment
    I've got a question - if I buy something from your sale thread will you pass my resume to your MD? [​IMG]

    @OP: check out http://www.mergersandinquisitions.com/ ; I believe they have a FAQ section now which has almost everything you'll need to learn in terms of recruiting and how to best position yourself. You've already got a solid step in the right direction with the internship though, so you're doing something right. Also, as said above, check out WSO but be sure to pay attention to what's bs and what isn't - it takes some time to be able to do this, but when you can filter out the useless trolling it's an excellent resource.

    When you say currently a junior, do you mean a rising junior or rising senior?

    Rising Junior, however I am currently taking summer courses as a Junior.
     
  13. Yachting Man

    Yachting Man Well-Known Member

    Messages:
    172
    Joined:
    May 27, 2011
    Location:
    Soon to be retiring to my Bermuda Sloop
    check out wallstreetoasis.com

    ^ This.

    I've been in investment banking for over 25 long and sleepless years. I've worked at both a traditional Swiss boutique in Switzerland and BB banks in London and NY.

    From experience be advised:

    I have yet to find a person who gets into this line of work because they love it. People do it for either the money, power or the future prospects it grants (exit strategy).

    If you plan on getting married and having kids I hope you have an exit strategy. In this field for the first four or five years it is safe to assume you will cut all ties with family and friends. Reaching VP level doesn't help much in this department either. Stick to it and you can make MD after maybe 15 years if you're lucky (the hours are still horrible).

    Just remember the higher you climb the more stressful it becomes.

    Best of luck.
     
  14. GreenFrog

    GreenFrog Well-Known Member

    Messages:
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    You must be rich as fuck, though.

    Do you have any exotic cars?
     
  15. Yachting Man

    Yachting Man Well-Known Member

    Messages:
    172
    Joined:
    May 27, 2011
    Location:
    Soon to be retiring to my Bermuda Sloop
    You must be rich as fuck, though.

    Do you have any exotic cars?


    Just because one is rich in a monetary fashion does not enrich their life nor does it make them happy. Frankly, I don't consider myself rich in any fashion.

    The things in life worth having are things you cannot buy.
     
  16. meph

    meph Active Member

    Messages:
    26
    Joined:
    Sep 24, 2010
    Location:
    Boston/NYC
    I've been in investment banking for over 25 long and sleepless years. I've worked at both a traditional Swiss boutique in Switzerland and BB banks in London and NY.

    Sorry to threadjack (pm works if you'd rather not change topic on the thread) but I was wondering if you could give a more candid perspective on the differences between Europe/US/boutique/BB? I know the traditional stereotypes they have, but it's hard to really ask people what differentiates the firms in terms of atmosphere, culture, etc. (ie, ask a boutique banker why they like their boutique and they'll just say more responsibility than at a BB, but obviously never really speak ill of their new firm).

    I guess what it boils down to, is should I really care about the supposed "culture" of a bank?
     
  17. GreenFrog

    GreenFrog Well-Known Member

    Messages:
    14,235
    Joined:
    Oct 20, 2008
    Just because one is rich in a monetary fashion does not enrich their life nor does it make them happy. Frankly, I don't consider myself rich in any fashion.

    The things in life worth having are things you cannot buy.


    Damn. You are too wise. Not even being sarcastic.

    I was hoping you'd come out with a list of exotics so I could proceed to kiss ass, but now I'm in an awkward spot.
     
  18. stevent

    stevent Well-Known Member

    Messages:
    9,554
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    Feb 16, 2010
    Most of the richest people I know don't show it unless you know them well. I mean you would never know a friend was the grand daughter of the owner of one of the largest hedge funds in the world by the way she acts.
     
  19. stayclassy

    stayclassy Well-Known Member

    Messages:
    67
    Joined:
    Jun 18, 2010
    Location:
    Land of Enchantment
    I want to be a trader because I am a degenerate gambler, and its the only healthy way I can feed my urges. JK, thats just how I have heard traders being described at work. Really I just find it the most intriguing aspect. I enjoy watching charts, and also developing models in excel (built a pair trading model today), although I don't really understand VBA let alone developing algos. I can see myself trading from home once I gain some experience, or maybe even starting my own hedge fund. Although I find it painful watching the current trader allocate block trades at work. I can also add some publications to my resume as I currently co-write articles for Lee Munson on seeking alpha. As previously stated, I do want to seek mass monetary gain, but I am also genuinely interested in finance. I appreciate people providing me the tip to go to WSO, but I am really looking for some direct connections if anyone has any.
     
  20. Egert

    Egert Well-Known Member

    Messages:
    165
    Joined:
    Jan 16, 2011
    Location:
    Europe
    BTW, just that I work as a sales trader (was recruited while in uni, still 1 year to go before I get meh bachelors). Then I would have 2+ yrs experience and I'd aspire to a trading position as well. Should we maybe do a "enchance my resume/cover letter" thread, so more experienced guys can give some tips or points how to make your resume more attractive (eg. what to add, take out, mention etc). Why don't you seek internships at smaller prop-shops or market makers (most are based in Chicago), because sell-side trading is a whole different game, but maybe that's what ur interested in. And the pure prop is a yesterday's thing @ big banks. As far as I've heard, traders @ IB's rarely succeed outside the comfortable flow of the bank, but prop and mkt making shops really attract the raw trading talent, because you eat what you kill there. Although you won't probably kill anything for a while when you start... [​IMG] BTW, I'm building models in my spare time in excel/matlab as well, currently working on imp.vol curves of distillates to find overpriced 2sd's OTM options for shorting. Learning VBA on my own as well - maybe we can stay in touch? [​IMG]
     

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