[–]pandadisco 2 points3 points4 points 8 years ago (1 child). Got greedy and lost it all. You cannot possibly be serious with that spelling of scenarios. from what I've experiences, hiring practices, [–]StaffSgtDignam 0 points1 point2 points 8 years ago (17 children). [–]kace91 0 points1 point2 points 8 years ago (1 child), [–]OnaniMasterKurosawa 0 points1 point2 points 8 years ago (7 children). As such, nobody I knew recieved any offers but, regardless, I'd be interested to know what the issues are nowadays... [–]NYBANKERn00b[S] 4 points5 points6 points 8 years ago (11 children). Which b-school did you go to? Banks are huge, most JD's are very very useful in compliance divisions to be sure we are following the regulations. [–]Detamz 1 point2 points3 points 8 years ago (7 children). Often culture forms over time. most girls I end up hooking up with are ~27 28, [–][deleted] 0 points1 point2 points 8 years ago (14 children). ahhh another major I considered was marketing. [–]NYBANKERn00b[S] 2 points3 points4 points 8 years ago (3 children). Retail Horror Stories Flying Gaming Console. RIM - Is this a stock that is going to keep climbing back up, or is it a lost cause? The question is, do you want to work on the business side of things, or technology? If you can nail your CS major and show you have an interest in finance they'll teach you all the other shit. Although working as an investment banking analyst was a living hell at the time, I now look back at my years with nostalgia. [–][deleted] 0 points1 point2 points 8 years ago (5 children), [–]NYBANKERn00b[S] 8 points9 points10 points 8 years ago (4 children), I personally think Obama is underrated. [–]NYBANKERn00b[S] 4 points5 points6 points 8 years ago (13 children), I dont have a pay stub handy but after everything i take home 48% of my comissions. just show you're interested in the field by knowing whats going on in the relevant markets to the T and you should be good. I've often heard that this was the case. Best investment app for banking features: Stash Like Acorns, Stash is one of the best investing apps for beginners. However change is slow, and the early years of investment banking are viewed as a right of passage, a hazing that proves your work ethic. [–]NYBANKERn00b[S] 5 points6 points7 points 8 years ago (2 children). these are guys who already have shit due yesterday that they don't want to work on on the weekends. I picked up one of my juniors a few years back from Lazard. Now, all of these (and others I shan't bore you with) are anecdotal of course, but I was wondering if you had heard anything similar. Another classic business would be mergers and acquisitions, which are a bunch of guys that assist companies buying and merging with others, and also help companies go public. [–][deleted] 1 point2 points3 points 8 years ago (1 child), [–]NYBANKERn00b[S] 8 points9 points10 points 8 years ago (0 children), [–]ehs4290 1 point2 points3 points 8 years ago (1 child), [–][deleted] 1 point2 points3 points 8 years ago (4 children). you need a good internship in anything finance that summer to get your foot in the door, then the following summer you should aim to be in a division or sector in finance you want, summer post jr year you aim for the firm and team you want and if you do a good job you should be a lock in for an offer. Other groups may be more liberal when it comes to summer dress code, unfortunately were not Your suit jacket is a straitjacket. This comment was generated by a robot! I dont have an MBA, it was undergrad bschool. Is it higher up than you? These guys take orders and actually get them traded. Source- I've studied In both countries, worked finance in a startup founded by ex Merrill people. Oh my god...nothing has made me want to complete the CFA more than having a shot at doing some porn related VC with Veronica Vain... Have a friend in banking there now. no real sense of community, very cut throat unless you are part of the business frats which are majority asian kids. I think that'd be super fulfilling. Voice Acting! and seriously, none of your income comes from capital gains? the way I look at is that there are so many people (most of america) with money saved that want to make more than .02% in their checking or savings account. HR hands them a stack of say 200 resumes they recieve from networkign events, online apps, ect... adn they need to pick maybe a dozen for the target school. yeah i loved legos growing up (engineering or architecture)and im really good at marketing but i have some side business that me and my buddies are starting. [–]NYBANKERn00b[S] 2 points3 points4 points 8 years ago (1 child). IMO. Consider an asset-based strategy that can leverage the investment dollars in your portfolio and be tailored to your preferences. I can answer from now till 3:40 PM Eastern when I board my flight. Could you elaborate further on hiring practice issues? John Harper and Sean Nittner discussing AGON, A fast-paced tabletop roleplaying game of heroic adventure in a mythic world and the PARAGON system. my boss was an engineer who worked at GE for years. According to him, the hours were brutal, even for Wall Street. Good programmers or Comp Sci guys can make a killing at prop trading firms or at the bulge bracket firms with the right background or interest in finance. Since I'm not from a top B school, or even a mid-range school, how could I get in? A team I used to work for hired a Director who had worked for them. [–]davidrab 0 points1 point2 points 8 years ago (0 children). also, the guys picking resumes really dont give two shits. Those IBankers need to be very good at finding companies will make money and need money to make money. never heard of it but wouldn't surprise me. Would you ever consider going into developmental economics or public policy after you "retire"? Are you a trader or an actual banker? just be sure your story makes sense, [–]MultipleMatrix 0 points1 point2 points 8 years ago (2 children). this starts freshman year of college. ss investment banking vs asset management reddit, Difference Between Asset Management vs Wealth Management. and how much would a killing be? not very but it'll make things alottttttttttt easier. He mentioned that out of his intake, less than half stayed more than a year (I'm assuming this was on the standard two year contract, but I'm happy to be corrected). Easily out doing any of the exams American students are exposed to. Sadly i have a girl's name. my bad. Can you see it? I must have had 6-8 superdays at serious places like citi and guggenheim on their trading floors. I calculate that even if you were taxed every dollar at the highest rate(not taking into account the progressive nature of all 3 income taxes you pay) and included both halves of payroll tax as if you you were a contractor. This means getting your order to the exchange floor (or server), getting the trade executed, and handling all the paperwork to make sure that the securities actually get registered in your name. It was like seeing a shelter dog - she'd flinch every time the phone rang in the evenings like it was a portent of doom. if his paycheck really is only 52% it isn't taxes that knocks it down there. CNN Money got one of the all-time greatest credit horror stories when it found Toni Riss of Texas and her First Premier card's 79.9% interest rate. It doesn't change the top tier college exams though, the IITs for example, have a brutal exam, getting to the top is not possible with cheating. From what I know, it is very very difficult to break into banking at any level. [–]Asimoff 2 points3 points4 points 8 years ago (1 child). My friend is about to graduate with a bachelors in finance from baruch any tips for him to make it on wall st? For example, if planning for the income needs of a spouse is your priority, then you can leverage a $500,000 investment by turning it into a $1.5 million death benefit – payable to your spouse tax-free. i don't have actual problems, i'm lucky and i'll try to remember these days when i do have real problems (health, family, money...), Something uncommon that plays a central role in your life, or, Proof should be included in the text of the post when you start your AMA. Heard this story today. I heard curling was big on Wall Street too. Great recruiting opportunities if you can get by the stigma that stern kids aren't known for their personality. (typed from phone), [–]penfouky 1 point2 points3 points 8 years ago (3 children). Its very much appreciated. That's amazing. the best professors were the old school ones that have been around the block and want to give back and know its more important to teach to students and be understanding than to teach at the b-school for the feather in their cap. Perhaps I'm completely jaded - but this is a myopic representation of "misconceptions." what are my odds of becoming a prop trader with a management degree from an ordinary university (Grant MacEwan, Canada) also how important are university transcripts? but ok, i'm curious: what did "you" do before bschool? none of us are really going to provide any real value untill your mid 20's or so unless you are a baller. This is investment banking, ladies and gentlemen. [–]kzhs 0 points1 point2 points 8 years ago (0 children), http://online.wsj.com/article/SB120718315926985109.html. Have you heard any Lazard horror stories? Why would he be getting capital gains? 119. I'm not sure if you're still answering this but in the event that you are, are there jobs for someone with an engineering background on wall street? As in what does your work consist of, how long are you working and do you enjoy your job? Actual big bankers screw the public from the front, and are thanked. cheeper to keep a client than find a new one, [–][deleted] -1 points0 points1 point 8 years ago (1 child), [–]Dancemanleo 0 points1 point2 points 8 years ago (6 children). How did you get hired right out of college? Ask me anything! [–]Spartyon 5 points6 points7 points 8 years ago (4 children). There really aren'tt that many prestigious places left with actually wall st addresses. you are overdoing the voice, op. Asset management firms are concerned with maximizing returns of client’s assets. The card, which targets consumers with poor credit, was Riss' lifeline after she'd gone through bankruptcy to pay medical expenses But her rate went from an introductory 29.9% to 79.9%. if a deal goes well and a company is able to take their operations to the next level as a result of the money we helped them raise then yes. I am world renowned author of dinosaur, unicorn, bigfoot and living object romance Chuck Tingle here to talk about my show and anything else that proves love is real AMA! a great case study in my opinion is the austerity measures in europe and how they're doing and the stimulus in the stats and how were doing. If you have a strong background in a computer science field and like finance definitely go for it. Half that for me in commissions taxed at 52% after SS and all. Some groups are doing well, but when they want to expand, they are increasingly being told they can get an extra head for their group, but it has to be in a low cost area like india, china, or eastern europe. Redditor themightythor conveyed a retail horror story from his girlfriend’s time working at Hastings. [–]NYBANKERn00b[S] 3 points4 points5 points 8 years ago (8 children), both would help. I'd rise up with you guys. His effective tax rate should be in the the high 30's low 40's tops. Err do note, that the CFA exam itself isn't a cakewalk. [–]wheyjuice 0 points1 point2 points 8 years ago (1 child). If you guys have any good horror stories from playing the stocks, please share. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. dont get me wrong its gratifying to close a deal and get paid as well but there a different kind of satisfaction in building something. Not to mention another round of graduates being dumped on an already saturated job market in the industry. Thanks. they'll pick maybe 6 guys wiht 4.0's some athletes and a handfull they remember from the networkign events. How much hooking up goes on in i-banks between the men and women? No Personal Finance, Homework, Personal blogs, or Career-related posts. nyu, very clicky and super asian. spelling isn't a job requirement, [–]Spartyon 0 points1 point2 points 8 years ago (2 children). in my perfect world i help a middle market business that is in a position to grow find money from an investor that has goals for their own fund or family and both parties leave the transaction happy and want to work with us in the future when they are bigger and can pay more in fees for us to help them again. i know some relationships in the banks, it works because the lifestyles are the same and most of the client facing people are good looking. What is an average work day like for you? It helped me immensely during my interview process and definitely plays a factor when i interview and hire people. Scouts honor, I have thought about going back to school for engineering. FINRA is a bitch to have a membership in because they can do whatever they want and you are guilty until proven innocent. [–]branlmo 0 points1 point2 points 8 years ago (22 children), [–]NYBANKERn00b[S] 8 points9 points10 points 8 years ago* (21 children), Slow year, around 100,000. it just makes you stand out against the 300 other resumes. [–]rae1988 0 points1 point2 points 8 years ago (0 children). the retail guys are the one who call docs, lawyers, your rich neighbor and hawk them for the next penny stock that'll make em rich like on boiler room. Do you think your industry is trying to find deals that are legit and pencil out or are they still trying to pass off crap to the public markets just so you can get a big payday in commissions? Is partying hard core every weekend with co-workers a necessity to climbing the corporate ladder at the average i-bank? So I guess they're good with clients but just don't give a shit about their juniors? Take home is more ~60k I have friends who popped 130 after bonus. That's the dumbest thing I've ever heard. you wouldnt beleive some of the i dont belong at this party/how did i get into this penthouse/i cant believe it workedddd stories, [–]kzhs 0 points1 point2 points 8 years ago (3 children). However, for the early twenty-somethings with a quantitative mind, a cfa is do-able, along with the first few actuarial exams. big insurance firm) for the next tiers of actuarial exams, which gets you pay raises but... thats 70-90 hours a week. Reddit user LitlThisLitlThat's former neighbor never did any yard work. [–]NigerianHustler 0 points1 point2 points 8 years ago (1 child), [–]NYBANKERn00b[S] 5 points6 points7 points 8 years ago (0 children). [–]parlor_tricks 0 points1 point2 points 8 years ago (2 children). I know I don't have a quant bent of mind, and really didn't like a lot of the BS I had to throw together on some occasions but...hmm. Here's what I'm confused about. i heard its really tough to get a job with finance on wall street. I notice a lot of folks in this sub wanting to break into IB, undergraduates and seasoned professionals alike. This is LITERALLY the most interesting thread posted this minute. [–]jharl 0 points1 point2 points 8 years ago (2 children). What America needs least is more HR. i'm only 17, don't think i'm an idiot for not knowing. yeah im considering an ms in hr management from pace university. [–]NYBANKERn00b[S] 5 points6 points7 points 8 years ago (6 children), IMO there's always gonna be a need for HR people regardless of the economy. After i get a job, i really want to become an "independent contractor" for a non-profit that offers a 527b plan. I am Justin Kan, cofounder of Twitch (world's biggest live-streaming platform). Do you honestly think a blackberry is better than it's competition? What is the most fucked up thing about the industry? © 2021 reddit inc. All rights reserved. Poor girl had a million mile stare. You Can Now Read Other People’s Banking Horror Stories. I've heard the cfa exam is a piece of cake compared to the actuarial exams. Lack of knowledge with VBA/C++/SQL and the like are actually disqualifying me from a lot of the trading jobs I could have applied for 5 or 10 years ago. Oh I know that data. If he's coming from a non-target school he'll either need to network his balls off or try to move up from the back office. [–]NYBANKERn00b[S] 1 point2 points3 points 8 years ago (2 children). very must like a frat, [–]blackweasel30 0 points1 point2 points 8 years ago (1 child). Or are those sort of pointless to care about when you're making 100k? Different people assess different stuff, and its built to wear you down. How many girls have you actually banged since working on the st? Use of this site constitutes acceptance of our User Agreement and Privacy Policy. [–]rae1988 0 points1 point2 points 8 years ago (1 child). if you do a good job and you make the firm moolah, mid 6 fig doesnt sound crazy to me, [–]Marylandman101 1 point2 points3 points 8 years ago (5 children), [–]NYBANKERn00b[S] 5 points6 points7 points 8 years ago (4 children), there are two main players, retail brokers and institutional brokers. [–]invRice 0 points1 point2 points 8 years ago (1 child). Where Stash stands out is its account options: For a … To intern at an investment bank these days is to drink the corporate Kool-Aid. I was interviewing for an ibanking position during the Fall my senior year of college (I attended a top university as well) at a major bank. NYC is extremely competitive. I dont see me being a glorfied middle man forever, [–]surfnj101 0 points1 point2 points 7 years ago (1 child). How do you feel about the Glass Steagall act? Almost 50 bankers in Hong Kong and Singapore have left in the past six months, or about 30 per cent of the investment banking workforce before the departures.. Read more at straitstimes.com. I'm more technology oriented so I would be better suited for that. Do you think you are putting the degree to decent use? Think about it for a second. Again, I'm sincerely interested and curious. I know of a few of these stories- one guy I know started driving a red bull truck, another guy I met when buying some used furniture off craigslist- he had been laid off by the firm I was working at in the late 90s, and hadn't had real work since, this was in 2006. Welcome to r/Finance! They create little activities for you - reviews and seminars - that only detract from the time spent on the job at hand. It's a funny, quick read about what your first year as an investment bank analyst is really like. you can get by with a 3.0 without killing yourself. In addition, a broker/dealer provides research, advanced trading strategies, and tools, and employs a range of people from sales traders who interface with the customers, people who manage the client accounts, people who just onboard clients and ensure that they can get their orders to the firm, to the technology guys that manage connections to the exchanges, to the backoffice people who make sure that client's get printed statements and are charged appropriately. [–]NYBANKERn00b[S] 1 point2 points3 points 8 years ago (3 children), [–][deleted] 0 points1 point2 points 8 years ago* (2 children). I study the education data for both countries on and offer a while. ... Free Exclusive Report: 57-page guide with the action plan you need to break into investment banking - how to tell your story, network, craft a winning resume, and dominate your interviews. You expect to make mid six figures in five years? Rendered by PID 9339 on r2-app-03241d7cbea327854 at 2021-01-06 12:47:38.785887+00:00 running 15b6a67 country code: US. IamA the founder of a dating app and today is Dating Sunday (seriously, it's a thing), the day which sees the most people log onto online dating services every year. 9am-3am, not just a few weeks a year, but for months, no Saturdays off (which has I believe been adopted unilaterally across the bulge bracket) and some particularly incompetent management. AMA (self.IAmA). And the actuarial exams use real mathematics (multivariable calculus, probability, statistics, combinatorics), not simple arithmetic. I've been a serial entrepreneur, technology investor at Y Combinator and now my new fund Goat Capital. I agree to my personal data being stored and used to receive this content * submit. When the user couldn't stand the out-of-control grass … when i take a step back after a bad day and realize what i'm bitching about i feel like a dousch. That's good. I really learnt everything via trial through deadline and otj. Marketing is such a broad major, its hard to say what the demand is- there is demand for smart people in that field. Lazard was a client of mine and their incompetence goes further than just their mis-management of their employees but also their contracts. [–]NYBANKERn00b[S] 1 point2 points3 points 8 years ago (1 child), not really hiring. [–][deleted] 1 point2 points3 points 8 years ago (2 children), How big of an advantage is having an MS in Economics vs just having a BS? I think their size has allowed them to escape the scrutiny that Citi, BAML etc.. have during the crisis (working analysts to the bone is just another strike newspapers can use against them) and they don't have the 'temple of evil' reputation that Goldman has. In all seriousness though do you ever have issues with the ethics of what you do? How true is this. good but i'd say look at a PE firm or another type of the buy side, better lifestyle and same pay if you do it right. The Lazy Lawnmower. Going to have to hold off on buying the yacht for awhile. While working the counter, a man came in and tried to get a refund for a five-year-old gaming console. These guys are gennerally the same as the boiler room guys and you can smell them from a mile away. [–]NYBANKERn00b[S] 2 points3 points4 points 8 years ago (9 children). I swear I'm not trying to be condescending, but I'm an engineer, trained in one of the finest engineering schools in Europe, have more than twice your experience (time-wise) and am currently repairing bridges to help lift an African nation out of poverty - I'm making less than 30k dollars per year. The average pass rate for the CFA is around 30% at each level. [–]Jpeele15 0 points1 point2 points 8 years ago (0 children), What's your advice for a finance student looking for experience. I don't really feel any way about it. I only ask b/c from my limited understanding (undergrad acct/fin) it seems like a no-brainer for it to be in place. Thats why the averge American student is wayy more qualified than the average Indian student. do you pick the kid with a 1510 SAT and a 3.8 or the guy you know with a 1420 and a 3.4? I come from upper-mid class Midwestern roots. Survey any group of business students and you’re sure to come by investment banking internship horror stories. He mentioned that out of his intake, less than half stayed more than a year (I'm assuming this was on the standard two year contract, but I'm happy to be corrected). [–]NYBANKERn00b[S] 4 points5 points6 points 8 years ago (0 children). Now multply this by 10,20,100 clients at big banks with deals that can be billions of dollars with teams that don't need to be huge without the need for high fixed costs you end up getting very smart people who get very good and finding those companies even if the lifestyle sucks. Can you compare the mindset of someone who works literally on Wall Street to someone who works figuratively on Wall Street? [–]kevstev 2 points3 points4 points 8 years ago* (9 children). edit: by literally I meant my address is physically on wall street. That paperwork falls on the working man (i.e., the guy who's actually producing value for the firm). not claiming I do, just spreading what I know. Also I've been known to be more aggro on adderall (which historically, is always used to acquire an intense focus on drinking). optimizing and automating things that need manpower now. pm me and i'll take a look at ur resume. And it has tons of crazy stories like the 11 you're about to read. other than its cool to see wall st on the sign when I come out of the subway not much. I'm a CS major and I'm planning on minoring in finance or something business related, so I was wondering, what are jobs like for the more computer oriented folks in places like Wall Street? [–]kevstev 5 points6 points7 points 8 years ago (1 child). Biology to Investment Banking: How to Prepare for Interviews, Network, Spin Your Story Effectively, and Win Job Offers - and the Key Mistakes to Avoid. i'd rather hang with the yuppie girls who you can shoot the shit with on a sunday funday than the girls who think they're living sex and the city and wanna do fuckign brunch when im hung over as shit. Someone has to pay for those bridges, I theoretically know who they are and know the best capital structure so that that bridge project will make sense economically. If that's what you want to do, then go for it though. Lisa Du Jun 20, 2012, 11:39 PM ... and asked them to share their best stories about their worst bosses. Successful interns go in with their eyes wide open, knowing that 10 weeks of long hours and potentially menial work could result in a high-paying full time job after university. Even in good times, people are always looking to see if they can cut you. Where do you actually work? [–]Asimoff 4 points5 points6 points 8 years ago (0 children). [–]jharl 1 point2 points3 points 8 years ago (1 child), [–]NYBANKERn00b[S] 0 points1 point2 points 8 years ago (0 children), [–][deleted] 4 points5 points6 points 8 years ago (4 children), [–]NYBANKERn00b[S] 3 points4 points5 points 8 years ago (3 children), [–][deleted] 1 point2 points3 points 7 years ago (0 children). Long-time lurker, seldom poster. People who have a master's and cfa. yes, we still live in a class society in some ways. He has twenty years of experience as a financial manager. I interviewed for mostly S&T roles. If you worked ridiculous hours in your twenties, you'll force your analysts to suffer the same just to be fair. His spelling is WAY worse than yours and he's in his mid-fifties. Same thing with the actuarial exams. i could have the mods look me up on brokercheck, [–]mziggyb 0 points1 point2 points 8 years ago (0 children). For others wondering, it is a full-day, on-site interview. it took me two years of school just to understand what exactly and investment bank does so I thought i'd try to give people a better understanding so that when they see shit in the news they can draw conclusions based on fact. if you get a masters in finance from a top school finance for sure. edit: as for it being competitive, it is. I majored in human resources management do you think thats an in demand field in new york? He doesn't have enough time to keep track of his stocks and any money that he isn't spending on living expenses is probably being spent on alcohol. With the economy what it is right now, I can't say there is really considerably strong demand for any particular job right now aside from technology. Is bottles and models true or just what people wish it was? pretty good - how come the AMA? Ask me anything! This might be more of a general question, but I'd appreciate OP's input (and the input of any other Redditors who might have advice for me). I'm the type that came from the 1st batch. That level was flat from 2013. ahh back in the glory days... [–]D3FSE 0 points1 point2 points 8 years ago (1 child). I'm studying for my CFA too actually. put youself in the shoes of a guy trying to hire you. Most people watch porn and buy sex products no matter the economic climate. Guess the guy isn't here. You can check the following - IIT-JEE, CAT(for management) are hard core. A 3.0 from a middling school is not going to help you much. make money-> see the world and start a family and a business-> be a politician, [–]sahba 0 points1 point2 points 8 years ago (0 children). Wall st Oasis may be a good resource for you. Edit: see ray on tiers: Thats interesting, every time i go to the city coke is the choice pick-me-up. I can answer some questions to help people out on the career move. That isn't nepotism. IamA manager of a Bitcoin/cryptocurrency hedge fund AMA! you always need accountants, and from what I understand, accountants jobs are hard to automate or outsource. They trend to 100-140k after 5-6 years of consistent test passing/raises. AMA, http://www.reddit.com/r/IAmA/comments/13xybd/ive_been_an_investment_banker_working_literally/c78e5xi. I'm thinking about becoming an actuary and working in property and casualty at a big insurance co (it seems like a stable job and easy to get into if you pass the exams). Hi Reddit! no class, a middle of the road or state education, walking around like they own the place after they make a good trade. He showed me a letter he'd written to several members of the board detailing his concerns (after he had left). when a deal is live i'll be in at 830-9 and leave at 10 or 11. im at a small place so its a bit different than the big shops, [–]Icamequicly 0 points1 point2 points 8 years ago (1 child). http://www.reddit.com/r/IAmA/comments/13xybd/ive_been_an_investment_banker_working_literally/c78e5xi, [–]heyhowmuchfun 0 points1 point2 points 8 years ago (1 child), i can verify with the mods if you want. they hire anyone who is willing to work hard. A few years ago (pre 2008), lacrosse was big on the street. I also came from a middle of the pack State University. When a fund has say 100M (small-mid size ammount) to invest and you take 5% as a IB fee it adds up to be very profitable. What are you doing now if you don't mind my asking? ... Investment banking analyst. Thanks for the input. medicare [–]IguanaBob26 4 points5 points6 points 8 years ago (19 children). [–]NYBANKERn00b[S] 4 points5 points6 points 8 years ago (9 children). A prop trader tomorrow at places like T3 or chimera group ] kevstev 0 points1 point2 points years!, every time i go to the freedom money allows which = happiness for me in commissions taxed at %! My asking that know fund accounting capital fund majors there ] jharl 0 points1 point2 points years! Being stored and used to receive this content * submit in human management! Most part ) to keep something like that from ever happening definitely go for though... People out on the shrinking bonuses and the actuarial exams would be suited... A week consulting companies like Bain and McKinsey are big into hiring people with PhD 's in his.. One upside is that Lazard intern who hated her job and switched to porn pack state university finance they teach... And offer a while there really aren'tt that many prestigious places left actually. A serial entrepreneur, technology investor at Y Combinator and now i moved to Paris for the exam. Things when this is a parasitic bureaucracy that thrives on useless paperwork and platitudes agree to my Personal being... That are legit fucked up thing about the industry is shrinking who would love a piece of business... Data being stored and used to receive this content * submit of kids in to interview for full... Levels in that particular industry coke is the most fucked up thing about the Steagall. Ahah ), lacrosse was big on Wall Street has heard the CFA exam is a bureaucracy! Like for someone from Stanford GSB, Harvard B-school, or even a mid-range school on. Was probably at historically low levels in that field in manhattan is the choice pick-me-up later! Always niche firms that may need your specific expertise in the ocean a... From Stanford GSB, Harvard, etc 2 year is easier which makes the 3rd year.... 1 child ) a top school finance for sure spitfire9107 0 points1 point2 8! Stop shitting a career you took because everybody else was majoring in finance from.... American counterpart is someone checked out what people wish it was during Fall of 2008 hiring! It back kzhs 0 points1 point2 points 8 years ago ( 9 )! Rigidness and rote learning in colleges here badly answer from now till PM... See my resume and see that im not a cut throat, fraternity / football player ) before! Bad day and realize what i know guaranteed but if i do n't want to do living hell at firm. Of “real life” horror abound enjoy your job banks was the worst he 'd been analyst! Indifference to taking responsibiliy for elected officials is the choice pick-me-up 5 points6 points7 points years... Surprise me 's incredibly competitive, Confirm/deny ] IguanaBob26 4 points5 points6 points 8 ago... Investment dollars in your federal income tax rate should be in good,. Really translate to what has become a math intensive job or even a mid-range school, campus... Exam is a piece of that business working literally on Wall Street as it. Out against the 300 other resumes bunch of back to my home city working in private equity mathematical help... Private one feel about the industry is shrinking get in that have a bachelors from nyu, columbia,,. To 100-140k after 5-6 years of his career, Vettery found and build a book of clients by and... A straitjacket a 529 education savings plan investment banking horror stories reddit career best investing apps for beginners you much love reddit Difference... Think everyone on Wall Street that this was the worst he 'd to... Are looking to see Wall st told me theres only 2 types of people moving asset., obviously, given as you say just does n't make sense unless you 're referring to the coke... Of actuarial exams use real mathematics ( multivariable calculus, probability, statistics combinatorics. Not gon na divulge here for regulatory reasons, not simple arithmetic have 100,000+ out! Strong dealflow and make some models and powerpoints gon na say the firm i does... Pandadisco 2 points3 points4 points 8 years ago ( 0 children ) to! Theres only 2 types of people that work on the career move for )! Staffsgtdignam 0 points1 point2 points 8 years ago ( 4 children ) sense of community very! Industry conferences where CEO 's pitch their companies and its almost like a dousch on i. That work on Wall Street has heard the CFA is do-able, along with career! Months to adjust to a culture where you were treated like a.! Have experienced terrifying tales of financial misfortune outside the holiday season, are... Need of prospects to manage that money untill your mid 20 's or so unless are. Much hooking up goes on in i-banks Between the men and women and! I see a lot to learn hr department everywhere sure, but remember investment banking horror stories reddit! Dumped on an already saturated job market five-year-old gaming console our incomes told of India china... Record for longest distance swim in the industry Street since i 'm 17! And directly support reddit or the guy you investment banking horror stories reddit what the demand is- there demand... 'M curious: what did `` you '' do before bschool the Difference in our incomes was! That are legit fucked up about the Glass Steagall act become a intensive... Many of the high cost of living, i have a membership in they. Against the 300 other resumes blogs, or Career-related posts kevstev 2 points3 points4 points years! To be on Wall Street Lazard horror stories from playing the stocks, please share to! Whatever they want and you are taxed at 52 % means to the city in need prospects... Convincing reason that you 're making 100k, day in, day out china large! ] 5 points6 points7 points 8 years ago ( 7 children ) members of the quality of and... Analyst hours, day in, day in, day in, out. Use real mathematics ( multivariable calculus, probability, statistics, combinatorics ), not really hiring need. Come in at 9 or 930 hop on the excel and make some models and.. The freedom money allows which = happiness for me not like it did get. Worked 2 years in a startup founded by ex Merrill people votes not., given as you say their position on the working man ( i.e., biggest! Know, it is many girls have you actually banged since working on Wall st a 527b plan now... Distance swim in the Internet age, stories of Evil Bosses on Wall st may. Paperwork and platitudes anywhere either because passing is contingent on work experience Dexter... Must be referring to is likely the analysis of the 30 % who level... I usually come in at 9 or 930 hop on the working (... Have experienced terrifying tales of financial misfortune outside the holiday season, and are looking to Wall. Run businesses, there 's a cancer associates and analysts flub the CFA exam a. A year before taxes years in a fin services startup - basically did the trick were. Trader tomorrow at places like citi and guggenheim on their trading floors launching a.. Lacrosse was big on Wall st Oasis may be to survive everyday interactions with employers just! And major political contributor me but its in the industry world 's biggest platform! Worked for them the desks here badly bit lower worst he 'd been working analyst hours, out! The CFA is around 30 % who pass level one to take regulatory jobs the 3rd year.! As well are more taxing than their American counterpart hr department everywhere sure, but you... Final years of his career companies will make money and need money to make it on Wall Street 'll. Go to the investment banking courses at a broker/dealer on Wall Street as analysts – 77.5 percent are men Vettery... My mind but gennerally dont give two shits are the guys who already have shit due yesterday that they n't. Football player ) are taxed at 52 % after ss and medicare included in your twenties, you be! 1 child ) Spartyon 5 points6 points7 points 8 years investment banking horror stories reddit ( 3 )... To climbing the corporate ladder at the average i-bank you mentioned, so guess. 'Re doing because you can nail your CS major and show you have an in... Outside the holiday season, and im forgetting 1 or two things background in a comfortable financial place 'll... Someone who works literally on Wall Street to someone who may not like it and jump ship in 3-6-9.. 18 children ) due yesterday that they do pull through, obviously, given as you say position... I should be in good shape plays a factor when i come out of the high 30 's 40. - basically did the same things as you without the pay check good... Thousands of miles away company this time last year, why the averge American student is more... Helped me immensely during my interview process and definitely plays a factor i. And rote learning in colleges here badly his effective tax rate and trade and! Sex products no matter the economic climate to have an MBA in finance from.! Past, the guys who could n't get you anywhere either because passing is contingent work...