Not to be an ass but it will be hard for you to even get an interview. But if you get it, yes, you will start as an analyst.
Not to be an ass but it will be hard for you to even get an interview. But if you get it, yes, you will start as an analyst.
He has a chance...he has a PhD in comp sci and i think google or yahoo on his resume...actually he'd be better off doing quant.
Ok well I am just curious, why? I am only 22 by the way (will be 23 in january) and will probably get my MBA in 2008 (European). So I guess investment banks don't like anybody but fresh grads? What if someone internal refers me?
It means that an MBA from a top business school is part of the path to becoming an investment banker who makes millions of dollars a year; My original statement that caused such an uproar.
It's more that they are pompous jerks and see Cornell on the resume and laugh let alone non-Ivy grad. Maybe a 3.9 GPA will help you stand out. Also sub top 10 MBAs are generally dismissed. Please note I am being overly general.
I'm still interested in an MBA down the line. I have a PhD from a top-15 school in comp sci. Even with that, a career as a software engineer / scientist tops out at around $150K/year unless one gets into high-executive territory. If I can be fairly certain I can land a good investment-banking job ($$$), I'd be willing to invest 2-3 years in B-school if that's needed.
Heh damn.
How about LSE? Its in Europe so I don't know how they compare those to their American counterparts?
James3shin
Diamond Member
- Apr 5, 2004
- 4,426
- 0
- 76
iversonyin
Diamond Member
- Aug 12, 2004
- 3,303
- 0
- 76
Goldman Sach did a gigantic deal this year with China Construction Bank. That added much of the earnings to its bottom line this quarter. Trading profit should be healthy as usual. + all the M&A deals. Its not hard to guess that Goldman would beat its earning.
All other investment banks should follow. BSC, LEH, MS, MER
All other investment banks should follow. BSC, LEH, MS, MER
IHateMyJob2004
Lifer
- Sep 29, 2004
- 18,656
- 68
- 91
Time for the gov to step in. Exec salaries have gone up way to much the past 10 years.
Exec/employe salary ratios are up.
exec/earning rations are up.
And up alot. I think the exec/earnings ration has doubled in 10 years.
MInd boggling.
Exec/employe salary ratios are up.
exec/earning rations are up.
And up alot. I think the exec/earnings ration has doubled in 10 years.
MInd boggling.
iversonyin
Diamond Member
- Aug 12, 2004
- 3,303
- 0
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Originally posted by: halik
Very true,
my VP told me a story how he sat next to some taciturn quant guy for year and half, only to find out that he makes ~20 a year. Apparently the guy came up with a really good model for timing ficc orders. You never know
holy shvt...
Nerva
Platinum Member
- Jul 26, 2005
- 2,784
- 0
- 0
i am a first year analyst in the m&a group of a middle market bank, it's almost 12:00am and i am about to go home. i am thanking the stars because an exit before 2-3am is considered as a blessing, the next best thing would be winning the lottery.
if you want to get into the industry, you have to be sure which ibanks you want.
Bulge Bracket -high salary, high bonus, you got the good reputation, less responsibilities and less quality work
Middle Market and Boutique - comparable salary, bonus usually is comparable with the street, smaller deal teams mean more responsibilities for analysts. but unless you are evercore, thomas weisel, greenhill, jefferies or some other famous middle market/boutiques, you got no name and no reputation.
in case you have not noticed, reputation is extremely important in the industry.
within banking, there are different industry groups and product groups. tmt, healthcare, etc are industry groups. m&a (fairness opinion, recap, lbo, etc) is a product group.
michael lewis' liar's poker has nothing to do with investment banking, it's strictly sales and trading, no deal making at all (today sales and trading usually falls under capital markets).
monkey business is a good indication of what the industry is like 5-6 years ago. today, chances are you dont get yelled at as badly (i still do), but it's still a tough job. but be prepared to be overworked and not have a life. ~90+ work week is the norm. if you are bulge bracket, 100+ is almost definite (though not that big of a difference).
i actually love my work under those circumstances. so it really takes a special mentality for someone to do this. i know credit suisse lost 2 first year analysts after 2 months, should tell you something about how the job fits some people.
Nerva
Platinum Member
- Jul 26, 2005
- 2,784
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are you serious? m&a is on an all time high right now... at least a months ago when i had to come up with a chart to show the m&a trend post 2002.
and oh yeah, banking is all about charts, figures, fonts, formats, phone calls, bs-ing, etc etc
and you will find that banking is almost like a fraternity, once you get your foot in, you are in for life.
as for liar's poker, memorable sections/lines are:
equities in dallas
fvck the fvcking bond math, show us the jungle.
mbs traders getting phones with extra long cords to increase range when they throw it at trainees... man that one cracked me up.
sorry about the rant, my coherent mind was lost 6 horus ago.
Ignore JS80, clearly he has no idea what he's talking about.
http://www.canadianbusiness.com/markets...ine_news/article.jsp?content=D8LUNI581
http://www.canadianbusiness.com/markets...ine_news/article.jsp?content=D8LUNI581
is cramer recommending gs because he gets his pension from them? always the same i have it in my action alertplus yada
I just finished a two year stint at GS as an analyst. Most of the information in this thread is pretty accurate; if you want to get a job as an analyst at GS here is what you need:
>3.5 GPA (3.6 preferred) from top undergrad institution (i.e. Harvard, Princeton, Yale, Wharton, Columbia, Stanford, MIT, Northwestern, UChicago, Amherst, Williams; Duke/Dartmouth/Cornell are stretches)
Outstanding communication skills
Working knowledge of finance (major does not play a role at all in the process, but you should at least know enough to show you are interested in the job and not the money)
Evidence of active/enthusiastic role on campus
Knowing somebody in the industry helps A LOT
You need the GPA and school recognition to get an interview, but it doesn't matter too much after the first round. However, you WILL be given a hard time if you manage to get an interview with a GPA lower than 3.5, so be prepared with an explanation. Right now I'm earning a PhD in history at Yale and do not anticipate returning to IB (obviously); two years was more than enough for me.
>3.5 GPA (3.6 preferred) from top undergrad institution (i.e. Harvard, Princeton, Yale, Wharton, Columbia, Stanford, MIT, Northwestern, UChicago, Amherst, Williams; Duke/Dartmouth/Cornell are stretches)
Outstanding communication skills
Working knowledge of finance (major does not play a role at all in the process, but you should at least know enough to show you are interested in the job and not the money)
Evidence of active/enthusiastic role on campus
Knowing somebody in the industry helps A LOT
You need the GPA and school recognition to get an interview, but it doesn't matter too much after the first round. However, you WILL be given a hard time if you manage to get an interview with a GPA lower than 3.5, so be prepared with an explanation. Right now I'm earning a PhD in history at Yale and do not anticipate returning to IB (obviously); two years was more than enough for me.
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