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  1. #61
    Bicep of Peace Aaronza's Avatar
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    Rate the 1987 Wall Street movie /10

    Also did you start slinging crack rock because you don't have a wicked jump shot?
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  2. #62
    Clean Fulking waatsgood's Avatar
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    Originally Posted by UFmark View Post
    Unlikely you can transition. You already blew it by getting an MBA from an unknown school -- that was your opportunity. Unrelated career -> Top MBA -> IBD Summer Associate -> FT IBD Associate offer
    Fuarkk kind of in the same boat minus all the nice certifications. Dun guf'd by majoring in criminal justice, but had a 3.9 GPA. Still have no related work experience(worked as a research assistant and interned with a top law enforcement organization, don't want to say here though, but nothing finance related), stayed in my same school (a tiny unknown school) to get my MBA with a finance concentration, I should be graduating next May. How can I make it? Perhaps I can pm you?
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  3. #63
    Registered User infinit's Avatar
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    Originally Posted by waatsgood View Post
    Fuarkk kind of in the same boat minus all the nice certifications. Dun guf'd by majoring in criminal justice, but had a 3.9 GPA. Still have no related work experience(worked as a research assistant and interned with a top law enforcement organization, don't want to say here though, but nothing finance related), stayed in my same school (a tiny unknown school) to get my MBA with a finance concentration, I should be graduating next May. How can I make it? Perhaps I can pm you?
    You are honestly pretty ****ed. Unless you know someone or can find someone that you can get on very good terms with at a reasonable level you are not going to make it.
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  4. #64
    Banned theRealGriNC's Avatar
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    80 hours a week working jesus lol I could never do anything like that...I'd hate myself...idc how much I made
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  5. #65
    Kate Mara Crew CEO namechange's Avatar
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    Originally Posted by waatsgood View Post
    Fuarkk kind of in the same boat minus all the nice certifications. Dun guf'd by majoring in criminal justice, but had a 3.9 GPA. Still have no related work experience(worked as a research assistant and interned with a top law enforcement organization, don't want to say here though, but nothing finance related), stayed in my same school (a tiny unknown school) to get my MBA with a finance concentration, I should be graduating next May. How can I make it? Perhaps I can pm you?
    Where and in what role are you interning this summer(feel free to be vague)? That is assuming you are in a FT program. Hopefully, it is finance related so you can attempt to parlay this experience for FT recruiting in the Fall. You are going to have to hit the ground running hard and start networking with any alumni from your school that are in banking towards the end of your summer -- basically letting them know that corporate finance at Amazon(or wherever you are at) isn't for you and why this experience led you to believe that banking is what you really want to do.

    I will be completely honest with you in that it is highly unlikely you will get some type of FT offer in investment banking coming from an unknown school and no summer associate role in IB.
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  6. #66
    Clean Fulking waatsgood's Avatar
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    Originally Posted by UFmark View Post
    Where and in what role are you interning this summer(feel free to be vague)? That is assuming you are in a FT program. Hopefully, it is finance related so you can attempt to parlay this experience for FT recruiting in the Fall. You are going to have to hit the ground running hard and start networking with any alumni from your school that are in banking towards the end of your summer -- basically letting them know that corporate finance at Amazon(or wherever you are at) isn't for you and why this experience led you to believe that banking is what you really want to do.

    I will be completely honest with you in that it is highly unlikely you will get some type of FT offer in investment banking coming from an unknown school and no summer associate role in IB.
    I wasn't even able to get an internship for the summer, only landed 2 interviews and wasn't selected for either.. So Im doing what I've bee doing for the past 7 years

    I work as a caddy so I'm trying to network hardcore, there's obviously a tricky line not to cross when asking members for help. I've been messaging alumni on Linkedin as well, but considering how tiny my school is, I can count on one hand the amount of ppl on Linkedin from my school who are in banking...
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  7. #67
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    70 hour work weeks OP? I'm assuming you are working for a boutique IB in DC?

    Also, did you get your 15k signing bonus out of school?
    Last edited by ImJustSaiyanBro; 05-31-2015 at 08:15 PM.
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  8. #68
    Registered User workhard9's Avatar
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    I start an IB internship tomorrow for a boutique bank. As you said, mostly M&A type deals. Any advice brah?

    Also, this f**cker said this about a year ago in an earlier thread when I said some of my career goals:

    Originally Posted by ForeverWin View Post
    inb4 claims investment banker

    Loool
    I was going to neg him after signing my offer for IB but decided victory was already sweet enough.
    Last edited by workhard9; 05-31-2015 at 08:25 PM.
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  9. #69
    Registered User HIIT's Avatar
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    I worked for a BB firm in equity research. You can find out more information on WSO, the information ITT is poverty.

    This thread is pretty deceptive in "lifting the lid" on IB. Most peoples' idea of it is correct and this thread only serves to muddy the truth by overcomplicating day to day life.

    It's an office job doing lots of boring work for long hours. And the comp is not that great - or not as great as you would think. I was on 50k - like 70-80 USD straight out of uni. But that was 8am-7pm hours with all nighters for a few nights once or twice a month. Mostly it's playing around with Excel and Powerpoint. It's tedious.

    The hours are not *that* long, but given you commute in and out...you pretty much have no life during the week, same as any other office job. Pretty much the same hours as law firms except law firms don't usually have all nighters unless you're in corporate. And law firms start at around 9am.

    Most people are equally as tedious as the work. No one normal and clever would stay for the long run, it's just meant to provide good exit options to other things. If you're so inclined, you can have a good career in finance, but most interesting people become entrepreneurs one way or another.

    You can make money in almost anything if you become good at it eventually - law and banking just pay a lot straight away, but going into another sector like media production, publishing or property, you could make the same money or more in time. When you're young, you don't have any commitments like children anyway.
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  10. #70
    Registered User POSTMAKER's Avatar
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    What role do M&A lawyers play in the deals you work on? Do they work insane hours too?
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  11. #71
    Registered User JtotheIzzo's Avatar
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    Originally Posted by HIIT View Post
    I worked for a BB firm in equity research. You can find out more information on WSO, the information ITT is poverty.

    This thread is pretty deceptive in "lifting the lid" on IB. Most peoples' idea of it is correct and this thread only serves to muddy the truth by overcomplicating day to day life.

    It's an office job doing lots of boring work for long hours. And the comp is not that great - or not as great as you would think. I was on 50k - like 70-80 USD straight out of uni. But that was 8am-7pm hours with all nighters for a few nights once or twice a month. Mostly it's playing around with Excel and Powerpoint. It's tedious.

    The hours are not *that* long, but given you commute in and out...you pretty much have no life during the week, same as any other office job. Pretty much the same hours as law firms except law firms don't usually have all nighters unless you're in corporate. And law firms start at around 9am.

    Most people are equally as tedious as the work. No one normal and clever would stay for the long run, it's just meant to provide good exit options to other things. If you're so inclined, you can have a good career in finance, but most interesting people become entrepreneurs one way or another.

    You can make money in almost anything if you become good at it eventually - law and banking just pay a lot straight away, but going into another sector like media production, publishing or property, you could make the same money or more in time. When you're young, you don't have any commitments like children anyway.

    What do you do now? Seems like you didn't really enjoy it that much. Why did you get into it in the first place?
    "You are all second sons. Bastard sons. With fathers who deny you your rightful estates. I offer you a chance to carve out your own fate. To damn your fathers to the past or to hell. Ride with me, my bastard army, to the only future allowed us." - Cesare Borgia from The Borgias
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  12. #72
    Registered User infinit's Avatar
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    Originally Posted by workhard9 View Post
    I start an IB internship tomorrow for a boutique bank. As you said, mostly M&A type deals. Any advice brah?
    Seem interested, ask questions, get around and talk to the entirety of the team, do the work to the best of your ability, if you get asked to any social events then go regardless of if you have other stuff planned, don't use your holiday time if you have any, dress smart but don't be the intern wearing a rolex and a $4,000 dollar suit.
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  13. #73
    Miscing from a BBGTerm. Whartonite2014's Avatar
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    BB Analyst who will be leaving before his two years is up checking in. Feelsgoodman.
    I am posting from my iPhone, please do not hold my grammar and spelling against me.

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  14. #74
    Registered User HIIT's Avatar
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    Originally Posted by Sebstan01 View Post
    How do you stay ambitious and not get comfortable? Or would you simply move on to different venues/challenges to increase your experience?

    Also, how many internships did you do whilst at university? Is there a specific number that will benefit you (re: experience but also, something to show for when you seek employment)?

    Thanks and best of luck.
    usually at least one long summer one. often get hired off the summer scheme. depends also where it is, e.g. GS internship is probably good enough for somewhere else esp slightly lower tier. also depends on the size/work/groups/divisions where you've interned vs those of where you're applying.
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  15. #75
    Registered User JLay87's Avatar
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    Originally Posted by JtotheIzzo View Post
    What do you do now? Seems like you didn't really enjoy it that much. Why did you get into it in the first place?
    IBD isn't something you go into because you enjoy it. Typically you can go to the buy side pretty easily. I work in PE which is better comp and hours, and more interesting work. A lot of people go IBD->PE because of it.
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  16. #76
    Registered User JLay87's Avatar
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    Originally Posted by Whartonite2014 View Post
    Lmao. I interviewed FT for KKR, Apollo, BX, audax group and silver lake. Failed all interviews and had to go back to BB IBD for FT. Crushed my heart and demoralized me for a bit. Realized PE wasn't what i really wanted to do and will be working at a HF really soon. Feels great to not have to endure two full years of banking.

    How large was the last fund you guys raised?
    We're not a closed fund shop, we're sort of uniquely structured. We do deals in the lower middle market (sub $10mm EBITDA). Megafunds will still have you work bankers hours and your comp won't even be that much better than going to another solid shop.
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  17. #77
    Registered User BAMF11's Avatar
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    Originally Posted by Whartonite2014 View Post
    BB Analyst who will be leaving before his two years is up checking in. Feelsgoodman.
    I remember you trolling the phuck out of everybody talking about how great IB and Wharton were a year ago..
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  18. #78
    TwinkMAXXing Azrairc's Avatar
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    Is a mutual fund much less likely to go belly up than normal stock.. they are comprised of many different stocks so would all of those companies have to close down to lose all your money?

    How do you desciple a high risk from a low risk mutual fund
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  19. #79
    Registered User BAMF11's Avatar
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    Originally Posted by Azrairc View Post
    Is a mutual fund much less likely to go belly up than normal stock.. they are comprised of many different stocks so would all of those companies have to close down to lose all your money?

    How do you desciple a high risk from a low risk mutual fund
    This isnt really and Investment Banking question. This is more of a wealth management / asset management / hedge fund question so OP would not be the best person to ask. But yes, Mutual Funds have lower risk with relation to a single security.
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  20. #80
    Miscing from a BBGTerm. Whartonite2014's Avatar
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    Originally Posted by BAMF11 View Post
    I remember you trolling the phuck out of everybody talking about how great IB and Stern were a year ago..
    What do you mean? Link me to a post where I said it was an amazing job? I've been doing IB since sophomore summer. I didn't go to Stern, so you might have me confused with another miscer?
    I am posting from my iPhone, please do not hold my grammar and spelling against me.

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    Originally Posted by Whartonite2014 View Post
    What do you mean? Link me to a post where I said it was an amazing job? I've been doing IB since sophomore summer. I don't go to Stern, so you might have me confused with another miscer?
    Sorry brah I got you confused with Sternie123 or whatever his name is. I remember him being red so I thought you got out of the red.
    Last edited by BAMF11; 05-31-2015 at 09:45 PM.
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    Originally Posted by BAMF11 View Post
    Sorry brah I got you confused with Sternie123 or whatever his name is. I remember him being red so I thought you got out of the red.
    No worries. If you would take the part out where you talk about my next job, that'd be cool.

    Originally Posted by JLay87 View Post
    We're not a closed fund shop, we're sort of uniquely structured. We do deals in the lower middle market (sub $10mm EBITDA). Megafunds will still have you work bankers hours and your comp won't even be that much better than going to another solid shop.
    That's interesting. Do you guys have a mandate to return capital to LPs? How do you monetize your investments? Just harvest the excess cash flow from portfolio companies and return it to the GPs and LPs every quarter?
    I am posting from my iPhone, please do not hold my grammar and spelling against me.

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  23. #83
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    Originally Posted by Whartonite2014 View Post
    That's interesting. Do you guys have a mandate to return capital to LPs? How do you monetize your investments? Just harvest the excess cash flow from portfolio companies and return it to the GPs and LPs every quarter?
    Our investors (not technically LP's as we operate through LLC's) are all HNW individuals. We invest in each deal on an individual basis so our investors can choose what to invest in and build their own individualized portfolio. We have no liquidity pressure because we pay down the debt and cash flow dividends to our investors. Then of course if we choose to sell they'll get a return on the sale. Our average holding period is like 5-15 years.
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    Miscing from a BBGTerm. Whartonite2014's Avatar
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    Originally Posted by JLay87 View Post
    Our investors (not technically LP's as we operate through LLC's) are all HNW individuals. We invest in each deal on an individual basis so our investors can choose what to invest in and build their own individualized portfolio. We have no liquidity pressure because we pay down the debt and cash flow dividends to our investors. Then of course if we choose to sell they'll get a return on the sale. Our average holding period is like 5-15 years.
    Yep. I'm semi-familiar with that model. Which city are you in? What's a typical day like? Not a lot of modeling, i presume? What do you pay for these businesses? 3-5x EBITDA?
    I am posting from my iPhone, please do not hold my grammar and spelling against me.

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    Originally Posted by blckndyllw View Post
    Does it rustle you that nobody knows exactly what you do but hate you for it?
    Nobody really "hates you for it" - typically people just ask what you do, if you're not a douche and they aren't in the industry, you just say "Finance" and typically they lose interest.
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    is it possible to get where you are with an accounting degree?

    im not sure if id like to do finance or accounting.

    also how hard was it to get ur foot into the industry with no job experience?
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    Originally Posted by Whartonite2014 View Post
    Yep. I'm semi-familiar with that model. Which city are you in? What's a typical day like? Not a lot of modeling, i presume? What do you pay for these businesses? 3-5x EBITDA?
    You're probably familiar with the pledge fund model, but that isn't exactly what we do, either. We're more akin to a group family office that only does LBO's, if that makes any sense. Unlike pledge funds, we don't really have any capital commitments from our investors, and we're going to the same investor network for every deal. We typically can raise the funds for a deal in a couple weeks without any problems, because we understand our investors' appetite to fund and also have some wealthier individuals who are very flexible with how much they fund.

    A typical day is, well, there isn't really a typical day. Since I've been here we did do one deal that I was working on a lot, but we just closed it. I'll go to the board meetings, prepare financials, work with the senior management on business issues, review CIM's, network, do administrative work, etc. I also manage a small internal debt fund that I helped them found. I always have something to do, but my bosses are extremely laid back and I don't work long hours at all. We typically pay 3-5x EBITDA but are also value investors so unless the sale situation is amenable to our niche (buying from owner-operators who want to pass the business on to a seasoned management team and want someone that will back them long term and provide greater opportunity for ownership) we aren't competitive on price.
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    Why are there so many a$$holes who work in investment banking? Granted it’s a highly stressful environment, in my experience trading floors are littered with these a$$ wipes
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