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coffeetable posted:Well then, the next question is: are you any good at Honestly, You don't have to be good at any of these things to work in investment banking. Especially on the m&a side.
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Feb 22, 2017 20:36
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I think he's trying to steer him into an actual quant role instead of sellside advisory with that series of questions. The hardest part there is going to be getting in the door but an MBA doesn't help with those shops either
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Feb 22, 2017 20:38
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^^ Yeah the follow up to that follow up was gonna be 'well an MBA ain't gonna help'mike- posted:Honestly, You don't have to be good at any of these things to work in investment banking. Especially on the m&a side. You're right, pardon me. I read 'quant-focused' as meaning 'I want to be a quant', but she might not have meant it that way.
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Feb 22, 2017 20:38
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The best way to get real quant work is to have a PHD or have been an IB analyst with a math or CS degree. You either jump in after you graduate or when you are 24 and too good at math to stay at your bank. There are actually a ton of paths but these are the main ways I have seen
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Feb 22, 2017 20:45
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Sorry for the confusion - I don't expect an MBA to help me get a quant role - I wanted to know sort of sell-side advisory roles are available to fresh MBA-graduate associates and what are the key differences between them.
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Feb 22, 2017 21:00
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S&T don't IB associate, its fine. See what banks recruit from your school and in what numbers. Then see where associates exit to and if those jobs seem good to you. Or see if the VPs like their jobs. As an associate it's going to be almost impossible to lateral to the buyside so you are looking at IB for at least enough years to bring deals to the table or exiting to Corp Dev.
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Feb 22, 2017 21:06
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Time posted:As an associate it's going to be almost impossible to lateral to the buyside so you are looking at IB for at least enough years to bring deals to the table or exiting to Corp Dev. This is patently untrue. I know at least six associates who have done this--and by "know" I mean they're either good friends or people I worked closely with. I guarantee if I started Googling people from around the bank at least half of the names I remember will be on buyside "Team" pages. Yeah, lateraling into a top-tier PE fund isn't likely since they tend to be a little more structured with recruiting, but pretty much everyone besides the Blackstones and KKRs of the world is going to be interested in banking associates with a solid modelling skillset and the ability to think critically1. poo poo, a PE fund poached an entire vertical from my group, two Associates, a VP and an MD all at once, and several other VPs (and at least one other MD) I worked with also made similar moves. I know a couple other guys who went from being IB associates to hedge funds, including some of the big names--for example Och Ziff, back when it was, y'know, solvent.2 Part of that is probably attributable to me having been at J.P. Goldman Stanley, but I have a guy working for me now who was previously an associate at a middle-market M&A boutique I'd never heard of. It's a pretty hardcore buyside role, similar to a PE shop but for a holding company with several private, public and co-investment subs.3 Bottom line: most MBA associates are loving awful and tend to take longer to ramp than analysts, but several of the smartest guys and best modelers I've worked with came from B-school. You're really visible to the buyside dealteams you work with on transactions so if you're a badass, I guarantee they'll take notice. You just need to substitute demonstrating competency and a little gladhanding for the formal post-analyst recruiting cycle. 1 Yes, I realize the irony of this statement. 2 Funny story: back in my analyst days I interviewed with the natural resources PE fund within OZ--basically the American office of the London-based group at the center of the FCPA violations. Final round > no offer > was sad > dodged the 'unindicted co-conspirator' bullet > am glad 3 Hey, does that sound kinda fun? Are you 1-2 years into a decent banking / consulting program, or maybe at fund that's winding down? At ease modelling both complex industrial companies and structured investment / capital-return transactions? Comfortable being the primary presenter in front of CEO / CFO level audiences? If this sounds like you, keep an eye on GoBuyside next week  We'll give anyone qualified at least a phone screen--I don't step in until later in the process, so try and avoid the urge to ask your interviewer if THEY HAVE STAIRS IN THEIR HOUSE.4 This thread needs more loving footnotes. Even if they're busted.
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Apr 29, 2017 15:52
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Agree with this. A lot of this career track anxiety is overblown amongst entry levels. Lateralling is difficult regardless of your field, especially when you get paid significantly more as you move up the ladder. But if you are bad rear end at your job and very persistent , generally it will work out
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May 8, 2017 16:09
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tolerabletariff posted:This is patently untrue. I know at least six associates who have done this--and by "know" I mean they're either good friends or people I worked closely with. I guarantee if I started Googling people from around the bank at least half of the names I remember will be on buyside "Team" pages. Yeah, lateraling into a top-tier PE fund isn't likely since they tend to be a little more structured with recruiting, but pretty much everyone besides the Blackstones and KKRs of the world is going to be interested in banking associates with a solid modelling skillset and the ability to think critically1. poo poo, a PE fund poached an entire vertical from my group, two Associates, a VP and an MD all at once, and several other VPs (and at least one other MD) I worked with also made similar moves. I know a couple other guys who went from being IB associates to hedge funds, including some of the big names--for example Och Ziff, back when it was, y'know, solvent.2 One of elementary school (lmao) classmates went from a literal 2nd year (well closer to 3 but who's counting) analyst at Goldman to KKR Probably partly attributable to our country not being as competitive as UK or US yet enough of a financial center to have both Goldman and KKR though
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May 8, 2017 16:50
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I'm a broker at a big discount brokerage and I really hate it a lot. I thought it would be a good stepping stone to maybe working at a boutique financial services company but I'm worried my current job won't be as good as I thought for making the move. I need to get out of this glorified call center, what're my best options VVV bachelor's in economics and plenty of work experience but in the mortgage industry. Been in my current position for under a year Gay Horney fucked around with this message at 17:58 on May 11, 2017 |
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May 11, 2017 17:29
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Gay Horney posted:I'm a broker at a big discount brokerage and I really hate it a lot. I thought it would be a good stepping stone to maybe working at a boutique financial services company but I'm worried my current job won't be as good as I thought for making the move. I need to get out of this glorified call center, what're my best options what's your education
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May 11, 2017 17:52
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LUBE UP YOUR BUTT posted:One of elementary school (lmao) classmates went from a literal 2nd year (well closer to 3 but who's counting) analyst at Goldman to KKR Yeah, that's how it works usually. My post was about Associates (i.e. MBA-level bankers). I would say being a broker, especially at the entry level for a big brokerage where you're mostly handling calls that don't really fall into the category of investment advice, isn't necessarily a great lead-in to high finance (banking, buyside, etc). The only time I ever spoke to brokers at Wells is when I had a limit order on ARCP that executed, in some bizarre coincidence, on the day their ticker changed to VER--like $4,000 in cash disappeared without a trade posting or the stocks showing up in my portfolio  .Your mortgage background is probably going to be more relevant, can you be more specific? I know a fair amount about various RE and RE-linked buyside shops so could probably tell you what area of the industry you'd have the best "in" to.
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Jun 4, 2017 20:28
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