Investment Banking Discussion Thread

[OmniscientCause]



Unfortunately, they filled their open positions in December. He said he personally thinks they're overstaffed by a few heads right now, but that's because they hired based on future workload. I told him I want to get my resume to a point where, if he received it, he'd want to interview me, so he's giving me tips on how to get it there. The GPA thing sounds like a pretty big killer, though.

If you dont get any interviews based on a low GPA its really unfortunate. The fluctuation of grade inflation that goes on in schools and certain programs is ridiculous and if your school/program doesnt do this consistently well then ur SOL.

 

[Khayembii Communique]



If you dont get any interviews based on a low GPA its really unfortunate. The fluctuation of grade inflation that goes on in schools and certain programs is ridiculous and if your school/program doesnt do this consistently well then ur SOL.

Well, I know my GPA sucks regardless of any of this. I think it's just going to come down to playing the numbers game, and hoping to hit it off with a hiring manager that doesn't care as much about GPA.

I'm going to be developing contacts at boutiques over the course of the year, I think, so that when hiring season comes around again I'll be prepared.

A founder of a small PE firm here said he'd consider having me intern at his shop if I'm still looking next summer.

 

[jslade]

Decided between offers and signed. It's been a long and grueling process, guys. Really glad to be done.

 

[crispeta]

Congrats, jslade.

 

[otc]



Decided between offers and signed. It's been a long and grueling process, guys. Really glad to be done.

lol, you thought *that* was long and grueling?

enjoy the next few years

 

[Pennglock]

Decided between offers and signed. It's been a long and grueling process, guys. Really glad to be done.

lol, you thought *that* was long and grueling?

enjoy the next few years

Ha ha ha.

 

[GreenFrog]

Congrats, jslade.

Don't be one of the kids who burns out 6 months in and quits

Do you know which industry group you'll be in?

 

[gomestar]

http://nymag.com/daily/intelligencer/2013/02/how-wall-st-interns-became-a-cottage-industry.html

 

[OmniscientCause]



http://nymag.com/daily/intelligencer/2013/02/how-wall-st-interns-became-a-cottage-industry.html

Good read...wish I knew all of this when I was a senior in high school.

 

[otc]



http://nymag.com/daily/intelligencer/2013/02/how-wall-st-interns-became-a-cottage-industry.html

"But that's banking. If you can handle the interviews, you can probably handle the job."

to which I say: "If you can't handle learning excel shortcuts without a $100 webcast or a $3000 course, you probably can't handle the job"

 

[otc]

Although honestly, how much of this is news?

I don't recall pre-crash there being such a plethora of people buying training classes and tutoring (or at least I certainly don't know anyone who took one and ended up working at a bank), but everything else was the same. Everybody read the vault guides, but none of this paying to learn the job (isn't that what the interns are supposed to learn during their summer???)

There already weren't any "accidental" bankers. The only people who got the interviews and the positions were the people who hung out with the other wannabe bankers and spent all their time at the career center going to events and practicing for interviews. Sure, there were some sociology majors, but it wasn't like they put out their cigarette, pulled on a suit and walked across the quad from the social science building to a bulge bracket info-session just out of curiosity. They knew what they were doing, had done the prep, worked the internships, and hung out with the bankers. They just happened to be interested in sociology (and everybody knows you won't actually use any knowledge from your Econ degree as an analyst at a bank).

 

[suited]



Although honestly, how much of this is news?

I don't recall pre-crash there being such a plethora of people buying training classes and tutoring (or at least I certainly don't know anyone who took one and ended up working at a bank), but everything else was the same. Everybody read the vault guides, but none of this paying to learn the job (isn't that what the interns are supposed to learn during their summer???)

Crash = make bankers notorious
Young people = we like notorious
Company = we sell you that
Company = get lots of money
Young people = most of us wasted our money

 

[Khayembii Communique]

I've talked to a MM hiring manager who said a guy got an interview because he had IBI on his resume.

 

[gomestar]

hell of a week for M&A markets

 

[shimshimhae]

finally done with summer analyst recruiting. will be going to a top middle market bank doing m&a.

the last month and a half or so was a living nightmare. good luck to everyone still in the process!