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Taking questions about biglaw and investment banking/pe
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Date: July 2nd, 2008 9:15 AM Author: costumed dead athletic conference public bath and suggestions on how to make back the money I've lost in my 401k and investments. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9937909) |
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Date: July 2nd, 2008 9:53 AM Author: Henna principal's office incel Subject: break into IB after college I've worked for over a year at a second tier consulting company as a consultant, doing mostly data analysis and statistics. I've passed the CFA level 1 exam, how can I break into IBD after college? I was an engineering major from a top 3 overall public. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9937938) |
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Date: July 2nd, 2008 5:19 PM Author: Fuchsia business firm "how can I break into IBD after college?"
REtard. Nobody breaks into IBD AFTER college. You get a job FROM college into IBD (often alumni and/or on-campus recruiting). If you've already graduated, it's too late.
Investment banking groups recruit from top colleges and top MBA programs. Go back for your MBA like everyone else who fucked up. |
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Date: July 2nd, 2008 5:30 PM Author: confused excitant national security agency telephone lol (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939149) |
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Date: July 2nd, 2008 6:27 PM Author: Henna principal's office incel thanks for the absolutely sound advice. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939332) |
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Date: July 2nd, 2008 6:57 PM Author: costumed dead athletic conference public bath Market's not good now but I think this wasn't that uncommon, though you would be starting as a first year analyst.
Do you have any contacts with headhunters? |
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Date: July 2nd, 2008 4:03 PM Author: Nubile Home risk, baby. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9938906) |
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Date: July 2nd, 2008 5:28 PM Author: Fuchsia business firm STFU you old, old faggot who posts on xoxo. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939144) |
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Date: July 2nd, 2008 6:35 PM Author: Nubile Home u2! (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939347) |
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Date: July 2nd, 2008 7:00 PM Author: costumed dead athletic conference public bath eh. you think this is a good time to go long since it's so gloomy? (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939443) |
Date: July 2nd, 2008 3:17 PM Author: confused excitant national security agency telephone what are hours and exit options like for IB associates (say you work in consulting or something for a few years-->MBA-->banking-->then what?) similar to the options analysts have?
what were you invested in? |
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Date: July 2nd, 2008 5:30 PM Author: Fuchsia business firm exit opps are not as good for associates, at least as far as getting into PE (sometimes they can't even get into PE at all, simply because they are associates). i'm sure you can get into corp dev @ a f500, though. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939147) |
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Date: July 2nd, 2008 7:00 PM Author: costumed dead athletic conference public bath Yeah, PE, particularly big firms, has gotten pretty institutionalized - they'll take ibanking analysts, have them go to business school and take them back after school, so many of the available slots are filled that way.
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Date: July 3rd, 2008 11:26 PM Author: Fuchsia business firm I never understood why they prefer analysts. The argument that they don't need to be paid as well doesn't hold water for me, because there are plenty of people who would take a major, major salary cut if it meant getting solid PE fund experience on their resume.
Then someone mentioned that analysts are a little better at the modeling than associates. A lot of associates are bred to be "the next MDs" (even though, as we all know, their chances are slim) and aren't getting as quantitative an experience. |
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Date: July 4th, 2008 7:59 PM Author: costumed dead athletic conference public bath PE firms probably wouldn't really want people like the ones willing to take major salary cuts.
I think a good deal of the reason is that analysts are better at modeling. Additionally, the pe programs can be structured as 2 year gigs with a natural exit to business school with the intention that the ones who want a career in it will return after school. You can't really do that with ibanking associates or people already with MBAs who are more expecting a definite long term thing. |
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Date: July 2nd, 2008 7:01 PM Author: costumed dead athletic conference public bath I was just invested in standard equities mutual funds offered by my employer for the past 2 years and had a decent chunk of money in a few etfs and I would've done much better had I not participated and just put the money in a bank account. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939451) |
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Date: July 2nd, 2008 7:55 PM Author: confused excitant national security agency telephone did they match your contributions? if so it was probably worth it. either way you're relatively young as i recall so i guess you can bear the risk. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939664) |
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Date: July 2nd, 2008 8:02 PM Author: costumed dead athletic conference public bath nah, vast majority of biglaw firms don't match. also i would like to be able to stop working in a short time frame so it's not like I will be dollar cost averaging over 40 years (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939687) |
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Date: July 2nd, 2008 8:09 PM Author: confused excitant national security agency telephone what about those 60/40 stock/bond balanced funds? the growth won't be huge but at least you'll get a decent return and it's relatively low risk. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939718) |
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Date: July 2nd, 2008 10:03 PM Author: costumed dead athletic conference public bath yeah, i dont know, maybe should think about that. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940153) |
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Date: July 2nd, 2008 4:53 PM Author: khaki community account Subject: I'm confused. Were you in ib/biglaw/pe? Why are you taking questions about it? What happened to your 401? Bear Stearns employee? (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939054) |
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Date: July 2nd, 2008 5:30 PM Author: Fuchsia business firm He has never worked for a PE fund, he has never worked in IB, and he has never worked in biglaw. He is a fucking nobody. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939152) |
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Date: July 2nd, 2008 7:04 PM Author: costumed dead athletic conference public bath I work in biglaw. My partner is in pe. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939458) |
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Date: July 2nd, 2008 9:24 PM Author: green casino why didn't you take a cooler, cushier law job (with government/ngo/whatever) if your wife was already making buttloads (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9939968) |
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Date: July 2nd, 2008 10:02 PM Author: costumed dead athletic conference public bath Have no interest in government or ngo. Though am getting extremely interested in some sort of corporate inhouse job working 30 hours a week making like 80k - need to start looking harder for this.
Also biglaw can be a fairly cushy job in certain instances (particularly recessions) |
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Date: July 2nd, 2008 10:38 PM Author: chocolate theatre alpha Assuming you go to work for a firm that isn't going to lay you off:
Is this a good time to be an incoming corporate associate (perhaps more time for training? or more down time?) or a really bad time to be an incoming corporate associate?
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Date: July 3rd, 2008 8:57 AM Author: costumed dead athletic conference public bath It's probably a bad time to be an incoming corporate associate, particularly at weak firms (more chance of layoffs) or firms that have a minimum hours treshhold for bonuses (too much politicking to fight it out among your peers for the work that is available) in that sense. On the other hand, biglaw salaries are high and the probability is that you won't have much work and firms will think the economy will pick up in a year or 2 years so you won't be laid off.
Also, your superiors will probably be more likely to do a lot of work themselves so they can make their hours, so in many ways you will miss out on hands on training.
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Date: July 2nd, 2008 11:45 PM Author: Nubile Home cool (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940441) |
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Date: July 3rd, 2008 9:05 AM Author: costumed dead athletic conference public bath any suggestions for my second career? I think I will be transitioning in about 2 years when hopefully the economy is better. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9941435) |
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Date: July 2nd, 2008 11:44 PM Author: Concupiscible bipolar foreskin Does it make you sick that I've been in nothing but money markets and bonds for quite a few years and have out performed the vast majority of indexes and 401k's? (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940432) |
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Date: July 3rd, 2008 12:27 AM Author: confused excitant national security agency telephone seems dumb to invest as though you're in retirement when you're in your 20's (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940609) |
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Date: July 3rd, 2008 12:30 AM Author: Concupiscible bipolar foreskin I could probably be investing "smarter" right now, but I'm doing well at work (in addition to my savings), and I also own a condo, which is likely to pay dividends based on what similar properties are selling for at the moment. I'm not stupid enough to piss money away, and I'd rather be conservative than make risky investments in this market. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940620) |
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Date: July 3rd, 2008 1:14 AM Author: confused excitant national security agency telephone investing in a diverse group bond and equity index funds, even tilted very far towards a high equity allocation, wouldn't be stupid or risky assuming you have a long enough time horizon (till retirement or whatever). (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9940744) |
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Date: July 3rd, 2008 1:24 PM Author: nofapping idiot garrison good work, dude. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9941936) |
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Date: July 3rd, 2008 1:49 PM Author: Nubile Home If you similarly handled your personal relationships as well, you'd be set. (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9941969) |
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Date: July 3rd, 2008 8:53 AM Author: costumed dead athletic conference public bath Yeah you've done well. To be fair a large chunk of my assets have been in cash due to sheer laziness and fear.
How's your job? |
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Date: July 8th, 2008 11:49 AM Author: Nubile Home (http://www.autoadmit.com/thread.php?thread_id=831168&forum_id=1#9954229) |