3rd year IBD Analyst - ask me any questions... :)

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Do you have any insight into how bad exit ops FIG guys really have? From WSO I have got the impression that it is worse in London for them than in NY.

Reply 81

Le Nombre

Original post by Law-Hopeful

Did they mention why you got rejected? As you're at LSE it's probably fair to assume you did well at A level/GCSE and isn't that pretty much all the criteria for first work experience?

The American firms pay US rates too (something like £100k NQ I think), but their intakes are significantly lower than other MC/SC London firms so they must me unbelievably competitive.

Sounds like you've got it all planned tbf. Re interships vs VSs the impression I get is that internships for IB carry more weight than vacation schemes for Law in terms of future jobs.

I'm in last year of A levels at the moment, will be reading Law at Cambridge next year if I get the grades. I've got some experience at a local solicitors and local magistrates court, will apply to as many SWs/insight days/weeks as possible if I can. What kind of books would you recommend I read? I'm currently reading 'The Money Machine' by Phillip Coggan and 'The Ascent of Money' by Niall Ferguson, mainly as introductions to the City just to get an introduction into the City/finance really.

They are competitive but the MC/SC offer other advantages so not necessarily way, way more, also the uber-candidates CV wise tend to be gunning for the commercial Bar and not being a solicitor.

Reply 82

Illiberal Liberal

Original post by Le Nombre

They are competitive but the MC/SC offer other advantages so not necessarily way, way more, also the uber-candidates CV wise tend to be gunning for the commercial Bar and not being a solicitor.

I was under the impression that most candidates (who apply to SC/MC type firms) also apply to US firms anyway just to have a punt at it, so I guess the numbers don't reflect the level of competition in that sense. Surely there will be just as many, if not more, uber-candidates applying for TCs than Tenancy (purely by considering that a greater proportion of law students go down the Solicitor route than the Barrister route)?

Reply 83

Guy Secretan

Original post by theibanker

Please see the first page for answers to all of the above. To note, I'm not going to be specific about where I studied, or earnings.

Well that kind of defeats the object of ask me anything doesn't it.

Reply 84

Commercial Paper

Original post by Guy Secretan

Well that kind of defeats the object of ask me anything doesn't it.

Haha, the guy did say "within reason" at the top of his post :tongue:

Reply 85

Cutmeloose

Original post by Guy Secretan

Well that kind of defeats the object of ask me anything doesn't it.

Knowing his year/course would make it possible to find him in a 5 minute Linkedin stalk.

Reply 86

Le Nombre

Original post by Law-Hopeful

Most will, but US is quite an acquired taste training wise and often people don't fancy both that or the quite narrow range of areas somewhere like Skadden or Lathams offers, plenty will turn down their TC for a MC one, friend at Skadden says they over offer, though obviously still very hard to get in.

Not really, the Bar seems to attract more of the very, very top academic candidates,, though it's a bit chicken and egg, do people bust their guts for the top First in the year then do the BCL/Harvard LLM because they know they'll need it for somewhere like Brick Court whilst it's not necessary to have that totally top end stuff for those wanting to go to Clearys or Slaughters or does the Bar attract more of the people who would do that anyway by its nature? Probably a mix.

(edited 10 years ago)

Reply 87

rubeno

Dear IBanker,

These are my questions:

1/What do you think about Real Estate in general? I heard it's a great asset right now...Does a MSc at a top school worth it?

2/Is it possible to move from M&A RE to other M&A industries? Same question for PE

3/Does M&A have Exit opp higher than LevFin?

Thank you!

(edited 10 years ago)

Reply 88

ttoby

Do you find there is a significant difference in people's personalities between different departments (within front, middle and back office) and what would you say are the main differences?

Reply 89

AnharM

Original post by theibanker

In the UK, including, but not limited to:

Oxford
Cambridge
LSE
UCL
Durham
Imperial
St Andrews
Warwick
Bath

Probably a few other names in the top 10-15

I have two offers. Two very different offers with two different courses...

UCL - BSc Natural Sciences (A*A)
University of Bristol - Economics and Mathematics (Unconditional Offer)

Which offer would you advise me to take, if I want to break into IB?

Reply 90

Paul Allen

Props to the OP.

Some of the questions although are very google-able and have been covered on M&I and other websites in greater detail. I always go to networking events and at least expect people to be somewhat diligent in their approach to the whole recruitment process.

Original post by rubeno

M&A falls under the product branch where as RE falls under sector coverage. Generally you expect the sector guys to do a lot of the origination and pitching whilst the M&A guys will come in for the execution. This however isn't that black and white. M&A groups are only so big so getting them on all the deals is impossible. At the same time, M&A guys also do some of the legwork - diligence lists - and other crap that does into the decks. People always aim for the M&A and LevFin group because of the modelling but in reality, you will get a decent amount of modelling experience in most groups. That is unless they stick you in one of those credit ratings groups or the groups that are essentially market desks on the other side of the chinese wall i.e. RSG.

The M&A vs LevFin has been covered to death and varies bank by bank. Some banks have M&A teams that only see the odd fly try to takeover the icing on their cinnamon bun. The point is it is very bank specific. It depends on your team's deal flow so in theory, as is the case with some of the banks out there, their FinSpon group will send more to the megafunds than other teams, including M&A and LevFin.

(edited 10 years ago)

Reply 91

Paul Allen

I forgot, my questions to the OP.

You mentioned you're responsibilities have changed in nature to being more managerial as you make the Analyst to Associate transition.

1) What will you do differently to some of the associates that you have worked under?

2) Is the 'managing associate' profile something you inevitably step into without realising it?

One of the guys last year made the jump to associate. We laughed when one analyst put is as "the night before he went to bed a mere mortal and woke up the next day feeling like Zeus".

Reply 92

MAINE.

Original post by polecon

Hi,

I want to go into IB in particular M&A, but my A-Level grades are letting me down from applying (less than 300 UCAS points) however I go to a top 15-20 uni in the UK.

Is there anything I can do which would 'cover up' my A-Levels? - Take professional exams?

Thanks

Pretty sure most Front Office roles require you have at least 320 UCAS points from your first try, and this is probably going to increase in light of the new A* grade.

Reply 93

16dan2life

Hi

1) Currently a first year Economics student at Uni of Manchester. I'm guessing Manchester isn't a major target uni? Is it wise to study a masters at LSE, UCL etc

2) Have I dampened my chances if I didn't apply to any springs week? Is it possible to still get in by applying to summer internships in my second and final year?

Thanks

Reply 94

JamesM96

Hey I'm a current A level student who's taking a gap year. I am going to apply to university in the gap year and I was wondering what specifically would be the best way to get work-experience etc. both for my UCAS personal statement, and for later on when applying to IB?

Thanks :smile:

Reply 95

sonle

Thanks for creating a very useful topic. This is my case. Im going to Durham uni for Master of Finance after completing double Bachelor degrees in my country, Vietnam. As a result, I couldnt attend any intership program. Assuming my result in the upcoming course would be very good and I expect to pass CFA level 2 by August 2015. Can you let me know whether my application to BBs would be considered as fair as local students that could secure me a place in online test or in first round interview? If not, I would be very appreciated if u give some advice for me to improve my chance.
Thank you!

(edited 10 years ago)

Reply 96

bobcattt

http://news.efinancialcareers.com/uk-en/151249/the-dartmouth-partners-2013-analyst-bonus-survey/

mean compensation 100k for 3rd year analyst. is it worth it?

Second year in sports betting, pulling 50k cash a year on top of my salary. Better hours and environment.

Reply 97

Lingli

Original post by theibanker

...within reason, I will try and answer as many as possible.

To give you some background to me (without revealing who I am):

•

3rd year Analyst at a top IB in London

•

M&A and DCM experience

•

Top 5 uni (undergrad in Economics and Masters in Finance)

•

Internships in Markets and IBD

I used to peruse the IB&C forum a while ago, without ever really contributing and feel now like I'm in a position to give real advice to students hoping to break into the industry.

If this thread is constructive, I'm also considering setting up a Skype account to help with any other questions.

Best,

IBer

Hi dear,

May I ask you a question? Could you please tell me that to what extent do you think I should be taking a master in quantitative finance at Manchester Business School to help secure a position in investment banks? Thank you!

Reply 98

gr8wizard10

Original post by Lingli

thread is a couple years old and the account is inactive. wouldn't expect a response, perhaps post on the is this university good enough for investment banking sub-forum

Reply 99

Lingli

Original post by gr8wizard10

thread is a couple years old and the account is inactive. wouldn't expect a response, perhaps post on the is this university good enough for investment banking sub-forum