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Does the fact that you spend the majority of your life sitting at your desk make you feel you are a tiny little cog of a gigantic barbaric corporate institution to the extent that you've now become a slave to the corrupt financial/monetary system we reside in? Has this thought ever plagued your mind and if so why or if not why not?
Original post by ChefInBlackTie
That being said most people simply have no idea how to network properly
That being said most people simply have no idea how to network properly
Great point. How should a person that wants to go into Investment Banking network properly? Is it just like making a new friend, and asking them what their interests and motivation are in the finance industry as well other hobbies they might have? Or should we just talk to them about their specific sector only?
Plus, how does networking help you get into IB? If you're in someones good books, which could take aaages, because it takes a long time to trust a person properly, do you then ask for a recommendation/reference to help you get interviews and ultimately, the job itself?
Original post by Pulse.
Do you and your team play darts with midgets?
Only on Tuesdays
Original post by hellodave5
At what earning threshold do you suggest investing money? Do you have any preferred investment method? :P
Being so busy, and perhaps indefinitely so, are you happy? I know people in similar positions, and they report that they find it too much.
Being so busy, and perhaps indefinitely so, are you happy? I know people in similar positions, and they report that they find it too much.
Under the current budget, effective June 2014 your annual ISA allowance hits £15,000 and I recommend you take advantage of this to the extent possible regardless of how much money you make. It's a remarkable little tool that allows tax-free investment returns and continues to accrue through your entire working life, have a look into it there's plenty of publicly available information on the subject
I find it difficult to invest in individual equities for compliance reasons (insider trading rules mostly) so I invest the bulk of my savings in a series of funds across various asset classes that generate above-inflation returns but certainly nothing remarkable
Happiness is subjective. You are busy but you are busy doing things that most people will never get to see in their lives, building exposure to people and information that helps you learn and develop as a person. Sometimes it's pretty ****. Sometimes you'll want to throttle someone. But nobody ever held a gun to my (or anyone's) head and said we had to be investment bankers, we aren't paid to complain so we get on with it and create results
Original post by Ex Death
Does the fact that you spend the majority of your life sitting at your desk make you feel you are a tiny little cog of a gigantic barbaric corporate institution to the extent that you've now become a slave to the corrupt financial/monetary system we reside in? Has this thought ever plagued your mind and if so why or if not why not?
Yes. I often cry myself to sleep at night. On a giant pile of money
Original post by AnharM
Great point. How should a person that wants to go into Investment Banking network properly? Is it just like making a new friend, and asking them what their interests and motivation are in the finance industry as well other hobbies they might have? Or should we just talk to them about their specific sector only?
Plus, how does networking help you get into IB? If you're in someones good books, which could take aaages, because it takes a long time to trust a person properly, do you then ask for a recommendation/reference to help you get interviews and ultimately, the job itself?
Plus, how does networking help you get into IB? If you're in someones good books, which could take aaages, because it takes a long time to trust a person properly, do you then ask for a recommendation/reference to help you get interviews and ultimately, the job itself?
Before we get into technicalities and logistics it's important to build a proper approach:
1. You should see networking (and more generally, meeting people) as a continuous process through your entire career, not a one-stop shop that gets you a job and then fizzles out. It's about meeting new people and hearing new ideas and regardless of your job that will always be beneficial
2. With that in mind your overriding mindset needs to be "meet interesting people and see what happens". Don't try to impress them or go into "interview mode", try to understand who they are as people and more importantly take an objective view as to whether or not you can get along with them
3. Be selective. I appreciate as a young person with few contacts you will often try a carpet-bombing approach and get as many business cards as possible, but you very quickly realise that if some cocky upstart is being a dickhead to you, you need to drop his sorry ass because he's never going to do anything to help you
4. Practice and volume. Networking is a life skill that you will only get better at. Invariably things won't go always right even if you play your cards perfectly so the more people you approach the better, even if you don't convert
An interesting trend I notice amongst the people I coach is a divide between the networking styles of men and women. Men usually source new contacts more aggressively but have far worse % conversions, I suspect due to being more mentally prepared for approaching and the inevitable rejections. Women are usually more reserved and shy when it comes to mining for new contacts, but once they secure the meeting are generally better at converting because they're typically less needy and have more intuitive communication skills
To answer your second question, I networked my way into this job - no, not through family connections and yes, it took a very long time
Original post by AnharM
Also, will studying Natural Sciences at UCL reduce my chances of getting into Investment Banking? Or does the course not matter?
It doesn't matter
Original post by ChefInBlackTie
To answer your second question, I networked my way into this job - no, not through family connections and yes, it took a very long time
It doesn't matter
To answer your second question, I networked my way into this job - no, not through family connections and yes, it took a very long time
It doesn't matter
Great. Thanks for answering my questions.
Original post by S&T1
I think it's great that you have taken the time to do this and help people out! I tried to do something similar and people just complained about it!
This is the only point I would disagree with, Spring Weeks can be quite valuable as people can be fast-tracked from them if they stand out. It's a direct route to the internship.
This is the only point I would disagree with, Spring Weeks can be quite valuable as people can be fast-tracked from them if they stand out. It's a direct route to the internship.
But if you aren't fast tracked from one, are they really that important?
How old are you, and how long did it take you to be successful at your job?
Original post by natninja
But if you aren't fast tracked from one, are they really that important?
If you don't get fast-tracked then I would say that they are not that important at all. You are not really going to learn anything in 5 days.
Apart from me being fast-tracked after mine, I would say that the most valuable insight I got from it was how the bank was structured in general and the interconnection between the various divisions, but you can read that online anyway.
Original post by S&T1
If you don't get fast-tracked then I would say that they are not that important at all. You are not really going to learn anything in 5 days.
Apart from me being fast-tracked after mine, I would say that the most valuable insight I got from it was how the bank was structured in general and the interconnection between the various divisions, but you can read that online anyway.
Apart from me being fast-tracked after mine, I would say that the most valuable insight I got from it was how the bank was structured in general and the interconnection between the various divisions, but you can read that online anyway.
A brilliant, it's just that I basically didn't apply for many spring weeks as that was my impression on the process and as a result didn't get one - especially as I applied late for them, for various reasons.
Ok, thank you very much for that
Do you have to go down the conventional Economics/Maths/Science route or would other degrees be looked on favourably? Is there anywhere you can suitable banking skills without doing these degrees?
Original post by ChefInBlackTie
Only on Tuesdays
Under the current budget, effective June 2014 your annual ISA allowance hits £15,000 and I recommend you take advantage of this to the extent possible regardless of how much money you make. It's a remarkable little tool that allows tax-free investment returns and continues to accrue through your entire working life, have a look into it there's plenty of publicly available information on the subject
Under the current budget, effective June 2014 your annual ISA allowance hits £15,000 and I recommend you take advantage of this to the extent possible regardless of how much money you make. It's a remarkable little tool that allows tax-free investment returns and continues to accrue through your entire working life, have a look into it there's plenty of publicly available information on the subject
Thanks, great advice. First thing I set up when I start earning this year (only lowly wages as health care assistant for medic experience, but yeah).
How are you finding the copious amounts of cash? :P Significant change in lifestyle since starting with the firm?
Original post by ChefInBlackTie
I get cold-called by uni students at least once a month asking various questions on banking so figured I would go straight to the target demographic with some old fashioned Q&A
In summary: M&A advisory, joined as an analyst in 2011, London uni graduate, work in the City
Fire away
In summary: M&A advisory, joined as an analyst in 2011, London uni graduate, work in the City
Fire away
Can you get me a job brah?
Ill buy you a thank you drink
Original post by PsychadelicScarf
How old are you, and how long did it take you to be successful at your job?
I'm twenty four. I'd say it takes a year to find your feet and from there you learn how to play the game, but it varies from person to person
Original post by bertstare
How prevalent are drugs in the IB scene?
Not very. You get the odd cokehead and I've only ever stumbled on it once in three years, but you won't find it unless you go looking for it (and some do)
Original post by Alludeen1
Do you have to go down the conventional Economics/Maths/Science route or would other degrees be looked on favourably? Is there anywhere you can suitable banking skills without doing these degrees?
You won't get suitable banking skills in any degree. Do something you want to do and that isn't a complete ****show, you'll be fine
Original post by hellodave5
Thanks, great advice. First thing I set up when I start earning this year (only lowly wages as health care assistant for medic experience, but yeah).
How are you finding the copious amounts of cash? :P Significant change in lifestyle since starting with the firm?
How are you finding the copious amounts of cash? :P Significant change in lifestyle since starting with the firm?
It does change your life in more ways than buying expensive trash and eating in overpriced restaurants. I was broke all through university and now I can travel anywhere I want whenever I want, visit any gallery or exhibition, take classes, entertain people etc. your life experience expands significantly faster than it would on a tight budget
That being said a lot of people blow their dough on £500 bottles of Krug and other pointless bling but it's their choice
Original post by cherrytomato7
Can you get me a job brah?
Ill buy you a thank you drink
Ill buy you a thank you drink
No
(edited 10 years ago)
Original post by ChefInBlackTie
It does change your life in more ways than buying expensive trash and eating in overpriced restaurants. I was broke all through university and now I can travel anywhere I want whenever I want, visit any gallery or exhibition, take classes, entertain people etc. your life experience expands significantly faster than it would on a tight budget
That being said a lot of people blow their dough on £500 bottles of Krug and other pointless bling but it's their choice
No
It does change your life in more ways than buying expensive trash and eating in overpriced restaurants. I was broke all through university and now I can travel anywhere I want whenever I want, visit any gallery or exhibition, take classes, entertain people etc. your life experience expands significantly faster than it would on a tight budget
That being said a lot of people blow their dough on £500 bottles of Krug and other pointless bling but it's their choice
No
Don't forget to be a good rich person and give to charity etc.
I bet its great not having to worry about money, as you do as a student.
London money in banking... bet its quite nice :P done very well for yourself getting such a position with them being so competitive... I'm sure you deserve it!
Who in their right mind would buy crap like that? haha... if I had billions, id still rather... not blow £500 on a bottle. I imagine some would go a little crazy though lol
how does it feel to have sold your soul for a salary?
How did you get in? Do you know people?
Original post by hellodave5
Who in their right mind would buy crap like that? haha... if I had billions, id still rather... not blow £500 on a bottle. I imagine some would go a little crazy though lol
The average junior banker has a large disposable income and no social skills - ergo, debauchery is the easiest way to compensate
Original post by Brian Butterfield
how does it feel to have sold your soul for a salary?
It feels like eating Marmite out of a jar
Original post by sbj
How many mathematicians work where you are at? And in general?
One or two in the team maybe. Generally not many, presumably they end up doing some cleverer job
Original post by clh_hilary
How did you get in? Do you know people?
Sort of. I didn't know anyone to start with but my job search involved picking up the phone and calling people until somebody gave in to my annoying pitch and decided to talk to me. Somehow I got an interview from that and later, a job
Original post by Foo.mp3
Can we have our money back please? 
Sorry, I've already spent it all on expensive school fees for my yet-unborn children in order to further perpetuate the social isolation of my bloodline
Original post by ChefInBlackTie
Sort of. I didn't know anyone to start with but my job search involved picking up the phone and calling people until somebody gave in to my annoying pitch and decided to talk to me. Somehow I got an interview from that and later, a job
Sort of. I didn't know anyone to start with but my job search involved picking up the phone and calling people until somebody gave in to my annoying pitch and decided to talk to me. Somehow I got an interview from that and later, a job
I've heard of that approach before as well.
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