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I work in the City, ask me nothing watch

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    (Original post by universal_set)
    Yes it is basic knowledge & it is required
    You can confirm it from Dr Yves Nosbusch, I guess he sits on 3rd floor in Old Building. He specializes in financial risk analysis
    Probably shouldn't mess with Cutmeloose, he knows his stuff. Do you even work in banking? Or do you just spend time reading financial risk theory?
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    (Original post by Abdul-Karim)

    Networking

    How exactly did you network?
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    (Original post by thechemistress)
    How exactly did you network?
    I used my mouth?

    edit: In all seriousness, I applied for insight day events at various institutions, attended them, got developing relationships with analysts/VPs/SVPs, kept in touch, asked questions/advice, showed interest.. one thing led to another.
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    (Original post by Abdul-Karim)
    I'm a summer intern. Mon-Fri for the duration of the summer holiday.



    Networking



    Begs the question.. how did a retard like me get one?

    PS that post is *******s, people go in with less financial knowledge than the questions you've asked. I know at BAML, analysts get flown up to NY for finance classes/training session in the first week.
    I thought most banks have 6 week training programs for full time analysts, that true?

    Also, how much do you expect to learn from this internship? Will you learn enough to add value to the team?
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    (Original post by Abdul-Karim)
    I used my mouth?

    edit: In all seriousness, I applied for insight day events at various institutions, attended them, got developing relationships with analysts/VPs/SVPs, kept in touch, asked questions/advice, showed interest.. one thing led to another.
    Thanks I'm considering IB but I don't know where to even begin networking. My brother goes to Eton so a lot of his friend's parents work in IB. Wasn't sure if that would be a good place to start or not.
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    (Original post by thechemistress)
    Thanks I'm considering IB but I don't know where to even begin networking. My brother goes to Eton so a lot of his friend's parents work in IB. Wasn't sure if that would be a good place to start or not.
    Perfect, if you can get their contact info! Just ask for a small chat, I'm sure they'll be happy to speak to you.
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    (Original post by Princepieman)
    Perfect, if you can get their contact info! Just ask for a small chat, I'm sure they'll be happy to speak to you.
    Awesome I should be able to nab them off my mum xD
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    (Original post by Princepieman)
    I thought most banks have 6 week training programs for full time analysts, that true?

    Also, how much do you expect to learn from this internship? Will you learn enough to add value to the team?
    I don't know how long training is. I know there were grads who freshly held one year contracts in our induction session who just got sent to their department after an IT session and breakfast with their managers. They may have ongoing training. I know there are classes that are mandatory they have to take.

    I doubt it I'll add anymore value than a fresh grad who's come out with a 2:1 Maths Degree, but if I don't disappoint there's a very good chance of a return offer, I know one of the employees in the division started off this way. Hopefully I'm looking to just get more of a flavour of the practicality of working in the professional industries. I've already learned a lot so just building up on my knowledge of finance/assessment techniques and get a flavour of working life
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    [QUOTE=Cutmeloose;48500999]

    I have no doubt that OP is doing an internship, in fact I am happy for him because I like people when they are progressing in their fields. But certainly, he is very lucky because he has no prior elementary knowledge of risk and yet he's working in risk. I hate people when they claim/quote the technical/fancy terms like "fixed income securities" "options" "financial risk management" "asset pricing" "derivatives" etc whereas they don't know anything about them, and in reality they are doing some s*it jobs in IB.
    Financial risk internships at IBs require solid background in university level maths especially abstract probability so that he/she can assist his/her team by using basic hedge techniques and point out arbitrage in portfolio.
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    (Original post by thechemistress)
    Awesome I should be able to nab them off my mum xD
    Just make sure they know who you are..

    Usually I'd start a conversation like

    "Hey xxx, it's Abdul, do you remember we were speaking a couple days ago about xxxxx, I was wondering if you would be able to offer any advice on any material I could possibly read upon regarding what your role entails..."

    *These guys love speaking about what they do lol, believe me.."

    Then you can go on communicating via email.. and eventually something may develop.

    There are millions of different ways you can go about networking. We as students don't really have nothing to offer these employees so it makes it much more difficult but even the smallest advice is greatly beneficial.
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    (Original post by Abdul-Karim)
    Just make sure they know who you are..

    Usually I'd start a conversation like

    "Hey xxx, it's Abdul, do you remember we were speaking a couple days ago about xxxxx, I was wondering if you would be able to offer any advice on any material I could possibly read upon regarding what your role entails..."

    *These guys love speaking about what they do lol, believe me.."

    Then you can go on communicating via email.. and eventually something may develop.

    There are millions of different ways you can go about networking. We as students don't really have nothing to offer these employees so it makes it much more difficult but even the smallest advice is greatly beneficial.
    Seriously, thanks so much. I'm bookmarking this for future reference
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    [QUOTE=universal_set;48501532]Yes.

    [Quote] but it's not. /
    Yes, it is because I have worked as an IT technologist in IB thereforeI know the environment/procedure/patterns etc



    Was it for risk?

    I have done an internship in risk so it is definitely "yes".

    NOTE: I have no doubt that OP is doing an internship, in fact I am happy for him because I like people when they are progressing in their fields. But certainly, he is very lucky because he has no prior elementary knowledge of risk and yet he's working in risk. I hate people when they claim/quote the technical/fancy terms like "fixed income securities" "options" "financial risk management" "asset pricing" "derivatives" etc whereas they don't know anything about them, and in reality they are doing some s*it jobs in IB.
    Financial risk internships at IBs require solid background in university level maths especially abstract probability so that he/she can assist his/her team by using basic hedge techniques and point out arbitrage in portfolio.
    That's the type of jargon I'm being taught

    In short I'll give a brief description of what I know these to be:

    Fixed income securities: Things such as CDs & Bonds in which you pay a principal and receive a coupon for a fixed amount of time until maturity.

    Options: A risk management technique where you have the right to either utilise that option at a specified time for a premium.

    Financial Risk Management: The various Risk Management techniques such as hedging, options, futures which are used to offset the chance of financial losses.

    Asset pricing: Don't have a clue yet tbh

    Derivative: A financial instrument which derives its value from the underlying assets.

    I'm 18 so I don't nearly have the same credentials/academic capability as you :dontknow:. Got to start somewhere though.
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    [QUOTE=Abdul-Karim;48501738][QUOTE=universal_set;48501532]Yes.

    but it's not. /

    That's the type of jargon I'm being taught

    In short I'll give a brief description of what I know these to be:

    Fixed income securities: Things such as CDs & Bonds in which you pay a principal and receive a coupon for a fixed amount of time.

    Options: A risk management technique where you have the right to either utilise that option at a specified time for a premium.

    Financial Risk Management: The various Risk Management techniques such as hedging, options, futures which are used to offset the chance of financial losses.

    Asset pricing: Don't have a clue yet tbh

    Derivative: A financial instrument which derives its value from the underlying assets.
    Chill

    It is really good that you know the definitions My questions were about its practical usage.

    Edited note: I am unsubscribing this thread. So all the best in your future endeavours.
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    What's the best bar in the City?

    How **** is CW?

    Roughly how many times have you visited Inferno's?
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    (Original post by Le Nombre)
    What's the best bar in the City?

    How **** is CW?

    Roughly how many times have you visited Inferno's?
    I don't know, I don't drink.. usually just go and chill on the bench at lunch because I'm so tired and meals are like £17 in the kitchens. I have £13 balance on my debit card.

    I don't work in CW. I work in the Sq Mile, although I much prefer the atmosphere of CW.

    A grand total of 0 times :rolleyes:
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    (Original post by Abdul-Karim)
    I don't know, I don't drink.. usually just go and chill on the bench at lunch because I'm so tired and meals are like £17 in the kitchens. I have £13 balance on my debit card.

    I don't work in CW. I work in the Sq Mile, although I much prefer the atmosphere of CW.

    A grand total of 0 times :rolleyes:
    Ah sorry, didn't realise you were an intern. Surely you go to bars on intern socials? You don't have to drink to go for the networking, though they are generally in **** bars?

    Seriously?! The place is dead, most people I know would work in Birmingham about as soon as CW.

    You will on time, it's practically compulsory for young City boys, get down there in pastel coloured chinos and the white Ralph Lauren Oxford for full effect.

    Given you're at a French IB have you got a stint at the Defense at all? See the mothership.

    Favourite way to chill post work?

    How fed up are you of hearing about paleo/Cross Fit? Seems everyone on the City's on it now.
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    (Original post by Abdul-Karim)
    Work in assisting my team. I work in Risk, so we essentially look at trades and the risks attached to certain investments traders make.



    Investment & Risk Management Solutions
    Financing solutions (debt & equity)
    Advisory Services
    Asset Management services
    M&A
    Restructuring
    Market making (financial intermediary)

    An investment bank basically helps re-allocate funds from those who have excess funds (institutional investors etc..) to those who need funds (businesses who want to finance investment projects etc..). There's a lot more they do as well but the above gives you the jist of the various different business lines.



    Currently just learning more of the financial jargon and being taught to use the systems, as it's my 3rd day. I just work on trade monitoring atm.[/QUOTE]

    That sounds so awesome, might look into it more once I'm done with my law work experience

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    (Original post by Abdul-Karim)
    I used my mouth?

    edit: In all seriousness, I applied for insight day events at various institutions, attended them, got developing relationships with analysts/VPs/SVPs, kept in touch, asked questions/advice, showed interest.. one thing led to another.
    How do you get SVPs to talk to you, I don't doubt that you do it but do they make contact with you reguarly or do you have to initiate it.

    Also how were you so motivated at such a young age to do all that experience?
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    i still don't know what u kind of people do, I'm going to watch youtube tutorials to understand what investment banking is. is this a good idea?
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    (Original post by Le Nombre)
    Ah sorry, didn't realise you were an intern. Surely you go to bars on intern socials? You don't have to drink to go for the networking, though they are generally in **** bars?

    Seriously?! The place is dead, most people I know would work in Birmingham about as soon as CW.

    You will on time, it's practically compulsory for young City boys, get down there in pastel coloured chinos and the white Ralph Lauren Oxford for full effect.

    Given you're at a French IB have you got a stint at the Defense at all? See the mothership.

    Favourite way to chill post work?

    How fed up are you of hearing about paleo/Cross Fit? Seems everyone on the City's on it now.
    CW seems like a more professional environment with the high-rise glass buildings. It just seems so futuristic and clean in comparison to the gritty streets of London lol.

    Your terminology exceeds my understanding. One thing which is pretty annoying is that like 1/3 employees are french and they tend to communicate in french with each other and I haven't a clue what they're discussing.

    After work, I'm usually too tired to do anything so I go home and sleep to get ready for the next day. Hopefully in time I'll get used to it.

    Haven't heard about paleo or cross fit, until today. They mainly just discuss work and the world cup. We saw the passing of the tour de france yesterday from our office building though. I swear these guys left work for 30 minutes to camp at the windows and the bikes went past in about 7 seconds :lol:

    (Original post by noshahmad)
    Currently just learning more of the financial jargon and being taught to use the systems, as it's my 3rd day. I just work on trade monitoring atm.

    That sounds so awesome, might look into it more once I'm done with my law work experience

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    That's great. Certainly advise on doing so.. they love the girls. Diversity/Women inclusion and that.
 
 
 
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