Ask an Analyst (US Bulge Bracket Bank)

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I have a question you might not be certain on, but may have some insight, so I will ask away!

I've got the opportunity to move into a BB in London at the VP level in OPs (I know, I know, not the glory of front office - but that's not my background). I'm coming from outside the finance sector, but the role is bang on my skillset, and I'm finding it particularly difficult to find out much about the working life at a BB in OPs - would you have any insight on this for someone based in London? I am obviously not of the assumption, it's a 9-5, but it would be good to get an idea of the quality of people in OPs, is much of the work farmed out to consultancies or kept in house. I'd be moving in from consultancy, so I'm hoping a bit less travel?

Haven't much experience in ops but the middle office folks we had were around from 9-6.30/7 latest. Didn't ever see them travel. Seems to be a much better balance

Reply 41

OPSthrowaway

Original post by jimkeen

Haven't much experience in ops but the middle office folks we had were around from 9-6.30/7 latest. Didn't ever see them travel. Seems to be a much better balance

Thanks, standard day for the past few years has been 8/8:30 til anywhere from 6-9/10pm, so that would be an absolutely fine day. Quite looking forward to the opportunity (and the salary increase and "actual" bonus as well if I'm honest).

Reply 42

Imperion

Anything you can possibly do to differentiate yourself considering the competition is enormous? Any advice for a 16 year old? :laugh:

Reply 43

fnatic NateDestiel

Original post by jimkeen

Haven't much experience in ops but the middle office folks we had were around from 9-6.30/7 latest. Didn't ever see them travel. Seems to be a much better balance

What were your SAT scores?

Reply 44

username738914

Back with some more Qs:

What's the team dynamic like? As in, do you regularly touch base with MDs/VPs? What's the level of banter/camaraderie between the analysts?

What would be your top tips for converting an SA?

Are the long hours spent mostly 'switched on' or is there liberty to take breaks every now and then?

You touched on 'smartness', can you tell the distinction between someone who went to say 'Oxbridge' vs to a standard semi-target? Are the varying levels of 'smartness' in the team?

If you could go back to university, what would you get involved in to maximise your chance of breaking into the city?

Where do you see yourself in 5-10 years? In PE?

Thanks for this!

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Reply 45

jimkeen

Original post by Imperion

Anything you can possibly do to differentiate yourself considering the competition is enormous? Any advice for a 16 year old? :laugh:

Enjoy life while you can :smile:

More seriously, look out for insight days typically for A level students, read up on the markets and finance, get some financial related work experience. Obvs do well in exams

Reply 46

jimkeen

Original post by fnatic NateDestiel

What were your SAT scores?

No SAT. Straight A/A* thru GCSE and A level

Reply 47

fnatic NateDestiel

Original post by jimkeen

No SAT. Straight A/A* thru GCSE and A level

did you go to oxbridge?

Reply 48

Imperion

Original post by jimkeen

Enjoy life while you can :smile:

More seriously, look out for insight days typically for A level students, read up on the markets and finance, get some financial related work experience. Obvs do well in exams

That sounded like threat lmao :rofl:

Can't really do insight days as I'm overseas xD But thanks for the rest :yep:

Silly question but how 'comfortable' are people in IBD? How chilled are they in other words? :tongue:

Reply 49

winchester21

Thanks for this thread!

What do you think is the difference in culture between European and American BB in IBD? So many HR people emphasize that but none comes up with a good answer... Did you sometimes think about whether it would be better to work for a European investment bank? If not why?

Also, what do you think will be the trends for investment banks going forward? European vs American and Pure Play (GS, MS) vs commercial BB?

Regards!

Reply 50

360master

How much cocaine do you have to take on a weekly basis? I am asking so that I can start practicing now by taking small doses to wean myself to it

Reply 51

Jeena_hunt5476

Original post by 360master

How much cocaine do you have to take on a weekly basis? I am asking so that I can start practicing now by taking small doses to wean myself to it

If you're gonna ask a question ask a nice one. He's being kind enough to answer them so show some appreciation

Posted from TSR Mobile

Reply 52

econam

Is it possible to maintain a healthy lifestyle? Do you have time to go to the gym or run?

Reply 53

jimkeen

Original post by 360master

How much cocaine do you have to take on a weekly basis? I am asking so that I can start practicing now by taking small doses to wean myself to it

Never seen anyone doing the white stuff in IBD. Think it's more prevalent in markets if anywhere, caffeine is a more common drug.

Reply 54

jimkeen

Original post by Jeena_hunt5476

If you're gonna ask a question ask a nice one. He's being kind enough to answer them so show some appreciation

Posted from TSR Mobile

I did say there was nothing off limits...

Reply 55

jimkeen

Original post by econam

Is it possible to maintain a healthy lifestyle? Do you have time to go to the gym or run?

Some do it religiously. Reality is that you can make time a few evenings a week. That said, with free food available, it's easy to get into a dangerous routine of gym - takeaway - home

Reply 56

jimkeen

Original post by winchester21

Having only worked for a U.S. Bank I can't really speak to European institutions other than anecdotally. European banks hours are just as bad, I think culture can be better or worse and is very team dependent. Overall I think US is more cut throat and aggressive in style, European style tends to be less aggressive.

Deal wise, global banks tend to have the upper hand for global M&A. That said pure European deals are ridiculously competitive, I suspect there will be a few European banks that either diversify away from IB (like CS, UBS). Others will either have to accept lower returns by using their balance sheet and lending more or maybe consolidate with a few other players.

Reply 57

jimkeen

Original post by Imperion

That sounded like threat lmao :rofl:

Can't really do insight days as I'm overseas xD But thanks for the rest :yep:

Silly question but how 'comfortable' are people in IBD? How chilled are they in other words? :tongue:

People are extremely driven, but most are still cool to go and grab a beer with after work. There is a certain commaradarie to slaving away together than forms a bond

Reply 58

username193837

Which uni did you study ? is it easy to transfer between offices in another country?

Reply 59

jimkeen

Original post by Princepieman

Back with some more Qs:

What's the team dynamic like? As in, do you regularly touch base with MDs/VPs? What's the level of banter/camaraderie between the analysts?

Work directly with VPs, occasionally MDs. Good banter with fellow juniors, united by our misery....

Original post by Princepieman

What would be your top tips for converting an SA?

Network lots, don't be aggressive or arrogant. Treat it like a 10 week interview. Find out which people will fight for you come the roundtable discussions

Original post by Princepieman

Are the long hours spent mostly 'switched on' or is there liberty to take breaks every now and then?

Sometimes you just can't switch off, it is part of how you get used to the lack of sleep you are just driven by the next deadline and don't stop. In fact it is when you stop that you realise how exhausted you are. You will have quiet spells amongst the ridiculously busy times.

Original post by Princepieman

You touched on 'smartness', can you tell the distinction between someone who went to say 'Oxbridge' vs to a standard semi-target? Are the varying levels of 'smartness' in the team?

Absolutely zero difference between Unis, no one has any time for that after the recruitment cycle. All that matters is performance. Definitely varying levels of smartness, the scale goes from scarily intelligent to alarmingly dumb...sometimes you question how people got the grades. Some of the worst bankers I have ever worked with are Oxbridge, some of the best are from '2nd tier' Unis, but there is no overall correlation.

Original post by Princepieman

If you could go back to university, what would you get involved in to maximise your chance of breaking into the city?