Turn on thread page Beta
    • Thread Starter
    Offline

    0
    ReputationRep:
    A mate of mine attends Aberdeen, he is studying Economics. Now I am well aware that top IBs only recruit from the unis at the top and even then you're not gaurenteed a place. This guy however has got into merill lynch in his second year as a "Junior Securities Analyst" and now going into fourth year has a job interview lined up at Goldman Sachs in NY in some grad position.

    I don't think he is a 1st classer either, he has had resits, so I beg to ask the question, how is he getting these opportunities?...all I know that his father is an english diplomat. Can you get in purely with connections?
    Offline

    0
    ReputationRep:
    i would say a considerable amount of the 'old boys' network does exist in most firms and so yes, connections can get you very far

    GS job in NY, good on him if he managed it without connections though, and from Aberdeen (no ofence) - he's needs to write a tell all secret book for future potential applicants haha
    Offline

    14
    ReputationRep:
    maybe someone high up at ML liked him and when lots of GS execs went over to ML the divine benefactor pulled some strings and *poof* your mate got an interview.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Inter-Company)
    i would say a considerable amount of the 'old boys' network does exist in most firms and so yes, connections can get you very far

    GS job in NY, good on him if he managed it without connections though, and from Aberdeen (no ofence) - he's needs to write a tell all secret book for future potential applicants haha
    Seriously that sucks, given that everyone else has to work hard to get into IBing.l
    Offline

    14
    ReputationRep:
    (Original post by fat_hobbit)
    Seriously that sucks, given that everyone else has to work hard to get into IBing.l
    not always. i know a few people who got into IB by bending over clutching their ankles and clenching their teeth! so, in effect, they didn't actually had to do anything
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by uthinkilltellu)
    not always. i know a few people who got into IB by bending over clutching their ankles and clenching their teeth! so, in effect, they didn't actually had to do anything
    Doing what exactly?
    Offline

    0
    ReputationRep:
    After reading whats been written already my story may really annoy some people so Im sorry if it does, but thought you might want to hear it.

    At my uni, Portsmouth (a former polytechnic) we do 12 month internships as part of the third year for four year courses. I know IB's have offered graduate positions to numerous students at Pompey. Anyway, one of my best mates got an internship at a large IB. He's struggling on his course, just scrapping passes and no i dont mean pass as in just getting a 2:1, I mean just bout getting 40%. To be fair he has had a hard upbringing and had a lot of outside problems that no doubt affected his grades. He got through the first stage, I reckon because he knew someone there and he had done brief work experience there when he was 14. He ended up getting the job after going through all the assessment days and interviews, because they said even though his grades were poor at uni, they saw something in him. They said his results on the psychometric were far superior to others, and they felt if he properly applied himself his ability and potential was superior to others already achieving good grades.

    Im guessing the IB is taking a punt on him, but if he does well he's been told he can achieve a graduate position at the end.
    Offline

    2
    ReputationRep:
    (Original post by iamthe_eggman)
    After reading whats been written already my story may really annoy some people so Im sorry if it does, but thought you might want to hear it.

    At my uni, Portsmouth (a former polytechnic) we do 12 month internships as part of the third year for four year courses. I know IB's have offered graduate positions to numerous students at Pompey. Anyway, one of my best mates got an internship at a large IB. He's struggling on his course, just scrapping passes and no i dont mean pass as in just getting a 2:1, I mean just bout getting 40%. To be fair he has had a hard upbringing and had a lot of outside problems that no doubt affected his grades. He got through the first stage, I reckon because he knew someone there and he had done brief work experience there when he was 14. He ended up getting the job after going through all the assessment days and interviews, because they said even though his grades were poor at uni, they saw something in him. They said his results on the psychometric were far superior to others, and they felt if he properly applied himself his ability and potential was superior to others already achieving good grades.

    Im guessing the IB is taking a punt on him, but if he does well he's been told he can achieve a graduate position at the end.
    How against the odds all of these examples really are depends on what division these people got the offers in. If it was front office, then they must have either done something special, or known someone special (or maybe even done someone special).
    Offline

    14
    ReputationRep:
    (Original post by SevenDeuceOff)
    How against the odds all of these examples really are depends on what division these people got the offers in. If it was front office, then they must have either done something special, or known someone special (or maybe even done someone special).
    Lol
    Offline

    0
    ReputationRep:
    Well you lot probably know more about what departments are harder to get into than others. I think he's been told the job is flexible so he may move around depending on departments are in more demand at the time. At the moment he's been assigned to 'Operations' if that helps!?!
    Offline

    0
    ReputationRep:
    well no wonder, operations isn't a division which is particularly hard to get into
    Offline

    0
    ReputationRep:
    lol oh right ok. what does operations do then? sorry, that probably sounds really stupid to you guys cos im sure you know loads about IBs. Ive never really looked into them in much detailed, as im going into accountancy instead
    Offline

    1
    ReputationRep:
    Ops is in the back office section, as far as I know it deals with the paper work generated by front office. Wiki Ops:

    Operations involves data-checking trades that have been conducted, ensuring that they are not erroneous, and transacting the required transfers. While some believe it provides the greatest job security with the bleakest career prospects of the divisions within an investment bank, many have outsourced operations. It is however a critical part of the bank that involves managing the financial information of the bank and ensures efficient capital markets through the financial reporting function.

    In most cases it's checking data created by front office. When I did some work experience in ops a few years back we were generating reports for fund managers. So the work is varied, but not particularly brain stimulating.
    Offline

    0
    ReputationRep:
    (Original post by uthinkilltellu)
    i know a few people who got into IB by bending over clutching their ankles and clenching their teeth!
    You know people who got into IB by offering anal sex?
    You're joking?
    :confused:
    Offline

    14
    ReputationRep:
    (Original post by stadev)
    You know people who got into IB by offering anal sex?
    You're joking?
    :confused:
    well, ofcourse i'm joking. :rolleyes:

    although mind you, just because the monkey sees no evil, doesn't mean its not happening.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by uthinkilltellu)
    well, ofcourse i'm joking. :rolleyes:

    although mind you, just because the monkey sees no evil, doesn't mean its not happening.
    haha
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by stadev)
    You know people who got into IB by offering anal sex?
    You're joking?
    :confused:
    Though, whos to say that it was a man?
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by rich_#123)
    Imagine a hospital, the bankers and traders are the doctors and surgeons, Operations+technology are the nurses. Except in I-banking a huge amount of the 'nurses' aspire to be the doctors and surgeons, but hardly any make it.
    Is it a well paid position?...whats the average salary p/a one is expected to earn in operations.
    Offline

    0
    ReputationRep:
    about £33k-£35k p/a with (i think) a £2k bonus

    in regards to golden handshakes however, i have no idea whether this applies to Operations
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Inter-Company)
    about £33k-£35k p/a with (i think) a £2k bonus

    in regards to golden handshakes however, i have no idea whether this applies to Operations
    Not bad.
 
 
 
Poll
Black Friday: Yay or Nay?
Useful resources

Articles:

Guide to investment bankingGuide to consultancy

Featured recruiter profiles:

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

Quick link:

Unanswered investment banking and consultancy threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.