Over on the Ask Us Anything section we’re starting to see the same questions come up. This post is going to address why the advice won’t change and how we can save time together.
1) How Do I improve my Diet? We have covered diet advice in a post. If you haven’t taken a look then go ahead and read the post. If you’re slogging 80 hours a week you need to be efficient and as we stated before, if you don’t want to read the post, here’s the basic outline:
Breakfast: Fruit + Protein. Worst case a protein shake in the AM and a banana/fruit bowl on your way to work
Lunch: If you have a high paying job, lunch is used to improve your political positioning so you always eat with people so suck up the $10-12 meals
Dinner: You can get $25+ from your company, do not waste it on unhealthy food. Most people will eat terribly which starts the downward spiral. There are hundreds of options online using seamless. If you don’t have to work late… then make your meal at home after your day is done.
By doing this you guarantee 2/3 of your main meals are healthy. Lunch may be hit or miss, but if you’re smart all 3 will be perfectly fine and you won’t break the bank.
2) What Bank do I Join? Again this question misses the point by a country mile. The question is, which bank will allow me to get promoted the fastest. If you have no idea which bank then go by the rule of thumb
Elite Boutique (Moelis, Qatalyst, Centerview, Evercore, Lazard, etc.)
Bulge Bracket (Goldman, Morgan Stanley, Citi, etc.)
Middle Market (Jefferies, Piper Jaffray, etc.)
No-Name Banks (simply make sure it is the same job function)
No, we will not get into a back and forth about “what exactly is E-Boutique versus not” it is up to you to make that decision but if you’ve done your due diligence the answer will be extremely obvious. If they pay above top bonuses at a bulge bracket… it’s an E-boutique. If it pays the same as a BB… it’s probably smarter to choose the BB.
After your very first job none of this matters at all anymore. From that point forward you choose the firm that is going to promote you the fastest. Think smart. It is about responsibility not prestige.
“F*** prestige get money”
Put that quote on your cubicle. People who obsess over prestige have never had a long career on Wall Street. Maximum of maybe 5 years. To put the nail in the coffin check out one of two blogs we recommend (we only recommend Danger and Play and Financial Samurai). Click on FS’s blog… notice something? He started at a top shop but his real money came in after getting promoted and generating a ton of revenue. **hint hint**
3) When Should I Work Out? Well do you even work out? If you’re under 30 years old and you don’t work out 6 days a week you’ve already lost in the first place. If you have been working out 6 days a week, you probably already have a healthy routine! See how that works? So the question is not when you should work out it is if you even work out in the first place. We got this question many times and the answer when pushed is exactly the same.
If you work on the East Coast you go to the gym first thing in the morning. If you work on the West Coast you go to the gym after work.
You can feel free to change this if you’re a morning person or a night owl but it really misses the point. The point is this:
“There is no science, there is simply consistency.”
Consistency is how you keep yourself honest. If you can make it to the gym every single day and lift correctly, you’re going to see gains.
4) What Do You Think About the Stock Market Levels? Always the same answer, do not care at all. You should not care if the S&P is at 1,700 or 2,000… simply dollar cost average into cheap ETFs such as VOO, SPY etc.
If you’re trying to beat the stock market and you only have a half million dollars or so in the bank, you’re wasting your time. $500K in the bank to invest is pretty much a waste of effort. It means if you beat the bench mark by call it 5% that is only $25K. You may as well go and chase real revenue in a business. $25K for 10+hours a week is only $48/hour… That is significantly worse than what you’re making on the job anyway.
If the economy collapses? It doesn’t matter again. Generally recessions last about a year so you simply sit around and take the extra cash that was on the sidelines and buy any time there is a large correction. Your cash was on the sidelines because you want to continue buying through the dips so you get lower entry prices. Maybe you lost your job for a few months. No big deal. You had cash on the side to keep buying and get your next position.
If the market goes up 20%? Great already exposed getting richer!
What if inflation goes “crazy”? Again already own assets… getting richer! Only poor people think inflation is a bad thing.
5) I Make $50K and I am X Years Old What Do I Do? Some tough love and inspiration at the same time. First why in the world did you do this to yourself? If you look around there is money everywhere. A weekend in a high cost city driving an Uber will net you $30+ an hour. That is an extremely low estimate and yet that gets you an extra $60K per year. Why is it an *extra* 60K per year? Well, if you’re not working at least 80 hours per week and you’re broke, you have no one to blame but yourself. Anyone who believes they should be rich working 40 hours a week is going to be in for a rude awakening.
If you attempt to come back with the “but i’m smart” argument, you’re going to get laughter on this side of the web. Why? If you were actually *smart but lazy* you wouldn’t be broke in the first place right? It is much smarter to control what you can control. Go ahead and start slogging those long hours because at some point everyone pays their dues.
Finally, to put the nail in the coffin on this one… If you believe that anything over 40 hours is “too much work” then how exactly are you going to catch up to someone better than you putting in more time? If Person A is working 60 hours a week making $100K per year and you’re working 40 hours a week making $50K… You’re already making significantly less than Person A on an “hourly basis” and there is no way you’re going to catch up by working less and learning less.
Get to the grind!
6) Does Money Attract Women? Yes. Anyone who says otherwise has never made a good amount of money. Here is a general guideline since the question is asked so frequently:
$50K or less: it will be a negative to your sex life because you are not making enough
$50K – $100K: in a regular city this will be perfectly fine, in a major city it is still a detriment to your sex life
$100K-$175K: in a regular city you’re doing well, in a major city it now has no negative or positive impacts to your sex life
$175-$250K: Positive impact to your sex life in practically every city
$250-500K: Significant positive, less because of your life but because of the value of your time. At this point you’re extremely busy, you’re traveling, you’re not available, these are traits that will make you incredibly attractive. It won’t be possible to fake these trips/traits.
$500K+: It is practically impossible to blow through this type of money with common sense and everything in the previous tier are truer.
$1M+: If you can make this income at any point in your life you’re set. Your life changes because all of your actions value your time and comfort. You fly business/first class and do not care. You live a life that is impossible to fake.
Given the range and scope of this blog, it is certainly possible to get to $250-500K (before mid 30′s of course). This is achievable for anyone who wants it. When you start pushing up on high 6 figures and 7 figure numbers, you’re going to have to do something special.
Finally, there is no need to bother asking people like us. You can check out James Altucher’s blog, a multi-millionaire, who comes to the same conclusion… money gets girls.
(Caveat: before all the guys who live on shoestring budgets come in, yes you still need some social skills. That is about it though. If you don’t have some sort of social disease you’re going to be perfectly fine if you ever obtain large amounts of money)
7) Can You Hire Me? No
8) Are You Writing a Book? Maybe, not enough page views as of today. Creating a book that will take a long amount of time. It is certainly not worth it for a 5 figure payoff.
9) Industry Overview on XXX Sector? Probably, these are for Wall Street folk and the blog is currently a ~50/50 split it seems. This means it’s likely but no promises.
10) Resume Reviews? Nope! Hate them.
11) Can You Redesign the Blog? 100% agree needs to be re-done, no time-table yet though.
2) I am XX years old What do i Do to break in? We also get this one far too many times here’s the general guideline. Unless you have something spectacular you are holding back, this is the backdrop.
Analyst: If you are 25 years old or younger, keep gunning for an entry level slot as an analyst. This means you pass CFA level 1 if you have absolutely no finance experience to prove you understand the basics and then you get straight to networking. If you’re at a non-target then read our post on how to network/recruit. Now if you are from a no name school, no work experience and low GPA. You have next to no shot and are better off going to get an MBA later in life. This is the truth. As a non-target or older candidate with no experience, you need to have something to bring to the table otherwise you will lose time and time again to 22 year old candidates with banking internships, top GPAs and a great school.
Associate: If you are 26-33 years old this is your second chance to break in. If you have nothing related to finance, probably best to get an MBA.
Vice President and Above: Likely 33+ years old and you’re making a switch from a revenue generating career. In this case you should already know if you’re well qualified. Generally speaking, if you’re in a sales role or run a product line at a firm and are paid $300K+… You’re likely a good fit (this is general as most people who are in this slot know if they have the skills to move to the sell-side or not)
There you have it, it will answer 99% of questions. If you’re young you simply network and spin your resume assuming you have some skills that are transferable. If you’re in your late 20s you’re likely better off with a top MBA.
Do you think it’s a bad idea that once you have invested 80 grand on vanguard index funds to pull everything out? will you lose the whole amount to taxes? are index funds liquid? and is investing in the stock market gambling?
1) If it is in a personal trading account and is held for a year the tax rate is 15%. If it is less than 1 year it is your taxable income rate.
2) If it is a retirement account then you pay an additional penalty
3) Feel free to do what you will with your money, taking money out of a retirement account in general is a bad idea though, taxing yourself extra for early with-drawl defeats the purpose.
4) Yes ETFs are liquid.
5) We have answered stock market questions too many times, see the FAQ.In short, No.
if a recruiter gets your resume from someone you cold emailed, and reaches out to you to set up an “informational call” about the program… is this a 1st round?
No.
A head hunter is essentially a second layer of interviewing. Unless you have the perfect candidate resume think of it as a “informational interview”.
Answer correctly like you’re speaking to an actual firm. Nothing has happened until you meet a firm in person, that is when you’ve obtained traction.
Meet in person refers to the firm, not the headhunter.
Sorry for not clarifying – cold emailed someone at a specific firm. That banker forwarded to his internal recruiting team. internal recruiting then reached out for this call, specifically to talk to about the “analyst program”. This person is head of analyst recruiting.
Everyone I’ve been in contact is AT the firm.
Either
1) phone screen – where you are placed in yes no pile for the future if slots open
2) it is a first round interview.
Simply prepare like it is a first round interview. Phone screens/first round interviews should be easy to pass.
I know its not best to label a firm as MM especially in an interview – but what if you’re in first round/second round interviews with a firm that clearly labels themselves as MM? Ie. Harris Williams MM, Lazard MM, etc.
How would you tailor your answers to why their firm and possibly, why MM?
Same process as any other bank.
1) go through tombstones
2) find common thread/niche they are good in
3) research that space
4) say you are interested in that space and use your research to prove you are serious
What is the best way to handle some guy grabbing your girl’s ass at a bar? My natural instinct is to confront the guy but I worry about escalation and then litigation.
Go to better venues, don’t take girls you’re seeing to grimey places.
Hey Guys,
When cold e-mailing do you think sending an e-mail would be better or contacting the individual on Linkedin?
If you are a student cold emailing is usually more appropriate because you don’t have experience.
If you’re an experienced hire with transferable skills, go with the linked-in approach.
Was offered a new job outside of banking with a real estate investment manager. Mainly wanted more money than my current role (1st year RE CB) and better learning opportunities (new job is a 18-month program).
Told my boss I was leaving and he swiftly made a counter offer to match the new pay and offered ways to improve my role in the group.
Typically people say not to accept the counter offer but it has been made clear they want to keep me and this is there commitment to have me stay. I just have a hard time believing there won’t be a target on my back.
Any input or advice would be appreciated..
This is not something we can help with because it is entirely your read of the group.
9/10 times you simply leave because you would likely be next in line for the reduction in work force
1/10 times you stay, if and only is you’re absolutely certain the boss likes you. You’re certain no one else in the office knows of the situation, the more people that are aware the worse off you are.
So if you make us decide, you leave.
Appreciate your input – I am currently the only junior banker on my team as our VP left in March. No plans have been made to fill his spot as I have been able to handle the increased workload.
Just met with HR, my Boss, Group head and Department head to discuss the matter. And all assured that it would not look unfavorably upon me and they want to do whatever they can to make me stay. HR has asked me to help with an internal project to improve analyst program and training.
Ultimately will stay thru bonus season as I am not too thrilled about the new job and have a few things in the pipeline for Q1/Q2 2015
Thanks again!
How do you guys feel about fake breasts? (On women, not men. Or chicken)
No preference.
Do you have any recommendations for preparing for buyside interviews? (Current IB analyst at MM firm, how would you go about prepping if you were me?)
Are there interview packages on the web or books you recommend?
Wall Street Oasis has a Private equity interview package but it is extremely high priced. $299 for an interview guide. Do you think this is worth it?
In short, no.
This has been asked several times and we will give the same answer. Your best bet is to obtain the materials from your analyst class. If your analyst class does not have it on hand, then you know what that means… The bank has a very poor placement rate.
Books/guides? Didn’t buy so have none to recommend.
The PE interview is straight forward.
1) case
2) LBO
3) write up
4) industry knowledge
That’s the format. If you can build skills in 2 and 4, you’re all set.
Graduated last year with an Master’s (not MBA) from a top target school who had tried to start up an oversees company that was a complete failure. So now I am without a company and a job. Plus I am old, >29.
How can I explain the year gap on my resume now that I am trying to get into banking? What type of banks should I target? I am willing to take a middle office role.
There is no year gap, it is a failed business put it on the résumé and explain in the interview room if asked.
1) target the industry that is related to your start up
2) start networking aggressively
I have an informal informational interview coming up with an executive director recruiter at a BB. How should I prepare?
My friend who set up the meeting told her that I am not necessarily targeting investment banking. This was true, but I was told by a former IB professional to try to express my interest even though I doubt that I have a chance getting in.
How do I say I will take anything (commercial/corporate), but would prefer investment banking without sounding desperate?
WSPB Quick question,
How bad do underage drinking tickets look for interviews for summer internships? I got one earlier this year that is completely expunged and another one this Friday in a different state than the first one. How will this impact my interviews? Any advice?
That is entirely dependent on HR and would be out of our wheelhouse. We do not know how each item is legally classified.
I’ve been following society’s path for 22 years now. Studied hard in elementary, high school, university. I’ve been working hard for 22 years now. Did an IB and PE internship.
After going through 22 years of turmoil, how do you learn to let loose. I feel like I’m too intense, too serious, too high strung all the time. I’ve forgotten how to have fun, relax, joke around in social situations.
Any advice?
So we are clear based on your post you’ve gone through zero years of turmoil.
Zero. You’ve correctly played your hand and are now in great shape for real life to begin.
As soon as you start work you need to develop an on and off switch. When you are not at work, you should never speak of it, think about it or even bother bringing it up. Instead when you have your free time go and focus in doing fun things with your life. The rest will fall into place if you actively do this over the coming years.
Simply put, you have to remind yourself that when you’re not at work there is literally nothing you can do to improve your position. Once you realize this you will no longer be high strung.
Again, your decisions will pay off. Just practice the relaxation part, take up meditation as a starter.
I am in a similar situation as the poster above.
What would you guys classify as turmoil in life?
Perhaps the comment could have been incorrectly understood.
It means the poster and yourself included are simply “stressed out”. Once you have your ducks in a row, ie full time job lined up, you should feel free to take a week off and go party have fun, drink, play sports hit the beach etc etc. Do whatever you need to do to give your brain a rest since you deserved it.
Now the reason why it is not turmoil is because nothing bad has happened at all. Working hard and becoming successful is “turmoil”? In what world.
Turmoil is 1) life threatening disease, 2) a family member who helped you for 20+ years gets cancer/disease and is going to die, 3) you cannot help someone because you are broke and are forced to watch a friend/family member die.
Things that really change your life in a bad way is turmoil. Turmoil is not “my girlfriend dumped me” or “I am stressed”. Leave those complaints to the losers in life. Neither of you are walking down that path on a first glance. If you feel stressed, close the computer, turn off the brain and go do something fun. You’ve earned it.
What are some common ways a <25 yr old guy can add value to someone much older and richer than them? (The person has already agreed to help you in some regards, but you want to keep the relationship going)
-Introducing to successful family members
-Introducing to nice younger girls
Are some of the things that come to mind quickly. If you want this person to continue helping you out, what things would your recommend doing to add value?
We have covered this before.
If you’re significantly younger than someone the best way to add value is to show results.Read our post on how to find a mentor.
If a person is really successful all he wants to see is his advice working for someone else. That’s really the best way to build a bond. You ask for advice, you take advice and it works, you show him the proof of improvement.
Now he will go out of the way to help you in the future. Everyone who is successful has a lot of ego/confidence.
This is sort of an NYC specific question but… where do you guys recommend a young analyst buy his groceries? Trying to eat a healthy diet and keep eating out to a minimum but haven’t been able to find time to take regular trips to Whole Foods. Any tips?
Do all of your shopping on the weekend. If you do not spend over $100 you did not buy enough items. Do not waste your time going to the store multiple time s a week, you can go to any grocery store you wish including whole foods if you go once a week on the weekends.
Simply place into google the closest grocery store to your apartment…
Ok, thanks for the tip. Would you say buying your groceries physically is a better bet than ordering them through FreshDirect?
Grocery stores are great places to meet women so go ahead and buy physically. This is always up to you of course.
If an MD has agreed to meet up with you for coffee to discuss “next steps” in the analyst process (ie. think he wants to meet you/screen you to see if he initially) likes you…
But the meeting is during work hours – is it fine to wear business casual as an analyst to make it easy to duck out of work as that’s what you usually wear… or figure out how to get away with a suit?
Wear a suit. All you do is wear a 3/4 length jacket when you come to work and take the suit (underneath) off along with the 3/4 length jacket.
No one is going to know unless you’re un-coordinated.
That or just show up 5 minutes earlier and stash it away so no one sees. finalyl you can also use a locker room. As you can see there are 100s of ways to wear a suit.
I realize excel is very important and I’ve followed your posts about improving speed in excel and am feeling pretty confident. But I start on my desk in 2 weeks and feel my PowerPoint skills are rather limited. I don’t want to be the guy that’s too slow at turning around pitchbooks, do you have any guidance on what one should do to improve PP speed?
PowerPoint is rudimentary at best. Simply know the short keys to align tables/charts.
The truth is all the important short cuts will be company specific so you have nothing to worry about. Just look for the built in macros for your company and memorize them in the first week.
Will do, thanks
Hello I would like to ask you if I’m a coward. So my parents have been having constant fights for a few months now. In some of these fights there have been instances of domestic violence, my father hitting my mother, but not anything extreme. I myself 19 years old have step in during some of these instances and almost come to blows with my father. I have never been in a fight nor do I want fight my father but if I have to then I will, I’m can’t sit back and watch him hit my mother. Now I have told them both to get a divorce because of the fighting and haven’t been told that I’m selfish that I should let them workout and I don’t care about them, and that not how family operates. The reason why I have told them to get a divorce because I strongly feel that if this situation continues it will only get worse, all I see is disaster and escalating violence in the future. I have an opportunity to go and live with my aunt until I can stand on my own too feet, and I i’m strongly considering it, because I don’t want to live in this environment. Am I a coward for just leaving?
We would leave and believe you’re making the right move. 1) they don’t respect your opinion, 2) they won’t listen to what you have to say.
Don’t get involved with violence. Don’t let your family tear you down. Ignore them and leave, you won’t win that battle.
*This is not in any form legal advice at all, just an opinion.
Quick question on game. I’ve typically been all about night game or friend of a friend game (the absolute best/easiest in my opinion) and have recently been transitioning into day game. I’m OK at doing it on weekends when I go shopping or whatever it may be but I just feel pretty uncomfortable during the week i.e. to/from work or during lunch break, for a few reasons, though I think I may just be making excuses to myself…
1) I work in the Financial centre in London and everyone is rushing to and from work, how on earth do you stop a moving target who is probably in a hurry? (Have always had a problem with moving targets, hence why I prefer the night game or coffee shops for day game).
2) The city is a small place, I feel like if I approach 10 girls a day it won’t be long before I get a reputation which could be detrimental to my future earnings potential (I’m pretty easy to remember as a 6 foot 7 black guy).
Everyone talks about how great the girls are in the City but no one does anything about it unless fueled by alcohol, I hate being part of this herd!
Am I being a wimp or are my concerns legitimate?
Do not day game there. In your shoes only day game on Fridays and weekends so you can go to different venues.
Once you feel confident in your skills do them anywhere you please.
Women are never worth the risk of lost money. Never.
Is it ok for a 35 year old to go clubbing and to bars or Im I considered too old for these type of activities?
perfectly fine.
Agree with a.
1. Best way to sexualize dates? All of my dates are at coffee shops as I’m in LA with no car, 20 y/o so no bars, and conflicting schedules. I’m teasing and holding their hands, but I still feel like I don’t get the message across. What’s the best way to go about this?
2. Modeling Courses? I’m currently at a community college and positioning myself to transfer to a target. My parents have offered to give me a Euro trip with my boys or take on a modeling course with Investment Banking Institute next summer. From what I understand, you don’t feel strongly about modeling courses, but would it give me a leg up in regards to transferring to a well regarded university? Or should I just take the trip?
1) simply make a move. Try to go for a kiss and never go to a coffee shop date, go to a park go see a sunset whatever it takes to get out of the extremely low probability of fun area ie: the coffee shop. Your Vvenue choice is the main issue.
2) you should get an internship. At the very top of this page we already state that no one cares about modeling courses. What firms care about is work experience which will be obtained by a résumé that has previous related work experience so they feel comfortable givin you a shot at more responsibility.
See our post on college.
In your advice, should I stick with my liberal arts degree in computer science ( yes the college is an LAC ), without incurring any cost at all ( they are giving me a full ride , including room and board), or spend an extra year pursuing an engineering degree at another college , with a cost of 20k USD ? I shall have to loan all that amount, since family finances are incredibly unstable.
We have covered this already in our post on college.
Run the math and decide which one provides the best long-term financial return.
We cannot answer these questions for everyone it is up to the person to 1) do his homework at the career center, 2) assume a probability for success and 3) build his résumé up.
You need to do all three yourself since we know nothing about your résumé, school, job options post college etc.
I’m in college, studying economics, and I already have a job in retail banking, with a very good pay, that allows me to save a lot of money, and I wouldn’t get anything like it anywhere else until I graduate (about 2 or 2.5 more years). Now there is another company open for interships in investment banking, paying higher than most interships, but only half what I make today. Would you recommend I keep my current job until I graduate, or should I get to IB as soon as I can?
If you want to do investment banking, you go into investment banking
If you think you can make more money (post graduation) in your current job and long-term… And are in it for the money, stay in your position.
Same answer every time, if you’re trying to break into XXX division, you should always take a job working in the same division.
I have an option at university, whether to do a dissertation or take an alternative module. From a resume-building perspective, does it matter which option I take? I’m only asking because I’m leaning towards one of the possible alternative modules that is on a certain finance topic that would be useful for me in life… whereas a dissertation is basically dressed up independent research. Thanks.
Neither of those appear to be related or transferable to front office work. So simply choose either one, they won’t change your emotment options.
Only things that will help you are
1) finance course work with high GPA
2) work experience
3) networking/connections
Everything else is not going to move the needle
The module is Financial Management 2, an extension to the first of the same name that I’ve already completed. It will be the most useful in my life going forward (not talking purely resumes here). But OK, I was really just checking if a thesis is thought to be necessary, or bad not to do one.
I wasted my early 20’s being a worthless faggot(and still am) and racking up debt(student and credit card), saving no money, being sedentary, and generally not engaging in any kind of self improvement. Right now, I’m on pace to be out of credit card by next spring and I’m losing fat rapidly as my abs are starting to show now since I work out about 6 times a week and tightened up the diet. What can I do to catch up financially in terms of the thresholds you have set? I have only a few hundred in savings and fucked around and became one of those stupid losers who took on a ton of student loan debt(30K) but only have a 55-60K gig. I’m in my mid 20’s and feeling completely discouraged that my peers are shitting on me big time. Help!
You answered your own question. 1) keep your job for now but project cash flows 5 years out. If it never clears $150K+ you know what you have to do… 2) switch careers/jobs immediately.
Ask what is a topic you know a lot about. Then start a side niche business as well.
Lots of long hard work ahead, no other choice
How do you go about answering the following questions during an interview?
1) Why Bank X at City Y?
I am from the NYC area – can I mention things such as low cost of living, friendlier people, weather, etc?
2) Are you talking with other banks?
We have answers these questions alreay.
1) unimportant just say you will work in any city, location agnostic, and want to work for bank has been covered many times. Spin to deals + sector
2) always say their competitors
Hi all,
Firstly, thanks for the advice in advance. I’ve just completed a 10 week summer internship in the London office of a large bulge bracket investment bank within the TMT Investment Banking division. Unfortunately, I was not given a job offer and hence am just starting the process of applying to graduate positions in other investment banks in London.
However, since these jobs will not start until September 2015, I am very keen to get some experience in smaller (boutique) investment banks (ideally within TMT) in the US. I know that the main TMT dealflow occurs in SF and NY so am keen to apply for experience/internships there.
I was wondering if you know anything about work permit requirements for a British National applying for work in the US and whether smaller investment banks will be willing to hire people from the UK.
Does this seem like a good idea to you?
Thanks.
Generally that is a bad move. You are going to have to prove you are better than all of the USA applicants because it costs more money to hire you. In addition, much harder to sell yourself without a job in hand.
That said, you can certainly try, but it is likely smarter to obtain a top job in your country. Easier to get in and easier to stay in the industry.
Makes sense…now to continue my hunt for top jobs in London. Will keep you guys in the loop.
Thanks!
Do you juice with organic vegetables or conventional? I’ve done some research into whether conventional produce is highly carcinogenic due to the level of pesticides, but there don’t seem to be any definitive conclusions.
I use conventional and wash them in white vinegar, have been doing this for under a month and feel fine but the effects are long-term so won’t necessarily be felt now or even 5 years from now.
Have you guys looked into this at all?
No expert on this subject. Would say do whatever you can afford. Most produce shops (whole foods) have a large selection of organics so it’s relatively easy to juice organic as well.
What age in america do you consider a male old? Too old to party at clubs or bars…too old to date younger women……too old to have a six pack….I always hear women tell me hey you are 35 and dating a 20 year old? you are too old. You are 35 and still clubbing? you are too old. You still striving for the perfect physique? you are too old. Leave it for the youngsters who are 30 and under. This is all coming from a lot of american women. You are too old to get a tattoo, etc. What’s up with this age thing? Any advice on what to do or say? Thanks..I would like to hear your perspective.
You are never too old to live your life as you wish.
If you care about their opinion, that is the real problem.
Hi,
I found out about your blog on “CapitalismIsFreedom”. I read through some articles and really like the information you’re putting out.
But I have a question about where your specific stances on economics are. For example: Do you prefer keynesian (Keynes, Krugman, Bernanke, …) or austrian (Mises, Hayek, R. Paul, …) economists?
Thank you very much!
You probably have a better understanding of all the different types of theories. None of the items you listed concern us at all.
The only thing you should care about is “EconoME”
Build your own business, your own brand, your own streams of income.
Wasting your time learning about macro policies will not get you anywhere in life, unless you’re on track to be the next Janet Yellen.
Feel free to study those items as a hobby. But you’ll find your company is a bunch of people who haven’t accomplished much in their lives.
That’s true! Thanks for your answer.
I love the night life here in NYC. Clubbing,lounges, bars,rooftops, hotels, and restaurants in Soho,meat packing district, chelsea, les, and upper west side. However, bottle service is very expensive and in some high end spots where all the beautiful 10s hanging out you need to at least by two services to get in which comes out to at least a grand. What tips can you give me on saving money but still enjoying visiting these venues? I want to socialize but not go broke either. Cost of living is high anyway here….Thanks….
Day game and get a set of attractive women who will hang out with you. Then you can befriend the promoters and help him by always having girls
Once you are close with a promoter you get in for free, you don’t pay entrance and the promoter always has a table.
Hi,
I have posted here before so you might recognize my case.
I have been doing an internship at Ericsson for quite some time (final day in 2 weeks). Your suggestions was that I should apply for a more finance-based position since currently the internship is focused on Software Developing (I just graduated in Computer Science, but planning to take a master in Finance or Management).
Therefor, my interest would be to change path in this company in the future.
My question is, what should I say to the boss on the last day when I’m done? I know that implying about the permission to use him as a reference for future work, but what more? How can I show in a proper and professional way that I want to continue work here when I’m done with my masters, but in a different area (rather in finance/management)?
Best regards,
Ben
Not sure what you mean.
1) we would never recommend a masters in finance to get into a front office position. A top 10 MBA only is what we would recommend to break in.
2) you do not quit a job without another job lined up, so the answer is you should never tell him you plan on leaving and should position yourself to leave off hours. Do enough to keep your job, no more no less if you plan to leave
3) once you switch industries his recommendation won’t matter anyway, you simply say bank you give him 2 weeks and day you’re moving to xxx firm in xxx industry
In short we hope the below is your game plan:
1) getting an MBA/masters in finance WHILE keeping your job (this is the minimum and again we recommend the top tier MBA)
2) say ABOSLUTELY nothing until you have a job in hand
3) start networking aggressivley to switch careers
Thanks for the good info.
1) No, I know. But since my bachelor is in engineering I need some kind of economic education in order to advance that career?
2) I didn’t mean that I’ll quit, it’s just that it’s an internship so it’s not really an employment. Therefore, it’s not 100% sure that he will recruit me before my masters.. Since the internship is at the end, and I’ll complete my bachelor thesis here as well, that was what I was wondering
3) The masters is at the top 1 business school in Sweden, which also have an MBA afterwards
Your situation no longer makes sense.
If you are only an undergraduate with a summer internship you have plenty of time to get a job. You take finance classes and use the job offer as leverage.
If you graduated already then go back to our response and use that as the guide.
“Guys who visit the blog are still looking for “the one”. Stop. If you find a girl you like, give her a ring + ceremony. No contract ever.” Excellent tweet to cover yourself but what about common law marriage and moving in? In some states like Pennsylvania after 5 years of living with your girlfriend you are considered legally married and half of your assets belong to her. How do you protect yourself from that? why is it that so many men are afraid to stay alone and not marry or move in with a female?
In that case you have to move or never officially live together. That simply solves the problem entirely.
The last question, we do not know. They are either naive or hopeful. Likely hopeful as many men who get married are well off, but the rules simply do not make any sense anymore.
How would you recommend answering the “What is your greatest weakness” question effectively?
Just choose a skill not needed for the job.
Example: investment banking analyst you’d say you’re not ready to sell companies at this time and view large sales skills as a current weakness and why you want exposure to the process.
You win with this answer because it implies you know you won’t have to sell and that is a major worry for banks – that candidates don’t know what their jobs entail. You simply say “want to see the process” ie: learn for the future but not expected to do so.
—
If you can’t find a skill that is unnecessary, go with something you haven’t done before according to your résumé. It’s always a good cop out becuase you’re just pointing out a skillset you haven’t touched yet, the interviewer will see it anyway.
What do you do about a shitty associate who
1) passes off work to the first years and other analysts and does not add any value
2) This guy is technically challenged – is literally afraid of excel and doesn’t know anything about finance
3) waits to the last minute to do things and passes off to analysts to do all of his work for him while screws around and “works”
I have told him before that I do not have capacity and he thinks I am complaining and might have gone to our VP staffer.
Should I or other analysts confront him and have a conversation?
Is this a conversation I need to have with my staffer the VP? (The associate has also come back drunk one night and made us stay up late to finish books for him while we waited for him to get back from his dinner with his GF. – Leverage to talk about with my VP?
Thanks in advance for the advice
Do not complain about someone more senior than you by yourself.
You need to 1) be certain he is not at the firm for political reasons – make sure his dad is not the CEO of a major company for example – or related etc., 2) only bring the situation up with a major support group ie: other associates/VP’s/ the whole analyst class.
With only 1-2 analysts complaint you will look like you’re the problem. This is the whole reason out post on office politics is the most important post on here for sell-side work (also why everyone should go buy-side).
The next strategy you should do, is become friends with the VP.
We can’t help much beyond this comment. You have to become a well liked analyst and try to 1) not get staffed with him or 2) do the above and make sure you have a support group before trying to go up against someone more senior than you.
There are a lot of a**holes in this industry. Find a solution. It will be one of those two. Hate to tell you, but usually if he is truly this incompetent he is there for another reason so you’re better off being a top analyst and avoiding staffing with him all together.
Hi sophomore in college and college has revealed my extreme lack of social skills. High School I had quite a few friends or at least people I could have a conversation with and hangout with when I felt like it. I now realize that it took me months during high school to actual make a lasting connection with these people, and saw these people on a daily basis. In college the classes are so big, there is not much talking while in classes, and classes are usually once a week (don’t see the same people often, compared to high school), so i’m having a hard time making friends. The school i’m going to is a big commuter school I myself a commuter so campus life is not that exciting. Can you help me increase my social skills, like provide framework that you use to make lasting connections and relatively fast connection with people. Or tell me how I can increase my social skills because I really have none.
Make it easy:
1) join groups/intramural teams
2) stay on campus later
3) get a job immediately
4) if financially plausible, stop commuting and live on campus
5) force yourself to talk to 1-2 new people everyday from now on
If you do all of this you will have a social circle quickly. Good luck!
how would you describe someone who is a true playboy?
Rich, no problems with sex life, many close friends and happy overall with his entire life.
Keep it simple
in good shape, loved by many women. something like dan bilzerian’s life
would you say James Bond is the epitome of a playboy? well dressed, fit, looks good for his age, bangs multiple women for what they are worth and leaves them the next night without flinching, has expensive taste, drives fast cars on someone elses dime, thrives off danger, always composed, never intimidated, speaks multiple languages, well traveled, single, etc.
Where can a guy in his mid 30s go to meet and date younger women? I don’t work around them. I’m not in college anymore. Any tips? also how can you make yourself desirable and become very attractive to younger women? Over seas is easy but in the states younger women don’t find a lot of older guys desirable maybe attractive but not like yeah I want to sleep with that guy. I look younger than my age but women in their early twenties once they find out my age they are like damn you are a little too old for me. Now mind you I m in shape and dress good. Any suggestions? BTW…I just want to date and bang younger women. I dont want anything serious…
Not sure how to help, in your early 30s dating women 25 or younger is extremely common, particularly in NYC.
If your age is hurting you and you have no intentions of committing just lie about your age. Problem solved.
Noticed this comment from a different question above:
“With only 1-2 analysts complaint you will look like you’re the problem. This is the whole reason out post on office politics is the most important post on here for sell-side work (also why everyone should go buy-side).”
Could you elaborate on how office politics changes when you jump to the buy-side?
Pretty simple.
When you move to a hedge fund you are under a PM. That is pretty much all. So you’re practically 100% tied to performance.
No real politics, make money get moved up.
The only real crucial part is you need the PM to like you, but it’s hard to dislike someone when you’re making money.
True for Hedge Funds, but what about PE? Seems to me working you’d still have to play office politics since private equity is a more long-term game.
Yes similar to banking, very dependent on the group though.
But even in PE it still has less *generally*. Since you’re being paid to think more than process if you are good.
Politics are crucial in general. Otherwise known as people skills.
Im currently working as an intern with a financial advisor. How can I spin this experience on my resume for IB?
Most likely too far down the food chain.
Try to spin it into wealth management (or better), another internship, then go for front office slots.
Any advice on first year banking analysts who feel like they’re not learning as much as they should be?
Feel like I’m processing a lot rather than analyzing. Yes, I realize there is a bunch of stupid stuff done in banking but is there anyway to actually learn about the industry? (tech) or learn more from the senior bankers? For instance: i learned more from a 15 minute conversation with a director about the software industry than doing stupid powerpoints/decks or other..
Yep this is entirely your job and your job only.
You should read research reports, read old pitch books, read 10-is and 10-Qs… All on your free time.
If you expect anyone to actually sit down and teach you, you’re going to be sorely disappointed.
Go out of your way to learn by yourself. That is the best solution.
Going into a first date vs. Being charismatic and social in general… What’s the difference in your mindset/state?
No difference at all.
We have mentioned this numerous times, state = your personality.
Using the word “state” implies it is *temporary* and you have to “change personalities” before every encounter.
This is unhealthy, you should always be in “state”.
It’s your personality.
Flakes – how often do you get flaked on?
I find I get flaked on a lot DESPITE getting a lot of attention from women. For example, I approached 6 girls last week on campus (I’m 22 years old – last year of school, 6 foot 3, 198 pounds @ 10-11 percent body fat and have a good face), who all gave me very strong eye contact (2-4 seconds) and got all their numbers. I was physical with them, (touched their arms, etc) they complimented me on my looks and I got their number within 5-10 minutes (some of them even less). 4 of them ended up flaking and the conversations went very stale after that.
Is flaking just par to of the game? Will a girl flake on me even though she found me physically attractive? I have even been flaked on girls who were much less physically attractive then me.
Sounds like you’re thinking too much and are likely doing just fine.
Flakes do not count for anything the only ratio that matters = number of approaches converted to actual sex.
Just focus on improving that metric, flakes are a waste of time to track because women are extremely emotional/in the moment.
Makes sense because even when I run into these girls at a randomly party/bar even after being flaked on, we still hook up and she is still into me IN THAT MOMENT.
Thanks.
I’m in the same situation as you and still get a TON of flakes. Just part of the game.
I get women into me all of the time at the bar then the next day they’re very cold.
Debating oil and gas (energy) finance or 2-4 years at an oil and gas company and then O&G sales. I really can’t decide, both options seem very good and I’m in a position I can get into both. High quality problems I guess…
I remember seeing in a post if you’re a top sales guy you can go into wall street later (pulling 200-300k). Additionally it seems Wall Street has a high chance to spit me out in the first few years (I’m learning sales skills now while I’m in college) and sales is the “safer route”. Or finance after working for an oil company for a few years.
Do you guys have any input on the above?
Unless the alternative sales job will pay more over the first 3-5 years there is no reason to take it.
If you get a Wall Street slot at a legitimate firm, you take it.
Converted SA internship at a MM bank (thanks for all the help thus far) and am now looking and trying to secure a better offer for when i finish university.
I remember a post of yours ranking the banks as follows for junior roles: 1. Elite Boutiques 2. Bulge Brackets 3. MM.. I was wondering if you would apply the same rankings in Europe – because it seems to me the EBs have a much smaller dealflow.
Also, any advice in going about choosing a sector/product team to join?
Once again, thanks.
We do not work in Europe so you’re on your own.
Simply choose the best bank with the most exit ops/deal flow.
No one gets questioned for choosing a top tier BB bank. Quite easy to explain that choice in any interview, good luck!
Hello,
We could use posts on becoming a more interesting man and how to articulate that to women and others. No fluff, I am talking concise, specific actionable steps. Thanks.
This is not worth a post because if someone has to tell you what to do to become interesting then you are going to be a carbon cookie cutter (watered down version) of someone else. No need for that, you can find interests yourself quite easily!
If you forced suggestions here are easy ones since interesting simply means “don’t
be like other men”
1) learn to play a musical instrument at a high level (anything)
2) learn a partner dance and become proficient at a high level
3) travel to at least 10 different countries (stay in each for at least 1 month)
4) make a friend in each country – minimum
5) learn at least 2 foreign languages (conversational level minimum)
That should get you started, again we won’t do a post because you should have your own interests. Generally, most people are too lazy to get off the beaten path and find their own hobbies. Don’t be that guy and you’ll thrive.
Good point, I guess the question then becomes how do you articulate that women without being a braggard or try hard? Any tips?
Easy, show don’t tell.
Ex: never say you’re a good dancer. If a swing dance comes on you simply ask the girl to dance then she’ll “know”.
“Talking” about how good you are never works.
If you’re going to a networking event for all high finance – PE/HF/IB and have a target for one of these (Entry level position in IB), but know no one there and you’re very junior – what is the best plan of action?
Already covered. Search the Q&A and old posts.
The answer will not change.
Can you explain your last tweet more? Don’t quite get it.
When a girl turns 26…. Perceived value > actual value. Never get into a relationship with a girl 26+, if smart she has a good man already
Based on observations of women, at 26 they believe they are significantly more attractive than they actually are. Therefore their expectations are too high and they are not worth pursuing for a relationship anymore.
Feel free to try to break the rules, but girlfriend material is usually under 26. The smart attractive girls usually are taken by a good man by 25
Nothing is 100% but it’s a good guideline.
good advice. toughest part is finding these girls.
Hey Guys,
Just wanted to thank you. Using your guys’ advice I literally just got laid. My lifestyle has improved (better fitness, grades and networking skills). Hope you guys keep impacting lives positively. Thank you!!!!
Cheers!
Thoughts on dating a girl that you met at the tail-end of her long-term relationship with a boring but nice guy? Not too worried about her doing the same to me, since I keep her interested and well sexed. And if she does, then onto the next.
Doesn’t sound like a keeper. If you caught her at the tail end, it implies she cheated on him with you.
If she’ll cheat on him, she’ll cheat on anyone.
That said this is your own judgement call.
How can we follow all your advice regarding investing to build net wealth if investment bankers aren’t allowed to invest their personal income into the stock market ?
1) investment bankers are allowed to invest in the stock market. Your premise is incorrect.
2) we already answered you on the investment banking Q&A
Please do not post the same question in multiple locations, waste of time and effort.
If you’re a novice just dollar cost into the S&P 500. Don’t listen to us just listen to warren buffet.