Not to be a dick, but as someone who just laid off his entire support staff bc the deal flow is less than impressive in this lovely ****storm... Drill elsewhere. I'm hiring experienced studs at bargain basement prices.
Wow Pouhe! Thanks a lot for the info, you too University Blue. Pouhe, you are right on the money, everything you advised Keeyanballa on was on point. My cousin did all that bu I think he was between 3.0 and 3.5 on the GPA. Add Nothwestern Mutual Network to the list of shady commission based sales jobs-paying for your training up front, etc. Thanks again man and everyone that offered advice-from Job search and industry info to get the heck outta the finance industry advice. Every bit was helpful. Thanks again guys.
Is it fair to say that support staffs are first to go? Then middle managment? Finance is not where it is at, but if you survive through it, you will come out the other end stronger and better than ever...unless you are right at the top, then you are most likely in a much better position.
pouhe, you seem pretty knowledgeable about these companiese...do you know any more about the analyst positions with these companies? Specifically, compensation and exit opportunities?
Let me rephrase myself... Honors classes weren't EASIER per se. The Honors classes moved at a faster pace, probably had harder exams, and challenging side projects. But, I felt that there were better opportunities in making a better grade because (a) the classes were smaller -- better rate of attendance and listening in lectures, also more teacher-student interaction as opposed to never speaking to a teacher in a bigger 100+ person class and (b) there was a minimum GPA of 3.25 to keep in good standing with the Honors college and I felt that teachers were more lenient on grading so that the students could meet that minimum. I may have sent mixed signals. Bc I'm confused myself and I still haven't TRULY figured out if being in Honors actually HELPED me or not. But, I ended up having a good GPA and I found a good job related to my majors... so I can definitely say that being in the Honors classes didn't hurt me. Whether or not the recruiters and/or interviewers selected me or gave me an advantage because of the fact I was in Honors class, I simply don't know...
There is a better chance of finding LIFE ON MARS than a job in finance these days. Take Michael Lewis' advice young men.
No; sorry, the only one I had any actual knowledge of at all was HFBE, and literally the only thing I knew about compensation was $10.00/Hr for an intern. I do recall they seemed pretty good about retaining and promoting analysts sans MBA; one of the analysts above me and one of my co-interns from U of H 8 years ago are both VPs now. Back then, it was a small firm of 20 Finance and Accounting majors with a bunch of U of H, A&M and UT people 5-10-15 years out of school: really friendly, cohesive and low key. They seemed to hold CFA and/or ASA (American Society of Appraisers) designations in the same esteem as grad school. I imagine you'll probably stay late working on valuation projects; but they all seemed to have reasonable hours compared to what I read about honest to goodness I-bankers. Back then it was just one floor on the Esperson Building, now they've got a both Houston and Dallas branch; and they seem to present themselves as more of a small-market investment bank than just a business valuation firm (Fairness Opinions, ESOP Valuations, Private Placements).
My friend, who used to work at BNP Paribas, quit his job as an I-banker about 9 months ago, since he thought he could make it as an entrepreneur in real estate. After a few months he realized it wasn't working out so he decided to come back and work for another large I-bank. But he has had no luck and now he hasn't had a job for the past 6 months or so. He told me a story recently how he applied for a unpaid internship in Cleveland, Ohio of all places. This is a guy who made 100K base salary along with 100K bonus every year. U-Penn undergrad education and all. The people who were competing for that unpaid internship were three former Lehman, and Bear Stearns employees. In the end the internship went to none of these people and instead went to a PHd holder. If you can wait it out for a few years, the finance field will come back. But till then "bide your time."
There's an entire generation of 20-somethings here with vague aspirations to do "finance" rolling around NYC and other areas who have no training and no real experience other than in dead sectors, and no chance of getting jobs in the foreseeable future. People just have to accept that their chosen career isn't there anymore....which is not altogether a bad thing as most people just chose it to follow the herd and chase the $$$ rather than out of any real love of the game.
Hey guys - quick question. At one point I was offered a position with Chase Bank to work for one of their banker positions. You had to do a lot in the retail banking area (opening accts, setting up loans, etc), but they also paid for your licensing and helped you gain experiences in the finance industry...it sounded like a good gig. Well, i intervied for the position and spoke with the manager and everything (she loved me, **i think**) and offered me the position, the only thing that i had to do was take this personality test. Bottom line is this, i failed the test and didnt get the job. I dont know how that test evaluated me cause I love sales and the concept of selling my product/idea to clients and customers. I've done sales all my life and I've been in banking since my first job, and i've really enjoyed it. How is it that i failed that test when I love sales and i feel as my personality leans towards that area? Better question: How can i cheat that damn test?! The HR lady at Chase even gave me another shot at taking the damn test. She realized that I had a lot of potential and really wanted me to join the bank. Well, guess what? I flunked it again. HR couldn't over ride the testing results cause according to company policy, without passing that personality test, no one can get hired. That pissed me off. I got to thinking and told myself to try other things. But my heart always leaned to a customer service with sales position. I'm involved in sales now, but in the future, how can I pass the damn thing in case i have to?
Not sure about the Chase test, but the one I passed, you have to be (or play the role of) someone cocky / confident, arrogant, competitive, and aggressive.
That doesn't sound right to me at all. If you really want to know, read this. http://online.wsj.com/article/SB123129220146959621.html When Anton Smith applied for hourly work at a Finish Line sneaker store in Charlotte, N.C., his first hurdle was showing he had the temperament for the job. Finish Line Inc., like many other retailers, makes applicants take a personality test before it will consider interviewing them. The test asks whether they agree or disagree, and how strongly, with 130 statements. But thanks to a little digging on the Internet by a friend, which turned up an unauthorized answer key, when Mr. Smith took the test in late 2007 he had a good idea what the employer wanted to hear. Statement: "You have to give up on some things that you start." Suggested response from the cheat sheet: "Strongly disagree." Another statement: "Any trouble you have is your own fault." Suggested response: "Strongly agree." (more on the link)
human situation was the MOST pointless class I have ever taken in my life. that along with all the bull**** the honors college makes you do led me to dropping it. not only me, but a good percentage of my friends. one of whom was a terry scholar, who for those dont know who that is, has everything paid for them basically for all 4 yrs. you have to go through interviews and everything through a huge pool to get this. and another reason i dropped it was the fact that since i am paying for college myself, not my parents or anything, it saved me money, and i would still be able to take OPEN honors business classes if i needed/wanted to, and that means ppl who are not in the honors college are allowed to take the honors classes. doing all that, saved me alot of money, and i even gained money out of it bc now UH is paying me to go to school this semester. yup thats right, they owe me $130 to go to school this semester alexdapooh, would it be cool if i could email you ask questions if i ever had any seeing that you are 4 years ahead of me in the position i would like to be in with the finance degree, and the whole taking of the business honors courses? oh yeah, leslie thornill is no longer an advisor anymore, which is really gay! she got promoted.
1. U of C undergrad? Business school? 2. I recommend a consultancy at Lexecon, though it isn't exactly a finance position.
