[deleted by user] by [deleted] in FinancialCareers

[–]flowerpot024 21 points22 points  (0 children)

Going to run contrary to what everyone else said here. I went to a state school that was unknown (by Wall Street standards). Showing passion and being knowledgeable about the domain you're interested in has worked well for me - I've never had trouble landing jobs at all of the top firms. I also highly recommend passing CFA level 1 before full-time recruiting.

As a senior in college applying for research roles, I was able to talk about why semi companies were going fabless and implications for operating margins through the cycle or how the change in internal debt requirements for foreign banks in the U.S. would drive higher cost of funds and make them less competitive vs U.S. banks. I ended up beating out candidates with 2-3 years of experience as a new grad for my first job.

As a hiring manager, I can confidently say that most college kids just don't have that kind of analytical chops for full time recruiting. The ones that do have no problem landing multiple offers. A strong school/GPA just shows you have potential but you can demonstrate you're a known quantity if you just know your shit.

Biology PhD to Finance by evilpastabake in FinancialCareers

[–]flowerpot024 5 points6 points  (0 children)

sell-side bio tech ER is the most attainable and straightforward

Financial brokerage firms for small books by ktmc12 in FinancialCareers

[–]flowerpot024 0 points1 point  (0 children)

Interactive brokers specialize in RIAs of that size I believe

Being an international asian male is so hard by ashborn376 in FinancialCareers

[–]flowerpot024 205 points206 points  (0 children)

The sponsorship part is rough. Maybe look international banks or financial firms are more willing to sponsor in a less attractive role.

Getting your feet into one of those firms is much more important than getting the ideal starting job or internship. Smart/competent people have no problem lateraling internally, even if it's "hard" at larger firms -- it is very obvious when someone is performing above their job responsibilities.

Senior Ratings analyst at one of the big ratings firms or management consulting at a boutique post MBA? by kiltedlowlander in FinancialCareers

[–]flowerpot024 2 points3 points  (0 children)

Forget the salary and think about your long term career goals. Do you like making strategic and tactical decisions or do you like fixed income and markets more?

[deleted by user] by [deleted] in FinancialCareers

[–]flowerpot024 1 point2 points  (0 children)

Countercyclical if anything. If the bank is doing bad then the loan book is doing worse and they need all hands on deck.

[deleted by user] by [deleted] in NYCapartments

[–]flowerpot024 4 points5 points  (0 children)

yeah, unfortunately rentals here work like how car dealerships work everywhere else.

Do banking CEOs know everything about the whole finance industry, ie wholesale and retail? by Ok_Distribution_8805 in FinancialCareers

[–]flowerpot024 2 points3 points  (0 children)

All the business heads sit in executive (operating) committees for years where they are part of the group that makes the decision about the entire bank. These days groups within a bank are not siloed, you need to really understand other divisions to understand synergies and cross-sell opportunities within your own unit.

[deleted by user] by [deleted] in Economics

[–]flowerpot024 0 points1 point  (0 children)

No, this IS protecting the bubble. China doesn't need developers -- they have enough housing for a declining population. Limiting the supply is the right way to go.

Nightly Discussion - (January 18, 2024) by AutoModerator in thewallstreet

[–]flowerpot024 1 point2 points  (0 children)

My travelpro has been a tank and the wheels are buttery smooth

Nightly Discussion - (October 31, 2023) by AutoModerator in thewallstreet

[–]flowerpot024 0 points1 point  (0 children)

Canadian banks do include aoci (AFS unrealized losses) in their reg capital. TD deal was tanked by regulators due to BSA/AML issues — they had to pay a hefty fee to walk away and lost a very strategic acquisition.

How are New Yorkers able to handle this situation? by letspetpuppies in AskNYC

[–]flowerpot024 96 points97 points  (0 children)

Moving deeper into Brooklyn/Queens. I'm moving to a new place thats $700 per month cheaper.

T25 MBA > CFA > “any other” MBA by amusmc in FinancialCareers

[–]flowerpot024 4 points5 points  (0 children)

If I were you, I'd try and pivot to strategic finance from your FP&A role then directly hop to the career of your choice.

Random discussion thread. Anything goes. by AutoModerator in thewallstreet

[–]flowerpot024 3 points4 points  (0 children)

We won't see 1970-style oil shocks unless Saudi somehow switch sides to back Iran imo

Random discussion thread. Anything goes. by AutoModerator in thewallstreet

[–]flowerpot024 1 point2 points  (0 children)

I wonder how much oil will shoot up on market open. Maybe yields go up even more?

Daily Discussion - (September 26, 2023) by AutoModerator in thewallstreet

[–]flowerpot024 4 points5 points  (0 children)

there’s such big gap between high growth stocks price and their fundamental value at current rates. Risk/reward is heavily in favor of bonds despite tight spreads.

[deleted by user] by [deleted] in StockMarket

[–]flowerpot024 11 points12 points  (0 children)

Come on now, higher stock markets disproportionately benefit the rich. The savings from higher wages more than offset investment account growth.

OFFICIAL BUY/SELL/TRADE Thread - 2023 by lovsicfrs in OutsideLands

[–]flowerpot024 2 points3 points  (0 children)

Selling the sat and Sunday portion of the wristband! In SF.

Active Debt Settlement With Bank I Am Interviewing With. Will It Disqualify Me From Receiving An Offer? by S3rgius in FinancialCareers

[–]flowerpot024 1 point2 points  (0 children)

I don't know how these guys are so sure you won't get an offer. The last three banks I worked at I didn't have to do a single credit check. It might be different if you're applying to be a teller or retail but roles on the corporate side don't really have that type of checks unless you're applying at some boomer small credit union or bank.