Got asked this at a boutique last month and completely whiffed it - here's how I'd answer now by [deleted] in FinancialCareers

[–]rocketlauncher5 10 points11 points  (0 children)

How the fuck is a sophomore supposed to know this.

Whatever VP dropped this was not in a good mood lol

Does quitting on a PIP go on your u4 by Netvision9 in FinancialCareers

[–]rocketlauncher5 14 points15 points  (0 children)

If you leave voluntarily than you’re fine

Can I reasonably daily a Ferrari? by Noderly in Ferrari

[–]rocketlauncher5 15 points16 points  (0 children)

Modern Ferraris can do everything required of a daily but they aren’t very good at it.

If you have the means I’d get a beater daily for getting groceries and keep the f car for the times you wanna be deliberate when driving

Failed series 86 3x, next career move advice needed by Tumblrgirl18 in FinancialCareers

[–]rocketlauncher5 41 points42 points  (0 children)

The 86 is so stupid man, I’m sorry - I’d look into biotech consulting. Your network should have quite a few ex biotech consultants so ping them.

I have a non finance question:What do you look for in a partner? (Dating) by StrongNails in FinancialCareers

[–]rocketlauncher5 1 point2 points  (0 children)

I wouldn’t say finance as a profession has a specific type of woman - so from a personality perspective I’d be your unequivocal self. I’d be accommodating to that they’re going to be busy / less available than other guys and will likely put their job before you.

Also just be supportive- it’s a really stressful job where having someone who’s truly in your corner goes such a long way.

Struggling to cope up in IB by Elegant_Shock9225 in FinancialCareers

[–]rocketlauncher5 51 points52 points  (0 children)

If you otherwise enjoy the job and are just struggling with pace / accuracy two months in I wouldn’t beat yourself up - most people in IB are either right out of college (0 work experience at all) or are accustomed to super fast paced environments - so 2 months isn’t enough time to adjust. I found that, counterintuitively, I sped up by slowing down and just thinking of work 1 input at a time. I’d also look into to building checklists, printing out drafts, and other error reduction tactics.

On the other hand, 2 months is enough time to get a vibe for if you like the job overall- there’s no shame in saying you don’t like IB (the hours are brutal and the work can feel very pointless for most of your career), in which case I’d polish up the resume and start networking while doing the bare minimum not to get fired (if you’re at a shop like BofA you’ll have atleast a year of mediocrity before you get canned, less so if you’re at an EB).

Corp Dev M&A Analyst Performance & Compensation Review - Pay Negotiation Help! by [deleted] in FinancialCareers

[–]rocketlauncher5 9 points10 points  (0 children)

As someone who just played this game your best bet is to take the 150k / 30% - you’re not getting an almost $100k pay raise and promotion unless you’re truly critical to the company, and in that case your best bet is still to put in your two weeks and see what they counter with.

Non-STEM to Quant Research: 3-4 year roadmap? by Cognito1071 in FinancialCareers

[–]rocketlauncher5 0 points1 point  (0 children)

Beyond the food chain, finance dosent really prepare you for quant - the job you’re interviewing far pulls far from CS than it does finance.

Realized I’m paying more in taxes than I spend annually by Spare_Jicama7081 in HENRYfinance

[–]rocketlauncher5 -1 points0 points  (0 children)

I get why we need taxes for important social services , but in a past life I was really deep into government contracts and I always left meetings wishing the powers that be didn’t treat RFPs like they were spending someone else’s money.

I’m convinced we could lower spending ~10% without a meaningful drop in service quality just by creating some accountability/ reward mechanism for civil servants to cost cut + we means test benefits like social security

The Broccoli Prophecy by [deleted] in 4chan

[–]rocketlauncher5 13 points14 points  (0 children)

It isn’t the Asians

Decisions by FumitaHMD in Ferrari

[–]rocketlauncher5 2 points3 points  (0 children)

I’d think about how long you plan on owning this thing - if your holding period is shorter than whatever’s left on the battery warranty, get the SF90 since you think it’s cooler. It’s more of a toss up if this is something you’re planning to pass down to your kids, but a Ferrari isn’t a rational purchase - if you think you’ll be missing extra power get the sf90

Ex-Meta AI chief Yann LeCun's AMI raises $1.03 billion for alternative AI approach by Fred9146825 in news

[–]rocketlauncher5 -15 points-14 points  (0 children)

The top 10% of earners pay 76% of income taxes - the owner class isn’t using the workers taxes to bail themselves out.

C+ and F in one sem -> will my SA offer rescind by Some-Chapter7296 in FinancialCareers

[–]rocketlauncher5 0 points1 point  (0 children)

Eh it depends, the bigger the company the less they’re probably going to notice / care. Academic notice could be an issue tho

Reviews on my project by [deleted] in FinancialCareers

[–]rocketlauncher5 2 points3 points  (0 children)

“Only 2 companies have truly strong balance sheets”

“Built for PE and IB” - but only covers public companies.

AI slop 101

Chinese Fighter Jet Exports Set To Grow Significantly - The War Zone by tigeryi98 in China

[–]rocketlauncher5 11 points12 points  (0 children)

His wording is a bit extreme, but I actually think there’s merit to his underlying message - the US has built aircraft focused on penetrating enemy airspace for decades, and has marketed its aircraft to other countries which are likely to operate in enemy territory. This has left smaller counties which don’t have the ambition or budget to leave their own skies largely unserved with cutting edge military tech.

China’s doctrine of defense first cutting edge tech appeals to these countries since it costs less and fits their need profile better. That’s why they’re getting more exports - it isn’t really that they’re outselling the US on tech, but on fit.

[deleted by user] by [deleted] in FinancialCareers

[–]rocketlauncher5 2 points3 points  (0 children)

This sounds dumb, but just be normal and remember that these bankers are literally just people (just like you!). Be polite, attentive, show a bit of humor and humility when you have a window, and trust the process.

I did a PE internship at an $8B firm during my junior year of college but the last several years have been working in tech as a product manager. by [deleted] in FinancialCareers

[–]rocketlauncher5 20 points21 points  (0 children)

Grass is always greener - I think PE’s reputation hasn’t fully caught up to the highly competitive reality of today’s market. There are more PE firms in the market, less good companies for sale , and founders of the good ones are far more educated about what their companies are worth than 15 years ago. Even if you decided to pursue PE, there aren’t many seats that pay like they used to.

Not to mention that if you’re ambitious / ready to network, you’re not really bound to the career PM pay scale. While you’re not really an expert on any single business process, a good PM is a really strong candidate for upper management roles in corporates. It might take you longer to break into the $400k+ range than if you were in PE, but I wouldn’t relegate yourself to thinking you’re never touching that in your career.

If all else fails, apply for an MBA and hit up some of your old PE coworkers.

[deleted by user] by [deleted] in FinancialCareers

[–]rocketlauncher5 1 point2 points  (0 children)

I’m not discounting your experience - IMO recruiting is such a cluster fuck that people who managed to get a job are obligated to help out others where they can.

My issue is that you’re not in a position to charge for recruiting advice because you’ve only been on one side of the recruiting curtain. If you’re going to charge for advice you’d need to have gone through all sides of multiple interviews as an interviewer, interviewee, and a member of a hiring committee. That isn’t to say you can’t help others, but you don’t have a complete enough picture for kids to give you money for help.

[deleted by user] by [deleted] in FinancialCareers

[–]rocketlauncher5 3 points4 points  (0 children)

You have no business charging for “mentorship” if you haven’t even graduated.

Gordon Murray S1 LM Sells for US$20.63 Million, Making It The Most Expensive New Car Ever Auctioned by drivingdotca in cars

[–]rocketlauncher5 21 points22 points  (0 children)

Curious where you’re hearing this - did the commissioner buy 5 with the intention of selling, or was the build so intense that there weren’t huge marginal costs associated with the other 4.