Monday @Mentions July 13th 2015

July 13, 2015, 8:45 am

≫ Next: Finally a Gas Trader

≪ Previous: WSO Investment Banking Resume Template for College Students Released to the Public!

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Upcoming webinars:

Webinar: Signs you're getting burned out (and what to do about it) -- 7pm ET, 7/13/15
Webinar: How to start preparing for your Summer Internship... 1 year early -- 830pm ET, 7/14/15
http://www.wallstreetoasis.com/event/webinar-the-star-of-acing-your-interview-preparing-for-fitbehavioral-interviews-5pm-et-71515
Webinar: How to apply & become a Rhodes Scholar, and how this scholarship opens doors to a career in finance -- 7pm ET, 7/16/15
How I transitioned into PE and prepared for my PE interviews -- 930pm ET, 7/19/15

Upcoming webinar rewinds:

Interested in Wall Street, but don't want IB or S&T? There's a whole world of other divisions looking for you! 7/13/2015
It's possible: How I got the Hedge Fund Analyst job, 7/14/2015
Setting yourself up for success in Corporate Finance, 7/15/2015
Lessons learned from ditching the corporate life, 10 years later, 7/17/2015
Recruiting and Working for McKinsey in LatAm, 7/18/2015

Posts of the Week:

Some more truth about BB Ops and how I got out by @wannabeconsultant999. 18 SB's.

What does it take to be a competent investment analyst? by @Stalagmite. 6 SB's.

Discussion Topics of the Week:

What exactly happened to all the fired analysts/bankers in 2008? by @ib_457. 23 comments and counting.

The Fight Against Uber Continues by @steelers33. 49 comments and counting.

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Finally a Gas Trader

July 13, 2015, 11:12 am

≫ Next: The Cause and Future of a Massive Chinese Sell-Off

≪ Previous: Monday @Mentions July 13th 2015

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You can see my AMA post (currently ongoing) here.

I graduated in May of 2012, from a non-target school with a below average GPA in a major that's quantitative but enough for a direct opportunity.

I graduated with little to no networking, no jobs lined up, etc., but quickly got on to a PE firm being a summer analyst. This came about at small shop that the principals knew of my parents. It materialized literally overnight, and I actually realized I had just secured something huge. I took full advantage of it, however, it was just that---an internship. The internship came with no full time job opportunity, as that was established in the beginning of it.

It gave me a start, as as the principal/boss said, that's all people need. From there, I joined two majors in the O&G departments(one in the BO and one in the MO) for a combined 9 months before a utility leveraged a scheduler role to me.

The Cause and Future of a Massive Chinese Sell-Off

July 13, 2015, 6:14 pm

≫ Next: Resume Review - trying to make the jump from WM to ER

≪ Previous: Finally a Gas Trader

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In a period shorter than a month, the Chinese market has lost over 3.6 trillion in value, which is greater than the GDP of France. Many see this as mimicking the 1929 U.S. stock market crash. Also, this plummeting of equities is beginning to seep into surrounding Asian countries. The cause of this sell off? Simply, millions of average Chinese investor dumped lent funds into the market. The prices, correlating with this buying spree, were then severely over inflated. What happened next can easily be explained as a cycle of panic caused by leverage investing.

The equity markets fell, the Chinese citizens sold off shares to cover these losses on lent money, and the cycle continued on as people panicked. At its peak the extent of leveraged investing amount was around seven hundred billion dollars. The stock market in China contains 80% percent "retail investors". The U.S.? Around 54%. The massive effect is quite obvious when taking these percentages into consideration. Why are these percentages so vastly different? Last year, the Chinese government encouraged the "Chinese Dream" of a society wealthy and prosperous. Part of this dream was to encourage all citizens to be involved with stock market. "We must deepen economic system reform by centering on the decisive role of the market in allocating resources...." -- President Xi Jinping

Resume Review - trying to make the jump from WM to ER

July 13, 2015, 7:24 pm

≫ Next: BIG NEWS: 2014 WSO Compensation Report is OUT!

≪ Previous: The Cause and Future of a Massive Chinese Sell-Off

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I'm currently working in an Equity Research capacity in WM, am a CFA L3 candidate, and I'm currently taking the Full Training the Street Course so I have a 'hard credential' aside just from what I do day to day.

I'm asking for help because I have been applying to entry-level/junior ER positions and other positions at BBs with an ER tilt (i.e. Sales w/ equity idea generation...) and have only received one interview from a BB but that was months ago for their Third Party Distribution group which I did not get an offer for.

BIG NEWS: 2014 WSO Compensation Report is OUT!

July 13, 2015, 9:00 pm

≫ Next: Not enjoying summer internship: What to do?

≪ Previous: Resume Review - trying to make the jump from WM to ER

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Dear WSO Community,

I'm pleased to announce the release of the 2014 WSO Compensation Report! We had another great year with even MORE entries than last year (over 5,000)! It took many months of hard work and finally, it's here ...and it's still free :-)

Yes, that's right, access to the FULL 155 page 2014 WSO Compensation Report is 100% free. (up from 108 pages last year). This report contains thousands of data points across investment banking, private equity, hedge funds and management consulting.

The report cuts the data numerous ways including division, city, AUM and company type and can help you know if you are getting paid enough. In the 2014 version, we even have data on target vs. non-target schools, race, GPA and major. Where else can you find interesting insights like that?

Or if you are an employer, this report will give you an idea of what range you should be paying your employees.

DOWNLOAD A FREE PREVIEW OF 2013 HERE TO GET AN IDEA OF WHAT IS INCLUDED

Here's how you get access to the full 155 page report:

Not enjoying summer internship: What to do?

July 13, 2015, 10:00 pm

≫ Next: Rewind - It's possible: How I got the Hedge Fund Analyst job + Q&A

≪ Previous: BIG NEWS: 2014 WSO Compensation Report is OUT!

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Hi all,

Rewind - It's possible: How I got the Hedge Fund Analyst job + Q&A

July 14, 2015, 5:00 am

≫ Next: The Best Success Stories on WSO

≪ Previous: Not enjoying summer internship: What to do?

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In case you missed our May 21st webinar entitled It's possible: How I got the Hedge Fund Analyst job, have no fear. The full recording of the webinar can be found below (free for only 24 hours and then it goes into our video library). Do you want to a 1 on 1 mentoring session with John? Click below:

SIGN UP WITH JOHN

All rewinds will be available everyday at 8am ET.

And, as always, if you want to sign up to hear about upcoming webinars before they happen, sign up inside the post...

The Best Success Stories on WSO

July 14, 2015, 11:00 am

≫ Next: AMA: Gas Scheduler to Gas Trader

≪ Previous: Rewind - It's possible: How I got the Hedge Fund Analyst job + Q&A

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Patrick and I (among others) LOVE hearing your guys' success stories, so we said "hey why not make a post of the top ranked (most silver bananas) stories?!" Well... thanks to my whiz kid content intern @Lucas_M, here they are! Click here to post your own success story, we'd love to hear it! (Make sure to post in the "Success Story" Forum).

1. How I got into Banking
posted by @CompBanker

Try to get relevant work experience. As a Computer major, I had a number of internship in "computer" roles, but nothing in finance. I found a boutique bank that was willing to take me onboard part time during the semester. Not many people are willing to work during a semester for free. I set up my work hours around my classes and agreed to come in on the weekends as well. All in all my internship eats about 40ish hours a week.

I think this internship was really the thing that made it possible for me to secure interviews. By working the equivalent of a 9 - 5, while simultaneously taking a full course load, I was able to prove to banks that I could handle the hours. Not to mention I proved to myself that I was capable.

- silver bananas: a lot

2. Finally an offer! A story of persistence
posted by @brutalglide

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AMA: Gas Scheduler to Gas Trader

July 14, 2015, 11:57 am

≫ Next: Apple Commands 92% of Profits in the Smartphone Market

≪ Previous: The Best Success Stories on WSO

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I embark on my journey as a Trader in two weeks, as I just gave my two week notice from a shop in Houston to the East Coast. Going from a NG Scheduler to a NG Trader/Scheduler, still young (3-ish years since UG).

You can read more about my background here: Finally a Gas Trader

Apple Commands 92% of Profits in the Smartphone Market

July 14, 2015, 1:57 pm

≫ Next: Best Real Estate Specific MBA programs

≪ Previous: AMA: Gas Scheduler to Gas Trader

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Apple has been rapidly growing since the inception of the first iPhone. Although the company commands a higher price point, consumers have shown propensity to increase their willingness to pay. Here is a summary of Apple's dominance from the WSJ.

Best Real Estate Specific MBA programs

July 14, 2015, 6:18 pm

≫ Next: Exiting Big Four (Audit) after 5 years and entering FP&A - Ask me anything

≪ Previous: Apple Commands 92% of Profits in the Smartphone Market

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This gets discussed periodically but wanted to give the conversation a bump for those looking to concentrate in Real Estate upon entering business school....

Exiting Big Four (Audit) after 5 years and entering FP&A - Ask me anything

July 14, 2015, 7:29 pm

≫ Next: WSO Hedge Fund Interview Prep Package in the Works!

≪ Previous: Best Real Estate Specific MBA programs

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Spent the past 5 years working for a B4 firm in the Assurance practice and am taking a FP&A Director role within industry in the coming weeks. Happy to answer any questions.

WSO Hedge Fund Interview Prep Package in the Works!

July 14, 2015, 9:00 pm

≫ Next: Paypal split from eBay

≪ Previous: Exiting Big Four (Audit) after 5 years and entering FP&A - Ask me anything

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***NOTE: I am willing to pay cash AND give you a free copy of the package if one of your cases or pitches ends up in the actual guide.*** Please send me an e-mail (Patrick@wallstreetoasis.com) explaining the case or pitch (long vs. short or type of case study) and I'll tell you more.

Paypal split from eBay

July 14, 2015, 10:00 pm

≫ Next: Why is everyone obsessed with NYC?

≪ Previous: WSO Hedge Fund Interview Prep Package in the Works!

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The split from ebay is official this Friday. Paypal has 5mm in cash, they have a wide net of companies under them (Xoom for example), solid revenue growth and a huge % of market share.

How do you think they will do independently?

Why is everyone obsessed with NYC?

July 15, 2015, 1:00 am

≫ Next: Rewind - Setting yourself up for success in Corporate Finance + Q&A

≪ Previous: Paypal split from eBay

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It seems like it's NYC or nothing for many of you, and anyone who goes anywhere else must have had "issues" or "went to a non-target." I'm just curious because I went to a target (ivy-caliber private), but decided to work at an IB at a big bank in the home state of my alma mater. I make the same as my friends in NYC, and my cost of living is a lot lower. Obviously, they have better exit opps, but is it really worth it to live in NYC with the just insane cost of living? There are great cities all over the country (Houston, Charlotte, SLC, Atlanta, etc.

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Rewind - Setting yourself up for success in Corporate Finance + Q&A

July 15, 2015, 5:00 am

≫ Next: WSO Caption Contest - July 15th... Collect Silver Bananas and Win a Free WSO T-Shirt

≪ Previous: Why is everyone obsessed with NYC?

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In case you missed our June 15th webinar entitled Setting yourself up for success in corporate finance, have no fear. The full recording of the webinar can be found below (free for only 24 hours when it goes into our video library). Do you want to a 1 on 1 mentoring session with Arshan? Click below:

SIGN UP WITH ARSHAN

All rewinds will be available everyday at 8am ET.

And, as always, if you want to sign up to hear about upcoming webinars before they happen, sign up inside the post...

WSO Caption Contest - July 15th... Collect Silver Bananas and Win a Free WSO T-Shirt

July 15, 2015, 10:01 am

≫ Next: PE Recruiting - Soft Skills

≪ Previous: Rewind - Setting yourself up for success in Corporate Finance + Q&A

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WSO Caption Contests are back! You guys know the drill, all you have to do is leave a comment in this post with a caption you think is most fitting for the cartoon posted below. The winner will be determined by the community based on the number of Silver Bananas awarded to each comment. In the event of a tie, the admins of the site will decide the winner or send out multiple free shirts if we can't decide. Wall Street jokes welcomed and encouraged!

PE Recruiting - Soft Skills

July 15, 2015, 2:14 pm

≫ Next: Webinar: How to apply & become a Rhodes Scholar, and how this scholarship opens doors to a career in finance -- 7pm ET, 7/16/15

≪ Previous: WSO Caption Contest - July 15th... Collect Silver Bananas and Win a Free WSO T-Shirt

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Been trying to prepare for the exit to the buyside. Given PE recruiting is substantially more competitive than IB, I've been reading a bit that you need to be able to impress with areas outside of finance as well to stand out / be competitive.

My problem is that working 100 hour weeks has driven me to the point where I am really not familiar with anything that's going on in the outside world, and i really have no time to catch up / be interesting. I am working 7 days a week and the social skills and hobbies I use to have are now pretty much gone. I am a beast at finance, companies, growth expansion, etc., but really hard to be knowledgeable/current in anything else.

So kind of a pathetic question, but what do other analysts do to stay interesting when consistently working 100+ hour weeks?

Webinar: How to apply & become a Rhodes Scholar, and how this scholarship opens doors to a career in finance -- 7pm ET, 7/16/15

July 15, 2015, 4:51 pm

≫ Next: Good Briefcase for Starting Out

≪ Previous: PE Recruiting - Soft Skills

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WEBINAR DESCRIPTION

On Thursday July 16th 7pm ET Wall Street Mentor Dr Steven Mo will be hosting a webinar entitled "How to apply & become a Rhodes Scholar, and how this scholarship opens doors to a career in finance", with a q&a session to follow.

Topics he will cover: Famous Rhodes Scholars in the finance & consulting industries / Rhodes Scholarship application process / How to build a Rhodes Scholar resume / From Oxford to Wall street & Consulting / Q&A

Steven's bio: Healthcare IT Director at a Fortune 20 company, Entrepreneur, Rhodes Scholar, and ex-BCG consultant with a Ph.D. in Biomedical Engineering (Oxford) and a B.S. in Biology (MIT); former interviewer at BCG, especially target candidates with PhD, JD, and/or MD background.

WATCH HERE

If you missed the webinar, it will be available on the homepage for 24 hours (in 1 month, on August 16th at 8am ET after the initial presentation), before going into the WSO Video Library.

When: 

July 16, 2015 - 7:00am to 8:00am

Event type: 

WSO Webinar

Good Briefcase for Starting Out

July 15, 2015, 10:00 pm

≫ Next: 2016 Full-time IB Recruiting Timeline Megathread

≪ Previous: Webinar: How to apply & become a Rhodes Scholar, and how this scholarship opens doors to a career in finance -- 7pm ET, 7/16/15

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Starting in consulting in the fall - looking for a solid leather briefcase/messenger bag that is under $500, that is not only durable for frequent travel, but also some aesthetically appealing. Feel free to leave any suggestions - any help is appreciated as I'm on a budget.