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Anyone working on Wallstreet?

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Juice.Doctor
Posts: 2791 - Karma: 293
What school, and GPA/ did you know people?
May 18 2014 9:58PM
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Dr.Dealgood
Posts: 2587 - Karma: 1,352
This'll be good.

I know people who do/have. But they're (obviously) not on newschoolers.com.

Internships, strong school, connections, and a killer cocaine connection should help you out.
May 18 2014 10:07PM
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op14
Posts: 1769 - Karma: 4,586
Economics teacher at my High School graduated from the school High School I went too, went to Dartmouth, graduated top 50 of his class at Dartmouth in economics. Worked on Wallstreet for about 10 years living in an apartment with 3 other guys in NYC. He made enough money in that 10 years that he retired and now works for the school without pay.
May 18 2014 10:08PM
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cool_name
Posts: 4295 - Karma: 3,131
ya i sell hotdogs
May 18 2014 10:09PM
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turducken
Posts: 749 - Karma: 601
The referenced post has been removed.


You really love to tell everyone you're going to Harvard, don't you?
May 18 2014 10:31PM
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op14
Posts: 1769 - Karma: 4,586
Paedophile-PopeYou really love to tell everyone you're going to Harvard, don't you?


My theory on Yoski is that he's actually a ski bum that uses shitty wifi at a mcdonalds to post on newschoolers and isn't actually going to Harvard.
May 18 2014 10:33PM
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Peter.
Posts: 23796 - Karma: 13,014
i am actually jordan belfort, former wolf of wall street. ask me anything you need to know
May 18 2014 11:03PM
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ThundaKilla
Posts: 2859 - Karma: 3,781
mmccarthy14My theory on Yoski is that he's actually a ski bum that uses shitty wifi at a mcdonalds to post on newschoolers and isn't actually going to Harvard.


Nah, he's just black and got in on diversity.
May 18 2014 11:05PM
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chickenonabun
Posts: 461 - Karma: 285
mmccarthy14Economics teacher at my High School graduated from the school High School I went too, went to Dartmouth, graduated top 50 of his class at Dartmouth in economics. Worked on Wallstreet for about 10 years living in an apartment with 3 other guys in NYC. He made enough money in that 10 years that he retired and now works for the school without pay.


Why the hell would he work without pay? Unless he made millions upon millions, but then I also don't see why he would be teaching at a high school and not a college or something.
May 18 2014 11:06PM
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SFB
Posts: 8895 - Karma: 26,352
last i heard grapejuice3000 is a big time stockbroker there.
May 18 2014 11:54PM
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Lucas
Posts: 4881 - Karma: 1,575
The referenced post has been removed.


Harvard stuggles
May 19 2014 12:01AM
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Dr.Dealgood
Posts: 2587 - Karma: 1,352
SFBlast i heard grapejuice3000 is a big time stockbroker there.


Big Time, Inc.
May 19 2014 1:31AM
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gotti
Posts: 4269 - Karma: 4,550
My bro has an internship with jp morgan over the summer. He has like all A's in college and yeah he knew people on wallstreet but none of them helped him out.
May 19 2014 1:36AM
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ElMexicano
Posts: 639 - Karma: 400
Met a guy who was going to work on Wall Street, he was an intern and had some interviews and stuff. The last interview in the round of hiring was canceled because hurricane Sandy.

Anyway he said you either need connections or like an 4.0 economics/finance degree from Harvard etc.

His dad knew some guys on Wall Street I guess.
May 19 2014 6:09AM
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ElMexicano
Posts: 639 - Karma: 400
I think either his mom or dad .. one of them i forgot also worked on Wallstreet.
May 19 2014 6:39AM
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integralmgmt
Posts: 476 - Karma: 921
The money's great, but don't expect anything other that that. Investment bankers start out making around $150,000 including bonus, but they have to work 60-80 hour weeks every week. Its not uncommon to not leave the office until 1 AM for weeks at a time. That being said, due to high turnover, promotions come pretty easily, and you can be pulling $500,000 in a few year, $1,000,000 isn't unheard of for VP's around 30.

As for getting into investment banking, its not that hard if you have good grades and a good undergrad business school. I'd look at http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/business and any school in the top 50 (which includes Harvard, NYU, Carnegie Mellon, Georgetown, Boston College), if you go to these schools average grades with internships should be good enough.
May 19 2014 7:08AM
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TijmenDal
Posts: 4849 - Karma: 1,295
Two of my cousins do.
One's an investment banker that works a lot still (probably in the 60-70 hour range). My other cousin is in mergers and acquisitions. He probably does 80-100 hours a week.
No doubt they make shit ton of money, but that wouldn't be the life for me. Half a year back I was in NYC and went out to dinner with the cousin who's in M&A. We went out to get Japanese food, we drank sake all that. It was like 11pm and he went back to the office... Fuck that life.
May 19 2014 7:19AM
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op14
Posts: 1769 - Karma: 4,586
chickenonabunWhy the hell would he work without pay? Unless he made millions upon millions, but then I also don't see why he would be teaching at a high school and not a college or something.


He doesn't say how much he made solely because it's unprofessional to discuss salary/life savings or any kind of money with students. He runs the investment club at school and he told us that he would rather be working 1 on 1 in 20 person classes with teenagers then in massive lectures at a college.
May 19 2014 5:17PM
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TheBigApple
Posts: 1169 - Karma: 488
anyone who aspires to work on wall street deserves to get what is coming to them...

i would prefer to live in like oslo, or denver, or switzerland for 1/4 of the pay
May 19 2014 6:14PM
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GayWolf420
Posts: 37393 - Karma: 120,172
threads, i wanna learn more about the work life. all ive heard is that you're working more than you are actually sleeping, but you make a shitload of money so i guess it evens out.
May 19 2014 6:17PM
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2_fadez
Posts: 7780 - Karma: 4,183
the kids who get connections tend to not be the brightest or best candidates, so as long as you work hard and do well you'll be fine.
also, just realize that the market has been at an all time high for close to a year, so if it crashes, you're gonna lose a lot of money and could lose your job for a stretch.
May 19 2014 6:26PM
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KravtZ
Posts: 6637 - Karma: 2,629
Currently working on wall street at a smaller but pretty well known IB. Covering industrials group right now. Working 60-80 hours a week right now.

Went to a non target but decent school in the NYC area. 3.5 + GPA. Interned at Morgan Stanley in wealth management and them JP Morgan in their corporate banking group. Our CCB group fell apart so no interns got offers. But it was a relatively easy transition to get recruited with my prior experience. By the way grew up lower middle class maybe even lower class single mom who worked 3 jobs. But I did get both my internships through friends parents. If you crush it in school and have the desire its very doable. If you don't live near NYC going to be very hard to get recruited unless you buy your own flights.
May 19 2014 10:36PM
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--ski--
Posts: 1670 - Karma: 817
I work in London, though I do travel to NY/Wall Street 4 or 5 times a year.
May 19 2014 10:45PM
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acualywasdolan
Posts: 1172 - Karma: -747
Ive heard you start off doing hundred hr weeks and shit. Not for me
May 19 2014 11:10PM
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Turd.Ferguson
Posts: 1437 - Karma: 2,713
i bet you if there on this website they didn't get there by hard work but if they do exist on here put two rounds on me
May 19 2014 11:25PM
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Peter.
Posts: 23796 - Karma: 13,014
SpssIve heard you start off doing hundred hr weeks and shit. Not for me


a lot of jobs start off with shitty hours doing a lot worse stuff than sitting in an office. trust me
May 20 2014 2:56AM
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LIL_WAT
Posts: 1900 - Karma: 475
TijmenDalTwo of my cousins do.
One's an investment banker that works a lot still (probably in the 60-70 hour range). My other cousin is in mergers and acquisitions. He probably does 80-100 hours a week.
No doubt they make shit ton of money, but that wouldn't be the life for me. Half a year back I was in NYC and went out to dinner with the cousin who's in M&A. We went out to get Japanese food, we drank sake all that. It was like 11pm and he went back to the office... Fuck that life.


This. The top of the Finance class two years ago at my business school is currently an analyst at Goldman Sachs. According to his bro, when he gets really busy at work his hourly rate works out at less than minimum wage due to the ridiculous hours. It's a screwed up industry in that way, last year there was even a 21yo intern at BAML who died from exhaustion while doing an internship in the London branch.
May 20 2014 5:32AM
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--ski--
Posts: 1670 - Karma: 817
LIL_WATThis. The top of the Finance class two years ago at my business school is currently an analyst at Goldman Sachs. According to his bro, when he gets really busy at work his hourly rate works out at less than minimum wage due to the ridiculous hours. It's a screwed up industry in that way, last year there was even a 21yo intern at BAML who died from exhaustion while doing an internship in the London branch.


Sure. But that's NZ. Analyst/associate positions in London and New York, which your friends brother (I think I know him) will eventually move to, get paid a lot more - and have huge potential to climb the ladder.
May 20 2014 5:59AM
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Laurent.
Posts: 10056 - Karma: 25,313
TijmenDalMy other cousin is in mergers and acquisitions.


Is your cousin Bateman?

May 20 2014 7:34AM
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whoa-dere
Posts: 10596 - Karma: 7,103
Is it possible for engineering majors to do ib or is that unheard of?
May 20 2014 7:35AM
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--ski--
Posts: 1670 - Karma: 817
whoa-dereIs it possible for engineering majors to do ib or is that unheard of?


No, it's not unheard of. Having a background in finance makes it easier, an engineering degree is still possible. Firstly, an engineering degree shows that you're not an idiot; it requires a somewhat higher level of intelligence or greater work ethic. Secondly, you're math, quantitative skills and eye for detail are advantageous: You can crunch numbers - accurately. With those skills a lot of engineers who break into finance usually end up in prop trading, risk or hedge funds.
May 20 2014 8:25AM
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Juice.Doctor
Posts: 2791 - Karma: 293
5 years later bump. I ended up working on wall street doing M&A at an elite boutique bank in NYC, then was at a hedge fund

What I gained:
- solid career experience, think I can go into any business role now given my background. Opened a ton of options
- good training on how finance works and how to analyze stuff/companies - can build excel models from scratch that give you answers for valuation, etc.
- skills to talk to F500 CEOs / management about their businesses and to quickly understand how things work, developed a solid "business acumen"

What I lost:
- my health. working 100 hrs a week really takes a toll on your mind/body. No one is meant to look at a computer screen for 15+ hrs a day 6/7 days a week
- friends in the skiing industry, lost touch with a few close friends who moved out to CO and are absolutely killing it. sometimes I regret not choosing that life
- last year was my first year not skiing since I was 9 years old. And for a few years, I would ski once a season because I didn't have time (still throwing cork 7s and shit but my skiing game has gone backwards now)

I ended up quitting my job from being burnt out. I'm not sure what's next for me now, but I will be going back to my roots. will definitely be looking for a job close to a mountain, and I'm alright with taking a 75% pay cut.

realize that life has its balances. try to maximize your time doing something you absolutely love, and you will be happier than 90% of people, in any industry, especially wall street
Jan 12 2019 11:36AM
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TRVP_ANGEL
Posts: 12506 - Karma: 116,130
Juice.Doctor5 years later bump. I ended up working on wall street doing M&A at an elite boutique bank in NYC, then was at a hedge fund

What I gained:
- solid career experience, think I can go into any business role now given my background. Opened a ton of options
- good training on how finance works and how to analyze stuff/companies - can build excel models from scratch that give you answers for valuation, etc.
- skills to talk to F500 CEOs / management about their businesses and to quickly understand how things work, developed a solid "business acumen"

What I lost:
- my health. working 100 hrs a week really takes a toll on your mind/body. No one is meant to look at a computer screen for 15+ hrs a day 6/7 days a week
- friends in the skiing industry, lost touch with a few close friends who moved out to CO and are absolutely killing it. sometimes I regret not choosing that life
- last year was my first year not skiing since I was 9 years old. And for a few years, I would ski once a season because I didn't have time (still throwing cork 7s and shit but my skiing game has gone backwards now)

I ended up quitting my job from being burnt out. I'm not sure what's next for me now, but I will be going back to my roots. will definitely be looking for a job close to a mountain, and I'm alright with taking a 75% pay cut.

realize that life has its balances. try to maximize your time doing something you absolutely love, and you will be happier than 90% of people, in any industry, especially wall street


Appreciate the time you took to sign-on and write this. It's not often that older members will remember this site, let alone remember their password. I have some questions if you don't mind me asking

On the business side, is quantitative/computer engineering taking over the industry? I'm going to hazard a guess and say that you grew up on traditional equity/excel analysis side which isn't as useful in certain HFs. Is it still possible to get in the industry at a later age (more on the computer side) or is it a young mans game?

Did you live unhealthy over the last 5 years (weight gain, etc)? You were paid more than 99.9% of what NSers make, did that money create any lifestyle changes or did you run up the savings/investment accounts? Did you miss skiing or did it grow more distant over time? Did you wish that you skiied out your body first before deep diving into the finance industry?
Jan 12 2019 1:54PM
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Craigskis
Posts: 6650 - Karma: 1,645
I don't work on wallstreet, though I'm a self-directed financial nerd.

I don't use algos. I can read technicals, with that said, do not rely on technicals alone, follow trends.

My goal is to be a selfmade millionare in under 5 years.

I blew up my account 3 months ago, when the markets started tanking, I was at a 70% lose one day.

My favourite chart out of the 3 posted is the annual chart as it looks like a middle finger. I started with $10,000 in 2009, and started day/swing trading on my own in 2014.
Monthly
Quarterly
Annually
Jan 12 2019 2:47PM
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