This is for all those souls who are struggling to secure their dream jobs!

Morgan Stanley
Elite
Goldman Sachs
#1

DAVID TEPPER

A first job as a credit analyst in Pittsburgh eventually took him to Goldman Sachs in the 1980s heyday of junk bond trading, but when he was repeatedly passed over for partnership at the elite investment bank there he walked out to set up on his own. Mr Tepper is closing out one of the most profitable years any hedge fund has ever had. His fund is up $7bn (£4.4bn), and he’ll be taking a reported $2.5bn of that home personally.

PAOLO PELLGRINI

At Lazard, the pace was brutal. Pellegrini often worked 14- hour days, turning off the overhead lights in the office at night and blasting Mozart and Beethoven on his stereo. Yet Pellegrini was not a natural investment banker. In 1994, the fees he was generating dropped as he failed to rope in clients. The next year, Pellegrini says, Lazard fired him. Paolo Pellegrini has a nose for trouble. He saw it in rising housing prices in early 2006, when he cranked through decades of home price data and concluded the bubble was poised to burst. Pellegrini then helped engineer a massive bet against subprime mortgages that catapulted Paulson & Co. hedge funds to 2007 gains of as much as 590 percent – and firmwide profits of more than $3.5 billion. Pellegrini, 52, pocketed tens of millions of dollars. PSQR’s gain from April 15, 2008, through December was 52.4 percent, according to a fund document.

MESSAGE: The HR department attempts to make recruiting a painstaking experience while adopting a so called scientific approach. Lets be honest, they are not fooling anyone, the element of luck remians one of the biggest factors influencing your application. The examples above highlights the kind of potential they fail to recognise. Try to work hard at finding an experience that will lead them to things that they like. I personally think IB’s like Morgan Stanley and Goldman Sachs are breeding grounds for future private equity professionals.

#2

damn i feel better already

#3

haha … I was just trying to lighten the mood … given the fact it is Christmas!!

#4

it’s just so hard to get in, I do recruitment myself and look through CVs…when I have 30 application for 1 job,… really it is not the most qualified that gets it… so many factors comes into play…I hate to admit this…

if I like the person’s name or not … male or female, where he studied, down to how long he takes to reply his email or how he sounds over the phone…

#5

@ what-a-banker

Firstly, I am glad you enjoyed the post. In all honestly, I have absolutely no interest in Investment Banks and the subsequent interviews and AC’s I’ve intended, reaffirm my belief that Investment Banks just don’t suffice my intellectual appetite. My disdain for the HR staff can’t be stressed in strong enough words. In all honesty, the emphasis on “Teamwork”, “Communication” and other minuscule skills baffles me beyond belief. At the end of the day, what matters is one ability to read and understand the markets. My interest solely lies in my abilities as an investor and while the skill mentioned above play a part, they are not and will not be the Holy Grail of my career.

I think it would be a fallacy for me to conceive that I have the tools required to start my own Hedge Fund at this present moment of time. However, I would stress that is the state at the moment. Hopefully, with my hard work and endeavour maybe one day it is a possibility given the time is right. Currently, I am in the process of procuring a place for a Masters Programme from a particular Ivy League university in the States. The course will push me closer towards my ultimate goal. While working for a Bank will help, it does not best serve the career path I prefer.

#6

Ein VS Buff; have you secured anything with any of the banks? I like your posts too and definitely think that you know a lot about the markets. One thing I did not particularly like though; and that is: at times you were sharing some key information/knowledge. For some of us to make a living; information-arbitrage is very important. I am not telling you off though lol. Rather than working for an investment bank; have you thought about working for a buy-side fund?

#7

@AJ

Thanks for the positive feedback! I believe I did note your initial advice regarding my propensity to share conversation with regards to ETF’s in China. I think your spot on and I need to curb my enthusiasm, which at times gets the better of me. It is imperative I learn how to play my cards close to my chest. However, I think I should share with you the motives behind me sharing information. My objective was to gauge the responses from the people in this forum some of who will hopefully establish successful careers in the financial industry (sell side). “Self Fulfilling Prophecy” is the stage, where all hedge fund managers endeavour to reach and something that should be tested when possible.

@what-a-banker

Good luck to you too mate!!! I I assure you that I am quiet a distance away from being in a position to have any substantial impact on RBS.

I believe the person you need to talk about that is Paulson who has made unprecedented gains from shorting RBS in 2008 . However, he has closed his position since. If, I am not mistaken he made $65 million in 30 minutes back in 2008, from shorting RBS.