| Topic Name: |
real rankings |
| Message Name: |
Unfortunately very mistaken |
| Date Posted: |
11/06/2000 |
| In Reply To: |
To the last poster,
I liked your tone, it was respective, I appreciate that. I'll attempt to respond honestly, and without making any comments that some might find insulting.
The truth is that in most good firms they hire people that will contribute to them in different ways. My contribution would not be the same as somebody else's who might be really fast and always dead on with his computer analysis.
I won't be busting my butt as most others from even the ivy league would have to, and especially as someone from outside of it would be expected to. These people MUST pay their dues (i.e., 100 hour work weeks, excessive travelling, etc.) For someone like me, they like to send our type to charm over would be clients and current clients of the firm. Many of these people might be friends of my family, or they would have heard of me.
This phenomena occurs in most of the corporate world, but is extremely ubiquitous in the I-banking world. These firms also like to hire olympic athletes and children of famous politicians, not always because of "the dollars and cents", and the minute contributions we would make daliy, but for those intangibles that we offer.
This is analagous to many CEO's coming into the office three hours a week, who just shmooze with other top exec's and play golf all day long.
It's something they don't teach you about in undergrad, but I think MBA's understand this concept better.
So, that's pretty much it. I acknowledge it's completely unfair, but it's the truth. So call me stupid, call me a loser who benefits from an unfair world -- but don't call me a chump (this is to the other guy) -- b/c I'll never have to bust my butt like you, I'll always make more money than you, and I'll never have to work for a crummy firm like lehman.
Toodles,
DC |
| Message: |
To DC,
You really have no concept of what you're talking about. Do you seriously entertain the idea of a bank sending a first year analyst to shmooze clients? MDs are around to be relational managers, not first year analysts. You'll be put to work in a cube running pitchbooks and they may let you build the model if you can prove you're more intelligent than you sound on this board. There is no way anyone of stature or importance in the business world is going to decide that a pitch is worthwhile if a first year analyst is the one presenting it to them. Even if your family has money that doesn't earn you respect or credibility. Your fellow students may be impressed by your lineage, but the board of directors will need alot more than that to make them commit to a deal. I hope you're only a freshman or younger, because otherwise you'll have to do alot of learning in the real world instead of at your sheltered school.
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