BIG NEWS: 2014 WSO Compensation Report is OUT!

July 13, 2015, 9:00 pm

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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:

The same as last year. All we ask from you is to take a few minutes to help us continue to build the most comprehensive and accurate database possible. After submitting three total entries (past entries count) to our Company Database (these entries can either be Company Reviews, Interview Insights* and/or Compensation Datapoints), your entries will be reviewed and you will be granted access to the report after 24 hours of submission (assuming we approve your additions).

Please DO NOT send me a private message or ask here if/when you can be given access unless:

1) you have submitted 3 entries and
2) 48 hours have passed from when you submitted your third entry and you still don't have access OR
3) you are a member of the media that would like to cover Wall Street Oasis and unique insights from the report (Patrick@wallstreetoasis.com)

Once you have access, you can go to the link at the top of this post and it will show the 2014 and 2013 reports as flash files. There are no hard copies sent out or e-mailed. Thank You..

• + Add a Company Review
• + Add an Interview Insight
• + Add Compensation Info

Tutorial video:

2014

wso compensation report

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Not enjoying summer internship: What to do?

July 13, 2015, 10:00 pm

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Hi all,

I have somehow been lucky enough to secure an IBDsummer internship at JPM/MS/GS.

I had really thought carefully through my motivations and really thought I would like it. Turns out I find the job lacking stimulation and intellectual challenge. That should be obvious, but I have not realized until I got the offer. I am thinking about pursuing consulting and seeing whether that is for me.

What should I do? Tell the bank that (they are amazing bla bla but..) I don't think it is for me? Or wait and (hopefully) get a return offer, and then turn it down (and leverage that for other interviews)?

I believe they won't give me an offer unless I tell them I want one, why I would not want to piss them off by rejecting an offer I otherwise said I wanted.

Any thoughts?

2015 Summer Analyst IBD

News Sections to Read

July 14, 2015, 1:41 am

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Hi all,

I've been trying to triage the news I read everyday. I have a subscription to FT online and a print subscription to The Economist. While I actually enjoy reading the news, I do not have all the time in the world between my internship and other life matters.

I dedicate a minimum of an hour to reading the news each day, but I don't know which sections to focus on. I'm aiming to enter Capital Markets, any suggestions? (I've been sticking to the Finance and Economics, The world this week, and Briefing for The Economist and Capital Markets, Equities, Lex for FT)

P.S. Yes I know I should get the WSJ, but I'm a poor college student who has to use their earnings for school expenses...I get the FT for free from my school and The Economist was a gift from my fam.

Finance news

Need roommate ASAP for Aug 1 move-in

July 14, 2015, 9:14 am

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Hey guys,

In a bit of a jam here. My proposed roommate unfortunately failed his credit check, etc, etc, and I am looking for a roommate for my apartment starting on August 1. I am a 2nd year analyst at a BB, am hygeinic, and can of course meet up before signing anything.

Rent is roughly 1650-1700, and the apartment is in Midtown by 38 st and 6 ave. Please PM me if you are looking for a year-long lease.

Thanks all.

apartment rent nyc

Wall Street Training Bundle on StackSocial for $99

July 14, 2015, 10:07 am

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Has anyone purchased this? Not sure if it's actually a real sale or just a watered down version of the real thing. Wall Street Training seems to have a good reputation.
https://stacksocial.com/sales/fundamentals-of-wall...

Financial Modelling

wall street training

Excel

Free Industry Specific M&A Reports

July 14, 2015, 11:46 am

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Wanted to share some groups that provide free M&A reports on specific sectors (updated on a quarterly or yearly basis). If you have any others to add to the list, please feel free to do so!

Links are provided below (sometimes you may have to dig a bit to find the specific report for that sector):
Harris Williams & Co. - http://www.harriswilliams.com/industries
FOCUS Bankers - http://www.focusbankers.com/aboutus/sectorexperien...

free M&A reports primer industry overview ibanking investment banking

Duff & Phelps IBD info(Houston)

July 14, 2015, 12:55 pm

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Anyone have any info on D&P IBD in Houston? The culture, salary, etc., specifically for analyst positions

I hear they mostly do energy deals, which makes sense in they're in Houston

*IBD *investment banking

Houston

Energy Houston IB

2015 FT Analyst

IB Liability Management Group

July 14, 2015, 1:27 pm

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I understand this to be advisory for client debt obligations. Does anyone have any detailed information about this specific group? Exit opps and pay from BB?

Liability Management

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I-Banking, PE, or VC Internship?

July 14, 2015, 6:05 pm

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Hey guys, was hoping to get some insight into a problem I'm having. Ultimately, I'm very interested in the PE/VC/GE areas. I'm at a target school with a very good GPA and some decent internship experience thus far (rising junior right now). However, I'm not 100% sure that I want to do investment banking--honestly, the hours just don't seem worth it to me. My problem is that banking seems to be the "safe" route. You do your banking SA, hopefully get the FT offer, do your two years, and then exit into PE, VC, HF, etc. For someone in my shoes though, would this be the smart move since the modeling experience and banking on a resume is a necessary prereq to move into these fields? Or should I try to go for internships in PE, VC, etc.? My only worry is that there is less of a set path to break into these firms for FT, so I may be limiting my options for FT if I go this route instead of banking. Essentially, my worry would be that I could get an internship at a smaller VC shop, but then they don't take on new analysts or anything like that.

Thanks for any opinions you guys have.

*internship *IBD *investment banking *vc *college *University

Don't like NYC, but feel like I have to go there

July 14, 2015, 8:52 pm

≫ Next: NYC IB Analyst Training

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Do you guys really think I need to be in NYC to do ibanking? I'm going to Cornell CAS this fall, and I plan to major in Econ. While I don't mind Ithaca, I absolutely despise NYC. I've gone several times to visit with my family, and I honestly think it's an awful place. (Wall-to-wall people, that are seemingly all tourists, expensive as all hell to live in a 1 BD, 1BR roach invested apartment, never feel comfortable (may sound weird, but I feel almost claustrophobic walking around NYC and just seeing wall of buildings with no end in sight. Stupid, I know, but just how I feel.), etc). Just not my "cup of tea." I no doubt want to do finance, likely ibanking, possibly consulting. I've been looking at places like Charlotte (home town), Boston, Miami, Atlanta, etc. Cities of that caliber. I guess you can define them as smaller cities with big financial scenes, but definitely not NYC. People seem to be saying you have to be in NYC for the exit ops and the experience. Honestly, I could see myself being someone who works at one firm for a long time, and if something were to happen where I needed a new job, it's not like there aren't an abundance of firms that pay street (another point, all of those cities offer NYC pay for lower costs of living) that would hire someone with experience. Also in regards to experience, most, if not all, of those cities offer great urban environments with awesome social scenes that actually allow you to own a car. I just feel like I'm shooting myself in the foot by not going to NYC, but I could honestly see myself being miserable there, especially since I know from previous experience just visiting the city for a few days makes me hate it. I can't imagine living there. Any help? Thanks.

Cornell

Miami

Charlotte

atlanta

nyc

IBanking

NYC IB Analyst Training

July 15, 2015, 2:18 am

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I'll be starting at a BB next year outside of the US and I was wondering when the analyst training in NYC usually starts?

#corporatefinance #IBD training

Houlihan networking from a non-target

July 15, 2015, 8:58 am

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I'm a rising junior hoping to just get a phone call with someone at HL. If I am just looking for a summer analyst position at their LA office, would it be a bad move to reach out to connections in other offices (mostly from LinkedIn mutual connections)? What can I do/ where do I look for names of associates/VPs so I can start mass emailing?

From past posts, I have gathered that their online application only helps for candidates from schools with on campus recruiting. HL sounds like a great place to be, and I would like to get in touch with anyone I can. Any help would be appreciated

#IBD #networking

Why do banks even ask for SAT?

July 15, 2015, 9:02 am

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Monkeys,

I'm currently applying for full time and have reached out to several people to gain insight to the process. I've noticed that Lazard in particular likes to ask for resume in addition to having SAT scores attached. Can someone explain the rationale behind that? I think just like investing, past performance is not indicative of future results. For further color, I got a 1630 (with no prepping whatsoever - 1st try - not proud) but graduated top 2% out of 610 from my high school. I didn't see the importance of the standardize test because I was automatically accepted to one of the top business school in my state. If I had to do it again, of course I would aim for 2000+ by putting in more effort but I'm not going to dwell on the past.

More background: My current resume has two boutique investment banking internship, equity research, and private wealth management roles. GPA is 3.63 and I have a few leadership roles.

My question is how should I spin this if Lazard is my top choice but the SAT is coming back to bite me in the ass.

low sat

banking still possible

First Year Analyst training - PF IB

July 15, 2015, 1:53 pm

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Starting my training in about a month as an Analyst at a BB in NYC in the Public Finance department of the IB

Wanna help me out and tell me what I will be learning? Also, what is the best way to prepare in a month so that the homework and material could be handled easily?

Thanks

*internship *IBD *investment banking *Public finance * Analyst

Prior experience necessary for SA in IB?

July 15, 2015, 5:43 pm

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Hi all,

I posted this in the "Get A Job" section, but I haven't yet received any responses, so I thought to ask here as well.

I'm interested in a summer analyst internship in IB. I am a rising junior studying econ at Georgetown SFS with a good GPA (>3.9). My interest for finance was sparked recently (by taking International Finance last semester) and I think it's something I'd like to make my career.

I've heard conflicting statements online if BB firms are simply looking for smart students or if prior experience is a must-have. If it's the latter, the biggest impediments to my candidacy are that I lack business coursework or experience. I plan on making up business coursework this fall when I am studying abroad and when I return to campus in the spring.

The lack of business experience, however, is worrying. I've been doing a lot of work on my own (BIWS Excel/Powerpoint) and reading how-to valuations books (Rosenbaum/Damodaran). I think I can hold my own once I get into an interview, but getting my foot in the door is the hard part. I'm currently trying to network with alum / recruiters to express interest, but I'm unsure of its efficacy.

Is there anything else I can be doing to prepare myself or express interest?

Thank you for your time.

tl;dr Competitive student at semi-target lacks business coursework/experience; what do?

2016 investment banking

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Canada FT Recruiting

July 15, 2015, 7:22 pm

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Any timelines from any of the big banks or the strong boutiques like GMP or CanGen?

canada

Need advice: Overseas Summer Internship

July 15, 2015, 8:07 pm

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I am currently doing an internship at a big Asian bank. When I got here I did have to fill out a form saying how long I would be interning, etc. I know that for many jobs, employers will call past job references to verify that the person actually worked there. The problem is, everyone here speaks pretty bad English (also, everyone knows me not by my English name, but by my Chinese name).

I was wondering, in my situation what would be the best way to get proof of my internship? Do you think I should get a letter? Also, what are the chances that they will call, and if they do call and have trouble verifying the internship, will they assume I was lying or will they ask me for an explanation?

#Internship

Asia

Healthcare IB position

July 15, 2015, 8:57 pm

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I'm looking at a possible post MBA position with a healthcare banking group in SF. Sounds like an interesting position with a good group. Me, I'm a PhD with experience working in biotech on both sides of the bench, basic research and business development. Just finished my MBA. One thing I'm not sure about is the change of pace from the so called 'horror' stories I hear about banking. I don't know anyone really who works in banking to get their opinion. I guess my goal was/is a venture fund but that's a tough niche to crack. Any thoughts?

healthcare banking

Short Term debt and DCF

July 15, 2015, 9:18 pm

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How should I treat short term debt in a dcf? I know this has been asked, but what changes in this instance is that the company I am valuating only has 50M in short-term debt; no LT debt. I know this isnt included in NWC, but where would I implement this in the model? What im doing is im getting the levered fcf since its only 1 interest expense and using cost of equity for the discount rate. Also, since the company Im valuating is in a growth industry, has been unstable lately, has a beta of 0.4, and only has 1 major competitor (cant use different betas), should I still be using CAPM for CoE? I put the Market return [11%] as my CoE because a 6% discount rate seemed very low.

Dont freak out thinking that I should know this stuff, Im not an analyst or anything and have not taken any finance classes, haha. Im just starting to learn this stuff.

DCF analysis

How to attain the interview

July 16, 2015, 4:36 pm

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As a rising junior, I am shooting for IB for next Summer. What things can I do through my networking to impress these people I'm talking to enough to get them to recommend me to HR or to push my resume? I've talked to some alumni and all the calls are pretty similar: ask them what they like about there job, things I could do to differentiate myself in the recruiting process, and other basic questions like this, then I end the call asking if they can refer me to someone else that they think might be willing to talk to me. My problem is transferring that initial contact into actually having someone vouch for me. Instead of asking to speak to them regarding "their perspective on the IB industry" would it be better to just ask for an informational interview? Any advice is greatly appreciated.

#IBD SA