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I admit - Greed is taking over

 
#1 I admit - Greed is taking over
11/06/2007 13:47

Jamie

I've ended up as an IT Consultant (1st year).

Problem is - I want more money. I'm working 8am-10pm and most of Sunday out of choice.. That's how hard I expect to work at my age. Problem is - working this hard only gets you a few small cash awards here.

So, I'm considered moving to IB at the end of my first year. How do people think I should justify my year as an IT Consultant? I havn't worked on any FSI projects so apart from the 'core consulting skills'..

I'm still young and am happy to take an entry position (expect nothing higher) so will they see me as good value in that i've already had a year of training / experience - or will they see me as someone who can't make up their mind!?

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#2 RE: I admit - Greed is taking over
11/06/2007 14:43

OB to Jamie (#1)

That's not greed - that's putting a sensible price on your free time.

What sort of role are you looking for in IB? Do you have any coding skills, esp. VBA? In which case they'll pigeon hold you as a spreadsheet developer / IT systems person.

Pays well - but not that massive amounts that stockbrokers get.

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#3 RE: I admit - Greed is taking over
11/06/2007 14:54

Jamie to OB (#2)

Sorry, i should have made it clear - i'd be looking for a front office role. I think given my degree (1st Class, LSE, Geography!) with only a few economic modules I'd have to go for sales?

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#4 RE: I admit - Greed is taking over
11/06/2007 14:56

anon to Jamie (#3)

Not necessarily,could potentially look at IBD too. Don't underestimate how hard sales is by the way.

I'm on the same boat and doing the same thing incidentally, just gonna pply for next years grad intake and hopefully my experience will help me answer the HR q's a bit easier (tell me about a time etc.)

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#5 RE: I admit - Greed is taking over
11/06/2007 15:06

Jamie to anon (#4)

By IBD I assume you mean Structuring or Research? I don't think my maths is quick enough for trading and I already mentioned sales..

Good to know I'm not alone!!

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#6 RE: I admit - Greed is taking over
11/06/2007 15:43

anon to Jamie (#5)

by IBD i'm referring to M&A specifically, you might get in cause they will take on non-maths grads.

S&T refers to the markets and for Trading, yeah you'd need to be fairly numerical which is exactly the reason i'mnot going for that!

I think to be honest, in this day and age with the current move towards derivative/structured products in banks which require a good level of numeracy, you should really do what you can to try and get involved in derivative sales or structured product sales.

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#7 RE: I admit - Greed is taking over
11/06/2007 16:40

Jamie to anon (#6)

Hi, so are you just applying for M&A roles? Places like Goldmans, Lzard etc..?

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#8 RE: I admit - Greed is taking over
11/06/2007 17:07

anon to Jamie (#7)

I'm actually applying for M&A at a few places and sales at a few others. They're very different roles but i want them for the same reasons if that makes sense. I enjoy finance but would like that client contact you don't get as a trader/back office/middle office guy and sales and M&A afford you that contact albeit not at the beginning of your career.

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#9 RE: I admit - Greed is taking over
11/06/2007 17:18

anon to Jamie (#7)

I'm actually applying for M&A at a few places and sales at a few others. They're very different roles but i want them for the same reasons if that makes sense. I enjoy finance but would like that client contact you don't get as a trader/back office/middle office guy and sales and M&A afford you that contact albeit not at the beginning of your career.

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#10 RE: I admit - Greed is taking over
11/06/2007 18:26

anon2 to anon (#9)

Jamie,

I am in the same boat; however, still in school and due to start consulting in September. Are you guys applying through the grad schemes or going through recruiters. As for your doubts, I do not think they will see you as someone who cannot make up his mind. I believe a lot of people make this move simply due to financial rewards.

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#11 RE: I admit - Greed is taking over
12/06/2007 08:25

anon to anon2 (#10)

I'll be applying for grad roles for next years intake. It would tend to be ACA's brought in as A2's in banking and MBA's as associates. I don't mind though.

For the record, a lot of people switch grad schemes, important thing is just to make clear why you tried this and found it wasn't for you, there really has to be more than money to it as a reason or they'll see right through you.

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