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This is how good you’ll have to be to compete with the best students in Europe, the Middle East and Africa for a job as an analyst
Ever year, the CFA Institute runs the, ‘CFA Institute Investment Research Challenge (IRC)’. An annual competition for university students across the world, it requires students who enter to work in university-based teams and put together a presentation on a company in the style of an analyst working in an investment bank or fund management firm. [...]
Goldman has 12,000 VPs and only promotes 261 MDs annually. There appears to be a less than 1% chance of getting promoted
The Greg Smith debacle has thrown up an interesting and potentially depressing statistic: Lloyd Blankfein wrote a memo pointing out that Smith (allegedly a Vice President or VP) was only one of 12,000 vice presidents at the bank. Goldman employed 33,000 people at the end of 2011, suggesting a massive 40% of its staff are VPs. [...]
Business area by business area, these are the global market leaders. These are the bit players
We are continuing to mine the trove of information that is the new banking report from JPMorgan. Included within it are the following excellent tables on the expected market shares of each bank globally by product area in 2013 (note that JPMorgan itself is absent). Needless to say, the industry is dominated by a few [...]
Goldman’s head of US EMEA equity derivatives has left AND written a scathing article about the firm’s unscrupulousness
This is a first. Usually, when someone leaves Goldman Sachs – or any bank – they sign a compromise agreement ensuring their silence upon pain of forfeiting their stock. Not Greg Smith, former head of US EMEA equity derivatives at Goldman in London. Smith has written a long article, just published on the New York [...]
GUEST COMMENT: Four habits of unscrupulous recruiters
It’s almost a rite of passage for a banker to fall foul of a recruiter. I’d even go so far as to say that you haven’t really cut your teeth in the City if this hasn’t happened to you yet. Sure, there are a few exemplary recruiters out there who genuinely care about their candidates, [...]
GUEST COMMENT: Three questions M&A interviewers often ask graduates to try confusing them
We’ve already looked at the three questions which will determine your success in an M&A interview, but what about the questions interviewers will ask to try throwing you off balance? Be aware, that these often come in the second half of an interview: after you’ve answered the first three questions and are feeling confident about [...]
Do you genuinely want to get a new job? Try this, this and this
If you, like our guest columnist last week, have been sending out applications and CVs and getting no response, you may be feeling annoyed. Worse: you may be feeling apathetic. Don’t. And don’t be. As John Lees, career strategist and author of How to Get a Job You’ll Love, explains in this particular Harvard Business [...]
There are opportunities at the African Development Bank
Africa is really becoming a land of opportunity: six out of ten of the world’s fastest growing economies are in Sub-Saharan Africa. Foreign banks from West and East are jostling with local institutions to exploit this vast potential, but they are not the only ones hiring. It is a time of expansion also for the [...]
What it’s honestly like to be a junior M&A banker, as explained by a junior M&A banker’s girlfriend
As part of its excellent series on careers in financial services, the Guardian has spoken to the girlfriend of someone who has recently become an analyst (ie. Junior banker in M&A). Needless to say, their life together has changed substantially. She seems more perplexed than annoyed, but her insights are fairly spot on. If you’re [...]
GUEST COMMENT: The three things you should never do whilst networking
As you will know if you have read much at all on the best method of finding a new job, networking is invaluable. A large majority of new roles come not from recruiters, not from online applications, but from candidates’ networks. To the uninitiated, networking may seem little more than chatting with friends and mentioning [...]
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