Sunday, April 01, 2007

Investment Banking

Yes, I do not usually do this but I just have to. I just have to refer you all to this hilarious blog by an anonymous I-banker. He is just amazing and it is a wonderful piece on what kind of shit is happening in the high flying banking industry. Yeah, all of them are not so but I daresay many of them probably are.
Just amazing. Read the story of the I-Banker

On another note, busy with recruiting interviews so kind of slow on the blogging side. Having said that learning a lot about what the full time recruiting is all about. Will write more on that as soon as I finish this recruiting assignment that I have to submit by tomorrow.


Michael & Stephanie Penland said...

From my experience many people see the cynical side to their business but can also go on and on about their professions many merits – or at least enough to justify their paycheck. In high tech for example, we can rant forever about how half-baked products are shipped too quickly due to sales/competitive threats. QA is labels simply a filter so that large piles of poop don’t slip though and Technical Support only provides bandages and workarounds when the hasty product inevitably breaks. Oh the flip side, products are shipped aggressively in an asynchronous market where being the first with a feature, fixing a bug, or playing catch-up can make or break a market share foothold. In those cases QA and Technical Support can be heroes catching bugs and identifying issues quickly enough to where something can be done, minimizing customer impact and building stronger relationships in the process.

I really liked this quote – it’s crazy! :-)
“Investment banking is the most important job in the transaction process. We are there to hold the client’s hand through every step of the transaction and to make it all happen. We’re there to think of problems they haven’t thought of and before they can think of them themselves, come up with solutions. We’re there to say what they should pay, who they should buy, when they should do it, where they should do it and so much more. We are the ones who run companies. We tell management what to do – they’re simply drones put in place to execute our advice.”


Punit Soni's Adventures in VCland said...

I absolutely agree. We all know quite a bit of the merits of these professions, I think it makes an interesting read to see what the insiders really think of their own work.

The All Nighter said...

First of all, thanks for the cross feed. It's quite true that once in the job, you only really get the opportunity to talk about the merits of it (like when you're interviewing poor souls to fill the ranks below you, you ask them why do you want to do this jon - their correce answer should be because you don't want to any more, but never is). However, the rubbish the work one does and take a bit of a negative view isn't the main reason for The All nighter (yes, it is one of them though). See, when you work 18 hour days and fill your free time by snoozing in the cab back from work or contemplating on bending the fabrix of space-time so the day can get more than 24 hours and you will then finally have a life, you don't have time for human intaraction. So this is the monkey's window to the outside world :)

Punit Soni's Adventures in VCland said...

You make for a great copy. Hopefully you get some time out to see what is going on outside in the real world than through your window:)