Kid wants to work on Wall Street

[Anonymous]

Anonymous wrote:Trinity College would be a target.

Trinity has a pipeline to the street..

[Anonymous]

Anonymous wrote:

Anonymous wrote:Trinity College would be a target.

Trinity has a pipeline to the street..

A pretty good one too

[Anonymous]

Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

[Anonymous]

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

To be fair, this is by design. Businesses don’t make it at all clear what these different roles are, because it’s not about hiring whose actually best for the job, but who went to your college and seems fun to drink with.

[Anonymous]

Wall Street sounds hellish. Article today about the unreal hours and working conditions.

Junior bankers—typically analysts and associates—aren’t supposed to work more than 100 hours a week and should have Saturdays off, unless human resources grants exceptions.

https://www.wsj.com/finance/bank-of-america-tells-bankers-to-report-bosses-who-pressure-them-to-underreport-hours-758cb44b?st=pj56jysml9kolmv&reflink=article_copyURL_share

[Anonymous]

Anonymous wrote:Wall Street sounds hellish. Article today about the unreal hours and working conditions.

Junior bankers—typically analysts and associates—aren’t supposed to work more than 100 hours a week and should have Saturdays off, unless human resources grants exceptions.

https://www.wsj.com/finance/bank-of-america-tells-bankers-to-report-bosses-who-pressure-them-to-underreport-hours-758cb44b?st=pj56jysml9kolmv&reflink=article_copyURL_share

Quite honestly…you see the same from
Big law and it is why the partners I know don’t want their own kids to do it.

I should say corporate and litigation big law…not sure if patent or tax or other types of partners feel the same.

[Anonymous]

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

I’m sad you couldn’t raise children with morals.

[Anonymous]

Alright OP, this is an area I'm very familiar with and can give some insight. Wall Street is still very prestige driven when we're talking about desirable roles (investment banking, sales & trading, and buy side role e.g., private equity, asset management, hedge funds, etc.). This has improved in recent years but there are many online resources that show the 'target' schools that these institutions primarily hire from. The heavy hitters are Ivy League schools (esp. HYP and Wharton), and similarly prestigious programs, but there are some slightly more accessible schools that your kid should look into if interested in 'high finance':

UVA (Darden)
Georgetown (McD)
U Michigan (Ross)
NYU (Stern)
Emory (Goizuetta)

These would all be reaches, but not totally out of the question. They all have dedicated business schools that have very strong pipelines into IB and Wall St. more broadly. Indiana University's Kelley is another program that places remarkably well and has lower selectivity than the usual suspects. Fordham and Boston College also have some success, but limited comparatively.

Outside of these, some schools do very well regionally (SMU and UT Austin for example), particularly in the Houston scene, though your kid might be less interested in going to college/working there.

I'd ignore much of the advice you'll hear about small schools that "punch above their weight". It's not that some SLACs don't do well (WASP, CMC, and some other very selective LACs do great), but for the most part this is kind of a fiction. I know many people who went to Bucknell or Villanova pursuing finance -- none of those people work in IB, PE, S&T, etc., though they can do fine if targeting corp. dev or accounting I guess.

Main takeaway: Wall St. has its favorites, and breaking in from outside of them is a very uphill battle. It's also worth mentioning that it's a very tough, very cutthroat career path. Definitely the kind pursuit where it's helpful to have other options in mind when you're in college.

[Anonymous]

Anonymous wrote:Alright OP, this is an area I'm very familiar with and can give some insight. Wall Street is still very prestige driven when we're talking about desirable roles (investment banking, sales & trading, and buy side role e.g., private equity, asset management, hedge funds, etc.). This has improved in recent years but there are many online resources that show the 'target' schools that these institutions primarily hire from. The heavy hitters are Ivy League schools (esp. HYP and Wharton), and similarly prestigious programs, but there are some slightly more accessible schools that your kid should look into if interested in 'high finance':

UVA (Darden)
Georgetown (McD)
U Michigan (Ross)
NYU (Stern)
Emory (Goizuetta)

These would all be reaches, but not totally out of the question. They all have dedicated business schools that have very strong pipelines into IB and Wall St. more broadly. Indiana University's Kelley is another program that places remarkably well and has lower selectivity than the usual suspects. Fordham and Boston College also have some success, but limited comparatively.

Outside of these, some schools do very well regionally (SMU and UT Austin for example), particularly in the Houston scene, though your kid might be less interested in going to college/working there.

I'd ignore much of the advice you'll hear about small schools that "punch above their weight". It's not that some SLACs don't do well (WASP, CMC, and some other very selective LACs do great), but for the most part this is kind of a fiction. I know many people who went to Bucknell or Villanova pursuing finance -- none of those people work in IB, PE, S&T, etc., though they can do fine if targeting corp. dev or accounting I guess.

Main takeaway: Wall St. has its favorites, and breaking in from outside of them is a very uphill battle. It's also worth mentioning that it's a very tough, very cutthroat career path. Definitely the kind pursuit where it's helpful to have other options in mind when you're in college.

Oops, add Notre Dame Mendoza to that list.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

I’m sad you couldn’t raise children with morals.

It's very moral contributing to the safety of our country, which probably includes you!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

I’m sad you couldn’t raise children with morals.

It's very moral contributing to the safety of our country, which probably includes you!

Uh huh, all the “safety” America needs from foreigners lmao. This has to be a joke

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

PP is right, though. They also said “usually”.
Around here though, I can see why kids focus on Wall Street as a way to get rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

PP is right, though. They also said “usually”.
Around here though, I can see why kids focus on Wall Street as a way to get rich.

In elite college students minds, the only paths are consulting/ib/doctor/lawyer or poverty. They really need to beef up those career centers a bit