A Job on Wall Street
Sanford C. Bernstein
To all of you who have asked for my help in finding a job on Wall Street, I want to apologize for my delay in getting back to you. I do have an excuse though, -- as most of you realize Wall Street is not an altruistic place. So when you asked for our assistance in the late fall, the Street was in the midst of its annual bonus season. This is a period of the year when the finance careers are made or ended, annual compensation is determined and the partners of the Wall Street’s firms find out if their “option” has been picked up for another year. Well, the good news is that Sanford Bernstein decided to keep me around for a little longer and when the year end bonuses were awarded at year end I certainly had nothing to complain about. So now I have some time to turn to your concerns – finding a position on the Street. Please see the attached tongue-in-cheek “How to Guide” to Wall Street Careers.
Regards
Brad Hintz hintzcb@bernstein.com
Sanford C. Bernstein
A “How to” Guide to Wall Street Careers.
Wall Street is one of the most misunderstood areas of the U.S. economy. Underwriting, M&A, Risk Arbitrage, Proprietary Trading, Equity Block Desks, IPOs and Follow-Ons, Equity Program Desks, Prime Brokerage, High- Yield Bonds, Research Sales are all terms that even the most devoted MBA student finds somewhat baffling. Frequently, when I meet with MBA students and ask them about their aspirations on The Street, they mumble something about investment banking and then unknowingly say something about the industry that is either very outdated or simply untrue. Well, Wall Street isn’t just investment banking and getting a job on Wall Street is not like any other experience that you will have. It’s not like interviewing for a job at a consulting firm, or trying to get a position in a training program in an industrial company or talking with a bank about a lending job. Your professors and placement offices are likely to be “in the dark” about how
To all of you who have asked for my help in finding a job on Wall Street, I want to apologize for my delay in getting back to you. I do have an excuse though, -- as most of you realize Wall Street is not an altruistic place. So when you asked for our assistance in the late fall, the Street was in the midst of its annual bonus season. This is a period of the year when the finance careers are made or ended, annual compensation is determined and the partners of the Wall Street’s firms find out if their “option” has been picked up for another year. Well, the good news is that Sanford Bernstein decided to keep me around for a little longer and when the year end bonuses were awarded at year end I certainly had nothing to complain about. So now I have some time to turn to your concerns – finding a position on the Street. Please see the attached tongue-in-cheek “How to Guide” to Wall Street Careers.
Regards
Brad Hintz hintzcb@bernstein.com
Sanford C. Bernstein
A “How to” Guide to Wall Street Careers.
Wall Street is one of the most misunderstood areas of the U.S. economy. Underwriting, M&A, Risk Arbitrage, Proprietary Trading, Equity Block Desks, IPOs and Follow-Ons, Equity Program Desks, Prime Brokerage, High- Yield Bonds, Research Sales are all terms that even the most devoted MBA student finds somewhat baffling. Frequently, when I meet with MBA students and ask them about their aspirations on The Street, they mumble something about investment banking and then unknowingly say something about the industry that is either very outdated or simply untrue. Well, Wall Street isn’t just investment banking and getting a job on Wall Street is not like any other experience that you will have. It’s not like interviewing for a job at a consulting firm, or trying to get a position in a training program in an industrial company or talking with a bank about a lending job. Your professors and placement offices are likely to be “in the dark” about how