[UCSBMW]

i've been in the mortgage industry the past 3 years, but i've always wanted to get into investment banking...for those in the industry, do you have any pointers or advice on how to get in the industry...or any information on the industry at all...i know we're currently in a volatile market, but im still very interested.

thanks in advance!

[OC Guy]

Good luck bro.

Slightly O-T, Fremont and Downey Savings might go down very soon.

Wamu is in trouble too. Whatever you do, look in other companies.

[UCSBMW]

Originally Posted by OC 335i

Good luck bro.

Slightly O-T, Fremont and Downey Savings might go down very soon.

Wamu is in trouble too. Whatever you do, look in other companies.

hey what up john?...ya, i have a friend that works for a company that focuses on mid market...he says mid market is the way to go, since the large cap is slow due to the frozen credit market.

[UCSBMW]

[willha418]

I work for ML IBD. Where did you go to school? Any prior knowledge in the corporate finance world? In IBD, it's mainly about where you went to school or who you know. I know for a fact that most Investment Banks in the West coast recruit from Top Tier schools: Stanford, UCB, and UCLA. I also believe that Stanford has a 90% placement into IB firms such as Goldmans and Lehmans.

[houston06]

yea, I am an underclassman at a top 15 school up NE. I am looking gain experience and also more knowledge/familiarity with the industry, any advice to where to start..its also much harder to get started on an internship when I do not have previous experience. thanks in advance for any insight/advice

[willha418]

I pmed you back. good luck with that Houston and good luck to the OP. If you guys have anymore ques, you guys could PM me.

[DDL]

few options if you want to work at a top Investment Bank in Wall St.

1) get a Ivy league MBA degree,

2) or be a CFA Chartholder plus fews of experiences

3) at least wait for awhile til the economy picks up...

[jlspeed29]

I have my BSBA in finance from a state school =\ and work for a huge insurance company which will sponsor my CFA, Will, from what you know, how do you think my odds are being that i did not graduate from an ivy league school

? ? ? ?

i wanna make some paper!

[UCSBMW]

Originally Posted by willha418

I work for ML IBD. Where did you go to school? Any prior knowledge in the corporate finance world? In IBD, it's mainly about where you went to school or who you know. I know for a fact that most Investment Banks in the West coast recruit from Top Tier schools: Stanford, UCB, and UCLA. I also believe that Stanford has a 90% placement into IB firms such as Goldmans and Lehmans.

unfortunately, i did not go to a "top tier" or ivy league school...i graduated from ucsb with a BA in Business Economics. i've been working for mortgage lender Indymac Bank as an Account Executive for the past 2-3 years...however, IB has always interested me. IS there any advice you can give on getting into the industry, w/o going back to school? thanks in advance!

[DDL]

Originally Posted by UCSBMW

unfortunately, i did not go to a "top tier" or ivy league school...i graduated from ucsb with a BA in Business Economics. i've been working for mortgage lender Indymac Bank as an Account Executive for the past 2-3 years...however, IB has always interested me. IS there any advice you can give on getting into the industry, w/o going back to school? thanks in advance!

UCSB is a good school (I graduated from UCSD last year), good enough to apply for a top tier graduate school with your past working experiences. Just keep in mind that having a advance degree or license will keep you competitive in Wall St.

Good Luck

[mpimping]

the hours are too long in IB. Get a job as a trader if u can but you need connections for that. The only way to get in an IB if you don't know anybody is with a MBA. If you went to a top business school then you might have a chance but you didn't so...

[mpimping]

Originally Posted by UCSBMW

unfortunately, i did not go to a "top tier" or ivy league school...i graduated from ucsb with a BA in Business Economics. i've been working for mortgage lender Indymac Bank as an Account Executive for the past 2-3 years...however, IB has always interested me. IS there any advice you can give on getting into the industry, w/o going back to school? thanks in advance!

can a do a loan without a clear c of o?

[UCSBMW]

Originally Posted by mpimping

can a do a loan without a clear c of o?

i'm sorry i didnt understand your question...can you do a loan with out what?

[UCSBMW]

Originally Posted by mpimping

the hours are too long in IB. Get a job as a trader if u can but you need connections for that. The only way to get in an IB if you don't know anybody is with a MBA. If you went to a top business school then you might have a chance but you didn't so...

i'm assuming to be a trader, you'd have to move to NY, chicago, or SF?

[mpimping]

Originally Posted by UCSBMW

i'm sorry i didnt understand your question...can you do a loan with out what?

if there is 2 open building permits...

[mpimping]

Originally Posted by UCSBMW

i'm assuming to be a trader, you'd have to move to NY, chicago, or SF?

probably but u need to know someone otherwise it's not possible.

[UCSBMW]

Originally Posted by mpimping

if there is 2 open building permits...

if you're just looking to do a conventional loan (i.e. refinance the permanent), you will need a cert. of occ. Is construction on the property completed? or you looking to lend out to finish construction?

[nightkhan]

Originally Posted by DDL

UCSB is a good school (I graduated from UCSD last year), good enough to apply for a top tier graduate school with your past working experiences. Just keep in mind that having a advance degree or license will keep you competitive in Wall St.

Good Luck

hello fellow ucsd grad. i'm from class of '05.

yes, i-banking is tough to get into. Depends also on what you want to do in i-banking. my friend was interested and is actually in deutschbank's i-banking division. however, now that he's in it, he hates it with a passion. his hours are usually from 9/10 am until 11pm. if he's lucky...around 8 pm, sometimes till 3 am, and there are all nighter sessions too. he's usually in the office both saturdays and sundays about 8 hours each as well.

trading is definitely hard to get into. you really need to know people or get an mba from a top school. that's the area i'm trying to get into right now.

definitely do some research into what aspect of i-banking you're interested in, and understand it's going to be really rough the first couple of years.

[DDL]

Originally Posted by UCSBMW

i'm assuming to be a trader, you'd have to move to NY, chicago, or SF?

Hedge funds are everywhere. If you like to be a trader, I am sure you can find some really exciting firms in CA.

[Quote]i-banking is tough to get into. Depends also on what you want to do in i-banking. my friend was interested and is actually in deutschbank's i-banking division. however, now that he's in it, he hates it with a passion. his hours are usually from 9/10 am until 11pm. if he's lucky...around 8 pm, sometimes till 3 am, and there are all nighter sessions too. he's usually in the office both saturdays and sundays about 8 hours each as well. [quote]

Yes, average working hours per week is 80 hours in Wall St, that's why many people rather work in mutual funds or hedge funds. Same compensation, less pain in the neck...

[UCSBMW]

[QUOTE=DDL;2417128]Hedge funds are everywhere. If you like to be a trader, I am sure you can find some really exciting firms in CA.

[Quote]i-banking is tough to get into. Depends also on what you want to do in i-banking. my friend was interested and is actually in deutschbank's i-banking division. however, now that he's in it, he hates it with a passion. his hours are usually from 9/10 am until 11pm. if he's lucky...around 8 pm, sometimes till 3 am, and there are all nighter sessions too. he's usually in the office both saturdays and sundays about 8 hours each as well.

Yes, average working hours per week is 80 hours in Wall St, that's why many people rather work in mutual funds or hedge funds. Same compensation, less pain in the neck...

do you know where i could find a list of mutual funds/ hedge funds in the orange county/ la area for informational purposes?

[nightkhan]

[QUOTE=UCSBMW;2418887][QUOTE=DDL;2417128]Hedge funds are everywhere. If you like to be a trader, I am sure you can find some really exciting firms in CA.

i-banking is tough to get into. Depends also on what you want to do in i-banking. my friend was interested and is actually in deutschbank's i-banking division. however, now that he's in it, he hates it with a passion. his hours are usually from 9/10 am until 11pm. if he's lucky...around 8 pm, sometimes till 3 am, and there are all nighter sessions too. he's usually in the office both saturdays and sundays about 8 hours each as well.

do you know where i could find a list of mutual funds/ hedge funds in the orange county/ la area for informational purposes?

a firm that i used to find investment firms was Glocap. They specialize in finance and law positions across the united states, asia, and england. site is www.glocapsearch.com

they'll definitely have positions for the la area.