“Andy used to want to be in the heat of things, sealing deals and wooing clients, but now he’s destined to be support staff.

Holla back, office?”

-BigLaw, BigSchmaw, The Leveraged Sellout

One of my most frequent questions lately is whether or not it’s a good idea to work in the back office of a bulge bracket investment bank.

I try to give specific, nuanced tips on everything from private equity interviews to investment banking resumes, but my advice on this one is simple:

No.

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“Summer means various things to various people, but one thing it means for most people in finance and all of New York is: interns. I’m told there is a similar wave of little political interns towards D.C. this time of year, but frankly, I’m not even certain they get paid.”

-Sheer Suckers, The Leveraged Sellout

As we approach the end of the summer and move into the fall recruiting season, all the summer banking interns out there have to think about their next moves.

The first step in that process: figuring out whether you’re getting a full-time offer, or whether you’ll have to search for “strategic employment alternatives.”

While there’s never a 100% accurate way to tell if you’re getting an offer or not, you can improve your chances considerably if you know how banks make decisions.

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After a long absence while I was on vacation over the past few weeks, reader Q&A returns this week with another good set of questions, including perhaps my favorite question ever:

Was it all worth it?

But before we get to that question, let’s look at a few other interesting inquiries I’ve received recently.

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What is Investment Banking?: Ari Gold: What Bankers Actually Do, Why NOT Do Investment Banking

Investment Banking Lifestyle: A Day in the Life - Worst Day and Best Day, How to Stay Fit, Investment Banking Wardrobe for Men, Investment Banking Lingo Part 1 and Part 2, A Week in the Life (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

Breaking into Finance: How to Get an Investment Banking Job, Networking into Investment Banking, Recruiting in a Tough Market, Breaking in from Engineering, Breaking in from Law, Breaking in from the Back Office

Investment Banking Resumes: How to Write an Investment Banking Resume, How Investment Bankers Read Resumes

Investment Banking Interviews: Investment Banking Interview Guide, The Interview Selection Process, How to Close Your Interviews

Summer Internships: Summer Intern Success Guide, How to Dominate Your Summer Internship, Tips from a Former Summer Analyst, What You Do as a Summer Analyst, 10 Summer Internship "Don't's", How Summer Interns Get Full-Time Offers

Investment Banking Salaries: Investment Banking Salaries vs. McDonald's, Why Investment Bankers Make So Much Money, 2008 Analyst Bonuses

Private Equity / Buyside Jobs: Private Equity Resumes, Private Equity Interviews, The Myth of the Buyside Job, Headhunters: Friend or Foe?

Specific Groups: UBS LA, Boutiques, Restructuring, The Back Office

Quitting Finance: The Conference Room: How You Get Fired, The Farewell Email, A Day in the Life of a Former Investment Banker