How to Succeed On the Job in Investment Banking: Are You a STARR or a TWAT?

4 Comments | Investment Banking - Lingo, Culture & Staying Alive

Investment Banking on the Job Success“That new analyst we just hired will definitely be a STARR.”

“But that one from last year is turning out to be a TWAT so far.”

I looked at my 2 banker friends in confusion.

“Um… what are you talking about? I’m assuming those are acronyms?”

They looked at me like I was crazy.

I explained that I had already left the industry, so I was no longer up on all their jargon.

But my one friend didn’t accept that as an excuse.

He replied, “The easiest way to predict someone’s success on the job is to figure out whether he/she is a STARR or a TWAT early on.”

Hook, line, and sinker… now they had me.

“OK,” I said, “Stop building this up and just give me the full explanation.”

Say What?

Equities vs. Fixed Income in Sales & Trading: The Top 5 Myths You Should Stop Believing


equities-vs-fixed-income-sales-tradingYou can choose your friends, but you can’t choose your family.

What about your desk when you start working in sales & trading, though?

That one is somewhere in between friends and family on the “choosability” scale.

One small problem, though: if you look at most online discussions of this topic, you’ll get a very misleading view of what different groups and desks are like.

So our usual guest-for-all-things-S&T-related and I sat down to clear up the confusion.

Among other topics, we talk about how to decide between groups, how much math is required, how recruiting is different, and how the workplace environment is different… beyond just the type of trading you’re doing.

Get the full MP3 recording, the transcript, and a summary of the key points after the jump:

Equities vs. Fixed Income: Myth vs. Reality

How to Win an Investment Banking Offer from a Non-Target MBA Program – Without Any Full-Time Work Experience

10 Comments | Case Studies & Reader Success Stories - From MBA Programs

Investment Banking Non-Target MBAA lot of people want to go to business school.

Some even want to do it without having any full-time work experience first.

And I always respond the same way:

“Nooooo! Don’t do it! Step back and re-think your life first.”

But sometimes I’m wrong.

While it’s difficult to win full-time offers or internships at large banks without pre-MBA work experience, it’s not impossible.

And in some regions – like Canada – you might even call it “do-able.”

Our interviewee today moved from an engineering background in undergrad straight into a non-target MBA program in Canada…

…but still managed to complete multiple co-ops and win a full-time offer in a rotational program at a large bank.

Here’s how she did it: