by Brian DeChesare Comments (15)

Damn, It Feels Good To Be A Banker: Book Review


Damn, It Feels Good To Be A Banker: Book Review
I don’t often write book reviews on Mergers & Inquisitions (in fact, this is the first one I’ve ever done), and for good reason: there aren’t that many new books out there which are both relevant and entertaining to those breaking into investment banking.

Sure, you have the old favorites – Monkey BusinessDamn, It Feels Good To Be A Banker: Book Review, Liar’s PokerDamn, It Feels Good To Be A Banker: Book Review and Barbarians At The GateDamn, It Feels Good To Be A Banker: Book Review, but those are all at least a decade old.

The Accidental Investment BankerDamn, It Feels Good To Be A Banker: Book Review was a good addition to the mix last year, but it was more informative than it was entertaining. I’d still recommend it to anyone interested in banking, of course, but don’t expect to be rolling on the floor laughing.

Fortunately, my craving for an informative and entertaining investment banking book was satisfied this past weekend when I received my advance copy of Damn, It Feels Good To Be A Banker: And Other Baller Things You Only Get To Say If You Work On Wall StreetDamn, It Feels Good To Be A Banker: Book Review, the new book by The Leveraged Sellout.

It Does Feel Good To Be A Banker

Although I’m a huge fan of the site, I had no idea what to expect for the book. Would it be a re-hash of the (still good) content on Leveraged Sellout? Entirely new satirical pieces? Lots of blank pages followed by a section on models and bottles?

I was pleasantly surprised by the format: the book is written from the perspective of “Logan,” a 24-year old Princeton graduate who moved to New York in the fall of 2005 to work at a bulge bracket investment bank.

Each chapter of the book chronicles a different aspect of his life, from what banking is all about to how you get in (investment banking interviews and investment banking resumes) to culture: girls, partying and entertainment.

Although everything is written in the satirical style for which Leveraged Sellout has become famous, each chapter – especially the early ones on what bankers actually do – is highly informative. There’s even a section on investment banking resume and investment banking cover letter tips.

The only thing missing: a chapter on the art of the farewell email. But hey, he did cover that one on the site before

Parental Advisory: Elitist Content

I’m not going to lie – some of the content in Damn, It Feels Good To Be A Banker might offend you. Even if you’re perfectly fine with elitism, if you’re female the chapter on girls (“Mergers are a girl’s best friend”) and his characterization of “Banker Chicks” might go over the top.

If you’re international, you might want to skip over the section on diversity (“Diversity is one of our core values”). And if you work in the back or middle-office at a bank, “Logan” has some strong words for you in the “Holla back, office!” chapter.

Personally, I found everything hilarious – but then I’m not offended by much and only my geography was made fun of. Let’s face it, you’re just not a banker if you’re outside New York (kidding, kidding).

Imitation Is The Sincerest Form Of Flattery

There are a few existing Leveraged Sellout pieces that are re-used in the book, including my personal favorite – on why you shouldn’t use the mouse in Excel.

However, they are skillfully woven into the chapters and add value to each section rather than seeming like a re-hash.

And there are plenty of new Leveraged Sellout-style articles in the form of “Case Studies,” covering state schoolers, the benefits and charities bankers donate to and more.

Errata For The First Printing

Reading through this fine work of art while off in nature this past weekend (the joys of being a former investment banker), I saw only 3 things I disagreed with in the book:

  1. The example “Cover Letter” is admirable, but sorry, we still don’t read them (exceptions apply for smaller firms).
  2. Sorry, Sex and the City is not a “Banker TV show.” I know of no males who watch this or will admit to watching it. Good job with listing Entourage and The Sopranos, though.
  3. You estimate the cost of an entire Bespoke wardrobe for an MD at… “######” Whoops – poor attention to detail there (hint: the Excel shortcut to properly re-size a column is Alt-O-C-A). By my calculations it runs to $68,000 – please fix and have it on my chair by morning.

Living The Dream

So, who should buy Damn, It Feels Good To Be A Banker?

  • Anyone interested in investment banking or the finance industry in general
  • Anyone attempting to break into these industries
  • Anyone who enjoys reading Leveraged Sellout
  • (Basically, anyone who reads this site)

Your assignment for the weekend: buy this book. Live the dream.


Damn, It Feels Good To Be A Banker: Book Review

M&I - Brian

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron.

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by Brian DeChesare Comments (2)

Welcome to Mergers & Inquisitions

Welcome to Mergers & Inquisitions.

Want to get into the finance industry? You’ve come to the right place.

Curious about what it is investment bankers actually do (well, besides make a lot of money)?Welcome.

Trying to figure out if investment banking is really for you? Bingo.

Whether you’re still in school and trying to break in or you’re out in the real world already and trying to transition in, you’ve come to the right place.

Mergers & Inquisitions provides frank, easy to understand advice that can’t be found elsewhere. Unlike existing resources, we provide how-to guides with real examples of what to do and what not to do.

And since we’re not sponsored by corporations, we’re free to tell the truth.

You’ll definitely be entertained by what you read here, but we’re not trying to be a comedy site. Instead, we’re providing practical information that won’t make you want to fall asleep out of boredom.

To kick things off, check out our guide on how to get an investment banking job.

M&I - Brian

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron.

Break Into Investment Banking

Free Exclusive Report: 57-page guide with the action plan you need to break into investment banking - how to tell your story, network, craft a winning resume, and dominate your interviews

We respect your privacy. Please refer to our full privacy policy.