rheidzan

Ken, were they govt retirees who return as a consultant to double dip? Lol... ^_^

ken285

haha yes they were

student01

Wow... so they can't do the same thing to CPAs?????
This seems a little strange... how severe, really, is the ageism in engineering/CS?

bearcats

"To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me. I was 24 years old, with no experience of, or particular interest in, guessing which stocks and bonds would rise and which would fall. The essential function of Wall Street is to allocate capital—to decide who should get it and who should not. Believe me when I tell you that I hadn’t the first clue."

If you were 24 at a bulge bracket or any respectable IB, you would be doing b**** work, making models and pitch books, not meeting clients and giving YOUR advice. I call bull *****. Even if you were in S&T you wouldn't be close to running any freaking books at 24.

"management consultant on Wall Street"
hmm what?

sakky

He didn't necessarily mean meeting clients, although that does indeed happen for some 24-year old analysts. Running pitch books and models is also a manner of investment advice, for the analyst has to decide, within reason, the components that comprise the model (otherwise why even hire analysts at all: just automate everything). The client obviously has the right to refuse that advice.

The essential feature is that many, probably most, new investment banking analysts know little if anything about business or finance. They've never worked before.

I'm quite certain he meant to say management consultant or Wall Street.