First of all, my heart goes out to all the people who have been impacted by 9/11. On this day, our industry suffered great loss—great people and intelligent minds. Anyway, I had an interview with US Trust (Bank of America) for a PM position yesterday, everything went very well (I think). The person who interviewed me told me the comp. plan and every detail about the position; at the end, he just told me to think it over and call the HR recruiter once I decide; never said anything like “we will call you” or “somebody will get in touch with you for the next step”. My question is am I safe to assume that I got the job and it is up to me to take it now? I know I may be reading too much into this, however; any help from you guys would be greatly appreciated! Thanks!!
Yeah - I think you can assume that “think it over and call us back” would probably not be related to some sort of threesome or an invitation to be his roommate… It’s an offer - I would send and email thanking him for his time etc, and then call back in a day or two once you’ve made a choice
Congratulation man!
Thanks!!!
Seems like you’re OK, so congrats. It reminds me of George Costanza: MR. TUTTLE: That’s funny George. You’re very quick. I feel like I, like I don’t have to explain every little thing to you. You understand everything immediately. GEORGE: I enjoy understanding. MR. TUTTLE: I want you to have this job. Of course… SECRETARY: Mr. Zimmer is on line 2. MR. TUTTLE: Thanks. I’ve got to take this call. Listen, I’m really glad that you came in.
ws-I have some experience there so I can chime in on what I know. There has been a major culture change there with the BoA integration, and not in a good way. Things are becoming very process driven, less about your ability to run a portfolio and more about protecting the bank and to an extent “retailing” the experience. The position is a pretty decent gig though, normal hours, pretty good autonomy and freedom to a degree, but it is bank of america now, keep that in mind. I know a lot of people just toss portfolios into company run strategies now as opposed to managing the holdings, which for some people is cool and for others (like me) it is the wrong road for them. Either way if you decide to do it congrats!
To continue with this Seinfeld theme, I guess you can just show up on Monday and act as if you were indeed hired. But you have to really sell it. Just ask the secretary when you get there, “Can you show me to my office?”.
tvPM Wrote: ------------------------------------------------------- > ws-I have some experience there so I can chime in > on what I know. There has been a major culture > change there with the BoA integration, and not in > a good way. Things are becoming very process > driven, less about your ability to run a portfolio > and more about protecting the bank and to an > extent “retailing” the experience. The position is > a pretty decent gig though, normal hours, pretty > good autonomy and freedom to a degree, but it is > bank of america now, keep that in mind. I know a > lot of people just toss portfolios into company > run strategies now as opposed to managing the > holdings, which for some people is cool and for > others (like me) it is the wrong road for them. > Either way if you decide to do it congrats! WOW, great information. Thank you so much for sharing. I did actually asked the guy about the intergration between US Trust and BoA, he gave me the official lines (everything great, few bumps, nothing to worry about)…some of my concern is that a US Trust client is a US Trust client, IMO, not so much BoA, I am afraid that one day I will be getting a call from a client telling me how much the retail branch sucks!!! You are right, it is Bank of America now (negative points).
there is still some separation but everything from the trading/acctg system to regulatory issues and such are different. There has been quite a fallout where PMs have walked out and taken biz. While it isnt sales in anyway, there is a push to get AI in portfolios(in my mind to lockup the money than for the client). I found it to be a good place to learn from other PMs, the offerings are good(maybe due to BofA clout), but there is a big dif between a BofA office that is now a UST office and a UST office that has always been that way. It might be interesting to see which you are falling into, I hold the old UST offices in much higher regard as far as talent, experience, etc and the bank guys have always followed the bank ideas rather than their own. I am not trying to bash it at all, its just different now. You would see similar things now that you would see at Northern or other shops where the thoughts and approved lists come from elsewhere and you just have to deal with it…best of luck to ya, in my mind its not a bad place compared to a lot of joints out there.
^Thanks tvPM, you have provide me lots of great information. I guess I will do my pros/cons analysis in the next few days. Once again, thank you so much for your insights.
tobias Wrote: ------------------------------------------------------- > Seems like you’re OK, so congrats. It reminds me > of George Costanza: > > MR. TUTTLE: That’s funny George. You’re very > quick. I feel like I, like I don’t have to explain > every little thing to you. You understand > everything immediately. > > GEORGE: I enjoy understanding. > > MR. TUTTLE: I want you to have this job. Of > course… > > SECRETARY: Mr. Zimmer is on line 2. > > MR. TUTTLE: Thanks. I’ve got to take this call. > Listen, I’m really glad that you came in. George: TATA TUT-TALE!
I think the question you have to ask yourself is whether or not you are Penske material.