Worse than expected at least on a business plan. I took this opportunity to clean up the BS.
Never underestimate random luck bro. Worked for a douchebag at big bank where I was killing it, go in for my review and he says that I am still years away from making ED/SVP. Years away, I can still here kuntz voice. I was shattered, told my wife I think i just wasted my career cuz i thought it was going great…and dbag wasn’t going anywhere. Fast forward 6 months, turns out the dbag has been sleeping with colleague, both married, wife files for divorce and wants all kinds of info on his carried interest…firm decides to fire him to protect itself from divorce lawyer. Long story short, new guy comes in, likes me, and I went back from zero to hero. Stuff happens all the time, nowadays, just move to get your bling – forget the loyalty thing it doesnt work no more.
I made it into an IB within 12 months from audit and new country. STOKED.
Starting lower than anticipated but going to use 2019 to absolutely boss as an Analyst.
Bring on 2019!
Having a good boss literally is a Godsend.
There are no bad bosses, only ineffectual subordinates 
not to sound arrogant but EDs are dime a dozen. Unless you are MD you have not made it
Most of the time, a boss has to be bad for someone else to be good for you. There aren’t enough positions for every subordinate to get promoted. So, if you are chosen to be promoted, usually, someone else doesn’t get it. Otherwise, everyone under that boss gets stuck, because no one leaves.
Not sure what your point is, but at my firm, at that time, you had to touch second to get to third. The only guys who went from VP to MD were the guys who burn out and move to industry. Then their story becomes, “they wanted to make me MD, but I chose to leave…”. Don’t be that guy.
It don’t matter EDs are a dime a dozen, I was making serious coin and doing coverage work, which is what you need to be closer to the revenue, and make MD. When you make MD, you get a base bump, but your overall comp doesn’t change much (cuz now you’re only a young MD), but you do get another week of vacation. That’s not “makin it”.
Oh serious coin. Anyway, I think the point he is making is that any rank below MD is basically formulaic by number of years of experience. You generally get there even without any preferential treatment or outstanding performance. Getting to MD usually is more unpredictable, as it is dependent on some combination of personal performance, luck and circumstances. Usually, budget is a consideration as well, as you usually get paid a bit more (unless you’re in UBS). That is another thing outside your control and requires some boss to support you.
I don’t know about that. Been working a long time, you need to separate the macro (overall career) from the micro (your experience at a specific job). More than anything, what affects the macro is whether you are lucky enough to experience a few bull markets in your career, especially at beginning of your career. During these times jobs are abundant and you can advance fast…all your great idiosyncratic risks get swamped by this effect. For the micro, i have friends who work their entire careers at goldman or citi and do great, while others move firms, cities and even countries and do great. There isn’t one formula because luck is too big a factor, but yes, every subordinate can get promoted…just not at the same firm.
Ha, yes serious coin, by the boat load…that sounds retarded now when you point it out, but is how it felt then. I had no money growing up so for me it was a big achievement . Honestly I don’t recall that getting to ED was a no brainer, I feel like you had to earn it, but maybe you guys are right.
pretty much. Being at the right place at the eight time is probably 80% (new desk, md retiring, etc). Also i found that your chances increase when you stat longer at one place ar the cost of marking yourwef to market ( you are probably underpaid )
Maybe it’s because I still have the sense of humor of a seventeen year old, but you’re bragging about getting ED?
or are we not talking about the same type of ED?.. what is ED?
Which big banks’ US operations have the executive director title these days? JPM, UBS, MS…anywhere else?
If you wanna learn who’s the Baby Daddy, I can get you a free trip to Stamford, CT.
#Maury
Have you considered opening a google? No barriers to entry.
Just write web crawler, out it on aws lambda, have immediate access to 1000 compute engines, then cache results in dynamo DB, accessing gigabytes of storage. In tech 1 smart person can literally do everything.
Never better.
dirty
Yea, i considered it, but i am not willing to forgone income today, for possibility of multi million payout later. Thanks for asking!
I was worried you were short the 1 smart person.