Hi,

I go to a target and will be doing full time recruiting this coming fall. I've thought a lot about my career options the past couple years, and banking is one of the jobs that I'm interested in considering after graduation.

I'm hoping that some of the more experienced members on this forum can provide a clearer picture of the benefits in banking, particularly from the perspective of someone ~5 years out (ie just past entry level), or someone ~10 years out (ie early career with lots of experience under the belt).

I'm specifically trying to understand the unique/really strong value adds that entry-level banking offers. Most of what I've heard so far revolve around the following:
1) banking offers a lot of money for someone just out of school
2) banking teaches modeling skills
3) banking refines your knowledge of finance, particularly accting and corp fin
4) banking makes you feel good about yourself/get girls/look good with friends
5) banking opens doors to "anywhere"

Location(s)

The Position
Senior Manager, Acquisitions and Investment, Chicago

Our client’s finance function is looking for a strong resource to provide accounting advice on new deals. This individual will work with the Global Development group as the primary transaction reviewer and advisor as to the accounting implications of acquisitions, dispositions and joint venture investments.

Responsibilities
Review new deal documents and provide advice on accounting implications of transactions as they progress to completion
Review developing joint venture agreements and provide advice and accounting implications as to structuring
Perform financial due diligence on acquisitions
Accounting oversight of joint venture investments

Requirements
Seven to ten years of experience in public and/or industry accounting
Experience with large real estate transactions and partnership agreements

For the month of September, The Analyst Exchange is offering the following free courses to members of WallStreetOasis.com. Normally, to have access to these courses you have to be a student enrolled in one of the Interview Prep or Basic Plan courses. (note: significant discounts available to WSO members for these courses in our training section)

***PLEASE NOTE DATE CHANGES*** All courses begin at 10:00a.m. EST and are available around the world using Skype.

September 5 - Balance Sheet Balancing Techniques

This course is a 1.5 hour walkthrough of our unique technique on solving an unbalanced balance sheet. No more all-nighters pining through unbalanced models!

anybody heard of inkstone capital? I hear this guy manages millions, or that's what he tells all the underage tail.

www.inkstonecapital.com

i might apply, it's even got research, PE, and pwm divisions...no CEO though just a managing director. any thoughts?

Back when I was interviewing for both IBD and PE jobs I remember the number one question I got was for me to share my thoughts on the market. Once the interviewer established that I had the required amount of intellect to do the job they tended to see how in touch with the markets I truly was. This was especially true for my buy side interviews. On the buy side they were less interested in my ability to be a banker monkey and more interested in my ability to speak and truly add value via original thoughts. This was usually through one of the following questions: tell me about a stock idea, where do you think the market is heading and why, or give me an idea for an M&A deal or LBO that hasn't yet be done? Trouble with this, is it is easily one of the harder aspects to keep sharp on. Sure reading the journal, Barron’s, FT, dealbook, economist, etc.. will keep you up to date, but it doesn’t help if your just rehashing widely shared opinions.

As UBS executives appear to have given their tentative blessing to the continuance of the 'one bank' model, attention is focusing on how best to remunerate staff who work in different parts of the empire.

As The Wall Street Journal points out, it's hardly fair if, for example, the bank's asset management staff have a stellar year, only to find that losses over at the investment bank have hit profits and the firm's stock, and that deferred equity awards are in the toilet. Conversely, the investment bank could come good again, only to find that a US tax evasion-like scandal affecting the private bank weighs the bank's stock down. Three units, 'one bank', and only one stock price. Quite a problem. The answer, according to the newspaper, might be the introduction of a 'phantom equity' scheme for each unit, which will enable UBS to more closely tie reward with performance in the respective businesses. And that idea is apparently under consideration.

What is everyone's take on renegging an offer?

If you received a full-time offer at the end of your BB internship and then signed on, what are the consequences for accepting at another BB bank afterwards?

Also, do banks you are interviewing with call up the firm listed on your resume and check if you received an offer? If so, when in the process do they do this? After they offer you a position or before?

Now any user can create their own group!

We encourage company groups, investing groups, school groups, sport groups, or any other group you can think of...you can invite your buddies or any other users to a specific group. the groups can be fully public, by invite only or 100% private (like WSO's Moderator group).

Please be patient as there are still more improvements coming to the layout and look to Groups, but the overall functionality should be working. Please let us know if you are having any problems in this thread.

We have also created a WSO Certified User Group where the Certified Users can interact, network and get advice from each other easier. This is long overdue...especially since the Certified Users will be contributors to a new book we'll be publishing soon (likely early next year).

Thanks and enjoy.

-Patrick