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| Business, Finance, and Investing Making money, investing in markets, and running businesses |
05-23-2012, 02:06 PM
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#31
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Pooh-Bah
Join Date: Apr 2005
Posts: 5,704
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by midas
Just remember is easier to teach a math or computer expert the basics of finance and create a quant. Where ate you getting you degree from? That will be more important than your programming skills.
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Yea I know that is definitely true and many of my professors have said that. A few years too late for me to find out though.
University of Maryland, so meh.
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05-23-2012, 03:17 PM
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#32
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veteran
Join Date: Aug 2003
Location: Northern NJ
Posts: 2,090
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Quote:
Originally Posted by fluorescenthippo
Yea I know that is definitely true and many of my professors have said that. A few years too late for me to find out though.
University of Maryland, so meh.
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I wouldn't worry about CS, I would concentrate on getting a position with the local large companies in the area.
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05-23-2012, 06:36 PM
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#33
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journeyman
Join Date: May 2012
Posts: 229
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Re: Recent college undergrad entering finance industry in NYC
I took a 1-year introduction to CS course which gave an overview on how to think as a computer scientist, structures within computer science, and how to utilize various languages.
I probably spent between 15 - 20 hours of work on this course and it was by far the most grueling work I did in college for a class.
Looking back now, I also think that it was the best set of classes I took in college (not even close). I use the thought process I learned there for excel, VBA, and organization of information. My modelling / parsing of information is at least 3x better than anyone else at my firm as a result (along w/ math).
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05-23-2012, 08:49 PM
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#34
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Pooh-Bah
Join Date: Apr 2005
Posts: 5,704
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by tastychicken2
I took a 1-year introduction to CS course which gave an overview on how to think as a computer scientist, structures within computer science, and how to utilize various languages.
I probably spent between 15 - 20 hours of work on this course and it was by far the most grueling work I did in college for a class.
Looking back now, I also think that it was the best set of classes I took in college (not even close). I use the thought process I learned there for excel, VBA, and organization of information. My modelling / parsing of information is at least 3x better than anyone else at my firm as a result (along w/ math).
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weird question. how are those skills in the workplace being noticed? like does your boss know you are better at modeling than others or do you just have extra free time because of this? if you were looking for other jobs, how would you sell this skillset to employers (assuming you didn't minor in CS)?
that sounds like a really good reason to take a general CS course that i've never though of.
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05-23-2012, 09:10 PM
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#35
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journeyman
Join Date: May 2012
Posts: 229
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Re: Recent college undergrad entering finance industry in NYC
It's pretty simple. I can do things with data series and excel that other people can't. He asks me to do certain tasks/projects since he knows I am the only one capable.
I mean what I'm doing isn't "crazy" by any means. I have some complex formulas which involve index matching within index matching and array formula over array formula crap. I can also use it for simulations to solve odd problems which are too complicated mathematically.
I highly recommend taking a thorough intro to CS course to anyone in a field that uses calculations of any kind (I forget what the standard term is). It is the probably the only thing that I can't just pick up a book and figure out on my own and I think it is the course I got by far the most out of while in college.
I think I sold it as a skill to some employers by solving a ridiculous problem if done by hand. I don't know if this was a good idea (accepted another offer before they could get back to me) for an internship interview but I mentioned some gumbball problem which I read on 2p2 that I solved w/ matlab. I didn't mention 2p2 explicitly ofc.
Last edited by tastychicken2; 05-23-2012 at 09:17 PM.
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05-23-2012, 11:43 PM
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#36
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Pooh-Bah
Join Date: Sep 2007
Location: SA
Posts: 3,988
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Re: Recent college undergrad entering finance industry in NYC
I have a bachelors in finance, going back to grad school in fall, whats the best way to integrate computer science courses into my workload so that they are a) noticed by potential employers and b) so i actually learn something from them
i hope you all can understand what i am asking...i plan on getting masters in finance...but it sounds like you all dont think that is a good idea
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05-23-2012, 11:52 PM
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#37
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journeyman
Join Date: May 2012
Posts: 229
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Re: Recent college undergrad entering finance industry in NYC
no one said getting a masters in finance is a bad idea...
i think CS is a nice complement to finance but getting a masters in finance is probably a GOOD idea (assuming good school)
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05-24-2012, 08:53 AM
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#38
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veteran
Join Date: Aug 2003
Location: Northern NJ
Posts: 2,090
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by ChipRick
I have a bachelors in finance, going back to grad school in fall, whats the best way to integrate computer science courses into my workload so that they are a) noticed by potential employers and b) so i actually learn something from them
i hope you all can understand what i am asking...i plan on getting masters in finance...but it sounds like you all dont think that is a good idea
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When you ask a question like this - backround information is key:
What school did you graduate from? What were your grades?
Do you have a job now? Where you employed after you graduated undergrad?
Where do you live now and where do you want to live in the future?
Where are you getting your Masters in Finance?
Do you or will you have any student loan debt?
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05-24-2012, 12:44 PM
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#39
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Carpal \'Tunnel
Join Date: May 2008
Location: @hobokes
Posts: 6,281
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by tastychicken2
what hobokes says is mostly correct.
it probably detracts since going to a prop shop is looked down upon by the street's trading counterparts (from what I heard from someone at a prop shop). The skillset is also completely different. You don't have to be intelligent or a critical thinker for a prop shop role but you have to for being in PE. The types of things you do (looking at LT fundamentals, spreadsheet) versus trading (quick decision making, intra-day risk parameters) are completely different. People who are actually in either business can probably comment better than me.
I'd assume the qualities prop shops look for are similar to that of a poker player but PE firms and investment banks are looking for the nerds and people who are willing to slave away + demonstrated success.
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tasty is pretty accurate here. 'Mostly' is a good qualifier. I actually prop traded, played poker, and now work at a PE fund. So, it can be done (although it is not ideal).
Prop shops are definitely into the poker personality/skillset. Fast decisions, acting under pressure, incomplete information, risk mgmt. Just be very careful with which prop shop you join. Be especially careful if they require a deposit.
OP, if you have any specific questions, feel free to shoot me a PM.
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05-24-2012, 01:14 PM
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#40
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veteran
Join Date: Aug 2003
Location: Northern NJ
Posts: 2,090
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Quote:
Originally Posted by hobokes
tasty is pretty accurate here. 'Mostly' is a good qualifier. I actually prop traded, played poker, and now work at a PE fund. So, it can be done (although it is not ideal).
Prop shops are definitely into the poker personality/skillset. Fast decisions, acting under pressure, incomplete information, risk mgmt. Just be very careful with which prop shop you join. Be especially careful if they require a deposit.
OP, if you have any specific questions, feel free to shoot me a PM.
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You should be more specific about your background - schools, degrees, work experience. If you prop traded at Goldman then went to Wharton B School and played poker on the side and got a job at a PE firm that would give readers more perspective.
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05-24-2012, 02:12 PM
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#41
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Carpal \'Tunnel
Join Date: Jul 2004
Location: Toronto
Posts: 11,791
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by ChipRick
I have a bachelors in finance, going back to grad school in fall, whats the best way to integrate computer science courses into my workload so that they are a) noticed by potential employers and b) so i actually learn something from them
i hope you all can understand what i am asking...i plan on getting masters in finance...but it sounds like you all dont think that is a good idea
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masters in finance is prob a good idea. it's not the same thing as a bachelors in finance at all.
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05-25-2012, 07:27 AM
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#42
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Carpal \'Tunnel
Join Date: May 2005
Location: buy side
Posts: 16,421
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by Biesterfield
Training the Street and WallStreetPrep offer modeling classes. Probably some others. Check with your school.
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ya I just used my roomates training the street books he got when he joined lazard and did their nyc summer training porgram. If you know someone who just started banking he probably has some of these books or ones like it lying around so try to borrow them.
I hear the kids in school these days get classes on modeling. I got to learn useful things like communications in management instead, lucky me.
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05-25-2012, 11:57 AM
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#43
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stranger
Join Date: Dec 2009
Posts: 12
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Re: Recent college undergrad entering finance industry in NYC
Is ordering and studying a package from Wallstreetprep something that will be relavant/useful for someone like me? ( http://www.wallstreetprep.com/progra...um_package.php).
Im afraid it might be a bit too advanced and too specific maybe (keep in mind im a recent graduate in economics with no real background in finance/accounting).
thanks
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05-27-2012, 12:16 AM
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#44
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Pooh-Bah
Join Date: Sep 2007
Location: SA
Posts: 3,988
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Re: Recent college undergrad entering finance industry in NYC
Quote:
Originally Posted by midas
When you ask a question like this - backround information is key:
What school did you graduate from? UTSA
What were your grades? 3.2 overall 3.5 biz school
Do you have a job now? No, plan on internship at Oil Company in a markets or fin division*** I live in San Antonio TX any better ideas for an internship?
Where you employed after you graduated undergrad?
no applied to abt 40 different positions, my resume sucks, i plan on giong back to grad school and interning to improve on this and find a career path/industry i will really enjoy in finance
Where do you live now and where do you want to live in the future? San Antonio TX, where ever pays the most
Where are you getting your Masters in Finance?UTSA is the plan right now, GF getting masters in Psych from here, kinda stuck
Do you or will you have any student loan debt? no student debt, only a mortgage, parents prob front my student bills no interest till i graduate
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Hope this helps, any advice extremely appreciated allot of big decisions need to be made soonish
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05-27-2012, 08:00 AM
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#45
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veteran
Join Date: Aug 2003
Location: Northern NJ
Posts: 2,090
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Quote:
Originally Posted by ChipRick
Hope this helps, any advice extremely appreciated allot of big decisions need to be made soonish
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I don't know who the large employers are in San Antonio but if you have struck out with all of them you need to relocate.
It is my opinion and I would like to hear others that you need to have some work experience first before you get a masters in a business field. Also, getting that degree from a satellite campus is not the same as from UT Austin. You need to concentrate on getting into a large company, getting your MF won't help you in your situation. Also, making decisions based on what your gf is doing at your age is not advisable. Why do you have a mortgage?
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