🗞️ WSO: Q&A: Leaving IB After 5+ Years

Hey {NAME}, Kickstart your finance career with our 8-hour [Foundations Bootcamp]( on June 29, 2024, that covers Excel, PowerPoint, Accounting, and more. Also get lifetime access to top-tier training with our comprehensive courses. [Sign up today]() -Patrick Top Discussions 1. [Q&A: Leaving IB After 5+ Years]() - "I submitted my resignation letter today after 5.5 years doing restructuring at PJT/MoCo/HL in the APAC region. My analyst years were absolutely terrifying given the prolonged panrestrictions and a complete lack of work-life balance. Surprisingly, my associate stint was even more painful than my first three years in the trenches given all the sheer oversight and process management skills required to lead very bespoke transactions (restructuring bankers know what I mean)..." 2. [8 Figure Comp in IB/PE Compared to Tech?](=) - "Eight figures in investment banking is a) head of IB or head of a very large and profitable group at non GS BB; b) the top third of Goldman IB partners; c) the top 25% of the top boutiques; d) major producers at the MM firms and heads of the more profitable groups. So I’d say 200 people across the street. They tend to be FIG, TMT and healthcare focused these days. I run an old economy group and there are plenty of 5-8 MDs but no one I know is making 10+..." The Next Hostile Takeover? Your VP’s Job Ever wanted to run your own Barbarians at the Gate of your boss’s job? Now you can, with Mosaic. Mosaic isn’t just a tool for modeling and managing deals - it’s your secret weapon for career domination. Master LBOs, IPOs, and all your deal flow like a bulge bracket CFO so that every time your boss thinks about their job security, all they’ll say is “Oh no.” With Mosaic, you’ll transform financial models in minutes, making complex scenarios simple and ensuring your work is always error-free. Go from CIM to LBO in just 5-minutes, with full Microsoft compatibility to Excel-erate past your peers, VP, and probably even Henry Kravis. Need to crank up the complexity? Mosaic's got you. Need an IPO exit scenario? Click. Dividend recaps? Done. M&A, cost savings, extended hold periods? Mosaic does it all, with style, perfectly. Every. Single. Time. Become a Barbarian that Dominates the private equity landscape with Mosaic. Become the hero of your fund by bringing the magic of Mosaic to your team. Request a demo today and join top funds like CVC, Warburg Pincus, New Mountain, Onex, and more. Mosaic is the industry's - and your - new best friend. [Request a demo today]( Top Discussions Continued 3. [The Investment Process -- How to Find and Develop Good Ideas (Discretionary L/S Equity)](=) - "Your job is to find attractive trade ideas. Doing so in a repeatable way requires a strong process. This means you need to focus on a coverage group you can maintain through many earnings cycles. Some industries are a coverage group, but most need to be broken down into a specific verticals. For example, breaking up "Media" into "ad tech" and "streamers". When you build your coverage list, include companies from other sectors and industries if they compete in your vertical..." 4. [When After You Started have You been Hit with Reality?]( - "Has for you, at some point, come the bittersweet realization that none of what you are doing is particularly special, prestigious or what not? Not sure how to phrase it but (looking back) all the cringe wrong expectations you had about private equity, banking or management consulting? Like you are going to be a new whiz-kid, make tons of money in the investment world, and what-not..." 5. [Why is Corp Dev Hated on as an Exit?]() - "All of my friends that actually exited to corp dev are exceedingly happy with their decision and seem to be loving life. It sounds objectively better in every way except money. As in they claim more interesting work, more responsibility and ownership in a good way, way lower hours, better people to work with, way less stress, more fun, more flexibility, still very happy with pay, etc, etc. The hate comes because it’s so hard to justify the upfront paper loss in compensation..." 6. [Keep an Open Mind When Deciding What to do After Banking](=) - "A mentor MD of mine gave me advice as I went to him and told him I wanted out but just didn’t know what to do next. He told me to take a piece of paper, not your phone, not a word doc, paper. At the top list the top 3 things you wanted most of your next career. For me it was work life balance, high earning potential and working with people. Then he said to write out what you are good at and what you are not. After that, what you like and dont like about this job or any. Once you have all that, look up careers that fit your goals, likes and skill set..." 7. [How are Old Investing Classics still Useful Today?](=) - "From my perspective, it is mostly context setting + helps you to build the basic frameworks that are "table stakes." Will you apply it like a recipe book? Obviously not, but I think you're forgetting that before you read some of these books, you barely understand what the "game" is. A lot of it helped me to understand what the first level thinking is like by all other market participants today. Really depends on what your style and strategy is, but cumulatively I've found it helpful to see a bunch of different processes and styles historically, and it all builds on itself..." New Podcasts Coming in Hot 🔥 - Nvidia’s Shocking Supreme Court Battle: What You Need to Know - Banks Eat Their Words: The New S&P 500 Predictions Explained - Non-target Masters to Investment Banking in London - Chat with Hector - The Surprising Truth About Stock Inequality WSO Alpha - Latest Updates 📈 We uploaded the [May brokerage report]() for those of you curious how we did. Hot Jobs 💼 [Investment Banking Analyst - New York, NY]( - "Analysts work as part of our banking team and play a critical support role in the management of workflow and the execution of sell side transactions, assist on buy-side engagements, and in the generation of pitch books and financial models for our current and prospective clients..." [Sr Discretionary Researcher / Trader - Fully Remote]( - "We are a discretionary, event-driven proprietary trading firm and hedge fund specialized in the digital asset space." [Marketing Manager - West Coast, US]( - "The Firm is an early-stage venture capital firm with $300mn in assets under management and a deep commitment to supporting the next generation of groundbreaking technology..." [Research Associate (Equity Small Mid Cap) - New York, NY]() - "This position will support the Small/Mid-Cap Equity research team and initially be responsible for covering multiple sectors in support of current team members." [PE Associate - Reston, VA]() - "The Firm is a growing middle-market private equity fund that currently manages over $700mn of committed capital across several fund vehicles." [Browse all jobs on The Talent Oasis](=) On Deck - Training 🎓 All in Eastern Standard Time - June 29, 10am - 6pm - [Foundations Bootcamp]() (Open Now) - July 13, 10am - 2pm - [VC Bootcamp](=) (Open Now) - July 13, 10am - 2pm - [RE Modeling Bootcamp]() (Open Now) - July 20-21, 10am - 6pm - [FMV Bootcamp](=)** (Open Now) - July 27, 10am - 2pm - [IB Interview Bootcamp](*** (Open Now) - Aug 3, 10am - 6pm - [PE Interview Bootcamp](* (Open Now) - Aug 10-11, 10am - 6pm - [FMV Bootcamp](=)** (Open Now) - Aug 17, 10am - 2pm - [IB Interview Bootcamp](*** (Open Now) - Aug 24, 10am - 6pm - [Foundations Bootcamp]( (Open Now) Stay Strong, Patrick Curtis CEO and Founder, [WallStreetOasis.com]() WSO Mobile App: [iOS]() | [Android]( PS - We're also always looking to add [resume reviewers](=) and [WSO Mentors]() to our team. Set your own pay (from $40/hr to up to $400/hr) to increase or decrease mentee flow. To submit an application, go [here](). PPS - Think you have an interesting story? Want to share it with our podcast listeners? Hit reply and let me know! * PE Interview Bootcamp includes lifetime access to the [PE Interview Course]( ** FMV Bootcamp includes lifetime access to the [Elite Modeling Package]() *** IB Interview Bootcamp includes lifetime access to the [IB Interview Course]( [Facebook](facebook.com/wallstreetoasis) [Twitter](twitter.com/wallstreetoasis) [LinkedIn](=) [YouTube]( [Instagram](instagram.com/wallstreetoasis) Don't want the WSO Weekly Wrap Up? [Unsubscribe]( IB Oasis Corp. (aka "Wall Street Oasis") 14435 Big Basin Way PBN 444 Saratoga, California 95070 United States