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Hello javaranchers!

i need some serious insights abt working in the software division of an IB such as Goldman Sachs.currently i am working for Siemens and am in germany till april 2006.i am an electrical engineer and i have a penchant for the field of Finance, but what exactly in finance i dont know.but stock market and forex interests me.i wish to grow on the functional side and less on technical side. i see myself as making requirement analysis for financial domain projects. is there anybody here from any IB?i want to know abt the work culture there. in siemens it is very cool, i work from 8 to 5 and sat, sun is holiday. is it the same way there too or tough?i need some one here to help me in person to reach my goal. please come forward!

Thanks
 
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Great question. I too have similar interests. Eager to see some replies.
 
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If you want to get into the finance side at a place like Goldman, you probably need to get into their analyst program. You'll b working 70-100 hours a week--this is not an exaggeration, I know people who have done that. To get into such a program, you need to eithr have good connections, or to take some classes in finance and/or economics.

If you want to stay on the tchnology side, the hours might not be quite so long, but figured 60 hours per week as a norm.

"Liar's Poker" is a good book about Wall St culture.

--Mark
 
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Originally posted by Mark Herschberg:
If you want to get into the finance side at a place like Goldman, you probably need to get into their analyst program. You'll b working 70-100 hours a week--this is not an exaggeration, I know people who have done that. To get into such a program, you need to eithr have good connections, or to take some classes in finance and/or economics.

If you want to stay on the tchnology side, the hours might not be quite so long, but figured 60 hours per week as a norm.

"Liar's Poker" is a good book about Wall St culture.

--Mark




At the end of the 60hrs/week; you sure will get very good bonus at the end of the year. Wall street is the place for getting best bonuses(in decent years) compared to any techno firms.
 
Neeraj Macker
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i dont have any connections in the financial industry. can someone tell me how to make them, i mean how to find the right consultants who may have the openinigs from these IBs?
 
soniya saxena
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Are there any such companies in Mumbai???
 
Neeraj Macker
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goldman sach is there in mumbai.
 
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At the end of the 60hrs/week; you sure will get very good bonus at the end of the year.




No.

How can you expect "very good bonus" by only working 60 hours per week?
 
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Neeraj,

There are two ways to land a job in NYC financial market.

1. Recruiting companies who are vendors to companies like GS, Chase, Morgan Stanley etc. Most companies rely on these recruiting companies for their resources requirements. Cap Gemini. Anderson, Modis are some of the big players who suply to most NYC IBs.

2. Networking - You should get hold of people working for these companies.

It is very important for you to be at "right place at the right moment" to get the job. People inside know it well in advance about when the job is opening up and what exactly they are looking for. This information is vital when you are going for the interview. You may want to tweek your resume for it to appear well suited for the job (without doing drastic things like adding an experience that you do not have for example).

It is an exciting way of life lot of pressure lots of money , opportunity to know interesting people and ofcourse less time to sleep, less time to think etc..


Good luck


Vasu
 
Neeraj Macker
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hey Vasu, u just said what i keep saying often...'right place at the right moment'. i wish i had some control over that.and also i agree that it is exciting to work long and under pressure provided u love the domain. i am mad crazy for finance.as for contacts , i have none and i cant get any as well. can u please elaborate more on the consultants who deliver to these IBs, give me some links to them.thanks.
 
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If you are interested in Software division of IB and not really in hardcore IB, you can join one of the many software companies working in financial domain. You could get more involved in the business side of things (instead of technology side of things).

Moving into real Wall Street company with no prior experiecne in finance will limit you as beginner and will take its own time. Not sure whether you would be willing to take that hit.
[ February 14, 2005: Message edited by: Sachin Mehra ]
 
Neeraj Macker
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sachin, i intend to join the software division of an IB, or is it that they outsource their projects to core IT companies?the point is that i wish to make a break into the field of finance without quitting my job, ie on job training in finance.later i can shift to an MBA in finance or continue to take up project design and requirements analysis.
 
Mark Herschberg
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Originally posted by Neeraj Macker:
hey Vasu, u just said what i keep saying often...'right place at the right moment'. i wish i had some control over that.



You have tremendous control over it. Since you're interested in finance, I'll use a finance analogy. You can't tell which stock is going to beat the market and trying to pick a single stock is like trying to find the right place at the right time. However, we do know that through principles such as diversification, you greatly enhance your chances of being successful while minimizing you risk. I can't tell you to show up to a JUG on a certain day. I can tell you that showing up to a large number of networking events (and remember: any event with more than onr person is a networking event) greatly increases your odds of being in right place at the right time.

If you're interested in IT finance. it's pretty obvious the places you want to be... go to IT events like JUGs, take finance classes at a local college or continuing education facility, start your own finance reading groups, go to websites and online communities related to this area, etc.

--Mark
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