Thanks all for coming to OIG’s this week’s meeting. We had our Careers in Finance tutorial. Sophia already sent out the PowerPoint slide we presented through OIG mail list. You can always go back and look through it again
Firstly, Lingyi went through our portfolio with the updated situation in Market. The general performance of the market is weak and most of our stocks are
In general there are six sectors in Finance:
- Investment Banking
- Equity research
- Equity Sales & Trading
- Fixed Income Sales & Trading
- Asset Management
- Private Client Services
Wanda started talking about her experience during her summer Internship in Investment banking. She introduced everyday life of an intern in a small investment bank firm. As an intern, she was responsible for all the paperwork of excel chart and PowerPoint presentation and Public Information Book (PIB). She said you have to enjoy what you did to be able to survive the long hours in firm. She told about different kind of lifestyles depend on the locations and size of the firms. Any firms outside New York will have better hours and larger firm like Goldman Saches, Morgan Stanley have more opportunities in choosing clients and deals She also talked about some useful courses which are helpful for entering level analyst, such as Statistics and Accounting.
Sophia then talked about equity research from both buy side and sell side. The focus of equity research in buy side and side are different. In buy side, every researcher needs to focus on 30-40 companies in once specific industry. On the other hand, sell side has early hours and in specific industry. The working hours for equity research are more flexible sometimes you can even work at home. Sophia emphasized the importance of the Liberal Arts education in writing and communication skills in the equity research. Also, like the many other jobs in Finance, the ability to work with others and attention to details are very important as well.
Lingyi talks about sales and trading and fixed income. Traders have the most stressful bur regular hours. The most convention path in sales and trading starts from floor calling. An inexperienced broker can call up to 400 people on a list a day follow experienced people.
Yiran talked about asset management. Generally, this is a harder industry to enter with requirement of having assets to start with. Many portfolio managers have previous experience in various aspects of Finance industry. The bet way to break in this industry is do start to work for the Marking and trust department.
Wendy talks about Private Clients service briefly. Their primary responsibilities are to remind their clients of all the potential risks in the market and to help them make the best decision in maximizing profits.
For next week, we will be visiting our portfolio and make some decision about make changes about our portfolio. If you like gambling , we hope to see you at our weekly meeting on Wednesday night Taylor G ay 9 pm