WSO Weekly Wrap-up

December 28, 2024

Hey WSO Monkey,

As we wrap up the year, it’s time to reflect on the wins, the lessons, and the coffee-fueled all-nighters that got us here. Wishing you a Happy New Year filled with success, sanity, and maybe even a little sleep! Start 2025 strong with the latest updates and discussions from the forum!

-Patrick

Top Discussions

  1. Q&A: Formerly @ Large Activist - "Worked at one of the large activist funds, happy to answer questions regarding my experience and provide advice as needed."

  2. Why Doesn’t BofA Fire Underperformers? - "Literally every other bank does it and coming from the inside, it is a slam dunk decision. Culling the bottom 10% or so would cut 10% of the cost with almost no loss in revenue. Leadership even admitted that 80% of the revenue is generated by 20% of the people at the MD level. At the associate level the bottom 10% are not staffed on anything because they aren’t capable of doing the work. Why does leadership refuse to fire? This “retention based” strategy ends up backfiring because it leads to dishing out low pay across all levels and all performance buckets, so the good people end up leaving on their own. So the bank gets attrition but it’s the wrong people. How can management be this big of blockheads?"

  3. LinkedIn Activity in High Finance - Why So Different? - "We all know how LinkedIn works, especially for students wanting to break in and juniors in IB. It’s normal to see them liking and commenting on everything. Friend gets a summer internship? Congrats in the comments. Someone they met at a networking event posts about an offer? Big like. Even small stuff like finishing an online certification can get engagement. For a lot of juniors, their feeds are basically a mix of likes on random company posts, articles they found interesting, or congratulatory comments for almost anything someone they know (even loosely) achieves. But here’s the thing: I’ve noticed that mid-level guys in PE (think associates at MF's) or SM hedge funds like Tiger, as well as senior bankers, don’t seem to do this. If you look at their LinkedIn profiles, you’ll see little to no engagement..."

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Top Discussions (contd.)

  1. GP’s Think They Deserve Ex BB IB Acquisition Analysts - "I never understood why some GPs prefer candidates in fields like IB. It makes sense if your strategy is to roll up other operators at a firm level but an analyst or associate at a brokerage will have more applicable experience and expect less comp for operators who work at the asset level. If you’re gonna trust JLL, CBRE, etc to sell your asset I don’t understand why you wouldn’t trust their analysts to work for you. It could be a pedigree thing but paying out the ass for candidates who need to adjust to asset level underwriting sounds retarded."

  2. Admin Christmas Gifts - Pay Them More or Stop Asking - "Stop saving their ass and start documenting incompetence, not doing what’s expected etc. Then you can start making a case. Don’t want to schedule meetings? OK, no meeting for anyone - if asked refer to admin. Don’t want to approve my expenses? OK, email to Partner you haven’t been paid and with you many others and ask what’s going on. Don’t want to do printing on time? OK, no books for the meeting - if asked refer to admin. Just make sure you’re very clear on what’s your and their responsibility - not only in your own mind but also the Partner’s. It’s clear the admin thinks they only work for the Partner (hence their behaviour)..."

New Podcasts Coming in Hot 🔥

  • Elon Musk: The Richest Person in History?

  • The Impact of Trump’s Re-election on the Stock Market

WSO Alpha: Latest Updates 📈

We uploaded the October brokerage report for those of you curious how we did.

Hot Jobs 💼

Senior Associate / Vice President - "We are seeking a Senior Associate / VP level professional who is actively engaged in the lower middle market with a proven track record of executing direct deals. The ideal candidate could come from a private equity firm, family office, investment bank, or independent sponsor..."

Project Finance Associate - "This is a career-level role, and we expect the Project Finance Associate to grow and find new ways to impact our organization, contributing to Zanskar’s broader financial and capital allocation strategy..."

Investment Banking Analyst - “A boutique IB practice focused on MM M&A. Lean, mean, entrepreneurial team of highly motivated deal makers who all ‘punch above our weight’. While other investment banks have large teams working around the clock, we work smart in small teams, and achieve outstanding results for our clients and still get home in time to see our families. Industry generalists…“

Investment Analyst - "...invests in privately held companies across media and entertainment, including film and television, digital media, creator economy, video games, live experiences, sports, and related services and enabling technologies ..."

Director of M&A - "...formed to be the best long-term home for independent companies that provide unique data, content or information focused on small but important niches and are owned and operated by founders."

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."

On Deck - Training 🎓

All in Eastern Standard Time

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!




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