WSO Weekly Wrap-up

April 11, 2026

Hey WSO Monkey,

If your office feels like a toxic scene from Office Space, we see you. This week we’re looking at why people stay in the IB grind, the jump from MBB to PE, and why everyone at your fund is secretly looking out for themselves. Grab a coffee and catch up.

-Patrick

Top Discussions

  1. Curious as to Why Anyone Stays in IB After Your Analyst Years - "I like working with clients and the intensity. I like when a CEO comes to me with a problem and asks for advice. I like meeting people, building trust and relationships and being "the guy" for my universe. When there are teams of very smart and hard working people under you, and you have good working chemistry, the fun parts of the job really start to come out..."

  2. Q&A New Mentor | Senior Buyside Analyst – Equity Research, Healthcare Coverage & Breaking Into the Buyside - "I'm a senior investment analyst at a large institutional fund covering healthcare. My day-to-day involves deep-dive fundamental research, building investment theses, IR meetings with company management, and working with sell-side brokers across the coverage universe. I've been doing this long enough to know what genuinely separates candidates who break in from those who don't..."

  3. Is It Still Worth to Go From MBB to PE? - "Used to work in MBB and went into MFPE. I would only recommend going into PE if you think you want to be an investor (I.e. does the role actually seem interesting to you / intellectually stimulating). If this is just a prestige chase, I would stay in consulting for all the reasons you mentioned (at EM level your making a comparable / slightly lower amount to MFPE associates for orders of magnitude better lifestyle)."

What do credit cards, rewards, gamification, and personal finance have in common? One high profile startup: Coverd.

This a16z backed startup might actually be able to say “we don't have any direct competitors”.

Coverd is a category defining product led by former Wall Street traders Albert Wang and Eric Xu (Morgan Stanley & Hudson River Trading).

The app allows users to track all of their spending in one place and win back their credit card purchases via both skill and chance based mini games.

Soon, Coverd will launch the first ever credit card to offer up to 100% cashback (zero fees) on every purchase. Card users will be able to interact with every element of the app using their points.

Not to mention they host free, contest style giveaways on top of it all, and currently have $10,000 Super Bowl LX tickets listed. Free.

Top Discussions (contd.)

  1. Why I’m Ditching Vanilla PE for Restructuring (RX) - "I'd recommend doing your due diligence before making a move into RX. Look up the returns for some distressed funds. They're ugly. You also have all the headaches of dealing with different constituents at the table and could end up with close to a 0 fast if you get LME'd. Distressed is a better space when there's a major downturn (so ~1-2 years out of every ~10 years) but otherwise you're grinding it out on businesses that have terrible outlooks and are likely swirling the drain. It's a rough life."

  2. The Math They Don't Teach at Wharton - "Managing Director at a top PE firm breaks down the interview question he uses to separate top candidates."

  3. Do You Trust the People at Your Fund? - "Never trust anyone, never vent to anyone, never expect anything that is not explicitly in writing. People in PE come off as vanilla agreeable and pleasant. But everyone in this industry is at minimum very transactional and self interested and, at worst, high ego and vindictive. Do not get deluded by charm, niceties, or the veneer of pleasantry. Manage people’s perception of you carefully and be careful not to get caught in the crossfire of politics and territorial disputes between partners. More often than not, they’re happy to sacrifice a junior if it means keeping the peace among partners who, despite working together for decades, have the knives out for each other. And, most of all, look out for yourself. Keep your own network alive, take interviews for lateral opportunities to stay fresh, focus on building skills and experience that makes you more valuable. Don’t put all your eggs in one basket and give your firm sole control to make or break your career."

  4. What is Your #1 Favorite Movie? - "Having one favorite is tough. (thank you True for Office Space, it's a classic)…"

New Podcasts Coming in Hot 🔥

  • How I Broke Into GOLDMAN SACHS | Non-Target School

  • How to Break Into Goldman Sachs TMT Investment Banking With No Connections

  • Zero Finance Background to JP Morgan: The Ultimate MBA Career Pivot

Hot Jobs 💼

RE Credit Analyst - "The Analyst will assist with loan underwriting and portfolio management functions, working closely with senior originators and management..."

Associate Turnaround and Restructuring - "In this role, you will collaborate closely with professionals at all levels and across a wide range of industries. You will play an active role in diagnosing business challenges, conducting rigorous financial and operational analysis, building financial models, and delivering insights that support strategic decision-making..."

Senior Analyst, Private Equity Operations - "The Senior Analyst, Private Equity Operations leads the operational management of private deals, from approval and settlement through ongoing lifecycle events such as IPOs, restrictions, corporate actions, and liquidity events..."

Investment Banking Vice President - "This involves reviewing AI outputs for correctness, methodological rigour, and commercial relevance—then building evaluation criteria and model answers that reflect how things are actually done at top-tier banks…"

Private Equity Expert - "Mercor is recruiting U.S./UK/Canada/Europe/Australia-based Private Equity Experts for a research project with a leading foundational model AI lab."

Financial Modeling Expert - "In this highly visible role, you will deploy your deep expertise in financial modeling, valuation, and deal structuring to support major investment decisions across diverse sectors..."

WSO Mentor - "Are you an experienced professional with a background in investment banking, private equity, hedge funds, S&T, venture capital, asset management, equity research, quant finance, corporate dev, real estate finance, or top-tier consulting? Passionate about mentoring the next generation of leaders? Wall Street Oasis (WSO) is expanding its Mentorship Program, and we're looking for outstanding professionals to join our mentor roster—an elite network supporting students and young professionals as they prepare for high-stakes careers. Whether you’re looking to give back, stay connected to rising talent, or sharpen your coaching skills, this role offers you the chance to make a meaningful impact, remotely and on your schedule..."

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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