WSO Weekly Wrap-up

January 17, 2026

Hey WSO Monkey,

Hope your week’s treating you reasonably well (or at least not personally attacking you). The forum was in that classic WSO zone this week - people comparing notes on recruiting, thinking through longer-term career moves, and debating how AI changes the day-to-day for juniors vs seniors. Some good perspective if you’ve got a few minutes.

-Patrick

Top Discussions

  1. On Here Since I Was 12 - "I started browsing WSO around ~10 years ago when I was in middle school. I am currently a senior on the cusp of graduation with an IB offer on a full-ride. Coming from a working-class background, I always dreamt about not worrying about paying the rent or going on international vacations - probably went a bit over my expectations with this career. It goes without saying that I would not be where I am without this website..."

  2. We overhauled our Forward Curve to be the most powerful, interactive tool in the industry - “Fully interactive, instantly downloadable, and packed with the live data you need. It’s the coolest forward curve in the biz—toggle indices, overlay historicals, and export data in seconds. Check it out for free.”

  3. Why the Wealthy Are Quietly Ditching ETFs - "For years, exchange-traded funds (ETFs) have been the go-to investment strategy for everyday investors. But ETFs aren’t built for tax control. So, while money continues to pour into them, private wealth firms are shifting. Learn what it means for you."

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. Will AI Replace VPs? - "The difference between VP and ASO cash comp is a rounding error to funds especially when you take into account that there's generally more ASOs than VPs which would make cutting either group a wash from a normalized expense standpoint (exl. carry calcs for now). It makes 0 sense that they would cut the VPs in favor of less experienced ASOs over a few points of carry IMO. What the VPs take is a de minimis % of the pie but what you're getting is someone who has gone through the reps and can actually quarterback processes. Just "having AI" does not mean an ASO can produce the same work product or make the quality decisions of a VP, and the counterfactual would be the AI allows the VP to more easily automate the ASO's work and free up time more important workstreams..."

  2. PE Fund Differentiation - "Sector specialization and operating partners who know the industries will continue to be more important going forward. The actual investment process is becoming increasingly commoditized. For the most part we all see the same value levers and risks, and there are too many of us chasing the same assets that has resulted in prices being pushed higher and higher. If you're going to pay the highest price, you need a real angle and some sort of differentiating factor that others don't have."

  3. Buying a “Mid-Street” Business - "I’m at a place in my life where I’m fairly certain I do not want to be a career banker but want to do a self funded search to go and buy a “mid-street” business (I saw a broker use this term to describe businesses that aren’t Main Street but aren’t at the $1mm EBITDA mark to be lower middle market). I’ve got a fair amount of transaction experience but it’s all been corporate banking or public finance save for two internships. I’ve got ties to a small city of about 100,000 which seems to have a number of targets that are of interest and I know the brokers, accountants and lawyers being from there..."

  4. Moving Out of Software PE - "Focused less on specific funds. My long-term view is that vanilla enterprise SaaS (CRM, HRIS, ERP, etc.), which is at its core just a UI sitting on top of a database, will not exist at 80-90% GMs as the cost to develop good proprietary applications compresses with the rise of more sophisticated / compliant / safer AI-enabled application development. We are still far from this being the reality, but I don't want to spend the next 10 years of my life fighting for carry in funds that are overindexed to this risk. Which in my opinion is most enterprise SaaS funds..."

  5. On Cycle Results - "On cycle recruiting finished for this cycle almost a week ago, curious to hear results. Name bank/group and where they signed."

New Podcasts Coming in Hot 🔥

  • Mentorship, Banking & Big Deals | A Real Career Story

  • From Italy to Saudi Arabia: Claudio’s Global Finance Journey & Lessons in Mentorship

  • Breaking Into Investment Banking: Vamshi’s Journey from UChicago to Private Equity Success

Hot Jobs 💼

Remote Project for Investment Banking / Private Equity Professionals (up to $140/hr) - “Handshake is recruiting Investment Banking and Private Equity experts to contribute to an AI research project with leading AI labs. Participation is flexible and fully remote.”

Investment Banking, Private Equity, and Hedge Fund Professionals - “AfterQuery Experts is hiring IB/PE/HF professionals with 1-5 years of experience for remote, part-time roles ($100-$150/hr; 20-40hr/week). You’ll apply your foundation in accounting, valuation, and financial modeling to create high-quality content used to train AI models.”

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.."

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

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."

Insights Senior Manager/Principal, Private Equity - "The Insights Private Equity group at Dialectica plays a key role in driving growth and scaling an emerging business unit within the company..."

Pre-MBA Private Equity Associate - "We are seeking a Pre-MBA Private Equity Associate to join our team for a Summer 2027 start..."

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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