Word: analysts
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Dates: during 1990-1999
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...half-dozen Yalies sit stiffly in black suits and red ties. "No one told you guys it was business casual?" one interviewer says. Shemmer tries gamely to strike up conversation. "So what do you guys do at Yale for fun?" he asks. "Math club? Chess club?" Another analyst rolls her eyes. "It's the same jokes every year," she complains. Shemmer is unbowed: "Seen any good movies lately?" Murmurs. "Quiet crowd here." Just before the presentation starts he manages to pique their interest with a discussion of video games. When everyone quiets down, Broadview's recruiting director enthusiastically describes...
...lack of women in the office is especially mysterious since Broadview seems committed to other kinds of diversity--several of the analysts are Indian or East Asian or Middle Eastern (although I don't notice any black analysts). So why the gender imbalance? Analysts speculate that most women are turned off by the aggressive, combative nature of investment banking. "The environment can be a little crass, but it's fun," one analyst tells me. "There's a certain type of woman who can work here, and a certain type who can't." Shemmer echoes that sentiment: "In general I-banking...
...lunch tables disperse quickly--everyone's too busy to hang around--and Shemmer heads back to the same Web research he did this morning. I wander around the office to see what the other analysts do. I spend time with one employee who specializes in writing fairness opinions--reports outlining for shareholders whether they're getting a fair deal in a merger. The number crunching and boilerplate legal writing seem dull, but it's still a high-wire act--shareholders who feel cheated can sue Broadview. "It's a pretty amazing responsibility for someone my age," the analyst says...
...looks identical to Shemmer's--the same L-shaped desk, same chair, same color scheme, even the same boxes scattered on the floor. On the filing cabinet is the same row of tombstones (the Plexiglas trophies awarded when a deal is successfully completed). The uniformity seems depressing, but this analyst says he likes working at Broadview because it's actually more exciting than most jobs. He left a computer programming position at Merrill Lynch because the projects were too long-term and slow-paced. What's more, he thinks the variable nature of his job at Broadview will make...
...sterling resume is as important as a generous salary. Analysts just out of college sign up for two-year contracts, and it's understood that most will move on after the contract is up. After that, there are four main routes: An analyst can stay in investment banking and seek a promotion, go to a venture capital firm, to private industry, or to business school. Industry is the most popular choice, especially with 25-year-old Internet millionaires cropping up everywhere--some analysts even leave early for Silicon Valley. And more and more graduates are skipping finance altogether to found...