Word: shemmer
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Dates: during 1999-1999
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...haven't even left Shemmer's apartment yet, but it looks good...
...never wanted to be a banker," Shemmer says. "But I thought they were the nicest people...
...Shemmer lived in New York growing up, but was born in Tel Aviv--there's an Israeli flag in his bedroom and a military uniform in his closet. A psychology major at Penn, his only real business experience in college came almost by chance: one summer he found a job at an Israeli Internet start-up, as a secretary, but the strapped company promoted him on the second day. Shemmer's job at Broadview was equally unplanned. Unlike better-known investment banks, Broadview limits its business to the high-tech sector--Internet start-ups, Web-based companies, computer firms. Broadview...
...analysts I meet emphasize how laid-back Broadview is. "My hours are better than my friends at any other bank," Shemmer says--a mere 75 or 80 hours a week, compared to as much as 100 at larger banks. At the biggest firms, the partners conduct "bed checks"--stopping by each cubicle at 9 p.m. to make sure analysts are still at work. At Broadview, I'm assured, you might even get out the door by 7 on a good day. The style is strictly "business casual," which means no one under 30 wears a tie. Shemmer stresses how friendly...
...money can't hurt either. Shemmer earns $45,000 a year plus $20,000 to $25,000 in annual bonuses, which are based on evaluations from higher-ups. (The median income of American households was $38,885 last year, by the way.) At that salary, Shemmer can afford his portion of the $2,400-a-month apartment he shares with a college friend. Still, everything's relative. Although Shemmer invests his annual bonus, he spends the rest. "I break even every month," he confesses. His three main expenses: rent, alcohol and cabs. Shemmer spends most Friday and Saturday nights partying...