Wall Street Job Primer

Book excerpt: *** READERS: I am incredibly pleased my book has sold well and made it into the curricula of some top tier universities. Notwithstanding, I WOULD GREATLY APPRECIATE YOUR FEEDBACK ON AMAZON. In an effort to provide more bang for your buck, I've started a blog (WallStreetJobPrimer.com) where I will answer any questions you have directly. Alternatively, you can email me directly (address is at the end of the Preface section on page XI, Thank you! >>>Overview (more complete description below)### Industry overview in layman terms### Investment banks, money managers, hedge funds and the jobs within### Chapter 5 dedicated exclusively to quantitative roles in the industry### Strategies and insights for landing jobs and maximizing success (including compensation!)###I wrote this book to help those who aspire to or already work in the financial services industry. While my original intention was to help out aspiring quants (like myself a bit over 10 years ago), I have geared most all of the topics so that they will be helpful to anyone that is relatively new to the financial sector. Indeed, the content is presented in a manner that requires no prior knowledge. I have done my best to describe each topic from scratch and use examples/diagrams to illustrate many points.###The first half of the book (three chapters) provides an introduction to capital markets and the financial institutions within. I start with an overview of these topics in the first chapter. Chapters two and three then describe investment banks (the sell-side) and the institutions that manage people's money (collectively known as the buy-side) in detail.###The latter half of the book focuses more on the actual jobs within these financial institutions. Chapter four provides detailed descriptions (overview, career potential, key factors, pro & cons) for most of the typical roles. It also includes a job compatibility scoring system that should help individuals figure out which roles they are best suited for. Chapter five is dedicated to quants. It discusses who quants are, theory versus practice, essential quantitative concepts, and specific roles where quantitative skills are required or highly desired.###Chapter six, the last chapter, provides a variety of useful tips and insights focused on landing the right job and then succeeding once you get your foot in the door. In the context of landing the right job, I discuss internships, advantages of advanced degrees, job searches, resumes and cover letters, follow-up, interview techniques, job offers, and more. I then discuss 'on the job' topics that will help you navigate the internal politics and move you along your career path. I give particular focus to what I label 'the fundamental theorem of the bonus system' which can help you maximize your compensation and promotion. Lastly I discuss strategies for career mobility since many people prefer jobs other than their own.