You and some buddies are sitting around your dorm room one night talking about what to do with your $200K degrees. One says, “I’m going to be a CPA” and another says, “I am going to work for my family”. It suddenly dawns on you that you are going for a Business Degree and have told anyone and everyone that you are going to work on Wall Street. But do you really know what Wall Street is? You begin to ask yourself, “What am I going to do on Wall Street, exactly?”
Well, don’t worry, because you are about to read a book that is going to help you answer that question. This book is not one of those “How to Invest in the Markets” or “Ultimate Leadership” books. No names besides my own will be disclosed. My guidance is based on my real life experience. There will be no bashing of companies or people. It is a simple guide to assist you in understanding what Wall Street really is: how the firms are setup and organized; what are the jobs, roles, responsibilities, business lines, product lines, client bases, pitfalls, politics and functional departments that are out there. I have specifically kept this at a general and high level. There is much more detail about firms, products and groups to learn, but my goal here was to provide a broad overview so you can have a general understanding of the big picture. I have based this on structures that large firms on Wall Street tend to adapt, but it is important to note that every firm can and is sometimes different and does not always deal in the broad categories I will outline. Some are specific to products or business lines.
This book will assist you in defining what you enjoy and then aligning that with specific areas of Wall Street that will make you happy and ultimately successful. It will help you in looking for jobs that leverage your strengths, while working to minimize your weaknesses. It will give you some insight into and advice on managing your career. In short, it provides the details you need to determine if Wall Street is indeed right for you. I have worked on Wall Street for more than 20 years, and I was and am successful at what I do. I make good money and am always learning. I remember when I first started, though. I was scared to death. I knew nothing about Wall Street except that my dad worked there and people could make very good money doing it. Yes, even in bad times! The dilemma I faced was that I had no idea what “IT” really was. In my college days, what they taught didn’t prepare me for what the real world of Wall Street was all about. Sure, they provided tons of financial formulas and economic theories, but not one course I took explained to me how to manage politics or how to decide what job I was best for or even what the jobs were, for that matter! To this day I am amazed that for all the money you spend on degrees, there is no outline for the real world of Wall Street. Nothing to help you decide what is right for you. Nothing that details the skills required to be successful in one of the largest and most complex industries in the world.
Well, there is now!!