Guides for careers in Management consulting

Posted on February 20th, 2008 in Career by Warren

Not as thorough as Gary’s guide to financial careers, but heres a few.

Careers in Management Consulting by UGA

Consulting Portfolio by BU

Consulting by MIT

Careers in Management Consulting by Wetfeet and Columbia

Consulting Roadmap by Univ of Chi

If you find a comprehensive guide please let me know. Thanks!

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A useful guide to a career in finance.

Posted on February 20th, 2008 in Career, Finance by Gary

Write-downs to Write-ups

Posted on February 20th, 2008 in Finance by Gary

It’s so odd how today’s write-downs can be tomorrow’s write-ups. The difficulty lies in part in the increasing use of “market values” to determine prices for assets that companies aren’t necessarily selling. This has become especially tough since the debt crisis has caused large parts of markets to seize up, meaning there often aren’t any prices to use as reference points.

An alternative is to allow management to use modelled ”long-term values” instead. However this is easily abused. In fact, this practice allowed Enron Corp. to book profits that didn’t exist.

Thus, today’s write-downs can be tomorrow’s write-ups if “market values” change when renewed demand stimulates the assets’ values. It’s as if an item you own is worth 1$ when it’s unpopular and 5$ when it comes back into style.

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People skills for work and beyond

Posted on February 20th, 2008 in Career Development by Warren

“LESSON #3: Joe didn’t let people get a word in edgewise. He’d talk for five minutes without stopping. Of course, everyone thought him rude, egotistical, and stifling of the exchange of ideas.

Follow the Traffic Light Rule: During the first 30 seconds of an utterance, your light is green: You may speak without worry. During the second 30 seconds, your light is yellow: Chances are, your listener is ready to respond and waiting for you to finish. After the 60-second mark, your light is red. Yes, you’ll very occasionally want to run a red light — when you’re saying something important that couldn’t be broken up into two parts, allowing your listener to respond to the first part. But usually, at the one-minute mark, you should shut up or ask a question.

After you stop talking, half the time, shut up, half the time, ask a question such as “I’m not sure I was clear?” or “I’m wondering if that might apply to Project X?”"

Source: Kiplinger.com 

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