Quarter Life Crisis

It’s taken me a long time to realize this, but the best way to meet people is to coordinate events.  More specifically, if you are interested in meeting more of a particular type of people, then organize an event that would attract them.  For example, if you’re interested meeting entrepreneurs, organize an event for entrepreneurs headlined by successful entrepreneur key note speakers.  Most successful entrepreneurs love talking about their experiences and successes and are interested in mentoring the aspiring entrepreneurs.  And on the other side, aspiring entrepreneurs love (or should love) meeting people who have been there and done that.  There is a natural attraction that occurs between these two groups, and being the organizer, you will find yourself at the center of both.

Well, that point is arguable, but in this instance, cheaters didn’t prosper. In fact, they were banned from taking the GMAT ever again. Which means they’re banned from B school.

“More than 1,000 prospective MBA students who paid $30 to use a now-defunct Web site to get a sneak peak at live questions from the Graduate Management Admissions Test (GMAT) before taking the exam may have their scores canceled in coming weeks.”

I am not sure what good seeing GMAT problems would be because everyone gets different GMAT problems depending on how well they are doing on the test. It’s computer adaptive so each question that the test taker gets depends on how he/she scored on previous questions. As far as seeing real GMAT problems, anyone can buy sample/retired GMAT problems that have appeared on previous tests from GMAC. Manhattan GMAT, Veritas GMAT and other GMAT prep courses all use material from GMAC. So, the sad part is that the people who paid for this “unfair” advantage and had their MBA dreams shattered probably didn’t even have an “unfair” advantage. Read more here.

Well, at least that means the applicant pool will be 1,000 6,000 candidates lighter in the next few years. =D

Online Series in Investment Banking

The Online Series in Investment Banking provides a broad and comprehensive curriculum that exposes students to the many facets of the investment banking industry. The concepts and analytical tools offered in this sequential program lay the critical groundwork for graduating college seniors who are planning on pursuing a career on Wall Street in corporate finance, equity analysis, or investment management. The program also prepares professionals in other fields to facilitate career changes and become established in the highly competitive and rewarding investment banking profession.

Offered in collaboration with Global Window Partners, the Online Series in Investment Banking consists of a series of online self-study courses that are presented in an intuitive, easy to navigate format allowing students to effectively absorb the material. Each of the six core courses consist of three to five self-study modules, with approximately 7.5-15 hours of learning time per course. The individual elective modules present approximately 2.5-3 hours of learning time per module.

Students successfully completing the Online Series in Investment Banking receive a testimonial certifying their completion. Successful completion is defined as successfully completing the performance assessment and Knowledge Review questions, Q&A, and Quiz.

Note: It is highly recommended that students complete Accounting X 1A and X 1B or its equivalent, as well as X 100 Business Economics or its equivalent, prior to enrolling in the program.

Download the PDFs here for:

• Online Series in Investment Banking

Required Courses (Six Courses):

Elective Modules (Choose Four):

Students may enroll in the online self-study courses anytime during the regular academic quarters. Upon enrolling, students are automatically directed to the courses and, after initial login and launch of module, are given access to each individual module for a total of 21 days or a maximum of seven (7) launches, whichever comes first.  Windows and high-speed Internet connection are required.

For more information, call (310) 206-1689 or email echerkez@uclaextension.edu.

To view a list of all online self-study courses available this quarter click here.

For frequently asked questions about our online self-study modules click here.
Counseling Fee/Application Fee: $ 75

Students successfully completing this program receive a testimonial certifying their completion. “Successful completion” is defined as earning the grade of C or higher in all credit bearing courses of the curriculum, as well as successful participation in any experimental non-credit courses, unless more rigorous requirements are stated above. The repeat of courses is permitted.

To establish an enrolled status in this program, click here.

Open Enrollment or Apply for Admission?: Open Enrollment
Federal Financial Aid Available: No
Extension Grant Availability: Yes
Estimated Duration (Full Time): 2.0 years
Internships Available: No
All courses available online: Yes
Program ID: TT305

Please note: counseling and application fees, if any, are not refundable, and may be renewable if completion is not attained by the estimated normal progress as determined by your advisor. Students may be subject to retroactive assessment of counseling fees if course work is already underway.

All programs at UCLA Extension require professional-level English language proficiency in listening and note-taking, reading comprehension and vocabulary, written expression, and oral presentation. If you would like to refine your English language proficiency prior to beginning one of our programs, we offer English as a Second Language programs and an array of classes in Communication and Learning skills.

UCLA Extension reserves the right to amend its training curricula by providing course substitutions that in the opinion of our staff are of equal or enhanced educational value. Within the temporal limits covered by counseling fees, students are entitled to complete programs with the curriculum substantively fixed as of the date they enroll.

UCLA is accredited by the Western Association of Schools and Colleges (WASC). The courses within this program have been developed and are administered in accordance with regulations of the Academic Senate of the University of California.

After a few interviews, here are my impressions on a large firm vs small firm in the financial sector -

1. Small firms have had more prying questions. More details for every word on your resume. They are more specific in their needs and requirements for you. Small companies simply don’t have the budget to send you off to analyst/associate training for 3 months. They want you to have the required skills before you show up, and they want to use you right away.

2. Large firms are just the opposite. More structured, yearly internship rotational programs, months of training if necessary. More general (but can be equally difficult) questions. Willing to shape you into what they need, willing to wait for you to develop necessary skills.

Conclusion? QLC’ers should start off at a big firm to utilize the training and resources. The common saying holds - Better to start off big then go small - difficult to go from small to large.

Here’s a list of tech’s top 10 worst jobs.  It just goes to reconfirm that you don’t need a  college degree, let alone an advanced graduate degree, to do a job, you just need them to land you these jobs.  Even if its a crap job, you’ll still be working for google, facebook, yahoo… It may not be fun, but someone qualified is going to do it. Here’s one example - an operations and sales account management type position at google.

I recently interviewed with an investment management firm based on the west coast. They are a traditional stock&bond money manager with more than 2 decades of outperforming their respective benchmarks. Although they also offer some leveraged/alternative funds, they are primarily fixed income, with equity funds growing as well.

My impressions: The job is not so much technical, but “fit with the company culture.” Bottom line - They have to like you. We had a chat about California, Southern vs Northern, UCLA/USC, etc.

Some introductory (1st round) questions:

1. Circumference of the Earth? (Use time zones, known distances/speeds)
2. Square root of 0.9? (Use the fact that sqrt of numbers < 1 increase, and sqrt of 1 is 1)
3. How many pennies fit inside this cup? (Use approximation of a roll of pennies from the bank is 50c worth, or 50 pennies)
4. Explain the concept of a linear equation in layman’s terms, as to your grandma.
5. Where have you visited recently? (London) What is the currency? (pound) Exchange rate? ($1.97) If I buy something in pounds how much is it in dollars?

There were more, but I cannot remember them anymore.

“The demand for VC jobs is way in excess of the supply and probably always will be.”

That just about sums it up. It’s understandable why VC jobs are so highly coveted. I’ve had a flavor of VC and I must say it is pretty exciting. You learn about different industries on a daily basis, work with all sorts of experienced and brilliant people and get a lot of exposure in the community. However, getting a job as an associate at a VC firm is tough. Probably one of the toughest jobs to get. Every year, thousands of MBAs, burnt out I-bankers, and management consultants at the end of their 2 year rotations are looking to move into VC. These people are the creme of the resume crop so competition is intense.

This chart shows that job posts for VC’s are dropping substantially making supply demand gap even bigger.

“When you begin your career, focus on opportunities and learning prospects, not the money. If you choose correctly, the money will come.”

Richard Deutsch
Head of European Credit Research,
BNP Paribas

The Robert Toigo Foundation

They offer a Fellowship for minority students pursuing Finance. It is open to MBA/MFE/etc students.

Personal: Thomas Fang … born in Austin, Texas … parents are Jyh-Chen and Chi-Jen Fang … has a younger brother, Patrick … hopes to attend grad school and receive his MBA … intends to major in electrical engineering or computer science.

Hmm, that last line sounds awfully familiar..