Has any one heard of the New york school of finance coveted internship program? where they place you as an intern in a wall street firm while giving training on certain IB topics.
They charge a heft $10k for that. Just wondering if this would help someone to break into the industry. After all would the intern help in getting some interviews for full time
Any thoughts or reviews would be appreciated.
To answer your question, that sounds like someone is making money on the side and colluding with the firm they are placing you at creating a pretty big ethical dilemma in my opinion. Are you saying all you would have to do is pay 10k and you are guaranteed a spot in an internship? Don’t really like the sound of that.
Also, it’s your choice but why are you pursuing a CFA charter if you want to work in IB? much less spend 10k on an IB internship.
Looks like a good way to separate rubes from their money.
It does sound that way. Could be a complete sham or fairly legit as few online reviews mentioned.
A decent portion of charter holders do work in IB. Didn’t understand why pursuing CFA is a roadblock…
It’s not a road block. But it is unnecessary to hold a CFA charter and work in IB/PE nor do I really think it adds very much value in separating you from another banker who doesn’t hold one.
Sounds familiar to this one firm called Alpha Capital Corp. The guy basically calls people up and ask them to pay him for internship opportunities. I’d stay away.
I charge only slightly more ($20K), for a real life IB training program for 1 week. You can put it on your resume too.
PM me for details.
LOL! I ll pass on that… Good luck on ur elite program…
i’ve heard of them for a risk engineering program. Bunch of people from a Canadian Uni trying to make some $$ - kinda similar to the cfa but more expensive and def lesser known
What is this “internship” thing anyway? I’m guessing that they just let you hang around in some office for a couple of weeks so you can put it on your resume.
brah, it’s a paid internship
You pay them to work. Pretty good deal (for them lol)
Interns are negative work, from my experience. They don’t know how to do anything, and require attention because they keep asking questions.
You can charge those hours as “mentoring/Career Development”
I don’t think everyone takes the exam because he/she needs to. I’m studying mainly for fun…
Well you are the first person I have ever heard say that. Not kidding. But I wouldn’t bet against there being others who view the exams as “fun” and/or spending countless hours of their free time and life on them lol
Well the career I’m in (management consulting), having or not having the charter has no bearing on my next promotion or raise. I didn’t know squat about options and derivatives (among many other things in the curriculum), and now I can at least have a conversation with someone about it. I found some aspects really easy though (got a Masters in Econ, so most of the Quant and Econ stuff were a breeze), so it didn’t take up a lot of time (or money).
And it’s not entirely useless either. Working full-time tends to lead to auto-pilot mode where you get comfortable doing the same shit day in day out. Studying for these exams has been a nice challenge so far.
In all honesty, I have very little idea what consultants do besides telling executive management what they are doing wrong. haha. wouldn’t the corporate finance sections of the curriculum be the most valuable if you were to apply them to what you do? (again I am ignorant to consulting mostly). Speaking of Options though, I just had a greatttt experience with trading a long straddle on Fitbit options the past few days *sarcasm* lol. But I did have some great results with a different straddle I employed the prior week, so I guess it levels things out!
Quant and Econ are very useful (we do a lot of forecasts that involve econometrics, and cash flow analysis that requires NPV/IRR etc). Check stocktwits.com/symbol/fit if you want some good laughs about long baggies in fitbit. People have lost a lot of money on this.
That’s pretty cool, so basically when their in house FP&A team is doing a sh*t job? haha
Oh yeah, I have seen the stocktwits page for FIT haha. Fortunately, I only had a small straddle. Nothing crazy. Never messed with it before now. Can’t imagine “smart money” who jumped in around 50 and have held into single digits (really hope they dumped it before then). I was just misinformed. Didn’t realize they warned investors last month about the quarter, so the move was priced in and now ppl see value in it as a spec buyout target/trading at low relative multiples. Don’t think I would have opened it if i knew…Oh well, need to do better research next time.
We’ve all been there *cough* (Valeant Pharma)