We aim to create a place for aspiring investment bankers and finance professionals to ask questions and progress in their professional development. Current Wall Streeters can also take advantage of the various resources the site has to offer.
The vast amount of free information and study guides that the site offers help to level the playing field for anyone wanting to break into the industry.
The idea for Street of Walls came from a current Wall Streeter with 10 years of mentoring experience. He decided to share what he learned from his time in finance and voila! A strong membership base was created. People consistently let Street of Walls know that they offer the best material available.
It makes complete sense when you think about it, though. These guys actually still work on Wall Street whereas many of their competitors are writing guides based on their fond memories of their time in the industry.
Street of Walls has a phrase that sums up their view on how to break in: “ground and pound.” It simply means you have to pound the pavement and be willing to put in more work than the next guy.
Being organized and process-oriented are the other two essential attributes. It’s really a numbers game. Go after every bank you can find. Apply and follow up by sending thank you notes, but remember to stay organized – it’s the only way to manage your way through this difficult process.
Street of Walls has tips for anyone thinking about higher education. Whether or not to get an MBA depends upon your employment goals. An MBA won’t help you get a job at a hedge fund, but you will probably never get to the top private equity funds without one.
Going back to business school has its own set of benefits as well, though. In addition to maturing, you will have the chance to increase your network dramatically, and to work on your presentation and research skills. Value added is always value added.
Wall Street has been changing over the past years and everyone has a different take on what’s in store for 2012. The professionals at Street of Walls see high volatility in the stock market driven by high levels of debt abroad and in the U.S. This will undoubtedly put pressure on banks, which will lead to more layoffs and a difficult hiring environment. M&A volume has been low and can’t foreseeably go any lower.
While banks may be cutting their work force, multi-manager hedge funds such as Citadel, SAC, and Millennium are doing well and could potentially be hiring. It’s difficult to say where Wall Street is going, but it seems safe to say that market is going to be rocky for the months to come.
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