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Answer to Salary Dilemma

Posted: August 1st, 2002, 1:54 pm
by Johnny

Answer to Salary Dilemma

Posted: August 1st, 2002, 4:23 pm
by James
Scale vectors from unemployed to employed, all dimensions. Map "employed" space. Matrix algebra problem.I think the Goldman people, i.e. those individuals that work there, are quite capable of looking after themselves without blankets, cupcakes, or nurturing from a wise pup, hee hee. However child-like they appear, they are, after all, persuing their own interests and taking their own risks and making their own trade-offs on their own utility curve. Which would include either being happy, or being able and willing to ape being happy. And knowing that the firm's ethos encourages a veener of focus that may fall outside of an obvious hermeneutic as to the true complexity of their identity and personality. For which these agents are compensated because it demonstrates utility to that firm.In finance, many a fan of Greek tragic literature talks about hockey in the elevator. A poetics of the will. And placing you closer to that central intersection of all dimensional vectors that construct the space of the gainfully employed.Talk about grades less and what the Islanders are gonna do in your next interview is my adivce.

Answer to Salary Dilemma

Posted: August 1st, 2002, 4:54 pm
by train
Thanks for the advice Stork. I always appreciate when I get advice from individuals who are senior to me because I really don't know too much out what's out there. I'm a *very* frustrated 21 year old in college (I had a bitch of a time this past internship season and came out empty handed). That can certainly crush one's morale. You're right though. Simply knowing how to solve a PDE does not make you king. I certainly don't endorse any such thinking that claims otherwise. I myself am not a genius in math by any stretch of the imagination, but I definitely have a knack for it which has served me well throughout my college career. You mentioned that you feel as though I'm somewhat "thin-skinned" and don't handle criticicsm too well. Well at the risk of being counter productive, let me defend myself I love for people to keep me on my toes and rip me a new one when I get out of line, but I have a problem with personal attacks that serve to no end. I do have a little bit of a temper (i'm working on controlling that) and LOVE to argue. So anytime someone says something that I find ludicrous and/or debatable I like to respond in hopes of starting some sort of healthy argument. I plan on looking for full time employment in the fall in the investment banking industry (perhaps as an analyst). I'll also be looking for other types of jobs on wall street (depending on what I'd be qualified for). I'll also be applying to law school at that time (hey, i gotta hedge my risk). So, I figure I should hopefully have something lined up by the fall of 2003. At any rate, keep the advice coming....

Answer to Salary Dilemma

Posted: August 2nd, 2002, 9:21 am
by Johnny
"And knowing that the firm's ethos encourages a veener of focus that may fall outside of an obvious hermeneutic as to the true complexity of their identity and personality. For which these agents are compensated because it demonstrates utility to that firm."James, are you saying that it pays to be a robot?

Answer to Salary Dilemma

Posted: August 6th, 2002, 7:35 am
by James
QuoteJames, are you saying that it pays to be a robot?My friends in sales (and yes I do have some) say it pays to drink "whatever the client is drinking."There also appears to be a high correlation with letting your client win at golf, laughing at his jokes, complimenting how lovely his wife/girlfriend is, buying him or her dinner, etc.

Answer to Salary Dilemma

Posted: August 6th, 2002, 8:00 am
by James
QuoteHaving spent most of my life on the (wrong/right) other side of the pond, I am always curious to understand this GPA (et al.) thing. Recently I had to fill in a job application form and a query about a whole list of these things (SAT, CAT, MAT, GPA, PSI... ) none of which I had a clue about, so I just put "Did OK". Can someone enlighten me on the exact definition of some of these metrics?I was equally baffled when I looked at a Brit Phd appliction and it said "This program only accepts those who have take firsts."GPA is a 4 point scale that often translates into letter grades. Like Bond ratings, they have + and - signs attached to them, except A which is top.There are other scales, and don't get me started on "grade inflation" at US ivies where everyone graduates with a 3.0 or better. But roughly:4.0 = A = 95 - 1003.8 = A- = 90 - 943.5 = B+ = 86 - 893.0 = B = 80 - 85etc. a GPA of 2.0 is known as a "gentleman's "C"" and is probably the same as the third class degrees toffs and upper class twits take from lounging around taking up space and drinking with their tutor before retiring to their clubs or hunting for the rest of their lives. A GPA of 1.0 means you are a foreign upper class twit who doesn't speak english, took a forth class degree, and spent your university education drinking and bedding whatever you could before returning to daddy's empire in your country of origin, usually on the five-year plan.MAT equals the Miller Analogies Test. It is used as a metric of intelligence, but it has been demonstrated that you can study for it and get a high score. SAT = Scholastic Aptitude Test and is the rough quivelent of A or O levels, a high score roughly equals bound for a good school.Lies follow: PSI is per square inch, a metric used for deciding how much to deflate your ego when joining a prestigeous firm by making you get coffee, make copies, and shine shoes before you are allowed to be seen in public where you punch the "advance" button on the computer for Powerpoint client presentations. The shorter your skirt, the faster you get promoted to this last position, although shrtskrt often = terminal position = Mrs. Which brings us to CAT = "Cutie Available for Traders" which is the chief metric measure of potential interns. The higher your CAT score the more likely you are to be hired and the less you have to do, arrive on time, etc.

Answer to Salary Dilemma

Posted: August 6th, 2002, 4:17 pm
by eredhuin
QuoteOriginally posted by: James<blockquote>Quote ...snip... roughly:4.0 = A = 95 - 1003.8 = A- = 90 - 943.5 = B+ = 86 - 893.0 = B = 80 - 85</blockquote>On that grade inflation thing, some places (e.g. Cornell University) define A+ as either 4.15 or 4.3 (I forget), which makes having a 4.0 grade average a bit less tricky.Another measure is the GRE - graduate record exam, which is used for getting into US grad schools. There are "General" and "Subject" tests. I have heard they are adaptive computer tests now, and get harder if you get correct answers.

Answer to Salary Dilemma

Posted: August 6th, 2002, 8:14 pm
by JackRyan
QuoteThe higher your CAT score the more likely you are to be hired and the less you have to do, arrive on time, etc. Is there a male equivalent of the CAT, James?

Answer to Salary Dilemma

Posted: August 7th, 2002, 3:40 am
by RowdyRoddyPiper
QuoteIs there a male equivalent of the CAT, James?Are you planning on getting by on your good looks??

Answer to Salary Dilemma

Posted: August 7th, 2002, 8:47 pm
by JackRyan
No RRP, I'm just looking to hire and was wondering what the equal opportunity twist on this was Back to the salary question - How does one reconcile the current situation where:1. There seem to be lot of good people (including quants) looking for a job2. The "quants" in current employment seem to be getting bigger salaries than their MBA/general degree counterparts3. Many people on this forum and others have expressed the view that management skills are more difficult to replace than the purely quantitative ones.The imperfection of salary markets has always fascinated me but this could quickly get personal.