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Wall Street Oasis

E244: UBS Layoffs | Spending Money | Deal Experience and PE | Weekly Wrapup

Wall Street Oasis

Wall Street Oasis

Business

4.9534 Ratings

🗓️ 7 April 2023

⏱️ 24 minutes

🧾️ Download transcript

Summary

WSO Weekly Wrapup - Sign Up for the Newsletter Here Topics this Week: Spending Money UBS Layoffs Deal Experience and PE

Transcript

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0:00.0

Welcome to the WSO Weekly Wrapup, where I talk with my team about the five most

0:10.0

trending discussions in the Wall Street Oasis community. Enjoy.

0:14.0

All right, everybody, welcome to another episode of the weekly wrap-up.

0:19.4

We have, I think, three topics today. Matt, you can get us started,

0:23.5

and we'll go from there. Sure. First topic on the forums this week I found very fascinating.

0:29.9

Around compensation and the investment banking around the question being posed,

0:34.2

what does a single guy or girl do as an investment banking analyst with all the

0:37.8

money that you're making?

0:39.1

Some of the funny responses that I saw on the forum, whereas one, Pat, you, I think you'll enjoy

0:42.8

a lot.

0:43.6

Someone's screaming Tesla, so dumping those big bonuses in Tesla quarterly or buying a Tesla, I don't

0:50.4

know, or buying a Tesla.

0:52.1

I was thinking, giving them the benefit of the doubt,

0:54.3

hoping it was Tesla stock versus a depreciating car.

0:57.9

But some of the other funny suggestions of what to do with the money or what people have

1:01.7

done with their money, blew their internship money on luxury hotels, getting burned,

1:07.0

buying a dip the past year, or losing it all on sports betting.

1:11.0

So I know that we've had these conversations a few times around just the amount of money

1:15.8

IB analysts are making in 2020, 2022, 2023, especially when compared to when you were an analyst.

1:22.5

So, you know, albeit funny suggestions aside, what's your best recommendation on what, you know, an analyst should be doing with their money.

1:29.6

You know, if someone's making upwards of 150 grand coming first year out of school, what are some best practice and tips you should?

1:35.2

If they're in New York, they won't feel that, that wealthy until the bonus hits.

...

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