<p>what's the environment like, etc.</p>
<p>also what does BB firm stand for?</p>
<p>I searched “BB firm” but I’m not getting the definition.</p>
<p>BB stands for Bulge Bracket or the larger, existing investment banks</p>
<p>BB a long time ago used to mean Goldman Sachs, Morgan Stanley and Merrill Lynch – the three top monoline investment banks. Then it was adjusted to include Lehman Brothers and Bear Stearns. Then there was a financial crisis and BB was revised to mean basically the biggest banks still in existence, even if they are not pure investment banks. So Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, JP Morgan Chase, Deutsche Bank, Credit Suisse and maybe a couple of others like UBS and Barclays.</p>
<p>Feel free to check wikipedia for bulge bracket information.</p>
<p>What does this mean?
IBD
top bucket
PE
ILR</p>
<p><a href=“http://talk.collegeconfidential.com/1063706868-post14.html[/url]”>http://talk.collegeconfidential.com/1063706868-post14.html</a></p>
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<p><a href=“http://talk.collegeconfidential.com/1063623079-post16.html[/url]”>http://talk.collegeconfidential.com/1063623079-post16.html</a></p>
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<p>IBD = investment banking division
PE = private equity
top bucket = one of the top ranked employees among your banking colleagues (receive larger bonus than “mid bucket” and “bottom bucket” colleagues)</p>
<p>it was taken out of context. I was talking about how my uncle had a star analyst in his group: top bucket, MS top group was passed over by every mega PE, mainly because he went to wisconsin. One of the headhunters told him the instruction given by the PE was “GS/MS, top group, top bucket, ivies”</p>
<p>I was not saying going to an elite school makes you a good candidate. I was speaking to the fact that the name of the school could come back to haunt you if it’s not good enough in some cases.</p>
<p>Yes, sorry, indeed, I read it out of context. Deleted my post b/c it’s not relevant to the original topic.</p>
<p>I’m sorry to hear about that guy. This seems like an isolated incident, though. Look at the associates of any mega cap PE firm, and you’ll see that they’re not as dominated by GS/MS + ivies as you might think. Most firms are not THAT anal about pedigree. And once you’re at the interviews, none of that matters.</p>
<p>To get back to the original topic, if you’re interested in learning more about banking in general, I’d highly recommend mergersandinquisitions.com. That site, written by an ex-banker, has a ton of articles about the industry.</p>
<p>no need to be sorry for that guy… I guess he turned out “ok”…went to one of H/W/S and got offers from more than one of those PEs that didnt bother interviewing him pre-MBA…</p>