<p>I keep reading about some schools are target but companies come for "operations" and not front office work. And I can't seem to find any valuable information with Google. Can someone fill me in? And what's so bad about it?</p>
<p>Operations (or what is referred to as "back office" work) means handling the transactions once a purchase is made. Investment banks create deals or get people to buy different positions in start-up ventures. Someone has to take care of the details once the "concept" is sold and agreed upon;--these are the operations guys. </p>
<p>Naturally, the sales guys usually make the big bucks (usually a commission, which is a percentage of the deal--and which can be enormous) while the operations guys work for a flat yearly salary--or possibly a flat yearly salary and a minor bonus.</p>
<p>Also, some "back office" guys are the ones who do all the numbers to feed to the front office guys. In other words, they do the operations research. These are the types who come out of Carnegie-Mellon and understand computational finance really well.</p>
<p>Still, back guys can make damn good money. Can someone please explain for me.</p>
<p>It means that those who work in support roles at ibanks can make good salaries.They banks are like any other big business, they need accountants, marketing people, HR folks and many others to keep the business going. Because there is so much money floating around and everyone ends up with a skewed view of money, people in support roles, including secretaries, usually end up making more than they would at other types of companies.</p>
<p>yeah they make decent money but also don't work IB hours :D</p>