Found this randomly, from the YouTube comments section:
A poor man says:
“WORK IS LIFE”
A rich man says:
“MONEY IS LIFE”
An infatuated man says:
"_____ IS LIFE".
This blog documents my MBA student life at Ryerson University, Canada (2010-2012). It was an attempt to demystify the MBA experience, help understand MBA topics & encourage MBA wannabes. I have a Pre-MBA blog about B-School application process (and a few other blogs) as well. I used to blog actively in the past and interact with readers regularly, but life got very busy after my MBA. Good luck. Take care. Cheers! Gerry.
Saturday, April 14, 2012
How disagreeable people (also known as "Jerks" in this article) ace job interviews and get paid significantly more on the job.
From the link: http://www.workopolis.com/content/advice/article/2178-what-you-can-learn-from-the-jerks-at-work
According to new research, being self-obsessed can help you stand out from the crowd in a job interview. Narcissists have an easier time impressing employers and getting hired. And a separate report indicates that once they are on the job, disagreeable people tend to earn significantly more than their nicer coworkers. Jerks. Apparently nice guys (and gals) do finish last. The study on narcissists at the job interview comes from the Journal of Applied Psychology. It turns out that while in most social situations narcissists are quite off-putting, those same self-promotional tendencies come in handy in an interview.
Why jerks out-perform other people in an interview:
Why jerks earn more money:
In other news, an earlier report published in the Journal of Personal and Social Psychology found that especially for men, there are salary advantages to being unpleasant on the job. Researchers measured "agreeableness" using self-reported survey data and found that men who ranked lower than average on likability earned a whopping 18% more -- or roughly $10,000 more annually -- than nicer guys did. Disagreeable women, meanwhile, earned about 5% or $1,828 more than their more likeable colleagues.
The analyzed data was collected over nearly 20 years from three different surveys sampling about 10,000 workers in a wide range of professions, salaries and ages. Meanwhile, researchers conducted a separate study with 460 business students asked to act as human-resource managers for a fictional company. The students were presented with short descriptions of candidates for a consultant position. Men described as highly agreeable were less likely to get the job. The study authors write, "Overall, our research provides strong evidence that men earn a substantial premium for being disagreeable while the same behavior has little effect on women's income."
Why this premium on rude behaviour? The disagreeable workers tend to get their own way and to draw attention to themselves, making it appear as if they are natural leaders - even in cases where they are clearly not. Among the words used to describe them were "stubborn," "quarrelsome," "difficult" and "outspoken." The study points out that the increased level of responsibility and salary that disagreeable people are awarded is actually completely out-of-step with the value of their contributions on the job. Disagreeable people can actually be quite disruptive to team work and the general office culture. In the same sense that it is better to learn from the narcissist's job interview advantages than it is to actually be one - there are things we can learn from well-compensated jerks without necessarily becoming a disagreeable person. Having an opinion and taking credit for your own (not other people's) ideas can make you stand out at work. Being assertive and speaking out when you have something to say can make you look like a leader. Just remember there is a fine line between being assertive and being pushy, and the aggressive loudmouth on the team who nobody likes generally doesn't last too long.
So learn from the jerks, but don't become one.
Why jerks out-perform other people in an interview:
- Narcissists love (and have practiced) animatedly talking about themselves.
- They relate every event in a way that makes themselves look good.
- When asked challenging questions, they actually increase their self-promotion. (Where a normal person would be tempted to tone it down or back-track.)
Why jerks earn more money:
In other news, an earlier report published in the Journal of Personal and Social Psychology found that especially for men, there are salary advantages to being unpleasant on the job. Researchers measured "agreeableness" using self-reported survey data and found that men who ranked lower than average on likability earned a whopping 18% more -- or roughly $10,000 more annually -- than nicer guys did. Disagreeable women, meanwhile, earned about 5% or $1,828 more than their more likeable colleagues.
The analyzed data was collected over nearly 20 years from three different surveys sampling about 10,000 workers in a wide range of professions, salaries and ages. Meanwhile, researchers conducted a separate study with 460 business students asked to act as human-resource managers for a fictional company. The students were presented with short descriptions of candidates for a consultant position. Men described as highly agreeable were less likely to get the job. The study authors write, "Overall, our research provides strong evidence that men earn a substantial premium for being disagreeable while the same behavior has little effect on women's income."
Why this premium on rude behaviour? The disagreeable workers tend to get their own way and to draw attention to themselves, making it appear as if they are natural leaders - even in cases where they are clearly not. Among the words used to describe them were "stubborn," "quarrelsome," "difficult" and "outspoken." The study points out that the increased level of responsibility and salary that disagreeable people are awarded is actually completely out-of-step with the value of their contributions on the job. Disagreeable people can actually be quite disruptive to team work and the general office culture. In the same sense that it is better to learn from the narcissist's job interview advantages than it is to actually be one - there are things we can learn from well-compensated jerks without necessarily becoming a disagreeable person. Having an opinion and taking credit for your own (not other people's) ideas can make you stand out at work. Being assertive and speaking out when you have something to say can make you look like a leader. Just remember there is a fine line between being assertive and being pushy, and the aggressive loudmouth on the team who nobody likes generally doesn't last too long.
So learn from the jerks, but don't become one.
Investment Banking: Life as an Associate
From the link: http://www.careers-in-finance.com/ibassoc.htm
(Please read the full article from the original link above - this is only an excerpt)
An associate is typically a recently graduated MBA or an analyst who gets promoted after three or four years. You will usually stay an associate for three years or so. An associate still has to do a lot of grunt work and may even have an analyst to call on. Your hours will still be miserable and you haven't really become a human being yet. Like a good analyst, your job is to make your boss look good and to understand what's going on. Your boss may abuse you from time to time and you aren't supposed to complain really. This is a job where you can really start to shine. If you add value to transactions or help get things done in some other meaningful way, you can expect to be paid a reasonable bonus and have a shot a promotion to AVP.
Associate level pay in New York firms runs roughly $90,000 in your first year (including bonus). If you are good and stay awhile, expect to go up to roughly $130,000 to $150,000 before you hop up another level. In London expect a salary of roughly 60,000 to 80,000 Pounds (all-in).
KEY ASSOCIATE SKILLS
In investment banking / corporate finance / M&A, key associate skills include:
In debt and equity capital markets positions, key associate skills include:
(Please read the full article from the original link above - this is only an excerpt)
An associate is typically a recently graduated MBA or an analyst who gets promoted after three or four years. You will usually stay an associate for three years or so. An associate still has to do a lot of grunt work and may even have an analyst to call on. Your hours will still be miserable and you haven't really become a human being yet. Like a good analyst, your job is to make your boss look good and to understand what's going on. Your boss may abuse you from time to time and you aren't supposed to complain really. This is a job where you can really start to shine. If you add value to transactions or help get things done in some other meaningful way, you can expect to be paid a reasonable bonus and have a shot a promotion to AVP.
Associate level pay in New York firms runs roughly $90,000 in your first year (including bonus). If you are good and stay awhile, expect to go up to roughly $130,000 to $150,000 before you hop up another level. In London expect a salary of roughly 60,000 to 80,000 Pounds (all-in).
KEY ASSOCIATE SKILLS
In investment banking / corporate finance / M&A, key associate skills include:
- the ability to do DCF valuations
- the ability to use Excel in your sleep
- the ability to arrange client meetings and get the logistics right
- the ability to deal with horrendous egos
- the ability to find comparable companies
- the ability to network within the firm and befriend key people like librarians, IT gurus, messengers, lawyers, compliance etc.
In debt and equity capital markets positions, key associate skills include:
- the ability to massage league tables
- the ability to price up new deals (e.g. bonds, convertibles, preferreds)
- pretend that you know what's going when clients call in and the boss is not around
- the ability to track past deals and pricing to sense where the market is going
- check and generate weekly newsletters (weeklies)
- the ability to fill in silences in meetings with insightful comments (while making sure your boss controls things)
- coordinate due diligence
- prepare document on debt and equity deals
- make sure analysts get burgers from the right place
- generate pitch books with your eyes closed while talking to clients and screaming at syndicate
- the ability to watch your bosses blotter
- the ability to know where prices are
- the ability to work options pricing models
- the ability to bluff a little when needed
- the ability to eat endless fattening food without getting fat
- the ability to golf, play tennis, drink and joke around with clients
- the ability to make clients feel comfortable with you
Investment Banking - Life as an Analyst.
From the link: http://www.careers-in-finance.com/ibanalyst.htm
(Please read the full article from the original link above - this is only an excerpt)
Analysts are typically recent undergraduates who work long hours and do a fair bit of grunt work. A good analyst helps his or her boss get their job done and done well. Analysts are not normally expected to contribute in meetings but often can. After the typical two-year analyst program at a major investment bank, many analysts return to school for an MBA before coming back to investment banking. Others choose to try other opportunities. During recruiting out of an MBA program, former analysts will be at a significant advantage over others without experience.
Key analyst skills include:
the ability to work with Excel spreadsheets
write macros in VBA
track and generate weekly newsletters (weeklies)
keep schedules
generate prospectuses
get burgers
put in and retrieve pitch books from the copy center
and answer client phone calls.
Read the full article from the like above for details. Those with MBAs, those who know their Finance course material and those who are specialized in Finance MBA get better treatment and better offers.
(Please read the full article from the original link above - this is only an excerpt)
Analysts are typically recent undergraduates who work long hours and do a fair bit of grunt work. A good analyst helps his or her boss get their job done and done well. Analysts are not normally expected to contribute in meetings but often can. After the typical two-year analyst program at a major investment bank, many analysts return to school for an MBA before coming back to investment banking. Others choose to try other opportunities. During recruiting out of an MBA program, former analysts will be at a significant advantage over others without experience.
Key analyst skills include:
Read the full article from the like above for details. Those with MBAs, those who know their Finance course material and those who are specialized in Finance MBA get better treatment and better offers.
Target Internship Positions: Analyst Roles
For internship, I am looking at Analyst Roles:
- Business Analyst
- Marketing Analyst
- Financial Analyst
- Consulting Analyst
Be yourself or be what others want you to be? I say "JUST BE YOURSELF" Only, try to become a BETTER version of yourself.
I have had some experiences in the program where I felt there was some tension now and then, here and there. Do not want to go into details. But the bottom line is this - I am originally from East India. Although I am now a Canadian citizen, I shall always be Indian at heart. Ok, I am an Indo-Canadian now.
I am expected to fit into the North American mould, true. But just by wearing clothes that look similar to the ones everyone wears does not make me 100% local. Know what I mean? As they say "You can take a man out of India, but you can't take India out of a man!". So the point is, when I am here and have some traits from back in India, there is a tendency that it shall not blend in well with the local scenario. This raises minor conflicts, sometimes.
Talk of Diversity is nice on paper, but in real life, things are different. Sometimes you feel that no one understands you and sometimes, you feel that you do not understand others. Anyone who says that his or life is 100% perfect is either extremely lucky, extremely rare or just plain lying!
But at the end of it all, I say this - be YOURSELF. No matter what it means to anyone else, be honest and true to yourself. Cos you have to live with yourself for the rest of your life.
At the same time, try to become a BETTER version of yourself, by upgrading your skills and abilities.
Gerry.
I am expected to fit into the North American mould, true. But just by wearing clothes that look similar to the ones everyone wears does not make me 100% local. Know what I mean? As they say "You can take a man out of India, but you can't take India out of a man!". So the point is, when I am here and have some traits from back in India, there is a tendency that it shall not blend in well with the local scenario. This raises minor conflicts, sometimes.
Talk of Diversity is nice on paper, but in real life, things are different. Sometimes you feel that no one understands you and sometimes, you feel that you do not understand others. Anyone who says that his or life is 100% perfect is either extremely lucky, extremely rare or just plain lying!
But at the end of it all, I say this - be YOURSELF. No matter what it means to anyone else, be honest and true to yourself. Cos you have to live with yourself for the rest of your life.
At the same time, try to become a BETTER version of yourself, by upgrading your skills and abilities.
Gerry.
Status Update: I COMPLETED my Winter 2012 term !!! Yay !!! + Hunt for internship is on!
Done with my Winter 2012 term of the MBA. All my theory classes are over and all my practical classes are over too. I just have one small assignment to take care of. That is a huge relief! A big load off my head! Should complete all my work in a day or two and then, I shall be a free bird for a while!
I deserve a break and how!
Russell Peters is in town, and is having a show today. I wish I could go, but I have some assignments to take care of. Will not be able to go. Have to sit out the day and finish all the writing work. One thing about the MBA program is that you have to get used to sitting on your chair for long hours and stare at your computer until you comploete all the reports. If you have a short attention span, then, you can not be very productive.
The search for an internship position has begun now. I had previously applied to a lot of places on my own, but had not got placed. But I had used a generic resume and had not customised my cover letters and resume then. I am now trying a more focused approach. Hope this works for me now. I have applied at a few places recently. Am waiting to hear back from the prospective employers.
More to come. Will finish typing soon... After so much writing, trust me, writing is the LAST thing you will want to do. I repeat this, MBA is not for the faint hearted, ha ha :) There is a lot of hard work to do. But there are fruits at the end of the journey!
Gerry.
I deserve a break and how!
Russell Peters is in town, and is having a show today. I wish I could go, but I have some assignments to take care of. Will not be able to go. Have to sit out the day and finish all the writing work. One thing about the MBA program is that you have to get used to sitting on your chair for long hours and stare at your computer until you comploete all the reports. If you have a short attention span, then, you can not be very productive.
The search for an internship position has begun now. I had previously applied to a lot of places on my own, but had not got placed. But I had used a generic resume and had not customised my cover letters and resume then. I am now trying a more focused approach. Hope this works for me now. I have applied at a few places recently. Am waiting to hear back from the prospective employers.
More to come. Will finish typing soon... After so much writing, trust me, writing is the LAST thing you will want to do. I repeat this, MBA is not for the faint hearted, ha ha :) There is a lot of hard work to do. But there are fruits at the end of the journey!
Gerry.
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