As a newbie/analyst on Wall Street, you’re bound to have a ton of questions —and yeah, you’re going to be surrounded by people with experience but that doesn’t mean that they’ll:
b. Know what they’re talking about.
That’s why we thought it was super helpful that a poster Wall Street Oasis shared the worst advice he ever got as a bank analyst. The best part? He does a ton of debunking. Some of the things he says are bad practice, sound good in theory (in fact, we’ve definitely heard of people advising this stuff).
The poster has seven points, but since we don’t want to steal their thunder, we’re just putting a few of our favourites below:
- Turn changes as quickly as possible: This is sometimes a recipe for disaster. The earlier you finish, the more time your boss has to second-guess everything. If you know your boss will iterate until the last moment and beyond, it often pays to build in a small amount of downtime for yourself. The finished product will be just as good (or bad), and you’ll be slightly more rested for the next shit show they throw at you.
- Read the WSJ and have informed opinions: At the analyst level, few people want to hear your opinions on the economy. If you have opinions, don’t share them unless asked, or unless you are 100% certain you don’t sound like a douche. (Hint: In your early 20’s, you can never be 100% certain you don’t sound like a douche.)
- Work through lunch: Sometimes, nothing is going to save your arse. Just go. Find a friend in the same boat and drag them with you. Life will be better afterward.
Our take? In general, you should be careful and triple check all your work on Wall Street. Yes, people want things done quickly, but mostly they want things done right.
As for reading the WSJ, obviously you should be informed but we think Business Insider works pretty well too (we also like the douche part of that advice).
Lastly, everyone needs lunch. Eat your lunch and clear your head.