Exactly 100 days blogged in 100 posts about how I got sucked into a stockbroker firm, and how I left before I even started.
Beyond that, the rest of the posts are meant to be ego inflating, self-serving views on things related to money, finance, and Wall Street. Some of it is satire. Some of it is narcissism.
For obvious reasons, if you do manage to figure out what firm I work for, everything in the blog is my opinion and I do not speak on behalf of the firm.
Wall Street Broker 
Hey, really awesome blog. I’ve been following it the whole time. Im looking to get into that industry so your insight has been incredible. I am a recent college grad in NJ and have been looking at companies near Wall Street. Since you no longer work there, would you mind telling me what company you were with? I have an idea, based on some of your hints, but would love to know for sure. If you cant say I completely understand. Good luck with your job search. Keep writing!!
Thanks, I appreciate it. I’ll be posting again soon. You don’t need to be on Wall Street to work on Wall Street, but the environment definitely helps in making you feel like you are with some special company. Since I already had a friend at the firm and some old colleagues working up and down the street, Wall St actually felt comfortable rather than stuffy.
The company I was with hopes to –> restorewallstreet. Use Google. Let me know if you find your answer. Then when you find out the company name, use Google and search them up. Lets just say you may find some…interesting reading.
Hey, I managed to figure out the company. Pretty interesting. Its really cool being able to compare what the press says, versus your opinion as an actual employee. Good stuff. How is the job search going? Does there still seem to be a demand in the financial sector for college grads? Im considering going to get my MBA, hoping that may give me a leg up. I was a marketing major in college, but do have experience as a sales and marketing director at a small business in NJ. Any advice?
Demand has gone down a lot for entry level work. If you’re coming out of college, it’s easier to find a job because a lot of companies hold interviews on campus and only hire grads. I’m not doing an MBA because I don’t like to be in debt, because I don’t think I need it yet, and also the market is over-saturated with these degree holders. However, if the finance work you want to do requires an MBA, then get one now because it’s the best time.
Dude, was it really that bad that you quit on the first few days on the actual job?
No, it wasn’t that bad. It wasn’t the 14 hour days or non-stop cold calling that made me quit, I had gotten used to that, and I was well aware that was what a junior broker did all day.
After multiple talks with people, and evaluating my options, I decided there was no future I wanted to take a part of at that firm. Long story short, I didn’t think my potential on this planet would ever be really utilized just selling stock through a phone and taking a commission, especially with how my team was doing it with an insane hard sell tactic. I had figured that out in the first 2 weeks, but because of my desire to live out my “Wall Street” and “Boiler Room” movie fantasies, I decided to give it more time and went and got my 7/63 for the hell of it.
I think I had originally wanted to do the broker thing because it was new and I needed a change, an adrenaline shot in the arm to get me to see Wall St like I’ve never seen it before. To me, the job is either a natural fit and you love it, or you force yourself to fit and you fool yourself into loving it. I was on the verge of the latter. Some people have no choice but to do small firm brokerage sales because they’ll never have an opportunity to work for the big players in finance and the barriers of entry to be a broker are very low. I have other options.
What sort of ethnicity made up incoming trainees?
Some diversity but not many Asians/Indians/Blacks, although that was changing as hiring ramped up. A majority were Caucasian, probably because many of the senior brokers are of Italian or Greek descent, and they undoubtedly go recruiting in their respective neighborhoods and/or ethnic circles.
This blog is great! I work on wall street at a law firm and was considering a career in finance. How are things now?
Mate,
it is the year 2013 and i am still absolutely flattened by your blog. I am an Economics student wih my focus on Finance and Management. My dream is not only to live the “Wall Street” dream, i want to be the “Wall Street” dream. I have worked for global companies in the Buisiness sector, but I never really felt challenged enough. I need the adrenalin, plus the Finance sector poses a huge interest to me. I hope a lot of things have changed for you in thge last three years. Who knows, perhaps you are living your dream now. Anyway mate, need to go bac to my books 🙂
Awesome narrative. Gave me a peer’s insight into the specs of the daily grind and the effort expected of trainees. I wish there were more post-licencing tribulations to tell of. Nonetheless this was tremendously informative.
I’m a prospective broker trainee, having interviewed at firms on Wall and NJ. I am also a 23 y.o. Rutgers grad………. w/o finance background…….. having graduated only a year prior (class of 12).
I was not following this blog–I inhaled this entire work overnight, trying to gain some prospective before I make the plunge.
I think a the biggest takeaway from this, for prospective trainees (an also my own prospective), is that the wall-street-dream is not really an end in itself; it is simply a means to fast/easy/huge money. As you mentioned, there isnt anything mentally engaging (actually I think you referred to is as intellectually deafening) about selling stock. Its just that renowned way to make a lot of money–NOTHING MORE…..NOTHING MORE. I think if we accept that simple truth, it will be easier to accept the negative aspects (social life, personal life, moral/spiritual life) and get along.
I think this opportunity is best as part, of a say 5 year plan to make $1M to start your own ________________________________________.
Also 7 is required for 86/87 analyst exams and the 55 trader exam I think. Can go Broker => analyst v Broker => Trader.
Many firms will sponsor for free/front the cost of study materials. Ive made this a mandate to my candidacy at the firm I shall choose.
[Aside, Ive worked sales in B2B loans… like a lite-version of the culture described here: No intrinsic value, no helping people, no intellectual development, just pay a pound of flesh to blow up your bank account]
Definitely journaling my wall street journey online..
Good luck in the future bro. Thanks for sharing. Congrats on your exams btw.
RQ