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What does he not like about it? The culture there is rough, but the people I know who work there seem to like it a lot. Living in Newport Beach is SWEET!!!

Generally speaking, this is true, although I'm not looking to get into PE. There is no doubt that PE is very tough to get into. I also agree that active investing in general is in decline as the shift towards index funds and "smart" beta intensifies. Nonetheless, I still very much want to...

Technically true although for the reasons I discussed earlier, I think the glory days of prop trading are over. More importantly, I want to do work I find interesting and would actually enjoy. I simply don't enjoy trading and badly want to make the transition into investment management.

It was one of DRW/Wolverine/Optiver/SIG. Not gonna get more specific than that. I was under the impression that I would be doing a combination of trading and research and that I would be exposed to some pretty interesting strategies across fixed income, equities, commodities, and currencies...

It really depends on the MBA and one's career goals. If we're talking about say a #30 ranked MBA program, yeah it's probably not worth it. Or if the person has unrealistic career goals, such as going into private equity without any relevant experience, then yes he will be disappointed. But for...

UPDATE I just quit my job at the new trading firm after a very short stint. Suffice it to say, they misled me on the nature of what I would be doing. Pretty frustrated with the industry as a whole I guess and am now contemplating my next move.

Yup. I already read it. Broughton is a good writer but has very little credibility on his negative views on HBS. The guy graduated in 2006, one of the best job markets in modern history but could not get a job coming out!

This guy's blog is excellent. He is a budding entrepreneur heading to Wharton this fall and is turning 36 soon. Despite his age, he's going to have a great time, and some of his posts such as the one below, show how much fun top b-schools really are. It's truly a once in a lifetime experience...

Lol. So true. B-school is 2 years of nonstop networking/partying/travelling. WAY more fun than the "real" world.

I agree that sellside research is a lot of fluff, and I don't have any interest in that. DRW is a prop trading firm. They definitely have researchers, but the type of work they're doing is very different from a traditional investment management firm. Ideally, yes, it would be awesome to...

The last time I took it, I remember there were roughly a dozen questions that were quite tricky, and they all involved rules and regulations. The questions on securities, options, market participants, registration, and trading systems were pretty straightforward. Of course, doing poorly on...

I agree. There are SO many more interesting finance jobs than prop trading, a dying industry.

I have spoken to a lot of MBA alums actually. All of them HIGHLY recommended it and said that even though the loans are rough, they had an amazing time and were able to transition into the jobs they wanted. The people who landed buyside told me that given my background and career goals, a top...

To be honest, it's mostly about signaling. I agree that you actually don't learn THAT much in b-school academically. But the prestigious firms see a lot of value in recruiting from top b-schools, and the fact that someone got in signals to them that they passed the gauntlet and "worthy" of...

Depends on the school. At top ones, the job market is pretty good, and placement has been quite solid. The numbers don't lie. http://poetsandquants.com/2013/01/24/mba-job-market-continues-to-improve/ http://poetsandquants.com/2013/05/22/numbers-every-mba-wants-to-see/ In addition to...

The MBA job market has improved considerably in the last 2 years. Still not pre-2008 level, but consulting and finance are both hot. This is of course assuming you're at a top program. For those people, the world is their oyster.

Um, how is it "clever marketing" when I have friends at these schools, have gone to their parties, met their classmates, sat in on classes, and know what type of jobs they get?

Possible that the markets will improve, but I personally doubt it. I think what we're witnessing goes way beyond cyclical changes. We shall see though. Also it's not just the money. Even if I were making $500K/year in my current job I would still leave for a top business school precisely...

Greenlight is not a typical long-short hedge fund. I think David Einhorn is one of the smartest hedge fund managers out there; his meticulous research and analytical thinking are simply astounding. Yes, that would be a great place to work at if you love fundamental equity research, but...

I'm actually not interested in banking or PE.