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I don't know what I want to do.....

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 [#permalink] New post 02 Mar 2007, 06:48
bulishona wrote:
rhyme wrote:
Brand Management (i want to manage people not things)


i found this comment very interesting. i work in brand management now (with a background in advertising) and my job is all about people, very little about "things." marketing in general is so much more fluffy and people oriented relative to some of the other careers you guys are talking about here (well, maybe not as much as MC)... my job is essentially being the leader of my cross-functional team to, well, manage the brand. the downside of this, of course, is that you're in meetings ALL DAY! :p

regardless, if anyone has any questions about brand management i'd be happy to offer my experiences up...


I'd love to hear more. I've always figured brand management meant being the guy responsible for picking the font color but not the text or the size for the front label, but not the back label, of colgate brand listerine mouthwash, but only the 12 oz bottle, not the 24 oz bottle, and only the mint flavored option, not the other flavours, and only the US market distribution.

I'm actually a very people oriented person, so your comments are intriguing. Tell me more.
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 [#permalink] New post 02 Mar 2007, 06:54
eazyb81 wrote:
biggamejames wrote:
eazyb81 wrote:
If the industry was so horrible, why would so many people be fighting each other for these BB jobs? Why is IB the #1 industry MBAs want to get into to?


Because IB is probably the only industry where you don't need a specific skillset and still earn $$$. The job is a commodity. Anyone can do it.


And "anyone" can't do MC or Corporate Finance? Just because it isn't highly specialized doesn't mean it is not a worthy career choice. Seems like an odd way to define an entire industry.

Quote:
There's a reason people who've done IB never go back and the ones who go into IB out of MBA never did IB.


I agree - the hours are grueling, not exactly the field established vets in their 40's and 50's would want to jump into. As has been said many times in this thread, IB is more of a stepping stone to perceivably bigger and better things.


MC and corp finance.. you're not making 300k/year.

There's no other industry out there where you can make 300k/year in your first year without any experience in that industry.

Where do you think all those MBAs straight out of undergrad go? IB is probably the only industry who will take them.
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 [#permalink] New post 02 Mar 2007, 06:58
hosam wrote:

What are your thoughts on asset management? and how easy is it to get into after b-school?



Asset management is the same as investment managemtent.

Eazyb touched on a crucial component of IM. When someones says they are going to IB or MC, you know what type of role they are going to.

But IM is so broad with so many roles. What department or role you get to is more important than the company. Generally, research and trading are the fields to get into. Possibly client services (institutional client services).
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 [#permalink] New post 02 Mar 2007, 07:02
rhyme wrote:
I'd love to hear more. I've always figured brand management meant being the guy responsible for picking the font color but not the text or the size for the front label, but not the back label, of colgate brand listerine mouthwash, but only the 12 oz bottle, not the 24 oz bottle, and only the mint flavored option, not the other flavours, and only the US market distribution.

I'm actually a very people oriented person, so your comments are intriguing. Tell me more.


too funny! :lol: yes, that's what i would imagine it would be like as an ABM in a packaged goods company. that's why you wouldn't catch me dead there. don't get me wrong, there is certainly prestige and a good foundation to be had at a P&G or whatnot, but determining the softest toilet paper isn't exactly exciting to me.

it varies SO MUCH by industry, i can't even begin to emphasize that enough. while toys can be considered a consumer good, it is night and day different from pkgd goods. see my previous post...
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 [#permalink] New post 02 Mar 2007, 07:03
So how is BM different from marketing?

Also, if your company is public and the stock price takes a hit, your department appears to be the easiest scapegoat. That is, your people appear to be "expendable."

Not saying you explicitly, but just generally trying to get a feel for this indsutry.
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 [#permalink] New post 02 Mar 2007, 07:04
gmatclb wrote:
eazyb81 wrote:
biggamejames wrote:
eazyb81 wrote:
If the industry was so horrible, why would so many people be fighting each other for these BB jobs? Why is IB the #1 industry MBAs want to get into to?


Because IB is probably the only industry where you don't need a specific skillset and still earn $$$. The job is a commodity. Anyone can do it.


And "anyone" can't do MC or Corporate Finance? Just because it isn't highly specialized doesn't mean it is not a worthy career choice. Seems like an odd way to define an entire industry.

Quote:
There's a reason people who've done IB never go back and the ones who go into IB out of MBA never did IB.


I agree - the hours are grueling, not exactly the field established vets in their 40's and 50's would want to jump into. As has been said many times in this thread, IB is more of a stepping stone to perceivably bigger and better things.


MC and corp finance.. you're not making 300k/year.

There's no other industry out there where you can make 300k/year in your first year without any experience in that industry.

Where do you think all those MBAs straight out of undergrad go? IB is probably the only industry who will take them.


Hmmm....i've read this a few times and still don't understand what point you are attempting to make. You originally tried to knock IB by saying "anyone can do it", and I responded by saying "anyone" can do MC or CF, as an example. Your response to this is to say MC and CF don't pay as well as IB - what does that have to do with the original discussion? Are you trying to condemn IB because it pays much better than other industries? Odd argument.

Saying IB is the only industry that will take MBAs out of undergrad is kind of a silly statement.
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 [#permalink] New post 02 Mar 2007, 07:11
eazyb81 wrote:
gmatclb wrote:
eazyb81 wrote:
biggamejames wrote:
eazyb81 wrote:
If the industry was so horrible, why would so many people be fighting each other for these BB jobs? Why is IB the #1 industry MBAs want to get into to?


Because IB is probably the only industry where you don't need a specific skillset and still earn $$$. The job is a commodity. Anyone can do it.


And "anyone" can't do MC or Corporate Finance? Just because it isn't highly specialized doesn't mean it is not a worthy career choice. Seems like an odd way to define an entire industry.

Quote:
There's a reason people who've done IB never go back and the ones who go into IB out of MBA never did IB.


I agree - the hours are grueling, not exactly the field established vets in their 40's and 50's would want to jump into. As has been said many times in this thread, IB is more of a stepping stone to perceivably bigger and better things.


MC and corp finance.. you're not making 300k/year.

There's no other industry out there where you can make 300k/year in your first year without any experience in that industry.

Where do you think all those MBAs straight out of undergrad go? IB is probably the only industry who will take them.


Hmmm....i've read this a few times and still don't understand what point you are attempting to make. You originally tried to knock IB by saying "anyone can do it", and I responded by saying "anyone" can do MC or CF, as an example. Your response to this is to say MC and CF don't pay as well as IB - what does that have to do with the original discussion? Are you trying to condemn IB because it pays much better than other industries? Odd argument.

Saying IB is the only industry that will take MBAs out of undergrad is kind of a silly statement.



The original statement was, "IB is the only industry where you can make 300K+/year."

Sure MC and CF you don't need any skill. Same thing with working at Taco Bell. But you aren't making 300K/year.

I'm not condeming IB because they pay much better than other industries. I'm saying that IB is (probably) the only industry where you can make that much without specialized skill (like a doctor or physicist).... therefore it is a commodity. Do banks have trouble hiring assocaiates?
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 [#permalink] New post 02 Mar 2007, 07:11
gmatclb wrote:
So how is BM different from marketing?

Also, if your company is public and the stock price takes a hit, your department appears to be the easiest scapegoat. That is, your people appear to be "expendable."

Not saying you explicitly, but just generally trying to get a feel for this indsutry.


i would say BM is a subset marketing. my title is brand manager, but i'm in the marketing department. we also have trade marketers, who manage merchandising and displays in store and work with our retailers to maximize our face to the consumer at their stores. but as the brand manager, i am the gatekeeper, so to speak, for absolutely everything that goes on with my brand. it's my baby :)

some companies don't have brand management at all, or if they do it's at a very high level. credit card companies come to mind... take american express. they have a zillion types of marketers that manage different facets of the business, but the AMEX brand is singular. i can go into more detail on this if it's not clear...

i've never felt any sort of pressure in terms of layoffs, etc. yes, marketing is always the first to go, but in my experience that means mktg budgets are cut. not the people. unfortunately, within the mktg budget it's advertising that gets cut first and that means many ad agencies end up laying their people off.

actually layoffs at my company tend to affect the product designers before it affects the marketers. we are a marketing driven and marketing led company. we make all the business decisions (in conjunction with our finance team -- incidentally, you couldn't pay me enough to do their job. it's awful!). it's nice to have that sort of power...
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 [#permalink] New post 02 Mar 2007, 07:15
gmatclb wrote:
eazyb81 wrote:
gmatclb wrote:
eazyb81 wrote:
biggamejames wrote:
eazyb81 wrote:
If the industry was so horrible, why would so many people be fighting each other for these BB jobs? Why is IB the #1 industry MBAs want to get into to?


Because IB is probably the only industry where you don't need a specific skillset and still earn $$$. The job is a commodity. Anyone can do it.


And "anyone" can't do MC or Corporate Finance? Just because it isn't highly specialized doesn't mean it is not a worthy career choice. Seems like an odd way to define an entire industry.

Quote:
There's a reason people who've done IB never go back and the ones who go into IB out of MBA never did IB.


I agree - the hours are grueling, not exactly the field established vets in their 40's and 50's would want to jump into. As has been said many times in this thread, IB is more of a stepping stone to perceivably bigger and better things.


MC and corp finance.. you're not making 300k/year.

There's no other industry out there where you can make 300k/year in your first year without any experience in that industry.

Where do you think all those MBAs straight out of undergrad go? IB is probably the only industry who will take them.


Hmmm....i've read this a few times and still don't understand what point you are attempting to make. You originally tried to knock IB by saying "anyone can do it", and I responded by saying "anyone" can do MC or CF, as an example. Your response to this is to say MC and CF don't pay as well as IB - what does that have to do with the original discussion? Are you trying to condemn IB because it pays much better than other industries? Odd argument.

Saying IB is the only industry that will take MBAs out of undergrad is kind of a silly statement.



The original statement was, "IB is the only industry where you can make 300K+/year."

Sure MC and CF you don't need any skill. Same thing with working at Taco Bell. But you aren't making 300K/year.

I'm not condeming IB because they pay much better than other industries. I'm saying that IB is (probably) the only industry where you can make that much without specialized skill (like a doctor or physicist).... therefore it is a commodity. Do banks have trouble hiring assocaiates?


Ah, I just realized you aren't the person I was originally discussing this with - it was biggamejames. My bad.
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 [#permalink] New post 02 Mar 2007, 09:52
venky1979 wrote:
I am only interested in $$$$$$
From the stats it looks like
1) MC
2) IB

:)


From a money standpoint, there is no way MC is ahead of IB.
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 [#permalink] New post 02 Mar 2007, 09:56
Yup... only PE!
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 [#permalink] New post 02 Mar 2007, 10:20
yb wrote:
Yup... only PE!


well good luck...very few people can make the cut ..as what one brings to the PE is more important than a HBS or Stanford MBA
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 [#permalink] New post 02 Mar 2007, 10:37
Anyone know anything about PIMCO?

http://www2.pimco.com/MBA/

Their jobs, frankly, sound pretty damn interesting.
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 [#permalink] New post 02 Mar 2007, 12:31
gmatclb wrote:

The original statement was, "IB is the only industry where you can make 300K+/year."

Sure MC and CF you don't need any skill. Same thing with working at Taco Bell. But you aren't making 300K/year.

I'm not condeming IB because they pay much better than other industries. I'm saying that IB is (probably) the only industry where you can make that much without specialized skill (like a doctor or physicist).... therefore it is a commodity. Do banks have trouble hiring assocaiates?


Okay, I am very interested in this conversation now. Let's "pretend" that I have no skills. (because I don't actually have any finance skills) I don't necessarily need 300K/year but something respectable. So you guys are confirming that IB is a good option for me, assuming that I'm willing to trade my social life/family life/hobbies for a big chunk of money. And IM, equities research are alternatives that pay a little less but more reasonable hours.

Anything else I should consider? (lets call these the "fresh start" options, for career changers with no previous exp)
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 [#permalink] New post 02 Mar 2007, 12:50
rhyme wrote:
Anyone know anything about PIMCO?

http://www2.pimco.com/MBA/

Their jobs, frankly, sound pretty **** interesting.


I believe PIMCO is a 100% fixed income, probaly a great place to work if you're interested in credit and debt, but not equities.
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 [#permalink] New post 02 Mar 2007, 13:00
I don't think the big firms are the best places to work for IM.

Best place would be a middle player. Good upside but established. Capital under management ~50 billion would be good.

Unlike the IBs and MCs who get the best deals and biggest clients, IM is the same no matter how much money you manage. (assuming the firm is not small)
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 [#permalink] New post 02 Mar 2007, 13:58
gmatclb wrote:
I don't think the big firms are the best places to work for IM.

Best place would be a middle player. Good upside but established. Capital under management ~50 billion would be good.

Unlike the IBs and MCs who get the best deals and biggest clients, IM is the same no matter how much money you manage. (assuming the firm is not small)


Not really, usually at least a portion of your bonus is tied to AUM and/or yearly profits. Also, pay is much better with the large IM firms than with small/regional firms.
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 [#permalink] New post 02 Mar 2007, 15:10
fluffydot wrote:

Okay, I am very interested in this conversation now. Let's "pretend" that I have no skills. (because I don't actually have any finance skills) I don't necessarily need 300K/year but something respectable. So you guys are confirming that IB is a good option for me, assuming that I'm willing to trade my social life/family life/hobbies for a big chunk of money. And IM, equities research are alternatives that pay a little less but more reasonable hours.

Anything else I should consider? (lets call these the "fresh start" options, for career changers with no previous exp)


I believe that IB and MC are generally considered friendly towards career changers. Reading between the lines, I believe this means "no experience necessary". While that's probably not entirely true, I expect you can learn what you need to know during business school and internship.
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 [#permalink] New post 02 Mar 2007, 15:16
pelihu wrote:

I believe that IB and MC are generally considered friendly towards career changers. Reading between the lines, I believe this means "no experience necessary". While that's probably not entirely true, I expect you can learn what you need to know during business school and internship.


Well, for MC you may not be experienced in MC itself, but you will bring to the table your experience with some industry(ies) or disciplines.

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 [#permalink] New post 02 Mar 2007, 16:15
cbreeze wrote:
PIMCO is a great place to work, especially the headquarters being in Newport Beach,the best place of the country to live in. I have a friend who works there, got a job right out of Princeton undergrad. My brother who has a Wharton undergrad degree, works as an equity analyst at a boutique firm. For him, a CFA is more important than a MBA since he is already in the industry. At 24 years of age, he makes over $100K. Almost all his colleagues are MBAs from top schools (M7 mostly) who leveraged their degree to change career path. Not having a MBA will not impede his career since it is almost exclusively performance driven.
Being an equity analyst provides you with skills that are needed everywhere, buyside, PE, hedge fund, portfolio management.


So if I have a way to pretty much lock in an internship at PIMCO, it wouldnt be a bad idea?
  [#permalink] 02 Mar 2007, 16:15
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