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Wachtell pays mid-year bonus
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Date: September 16th, 2006 11:35 AM Author: cyan jet-lagged halford partner $40k for class of 2000 and $30k for class of 2002: http://www.abovethelaw.com/2006/09/skaddenfreude_in_a_league_of_i.php
Granted some firms like Wilson Sonsini pay bonuses during the year also, but I think those are more like $4k, if even that much. |
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Date: September 16th, 2006 11:57 AM Author: very tactful zippy stage community account can median at GW get wachtell? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623838) |
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Date: September 16th, 2006 11:59 AM Author: saffron demanding fat ankles parlour only if they can fit all of their materials in a wheelie bag. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623841) |
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Date: September 16th, 2006 12:05 PM Author: boyish vermilion marketing idea fanboi That place might be the only biglaw firm worth working for. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623863) |
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Date: September 17th, 2006 12:21 PM Author: Grizzly provocative resort ROFL (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629037) |
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Date: September 17th, 2006 3:44 PM Author: floppy amber rehab yet they make less per hour than most biglaw associates. amazing. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630252) |
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Date: September 17th, 2006 9:39 PM Author: Azure High-end Antidepressant Drug typical ttt response (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632195) |
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Date: September 17th, 2006 9:56 PM Author: floppy amber rehab its true. many turn down wachtell. its not like harvard college (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632313) |
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Date: September 17th, 2006 9:58 PM Author: Greedy free-loading kitchen preventive strike not enitrely true
http://avery.ws/ai/shortest_hour_law_firms5.html
71.69 an hour, most nyc biglaw seems to be 60-70 |
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Date: September 17th, 2006 10:13 PM Author: floppy amber rehab i meant over all associates in all offices, adjusting for col, they arent anywhere near the top. if you dont adjust for col, wachtell is still only middling since london branches are superior.
among only nyc firms, they are above average. however the salary number is an average across all associates I believe so it is biased towards smaller firms.
edit: additionally that bit of a premium wlrk seems to pay over nyc firms in per hour salary is less than you could make by working at a pizzeria at night part-time. |
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Date: September 17th, 2006 10:46 PM Author: Azure High-end Antidepressant Drug you are full of shit (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632719) |
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Date: September 17th, 2006 10:58 PM Author: Greedy free-loading kitchen preventive strike um, only 4 firms on that list of 160 make more per hour. wachtell is tops in shittiest hours and in pay, we should all agree on this. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632810) |
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Date: September 18th, 2006 4:48 PM Author: floppy amber rehab I agree with that.
I don't think they are tops in pay per hour. That list bears that out.
I am also saying that working in any london branch you would make more per hour than at wachtell.
and I am also saying that adjusting for cost of living most associates make more per hour than at wachtell |
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Date: September 16th, 2006 12:15 PM Author: Heady Dog Poop Pervert Looks like other top firms have to give same or better year end bonus versus last year, even with $20K base raise.
Ch-ching! |
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Date: September 17th, 2006 12:24 PM Author: razzle garnet scourge upon the earth casino Yeah, because firms have a strong history of following WLRK's compensation scheme. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629050) |
Date: September 16th, 2006 2:22 PM Author: mischievous trust fund Someone took a swipe at Lat in the comments. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6624504) |
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Date: September 17th, 2006 4:21 PM Author: Appetizing Gay Wizard Box Office Subject: The poster called "David Lat" Par for the course in the blogosphere. I've been called far worse. You develop a pretty thick skin after a while.
For the record, the person who has been posting messages as "David Lat" on this board is not actually me. If you'd like to contact the real David Lat and confirm this fact, email me:
dlat AT abovethelaw DOT com
Thanks.
--David Lat
http://www.abovethelaw.com/ |
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Date: September 17th, 2006 4:22 PM Author: mischievous trust fund Are you the real DL? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630461) |
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Date: September 17th, 2006 4:25 PM Author: Appetizing Gay Wizard Box Office Subject: The real DL Yes, I am. As I said, if you'd like to verify my identity, email me at either of these addresses:
dlat AT abovethelaw DOT com (Above the Law email)
or
ArticleIIIGroupie AT gmail DOT com (Underneath Their Robes email)
I'm annoyed that someone has been posting for quite some time under my name. I hope they didn't post anything offensive and/or idiotic. (I have not had the chance to review their entire oeuvre.)
--David Lat http://www.abovethelaw.com/ |
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Date: September 17th, 2006 4:32 PM Author: mischievous trust fund You should post a "Taking questions" thread. I'm sure a lot of xoxoers would be interested in talking with you, if they knew you were here. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630513) |
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Date: September 17th, 2006 9:59 PM Author: Sienna gaping you did make yourself into a public figure (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632340) |
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Date: September 18th, 2006 4:43 PM Author: Appetizing Gay Wizard Box Office Subject: Public figure My New Flame Schtick: Thanks for the "Taking Questions" suggestion -- I might do that. It could be good for promoting AboveTheLaw.
Loafer: I concede that I'm a public figure. I have no problem with people flaming me, gossiping about me, etc. It comes with the territory.
But I don't like people using my name to post messages in a forum where I could possibly be posting. It's like the message board version of identity theft.
It's okay to gossip about public figures; it's not okay to steal their identities. And it's worse for me because even if I may be a public figure, I'm not a "celebrity."
If people post in this forum pretending to be me, it's reasonably likely that other people will think the posts are actually from me. In contrast, if a poster takes on the name of a celebrity -- e.g., "Tom Cruise" -- nobody would think that the real celebrity was posting.
--David Lat Above The Law http://www.abovethelaw.com |
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Date: September 18th, 2006 8:01 PM Author: Sienna gaping fair enough, esp. since i did ask the "david lat" poster whether he was the A3G guy when he started posting. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6637568) |
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Date: September 17th, 2006 12:40 PM Author: crimson erotic private investor patrolman fuck , i didnt know that bankers made so much money. JD vs MBA all over again for me...
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Date: September 17th, 2006 12:41 PM Author: cyan jet-lagged halford partner http://xoxohth.com/thread.php?thread_id=258262&mc=73&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629137) |
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Date: September 17th, 2006 12:47 PM Author: crimson erotic private investor patrolman god. why are we considering law school. is it just because it is less riskier. you know, right after college, no risks , just getting the numbers?? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629167) |
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Date: September 17th, 2006 1:11 PM Author: cyan jet-lagged halford partner I think there's some good reasons why somebody might prefer going into law than finance. I'm not sure any of those reasons applies to people who go into biglaw transactional work in NY. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629260) |
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Date: September 17th, 2006 1:19 PM Author: razzle garnet scourge upon the earth casino Hours and job security are usually the two big reasons. Your chances of making partner in NYC Biglaw are much better than a long-term career in finance. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629303) |
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Date: September 17th, 2006 1:54 PM Author: Bearded Vivacious Spot I guess this is worth saying again: lawyers, even NY transactional lawyers, do different things from bankers. I would rather be writing and negotiating contracts than doing spreadsheets. Others disagree and become bankers. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629527) |
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Date: September 17th, 2006 1:55 PM Author: Aphrodisiac Bossy Field Stock Car nice rationalization. writing contracts is fun as fuck! (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629533) |
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Date: September 17th, 2006 1:58 PM Author: cyan jet-lagged halford partner Personally I think that I might agree with rk. However drafting and editing can be tedious and painful, and I'm sure there's going to be times where I'll wonder how much worse it'd be to be an Excel monkey instead of a monkey scribe.
And of course, there's the difference in pay and three years of law school. You might enjoy writing, but do you enjoy it tens of thousands dollars more? |
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Date: September 17th, 2006 2:03 PM Author: Bearded Vivacious Spot Look:
1. My pay is comparable to what junior associates get at i-banks.
2. My hours are better.
3. My job is more interesting.
4. If I eventually want banker/PE money, I can probably move over in a year or two and skip the hours/drudgery that junior bankers suffer through. And I'll have seen more deals and have more experience in negotiating than bankers of my seniority -- though of course I'll have much less experience in modelling etc. |
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Date: September 17th, 2006 2:04 PM Author: contagious shrine liquid oxygen Corporate law sucks. How can you do that shit? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629621) |
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Date: September 17th, 2006 2:26 PM Author: Bearded Vivacious Spot Do you have any clue
(1) what corporate lawyers do,
(2) what litigators do, or
(3) what i-bankers do? |
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Date: September 17th, 2006 2:12 PM Author: Aphrodisiac Bossy Field Stock Car "1. My pay is comparable to what junior associates get at i-banks."
no it's not |
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Date: September 17th, 2006 2:20 PM Author: cyan jet-lagged halford partner He could be at Wachtell. But in that case, "I'd rather be at Wachtell than in finance" is a rather different statement than "I'd rather be in biglaw than in finance." (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629703) |
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Date: September 17th, 2006 2:27 PM Author: Aphrodisiac Bossy Field Stock Car how much do wachtell partners make? i know they have that 1:1 partner:associate ratio or whatever. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629750) |
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Date: September 17th, 2006 2:28 PM Author: curious locale PPP last year was about $3.9 million. Junior partners were making less; Herb and Marty were making more. This year will likely set new records if this mid-year bonus thing is any indication. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629757) |
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Date: September 17th, 2006 2:30 PM Author: Aphrodisiac Bossy Field Stock Car jesus christ that's fucking awesome. imagine th enet worth you could build up after many years at the wachtell partner level (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629764) |
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Date: September 17th, 2006 2:36 PM Author: cyan jet-lagged halford partner http://www.nytimes.com/imagepages/2006/05/26/business/20060526_HEDGE_GRAPHIC.html
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Date: September 17th, 2006 2:44 PM Author: Aphrodisiac Bossy Field Stock Car haha
always gotta rain on their parade, dont you |
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Date: September 17th, 2006 2:55 PM Author: crimson erotic private investor patrolman fuuuuck (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629915) |
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Date: September 17th, 2006 3:39 PM Author: twinkling overrated pisswyrm institution Approximately 850 hedge funds closed up shop in the last year. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630217) |
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Date: September 17th, 2006 3:49 PM Author: twinkling overrated pisswyrm institution By the way, Cohen stated recently that he doesn't think the current math wizard hedge fund trend can continue much longer. Consequently, he's starting a Buffet-ish value focused division of his company. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630280) |
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Date: September 17th, 2006 3:59 PM Author: floppy amber rehab there are more than 8000 hedge funds. there are 6300 taco bells (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630353) |
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Date: September 17th, 2006 4:11 PM Author: twinkling overrated pisswyrm institution There are about 8000 Burger Kings in the U.S. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630413) |
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Date: September 17th, 2006 4:12 PM Author: floppy amber rehab so there is a hedge fund for every burger king. sounds like a promising field (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630419) |
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Date: September 18th, 2006 6:05 PM Author: Azure High-end Antidepressant Drug Cohen, who is number 4 on that list, just lost a shitload of value for all of his investors. i'm guessing that others will follow, a lot of people will lose money, and the government will regulate the hell at of hedge funds, further cutting into returns (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6636815) |
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Date: September 17th, 2006 2:39 PM Author: crimson erotic private investor patrolman what if we dont make partners?? then what? i dont mean at W&L, but any big law firm (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629806) |
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Date: September 17th, 2006 2:44 PM Author: curious locale "W&L"??? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629834) |
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Date: September 17th, 2006 2:45 PM Author: cyan jet-lagged halford partner Rosen and Katz are kinda just deadwood, really. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629841) |
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Date: September 17th, 2006 2:47 PM Author: Aphrodisiac Bossy Field Stock Car i have a WLRK mug that i bring to keggers and drink out of. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629865) |
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Date: September 17th, 2006 2:56 PM Author: crimson erotic private investor patrolman so, how hard is it for lawyers to enter ibank??? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629924) |
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Date: September 17th, 2006 2:57 PM Author: Aphrodisiac Bossy Field Stock Car why are there so many lawyers asking this? it makes me wonder. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629930) |
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Date: September 17th, 2006 4:01 PM Author: floppy amber rehab katz is extremely dead wood. hasnt worked in years (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630367) |
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Date: September 17th, 2006 4:11 PM Author: twinkling overrated pisswyrm institution How much does he get for doing nothing? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630415) |
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Date: September 17th, 2006 4:21 PM Author: floppy amber rehab not much, since he's dead (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630451) |
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Date: September 17th, 2006 2:47 PM Author: crimson erotic private investor patrolman wachtell lipton (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629866) |
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Date: September 17th, 2006 4:11 PM Author: Appetizing Gay Wizard Box Office Subject: "David Lat": Please change your username To "David Lat":
This is the real-life David Lat, of AboveTheLaw.com (and formerly of Wachtell Lipton). I'd appreciate it if you would stop posting messages under my name. Thank you.
(To contact the real David Lat, you can email me: dlat AT abovethelaw DOT com.)
Again, much thanks!
--David Lat http://www.abovethelaw.com/ |
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Date: September 17th, 2006 2:26 PM Author: Bearded Vivacious Spot Market this year for my class is around $200K. That's comparable to i-bank comp; likely higher than banker comp in lean years and lower in fat ones. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629743) |
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Date: September 17th, 2006 2:29 PM Author: obsidian pocket flask That is some sweet money. But you're working yourself to the bone right? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629763) |
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Date: September 17th, 2006 2:44 PM Author: Bearded Vivacious Spot Well, yes. But less so than i-bank associates. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629837) |
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Date: September 17th, 2006 2:58 PM Author: cyan jet-lagged halford partner I'm not sure that they "work" that much. There's a lot of downtime in ibanking and I think it's more important to put in the face time.
My friend who moved to private equity said he was working harder than when he was in ibanking, but described it was similar hours (possibly slightly less), but actually having to do work for all those hours.
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Date: September 17th, 2006 3:03 PM Author: Aphrodisiac Bossy Field Stock Car it really depends on WHICH pe firm, but yeah supposedly the powerhouses like KKR, Blackstone, Carlyle will just rape you to death. i can see myself surviving 100 hrs a week when its just face time, but 100 hrs a week of hard work would fucking kill me. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629974) |
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Date: September 17th, 2006 3:05 PM Author: cyan jet-lagged halford partner Good point. I just happen to hear more from the people at the powerhouse firms. Some random people I talk to from smaller PE firms say the workload is more or less comparable to ibanking, generally with more interesting work and better office dynamics. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629989) |
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Date: September 17th, 2006 3:07 PM Author: Aphrodisiac Bossy Field Stock Car is it true that you need to be GS/MS/UBS LA/Lazard to have a reasonable shot at the KKRs? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629999) |
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Date: September 17th, 2006 3:10 PM Author: cyan jet-lagged halford partner I think it needs to be a bulge bracket ibank although I'm not really up on their relative reputations. Might also depend on the specific group that you interview with. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630024) |
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Date: September 17th, 2006 4:07 PM Author: floppy amber rehab no i dont think so. they also take people from strong departments of lesser banks, when those departments are relevant. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630392) |
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Date: September 17th, 2006 3:41 PM Author: twinkling overrated pisswyrm institution Or you could just get 2.5 full-time jobs. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630232) |
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Date: September 17th, 2006 4:03 PM Author: floppy amber rehab if you go over to the ibanking board, you will see many people asking about moving to other finance areas, not for the money, but so they can work only 60-65 hour weeks (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630379) |