Ask Experts Questions for FREE Help !
Ask
    killbill's Avatar
    killbill Posts: 6, Reputation: 1
    New Member
     
    #1

    Apr 17, 2008, 01:31 PM
    Offered a job at an investment bank, is this a good job?
    I was offered a job at Advanced Equities, a Venture Capital Investment Banking Firm. The job entails calling potential clients all day to set up accounts. The clients are Technology companies who might need capital.

    What scares me about this job is that it was relatively easy to get, they pretty much told me at the interview that the job was mine. The salary is very low only around $35,000, but they say that I can make six figures in 12 months and much after that. Something just seems off to me.

    Any help would be appreciated?
    Rockstar714's Avatar
    Rockstar714 Posts: 441, Reputation: 44
    Full Member
     
    #2

    Apr 17, 2008, 02:11 PM
    Sounds like a telemarketing position to me... Have you had prior experience in this field?
    ISneezeFunny's Avatar
    ISneezeFunny Posts: 4,175, Reputation: 821
    Ultra Member
     
    #3

    Apr 17, 2008, 02:17 PM
    It does seem off... what is the actual job title?
    Rockstar714's Avatar
    Rockstar714 Posts: 441, Reputation: 44
    Full Member
     
    #4

    Apr 17, 2008, 02:29 PM
    I think that if it seems off to you, don't do it. I've always followed my instincts when it comes to certain jobs and I've had offers like this too, and if it seems too easy to get the job or it seems not right, it usually isn't.
    killbill's Avatar
    killbill Posts: 6, Reputation: 1
    New Member
     
    #5

    Apr 17, 2008, 04:56 PM
    The title is Private Equity Broker. I do have some experience with in this field but I do not have heavy experience which is why I was surprised I was able to get the job so easily. It does sound like telemarketing but I never heard of an investment bank hiring telemarketers to solicit for clients.

    I guess my main fear is that they hire anyone with client service experience and if they do well then great everyone makes money, if they do not then their not losing that much because their only paying $35k.

    I guess I'm trying to gauge how difficult it is to do well. In a normal corporate position, you might start at a low salary but your pretty much guaranteed to increase that salary given that you don't mess up.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,304, Reputation: 7691
    Expert
     
    #6

    Apr 17, 2008, 05:05 PM
    Well if you don't "sell" enough new loans you will soon be out of any job. I am sure there will be min lending amounts and other requirements.

    So basically what experience do you have making phone calls all day, to companies that don't want you to call, Do you have expereince getting past the secretary who answers the phone, Turn over in telemarking jobs is about 300 or 400 percent a year. Those that can do it, make a lot of money.

    But how good is the actual company, what is their ratings, do they make good loans,
    ISneezeFunny's Avatar
    ISneezeFunny Posts: 4,175, Reputation: 821
    Ultra Member
     
    #7

    Apr 17, 2008, 07:26 PM
    OH I know what your job is!! It's a startup broker position, where you cold call a bunch of clients, and whoever makes the most contracts start training for the actual broker position.

    To be honest, only one or two out of the entire department make it up to the broker position... so it's pretty much an internship.

    Fr_chuck is right, find more about the company and gauge it from there.
    killbill's Avatar
    killbill Posts: 6, Reputation: 1
    New Member
     
    #8

    Apr 18, 2008, 10:14 AM
    Thanks for your help everybody. The more that I think about it the more I realize that it isn't an actually "investment banking" position. Now that I think about it, the guy who interviewed me at first was new to the company, only four months in, and straight out of college.

    The company does well and they do offer good products but it seems like more of a sales office then an actual investment bank.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Iraq Dinars good Investment or Toilet Paper ? [ 7 Answers ]

:confused: My sister has brought $500,000.00 in Iraq Dinars on the word of some guy at work that said they were going to go up because of an oil strike over there. Now I'm reading that the Iraqians are talking about remaking the money with Saddam's picture on it. I don't know that much about...

What is a boutique investment bank? [ 2 Answers ]

What is a boutique investment bank?

Is it a good idea to deed property back to bank,when home is abount to go into forclo [ 1 Answers ]

I have a relative facing forcloser I was wondering if it woul dbe better to deed property back to bank would it help him a s far as his credit report. Thanks

Full refund offered, What about what they put me through? [ 2 Answers ]

Iwas finally offered the full price I paid 9 months ago to Home Depot for a laminate floor installed in my condo. Day after day problem after problem chance after chance they failed. Anything that could be screwed up was. When after phone calls and so many different people to tell what's happening,...


View more questions Search