Where do i go Oppenheimer or Bear Stearns

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Sep 23, 2005 6:44 pm

I live in Philly and have two oppurtunities in ny


1) Go to oppenheimer and co and work with a top producing "team" that seems to be opening up a ton of accounts.  Will be making very little to start off but they say ill be making a lot 2 yrs down the road being a junior partner for the team.


or


2) Go to bear stearns at a nice base salary and am unsure which team ill be working directly with.



thoughts?



Sep 23, 2005 7:12 pm

I think it all depends. A wirehouse like Merrill, SB, BS are obviously great firms but they will boot you if you don't meet their expectations. Are you licensed? do you have a book? how old are you? Do you have any sales experience? OPY is a great place to learn how to open accts as a rookie broker and you will get good hands on training from Senior Brokers. But the choice is yours. Good luck.  

Sep 23, 2005 7:58 pm

licensed 21 yrs old

Sep 24, 2005 1:13 pm

 Lav - Don't count to heavily on the "Team". Unless your dad or someone you know is on that team, and they are targeting YOU specifically, to be an integral part of the business down the road. If these people don't know you.......why in the world, would they have such a phenomenal opportunity to offer ........YOU, and not, let's say.........just for kicks..... a million dollar producer within the firm or at the competition, or..... Steven Spielberg's brother,.... who decided to become a broker, and might have some connections that could benefit "the team". Using that Team association to lure talent, is the oldest ploy.


Geez........ I can't imagine why the failure rate of new people in this business is so high.......maybe because the newbies are lied too, and have been shown such unrealistic goals and scenarios. After about 1 year or so......they kind of figure out, and leave. This process has got to cost firms more than it benefits them.


Why don't they tell them like it is!?!?!?!?


Hey kid it's kind of like being a new lawyer....We will throw you a small salary,.....you will work yourself in to a state of psychological despair, at some point over the next 5 -10 years, based on your success, you will either be an average wage earner for a team or on your own, or you will embrace the opportunity, and be a frkn rock star!!!!!! But, the odds are against you, and nobody's going to hand you your career......so.......do you want the job or not?   

Sep 24, 2005 3:46 pm

Bear Stearns without hesitation. Much more cache and truly a high net worth

inclinicaton. You'll probably learn more there in 1 year than 3 years at

Oppy.



As with any career opportunity, get down to the specifics of job descriptions,

visibility, expectations and performance reviews. Good Luck