Ephemeris of the Mind (Book Review) Monkey Business: Swinging Through the Wall Street Jungle
Time to read: 2 min read
Book Cover
No personal effects. No pictures of loved ones. DLJ was our family now, and there could be no competing loyalties.
Review
This book is written by two Ivy League MBA grads starting their careers as associates at the investment bank Donaldson, Lufkin & Jenrette (now acquired by Credit Suisse). I enjoy reading about the ridiculous anecdotes and interesting characters of Wall Street, so this book was right up my alley.
The protagonists give accounts of their expectations as well as the reality they faced when entering the investment banking industry. They speak about their experiences with internships, interviews, and finally, their actual experiences on the job.
This book is written in a sardonic tone and is genuinely hilarious, and I found myself chuckling out loud at some of the crazy stories and character descriptions. This book is also packed with a ton of insights, both on the positives (money) and drawbacks of working as an investment banker. Although my career (except for a brief stint as a commercial banker) has been on the other side of the pond in the buyside, many of my investment banking friends who have read this book claim that except for the technologies (namely the printing rooms and faxes), the book is surprisingly accurate even today. This book also contain nuggets of knowledge, such as background on the investment banking industry, as well as practical tips such as how to read IPO prospectuses.
Conclusion
This book is a must-read for anyone looking to work in investment banking; it's very nuanced in that it shows both the good and the bad. While it can be difficult to distinguish between the two narrators, they do both offer very sobering and (in my opinion) very valid career advice.