Summary of Monkey Business

Swinging through the Wall Street Jungle

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Monkey Business book summary
Why would an associate investment banker agree to a life of tedious toil, long hours, obscure tasks, imperious supervisors, and balky support staff? Money, lots and lots of money.

Rating

6 Overall

4 Applicability

6 Innovation

8 Style

Recommendation

Two young bankers have written a revealing book about investment banking. John Rolfe and Peter Troob, both graduates of top ranked universities and business schools, joined Donaldson, Lufkin and Jenrette (DLJ) in the1990s. They were drawn to DLJ by the opportunity to make a great deal of money. They earn and tell, with lively stories from the thirty months or so that they spent plying their trade. These stories are presented as representative of the entire investment banking industry. The writers’ in-the-trenches anecdotes make the book entertaining and valuable. getAbstract recommends this recreational tale to anyone interested in how money is made in the world of investment banking.

In this summary, you will learn

  • Why money, power and status are so seductive for wannabe investment bankers
  • Why inexperienced associate investment bankers are low on the corporate food chain
  • What the perks and pitfalls of life as an associate investment banker include
 

Summary

Recruiting, Interviewing, and Summer Boot Camp
The world of Wall Street investment banking has a clearly defined hierarchy. Analysts are at the bottom of the pecking order. They are typically recent undergraduates from top schools, such as Harvard, Princeton, and Wharton. Associates are...
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About the Authors

John Rolfe, a southerner, entered the University of Pennsylvania’s Wharton School of Business in 1993. He edited the Wharton Vulgarian. Following his sentence with DLJ, he was a principal with a private placement investment organization. John, now a freelance man of sport and leisure, is honing his panhandling skills for the next bear market. Peter Troob grew up on the rough and tumble streets of Scarsdale, New York. In 1993, he entered Harvard Business School, where he edited the humor section in the Harbus and wrote the "Kosher Korner" column. He is a partner with a private investment organization.


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