An interesting careers overview of Investment Banking

This is quite a good overview of how investment banks work and what to do to get into it. Its a bit UK focussed, but a very good overview none the less. Talks about all the various functions that one can encounter in an investment bank, not just the M&A section. It talks about the educational requirements, internships, the expected trajectory of careers, even IT languages being used. Its a bit dated, goes back to 2006 but its still a great read. (ignore the sections on ABN AMRO, Lehmans and other bits..))

Universities are market places for Education

Damn right too. This idea that universities have to be isolated from the world, not concerned with the exigencies of normal economics while the taxpayer simply pays without expecting anything back is not really appropriate. The first order of business is to teach our future citizens. And if we are expecting them to pay for this education, then they have to explain what, where, how much, in which way, when etc. of the education that they receive.

So this idea is great. I quote:

If you're spending up to £9,000 each year on tuition fees, you want to know what you're getting. So how are students going to decide?

Universities from next year will have to provide "key information", helping their student customers make value-for-money comparisons.

It's a cultural shift in how universities present themselves - more best-buy tables than big philosophical ideas.

Instead of artful pictures of cutting-edge buildings and young people enjoying themselves, this is more likely to mean a pie-chart showing how many former students are now in gainful employment.

There will be data showing the earnings of recent graduates, rental costs in the area, teaching hours and student satisfaction ratings, based on the results of the National Student Survey. The student union bar might get a mention.

Excellent news

Men and Women earning PhD’s

Curious, eh? In India, when I was doing my first in economics, there were hardly any women candidates. In the comp science/mathematics/finance world in Manchester, very few. In political and war studies at Kings College London, there were some but not that many either. Why is that that these “hard” subjects dont appeal to women? Or for that matter, why is that men arent interested in Psychology, English Literature etc.?

Wannabe Teachers allowed to fail as many times

Say what? Are you kidding me? The current system allows people to resit examinations on basic numeracy and literacy tests as many times as they wish? You have got to joking. I quote:

The Department for Education said one in 10 trainees takes the numeracy test more than three times, while the figure is one in 14 for the literacy test.

Basically, what this says is that 10% of the teachers were basic math idiots and just a little bit better for basic literacy? What the hell? And what does the teachers union say?

But the NUT said candidates who needed several resits to pass the tests were dyslexic, had English as an additional language, or were less familiar with the on-line testing system.

WHAT THE HELL? and how on earth are these people going to teach students? good lord in heaven. But no, they dont stop at this. The NUT’s general secretary goes on to say more

But the union's general secretary, Russell Hobby, said: "We should not fall into the trap of thinking, however, that academic excellence necessarily makes someone a great teacher. We want smart people, but we also want visionary, caring, energetic, creative and thoughtful people."

Yeah, that little point about knowing mathematics and literacy, sod that, lets have caring people who are thoughtful. The mind boggles. But look at the level of standards that this bloody union thinks is fine:

"The NUT has always argued that the entry requirements for initial teacher education, which include GCSE passes grade C or above in English and maths, should be sufficient and make the additional skills tests superfluous," said General Secretary Christine Blower.

Grade C???? that’s barely passing grade. What happened to making sure that only the best were our teachers? Here we are all busting our backsides to ensure that our kids get an A or A* while these blessed morons are happy with a Grade C? That is professionalism?

Here’s an example of the questions that these teachers were failing:

SAMPLE QUESTIONS

• Q: Teachers organised activities for three classes of 24 pupils and four classes of 28 pupils. What was the total number of pupils involved?
• A: 184.
• Q: There were no " " remarks at the parents' evening. Is the missing word:
• a) dissaproving
• b) disaproveing
• c) dissapproving
• d) disapproving?
• A: d
• Q: For a science experiment a teacher needed 95 cubic centimetres of vinegar for each pupil. There were 20 pupils in the class. Vinegar comes in 1,000 cubic centimetre bottles. How many bottles of vinegar were needed?
• A: 2
• Q: The children enjoyed the " " nature of the task. Is the correct word:
• a) mathmatical
• b) mathematical
• c) mathemmatical
• d) mathematicall
• A: b

I DO NOT BELIEVE THIS.