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  • Crest of Ignorance-1

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    Pwin Tuntasood
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    The document illustrates how problems flow downhill in investment banks, starting with clients generating issues that initially reach managing directors and directors before cascading down to vice presidents, associates, and analysts, with associates getting stuck dealing with most of the problems. As analysts discover more issues, they hide them away, but over time the concealed problems ferment and associates are left wondering who has been hiding more problems from them.

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    The document illustrates how problems flow downhill in investment banks, starting with clients generating issues that initially reach managing directors and directors before cascading down to vice presidents, associates, and analysts, with associates getting stuck dealing with most of the problems. As analysts discover more issues, they hide them away, but over time the concealed problems ferment and associates are left wondering who has been hiding more problems from them.

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    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    2K views10 pages

    Crest of Ignorance-1

    Uploaded by

    Pwin Tuntasood
    The document illustrates how problems flow downhill in investment banks, starting with clients generating issues that initially reach managing directors and directors before cascading down to vice presidents, associates, and analysts, with associates getting stuck dealing with most of the problems. As analysts discover more issues, they hide them away, but over time the concealed problems ferment and associates are left wondering who has been hiding more problems from them.

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    of 10

    As we all know, shit rolls downhill.

    The following diagram illustrates exactly how this process takes place in investment banks.

    Client

    At the top of the hill is the Client. Generally, the Client, in one way or another, generates the shit.
    Shit

    The shit first reaches the MD. But MDs are very adept at smelling shit coming, and say, Im a MD, I dont have to take this shit. And so the shit rolls on by.
    MD

    Now the shit reaches the Director. Its picking up some speed by now, and the Director gets splashed. Phew, this shit stinks, says the Director, better pass it down.
    Director

    So the shit washes over the VP, and he gets well dipped in shit. But by this time, the shit has a lot of momentum, and it keeps rolling down.

    VP

    And so the shit lands on the Associate. And the Associate gets covered in it, and spends the entire engagement swimming in it.

    Associate

    The Analysts are shielded from the shit by the Crest of Ignorance, which keeps shit from rolling down on them, and ensures that the Associates remains submerged.

    Crest of Ignorance Associate

    Analysts

    Meanwhile, however, the Analysts discover more shit as they proceed with the engagement. Not sure what to do with it, they conceal it in the Cave of Unreported Exceptions.

    Cave of Unreported Exceptions

    Analysts

    After a while, the cave gets filled with shit, and it starts to ferment. Then the Associate begins to smell hidden shit, and wonders Dammit, now whos been hiding shit?

    Fermented shit Analysts

    So, next time youre a Associates on an engagement, and you wonder why your life seems like shit, just refer to the diagram.

    Analysts

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