Swinging Through the Wall Street Jungle - Monkey Business

If you are considering going into banking, this book is an absolute "must read". The book is entertaining, easy to read, yet full of content. You feel like you are sitting at the desks with them, getting screamed at. I found myself actually feeling stressed over the routine I saw these guys doing.
This book is great for anyone in B-school, banking, or business in general. However, if you are not a capitalist, you should probably save your money.
The language is fairly rough, but I felt it was important because it gave you a good feel for the atmosphere. The limited audience appeal dropped the overall rating a little, so I gave the book 4 stars. If you are interested in this subject, it is a full 5.

1st off, let me clearly state that this book applies to Corporate Finance/M&A advisory, and only a handful of groups (if any) at a large investment bank will reflect this book.

that being said, having spent the last 9 months (fresh out of B-school) in a very active group (i.e. all the MDs are doing at least $50mm in fees), this book reflects my life. at the very least, every IB associate can identify with this lifestyle for some period of time. the a-hole MD "Bubbles" reminds of a nightmare MD at my bank, and the editng process is also spot on. that being said, no one should be surprised by IB (you should know what you are getting yourself into). if you don't READ this book ... in fact, anyone who is contemplating IB should read this book b/c it is the best description of life is really like for a 1st year Associate.

A fun and easy read, not quite to the expectations i had when ordering. I'm an investment banker myself and although on another continent, I read many familiar things.

While all it is written probably is (was) true, the perspective is of course very negative, there's little in the book of the things that make investment banking rewarding, and I'm not only talking about money. I'm talking of the satisfaction of getting a deal done and fitting all the pieces of the puzzle .

I believe it is still possible to get a nice investment banking career without being a monkey 15h/day, but of course, you might make less money out of it.

I liked a paragraph very much "we realized that the compensation levels and the perks weren't in place because being an associate in investment banking was a great job. They were in place because the job sucked."

I wonder what I have thought if I read this book before working as an analyst and associate in Investment Banking. Probably I wouldn't believe half the things here (including first year's associate paycheck of $200k) and I'd still yearn for a place in the industry.

But it casts a shaddow on the value and use of an MBA, a collateral victim in the book. Is the main purpose of an MBA to give you a open door to Investment Banking and management consulting? If so, is very dissapointing, there are cheaper and less time consuming ways of doing that.

being a 20-something in nyc, you're just surrounded by friends in banking, complete with cufflinks, corporate cars, and $1250+ monthly rent. sometimes, though, it's really hard to understand why anything (even in the name of saving someone's life) would make someone stay at work overnight, fly all over the place, ruin their physique w/beer and bad food, whine loads, and party until 3 in the morning. the money definitely flowed freer back in the day, when the book was written, but the work concept hasn't. you might still be miffed when your banker friends (or your overworked son/daughter) call to cancel on dinner, but at least you'll have have an idea of what on earth's keeping them after reading this absolute riot of a book. (and warning to the conservative: bankers are only marginally more civilized than traders, so don't expect purist language or stories.)

I really enjoyed Michael Lewis' "Liar's Poker," and thought that "Monkey Business" maybe if it wasn't as well-written or as witty as "Liar's Poker" would at least be entertaining and critical. Neither one of the authors is a good writer, and it's annoying how they switch from one voice to the other because it really adds nothing to the reading experience. This is a weak and lame book about the experience of two Type A personalities trying to make it as Wall Street investment bankers. Work was painful and pointless and life...well, there was no life -- and so the two heroes had an epiphany one day and decided to change their lifes and switch from Wall Street investment bankers to Wall Street money managers. So it's easy to see that their critical attacks on Wall Street are only half-hearted and often insincere. Who doesn't know that Wall Street bankers are a bunch of con artists trying to sell questionable companies to an unquestioning public?

As an attorney who represents several Wall Street clients, I couldn't wait to read this book, which promised to give me a glimpse behind the $2000 suits and formal demeanor of the men and women (mostly men) who sit in my conference room striving to convey an aura of power and prestige. The book was better than I could have hoped. Not only did it confirm one of my nagging suspicions-- that these men are deeply flawed-- but it made me laugh out loud. The sheer enormity of the egos and the psychological insecurities is almost beyond belief, and if it wasn't for the honesty of the authors, it would in fact be easy to dismiss this book as the ravings of disgruntled employees. But the stories told here have the ring of truth, and the authors don't shy away from skewering themselves in the process, no matter how embarassing their revelations may be. The men of power immortalized in this book reminded me of immature frat-boys engaging in ritualized debauchery, only these men now have the power and the money to do things that college kids could only dream of. This is a wonferful book about a bizarre world that is rarely seen in all its ugliness. I now see my clients in an entirely new light, and there are even times in meetings when I have to stifle a chuckle because I am thinking of a scene from the book and wondering if maybe one of these men has done the exact same thing.

This is the most "unveiling" book about associate life in investment banking (in equities at least) I've come across and I think holds its own on a Liar's Poker level. It's not low level humor, just highly witty and raw; and well written. You will laugh at loud, yes even you stoic business-types.

If you're thinking about I-banking, I'd recommend this, especially if you believe the myth of cigars, caviar and high-life escapades. MB, with some colorful descriptions, tells it like it is.

I agree with the counter claims made by some bankers in the comments section, and believe MB shouldn't discourage anyone. Any high level professional has to pay dues, the associate years at a bank is analogous to the residency years of a surgeon. Yes you're going to get destroyed, but that's the rite of passage.

Good luck to all the eager bankers out there. Read and enjoy.

The reviews for Monkey Business are almost as interesting as the book itself (almost, but not quite!). The most interesting thing about the reviews is that the vast majority of the people panning the book are either bankers themselves or other "insiders", the exact group that Monkey Business puts in a headlock. Since they can't attack the book's veracity they make due by attacking the authors. I find it amusing that some reviewers complain of the author's intolerance and/or elitism. These people miss the authors' point -- that Wall Street banks are elitist institutions filled with a bunch of white wealthy wanna-bes who consider themselves holier than thou. Rolfe and Troob weave this fact into their narrative in an incredibly humorous fashion. Unfortunately, it seems that a lot of people just don't get it and think that the authors are the cause of the problem, not simply commentators. Monkey Business was optional reading for my B-school survey class on investment banking. It was a real eye opener and the best book on the list. I loved the book, and think that anybody who can get over their own arrogance should read it and take its lessons to heart. And, oh yeah, by the way the uptight bankers out there should probably steer clear. You're not going to like the reflection that you see reflected in the mirror.

Ideal life. Perception. Fun times. Money. Havoc. Money. Mad bosses. Climbing the ladder. Money. Deception. Friendship. Late nights. Screaming matches. Corporate dysfunction. Money. Snobby analysts. Loyalty. Funny observations. Bonuses. "Why did I come to big-time investment?" More late nights. More fun. Money. Managing Directors. Schmoozing. Wining and dining. Competition. Other people's money. Spreadsheets. Balance Sheets. Money. Coming to terms. Moving on. More money.

Having had the pleasure of working with investment bankers from several firms recently, this person was looking forward to learning more about what these guys have to go through. Sure, the hours are tough and long, and the perks are even more tremendous than anyone could imagine. But go figure, to succeed in any high powered profession, there is a period of ungodly work hours required, and a true dedication to be successful. Go ask any physician, who has to work harder in the early parts of a career than any banker. The authors prove what anyone who has been through a successful career chase knows, to be able to persevere and be successful at something, you have to enjoy doing what you are doing. The system has a way of weeding out those who are only in it for the money, and it worked fine here. Rolfe and Troob are opposites in many respects, but brought together by a disdain for a career path they had chosen - and chosen only to get rich. Troob on the one hand, decides that life has more to offer than the commitment to a successful career in investment banking would allow. He comes across as decent, bright and able to be successful at lots of things. Misery loves company, and Rolfe is the loser who even after leaving DLJ can't make it in a job. He tells how he got in through good fortune, and appears to detest every thing he was doing. Now let me see, I get a job, but I can't stand the work, and I hate it, therefore the system must be terrible that this career that pays so well isn't fun for me. Jealous of those who are successful in a career where he doesn't belong, he tries to blame the system for creating the scumbag that he is, and take it down with him on his spiral to nowhere. The American dream has warped to the desire to be financially successful without having to pay the price. The instant riches of Lotto drawings and the drive-through McDonalds mentality of financial expectations are alive and well in Rolfe. By writing the trash called Monkey Business and wrapping it in the glamour of Wall Street, Rolfe and Troob give a powerful example of just how easy the warped American Dream can be.

Monkey Business is definitely a true depiction of the world of investment banking and Wall Street. As a Wharton graduate, I've been exposed to this world, and can attest to the idiosyncracies, stupidities, and ridiculous nature of the world of investment banking. As a participant in the madness, the book poked fun at the very things I experienced and continue to endure.
The book is an easy read, and it will probably take no more than a couple of sittings to finish it. It's better to read before you enter the investment banking world, because then you can see how accurate the book really is. Once you've already been there, the book can get a bit boring because it rehashes what you already know. It's still a definitely fun and amusing book.

Hilarious book! Gives real insight on Investment Banking, how the business functions, the various methods to value a company, the pains of the job, and examples of a normal day in their lives. If you are a college student dying to get into I-banking, or anyone who wants a laugh and some info on I-banking, this is a MUST read. However, don't let the book get you down. Many firms on Wall Street do not have the culture that DLJ did. I-Banking is a rewarding job with some pain (hours and the egos you have to deal with). It's not for everyone, as Monkey Business proves.

While Monkey Business contains some funny anecdotes, two thingsbecome quickly aparent when you read this book. The first is thatTroob and Rolfe are a couple of clowns. I have little sympathy for abanker who complains that he doesn't get any sleep, but spends a few nights a week at Shenanagans until 4am. However, they should be commended for not masking their initial naivite in the industry as it makes some of their actions understandable.
The second (and most important) is that the story reads like a pitch book of complaints - section by section with no conflict or compelling reason to keep you reading. The book is enjoyable in chunks, but it could have been so much better in more capable hands..... Monkey Business will leave you wanting more than it can give.

As a young male interested in the financial world, I have to say this book was both entertaining and informative at the same time. I had no idea that young I-bankers spent so much time doing kinkos type stuff with reports, binders, copying ect. I expected tons of sex stories and of the such but was suprised by the honesty of the book where it halariously talks about him masterbating in his office and looking at internet porn and his inability to get women. When he says all the good girls are screwing the artists and musicians with no money but time that is classic. I had this on my bookshelf 3 months before reading it, I picked it up out of curiousity one night and could not put it down, a very fast read.

These guys are not Shakespeare, but then again they were investment bankers so what do you expect? Despite some rough patches, this is an incredibly funny book that moves you through the roller coaster ride as a junior investment banker. Far from being bitter, the authors had the foresight to realize early in the game what they were getting themselves into and change paths before it became too late. Hats off to their honesty.
I've read a lot of so-called "Wall Street" books, and until Monkey Business hadn't found one that didn't spend 90% of its time with the author slapping themselves on the back. We've finally gotten some honesty, and as you'll see the results ain't pretty. Now we can all understand why most of the authors to date have spent so much time filling us full of BS.
God save the Queen! God bless Monkey Business!

Fun and entertaining book about life as a young Investment Banker. My son, at time of reading a 1st year Investment Banker, says much of it matches his experience. I don't know of a better book to read for people who are interested in pursuing this career, or their families and friends who won't see them for the next few years.

This book is gregarious and funny. As a senior in college about to head into the investment banking world next year, this book reaffirms everything I had hoped about the industry. Perhyaps I'm masochistic, but everything this book portrays makes me more excited to begin.
Immaturity, debauchery, frat-like atmosphere, money, travel, etc -- bring it on!
Where else can one get overly compensated for acting like a child (and performing many tasks that an Excel spreadsheet can do)? Don't want to put up with long hours and sick bosses? Well, don't forget that one day you will have the priviledge of being the ever-demanding boss overseeing minions who one day want to be in your shoes.

Having worked for a major investment bank in a developing country, it was very refreshing to read that things aren't all that different in the United States either. It is exaggerated and unnecessarily gross at times but it makes up for it by being brutally honest and telling outsiders what really goes on behind those glamourous doors. Again, from personal experience, I loved the portrayal of ivy league B-schools. Ha! I also enjoyed the part when they did all the investment analysis for an IPO and then the boss came and told them what to price it at, regardless of the analysis.

A little too raunchy sometimes but overall entertaining and extremely informative on the heirarchy of investment bankers and what their jobs are like. Very easy to read, funny at times and chronological but i didnt like how the only way for you to tell if the "other" author was narrating was to notice the change in font. There should be a label of some sort.

Pretty good book.

An extremely entertaining, sarcastic look at the life of an investment banker. This book would make a great present for girlfriends, wives, families and friends of junior investment bankers and should be the basis of induction courses around the world. Rolfe and Troob capture the pains and experiences of junior investment bankers in an entertaining and accurate fashion, removing all the gloss and applying a layer of reality - preparing pitchbooks, comps, attending drafting meetings, being a roadshow slave and endless word processing. Excellent first hand account into the thankless and demeaning world of an IB associate. You will remember the words of Rolfe and Troob next time you are being screamed at by a Vice President or Managing Director!

This book is a must buy for anybody thinking about entering the world of investment banking. As a student who is going to intern with an IB firm this summer, this book certainly amused and scared me.
The best thing about the book is its honesty. No gloss, no brushing up. The reader can actually feel the frustration of Troob and Rolfe and the problems they faced at their firm.
For those who have knowledge of the industry, this is an entertaining, easy read. However, if you are not well-versed in finance jargon, the last third of the book might be a little confusing. Nevertheless, that shouldn't deter you away from the hi-jinx displayed at one of Wall Street's most respected firms.

Finally someone is speaking the truth about life on Wall Street. It is amazing with what tricks and finesse investment banks recruit young people into their torture chambers and turn them into money-hungry paper-pushing machines. It was delightful to read Monkey Business and learn that other former Investment Bankers feel the same way. And its a relief to know that Rolfe and Troob have made their way out of the industry and moved onto bigger and better things. I highly recommend this book for anyone currently or historically involved with the whole Investment Banking and Wall Street culture. It certainly is hilarious to read about the authors' own experiences, and you can even learn a thing or two.

Skip through the vulgarity and focus on the business details, which are interesting.

A lot of reviewers gave a low rating, because they feel the authors complained too much about their high paying jobs. The idea of these reviewers seems to be 'of course you have to work hard and sacrifice to make a lot of money'. This misses the point, the authors of this book describe how i-banking associates and analysts (slaves), work hard and sacrifice in an almost totally non-productive way. It's make work that they do instead of real work, and it doesn't actually contribute any of the profit that makes up their 200k compensation. It's just some mindless ritual that ruins their personal lives.

Far and away the best depiction of what investment banking is really like when you're a young investment banker in the trenches. The authors have captured the urgency, greed, hysteria, needs and desires of those that inhabit The Street in a direct and honest manner. This book is about more than just Wall Street though. It is an extremely humorous account about losing and then regaining one's perspective and balance. The authors reveal what any person considering an investment banking career should know BEFORE taking the plunge. Great stories and terrific characters make this an entertaining read. Enjoy it.

This book has already been written. Michael Lewis' Liar's Poker is wittier, more intelligent, and gives you more juicy inside information. And he names names, unlike this whining, nervous duo who still earn their keep in the money biz.
The three interesting bits in Monkey Business were: 1) Sitting in on the pitch. 2) How the prospectus is developed. 3) The joke that is due diligence.
These account for ten percent of the book. The other ninety percent meanders about in artless writing, unnecessarily crude language, and endless iterations of the menial paper shuffling that mighty MBA's must stoop to while earning $200K.
Not worth your while. I'm sorry I gave it mine.

BULLSEYE! Finally, a book that offers a true depiction of what life is really like for a naive investment banker wannabe. Like the authors, I too fell prey to the huge money machines of Wall Street. Monkey Business, paints a vivid and hysterical picture of what it is like for a MBA student getting courted and seduced by the biggest and most powerful investment banking firms on Wall Street. It is like being picked up by the most beautiful girl on campus, only to find out too late that she has fake teeth, stuffs her bra, and has to wear a jock strap. It is a must read for everyone who needs a good ab workout because you will laugh yourself to a flat stomach. Kudos!

For those interested in investment banking, this is a good book to read. It gives an in depth(and very personal view)of investment banking on Wall Street. Very witty, satirical and critical.
Positives: Very informative, insightful. Book is hard to put down. Negatives: Some parts are long-winded. Authors so obviously despise Wall Street that their negative accounts of W.S. lose credibility
Overall, the book is a great read for those interested in I.B.

The numerous other reviewers have already done this work by Rolfe and Troob justice with their detailed and colorful comments and elaborations. So I'll make mine short -- JUST DO IT. Definitely read this book if you are in the trade. It's entertaining and educational. Plus, it makes a cross-country business trip plane ride go much faster.

As an Undergraduate Finance student, I always wonder what is it like to work in Wall Street. Finally, I found 'the' book. I believe the authors achieved their purposes: Putting the readers in the eyes, in the minds, and in the shoes of the Wall Street hunters. If you haven't read this book, you don't know how working in Wall Street is like yet! The truth is not always what we expect to know, but if you don't want to know all the truth, you might as well not know any....Thanks for sharing your innermost thoughts with us. I recommend all Business students and whoever is thinking about working there to read this book. How courageous and smart!

Monkey Business is the story of two investment bankers trying to make sense out of the career that they have chosen. As we all know, jobs can be stressful and it often helps to temper a little humor to keep one's sanity. However, investment bankers have never been known to be top comedians and Rolfe and Troob are no exception. This book is a whiny litany from two little rich boys from Ivy League schools who did not have the tenacity to put in the hard work it required to rise to the top of their chosen field. It is written in a vernacular that one can only call high school locker room and is about as funny as a fart joke. In their world, banking assistants are to be used as sexual toys, the word processing department is a group of "Christopher Street fairies" and the copy center is "a platoon of patriotic Puerto Ricans". The book is neither informative nor funny.If you want workplace humor, stick with Dilbert.

The best endorsement for this book would be the negative reviews from all those embittered bankers who are still in their jobs, stewing about how Troob and Rolfe now have normal lives and a publishing career to boot. They just want to justify their miserable existences by trying to convince us that the writers couldn't take the heat. Exactly like a frat house! You have to be abused into believing that you're in the right place. Great peek into the frightening world of investment banking. If you or someone you know is considering such a career, rush right out and BUY THIS BOOK!

Anyone who is thinking of going into investment banking or anyone who is in it should read this hilarious book. These two guys realized that the emperor had no clothes and then they wrote about it. Anyone who doesn't find this book entertaining is either way too uptight, is dead, or is a defensive banker. This is a funny book and that is what it should be read as. No more, no less. The entertainment value is very high and it is a good read. There is even a moral to the story. Go out and read Monkey Business, you will be happy you did.

Having been an analyst at an investment bank, I faced a few situations that were very similar to the ones mentioned in the book. However, as I read it, it was clear that the authors were trying to exaggerate the pain and suffereing involved in the business. With that aside, it is a very funny account of i-banking life.

As a former junior investment banker, this book brought back chilling memories of my life as an associate in an investment bank. Rolfe and Troob have really captured the essence of what life is like at ground zero and how easy it is too get caught up in the bizarre culture. The book is a quick read and had me laughing out loud. It is the next Liar's Poker or Bonfire of the Vanities. This book is great for everyone as it lays bear the mystique surrounding Wall Steet -- and it is a must read for anyone working on Wall Street or considering it. I hope they make a movie out of it.

This book is higly informative, however the writers should be bankers and not try to pose as authors the style is weak and the content could stand some work by a professional editor. As for the story these guys are cry babies who complain about working long hours and working for maladjusted ego -maniancs. Boo-hoo I am crying out loud for you when you take a job in banking you sell out for the 200K comp. package. Get real guys you have had everything in you life handed to you. Take this book for the info about the industry and look past these wimps rants. These guys hopefully will never write another book. Save the money and get this at the liabrary, you do not want to own this.

I read this book in two days. Obviously very easy to read and very funny as well. Anyone who wants a look into what really goes on at a prominent investment bank should read this. From private jets to limos and staying at the best hotels in the world, the authors realize the firm is spoiling them only to mask the fact that they have no lives outside of the office. This book is a must read for any would-be investment banker.

Why is this book getting even one five star rating? Because the people reading it are evidently as shallow as the authors? Because the competition in with regard to the subject matter is similarly weak? I read 75 books a year. This is the worst piece of writing I've seen -- since I can remember. The authors are full of themselves and little else (shallow). This book is not interesting, not informative and not funny. If you want this book, you pay shipping and I'll send it to you free (hardcover, barely used). No kidding! Even then you'll feel ripped off! [email protected]

A virtual dictionary of hackneyed phrases and cliche's ... several of them misspelled, incidentally. As for the obscenity, only MBA's could make it this unfunny and tiresome. Beyond the startling insight that 100 hours a week spent copying and collating proposals will spoil your social life, there are no significant insights into the world of investment banking here. Disillusioned with the shallow and mercenary world of DLJ, these young Horaces flee to the bucolic pleasures of hedge fund management. Only their callow assuredness is startling.

Having worked in that socially Darwinist and cutthroat institution we call Wall Street, I can attest that this book has it right. Besides being accurate and hilarious, the book is replete with investment banking lingo--hell, there's even a chapter dedicated to valuation!

Rolfe and Troob had me laughing out aloud all through the book with their witty sense of humor. I can definitely relate to their experience in the industry. So much of it is so true, though sometimes exaggerated.

How typical of a person who works at a successful firm to write a bunch of garbage about the firm that pushed this person above the ordinary and through the mill to become a trained and skilled Wall Street employee. I for one thought this book would be a good read, and looked forward to its release. How disappointing for me! I can only hope that the garbage spewed by these so called former bankers does not reflect how many others on the street feel towards their fellow workers, the work and their firm! I am proud to state that I work for the very firm they are slamming, but then they could not withstand the challenge of the firm they are writing about. I have been at DLJ for 14 years and can honestly say, only the good survive at DLJ. Others write books!

Ok, its not great literature, but it is amusing and sheds valuable light on what is really going on behind the scenes in this economy. I didnt think it was as gross as some reviewers described, though that may just be me. Overall, it reinforced my low opinion of Wall Street investment bankers as superfluous parasites who do nothing productive and spend all their time thinking of clever ways to destroy productive companies so they can get even more obscenely rich. Their fascination with expensive clothes is so revealing of an unconscious awareness that their occupation is so disgustingly filthy and amoral.

The Liars Poker of a new era. This is wonderfully candid, funny and real-life look into the world of investment banking. It should be mandatory reading for any person considering investment banking as their profession. It contains what they don't share with you while you're earning your MBA.

I went to business school with Peter Troob. He was funny then and still is. As a former i-banker, Troob has captured exactly how miserable life can be at an investment bank, and he does it in a way that only Troob can. By the way, the illustration of him on the cover is definitely more flattering than Troob is in real life! Great job, Peter....

Everyone who has not worked as an investment banker and is willing to become one should read this book. This is particularly true for MBA's, because this industry is so glorified at companies' presentations and conferences while at business school, and actually nobody talks much about the downside. This book will tell you all you need to know - in a very funny way - about the worst of investment banking so that you can make an informed decision on whether you really want to do that or not.

This has been done before - and Michael Lewis did it with better writing. Lewis showed a unique journalistic flair for making somewhat esoteric financial instuments like CMOs actually interesting, and he showed a novelist's touch and insight through his musings on human greed and arrogance. Liar's Poker was both broader in scope and deeper in penetration than this fluff. Anyone of 10,000 people could have written this book - it's nothing more than a recording of events that took place in the brief careers of these spectacularly mediocre worker bees.

There are some good chuckles in here for everyone, and it paints a pretty decent picture of what new banking associates will need to endure during their first few years in the business (if they last that long). Even better, it is a quick read for those without a lot of free time on their hands to spend reading a book.

If your interested in what nubies to the investment banking world go through, this book is for you.
This book does for the world of first year investment bankers what Scott Turow's book One L did for first year law students.
I read it in two nights and would have read it non-stop if a little thing called work had not goten in the way.
This is a must buy book. Period.

This books provides both a clear explanation of what investment banking is about and a few laughs, all tight up together. I've read it from page 0 to page 274 and both front and back covers. I highly recommend it for those thinking about going into investment banking or simply working in Wall Street...it will open up your eyes...