I am directing this to anyone who is recently a legal adult: If you go to an interview, and it is a GROUP interview: Don't take that job. There is a reason they are hiring people so fast. And it isn't "The company is expanding." - It is because they have high staff turnover. And you need to be really attentive in figuring out why.
Yup - also anytime a place tells you to "go home and think about it" and "tell us if you want to work here" and the old "hey, we aren't for everyone, let's not waste each other's time" spiel. That never ends well.
That's funny because drug dealer said that to me long time ago he told everybody to go out steal a car I stole police Captain car it was such a nice Range Rover
Having been in sales recruiting, training and management, I agree with the accuracy/importance of TRAINING his brokers, not hiring trained ones, so as to indoctrinate them into THEIR way, THEIR mindset and THEIR culture
This was also because the entire thing was a scam, and a real broker would have smelled it. So they only wanted hungry people that assumed everything was legit.
That's the reason they hire people with stupid degrees like political science and shit, they don't care what you learned, just that you have the ability to learn... and learn the job their way.
Hey Billy how are ya? I know your home after being away from a long time and you got mouths to feed…I’ll tell Tommy to go home and get his shinebox for you.
For the life of me I couldn’t remember where I got the term, “schlep rock” from because I jokingly use it all the time of my friends. And it was Ben Affleck.
Ben Affleck speech is a good one persuasion and manipulation scene which he was trying to get by his groups subordinate. He is really a very good actor.
After having attended a few group interviews early in my sales career KEEP AWAY from any company that will ONLY agree to a group interview = high turnover
1. The guy's reaction at :30 is classic. 2. Reading the comments, these kind of group interviews for scam-esque (selling steak knives like I saw in the comments is one that I remember going on) companies were very popular in the nineties.
and im sure the turnover was huge i was an outside tech to a sales firm that sold reconditioned printer cartridges....which was huge biz during the early 2000s high pressure work...but i never saw a supervisor berate any of the on floor salespeople what they did was put the dollar amount every salesperson had done for the week on a white board they were all in competition with each other much more like glengarry glen ross always be closing
If you want to be treated as a disposable commodity, then no experience is required! The guy with his series 7 was kicked out because he would have quickly realized that it was an exploitation scheme.
@@prmtryderx3 The Chipotle down the street is hiring high schoolers for 15 an hour. If you can't land a decent job in this tight labor market then you're looking in the wrong spot.
@@thevoxdeus Seriously though. This is an employee's market. You could probably walk into that Chipotle, ask for $17 with zero experience and they'd be like "you start tomorrow"
When I first saw this movie, I was in college, I’m an electrical engineer & Computer technician, it was the early to mid 2000’s…when he bounced the guy with a Series 7 Securities license, I paused the DVD & said to the chick I was watching it with, and the other couple “right there…that’s how you know they’re doing something fucked up…they’re not interested in hiring anyone with a working knowledge of stock trading & market workings, in reality, their recruiting would consist of college dropouts who were majored in things far from anything financial which would lead to an investment house full of Poly Shore’s character from _Son in Law_ & that would make for a far superior movie…”
I started in finance right out of college at a place somewhat like this. The reason he does not allow the person with the Series 7 to join? Because he would already know much of what they do is illegal and he would poison the other rookies. That is how boiler rooms always hire... newbies only. They train them their way, not the the right way. Also... opening 40 accounts while making $150 per week? Also standard for such places. 90% of the rookies will not make it. They might open 5-20 clients for their "manager" before being let-go or quitting. Those clients become profitable to the "team leader" (a broker who did make it beyond rookie status ). It's all a pyramid scheme. The $150 per week is a small price well worth paying to have a revolving door of rookies open accounts for you to drain over a year, long after the rookie gone. This movie is quite accurate. These kinds of "group interviews" happen about 2x/year to fill the boiler room with new blood. Those at the top of the pyramid are usually 27-38 years old and they DO make several hundred thousand per year because they make part of the commission of everyone under them. The successful brokers at these places make $100-250k. The less successful $25-50k. And the 90% that drop out? Rarely make more than the $150/week before they bail.
I went to one of the top private schools in Quebec and we literally worshipped this flick the way the guys in this movie worshipped Wall Street and gecko. I never did end up going into stocks
I was a time share salesman for a bit and the first day group interview was so similar to this, it's scary. The only difference was he told us we could make 100k a year if we worked our azzes off.
I can't even remember how or why I ended up at one of these to be a salesman at a car dealership, but it was the same thing as well. Some douchebag motivator that was hired to spew a bunch of garbage about lavish lifestyles of a car salesman and the perks that came with it to a group of wannabe slaves whose job was to manipulate and pressure people into making choices. I probably would have failed miserably if I had went through with it.
I was suckered into applying for one of these fly by night sales companies. In my case it was selling steak knives. LOL I noped right out of there. If something sounds too good to be true, it is.
Yup, been there. It’s why they only want the young brahs. Young dudes are very impressionable, they have no real life so you can dog em out 60 hours a week, you can pay them Jack shi and fire em. A lot of Ponzi scheme shi in the 90s and early 2000’s. Stuff you’d see in the news paper, and you’re interviewing and hired THAT Day
Reminds me of my orientation as a new "Financial Advisor" (i.e. stockbroker) at Merrill Lynch. Oh those were the days. Am I a millionaire? No, but the senior brokers who got my accounts after I left as well as others given to them by the firm certainly are.
Guy meets a broker at a marina. Broker says to the guy, "You should invest with my firm. See that yacht? It's mine. See those other yachts? They belong to my associates. Any questions?" Guy says, "Yeah, where are your clients' yachts?"
As a navy veteran and former supervisor, I would have said the same thing to the first guy. If you’re acting immature in the initial interview how do you expect to sell anything if you’re working for me?
As a managing attorney I have ended the process for 3 potential hires based on their rudeness to our staff, 1 for her attitude to the waitress during a meet/greet lunch and I fired a new associate on her first day for her treatment of the front desk security guard. If you can’t maintain a professional & courteous demeanor during working hours, you can try another firm.
Fast forward to 2022. Parent : how was your first day? Kid: i quit, their so mean. They want me to tell you fuk you but i value family more. I guess no Lexus this year. I guess ill be a teacher.
I worked in this field in the early ‘90’s, this movie is dead on accurate! I did make $150 a week. I worked for one of the most notorious chop houses on Wall St. These guys were doing highly illegal shit and tried to get me to do it. Needless to say….I didn’t last long. Now most of the shitheads I worked for are in jail!
At 1:12, when Jim Young asks about anyone taking the Series Seven Exam, he was so quick to exclude the guy who had a license because he knew he couldn't scam him. A legit broker like him smelled a scam the minute he walked in that room. Jim and his ilk want young, impressionable minds that never ask questions about the legality of the business.
this movie is partially based on jordan bellafort this is not how trainees or brokers were treated at the firm it is how brokers were treated at firms that were run by the mob...and there were a bunch of chop shops that were run by the mob
I never take a job where the "interview" was basically just them asking my name and age and it turns into a 15-30 minute sales pitch about why they're a good company with a job offer attached at the end. If they're "always hiring" its because it's high turnover, if they have to convince you to work with them like a salesman convinces someone to buy a product it's because it's a shit company and everyone who has worked there already knows it, if the job offer is given that day with no consideration of who you are or what you know then it's a job any schmuck off the street could walk in and do, so you will always be paid and treated as such. It doesn't matter what you do for a career kids, what matters is that you're damn good at what you do and enjoy the process of developing yourself and your skills to further distinguish yourself from anyone else in that same field. They should be convincing you to work with them because they already know that their competition wants you and has already offered you a much more substantial job. This is the free market at it's best and your skills and knowledge are the commodity in demand, this is not a bad thing. Find something you enjoy doing and derive a meaningful sense of accomplishment from improving or excelling at and grow from there, your value as a worker will grow with you. If you look at the market around you and find that the thing you get the most joy from doing has little to no demand in the free market and doesn't command "enough" money do NOT use that as an excuse. People who work jobs they derive no pleasure from become jaded and depressed with a looming sense of inequity and futility. People can easily waste the entirety of their one chance at life doing something they hate at the cost of their own happiness all for some preconceived notion of what a "successful" or "fruitful" life looks like and costs. If you don't make enough money in the pursuit of doing what gives you purpose then make a sacrifice, either give up the standard of living you're most accustomed to (not as bad as it sounds), give up the career that fits your niche perfectly and find a career that is closely adjacent to it, or sacrifice extra time to be able to finance the pursuit of your goals or lifestyle. Lifestyle choices are quickest and easiest to change and arguably have the most dramatic impact on your personal cost of living, owning a home to call your own is always a good thing but who ever said the home had to meet some bare minimum of value or "presentability" so you have something you can show to others as a sign of success. You define success and quality of life yourself, not others, needing to have certain things because others told you that that's "the bar" is not being a free thinker but being a sheep. Many complain about how many sacrifices they must make to maintain some order of "minimum" living standard (which has become increasingly more archaic and vague as to what that minimum even is). They sacrifice health, mental well-being and existential wellness (a sense of belonging and purpose despite the seemingly apparent "futility" of it all) and all of this leads to suffering and the propagation of an emotional sickness which leads society to a submission to nihilism and eventual collapse.
I'm spamming every single clip with a generic inspirational/motivational/angry monologue with, ''The Academy is a joke. How didnt he get an Oscar for this?''
This speech shows that in order for you to become a millionaire at this environemt you have to rip people off, imagine a family of 4 now. Dont ever encourage anybody to do this to others
I bet you that guy with the Series 7 license that had to leave by Jim Young (Ben Affleck) is probably ROFL!!! that the FBI has raided the firm at the end of the film.
The reason they didn't want anyone with a license already is that they would know the company was breaking the law before they were in deep enough to be willing to look the other way.
word of advice to the young adults in sales, climb the hierarchy and that's where the money resides, if you stay at the bottom as a regular agent you are just sheep ready to be disposed of and replaced by a new hire, once you become one of the senior managers or even higher, all that money they promise you'll make when you start actually becomes achievable, it's also a plus if you're a psychopath with a huge work ethic LMAO
Golden handcuffs. Been there done that. It's not worth the stress and damage it does to your health. It's not too good for relationships either. But, hey...you'll make a lot of money though, right.
The farther you get away from the product the more money you make, the guy who makes the product at the factory is making $50K.... the guy selling it is making $65K,, the guy who owns the store, is making $100K,,, the guy running the mall where the store is making $250K The guy whos company owns that mall makes $2 mil, The guy who heads the real estate investment fund is making $10 mil and so on and so on.
I don't get the line "see how it feels when you're making their lexus payments" in the context of this speech. lexus payments on a weekly or monthly basis isn't that much for a salary.
For those of us who work(ed) in the Financial industry these movies are so old and tired. It's all about greed, wealth, power. So much BS. In this speech he never once mentions what service they are providing. You are preparing clients for retirement, for sending their kids to school, to find investors in companies that will create jobs, provide a service to society and create dollars that lead to more research, more opportunities for the masses to be involved. Sure there are the idiots that are looking for nothing but the buck but they never make it because they have the wrong intentions and wind up fired or in jail. Your job is to put the clients need first. If they don't need it, you don't push it. There is no feeling like when that middle class couple comes in and wants to invest towards retirement with little equity and you find a way to make their dreams come true. You listen to what their goals are and apply your efforts to best suite that. Very few people that work in this industry are millionaires. Some make a great living but most just make a moderate living.
Every time I see this scene I’m a little let down. I wish so bad that the guy who sat in Bennifer’s chair had his series 7!!! ‘Have a seat, we treat all coworkers with respect’ ‘Who here has a series 7’ (Guy who sat in wrong chair) ‘I have a series 7 license’ (Bennifer) ‘Get the fuck out of here!’ We missed out
I don’t care who you are, if you are an entrepreneur, you can relate to this, not the corrupt aspect of it but the power of it! A lot of being successful in anything is pre-determining and claiming victory as the end result. But success is not possible long term unless you are helping people get what they want that benefits them, not you. So the reality of success is more altruistic than portrayed here.
That is the biggest load of shit I’ve ever heard. Success isn’t possible without helping others be successful? You don’t know what you’re talking about. I bet you give just the BEST “get rich quick” seminars. Can you help me become a millionaire, please?
@@gnarlynicholasreviews It’s called servitude, serving others, benefiting and enriching others lives. Yes success is achieved through either helping others succeed that you have a vested interest in or helping to improve the quality of life for others by solving problems. What part of success do you have a problem with or not understand? Good luck living by the cliches of the broke!
I always thought this movie just tried too hard, it wanted to be Wall Street or other similar movies but it just lacked authenticity, something just seemed fake and poserish about it...
