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Gartman said Monday that he thought crude oil wouldn't trade back above $44 "in my lifetime," though he did say oil may have hit a short-term bottom.

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One measure of just how extreme panic among junk-bond investors has gotten is the difference between yields on high-yield bonds and comparable US Treasuries.

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That's in line with historical pass rates for Level I of thethree-part exam. In June, 42% of candidates passed the Level 1, while 44% passed the December 2014 test.

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Navigating through your first Wall Street job is not going to be easy.

Junior bankers work long hours under high pressure in extremely competitive environments.

But there's one thing you can do to help you stay afloat: Find a sponsor within the firm as soon as possible.