Why do people want to get into IB? It seems like when you start out all you are doing is editing ppt for 90 hours a week? Is it just all for the money and potential to earn a shit ton? What do ppl gain from starting their career in IB?
I have the same question. Do you also need to work that much if you have a quant / research position?
Intelligence bureau! It's like CIA of India. I am also totally kidding.😎
Nothing. IB isn’t as hot as it used to be Also the expected value of your TC as a SWE is considerably higher in the long run
Higher pay and bonuses. You'll become a multimillionaire much faster than if you stuck in eng tech. The tiers of pay are significantly higher. Good luck getting above a 250K salary (sans benefits/equity) before 31 in tech. Lastly, in my experience I've met more people business minded (MBA,JD, future MBA ) in IB than I have in tech. Greater connections and more likely to be promoted to exec coming from banking than I'd you're a SM at a tech company.
Lots of people in tech make over 250k. Most L7+. Not case at Airbnb?
Sorry, rephrased my statement to include age. If you think you can break 250K in tech with salary/bonus alone, no equity, then you're definitely one of the rare few. Associates can earn 250K easy after bonuses without any sort of equity in their first year out of MBA.
I though private equity was the hot thing amongst finance bros now
You go to private equity after a couple/a few years in banking first.
$$$$$
If you think about it, there aren’t so many careers that pay that much from the start (and keep going up): - tech/engineering: but you have to like coding/science - lawyer: you got to like writing and debating - doctor: huge student debt, long studies and must care a little bit about the profession too - banking: must have a minimum of analytical abilities and be a bit social. (The descriptions are very simplified and a bit stereotyped but you get the idea). If I wasn’t into coding, there’s a good chance I’d be in banking too.
BI?
Probably investment banking