Is IB glorified?

Capital One N3ZcsG
May 13 17 Comments

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?

comments

Want to comment? LOG IN or SIGN UP
TOP 17 Comments
  • Airbnb / Finance
    unemployd

    Airbnb Finance

    PRE
    Accenture
    BIO
    Sup
    unemploydmore
    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.
    May 13 5
    • Jet.com yuppppp
      Lots of people in tech make over 250k. Most L7+. Not case at Airbnb?
      May 13
    • Airbnb / Finance
      unemployd

      Airbnb Finance

      PRE
      Accenture
      BIO
      Sup
      unemploydmore
      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.
      May 13
    • Facebook AyyoLeMayo
      A lot of the comp in tech is stock, whereas IB is only cash. This is not a fair comparison
      May 13
    • Google notachad
      Why do we count IB bonuses but not tech equity? Makes no sense.
      May 13
    • VMware / R&D brogramr
      Yeah why would you count out your RSU? If you work at a public company, RSUs are arguably better than a fat bonus
      May 14
  • Google / Eng
    Qlan

    Google Eng

    PRE
    Google
    Qlanmore
    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.
    May 13 2
    • Google notachad
      Are you enough of a Chad tho? Because you would get styled on by the bros if not.
      May 13
    • Google / Eng
      Qlan

      Google Eng

      PRE
      Google
      Qlanmore
      Yeah the bro-socialness would be a big pain for me for sure but I still think I can survive there (I have good friends in finance so I know what I’m talking about).
      May 13
  • New PcNF27
    BI?
    May 13 1
    • Indeed / Eng lty
      Probably investment banking
      May 13
  • Indeed *NDEED
    I though private equity was the hot thing amongst finance bros now
    May 13 1
    • Google / Eng
      Qlan

      Google Eng

      PRE
      Google
      Qlanmore
      You go to private equity after a couple/a few years in banking first.
      May 13
  • Chase AAxo87
    $$$$$
    May 13 0
  • TriNet / Eng yOXI71
    Intelligence bureau! It's like CIA of India.
    I am also totally kidding.😎
    May 13 0
  • Indeed / Eng lty
    I have the same question. Do you also need to work that much if you have a quant / research position?
    May 13 0
  • Facebook nr0
    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
    May 13 0