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I ruined my life
Came across a Reddit post laying out the hierarchy for Finance jobs. 1 - KKR/BX private equity 2 - Goldman TMT/MS M&A (top IB group) 3 - Top 3 BB (GS/MS/JPM) IB 4 - Elite Boutique (Evercore, PJT) IB 5 - Mid-tier BB (BA/Citi/CS/Barclays) IB or MM PE 6 - Top BB sales/trading and GCM 7 - Lower-tier BB for any front office job (not WM) 8 - Mid-market front office job (not WM) 9 - Any wealth management Can anyone confirm the above?
pure finance jobs will be replaced by AI/ML soon
tell me in your own words what an investment bank does first then I'll consider it lol
As a developer of said technologies - No.
Sounds about right
This is directionally correct.
What about VC/HF? Also this is so stupid because its purely based on perceived prestige. Sooner or later you're going to realize its not going to matter for jack shit, and other things (passion, role, experience, culture, WLB, pay, team, etc. etc.) mean so much more than what other people think of the company you work at
#1 by a mile is renaissance technology. Then KKR/BX are similar to other top tier HFs. Then the rest is roughly correct
Wouldn’t really say RenTech is possible straight out of undergrad.
They have hired some in the past (you need to be extra brilliant), but the post also didn't specify undergrad vs grad school
0 - Hedge funds & prop shops 0.5 - VC
OP said straight out of undergrad. Just about impossible to get into VC right after graduation.
I don’t claim to know, but every year there must be some Stanford undergrads who weasel their way into VC right?
You know who is attracted to sports cars? Other men. You know who is impressed about your low quality of life FO job? Other men. Your future wife doesn't care about the prestige of your job if she can't intenract with you for 80+hours a week. Do it for the money and find the best WLB. Everything else doesn't mean much.
^^ op sounds young and optimizing for all the wrong things
Very well put
First 5 sounds about right. 6 could be higher if you are talking about comp for top performers. S/T top stars can literally earn millions at a very young age whereas that’s impossible at an IB unless you are much more senior. Not sure about 7-9
Yeah I’d put credit derivative trading at a very different level from cash equity sales. Former much more in line with difficulty of higher levels to get and much more quantitative, while latter uses a similar skill set to the IB type roles
Looks about right.. PE is def the top lol
Might want to note that some banks hire individuals who skew heavier towards “relationship management”, individuals who can talk and can’t crunch technicals as well as those hired into other banks.