Is Investment Banking worth it?
Hey kids, So I just started working a month ago, and I am absolutely loving it. I start work at 8 AM, I get done between 5/6 PM, and I have lots of time to exercise and hang out with my friends. The job I have currently is not the position I was originally recruiting for, and for the longest time (because all my friends wanted to do it) I wanted to be an Investment Banker. Based on what I was reading on Wall Street Oasis, the work culture seemed to have a lot of camaraderie, the pay seemed insane, and the hours seemed like something I just had to muscle through like I did with competitive sports in school. I did an internship with Morgan Stanley, and although I didnβt love the work, I loved the pay. However, one of my family members who runs a Hedge Fund told me that I absolutely should not do Investment Banking (he was the one who got me the internship to try and show me how horrible it was). For all you Investment Bankers out there, is IB worth it? What are the main upsides of going into Investment Banking after undergrad? Iβm working as a rotational analyst in product management, are there any advantages my peers in Investment Banking will have over me? If so, I would love to hear what they are. Thank you so much!! #sellside #ib YOE: 0 TC: $127K
A lot of this depends on your priorities. My advice is think of IB as essentially a βsafeβ way to a relatively high pay bracket. Its well structured and unless you are terrible, moving up the ranks is a simple war of attrition. If you arenβt interested in it long term, do your analyst years and use it as a springboard to other roles. You donβt want to be a VP in IB and asking this question (your skills largely not applicable to most exit roles at this point).
Did you post a similar thread some months ago or was that someone else (thread was about someone in PM, wanted to go into IB, family/relative in finance told them it wasn't a good idea, etc etc)? And to your question: It's not for everyone. You have to decide whether you can handle 90+ hours per week and shitty wlb.
Found it: https://www.teamblind.com/post/TmHqrTwC Your TC seems to have gone up since the last post - and I think it's the same person because the story matches. Were there any explanations in that thread that you needed clarification for? Thread seems almost identical.
Oh yeah thatβs 100% me, I have a brain injury so I forget things really easily. My TC actually went up because I started working in NYC instead of white plains, so my TC became way more competitive.
If ur asking this question, then no its not worth it for u
Reasons I see to do banking: 1. Intense environment at the start of your career with a lot of paths to go after 2. Money, but not really at the analyst level. Why people really do this is because of how the comp/hours worked scales over your career. Granted less hours worked /= less stress 3. Genuine interest in the work being done Gotta have a decent amount of #3 or youβll burn out, not perform well, and therefore miss out on the pay/exits banking provides TC: $135k all cash 1-YOE
Are you in IB?