Is Investment Banking the Right Path for Me?
I wrote this a couple weeks ago and only got 1 useful answers, so i'll try again:
I am currently in my final year of university in Chile and I have always had a strong interest in finance. After some consideration, it all pointed towards investment banking, as it offers great learning and growth opportunities. However, I have some concerns about whether it is the right choice for me.
I think I have a profile that fits IB. I studied in the best business school in Chile reaching the top 2% of my class. I believe that Im capable of getting a first-year job in a top-tier investment bank (in Chile), such as JP Morgan, BofA, or Goldman Sachs, or one of the large Chilean or Latin American investment banks. I did an internship in one of the largest asset managers in Latin America, which I know may not be viewed as highly as an investment banking internship in the US. However, I have been told by an associate at JPM that in Chile, the asset manager where I did my internship is highly valued and it shouldn't affect me negatively, but positively, when looking for a job. I've also thought about IB more as a stepping stone and dont see me there after an mba, i would prefer to exit and move to other areas.
From what I've read, heard, and learnt what most interests me is private equity, but I understand that it is generally necessary to start in IB before transitioning to PE. Also, there is a problem that private equity is not widely developed in Chile and Latin America.
My main concern is whether investment banking is the right path for me. I am not sure if I want to lose my 20s working so much and stressing out. I am concerned about the long hours and the impact they may have on my personal life, including relationships, family, friends, sports, and leisure, and I worry this may burn me out. I speak with my friends, who aren't even thinking about their career, but I know they are unwilling to work long hours. I also have a problem with IB that I feel it doesn't generate value to society. Maybe it isn't that bad as I think and I end up loving IB and want to stay there all my life, but I wonder if it isn't worth it. I am uncertain whether sacrificing my 20s for a few years in investment banking to gain experience and learning before pursuing an MBA is worth it.
I have been exploring alternative options, including corporate finance, asset management, and consulting. While I find corporate finance interesting, I am unsure whether starting in this area is the best choice for my long-term career in finance. I believe that starting in investment banking, building a career for a few years, and then pursuing an MBA before transitioning to the financial area of a real-world company may be a better path for me. While I enjoyed my experience as an intern in asset management, I am not enthusiastic about the first-year analyst jobs in this field. I am more interested in the work of portfolio managers, assistant portfolio managers, or traders, but I understand that these roles require more experience. Nonetheless, I believe that being an analyst in investment banking could benefit me if I decide to return to asset management in the future. Finally, I have also considered consulting, which I find engaging and value-generating. However, I am more passionate about finance than consulting, and I have focused my studies and career goals accordingly.
Thank you for your time and i appreciate any advice.
The reason why no one has given you a helpful answer is because only YOU can answer this question. IB is not something you enter on a whim, if you are not dedicated then don't do it because you will fail. You wont fail because it is hard, you will fail because you will not see any future value in the b.s. grunt work you have to do for two years. Its really that simple.
So the question can only be answered by you, do you want to do IB?
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