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Interesting post by Cal Newport today on his Study Hacks blog. See Here: http://calnewport.com/blog/2012/02/18/can-i-be-hap...

Personally, I think the hours and crap you have to deal with make it a pretty terrible career for a good quality of life, but I also think it can make you a stronger person if you go through it.

Do you think you can be happy as an investment banker?

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Comments (17)

  • leveredarb's picture

    u just rly rly have to love doing deals.

    i personally really really hate investment banking and dont see why the fk anyone would want to make it a long term career but I guess some sick fucks enjoy this stuff :D

  • BTbanker's picture

    I think that most people go into it thinking they will either move to PE or HFs after 2-3 years.

    I think being a bitch for 2-3 years is worth living well for the rest of your life...that is if you're smart with your money.

  • TeejNyc's picture

    I have two buddies who really enjoy ibanking, definitely the exception not the rule...a lot of guys on this board glorify it like it's some hardcore military academy that builds skills and character, but really you're just an excel and powerpoint monkey trapped in the office for way too long for the best years of your life. I guess hardships make people stronger, but there are definitely better options...

    For reference, I'm actually your ib -> pe guy...I'm happy with my pay, and work is sometimes interesting...but definitely not the most satisfying thing...

  • UFOinsider's picture

    Pay off all debts?
    Legacy changing income?
    Access to the best schools on earth?
    Access to the best professional networks on earth?

    All I have to do is work long hours for a few years? YES, totally worth it.

    Get busy living

  • pacman22's picture

    I can understand why someone would want to become an investment banker. However, I think that people most people have misconceptions about what it can actually do for you..

    Legacy changing income? Doubtful. There are many more efficient ways to make money than ibanking.

    Access to the best schools on earth? Doubtful. You don't need to be an ibanker to get into the best schools. You just need to be different and this is something most people won't do.

    Best professional networks? Give me a break.

  • Ecalw001's picture

    I think some people are just passionate about the work and lifestyle. That is why I want to be an Ibanker. Don't get me wrong, I have not worked as one yet but I am working really hard towards it.

    I am a workaholic and have worked 16 hours days many times in my first job. ( at least 1 a week )

    I love working with numbers and the love the idea of finance alone. I think finance is a very interesting idea

    It in itself is an accomplishment. It helps shape people and I want to work as an Ibanker for some years then maybe go to PE or HF.

    Overall I think its a lifestyle choice more-so than a career.

  • ibhopeful532's picture

    ^

    This is flame right? Let me assure you, the "idea" of finance is far off from the reality of it. Sincerely wish I spent my undergraduate years learning something else instead of trying to 'break into' Wall St.

  • Ecalw001's picture

    It was serious, but when i used the term idea i did not mean in academia terms.

    I put idea as to shorten what I am about to type below.

    What I meant by idea for me personally is the concept of working in a fast paced environment in a large city in a competitive environment.

    Something along those lines. Not the idea that they teach in school. I am from a non-target so they do not even mention Wall Street.

  • In reply to Ecalw001
    elephonky's picture

    Ecalw001:
    I think some people are just passionate about the work and lifestyle. That is why I want to be an Ibanker. Don't get me wrong, I have not worked as one yet but I am working really hard towards it.

    I am a workaholic and have worked 16 hours days many times in my first job. ( at least 1 a week )

    I love working with numbers and the love the idea of finance alone. I think finance is a very interesting idea

    lol...? I think you should've just gotten to your third sentence ("Don't get me wrong, I have not worked as one yet...") and stopped there.

    OP, I'm not an investment banker, so I can offer you no advice as to whether investment bankers are "happy" or not. But I suppose you'll find happy and miserable people in all professions, so you must choose before pursuing a career whether you intend to shoot for happiness or "success" (whatever the fuck that means).

    Every response to this thread (including mine) can only be anecdotal and thus fairly useless in providing you an answer that you desire. On the whole, one can assume that IB is a fairly miserable profession starting out, but that it improves as you move up the ranks. I'm sure this concept will be reinforced by other posters who are actually in IB.

  • In reply to elephonky
    UFOinsider's picture

    elephonky:
    I suppose you'll find happy and miserable people in all professions

    Yep
    elephonky:
    you must choose before pursuing a career whether you intend to shoot for happiness or "success" (whatever the fuck that means)

    False dichotomy much? The two are not inversely related. You can have one with or without the other.

    Get busy living

  • cplpayne's picture

    Do people actually consider IB a hardship? That's a joke right

    "One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger

  • aempirei's picture

    Everyone says analyst years suck, but don't most entry level positions? Realistically, what other professions are going to offer more meaningful, satisfying, well-paying entry level work?

    In another thread there are the videos of the rope swing in Utah, and that is being filmed by some young 20-something kid ... yah that is sick and I wish I could be doing it but I can't ... so I pursue IB.

    My name is Nicky, but you can call me Dre.

  • prospie's picture

    blackrainn:

    ...but I also think it can make you a stronger person if you go through it.

    This is just sad. Let's not make it out to be more than it is. It's a job, not a religious experience. You want to be a stronger person, join special forces, don't sit around drafting prospectuses and adjusting bar graph colors.

  • LDNBNKR's picture

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  • In reply to LDNBNKR
    Whiskey5's picture
  • In reply to UFOinsider
    elephonky's picture