How to tell if I-Banking is your "true calling"

Hey guys,

Long time lurker, first time poster. To start off, I really appreciate how active everyone is on this site; the wealth of information posted here has really helped me a lot in my search for employment in the banking industry.

In my time reading this site, I've seen a lot of people talk about how there are people who want to go into banking for the "right" reasons and the "wrong" reasons. I wanted to start a discussion on what qualified as a "right" reason for wanting to go into i-banking. Obviously I don't consider "wanting to make $$$$" or "models and bottles" as valid reasons for wanting to enter in the industry, but what are the truly valid reasons for wanting to break in? Is it simply a passion for building financial models? Is it being really interested in certain industries (tech, energy, infrastructure, etc)? Is it wanting to work in one of the most prestigious fields of deal making?

Just wanted to hear what y'all think. As I've been searching for positions in the field I've asked myself occasionally if I want to go in for the "right" reasons or if I'm getting myself into something that isn't worth the sacrifices it requires.

 

I used to think about this a lot, but I came to the conclusion that as an undergrad you never really know if you're doing what you're doing for the "right" reasons or if it is your "true calling". I arbitrarily decided I wanted to do banking my freshmen year, and tried to reach that goal just for the hell of it. Over time, as I learned more finance I became more interested in the work rather than interested in reaching an arbitrary goal. Now that I have my bb offer for this summer, I see it more like something I'm going to try out and stick with it if I like it and leverage into something else if I don't. The great think about banking is that it looks good on your resume, so even if you hate it you have a great shot at corporate or big 4 or whatever else you'd rather do.

 
arguewithatree:
I used to think about this a lot, but I came to the conclusion that as an undergrad you never really know if you're doing what you're doing for the "right" reasons or if it is your "true calling". I arbitrarily decided I wanted to do banking my freshmen year, and tried to reach that goal just for the hell of it. Over time, as I learned more finance I became more interested in the work rather than interested in reaching an arbitrary goal. Now that I have my bb offer for this summer, I see it more like something I'm going to try out and stick with it if I like it and leverage into something else if I don't. The great think about banking is that it looks good on your resume, so even if you hate it you have a great shot at corporate or big 4 or whatever else you'd rather do.
I think this is a pretty mature outlook.
 

I don't believe in "true callings" - no matter what your job is, it will eventually become just a job.

You can learn to like just about anything. I am in financials equity research - no teenager ever thinks, "wow, net interest margins sound really interesting". I have read books on mutual funds for fun. Tax policy is one of my favorite discussion topics.

What I am trying to say is that your interests will change as needed. I would look at jobs with regards to how they fit your personality, work/life goals, and skills. Are you good at math, decisive, and calm? Maybe trading is right for you. Are you a ridiculously hard worker, a little risk averse, and something of a perfectionist? Check out banking.

At a certain point, you change. For instance, I love investing now. I find it fascinating. It is one of my main non-work hobbies. I don't think I would like it if I never took an accounting class, or wanted to pursue a career in finance. Your life choices will eventually change who you are, and therefore what your "true calling" is.

 

i agree with West Coast rainmaker. but on top of that, if you find yourself reading dealbreaker and whatnot, or other industry news, constantly, then it's a pretty safe bet you're actually interested enough to be in the industry without wanting to kill yourself 2 months in.

Remember, once you're inside you're on your own. Oh, you mean I can't count on you? No. Good!
 
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