Is banking worth it in this political environment?
IB
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(Senior Orangutan, 410
Points)
on 1/12/10 at 4:14pm
Hey all,
Do you think it will be worth it (apart from the normal issues of sacrificing your life, etc) to even go into banking as a mid-level banker considering
a) bonuses (which are already taxed at 45 percent) will get taxed higher (a la UK) due to populism/politics
b) the risk of getting lynched by a tea-bagger





As long as there are
As long as there are successful people, there will be fat, bitter and mediocre people resenting them for being everything they're not. They at some point in their lives come to the same realization Henry Hill came to at the end of Goodfellas, which was "I'm an average nobody. I get to live the rest of my life like a schnook." And they need to find someone to blame.
Its my view that banking, or any other ambitious life trajectory, is ESPECIALLY worth it in this environment. Because I look around and see what a fucking schmuck I would be if I were like everyone else.
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Halberstram you have a
Halberstram you have a miserable life and it is going to be sad when you realize that.
This is not a british site.
This is not a british site. so yes if you are
a) in britain
b) work for a british bank
then you should probably killself. As for us Americans, I think I'm happy with my bonus and career path.
"Its my view that banking, or any other ambitious life trajectory, is ESPECIALLY worth it in this environment. Because I look around and see what a fucking schmuck I would be if I were like everyone else."
I love this man. Agree 100%.
Banks are very good at one
Banks are very good at one thing--paying their employees. Sweat equity gets rewarded. Compensation will always find a way in. Just think, stock options were supposed to be the end all answer to monitoring executive compensation, and we know how that went.
On the other hand, if you're only in this for the money, you're going to hate yourself 364 days a year and be happy on bonus day only. As much as the money is a nice incentive, it's not the only one. Crazy thought--some bankers enjoy what they do!
Oh well, just my two cents.
TigerWoods wrote: Halberstram
Halberstram you have a miserable life and it is going to be sad when you realize that.
I must have struck a nerve. Which one are you: fat, bitter or mediocre? I'm guessing all of the above.
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It's kind of distateful to
It's kind of distateful to have a moderator on the site speak so unprofessionally but I somewhat echo his point. You don't back away because the masses tell you not to ... they did that during the cultural revolution and that set China back 10 years
I'm not a moderator nor is
I'm not a moderator nor is this a professional setting.
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Heres hoping dummies like
Heres hoping dummies like 1styear do not piss off these morons even more and actually make these so called daily discussions i see on "dealbook" about Obama taxing finance jobs not come true.
Though as Marcus mentions. Seriously if your scared of the taxman your in the wrong profession, if bankers were scared of the public, taxman etc...We would not have the various financial crises we have had in history. Smart dudes will always make money.
A psychologist would have a
A psychologist would have a field day with you. Exhibit A) You get the jollies from proclaiming your greatness on an investment banking internet forum followed predominantly by undergrads looking for job advice.
Screw the populus. Go forth
Screw the populus. Go forth and make bank.
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"I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcom
Marcus_Halberstram wrote: As
As long as there are successful people, there will be fat, bitter and mediocre people resenting them for being everything they're not. They at some point in their lives come to the same realization Henry Hill came to at the end of Goodfellas, which was "I'm an average nobody. I get to live the rest of my life like a schnook." And they need to find someone to blame.
Its my view that banking, or any other ambitious life trajectory, is ESPECIALLY worth it in this environment. Because I look around and see what a fucking schmuck I would be if I were like everyone else.
Here here!
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"I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcom
Its "hear hear" u idiot
Its "hear hear" u idiot
GordonsGecko wrote: It's kind
It's kind of distateful to have a moderator on the site speak so unprofessionally but I somewhat echo his point. You don't back away because the masses tell you not to ... they did that during the cultural revolution and that set China back 10 years
Well done. I really like the indirect comparison of doing banking today as being the same as being against the cultural revolution back in the Chinese history.
Just one comment to Marcus. The way you describe yourself looking down to people who somewhat lead a more "ordinary" life than you do is just an evidence of immaturity to me.
(I am not saying that you are, just judging by the single comment above you appear to be). For instance, I have met a person who did really great things I would never consider myself being able to and guess what .... this person works at a healthcare insurance company and even more so in a 9 to 5 job where overtime work is being counted.
If you work at GS then you
If you work at GS then you might need to get a gun
It may currently not be
It may currently not be 'cool' on main street or pay as good currently as it did earlier -- if these things make you doubt banking is a great career, then go look for a job elsewhere.
Alot of politics is all talk.
antibanker wrote: Just one
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I know it's very early and
Marcus Halberstram, nice
Exceptionally long post, and
Good stuff Marcus. If I had
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Here here!
can't say it better than
eiffeltowered wrote: Hey
Great post Marcus, my
Marcus hit it on the head.
Brilliant post Marcus!!
Marcus, thanks for the
Marcus_Halberstram: antiban
Jesus Marcus... How'd a man
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
Marcus Halberstram, Perhaps