Why would anyone want to do banking besides the analyst stint?
I've always wondered this but never posted it as I don't mean to sound like a douche, but why would anyone ever want to go into investment banking after, say, the ripe old age of 26?First of all it's pretty commonly known that the main purpose of banking is for exit ops and that as an analyst you really are learning vast amounts of knowledge and technical skills within a short 2-3 year span. After that 90% of the people leave to go on to greener pastures.
So why is it that there are so many posts of trying to break into banking by doing something else for 2-3 years and going for a top 10 MBA? I'd be curious to see how many people actually follow through with that plan. Banking itself seems like a very boring career trajectory as all you're doing is try to pitch and win deals (as the senior role, i think most people would agree that corporate development or strategy is much more interesting). Furthermore even by breaking into banking post-mba you're just "that associate" who doesn't know jack but passes work down to the smarter analysts. I don't mean to diss on associates with pre-mba finance experience or direct-to-associate promoted guys, but I think the newly minted Top 10 bschool associate without pre-mba experience is generally seen as incompetent. I guess maybe if you're an MD you have a decent life, but you're still working longer-than-average hours, and when you're post-mba do you really want to be slaving away to get there?
So is it purely for the money, prestige, or what? I'm just wondering because it seems like if people want to break in out of undergrad but can't, they want to try again after bschool. But by then it just seems not worth it to me...