Watch or No Watch?

I will be starting my analyst stint soon. Debating whether I should get my first high level watch. I have an extra 5k that I was planning to dump into the markets, but wondering if a watch would be a better investment. Seems like they’re somewhat of a status symbol in NYC. Any social/professional benefits of wearing a nice watch as an analyst?

Looking at the Rolex Datejust-Grand Seiko Heritage-Cartier Tank

 

This is my opinion and I only speak for myself. I think you should start off by getting a starter watch. Towards the end of my first year I got myself a Tudor 1926 as a first watch. Next year hoping to get a Tudor Black Bay (my dream watch). My point is get a starter watch and build off that. That way you splurge a little bit on a watch and have some money left over for a rainy day.

 

Nice the Omega De Ville Prestige looks like a pretty piece! As far as 1926 goes I am happy with it. My previous watch was an Apple Watch that didn’t work. So for me I am happy with the 1926 because it looks good and I can actually tell the time now.😂 For my first watch honestly no complaints.

 

If your colleagues don’t know watches they won’t understand why you bought a Grand Seiko. If you want a watch that is higher quality than most Omega’s and Tudor’s and maybe even Rolex’s in terms of mechanics and finishing at a price point that is comparable to Omega and Tudor or much cheaper than Rolex.

If you buy a watch just to impress colleagues or friends who don’t know watches sure don’t buy GS but that is a dumb reason to buy a watch anyway. Colleagues and people who know watches know GS well and know the quality and will be more impressed you aren’t some An2 blowing 15G’s on a Rolex to impress the ladies at Gem Saloon.

 

Blowing money before you start on a watch with layoffs at cyclical highs? 
 

echo the guy who said wait for your first bonus. The watch market is crashing anyway so you can get better value for ~$5k

dont buy a grand seiko - ever - they are priced at omega / entry level rolex levels and any colleagues that are into watches will question the decision. 
 

also - Cartier santos is more common among men - the tank is mostly a women’s watch…despite them having a “men’s” size..you can probably get a santos grey market or like new for $5k if you’re into it

 

Echoing your point the watch market crashing but should note that this is primarily seen in the preowned watch space (other than new Rolex’s which seems to finally be moving back to MSRP).

OP - I would recommend a preowned watch if going luxury. I bought new for my first watch but regretted it and have bought a much nicer preowned watch (like over $3k more if they were both new) for the same price as my new one.

 

Watches aren’t really investments. Always assume whatever you spend on a watch will never be recovered. Just spend $500-1500 on a watch you like (plenty of options) for now and save the rest. Two or three years down the line get a grand seiko or rolex and wear it forever. I currently wear a microbrand GMT that was about 1200.

 

I would recommend you : 

- Tudor BB54 

- Omega Speedmaster (second hand)

- Cartier Santos (mid size, second hand)

Not ethat these are pretty cool watches but not for an investment. 5k in a watch as a investment is a bit tight, or maybe if you buy a vintage watch but it requires a lot of expertise 

Edit : if you really want a rollie, you can look at the vintage Datejust 36. But I would rather buy one of the watches I mentionned 

 

Would wait and get a starter watch. No need to really go any higher yet than 1k, I would spend a couple hundred to start. Honestly first watch I got was the Orient Open Heart automatic watch. Its a dress watch for $200-$250 and I get complimented every time I wear it. The vast majority of people have no clue about watches or what they are looking at and the people that do, appreciate some subtlety this early on. 

 

Get a tissot PRX looks great and is $600. Getting an expensive watch early on will have a higher chance of hurting you than helping you. More senior bankers could possibly see you as irresponsible. A sub $1000 watch is a great place to start. The PRX will give you points with the watch guys and won’t hurt your image with the non watch guys who think buying a Rolex early in your career is being foolish with money.

 

There's no way you'll be able to find a relevant Rolex for under 5K unless it's very much used / a much older vintage. Similar to what other folks have said, would start with something simple and cheaper for your starter (Tissot, Tudor, Seiko are all solid). My starter watch was a leather strap Tissot classic dream and even my friends well versed in watches were big fans of it.

Once you know more you can definitely splurge a bit. I recently bought a JLC Polaris chronograph as my first real splash after my bonus and I've absolutely loved it (was going to buy a Rolex but saw this and completely 180'd). My 2 cents is that there's no point dropping serious money until A) you have a slightly better sense of watches and what each brand offers and B) you find one that really speaks to you

Congrats on the job and hitting the desk btw!

 

Est minima quia excepturi sed ut. Eum earum dolorum fugit placeat et. Eos non quo pariatur et sed.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”