Is IB a dying industry?
Curious to hear thoughts on this as someone trying to break in down the line. Wouldn’t want to jump in if the industry is going downhill…
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In what sense?
I saw the comment in another thread noting that IB was a dying industry, but I wasn’t sure what they mean’t. Maybe relevant to AI and number of available seats?
Comp is basically the same in nominal terms since 2018-2019 while cost of living is up 40-80% in same time period depending on what metrics you use. Not sure if it hurdles nowadays relative to how much you get paid.
Does that factor in bonuses too? If so, then that’s rough…
This is broadly true with most white collar careers. The pay has grown much less than asset prices and especially mortgage prices. The ROI of white collar careers as opposed to business ownership is much lower now.
This. Please don't make career decisions based on long-term predictions by clueless people on an online forum.
Who knows if it's doomed. There will always be a relationship angle to brokering and landing deals, which requires humans. Will there be less analysts needed to format powerpoint, possibly. But you'll still get solid finance training that gives you optionality down the road.
Sure but what white collar career hasn't seen this? Even tech as a monolith has seen this, though select pockets like AI / data science haven't
Sure, I wouldn't build a full career on IB -- that is masochistic given you have the double whammy of 1) lower pay in real terms and 2) brutal hours. But the exit opps argument is a valid one with 2-3yrs under your belt
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