Do you find Investment Banking to be fun, and be doing it if it werent for the sizeable compensation?
I am in my first year at college, majoring in finance and considering going into IB. However, I might also have the opportunity to go pro in a relatively niche sport (pole vaulting) and am in the very fortunate position where I could comfortably take a lower paying job.
Ive done a brief internship at a small boutique and thought the work was pretty good but that obviously doesnt give a reliable impression of the industry. So, I just wanted to ask for any opinions here, if you're doing it just for the money or if youd be doing it regardless of the money even if you had the option of going into sports etc without taking a major financial hit.
I would still want to be in the industry for less pay if it meant better hours too. Would I choose banking as an 80 hour a week job because I love it so much that I'd be content making 60k a year doing it in NY? Hell no
Personally I’m doing it more for the life it’ll set me up for (exit opps, bschool, everything). But no, if there were a pay cut next year I wouldn’t think the torture is worth it. My health and life are valuable and I wouldn’t be sacrificing those for anything less than a 1%er salary.
I probably would’ve chosen corporate law, medical, SWE at FAANG, MBB consultant, or pretty much any other “high achiever” job if I hadn’t chosen banking. I chose banking over those because I like finance and I like the career optionality.
Dude if you have a legit chance to make it as a pro athlete (and love your sport) don’t give that up to be a fucking IB analyst. You can always re-recruit if it doesn’t work after your first couple years or go to B-school later... you would def have an edge in either scenario since your story would be way more interesting than everyone else’s
Would never had done it without the financial incentive
"Fun" isn't the right word but in general I find the work interesting - I like learning about companies, talking with management teams and investors, doing financial analysis, and generally getting to work in a profession that is high profile and puts you in contact with major decision makers in the economy.
That said, it is not interesting enough that I would continue to do it for half the pay and the same hours.
I've worked an internship at a F500 insurance company and started my career in a finance role at another F500 company and both were 9-5 gigs (as in at 4:59 everyone was packing up). Let me tell you, those jobs were incredibly boring and it honestly felt like I had been there 20 hours by the time 5pm came around. How people did these mind-numbing corporate jobs for 20+ years (there were many in my departments) baffled me.
At least in IB the work is interesting and you blink and suddenly it's 5pm
I think if the exit opps (PE, CorpDev, HF, Business Schools) stay then yeah I would still do it cuz I am willing to sacrifice my short term (2 years) for my long-term. If you say that all these exit opps go away too, then I wont do it.
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