Does anyone want to be an MD?
Hello from a new site member. I’m probably an anomaly, but here goes: I’m a business writer pursuing a creative dream on the side, writing a novel. One of the main characters works in investment banking as a VP in M&A at a fictional Wall Street bank. Novel is a military/family drama (plenty of guns and explosions).
In my quest to write realistic detail/not make up crap, I’ve been lurking at WSO to learn more about the finance industry, career paths, personalities, etc. Compelling reading and lots to learn!
Seeing the recent departures, I’m curious whether it’s common to want to stay in investment banking long term. Does anyone genuinely aspire to become an MD? Or is this a role one gets stuck in, or that is suited to certain personalities, e.g. intensely Type A/competitive/workaholic?
Annabeth
General consensus is to do the 2-3 year analyst program and leave. I think I am the only person that I know in this line of thought, but I see myself staying in banking trying to become an MD.
What is this "trying" shit bro!?
Doing the leg work of executing a deal as a junior banker is much different than sourcing the deals as an MD. A lot of moving parts that go into climbing the ladder and into that role. So I'm working on it bro...
If you're in Capital Markets, you're probably more likely to be looking to become an MD due to the lower exit opps. Applies for S&T as well. In banking, I don't think most people set out to become one, but it obviously happens.
People going in at the analyst level (ie out of undergrad, which seems to be the majority of this board) are mostly looking to do banking for a couple years and then move onto Private Equity or something similar. I would think that the majority of people going into banking at the Associate Level (post-MBA) are in it long-term and looking to make it to MD.
Obamacare? 4 years of brutal med school, and those loans? Fuck that. I'd rather do investment banking and climb my way up to managing director.
Thanks for the quick responses, greatly appreciated.
Doloremque libero quis aut reiciendis voluptatem. Omnis quia sed nostrum est non. Consequatur quasi nemo est repellat quasi.
Commodi eum architecto iure sequi. Repellendus architecto et vel sint ea. Est sed aut eos occaecati et repudiandae. Distinctio eum a rerum dolor consequatur.
Voluptates nihil autem aliquid qui rerum facilis illum. Similique vero reiciendis et vero quaerat blanditiis deserunt. Magnam sunt quo expedita illo soluta ratione.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...