Having modest expectations; ridiculous?
Hi. Investment banking is definitely something I'm interested in, though I'm not particularly keen on working myself to death especially in my best years. It's not something I couldn't do, but it's definitely not top of the list.
Seems like a lot of the people here are dead set on going through the grinder that is "real" IB in say, NYC or London offices. They want the comp, they want the experience. It does seem appealing. I'll say I've been tempted myself.
But for anyone who does read this, I'd like to know: how do you feel about just going for more modest positions and climbing up the ladder there? Even if still in IB, doing it at a less intense, regional shop for example. What I'd do is work for a Nordic shop (happen to live here) and move elsewhere if I get a better opportunity, or stick around if promotions are somewhat steady.
I most definitely don't know what I'm talking about. I'm not studying finance, I'm not in university yet. I'd just like to hear your opinions.
Once you’re in the seat,it’s not so much about trying to have modest expectations as being called upon/dragged along to meet the high standards and expectations that naturally come with every deal. You can try laying low for a bit, but sooner or later you are asked to meet the rigor.
Not exactly what I was looking for, but this is important, yes. Perhaps it's my poor wording.
If you're able to land a seat and are able to handle the workload while working out and focusing on having a healthy physique, once you leave you'll basically be set for almost any chill career in your career. You'll know what working under pressure is while also having the discipline to not over eat, drink too much, etc. It's a hard industry but the challenge is worth it if you want the resume credentials.
This I see as the reason very often, and it's certainly quite agreeable. Thank you.
I'm not totally sure what kind of response you're looking for. But I'll make two points which may be vaguely useful.
1) You can (*shocked face*) have an interesting, successful, and well-compensated career in IB by working at a "less intense" shop. If you are capable, you will be paid a lot better (at the SENIOR level) as a heavyweight at a smaller shop than a very average banker at a US BB.
Of course, you may be regarded as "less prestigious" by (literal) strangers on internet forums which use ape faeces as de-merits, so there's that to consider. Especially if your self-worth depends somehow on perceived "prestige".
I do think that, all else equal, having a better "brand" on the top of your CV is better than not. But not at the expense of everything else.
2) Intensity depends a LOT on the individual team and bank. Not all teams at US BBs are super intense, and not all teams at mid market regional banks are chill.
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