High school senior in need of some career advice.
Hi,
I just have a few questions regarding what life is actually like in investment banking, so I can make an informed decision on whether or not this is for me. I'm certainly very lucky to have discovered this site, and I want to hear from some people who've actually been in the industry. I'm trying to decide between the actuarial profession vs. the investment banker profession. Parents warn me about the hours/lifestyle of investment banking (they encourage me to instead be an actuary), they tell me a story about how one of their friend's sons who works as an investment banker couldn't even describe the outside of his apartment to his parents since he gets up in the dark, and goes home in the dark.
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I know the hours in investment banking are long, but how intense is the work? Are investment bankers always working under stress, or are there times when the workload isn't bad and it's just sitting around at a desk? I've read quite a bit about what the hours are of IB vs PE vs HF, but not so much about the intensity of the actual work.
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How is the employment outlook for investment banking? In other words, is it easier for a college grad to get an investment banking job now or 10 years from now? I've seen some differing opinions on this. I know the employment outlook for actuaries is generally considered to be bright.
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What are the top three skills an investment banker needs, besides good quantitative and communication skills?
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How much of a meritocracy is banking? I know trading is, but what about banking? Again, I've heard differing opinions on this.
I don't actually plan on being an investment banker for life, but the exit opportunities are very attractive to me.
Wow what an original thread! Definitely don't fuck off and use the other 500 threads titled "High schooler looking to break into IB"
Now that is funny!
Search function
It's a Friday and I'm in the office past midnight waiting for revisions (i've kept my boss up this late too and he probably hates me now)
investment banking employment outlook is looking great because of consolidation and companies making some big moves, hopefully you read the news
attention to detail, eyes like a hawk, not have a girlfriend
others may disagree but i think banking is a meritocracy for sure and if youre shit you get singled out quick
aren't we all looking for exit ops
I've seen some profiles of people just staying in banking and just getting directly promoted... I'm assuming those are the outliers who truly enjoy banking?
Those are the people for whom the associate promotion is the most attractive option. Whether that be because they did not find any good exit opps, enjoy banking and the comp that goes with it, are extremely risk averse, or some other reason entirely is dependent on the situation.
If you're a good analyst, most banks offer analyst to associate promotions after 2-3 years. Some analysts take that promotion, other's don't.
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