What constitutes a job as a “high finance” profession? How do you define the term?
I’ve heard it thrown around a lot, yet not a ton of definition to it. Is private banking and asset management included in high finance?
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Like all arbitrary terms, depends who is asking (i.e., if you work in XYZ industry, then XYZ industry must be "high whatever")
Personally, I think of the term "high finance" to mean the world of finance and related types that deal in true financial intermediation and/or are closed off or indirectly available to the public. So, investment banking, private equity, hedge funds, asset management (mutual fund mgnt type, not private wealth mngt or the person selling services to people on the street).
I think most of forms of banking (even the big time C&I type) is it's own deal, but anything like CMBS trading or anything where securities/derivatives are used I guess should qualify (meaning, big banks will have many areas of "high finance" not strictly in IB or AM). Maybe corporate banking belongs, but that seems too subjective for me.
Again, this term is just made up, so I really wouldn't fixate on trying to find any real answer.
Tens of millions to billions of dollars trading hands; transactional jobs
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