How To Stop Caring About BB Rankings?
Every couple of weeks, some intern posts or comments their "Official 2020 BB Rankings" and gets a ton of MS thrown at them because no one's asking. I get the idea that once you're working in the field already, no one really cares that Bank A is marginally better than Bank B. Yet for some reason, I still find myself clicking on those posts just hoping to see that my BB will be ranked one step higher than the last time.
I know this post might get some MS, but I am looking for a serious answer about how to view BBs in a healthier way. Is there any real significance to the rankings? Am I just being ungrateful about having an internship at one of these banks?
Just try your best to ignore it. This site is full of weird, weird kids who wouldn't be able to hold a conversation with a girl
I don't think in this situation it's healthy to try and find ways that the person looking down on you is somehow worse than you. That doesn't do anything to remove your focus away from status.
Edit: There will always be people who are at GS/MS or BX or HBS or something like that that will also look down on you. Not all of them are "weird kids who wouldn't be able to hold a conversation with a girl." The root problem here is internal vs external validation, not necessarily who the comments are coming from.
Ladies love hearing how RBC is marginally better than UBS, no?
It's normal to compare yourself to others. Quite frankly without competition we would have not made such progress in society however there is a fine line between being competitive for the purpose of wanting to become better or enjoying the process of reaching a milestone and obsessing over rankings to the point that it irritates or saddens you.
If it's the latter then you are never going to be happy in life, your car isn't going to be good enough, house not big enough, prep school not elite enough, clothes not expensive enough, wife not hot or smart enough and as such leads to a grim outlook.
This is going to come down for not caring what other people think for things just in general, not just what bank you work at.
I dreamed of going to HYPW, but was rejected and am now at a T5 state school on a merit scholarship. I've seen a lot of success here, more than I think would have happened at HYPW due to the whole fish/pond analogy, but I still can't help but feel bad about not going to HYPW. That in some way I'm still a failure some how.
You have to understand that these things don't define who you are in life. I actually keep a copy of my Harvard rejection letter in my desk in my dorm. It talks about how the school you go to doesn't define success and that sort of thing.
I suggest you try to stop caring what other people think. Thats not just easy to do in one night, but keep reminding yourself of it, and eventually it will make sense to you. Sure you may not be at GS/MS, but you're still at a BB which is a fantastic opportunity. The bank you're interning at saw great potential in your resume, and the people who interviewed you pbviously liked you. Work your hardest there, and it will pay off.
You have climbed and are standing on K2 (the second-highest mountain in the world), and are looking jealously at people climbing Everest. Climbers gotta climb, but you also have to appreciate the journey and not just the destination.
Did you watch Free Solo? I thought what Alex accomplished was awesome, but my overarching feeling was mostly pity for him. He simply can't properly appreciate his accomplishments and always feels empty, thus his need to push the boundaries constantly. It's way more fun NOT being Alex and watching him climb than if you were to truly step in his shoes. It's the same feeling I have for social climbers -- I mean, good for them, but I wouldn't swap lives with Donald Trump (or any other President or CEO, or anyone else) for anything.
Part of it is just being happy and confident in who you are, and maybe a small part of it is coming to grips with how pitiful and small we all are in the grand scheme of things. Don't look to others to validate your worth.
P.S. a lot of people in this industry have massive insecurity complexes. Writing about "why" this is the case would take much more time. Suffice to say, please internalize that money will not make you happy, and this job basically provides you with money and some challenge. If you don't like the challenge, the money certainly won't do you any good, and you will be an empty vessel.
This should be part of the "Terms of service" before joining WSO
Rankings on WSO shouldn't bother you because everyone has a different opinion on here, and most of them are freshman that won't get into a single BB. League tables is a different thing, but you don't have to be at the best bank to be the best banker you can be. Maybe your BB will give you a slightly better lifestyle/stress than GS TMT/MS M&A, so you can actually spend time with friends/family. Just remember, there will always be someone in "higher rank" in life- this is a fact in life that everyone has to deal with. The Yale kids are looking at Harvard, the GS/MS kids are looking at the kids that went straight to BX/KKR out of undergrad, the MM Partner looks at the MF Partner (even if the MM makes more money), the F500 CEO looks at the F50 CEO. It's okay to use rankings for motivation, but not if it adds negativity in your life.
I used to feel similar to you about rankings and prestige. I used to feel unsatisfied because I didn't get into a T10 undergrad and went to a "public ivy" instead. Now, I wouldn't trade schools for anything. I've been closer to family and made so many great memories here. I also met my girlfriend in college. I also ended up with a BB offer- an achievement that many people at T10 schools are desperate for. You're at a BB dude, be grateful! You are making more money than almost anyone else your age. Live your life and don't try to be someone you're not. In the end, none of this matters.
Sorry if this is a stupid question, I'm new to all of this. What are different BB's other than MS/JPM/GS
You can easily google this but BBs are generally thought to be MS, GS, JPM, BAML, Barclays, Citi, CS, UBS, DB, and then RBC is BB level for the US (edit: oops, meant North America)
The BBs are GS, MS, JPM, Barclays, BofA, Citi, CS, DB, and UBS
Cool, everyone’s still taking an RBC offer over UBS & DBS
BB Rankings are really a college-student-driven thing - once you graduate college and start working, trust me noone cares.
No headhunter or PE firm is going to be like "wow this DB Sponsors kid is really impressive but it's not as a Top BB like GS/MS so let's given preference to the MS guys". I've seen countless people from what WSO views as "lower BBs" get offers over kids from what you guys view as "Top Groups" (including the all time famous and this forum's beloved - GS TMT), and this is not just a 1-2 time phenomenon - I see it more often that you think and I'm just one sample size.
The reason EBs tend to place so well is because their recruiting process is a lot more stringent, and are therefore able to weed out the kids who just simply are not well prepped (or did not bother to). BBs hire such large classes that it's impossible for them to make sure every kid is top notch and knows how to do a paper LBO on the spot and describe the tax implications of a Section 363 asset sale, whereas a place like PJT/EVR/MoCo can afford to do so. (obviously I'm exaggerating but you get my point). Naturally those kids who are better prepped tend to do better in buyside recuriting, not because their firm name is so amazing and whatnot, but because they were driven individuals to begin with - I'm willing to bet you that if the PJT RX kid had chosen to go to UBS Sponsors instead, he would have done just as well in buyside recruiting if that's what he/she was aiming for from the get go - a point that most of you college kids on this forum are unable to comprehend because "omg PJT RX >>> UBS, so all PJT must 100% place better right???"
Post ended up longer than I had expected but hope this provides some insight. When I was a banking analyst, the banking college peers who I was most envious of were not the ones who were at the "more prestigious" banks, but more so the ones who were able to go home earlier than me that night. It might be funny reading this but trust me when you actually start the work, you'll understand what I mean. I bet you my peers all felt the same way.