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what page was the article on?
I believe the article kmahajan is referring to is "Best of Times is Worse for Investment Bankers". It was on page C1 of Thursday's WSJ.
If you've got the journal online the link is below: http://online.wsj.com/article/SB117270881675022698-search.html?KEYWORDS…
Its been about 30 years that I-banking hasn't been sexy, and the world at large dislikes I-bankers.
For a lot of the people who do it, its still great fun and a great way to make money.
You don't pay $30 million M&A fees for uselessness.
Yep. People forget what this business is: acting as a middleman between different companies with access to the financial markets. Those in actual corporate development view it as an uneccessary expense. Tech companies use internal ex-bankers to minimize costs (Google is an innovator) as many intend on leaving banking.
Bottom line, kids idolize banking due to the money and challenge.
Trading = higher pay, better hours.
Trading >>>>> ibanking
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