I get it, analysts put 2 years into IBD to get a Buy Side Offer...How about the folks that like IBD?
Am I crazy to assume that some people really have a passion for investment banking? Maybe...but I hope not. The only people I know that have gone into investment banking just did it for a later buy-side offer, but I'm wondering about the people that have a passion for it. What makes you like it? How do you manage the long hours for an extended period of time? What are your longer-term career goals?
You mean the psychopaths who want the “w” in “two” to be6.75 when the “T” is in Arial 8
I also would like to see the one person that actually do IB for the long term and like the Job. In my personal view I like the transaction side of it. I mean the work you do can have a large impact on the economy. But overall I dislike the hours and the culture that surround the job.
Thanks for the input
The work you do in ppt and excel doesn’t have the impact that the ideas pitches by the md does
I am a current IB summer analyst and really like my job and the industry. I have every intention of recruiting for buy-side roles in the future, but really only to bring a potential offer to my group to get a faster promotion/pay raise.
Otherwise I don't want to work on the buy-side; I think selling things is more interesting than investing in things, and moving up the ladder is very difficult in PE. I know guys who have been stuck as "PE associate" for 5+ years cause the guy above them won't budge. Doesn't happen in banking and lateral hiring is much easier too. I would not really consider leaving banking for anything short of a megafund, and only then with the intention of returning to IB as a VP after my associate stint.
Thanks! I appreciate your thoughts.
This is so cute
In my opinion, it's all about the firm you work for. Banking sucks at most places. But if you find the rare good firm or if you have enough relationships and sales drive that you can strike it out on your own (i.e., start your own firm), it can be quite enjoyable. Think about setting your own schedule, setting deadlines on your schedule (obviously with input from clients), meeting professionals from various industries and learning about different businesses. Think about setting your fee and the flexibility of engagement structures. With a good comp structure (obviously you are entitled to profits if you own the company), you could close 1-2 deals in a year and take the rest of the year off, because banking pays well.
Simply put: if you can charge for matching a buyer and a seller, and you have the network and knowledge of who's looking for what, you can make an easy career. I've heard countless stories of bankers - and obviously business brokers - simply taking a hefty fee for making the introduction on a closed deal. I've heard several private equity firms willing to pay outrageous intermediary/finder's fees just for making an introduction on a company they acquired. Again, banking sucks at the junior level, particularly because you bust your ass doing work that probably doesn't matter in the end. At the higher levels, it's good money and doesn't have to be a pain in the ass.
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