Is ib not a beta career/job like if you got into hyp why would you ever want to end up at gs/evr and work like a dog for no reason. you dont need the prestige and harvard is probably more prestigious than those 2 either way and if people from UF/UNC end up in the same spots as you what was the point of even going to a top school. Why not just go do tech or startup or anything else. What is the need for a "top" ibd exp.
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Investment banking (IB) is often debated as a career choice, especially for those coming from top-tier schools like HYP (Harvard, Yale, Princeton). Here's a breakdown of why some might still choose IB despite the arguments you raised:
Prestige and Validation:
While HYP is undoubtedly prestigious, many see IB as a continuation of that prestige. Working at firms like GS or EVR signals to others that you’ve not only attended a top school but also succeeded in one of the most competitive industries. For some, this validation is important.
Compensation and Financial Security:
IB offers high pay right out of undergrad, which can provide a financial cushion for the future. Even if the hours are grueling, the compensation is unmatched compared to many other entry-level roles.
Exit Opportunities:
Investment banking is often seen as a stepping stone. After a few years, analysts can pivot to private equity, hedge funds, venture capital, or even corporate roles with significantly better work-life balance and pay. This pipeline is well-established and highly attractive.
Structured Career Path:
IB provides a clear and formulaic career trajectory for the first 10 years: undergrad → 2 years IB → 2 years PE → business school → senior roles in finance or other industries. For those who value stability and predictability, this is appealing.
Network and Skill Development:
Working in IB surrounds you with highly intelligent, driven peers and exposes you to top-tier clients and deals. The skills you develop—financial modeling, strategic thinking, and client management—are transferable to many other industries, including startups and tech.
Ebb and Flow of Career Trends:
Career choices often follow trends. While tech and startups are currently popular, they come with their own risks, such as instability and lower initial pay. Many believe that finance will regain its allure as tech cools off.
Personal Preference:
Not everyone is drawn to tech or startups. Some genuinely enjoy the work in IB, the fast-paced environment, and the exposure to high-stakes deals. For these individuals, the "dog work" is worth it.
Comparison with Non-Target Schools:
While it’s true that students from schools like UF or UNC can end up in the same roles, the journey is often harder for them. Attending a top school like HYP can make the path to IB smoother and open doors to elite firms that might not recruit as heavily at non-target schools.
Ultimately, the decision to pursue IB depends on individual goals, values, and risk tolerance. For some, the prestige, pay, and opportunities outweigh the long hours and intense workload. For others, alternative paths like tech or startups may align better with their aspirations.
Sources: The Allure of Investment Banking, The Allure of Investment Banking, End of elitism
So recently I learned that the male g sport is not in the anus. So now I'm wondering: why did it feel so good to be rammed in the back by my MD then?
Congrats on RBC!
No value in going to HYP for banking if you can go to UF and have a much better life and not be burnt out before hitting the desk..
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