I predict this trend becomes the new norm as we head into the second half of the 2020's. By the 2030's IB will no longer be considered prestigious. I think it will start to degrade into what consulting is now.
| +193 | Evercore > Goldman and I don’t think it’s particularly close anymore | 66 | 2h |
| +158 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 17 | 1d |
| +100 | Think Twice before Recruiting for HOUSTON IB!! | 53 | 2m |
| +86 | UBS Offer Day | 32 | 8h |
| +72 | I hate Wells Fargo | 20 | 3m |
| +52 | No return offer - feeling like a failure is an understatement | 24 | 22m |
| +49 | How cooked am I as an incoming WF IB SA 2027? | 17 | 1d |
| +47 | WF Return offers | 28 | 3d |
| +40 | 2026 Investment Banking Return Offer Climate | 25 | 1d |
| +39 | Should I go back into a junior IBD role for comp? | 16 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
why?
It still pays 3x with salary and bonus so why?
Need to adjust for hours worked
When you apply for a mortgage or buy a nice car they don’t ask you for your hourly rate
base salary at big4 in TAS is about the same as in IB. so unless your bonus is 200%+, you're not making 3x of what big4 TAS people make. and from bonus threads here, you can see that plenty of people are getting small bonuses in IB nowadays, effectively getting paid close to what people in big4 make.
on top of that, in big4 people work half the hours people in IB work. plus you can work from home - factor in the expenses associated with going to office (time and cost of commute, need to have more suits shirts shoes etc., more stressful cause at home you can take a break and decompress but at the office you're constantly around coworkers and are expected to work without breaks). finally, in big4 you can move to a cheaper location, while in IB you have to be in NYC.
Congrats on KPMG!
I disagree.
That’s not how things work lol, but in your scenario, what would become “the new IB”.
someone struck out and is salty lmao
Congrats on UBS
My father is a partner at Deloitte and I find your post highly offensive
Nepo baby alert
This won’t be true until IB pay falls to 20-30% of base (BofA levels)
I view this as a compliment and a major victory. I would be honored to be associated with such venerated, prestigious, and hallowed names such as Ernst & Young and Deloitte.
When your company flies you out basic-economy-no-carry-on to Milwaukee on a Tuesday night for an audit and you tell the girls at the local watering hole you work at THE Deloitte… let me tell you, their ears perk right up.
I am glad I lived to see the day Investment Banking became as renowned as front office audit.
Agree w this take. No longer a great path out of undergrad, AI gonna cook ts
Lots of cope on this thread and WSO overall.
I worked in IBD at Barclays and JPM. Left the industry last year.
AI is cooking Wall Street. Doesn’t mean the job won’t exist in 10 years. But the expected value of the path is getting compressed like crazy.
All the best to everyone.
What? I work in IB now and am far from getting cooked. Idk what you’re even talking about. Sorry you couldn’t hack it.
Yea dude lol. Ppl who say ts honestly make me think they’re largely all LARPing abt ever having been in IB or worked at any publicly traded bank. The AI that is currently enterprise-approved at most banks is as effective as siri, and even premium claude & chat gpt models can’t understand bespoke, group-specific PowerPoint formats, not to mention entrenched financial models with dynamic min/max, indirect , iferror plugs or tying to logical tests/dynamic arrays. Going to be a while before we’re replaceable.
Assumenda ut eligendi expedita repellendus temporibus ea. Laboriosam provident autem dolorem et sit sit. Esse a tempore quasi. Numquam nisi qui optio amet.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...