IS IB even the move anymore?
I will be as honest as I can and will love hate or advice regardless what it is.
I transferred to a target school a year ago as a junior, if you look at my post history it will explain everything. And after being there for a year I've slowly re-evaluated everything.
IB was the most promising career that would be lucrative with time whether it be going to PE or whatever else. Although after coming to a point, doing a random accounting internship this summer, just so I can have the opportunity to recruit for next summer, (which if I put the effort in I will land something, and just started the process of applying, cause now I am competitive) it just doesn't seem worth it. I've realized that having a 6 figure salary out of school is awesome and being able to move up or switch industries is awesome, but it doesn't seem to matter, and any other industry such as WM, and S&T also make me feel the same way. I would be totally content with working in high finance (IB, S&T, WM....) albeit the stressful hours I wouldn't mind because I know it won't last forever. I was a competitive transfer to my school because I started a financial services (my own prop shop with a partner) company that had a mission, but failed after I got into the target school (this summer actually, blew through our capital from trading irresponsibly).
I started my first business when I was 16 and my second when I was 20 ( the one that helped me get in to the target school), and now working on a new project that is more than just trying to profit but that helps people and myself.
I just feel I need to do IB or something similar before I try to go and be an Entrepenuer ( for the lack of a better word, tbh I hate saying entrepreneur) in order to gain some sort of experience that will have value later down the road. I feel it is possible to do something without any prior experience. Although, without it I feel I will lack something that would be very beneficial or useful down the road.
If you have the time to read this regardless whether you're a student, transfer student, currently working in ib, someone just lurking or anything, I just want perspective. In no means I will take any advice literal but will use it to grow my perspective. Would Love to hear from anyone.
What would you do? lol
Thank you all,
short_ur_mom
Ya dude its still the move. You gain valuable skills as a professional and the work ethic that will help you push future ventures. I am going into it for the same reason. FYI, Bezos worked on wall street and it gave him the idea for amazon.
I don’t think he did ib tho, wasn’t he a quant at de Shaw ?
lol how are you so ignorant about bezos yet simultaneously confident that his path supports your perspective?
uhh because de shaw is on wall street
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While many people on the site might not agree with you because they made themselves believe IB is gods gift to earth and that they are going to make 100s of millions from it, you are absolutely right. I respect you a lot for saying that.
2 years? So Singaporean?
Could be Korea as well.
The only way to actually be truly wealthy in America is by making your own business period. Most people in finance I’ve talked to always have expressed wanting starting something but just have no idea on what to do and are very risk averse. I think that for you consulting might be a better fit than banking though. I think consulting will give you a deeper understanding of the issues a business faces, connections to future partnerships, and the time to potentially start something. Good luck!
feel like I would be infinitely better at running my own business after having worked in IB
yeah u should open a business for sure finbrah
Don't know about ib but I used to work in trading before quitting and trying to start my own thing. I met a lot of unsavory people in my teams and I still kind of hate their guts but in the end it was a valuable experience cause it instilled good work discipline. Also you get into the habit of being careful to details and in general just producing high quality work quickly and efficiently. I now get mildly irritated when the people I work with get sloppy.
That being said finance is lame. If you've started two businesses already you've probably accomplished more than most of these people on here who only know how to jump through hoops. I'm only lurking around these days since I was asking a question regarding SPACs. A university classmate of mine ended up opening his own boutique ib in China after rage quitting or something and almost deals exclusively with these, I was wo seeing how they worked. One thing I've learnt from the people I consider successful around me is you can't follow the well traveled road if you really want to accomplish anything extraordinary
the only thing that changed is your perception. But that's not a bad thing.
ER is where it’s at.
No TikTok is the move now
Don't know, don't care plus I'm making six figures at 23
My $0.02:
I always knew I wanted to work in Commercial RE because I saw some of my family members working in it and it seemed cool to me in high school. Fast forward to university when it was time to do my internships I was blessed with the opportunity to do them at a Canadian bank in the Real Estate Group. I spent a full year as an intern in the RE group and learned a fair amount even though I did a lot (ALOT) of crap work, lol.
I got the return offer to the bank to work in the same RE group and I slaved away for a year and a half and got promoted to Associate. I was getting pretty drained so I started floating my resume at major CRE players in the Canadian market (Reits, PE firms, family office, asset managers etc.).
Through some connections I had made while working in IB I was able to secure a dream job offer and make the move! My point with all this is, yes, IB is always the move in the short term and you can use it as a launch pad to fucking anything you want (within reason)! The shit you learn is invaluable dude.
By the way, the RE group is known to be the most chill group in IB. When I say I was getting drained, I mean the work itself wasn’t inspiring me anymore. I enjoy being on the principal side right now way more than simply advising on transactions.
The way I tackle this doesn't necessary tie with IB gaining insights of a business idea. Creating a business idea takes years of failure and consistency which may not even turn successful at the end. People who have started a successful business are one out of millions who make it. Focus more on any job that you can get a solid salary and tie those morals into investing to create cashflow. If your goal is to become rich, allocating assets to create cash flow and that ultimately starts off from investing in assets at the start of your career.
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