Is IB satisfying?
Hi everyone! Well, im studying Mechanical Engineering (2nd year). I consider doing a MS in Finance or Aerospace Engineering when i graduate. On the one hand i would like to work with propulsion systems (turbojet/turbofan engines etc). On the other hand i really like the lifestyle (and the salary) of the people that work in IB and PE (not the first 2 years ofc).
What would you suggest me to do? Is Finance a meaningful, satisfying and fulfilling career in your opinion or i will curse the moment i made the shift?
P.S. I really want to hear some reasons not to do or to do a MS in Finance, not just straight answers. Ignore any mistakes... Thank you in advance!!!
If you wanna do banking for the lifestyle and salary... you're not gonna have a good time.
Hahaha the lifestyle, you mean bottles (of Red Bull) and (Excel) models? Seriously the IB lifestyle sucks as a junior or mid level banker and sucks in different ways as a senior banker. You’re in a service industry, it may be financial services as opposed to waiting tables, but at the end of the day you are equally at the client/customer’s beck and call. If you don’t love finance you will hate this job.
I was thinking about something less stressful but more challenging like Risk Management or an other interesting BO/MO role that has good prospects, because M&A is too crowded and very hard to get in nowadays. The buy side will need more tech guys in the future too...
I’m not sure any of those positions are more challenging at the junior level. They have fewer exit ops and they pay less. M&A is competitive to get into, but it isn’t overcrowded at reputable firms. The buy side isn’t in need of “tech guys”, it needs quants and they generally have at least an MFE.
Do you like sleeping with your phone on? Do you like no social life? Do you like having to cancel plans at the drop of a hat? Do you like moody managers/clients? How much do you like being the butt of all blame? Do you like the thought of making $15/hr on average?
If you answered yes to all of the above, then you'll love IB. Otherwise do something fun like build rocket engines. F all this shufflin paper bs.
I'm a student engineer too and I see no reason why you would pick finance. Pick aerospace engineering, study some finance on the side (which shouldn't be a challenge for you) and do an internship in finance.
Although I don’t know much about Aerospace Engineering, if that is what you enjoy I would stick to it. I am still a student but from what I have learned on this website, it is not a great idea to get into IB unless you really love finance. Even then, for most people IB is just a way to exit into a different area of finance(PE/AM). If I loved engineering, I doubt I would work my way into finance just for the money and lifestyle.
You can make a damn fine living in mechanical engineering/aerospace engineering. It is not like you're comparing art history (no offense) to finance.
Do what you enjoy and what gives you holistic fulfillment. The lifestyle is largely a misconception (as stated above).
Whether or not finance is meaningful, fulfilling, and satisfying is largely subjective.
I don't feel like you can make a bad decision here as long as you are genuinely interested in both (and not being drawn to the allure of high finance due to movies like the Wolf of Wall Street.)
Echoing what others said before, if you enjoy what you're learning in Aerospace engineering you would be a fool to pursue finance in search of a better lifestyle/salary ... you will be miserable. Also, if you're talented and hard working, you should be able to make more and have a better lifestyle than people in finance - aerospace engineering seems to be a very in demand field right now.
Now, as far is the MS in Finance, if you do for some odd reason decide to pursue IB/other FO financial career, the MS in Finance would not be the best way to do it. MS in Finance only really works for people who got interested in finance too late (dont land a Junior year SA position) but still manage to get something the year after (gets a post senior year SA position) but needs to be in school another year to qualify for it. As a Sophomore, you would have much better chances pursuing IB/Finance from UG (ie network, learn your technicals, and prepare NOW so you can recruit for SA next year). MS in Finance is usually a last resort, not a planned out path. Sorry for rambling hope that makes sense!
My friend in MO @ a BB is kicking himself for not sticking with his passion, I think it was astrophysics and he wanted to get into academia, he done a masters in astrophysics then came to the BB in MO. I always catch him writing physics formulas at his desk.
In my opinion, any kind of engineering is 100x more fufiling than finance. Everyone in finance looks like they have had the life sucked out of them. Finance definitely isn't as intellectually challenging as Aerospace engineering, the compensation in finance is for the stupid hours people are willing to put in rather than the capability of the monkeys to do the work. And the hours do not get better as you move up the ranks. Stick to your passion.
90% of WSO will disagree but collecting data, adding and subtracting numbers, making spreadsheets look pretty, CAN and WILL, one day in the near future, be replaced by either cheap labour or AI.
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