Is IB that bad ?
Hey guys,
So, after a couple of years as a corporate FX sales and trading analyst, I finally got into a target uni in London (think LSE/Imperial/UCL) and hope to get into a BB IBD next summer. From the outside, being an IB analyst looks amazing: you get to learn a lot (technical skills, industry specific, personal growth), meet a lot of people and, well…the comps are incredible. However, all I ever read is how bad the industry is. I don’t really come from wealth so to me making 100k a year would be a dream come true. Is the culture/workload that awful ? I am extremely enthusiastic and don’t really second guess my choice when I read negative posts, but it seems like every analyst/associate is looking to get out of IB asap.
https://www.wallstreetoasis.com/forum/investment-banking/investment-ban…
I'd say this conversation on this site occurs weekly but in reality it's hourly. Here's a thread that is trending now discussing this question...
Would be interested in responding but I'm afraid, without the context of knowing precisely which target university you're attending, I don't have enough information to help.
There’s a lot of sacrifice involved with this job. You need to rlly think about what balance you want between work and everything else in your life.
Obviously these numbers are a wild guess
I would say it is “that bad” for about 40% of the people who start in - bad teams, mismanagement of expectations, lack of interest, inability) to create a cultural fit, lack of basic competence
I would say it is “pretty bad” for 30% of people - figured it out, not bad at the job but want something else lifestyle wise or career wise
it’s a “stepping stone” for 15% - have the skills but prefer the buyside
It broadly works for 15%
Given the reality of the industry and the up or out nature, these numbers work
Out of curiosity, couldn't you just lateral internally at your bank and move to the IB division (vs. having to go back to uni)?
Have a friend who was in a similar role as yours at CS and moved to a coverage team within IBD.
Congrats on UCL
I'm a FT analyst. I feel like it sucks away at who you are as a person. I've become more irritable, short tempered, stressed, etc. I have certainly been learning a lot but I wake up in the middle of the night anxious about work and days kind of blur by. But I'm doing it for the learning and what it'll grant me longer term. There are certainly better paths.
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