Is IB/PE Worth It If No Long-term Interest?
Is going into IB and then maybe 2 years of PE worth it if you have no-long term interest in either career? I understand that you can learn a lot early on but is it worth having no-life working 80/hrs a week for your mid-20s when you're planning on exiting anyway? I don't want to be an Director in IB pitching to clients and don't have the EQ to do it anyway. Also, don't really have a desire to do PE long-term, so I know if I that even if I did PE, I'll be out in 2 years.
So what do you want to do?
Idk, I'm still in college. Probably something finance or strategy related though. I like the analytical modeling part of IB and I've heard it gives you a head start on your career with exit opportunities, so that's why I picked IB.
From my own experience and conversations with others in the industry, modeling / valuation is a minor part of the job. All the "models" I've worked on have been templates -- not much analytical thinking involved. Maybe this differs by bank, group, etc., but I'd caution you if modeling is a key draw to IB for you.
However, as others have said, it checks the box on a resume, has great exit opportunities, and gives you more time to figure out what you want to do long-term.
Dude I'm gonna keep it a 'hunnit' with you, as the great Shawn Carter once said, I don't really give a shit about this; I started out pursuing banking for money like everyone else who is actually honest. I mean let's be real, it's rare to have a 'pAsSiOn' for this type of stuff and I slowly ended up enjoying it because I found a sub-sector that I really liked. But that being said, yeah it IS worth it; you're getting paid a fuckton of money so stop being a bitch and just get your check; it's a privilege to work in this industry, all things being said.
cringe
Eat a dick guy. This is a privileged industry, your biggest struggle is probably having to have studied for some test at some northeastern college. Try going through poverty or having to work in a factory all day.
not really bud, grew up in the foster system
oh no! you grew up in a foster home with the largest government in the most advanced country in the world! you poor thing :(
Man the fact someone as stupid as you got a banking offer just proves this isn't a "privileged" industry.
thanks for the insight prospect!
enlighten us, "intern"
IB, especially at a BB, is a good data point on your resume. Anyone that interviews you for finance or strategy roles will know the banks and that IB is competitive. It's is a good training program and you're guaranteed to have had lots of modeling reps.
You can also exit from IB to top roles in strategy or corp dev, which sounds like what you're interested in.
Sure, why not?
You'll be just like everyone else that did the exact same thing. Mostly because they didn't know what they wanted to do with their lives and probably still don't. You'll probably end up at some M7 b-school and head into "Tech" afterwards because you want to "change the world" or something. Maybe you eventually become a "Product Manager" because you heard you could be a "mini-CEO" of a product.
Maybe you even manage to raise some VC after your Product stint to start your own D2C brand aimed at yuppies in big city jobs just like you, maybe it even does well and becomes a unicorn. Or maybe it gets swallowed up by Amazon. Who knows what the future holds?
Anyway, it's not like you're the first person to pursue the 2+2+2 resume stamp (and the early career savings boost that comes with it). Nor will you be the last, go wild.
Agree with this. Sure it will be a pain for 4 years, but you will also i) gain a ton of experience, ii) meet a lot of like-minded, driven individuals, iii) make solid money to position yourself for future financial success ($800k+ gross over 4 years), and iv) open plenty of doors for future career success.
$800k of saving?
Going to go against the grain a bit here and say it's probably a "no."
IB/PE is attractive at the junior level (mainly) because it's the only way into the the upper echelons, where you make a ton and don't work like a dog. Sure, you get paid $X00k more than your college classmates over your analyst and associate years, but (largely) sacrificing ages ~22-26 doesn't really make much sense if you're not sticking it out for a chance to (eventually) be a senior professional in the industry.
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