Hi, I was planning to shift out of Corporate Banking (currently an Associate) and move into Investment Banking but I've been reading about these job cuts in all the IBD divisions of top banks and wondering if it is the right career anymore. I'd be grateful for any valuable insights.
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I'm not an expert. Curious what some of the guys who have been in banking for a while have to say. My thoughts are that it is definitely past its peak.
Questioning "if it is the right career anymore" is more of a personal discussion. Jobs may be getting cut, but I don't see the industry going anywhere anytime soon. Is it as hot as it used to be? No. Though, if it is really what you want to do, whether it's hot or not is irrelevant.
The career path is not dying however there is a shift to working at smaller shops that specifically focus on M&A. The BB's are cutting jobs all over the board because they are incurring heavy losses/decreases in their trading profits. M&A is not going anywhere for the time being. I do not see interest rates rising enough in the next couple of years to kill the industry.
Where Investment Banking is Headed (Originally Posted: 11/16/2014)
As a senior in high school sending off applications to some top undergrad b-school programs (Wharton, Stern, etc) I'm interested in figuring out the growth prospects for investment banking/finding out if its really 'for me'.
In the next 10, 20 years, what groups are going to be taking off? What groups are not? Do you think the industry as a whole is going to suffer, under the siphoning of talent to tech / increasing govt regulations? Will pay suffer?
Most importantly, if you had to decide to get into the industry again, would you do it? Or would you go for tech/something else?
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