I often hear that you can lose your job quite spontaneously/easily when working in these top IB’s. Is it true that there is little job security (compared to other careers like management consultancy or soft dev)?
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Don’t know where you’ve heard this. IB is considered a relatively risk averse career path compared to other parts of high finance. From what I’ve seen, promotions are a lot easier in IB than management consulting (you’ll get pushed out at management consulting). As long as you’re willing to put your head down, most people starting in IB now can reasonably expect to make it to ED (1 level below MD). Once you hit that point, there is less job security because you have to bring in business rather and can’t get by just executing well (although there are some “execution” MDs).
That’s somewhat reassuring. Any thoughts on the difficulty in getting those roles in high finance after training at an IB? I presume the pay matches the insecurity of the job.
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