So, is IB dead?
Considering the current economic status, is it safe to say IB is not a good career to get into for now? Would it be better to go for something like corp. dev. or even tech? Any input is appreciated!
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Yes Investment Banking is completely over, didnt you hear that every single IBer is being laid off right now, tens of thousands are being laid off as I write this, looks like we are all doomed and there will be no more capital raising for the next 5 years due to the chinese flu...
I'm assuming this is a troll but you do realize this isn't 2008? This has nothing to banks themselves. Unless you believe this situation with the virus will continue for another 2 years (which you wouldn't necessarily be alone in believing), then your question is nonsense.
Do you know that the finance industry is cyclical? I really don't know how you can assume that IB is dead without understanding that low IB activity has not been caused by the banks but solely caused by a virus that is fucking every industry in the ass with no deadline for a cure.
I always find it amazing when people ask "Should I do tech or finance ?!?" There are very few people that can truly do both. Trying going on CF or LC and try some problems. You'll realize very quickly that breaking into tech is a lot harder than just binge learning a language over the weekend. It goes the other way too. Most people in tech do not have the social aptitude to survive in finance (unless they break in as a quant). Spending all nighters in isolation in the library doing coding projects and grinding out problem sets does not lend itself well to developing social skills. And this doesn't even include things such as the culture differences between the two different industries (politics, religion, etc.) tldr It's very rarely tech or finance. You are cut out for one or the other, not both.
You can do business at a tech firm, just saying. He might not be talking about coding.
Maybe in this case but usually on this site coding is compared to IB/S&T since both roles pay ~ 6 figures out of college.(all-in)
What a stupid question
People on this site get triggered easily. Forgive me for criticizing the almighty Investment Banking.
yes, IB is 100% dead. Please do not pursue a career in it. If you want to make money, go into anything else but IB. There is no money in IB. There aren’t even any benefits to being in IB so you shouldn’t even apply to any of the job openings. Please take my advice as being 100% genuine.
Even though this entire thread is frustratingly funny, and the above is a troll, I think this actually has SOME merit. IB is not the career it used to be, and while still financially rewarding, not quite as much. Shrinking industry with poor work-life dynamics. However, I think it’s still a great career for entrepreneurial people to get into
Sorry to provoke guys above. But yes, IB is a dying career with or without this virus.
It is not cyclical. In fact, it is quite secular, seeing downward secular trends in both headcounts and fees.
The work has little value add and the services just don't justify the amount of fees paid. For M&A, it is paid for the rubber stamp of a bulge bracket, I am pretty sure the quality of work for someone who is 2 years out of college cannot be substantially better (if any) than some managers in big 4 TAS or inhouse M&A team which were mostly former bankers anyway. And I doubt your MD has more contact than a veteran CEO/CFO in the industry.
For capital raising, it is another story. You need the bank's network to reach out to investors.
To op: You may just be trolling but anyway, IB is a declining career and will continue to shrink until it reaches optimal scale but you won't be able to get an objective answer from a bunch of banker wannabe or junior data miners who believe they are doing "god's work".
https://www.crisil.com/content/dam/crisil/our-businesses/coalition/pdf/…
Genuine question, if you were in my shoes how would you go about it ? I just want to make sure that I don't end up being average in life with regrets
Do you have any career interest? What is your end goal? Or do you just want a career with fast money?
You have to compare different options. Banking gives you very good short term reward but long term it may not be better than other careers.
Consider the mainstream options that can give you a decent lifestyle (banking/corporate and fp&a/accounting/tech/consulting/law/medicine). Do you have any particular interest?
If you don't have any specific interest, ask yourself what is your discount rate. Do you value near term cashflow much greater than future cashflows? Banking is much more volatile. You may move to HF/PE or become an MD. Or you may also get fired/get sick of this job.
If you leave the high finance industry, it is not easy to get an option with comparable cashflow. If you are lucky, you move to a successful startup and become a billionaire. But if you are just an average performer from an MM, you will have a hard time finding another career. Yes, you can move to corp dev. But if you quit because you hate IB, then you won't enjoy it either. Corp dev is just doing same thing with bankers doing the bitch work for you and you work shorter hours with significantly less pay. It is hard to move out IB and do something totally different (but not impossible). Its just you will bump into more hurdles compared to someone started from a corporate role/mbb
Lol feel free to throw monkey shit to me you insecure banker wannabes
I worked at BB and now at MF
You guys? Throwing MS And not even dare to fight back. Lol just lol...
So Doc, what's your prescription if a college kid is deciding bw M&A and capital markets for a career? It's strange, you usually here that IB/M&A will give a person more "exit opps," but now with the economic slowdown, it seems like there'll be more job stability in capital markets, especially DCM.
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