This is overrated
Now that I think about it, investment banking is kind of overrated, don't you think? I mean let's analyze the fact that this job could be done by your average joe, it doesn't take a boy genius brain to do this. Most of the people on this forum want a challenge, so why not switch to PE or VC? Does everyone here want investment banking for the rest of their career? Sure the payout is decent, but no thanks. In no form am I hating on IB, it's just that I get skeptical, bear with me.
If you truly were familiar with the mentality of people on this forum, you would know that most people don't enter IB with the intention of staying there for their entire careers. Also, getting a job in PE or VC straight out of undergrad is very difficult and there are few such positions available. Finally, if IB were such a simple job as you say it is, wouldn't that make it underrated instead of overrated? Or did you rip that idea out of some Elite Daily headline?
It's true. A product manager at Facebook earns 200K with compensations after college. IB is definitely not the future
I want to say this is a poorly written troll post, but I guess I'll try to answer this.
Yeah he has the entitlement problem for sure. If an analyst makes 130k gross after their bonus that literally puts them ahead of over 90% of Americans at age 23 and probably ahead of 99% of those who are the same age. The "average joe" sure as hell doesn't work 70-100 hr weeks.
Your average Joe processes TPS reports, balks at responsibility, and that with some Monday night football satisfies his intellectual curiosity and capacity. Besides you need to crawl before you're entrusted with the game winning shot. Hopefully you're old enough to get the reference.
The pay in IBD is decent?? It's outrageous. 22-year old kids who make almost triple the average salary is what makes it worth it to a lot of people. The work is more often than not boring and uninteresting but yo do learn very valuable skills and you make tons of money. The actual work you do in IBD is massively overrated, the pay and the learning experience are definitely not.
Jeeze...you know that the average American earns less than $50,000 a year AND works 40 hours, right? So, even if you work 100 hours a week, you are still extremely lucky to be in the position that you are in.
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