What are people actually like in IB?
I was going through my connections on LinkedIn and found a bunch of people with ‘Incoming _____ Summer Analyst’ in their profile, and it made me think about the people in IB. I get it’s a high stress, low WLB industry, but are people actually somewhat normal, or is it just the obsessed worker drone type?
I haven’t started uni yet, but even in my year there are many people obsessed with IB for the money who have zero social skills and basically revolve their personality around being an aspiring GS banker. It’s impossible to have a conversation without them bringing up something about ‘target’ universities and what work experience they are organising.
That talk has a time and place but most of the time it’s incredibly dull imo.
I probably sound like a hypocrite considering I’ve posted a few times on here and am probably going to attend a uni notorious for being a career obsessed hive mind, but it is what it is. I’m kind of fed up of these people already, so I’m thinking if I have to spend more years working with them, I might neck myself.
TLDR: Would you want to be friends with those in IB? If not, why?
Most ppl are normal but generally are a bunch of hardos. No one acts like one after graduation tho.
I think people are going to be different in each niche within banking.
In VC people are incredibly opinionated, independent, experienced, networkers/social, "individualistic", typical VC dress code, "worldly" / more international, lots of travel.
When they work on woke subjects they will also believe they are here "to create a better world".
The hours mean that the people gunning for it are a bit more Type A, and those same hours and the associated stress also makes people a bit more short-tempered than they are outside of work. Getting tired does really start to dull you out, so all the juniors in my group feel more 2D because so much of our lives revolves around work. People are definitely sharper and more put together, and there aren't really any slackers (though there are people who will dodge work and develop a very bad reputation for it), so when you're on a good project with a good team it feels awesome.
In summary, I think it feels pretty normal, with the pro that people are smarter and the con that there are more hard elbows. Seniors still have families, juniors still talk about TV shows and sports, and so on. Also, the money feels way less special between taxes, rent, and the dozens of nights you work into the AM. Don't do the per-hour math.
Totally agree with the comment above.
In my experience, I was one of the people you described but thats only because i knew from the age of 14 i wanted to do IB (read about it online as I grew up v poor and wanted to earn £ as fast as possible) - and i knew what i had to get there, and the challenges i would need to overcome and sacrifices i would need to make. I put it on as a facade though, almost like a "fake it til you make it kind of vibe" as once i joined my IB grad scheme, everyone was saying that i was the most popular person in the cohort as I was the only one who could chat shit for days, as well as talk shop.
Now that i have been in the role for a few years, and have ran many interview processes and taken many phone calls from people like younger me, i make a point of identifying those who are normal and being sure to remind people that this is a way to put food on the table and a roof over your head at the end of the day, its no different to the janitor cleaning the very office you're doing your XLS and PPT in at 4 am - only thing is money is different - you dont see janitors acting all high and mighty, a job is job.
Yes your job is your life as an analyst, but the aim of the game is to have a life outside the office and when you do have spare time, the last thing you want to do is brag about what you do etc those that do are people i (and other IB people) dont tend to associate with or enjoy hanging around with. That said, most of my friends are IB people and i can't remember the last time I spoke about work with any of them (aside from the usual ranting about a stupid VP etc) and so we are similar.
From my experience IB people generally are type A, neurotic, deeply insecure people who are hyper competitive. I think a vast majority have some bizarre screw loose with a chip on their shoulder. If napoleonic syndrome could be a career it would be IB. It seems like many people are trying to over compensate for something that is missing in their core being. Some are cool, but it’s very rare. Many have sharp elbows and some are malicious, but many more I think are just so competitive anyone else doing well they view as a threat on their existence.
This is a brutal take, but overwhelmingly accurate over the course of my career. The issue is in order to study hard enough and accept the role, you must be a certain type of person. Further, the people who don’t fit in or jive with the culture leave the industry. Or, if you stay long enough, you year after year make the decision you would rather trade social life or the opportunity to pursue a passion for money. This makes the industry have weird culture and values that perpetuate over time.
100% agree with this perspective
100% agree with this and am happy admitting it kinda describes myself. I also think it's somewhat human nature though, like I am the most motivated when other people piss me off or are rude to me etc as it makes me want to beat them more.
Completely agree with this. None of my peers (including me) do it for the money. It is a factor, yes, but the main push factor is insecurity/wishing to prove something/hoping being in IB will change how others view you
Would say this is probably why i chose to enter the industry. It's weird but I feel like I've healed from my self-consciousness and lost the drive to do the job. Would also just say that its not always the case and group dependent. Most people in my group are really nice. A couple chip on shoulder types. Some who clearly came from money and thats all they know so they go to IB to maintain continuity of wealth.
Never forget everyone here and in this industry are nerds including me and you. No reason to ever be intimidated or nervous. Keeping that perspective will help you stay sane I promise.
Generally, people try to act in accordance with how they think other people expect them to act, especially at the junior levels. Unfortunately for many, this becomes their personality and as they move up they solidify into the caricature they used to mock.
If you get people to actually open up you find that they are just normal people with normal problems. Occasionally you’ll run into someone who’s completely unique, but that’s the exception.
currently going through recruitment season. I'm gonna be real with you, I literally had a crisis of faith because I didn't think I was psychopathic/hardass enough to do this type of work. I would not hang out with any of the people I've met thru the recruiting process on a regular basis and that scares me because my circles are usually pretty diverse in thought and personality types. I'm hoping that everyone mellows out once they get their offers/head gets deflated but man. It's insane. They're insane. I think making the process earlier and earlier just makes people into bigger robots. The caveat is that I like all the senior people I've met so far, so maybe people just need to understand they are not The Chosen Ones for deciding to do IB.
Actually resonate with you. I've met some senior people, especially those content with what they have, who are very authentic and humble. I think it's fundamentally the result of them understanding over the years that there is nothing special about this job – you've gotta please your clients trying to keep them close, you're still human needing to deal with the financial burden of sending your kids to private schools, etc.
On the other hand, with the process getting earlier and earlier that just means that college kids who are more insecure / who didn't have enough time to contemplate what they wanted in life are swarming into ib. Hence the prestige war and sharp elbow culture in recruiting.
Don't base your view on this site - the hardos in here generally get laughed at or don't actually get offers.
People in the industry are generally normal, it's a normal job that has ups and downs. There are very high expectations because of the comp and people are stressed all the time because it is competitive to bring in deals. Some senior people are sadists and can be assholes because "that's how it used to be." Just ignore them.
Do your time, save some money, and get the fuck out as soon as possible.
For the most part, people are chill and very normal.
During my analyst days, fresh out of college, you saw a lot of the types of behavior you would think you see in IB (type A, can't talk without mentioning target schools, etc). After a bit, they all calm down. One of the analysts that works under me came in like that and calmed down when he was working with an Analyst from a non-target, realized girls DGAF if you work BB, EB, MM since they money is relatively similar, etc.
May have a bit of a different experience than others on this site, but I got really lucky to work with a really great set of MDs, a number of whom I consider to be some of my most valuable mentors. One MD always took time to field questions about deal strategy, quizzed junior bankers to make sure that we understood what was going on in negotiations, scheduled happy hour calls on Fridays to debrief the week's events, etc. He always shared his horror stories about being an analyst/associate and dealing with all the BS from senior bankers / the craziness of working in the industry pre-GFC. He was really upfront about making sure that our experience was different, which I definitely think is an atypical MD mindset. In all other regards, he was like any other MD: he made the analysts open the phone bridges for him, never once opened Excel, encouraged us to take all-nighters to finish deliverables, and his Teams commentary was incredibly colorful. The difference though was that he was fair with us and didn't believe in just crushing juniors for the sake of crushing juniors. It seems like a lot of older bankers have a chip on their shoulder and believe that overly-sweaty work conditions are a rite of passage for junior bankers in order for them to "cut their teeth, " just as the seniors themselves had to do 20+ years ago. It's really a shame because the majority of the juniors decide to work in the industry are smart and intellectually curious, but since senior bankers see them as cheap, easily-replaceable labor (and treat them as such), they often end up burnt out and disillusioned after just a 2 year analyst stint.
Anyway, in the rare event that you get staffed under one of the few seniors who doesn't subscribe to the nose-to-the-grindstone banking culture, they can definitely be a great resource for you and someone that you can learn a lot from. These types of MDs offer a small glimmer of hope for the industry.
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