What hard skills do you even build in finance?
I was reading this discussion and OP made a good point:
Take a moment to examine your life. Chances are you are in your 20s. What have you done, I mean really done, in your life so far that warrants you deserving anything? You went to college? Big shit – going to college nowadays is a meaningless rite of passage that has been diluted to the point of rendering it nearly useless. You worked a year in investment banking? Well, let's give you a standing ovation for slapping together a pitch-book, pasting nonsense in PowerPoint, and putting together a cookie cutter DCF model, none of which truly added value to anyone, anywhere – yet you probably gave yourself a big round of applause.
And it made me think. Let's assume you're fired from IB/PE/HF and you can't get back in it. What hard skills do you even have to go out there in the world and build your own business and clientele? I mean doctors, lawyers, accountants, programmers, etc. have some hard skills that require some serious education and knowledge and they could easily go on their own. But what about us? Our skills are only relevant for staying in a 9-5 (or 9 am-1 am to come up with a real IB schedule) unless you do LMM MM M&A advisory. If you're PE/HF you can't go out there because your job is dependent on LP's capital.
I really believe that you're paid in IB only for your availability 24/7 because the value you add is close to none. If we erase the JPM/GS/MS from your LinkedIn profile and throw you out there in society to do something valuable you'll be starving.
You effectively learn how to sell a business, source buyers, present the business. It’s similar to real estate. Idk why IB bros clap for themselves we’re just used business salesman
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