Would you give up Goldman IB for $80k at a software company if you were offered? (science majors)
First of all, I am NOT in this situation (wish I was) but just wanted to know what the rest of you felt:
If you were offered to be a first year i-banking analyst at Goldman at the same time you were offered a tech role at a start up or Google or Facebook for BASE SALARY= $75-100k (it's definitely possible for a first-year grad in engineering), what path would you take?
FYI: Don't think Google/other software firms gives you an easy 40-hour work week - a lot of my friends get home by 6PM, but they're still working at home till 11PM regularly. They do get weekend overtime pay though and generally less demanding than IB.
from a math/comp sci major perspective i would still go with gs offer but would want a quant/structuring group/trading role
I think this is fundamentally a question of what you want:
1) if you want to do finance -- go to GS
2) if you want to do computer/tech stuff -- go to Google/Facebook/Microsoft
However, I have to say consider this. An associate/VP who gets laid off at an investment bank do not really have a skill-set that is valuable per se.
On the other hand, being a equivalently experienced software engineer at Google/Microsoft/Facebook will give you credibility and more importantly, a skill-set that is much more valued. You routinely see ex-Google/Microsoft engineers get together and do something entrepreneurial (and often times successful - the spin-off gets acquired by MSFT/GOOG for a substantial amount of money). When was the last time you saw a bunch of associates go out and start a company?
I think watching "The Social Network" really crystallized this point for me. The part where Zuckerberg (then 21-22) walks into a large VC firm (Case equity or something like that), talks directly to the MD's, and tells them "Fck you. For all those aspiring bankers (myself included), at the end of the day, you realize we'll all be servicing kids like these right?
I think a person who has the networking aptitude / ambition of a banker + the intelligence of a Google engineer = successful entrepreneur. All in all, personally, in retrospect, I think software engineers in the long run not only have a more fulfilling career, but they have more upside as well.
Well, which has growth potential? Which has greater possibilities of promotion? Look at these things, cause at one you may hit a glass ceiling. And I would go with which one you have more interest in.
while software engineering is a great job its not all fun and games -- lots of coding/data work and INCREDIBLE attention to detail -- a single comma misplaced fucks up your entire program
lots of respect to CS guys
Equity, suckers. Pre-IPO equity.
Google PM is harder to get than goldman IB. Facebook.. it's not even close.
This is apples to oranges anyways because if you are getting 80k at a startup as a 1st year? I wouldn't join that startup, they are misusing their cash.
Heard a lot of people say this, but rationally, it doesn't seem to make sense. The number of people with relevant degrees from top schools to spots ratio is much lower at a place like google than it is for goldman IBD.
learn some practical engineering skills, gather ideas, network with strong and entreprenuerial people, start you own business. After you have a super succesful company, then you can hire and fire IB teams at your will
What is the base pay rate at these tech companies?
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