I'm a college senior from a non-target (some BBs recruit for back office here). I've been reaching out and networking since September. While some conversations have been great, I've had a few calls that threw me off, and I'd love to hear your thoughts on these.
Several bankers I've talked to have pressed me on exactly why I want to do investment banking - beyond the usual "why banking?" questions where I lay out my story and reasons - even so far as to go and try and dissuade me from doing it. At the same time, in their own individual stories, many admit they had no idea what they wanted to do out of college and kind of "stumbled" into banking. I have trouble with the balance between the following demands from bankers:
1) I need to know exactly what group I want to be a part of, why I do, and everything about it, and
2) I'm expected to understand that as a 21-year-old college grad, I know very little about banking and need to keep my mind open.
For example, I chatted with a banker from a small boutique today, and he asked me what I wanted to do down the road. My background is in economics (honors track) and music (much more skewed towards this, run my own orchestra.) I talked about how his particular bank focuses on music M&A and I'd love to be on the advisory side of things and to really understand the music business. What I didn't say is that I'm also really drawn in by the networking opportunities, since this firm also works with top music execs. He told me I'm better off doing music management instead of finance, and kept telling me it doesn't sound like my heart is in banking; "people that work here want to be BANKERS." I wasn't sure what to say to that. I know people are drawn to the career by the financial rewards, the chance to really advise companies (this attracts me,) to really understand business structure (this is one of my reasons as well,) etc. I want that. What would have been a good way to lead that conversation?
Am I under-prepared, or are bankers generally like this?
Didn't read your entire post, but here's my story. Been keeping up with a banker who switched from being a tax attorney then went into M&A at a top BB, and was at the top of her game (career wise) in the late 80s. Now works in a executive role in corporate development.
Went out to lunch with her once and expected me to have uncanny sector knowledge and know exactly which sector I want to work in and why. Also expected me to have complete knowledge of technicals. Told me ibankers think they're the smartest people in the world, but says that in a very arrogant way. Later when I talked to her on the phone, told me I'm competing with people fixing bridges and changing the world blahblahblah.
I think she's a little out of touch. Tbh 80s and early 90s were so good to so many that they don't realize how difficult it is for people in our age. She didnt even know there was SA/Analyst recruiting - to summarize it was different back in the day and way different now
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