Paranoid Incoming IB Analyst
Hi everyone,
So 2 years ago I decided to pursue a career in investment banking. Coming from a very untraditional background, 100 networking calls and applications later I finally secured a FT offer at an EB. It was a grind.
Now during what was supposed to be my glorious final year at uni, I am waking up every night in fear that the market is going to crash and my offer is going to get rescinded. Pilling up my position of overpriced OTM puts... Super jealous of all the analysts who are on their desks getting amazing deal experience in this crazy QE environment, while I am wasting time finishing up my studies.
What happens if the market is gonna crash before the summer? What happened in '08, did IB offers get rescinded? Any survivors from the '08 class willing to share their experiences? Should I do everything in my power to focus as much on RX as possible from day one to prep for the unavoidable?
Any advice is appreciated.
bump
Just enjoy your last year. There’s nothing you can do about the market so there is no reason to worry about something you can control. The “amazing deal experience” involves getting told at 3am that there’s a period missing on page 47 in the footnote. The grass will always be greener and unless you tank your senior year, the bank isn’t going to pull your offer because so many people are still leaving,
Define tank...
a heavy armored fighting vehicle carrying guns and moving on a continuous articulated metal track
Fail multiple classes. (Also please don’t cheat, get in trouble with the law, or anything else that would get your offer pulled normally)
What do you mean by “tank” your senior year?
Deleted
It will be fine.
I worked in the Great Recession. Bonuses were much smaller and Lehman died, but you prob won’t lose your offer.
You’re cheap tbh when it comes to the firms expenses so stop worrying
Be happy you didn’t spend summer of sophomore year working back office at Lehman, network into an IB Sa at Lehman junior year, and then secure the offer to start full time fall of 2007. In all seriousness have fun dude you’ll be fine.
I guess you maybe saw my post on how to deal with Job security and looming recessions. You’re already ahead of the curve with this kind of thinking
Lol if you’re worried now just wait until you have a mortgage, kids school, cars, etc. and you’re expensive af for the bank. You’re not going to last a week if you have anxiety now.
Analysts are cheap you’ll be fine.
probably watched margin call to many times
might be the dumbest shit I've read in years
Hah I actually thought the same thing as a super non-target kid when I got my offer years ago. Even if the economy slows down you'll be fine. Banks don't rescind offers ever (at least since '08). and even if there is a crash, you'll be a fresh face in a new class they need to refresh every year. You're the last person who will get cut realistically
Agree, much easier for banks to cut the low performers that they know are low performers rather than cut offers for new faces.
Nobody here can say when the market is going to crash and if they say otherwise, demand they post their entire portfolio as evidence. Nothing else matters.
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