Two questions I desperately need answer too
Hi
Am new to the forum, I been reading through your website for the last couple of days, and I really like the site. I therefore want to post this topic, as I really hope to find some help and guidance from the forum.
I am currently finishing my bachelor this summer, doing a BBA program in Oslo, Norway. I found out last summer (09) that I wanted to go into the industry. Thereby I choose to specialize in finance on my last semester, thereby acquiring master courses, in topics of company valuation, equity and fixed income Security Analysis, portfolio management, and derivatives. I am also continuing to doing a master in London, at Cass Business School. The last semester has been an interesting semester that has really drawn me towards two areas I would consider pursuing as a career. On the one side I find M&A very interesting, although as I have understood, it is overwhelming work hours, and the pay is dissent. Still the potential for future career are very broad as I have understood, such as (private equity). On the other side I find trading very interesting, working hours are good, and the pay is very good, but its limited to the work one can do in the future (Hedge Funds). So I am very stuck between these two career paths, and not very sure what I would like to pursue.
Further and the main reason why I am posting this is that I have come to understand, that as this industry is highly competitive, myself at the age of 23, don’t feel I am very prepared, expect for my academical work, which as I see it everyone has. I have very little work experiences, which is not relevant at all, and so I feel my CV is not able to compete strongly. I have tried to acquire a summer internship, but unfortunately with no luck. Thereby I am worried that I have chosen to pursue a career that might not ever happen for me, as time is passing by too fast, in the sense that I might not be in the work place before am 25 years old, starting with a summer internship already then.
Looks like am rambling just on. To summarize my two questions are, how do I choose between the two career paths, and on what factors. And how do I make myself prepared for the industry when I am so behind everyone else.
UnderDog87
I my self have been lost between the two for a while now. Your arguments are even the same arguments I am torn by. I too would like some clarity, even my internship thus far hasn't provided me with it.
With no relevant work experience, your interviewers will always ask you "Why investment banking?" or "Why trading?" So why are you interested in these careers? Would you be able to answer that question so that your interviewer knows you're not full of shit? Also, do you know what analysts do on a daily basis?
Two very simple questions, but so many people either don't know the answer to them or can't give answers that didn't come straight from a Vault guide. Once you get a better understanding of the why's and what's (instead of wanting to do it because it's a hot career or has great pay or has these great exit ops that everyone talks about), I think you'll have a better idea of which direction you want to take.
I was "interested in" investment banking since my sophomore year in college, but I didn't truly understand what it was all about (hours, role of an investment bank, role of an analyst, exit ops, etc.) until just before I started interviewing for full-time positions my senior year.
NETWORKING NETWORKING NETWORKING also try and figure it out during your masters so your applications are not all over the place, also try and do your final project with a company to get your foot in the door. Work hard and get good grades.
Networking is a great idea if you are that this stage. Not only will you get a sense of what the job is like, but you will also get a sense of what kind of people are drawn to trading vs. banking.
Typically, trading attracts folks who are more quantitative (especially in 21st century where you have to be increasingly comfortable making decisions on mathematical models).
Are you drawn to more quantitative work, and would you be happy being exposed to and deferring to quants? Think about these things.
[quote=JackBauer]With no relevant work experience, your interviewers will always ask you "Why investment banking?" or "Why trading?" So why are you interested in these careers? Would you be able to answer that question so that your interviewer knows you're not full of shit? Also, do you know what analysts do on a daily basis? [quote]
I may not have the answer a interviewer would appreciate hearing, but when i ask myself these questions, my answer is that when I start thinking of all other possible jobs out there that I could be doing, there is nothing that I can say, "yes that’s what I would like to do". The only thing where I see my mind getting fired up for, is M&A and trading. Of course the life style the money and exit opportunities are making it all just that much better. But seriously I could not see myself, doing law, being a doctor or marketing, or even labor class jobs.
[quote=R. Scott Morris]Typically, trading attracts folks who are more quantitative (especially in 21st century where you have to be increasingly comfortable making decisions on mathematical models). Are you drawn to more quantitative work, and would you be happy being exposed to and deferring to quants? Think about these things. [quote]
I actually do prefer working with quantitative tasks, I always feel more comfortable working with numbers and models, making decisions based what they tell me.
Oh well as they say I guess one just has to work hard, and hope for the best.
UnderDog87
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