Advice for Incoming Undergrad

Alright, this is my first post on WSO, so pardon any mistakes I may make.

So a little about me- I'm a URM first gen high school senior from Minnesota. I go to a rather shitty high school and will in all likelihood be attending Yale University next year (Accepted SCEA). I just had some questions about finance careers generally.. Are they careers that I should seriously consider? How is work-life balance? What type of person would thrive in finance? What is the pathway to "success" in this field? What other careers would you have chosen if finance wasn't an option?

I guess what I am looking for is an introduction to finance careers and the best way to go about starting one if that is the route I end up choosing. I come from a community where most people end up working dead end fast food jobs for their whole lives, so any career advice you could share with me would be greatly appreciated.

Thank you in advance,

-BankBoii

 
Best Response

To build on champagnepaki's comment, saying finance is like saying "healthcare." Roles vary from home nurse (retail banking) to ER doctor (ibanking) to biomedical researcher (Product development at an AM firm or hedge fund) It is challenging and difficult, but there are roles for those who want to be amazing for 50 hours a week, and for those who want to slog 90 hour weeks.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 

Ducimus laborum et velit non qui. Ipsam ex illum quia consequuntur libero sit. Ea in est et sequi ut aut.

Tenetur odio quisquam nulla cumque iusto voluptate est. Nam qui illum qui consectetur dolore aliquid magnam vel.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
GameTheory's picture
GameTheory
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
bolo up's picture
bolo up
98.8
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”