Biggest WSO Fallacies?
I keep reading how there is a ton of misinformation written by college kids on this forums creating echo chambers, and am really just curious as to what actually experienced people think are the most incorrect myths being put out on this forums, in regards to industries, schools, group placement, or anything else?
The average person does not give a single FUCK about investment banking.
the average person doesn't even know what investment banking actually is
Maybe
Not a fallacy per se, but WSO tends to treat anything that’s not HYP for schools or MS/GS for banking as somehow far inferior. In reality, the gap between say Vandy and Harvard or Barclays and GS is really not that significant. I’ve talked to people at middle of nowhere state schools who could run laps around Wharton kids. Same thing with “lower BB’s” and top tier firms.
Don't trust Anonymous posters
Isaiah strikes again lmaooo
Hey kenan
Agreed
Bump
Forget the anonymous button champ?
What, did you figure out my identity by my highly revealing username or something??? You really got me
Bankers are crazy rich. In reality bankers are squarely upper middle class. They’re working professionals like lawyers or doctors, not some elite god tier. The top 1% of MDs at the top strategic advisory firms MAY crack 8 figure net worth before calling it a career after a few decades, depending on lifestyle factors. Statistically speaking, most bankers will never earn more than 400k a year, and of the subset that do, most will wash out or get pushed out in 5 years.
This depends on city imo. In NYC yes, bankers are probably upper middle class. But in a tier 2 regional market like CLT, ATL, etc. bankers salary goes a lot further and most banks pay street or close to street in these regional offices.
Depends on the city. Yeah, in NY SF or LA they're small fish but MDs in places like Florida, Chalotte, Atlanta, and Texas have a lot more influence than you could imagine
Look directly above your comment.
This is just wrong. Any MD at a BB or EB is pulling in at least $1mm per year, or else they wouldn’t have made MD or they’d be pushed out. At that level it’s trivially easy to get to 8 figures during a career, especially with investment gains.
Now yes, it’s hard to make it to MD in the first place, but that wasn’t your statement.
That money and girls make you happy
How would you know considering you've not had experience with either?
It's okay Pizz you do you big guy
People talk about preftige rankings all the time
Does group prestige actually matter as much towards exit opps as wso says?
The high of prestige wears off faster than you think. Once you work next to people doing the same thing as you, you no longer care.
^ The desire for prestige actually comes from wanting what others can't or don't have. It's the same idea as luxury brands (ie a 10K sweater just for the fuck of it). That sweater, just like this linkedin update some interns will do, will wear off in excitement quickly
I wouldn’t equate career prestige to the ephemeral jollies gained from doing something as moronic and freely accessible as paying $10k for a sweater but ok
As a VP, someone who has experience, how important do you find the prestige of the firm you work at to be for future exit ops, business school placement, and jus overall career opportunities?
hey man I have a nice $10K sweater with solid 10K gold clasps and I just love to be in it. Don't diminish life for me just because you're hating on a 10K sweater...
"EB" is not a thing. I have not heard anyone use that phrase once in real life
How would you compare traditional boutiques, BBs, and EBs then? Or does it rlly not even matter?
In reality you tend to just say "the boutique banks" and most peoples minds go straight to the 'Elite Boutiques' if that makes sense.
Ecm is bad and you'll have no exit opps
As in that’s the fallacy or that’s what you believe?
Interesting, how would u compare ecm to ib, and how would u say exit opps r?
ECM is IB
ECM > T10 MBA > To Infinity and Beyond
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