Boomers always tell me to go into banking first and recent grads tell me they regret not recruiting for the buyside...
This is coming from the perspective of someone who wants to go to the buyside like everyone else...
I still don't understand. Every boomer I ever talk to (every person over 30+) tells me that banking builds such a great foundation, modeling skills, etc, blah blah blah, even if they did ER or S&T or smth else themselves. On the other hand, all the IB analysts at places like EVR, GS, PJT RSSG, from my school tell me that they regret not recruiting for buyside roles as most of them only recruited for IB if their end goal was an investing role.
From networking with boomers, I've realized that they are often woefully out-of-touch about some very basic things. Is this one of those times where they don't understand how well-designed and structured buyside programs have become? Or is it the wisdom that comes with age, and the analysts/associates I speak to are just eyeing greener pastures (even if they aren't any greener)?
I think most of it is that banking is seen as a rite of passage for PE, some HF's etc.
They also don't want to see someone end at an MF without ever enduring banking when they spent 3 years slaving away at Wells Fargo.
Is "boomer" now just an ironic term for anyone over 30? Because the last Baby Boomers were born in the late 1960s. Since then we've had Gen-X and Millenials.
yes
Only a boomer would ask this question
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