Dilution of Talent in Finance?
Just a quick observation, but have anyone noticed the talent of the people in IB is diluting?
Traditionally, the “best and bright” flock to Wall Street because nothing else compensate better than them. Obviously this is no longer the case.
Now you generally get hard working and hustler who made it from non target. Of course, with another large chunk from minority groups (I.e female). You also get people with nothing to show on the resume but got in through nepotism. Nothing against them but it’s obviously a different crowd. I think WSO/M&I really changed the finance landscape.
I’ve been monitoring people who are 2-5 years above me, who all made it to BB/EB/MC and generally I don’t think they end up in good exit opps. At least not as ‘prestigious’ as what this forums hype. I see a large number from consultant flocking to tech and startups within 2 years in large numbers.
For IB people, they generally exit to a mm/ small pe fund with the occasional MF. From knowing the people, I think an average consultant at MBB is more talented than an average IB at a BB.
Anyone with the same/different view?
how the fuck are women a minority group? they're like half of our population. you're retarded.
I'm hoping that OP meant that women are a minority in the IB realm, in that IB is still very much a boys' club in many respects, especially the higher up one goes towards becoming a managing director or partner.
Clearly there is a dilution in talent if someone with your writing skills made it to IB.
What do you mean monitoring them? You're hiding in the bushes outside of their condos?
Nah. He's parked down the street in The Mystery Machine van with a mini-sat on top...
did someone say hiding in the bushes?
lol
this photo cracks me up every time
![https://cdn.cnn.com/cnnnext/dam/assets/170714092323-bill-clinton-bush-s…] [https://cdn.cnn.com/cnnnext/dam/assets/170714092323-bill-clinton-bush-s… https://cdn.cnn.com/cnnnext/dam/assets/170714092323-bill-clinton-bush-s…
To be honest, you just sound really bitter that you couldn’t get an IBD job at a top bank.
The majority of the class also isn’t from non-targets, unless you count Dartmouth as a non-target.
Because working in IB doesn't take intelligence, and for a variety of social/technological reasons it's become easier to forego working up a typical corporate ladder to end up making a couple million, and instead go your own way, do what you love, and hope to strike it big.
If you're smart, you should realize that that intelligence will translate into more money, let alone happiness, if you do something useful with it, instead of a job that a literal monkey can do, working for an IB. The burnout rate is high, the success rate is low, the quality of life is miserable and never gets materially better, the work is boring, the prestige is gone and the industry is poorly viewed... it makes a lot more sense for someone who has a lot of hustle and charisma, rather than high intelligence, to go into a business where success is literally all about your hustle and charisma and is barely correlated at all to intelligence.
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