Do IBs hold power/respect at 3yr assosciate+ level? (any kind)
Shallow question, I know. Don't hate :P.
Just curious really.
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no :P
@countryunderdog I meant prestige/status really, sorry about that folks. Is being a banker a respectable and prestigious job in our society (ignore the 3+ year associate part haha I'm missing a few hours of sleep - by that I just meant you're actually experienced/starting to become accomplished in the field, not just entering into it)? If possible, what type of job would you equivalently compare it to in those respects?
Furthermore, do IB bankers usually go into banking with the sole purpose of becoming an MD or are there other routes to take (HFs/PE are two I've heard about but isn't the hierarchy ladder about the same?)? Once MD is achieved, do they settle there for the remainder of their career or is there further to go from there? To reiterate - What's the limit for IBs, MD? Can you move into a more prestigious/better paying position within the finance industry or perhaps even into another industry (politics for example) after becoming MD, or is it a good enough position to stay in for the rest of your life? Would it be a smart move to stay in MD for the rest of your career or continue to look for other opportunities? If anyone has any idea or even an estimate/assumption, what % becoming IBs end up becoming MD?
Sorry if this comments a little poorly worded too. I'm having trouble trying to express this question into words.
That may be something you want to work on before worrying about IB career trajectories.
Typically, most are in it until the end (or get fired) by the time they've put in enough time and energy to become an MD. They either chose not to leave or weren't able to find other opportunities with comparable / better pay. It becomes increasingly difficult to move to other high finance roles as you progress higher up the ladder unless you are a proven industry expert. I've seen many more MDs leave a larger bank to start or work for a smaller one with better work / life balance instead of completely moving away from banking. There are always exceptions though.
I have no idea what you are even asking. "Do investment banks hold power or respect at the 3rd year associate level or higher"? No idea what that question means.
1) Even having this mindset sets you up for complete and utter failure in the long term.
2) I'd venture to say over 95% of the American population doesn't even know what investment banking is, let alone the nuances between year/title/exit option opportunity cost correlation. Do you know the difference between Account Planners at media agencies vs. ad agencies? Same thing.
It is unlikely that you will have much power outside of your analysts. As for respect, some people will respect you for your apparent financial success, others will think you are a typical finance-type douchebag, some will blame you and your profession and "corporations" for the recession, and most will have no idea as to what you do (although some might think they do). This is probably generally true for any analyst/associate. The fact that you are a 3rd year associate will carry zero weight in the minds of laymen.
I think OP is asking about where a third-year analyst sits on the pecking order within an IB. OP is probably an analyst having wet dreams of the day he doesn't get shit on by everyone. Associates are like HS sophomores who think they're the shit, but still nobody cares about them, even freshmen.
You aren't even an Analyst - in any shape, form, or group. How can you speak on it?
I know a lot of people who are? Do you disagree with what I wrote?
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