Way too many high schoolers interested in investment banking
Let me first state that I am part of the problem.
Okay now that that's out of the way, I'll start my post. Recently I was accepted by an exclusive biz honors program at my state flagship. I was invited to attend at luncheon about the program and went ahead and attended. As I mingled with some of the students, I learned that each one of them had applied Early Decision (you're forced to attend if accepted) to Penn Wharton in hopes of investment banking. Here's some of the things the kids were saying
"Yeah when I'm 25 I'll be making like 500 grand, living that crazy Wall Street lifestyle."
"Make like 20 grand during my summer internship, but that's not that much."
Various jokes about doing blow, etc.
While they were saying these things sarcastically, it was easy to understand that these kids actually had expectations for something great with all the money. I'm not sure if anyone there was interested in the actual content. Eventually, I spoke up:
"It's funny. This is just a bunch of nerds sold on a lifestyle portrayed in movies."
One of the geekier kids saying all this stuff replied, "Speak for yourself, jackass."
He clearly had some insecurity about being called a nerd. Besides for being very awkward/pretentious, he talked about how the fraternities at our state flagship sucked and how they were too crazy for him and his friends. He was definitely a nerd.
Anyways, all of these kids were so hyped about banking and I'm pretty sure none of them had any clue what they were getting into. Moreover, most of them were extremely weird/awkward.
My point is that: ALL THESE KIDS ARE FREAKS
Frankly, I am pretty disillusioned by my experience. I knew it was going to be a bunch of losers, but I didn't know to what extent. With that said, I also see more and more kids posting on WSO. Like I've already stated, I know I'm part of the problem. I've tried staying away from the finance stuff for now. (In my defense, the only time I'm on WSO is during school because we have laptops for class & time to kill). At the moment I'm trying to improve some of my soft skills and enjoy high school while I can. I'm honestly not sure what this thread was supposed to lead to, but I think attention should be drawn to the massive amount of high school aged kids interested in banking and the stupidity of their perceptions of both themselves and the finance industry.
Any input on this? At the very least, was it this bad back in your day?
In time, the ones who came for the wrong reasons won't make it. Changing their mind once they realize what IB actually entails, never making it past interviews, quitting their job, getting burned out, can't get to the buy-side, etc.
There are a lot of misinformed and stupid people out there. Talking like that is just a lot of noise. Just focus on you. Ignore the noise.
I thought Investment Bankers just figured out how to invest their money (and maybe some of the company that they worked for as well) until my senior year OF COLLEGE.
Whaaat? I thought all the cool kids went to engineering and computer science while the jocks studied business, and the kids who went to a target would involuntarily get an IB internship, and continue with finance if they liked it.
Why talk trash to your future classmates?
Sounds like you are the one lacking social skills.
The interview process for high finance can be brutal. That will weed out the people with the poorest social skills. Also, those "terrible fraternities" have a lot of Wall Street connections and the alumni will help out their fraternity brothers, especially from the same school.
In defense of those awkward kids, there is a big difference between 22- and 17-year-olds. They (and you) will probably change markedly (hopefully for the better) the next 4-5 years. Their social skills and maturity will advance.
What makes the interview process for IB butual?
A lot of the participants have never been said no to in their entire lives so it can be quite jarring.
Plus you're going up against all of the top candidates who are every bit as smart as you are. And your interviewer is likely just as smart as you are, except that he/she is far more experienced. For smart people who are used to easily beating out their competition, it can definitely be jarring to run into a buzzsaw for the first time ever.
Too many 5 year olds want to be firefighters as well. Or, possibly Batman. It's an epidemic.
What you talking about? I still want to be Batman. Or an astronaut.
Sorry, what did I just read?
Can we have a 21 and up sub forum.
Delusional young people, sounds about right.
That's Tammy, Trey's ex girlfriend. This is classic Tammy. Trey broke up with Tammy because Marine Cannalan said that she saw Tammy flirting with Walt Timmy at a party, but she was only doing it to make Trey jealous because she thought Trey secretly liked Erin Hennebrary. But Trey didn't like Erin Hennebrary, it was all a bunch of bull.
Lol
high schoolers being high schoolers
If it were an engineering program, they'd say "I'm going to work for Google and Microsoft..."
So you went to mixer for business honors freshmen and were surprised they were all arrogant greedy nerds? And based on this you conclude there are now too many high schoolers keen on IBD? Strong logic there. Your sample size/selection is not representative of a) the high school population b) your program's cohort c) people who actually go into banking. I didn't even know what IB was when I was at school and probably wouldn't have gone to a meet and greet for honors students if there wasn't copious amounts of free booze and/or girls.
I dont blame them. Pretty sure everyone on here had similar goals when in high school. Kinda like how some people talk about becoming a doctor, lawyer, etc.
Um I didn't know what an investment banker was until halfway through college. What a bunch of nerds. Go get laid.
What the fuck does it matter. High school kids always talk about how they're going to reach the pinnacle of their chosen profession. Ignore them and focus on your own development.
I wonder what school this was.
Also, just to echo DCDepository, everyone (most people?) matures significantly when they go from high school senior to college senior. Let the fads of high school fade and then you'll see who floats and who sinks.
I get a similar vibe doing intern interviews. A bunch of kids desperate get into something they have very little idea about beyond "prestige" and "money".
It would be worse if there were as many IB tv series as the doctor and lawyer fantasy shows.
They've started. Last season of Suits had Mike one of the main characters switch from being a lawyer to an IB. Then again the show got it confused because he was doing IB, PE, HF depending on the episode
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