Now that I am on gardening leave and doing fuck all (I'll be travelling in a bit, just have to sort some stuff out).
A few things I have learned: - Never stay at a bank more than 4-5 years, always change. - The equity's floor is a mad house, hours are good, people are insane (including yours truly) - A BB name is just an excuse to pay you less, start at a BB and then go wherever (some BB will still throw money at you, but they will guarantee you in shares...)
There is only one thing that matters: Cash, cash, and more cash. The BS that is being thrown at you by big banks is fucking insane. Shares are shit, differed bonuses are shit, promises are shit, cash is king. Again to my point: only cash matters. If you are good your clients will know you, no matter where you are, and you will ALWAYS have the choice for going back to Goldman and the like.
No matter how good you have it, never stay at the bank you started at for too long. Know your competitors better than your clients (they will be the one giving you jobs...) And if you love your bank that much, if you get an offer somewhere else you might as well just use that to leverage a salary increase...
Head hunters talk crap, will use you as much as they can, and for the vast majority of them are worth FUCK ALL. You might be able to go around them but that won't change much pay wise; never believe a single thing they say.
For those not in banking yet: would I do it again if I had the choice? YES - the beginning is tough, but all my friends in M&A are now in PE or giving their menial work to analysts. Where as for me, I had some days where I thought I took enough shit from all those ass holes and I really should quit; there probably was not a single month where I was fulfilled and happy with my co-workers.
Yet I put my time into it, and now I have an incredible boost to my CV, and i am heading to a bank where I will be developing the business on my own with no boss taking credit for my work... Just the usual sales trader / trader conflicts :)
NY vs London - does not matter. I was offered a job in NY out of London, did not take it. Again - if you are good EVERYBODY will want you. As long as you can bring cash. (Am not that good, but good enough for a job in NY, no need to be arrogant either in this job... No one likes a cock)
So repeat after me: C-A-S-H
(Now don't be an idiot, at the beginning of your career if a bank offers you 45K or 50K that really does not matter...)
want to clarify : Moving from one BB to another is good as well! You can get some fat guarantees if they really need you
So this is your rant from somewhere nearer the top of the mountain? Not sure what to make of the rambling ...
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