Are all kids in IB goobers?

As a kid from a non-target that is planning on breaking into IB, why is everyone on this site such an elitist goober? Are they all just kids who were awkward growing up and over compensate now that they're getting a big paycheck? Seriously most of these kids from target schools going into IB that I either meet or see post stuff have insane god complexes. I'm starting to think most of them are upset because the kid from a public school in operations making half their paycheck gets laid twice as much as them.

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Comments (142)

Funniest
  • Prospect in IB-M&A
Jul 1, 2021 - 6:59pm

hopeful123

Recruiting isn't going as planned huh

I would say it's going well actually. Also didn't you literally make a post on this website asking people how to talk to others because you were too autistic to know how to socialize just furthering my point with the combination of your elitist comment and social retardation. 

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Jul 3, 2021 - 1:04pm

Prospect in IB-M&A

hopeful123

Recruiting isn't going as planned huh

I would say it's going well actually. Also didn't you literally make a post on this website asking people how to talk to others because you were too autistic to know how to socialize just furthering my point with the combination of your elitist comment and social retardation. 

Oof

  • Intern in IB - Gen
Jul 1, 2021 - 6:59pm

Nontarget here who broke into banking. I see some of that, but not enough to justify being as disillusioned as you are. You must be butthurt as hell over fucking up recruiting or a bad networking call lmao.

  • Prospect in IB-M&A
Jul 1, 2021 - 7:05pm

Nontarget here who broke into banking. I see some of that, but not enough to be as disillusioned as you are. You must be butthurt as hell over fucking up recruiting or a bad networking call lmao.

To be honest recruiting is going well for me, what got me all worked up was a talk with a kid I knew in high school that goes to a target telling me how all his friends were definitely way smarter and going to be way more successful than mine. I go to a top public school(think UT Austin/UVA) and was accepted to Ivy Leagues but landed on my SEC school because a.) National merit scholarship and Money and b.) I wanted to join greek life/enjoy my college experience. The thing that bugs me is kids who go to targets thinking that they are automatically better/smarter than everyone else and shitting on them to make themselves feel better about their inept social skills.

Most Helpful
  • Prospect in IB-M&A
Jul 2, 2021 - 1:27am

except when the kid who goes to an SEC school for free ends up at the same BB as the kid who went to harvard for $400,000. at a top public university anything is possible if you grind and put together a network.

  • Principal in PE - LBOs
Jul 1, 2021 - 7:23pm

I don't think some UT SAE frat star would waste time posting on here but of course don't really understand Gen Z in general

Jul 1, 2021 - 7:49pm

Most of the analysts I've met are extremely unpolished, and end up staying in banking unfortunately. 

The polished analysts leave to PE after 2 years. Happens every time.

Just look at your own INVESTMENT BANK, and you'll see this.

As time has gone by (10+), the analysts class IMO at lower tier banks, get more unpolished and unpolished relative to PE

GS is going to GS

MS is going to MS

JP is going to JP

But to answer your question, they are not goobers (at least the ones who leave to PE). 

Those who stay on as associate, really are not that good relative to PE associates. They can just work hard, but have no real intellectual skills but doing some bullshit synergy analysis, or doing a comp table. VP is no better vs VP PE. Huge difference between VP in PE versus VP in IB.

As others have mentioned, the models and slide decks have all been done. Everything gets reused. There is 0 original thought outside of live deals. PE is nothing like that.

Banking is such a great career, because you make so much money for adding 0 value. It's a sad fact.

Your only value is your willing to give up your weekends and weekdays in exchange for 175K. You trade your time for money.

  • Analyst 1 in IB-M&A
Jul 1, 2021 - 8:25pm

If most analysts stayed on as associates then banks would stop hiring mba associates. Can only speak to my bank/experiences but almost all analysts leave, maybe not all to pe, but not many stay on as aso. 

Jul 2, 2021 - 10:31am

Not disagreeing w you but surprised you think most of the analysts are unpolished. Given banking is so competitive wouldnt only the most polished people make it 

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  • Analyst 2 in IB - Gen
Jul 2, 2021 - 1:30pm

Generally don't agree with this at all. Most A2As i've met have been pretty damn good and could have gone to PE, and I can recall some awful analysts who landed decent PE gigs because they could interview well enough and maybe care enough to put effort into a modeling test. Given that you spelled check as "cheque", maybe this is a London thing? Could maybe see it if you QC the PE gigs. So isolate MF or top MM and compare that to the A2As.

  • Prospect in IB-M&A
Jul 2, 2021 - 1:50pm

His grammar and the number of times he said "polished" and "unpolished" makes me think he has to be from the UK.

Jul 9, 2021 - 12:49pm

Recruiting in London is a weird one. There's no actual structure so there's people applying with 2 year analyst stints, associates applying, ACA qualified people, CFA qualified people so this likely isnt London.

  • Analyst 2 in IB-M&A
Jul 2, 2021 - 9:59am

Yeah a lot are elitist goobers and a lot aren't. Lots more people going into banking then you might think. Would say that recruiting stress (esp how early it is these days...) really brings out the worst. Lots of people mellow down and chill once they are actually in the job

  • Prospect in IB-M&A
Jul 2, 2021 - 1:05pm

No this post reeks of an angry person who took way to much adderal. The fact that you commented reeks of insecurity 

Jul 2, 2021 - 11:03am

Pretty obvious why most of this site is elitist goobers… born rich-go to private school-go to target-go into IB. It literally could not be easier for a good majority of the people on this site. I see what you're saying, it's lame af sometimes, but you can't go into IB and not expect it unfortunately. There are some good people in the business and if you have a bunch of friends from your non target then you shouldn't care what some loser from a target school thinks about you. Don't forget that literally no one cares about finance outside of people in finance.

  • Prospect in IB-M&A
Jul 2, 2021 - 1:30pm

I tend to disagree. I think it's mostly kids that aren't the cream of the crop at targets and semi-targets looking for validation because they know they aren't smarter than the top kids at top non-targets.

  • Analyst 1 in IB - Gen
Jul 3, 2021 - 5:25am

Nah, that would be Reddit. The folks here are usually target school or semi-target school kids or at worst "weak" semi-targets / "strong" non-targets like UIUC, Penn State, Baruch, TAMU etc. 

Jul 9, 2021 - 1:37pm
  • username1407 - I have to be dead-on that all my favorite posts on WSO are from the non-target, leftfield types who bring reality into the industry.
Jul 2, 2021 - 1:09pm

its because most of the the elitest scrubs that still worry about rankings, making the most money, top tier group, etc. either haven't worked yet or havent been humbled yet at their job. Once any rational and emotionally mature adult has worked their fulltime job for a year or two they usually mellow out or come to some realization they are no better than other people. 

Its mostly college kids and first year analysts spending seeking validation on this forum.

  • 2
  • Analyst 2 in IB - Gen
Jul 2, 2021 - 1:44pm

you're being too thin-skinned. People here shit on each other, it's part of the culture. Just roll with it. Nobody in the actual job gives a shit. 

Jul 2, 2021 - 3:04pm

Don't worry about them. Just be nice to them.

They'll end up being one of thr 2 cases.

1) Become mature in the next couple years and realize how cringe they were.

2) Never ever make MD and live their lives in misery disguised as elitism

Jul 2, 2021 - 6:17pm

Not an IB guy but wanted to chime in because you are murdering people in the comments and I love it. You'll be just fine. Based on your responses, you have a high EQ and you are witty. After you land your first job, these things will be far more important in advancing your career than you realize. Keep working hard and stay hungry and you'll be where you want to be. 

Jul 2, 2021 - 6:50pm

It's all a simulation anyways. Nothing really matters, do not be offended by anyone, particularly the "goobers". However, I might say myself that often the reason we don't like people in compliance/operations/etc is more so because they make our lives miserable than anything elitist (at least I hate them for good reasons)

Jul 3, 2021 - 2:31am

it's funny because at my target (HYPSW) i almost never experienced elitist behavior from my classmates. we mostly appreciated how lucky we were to go to school where we did and never once did the word "prestige" come up in our conversations about recruiting except ironically. then again, most people i knew ended up in consulting or tech, and if they went to finance it was as quants (math nerds), so maybe this is a problem endemic to banking lmao

Jul 3, 2021 - 7:22am

Interesting question OP. Speaking as someone who was maybe a "part-goober" when I was younger (I'm 30 now, went to a semi-target), I can give my view on this.

I think a big part of it is life up to the age of 21 is generally very black-and-white, especially for privileged kids. Get the best grades, get into the best colleges, get the best internships = success, not achieving this = failure. Simple way to keep score. Hence why you get so many kids on here foaming in the mouth over "prestige" and working at GS vs DB etc, getting into PE.

In real-life past the age of 21 however (as I and others quickly found out), reality is a lot more complex. In contrast to your school/college days, "success" is much less black-and-white and more shades of grey. For instance, between a burned out 30yr old in PE who makes $500k but hasn't taken a week off in months vs. an ex-IB guy who now works in F500 corporate development making $200k working 40hr weeks so he can see his wife & kids - who is the "winner" here? It's suddenly not so clear (I realize these are extreme examples but just making my point).

Secondly, I think privileged kids especially can live in a hyper-competitive bubble through school/college, where things like prestige are a huge deal for them. In the real world however - nobody really cares that much. Don't get me wrong, if you go on a date a girl will be impressed that you have a good job and nice apartment - but I can promise unless she works in finance, she will not know or care about the difference to working at Goldman vs Blackstone vs Wells Fargo.

Most privileged and target kids (myself included) quickly realize this after a few years - i.e. that a girl at a club is not going to be impressed by some overworked analyst who hasn't seen daylight in months saying he works at Goldman or is "a banker doing deals." Myself I work in PE, but a lot of my ex-IB friends are in a variety of roles - F500 corporate development, still in IB, at startups etc. Tbh we rarely talk about work when we meet up these days (except in a general sense) - there are much, much more important things to chat about now - e.g. people are getting married, having kids etc.

So in summary in answer to your question OP - yes there are a lot of "goobers" in your IB analyst years, however most of these kids (including myself here) will grow up quickly and realize things like "prestige" etc is really not that important in the grand scheme of things.

Jul 9, 2021 - 1:45pm

To further the point, as a fellow 30-something, I can attest to the fact that once in for a couple of years an employer don't give two you know what's about your college/internships. Only what value can you bring to the table. They're going to pay you that fat salary if it's to get someone to be there to bring in at least 2x in revenue.

  • 1
Jul 12, 2021 - 12:38pm

This is so true.  If you are in a relationship.  The extra marginal dollars, title or company name will ultimately not matter in the grand scheme of things.  AKA if you end up dating a nurse is she really going to care that you make 200k or 300k no.  The fact that is that someone making 75k will probably not even be have to really comprehend what an extra 100k really feels like.  I only know this because I have had in depth conversations with people that only make 75k and they much past 150k people just think its a lot of money.  

Jul 3, 2021 - 12:00pm

I'm starting to think most of them are upset because the kid from a public school in operations making half their paycheck gets laid twice as much as them.

LOL!  You're the one overcompensating by being a man whore.  

Jul 3, 2021 - 3:58pm

I get your points, but I am not sure I agree with them all. I am a first generation student from a low income family (in Europe though, fwiw). Thought of IB as some elitist industry too and was a bit scared before entering my first internship at an EB. But actually the people there (and also at the BB I went to after and joined full time) were extremely humble and down to earth. Maybe the extrovert show offs get weeded out before entering the industry more efficiently in Europe than the US?

Jul 9, 2021 - 1:47pm

Usually they're the ones who actually do. Look at the non-target and leftfield success stories from experienced individuals here on WSO.

  • Business School in IB - Gen
Jul 3, 2021 - 6:53pm

I would hesitate to generalize every kid on this site as elitist target school kids- a large majority of the students are just finding out about high finance and this platform is a pretty damn good spot to ask questions

  • VP in IB - Gen
Jul 4, 2021 - 12:08pm

OP sounds like a sore loser with a chip on his shoulder.

Don't tell me you got into an Ivy but didn't go because of money...any Ivy would've given you a full-ride. If you're more concerned about getting your dick wet, that's a YOU problem.

For the record I went a top public school for UG (rejected by HYP), but Harvard/Stanford/Wharton for my MBA.  

Don't hate the player, hate the game.

Jul 5, 2021 - 12:14pm

That's if you're really poor. Usually it's the middle/upper middle who get slammed. Enough money to have a comfortable life but not enough to shell out 200k.

Array

  • 1
  • Intern in S&T - Equities
Jul 5, 2021 - 12:20pm

Currently summering in NYC at a BB, and I'd definitely tend to agree with you. 

Coming from a non-target, non-Ivy Southern Top 50 school, it was really a huge culture shock to meet these types of kids at intern bars. You never find them down here in the South. And I don't mean that in a bad way - they're actually really nice kids. It's just that 80% of them are Ivy League legacy babies with pushy parents, went to a sheltered prep school where they got a 4.0 and a 1590 SAT, played varsity squash, and every other "cookie-cutter" credential that could've landed them into Top University + IB job.

But when you're that focused on academics growing up, + having your well-educated parents trying to make you a perfectionist.... it's obviously going to mold you into a different personality than, say, the "public school guy working in BO operations making 1/2 as much". What makes you think a 22-year old working 80-90 hours a week, that studied alone in his room 20-30+ hours a week during college to earn his high GPA, will be more charismatic and outgoing than the frat guy who partied and went out on a Tuesday night? 

Life's all about choices - some people are great at striking the balance, others care too much about one extreme (either social life or earning lots of $).

  • Analyst 1 in IB - Gen
Jul 7, 2021 - 2:54pm

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