Are investment bankers “smart”

Title says it all. I am studying math and physics, but I received &accepted an offer at an EB several months ago. I am genuinely concerned that I will be bored. On that note:

What truly makes you interested in investment banking? I don’t want to hear anything about the money. Pretend that you are being paid jack shit—would you still work this job? Do you believe it is intellectually stimulating?

Thanks guys.

 

I would like to do a PhD in math, but I cannot shoulder any more loans. Are fruitful quant trading positions open for undergraduates? If so, do they pay decently?

Thank you for your comment.

 

Also a math major so here's my two cents. I loved math and equations and considered myself okay at them. But at some point I realized they are all somewhat pointless: the assumptions in models are bullshit and, while useful as a framework, nothing that 'happens' in the world really goes according to equations. Human interactions play a much bigger role than mathematicians would like to think.

Mastering equations is easy (relatively), mastering people isn't. IB is sales, i.e. 'mastering' people and I find that more interesting because it's harder. Of course I wouldn't do IB without the pay, but the pay and my interests are interconnected - if mastering people was such an easy task then IB wouldn't be a value add to the market and the pay would be shit.

 
Most Helpful
Prospect in IB-M&A:
I am studying math and physics

Not sure what to say here... congrats on the sex?

 

The truth is that the majority of high-paying jobs out there do not require genius level intellect.

If I remeber correctly, with an IQ of 125 you are able to master all challenges in a normal professional setting. While there is certainly 10-20 more points which could make a difference, at a certain point (imo 145-150) you will see adverse effects in aspects that are just as important for the job than intellect (inability to working in teams, inability to execute quickly by turning off a certain amount of reflection, communication skills etc.).

Investment Bankers, similarly to Lawyer and Consultants, at the top firms will most likely fall to a very high percentage in this 115-135 range which does not make them necessarily smart but very effective if other characteristics such as determination and stamina apply as well.

 

Ex et minus est hic enim maiores nulla. Et a et fugit animi aperiam. Iusto qui ut natus inventore et. Et eligendi quam exercitationem et possimus velit. Nisi eaque veniam quidem dolorem autem. Neque qui quo repudiandae voluptatem voluptatem. Commodi nihil ab in quas aut est.

Persistency is Key

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”