Did anyone enjoy or appreciate their IB experience?

There are plenty of posts about how horrible IB was for people, but did anyone appreciate it or like it?

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Comments (45)

Funniest
Nov 1, 2018

No

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    • 1
Nov 1, 2018

Something tells me you're just a little bit biased...

    • 5
Nov 1, 2018

Username was a bit of a clue

    • 4
Nov 1, 2018

You're a psychopath if you enjoy it

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    • 1
Nov 1, 2018

...and basically guaranteed to be a shitty parent

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Nov 1, 2018

I had a great experience as an analyst. I really focused on fit and culture of the group I was joining. Some of my best friends today are from my analyst class, including my best man at my wedding. The late nights suck and the pressure on live deals can get intense -- especially when you have no idea what you are doing, like me at the time -- but my future employers gave me a lot of credit for having been an analyst in a top group and the network is fantastic. It's just what you make of it -- it's not forever and two years go by in a flash.

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Nov 1, 2018

No. Banking is a fucking nightmare. Check my posts.

tx.
-tired&angry

Most Helpful
Nov 3, 2018

I have had a pretty defined change of heart on my IB experience. The first few years were pure misery. Hated every minute. If I answered this question during that time, it would reflect all the answers above. Now, while the life ain't easy, my well being and level of happiness is in a much better place. I enjoy work so much more and find myself more engaged than I've ever been.

A number of reasons for this. First, I find the work as an associate (I'm A2A) far more intellectually stimulating than analyst work. Now it is crucial to know the ins and outs of a transaction or pitch to understand how to drive content and move the process forward in an efficient manner. That big picture view makes the work much more interesting. It certainly helps to have this perspective as an analyst, but it's much harder to maintain when you are scrubbing numbers, creating charts, deep in a model for days on end.

Second, the hours have been better, not just as a function of being one more wrung up the latter. I have found for myself that hours worked directly correlates to well being (as I try to have a very active life outside with family, gym, faith, hobbies, etc.). If things hit the fan tomorrow, suckiness of the job would return and be fresh on my mind.

Third, I used to be a generalist but am now in an industry group that I really enjoy. Nothing is worse than slaving away 90 hours on some FIG book you have 0 care about. Now if that 90 hours is now spent on something you find personally interesting and very connected to where you see yourself in the future, it makes a massive difference. I'm not a banker to be a banker, but to understand finance in the context of industries that I find engaging and relevant to my future.

Fourth, you have much more respect and autonomy, assuming you've proven yourself. I hated being told what to do each step of the way as a young analyst. But I had to go through that to 'get it' and understand how things work and how to get stuff done in the most efficient and accurate manner. Now it's about driving that process and it's exponentially better to be able to do it myself (with a real focus on well being and happiness of those below me).

There's def other factors but those are the main things. Not sure where I'll be in several years but I'm grateful I've had a change of heart to make the days and work actually quite fulfilling. I don't blame anyone for hating it as I didn't think anyone could hate it as much as I did, but the sooner you can get to a place of enjoyment and fulfillment, it makes a world of difference.

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Nov 3, 2018

^ I second that. Didn't enjoyed my time as An (maybe except 3rd year where it started to get a bit better). Totally different story since I've moved up

Nov 3, 2018

This is a very helpful and introspective response - SBed.

Can you speak on why you went A2A instead of ditching for PE/corp dev etc? Curious to hear especially since you disliked your analyst years.

Nov 3, 2018

Ha likely reason for some people but not my case, harvardboy

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Nov 8, 2018

Didn't you just post a thread on if you could wear a rolex to an interview as an undergrad?

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Nov 8, 2018

Yeah. Relevancy?

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Nov 3, 2018

For sure. The first reason was that I started out in an international location where I did not see myself long-term. So finding a new job in that country was not ever my plan and, after networking intensively to find a job back in the US or another market, I found that it's very difficult to get a job when you are overseas, even with solid experience and BB, which speaks to the level of competition for those gigs.

The more recent and now imporant answer (have since moved to a major city) is that I value global mobility in my career. I'm now in my third country with my bank and could see myself switching countries again in a few years. PE and Corp dev are just very local businesses and any international assignment would likely only happen when you are very senior. I love seeing the world and to be able to do that with a solid career at a young age is my number one goal. Right now, banking is providing that. If another option came up that allowed that path, I'd go for it. Until then...will keep at it

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Nov 14, 2018

What would you advise to someone who is coming in from an MBA program? How hard is it for an Associate to make VP ? Also, any thoughts on work life balance at the Associate level in terms of hours ? Thanks

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Nov 3, 2018

Looks like I'm in the minority here. Only been on the job for a couple months now but I love my group - great culture, incredible work/life balance (sub-70 hours most weeks so far, and at a good BB group nonetheless). It's honestly been so positive to the point that I came in with the mindset of "I'm doing PE 100%" and now it's become "Yeah I enjoy the work of PE more but do I really want to work more hours at a fund that could be full of a bunch of stiffs?".

It's really underestimated but culture will make or break your experience in my opinion. Lot of people choose jobs exclusively off exit opps/prestige but at a certain point in your career I think you have to stop chasing that and find a spot where you'd actually enjoy working - otherwise you'll become that misanthrope MD you've been telling yourself you'll never become.

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Nov 3, 2018
DalaiLama:

It's really underestimated but culture will make or break your experience in my opinion. Lot of people choose jobs exclusively off exit opps/prestige but at a certain point in your career I think you have to stop chasing that and find a spot where you'd actually enjoy working - otherwise you'll become that misanthrope MD you've been telling yourself you'll never become.

So would you say after a couple months of being employed you've finally reached that point in your career where you have stopped chasing and found a place you actually enjoy working?

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Nov 3, 2018

Way too premature to say that - who knows what I'll think in 12 months. I will say that currently I genuinely enjoy going to work, and any switch I consider will be carefully vetted in terms of culture/work-life balance. My post was a broader opinion on career paths rather than a personal statement. I've just never been able to wrap my head around people chasing the next most prestigious opportunity while hating every minute of it. At a certain point, be it at 25, 30, 35 years old, you have to find a group of people you like to work with, no?

Nov 11, 2018

The kids these days are figuring out their entire future so much earlier there days

Nov 3, 2018

Hey man, interested to hear which coast you're on? I landed a FT spot at a lower BB on the west coast in tech, heard the hours are gonna be ~70-75/week, which isn't too terrible.

Nov 3, 2018

That's over 10 hours a day, 7 days a week. Pretty bad if you asked me.

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Nov 3, 2018

My SA gig was around 65 a week, with a little weekend work here n there, so an extra 10hrs shouldn't be too bad -- was also commuting 1.5hrs each way, 5 days a week. If anything, will probable be somewhat better.

    • 1
Nov 11, 2018

Usually that's more like 14 hrs a day Mon-Fri, and then another 5 on Sunday

Nov 11, 2018

Still that's terrible

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Nov 11, 2018

It's not great, but provides great exits for kids with above average intelligence who don't have a talent in other fields such as tech, medicine, etc. (not an insult, just a fact) while still providing an easy path to six figures comp

Nov 11, 2018

So tech/medicine/finance are the only fields you can make 6 figures?

    • 1
Nov 11, 2018

Are you actually a moron? That's exactly why there's an etcetera

    • 2
Nov 13, 2018

The first few months are known as the "honeymoon" phase. Wait till you have been there close to a year and reassess.

    • 1
Nov 16, 2018

^this is accurate. You are actually learning quite a lot in the first few months (somewhere between 6-12 months is where the learning curve stops.)... in the ideal world that revolved around you, you'd be able to job hop as soon as you hit the learning curve plateau and move on to the next challenge you want to take on but that's not how businesses work. They spent that time training you and now they want to monetize that and in banking that means working you brutally.

Nov 3, 2018

The subtleness and au courant smell emanating from a freshly printed confidential information memorandum. My hand gently moving across one end to the other, the paper touching mine in unison. The warmth bringing back honeyed memories of afternoons juuling with my mum on the front porch of folsom state prison.

memories like this will make me truly cherish my time spent in investment banking.

What concert costs 45 cents? 50 Cent feat. Nickelback.

    • 16
Nov 3, 2018

lmfao

Nov 3, 2018

love that memory

Nov 3, 2018

I didn't enjoy but I appreciate it. I learned a lot and made some friends. There were multiple times where I hated my existence, but it became worth it in the end.

Nov 16, 2018

Well you're also coming in with a buyside job, probably 70% of your peers weren't so lucky

Nov 8, 2018

Frankly, it comes down to who you are working for. Bad MD/VP can turn a great experience into a miserable one.

Nov 8, 2018

I liked my team, hated having zero control over my life

Nov 8, 2018

I actually had an originally more positive experience than most (or so I thought), but in retrospect after Piper just decided to fuck me, I'm completely over that place and a lot more jaded about banking in general. Especially hearing that pretty much nothing has really changed ever since the "Piper Jaffray: Sweatier Than Ever Thread", I don't recommend anyone work there unless that's their best option.

That said, banking did teach me a lot and I have some good friends because of it. Given the classes I'd taken mid-late college, I'd probably go through it again because I had to in terms of what I set myself up to do (just not at Piper), although if I could truly do it all over again, I'd learn coding early on in college and go the tech route instead. Still in finance now and doing well, but wish I could've at least tried coding or something.

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Nov 8, 2018

Explain, you were so high up on your experience and now you're pissed af? Its no mystery that coding/tech is the more lucrative/stressless route but its not our fault.. we were all conned by Wolf of Wall Street and we're making good money nonetheless.

What concert costs 45 cents? 50 Cent feat. Nickelback.

Nov 8, 2018

More just realizing people in the industry generally suck and aren't that nice. And then all the hours and personal sacrifices.

I dunno. Def didn't love IB, was just saying I had a more positive perception and now I see the true colors.

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Nov 9, 2018

what sort of options exist in the tech industry for finance students? Im sorry if this has been asked before

Nov 10, 2018

fintech, lol

Made ya look

    • 1
Nov 13, 2018

Tech companies will have internal accounting and finance roles like FP&A if that's what youre looking for

Nov 9, 2018
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Nov 10, 2018
Nov 16, 2018

JM28

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