Does anyone do IB to stay in IB?

isa2130953's picture
Rank: Neanderthal | 2,569

I always see people talking about exit opportunities in HF, VC, or PE and never anything about staying in IB.

People always talk about"getting through" the tough hours to move on...

So does anyone really stay in their role and move up through the BB as their first choice?

Also, PE is known to also have crazy hours, as does VC (I think hedge funds are more flexible).

So if you are leaving to escape crazy hours, aren't you are just going to be dealing with a similar situation?

Comments (29)

Funniest
May 9, 2019

yup, psychopaths stay in it

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May 14, 2019

lol good to know

May 9, 2019

No I have interned in a MF VC firm and hours are 50-60

May 9, 2019

Intern =/= FT job.

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May 9, 2019

I am saying the FT were 50-60 hours

May 9, 2019

Post-MBA associates

.

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May 9, 2019

I'd say anyone who is risk-averse stays in IB. Compared to IB, a vast majority of people in PE or HF end up leaving after a few years because they aren't good enough and moving to smaller PE/HF firms or to a different industry within finance (like corp dev or back to banking). But it shouldn't be cause of that it should be cause of what you want to do.

At the most fundamental level:
IB is working on deals to raise capital and profits off of the commission from their services.
PE is working on deals to buy and fix private companies and then later sell them for a profit.
HF is for trading public securities and derivatives for a profit.

If someone hates buying/investing for the long-term and likes the variety and number of deals, then IB will appeal more to him. You have to look at a person's motives.

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Most Helpful
May 9, 2019

You have no idea what you are talking about.

Most people who stay in IB does it because they like the whole selling process, pitching, holding auctions, bringing on new business etc. It doesn't have anything to do with risk-averse or not - you could work at a boutique IB where you are only paid on the deals you source, similar to a PE/HF structure.

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May 9, 2019

I mentioned that toward the end of my answer. But everything plays a factor.

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May 14, 2019

Very well said. many people write IB off the books though (from what I know) because of the work life balance. I know a lot of other VC PE HF that have hefty hours though too. But yes I think people don't consider this enough and that's why they burn out

May 9, 2019

left the first chance i got lol.

-ex-2nd year bb analyst

May 14, 2019

Was your experience really bad? Asking honestly

May 15, 2019

worked in a small C&R group, and as an anlalyst i was front loading the work of VP/Assoc given we didn't have enough people to cover the volume of the work required. so was getting killed everyday / weekend.. used these experience points to leverage a new position at a startup working under the CFO. best decision of my life.. good work/life balance, a lot of responsibility, but more interesting/impactful work

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May 9, 2019

my best friend from childhood stayed in IB...is now an MD and co-head of his group (made MD around age 35)...and i think he makes 2-4mm/year. He likes talking to CEOs in the industry...has an impressive rolodex...and could leave to the buyside whenever he wants...but why bother...its a cushy life now.

just google it...you're welcome

May 14, 2019

Interesting I never hear a story from that perspective. So many people are just focused on getting out

May 14, 2019

Out of curiosity, what type of bank is he at (e.g., BB, EB, MM, etc.)? I'm sure that affects it to some degree.

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May 14, 2019

definitely does^

May 14, 2019

I doubt if it's cushy. Co-head of a group will spend a ton of time (not one second of it rewarding) on administrative work, is under incredible pressure to bring in deals, constantly needing to recruit people at all levels, probably travels >2 days a week, takes calls at all hours / 7 days a week, and on top of all that, maintain his own client relationships to bring in and execute deals.

No one is paying anyone $2-$4 million for having hung around longer than everyone else.

May 15, 2019

To be fair that is the same for most of the corporate/finance/investing roles anywhere. Part of my family has such a lifestyle in the corporate ladder but they don't make 2-4mm. Finance pays better than other industries overall and at the top level you gotta work a lot. If it's not your clients that are calling you, its your boss that is on the other side of the world that wants your revised earnings projections for Q1 by tomorrow.

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May 15, 2019

The really smart and/or creative types leave banking. And they should.

Intelligence / creativity doesn't matter in banking.

It's about networking and how much bs from clients / internal politics you can handle.

So it's a great job for the risk averse person who is good at the above, but super smart and/or creative people go where being smart/creative matters (investing, startups).

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May 15, 2019
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