Everyone really needs to relax and take a deep breath
Several months ago, I was very happy to have an internship offer at a lower-tier BB and consequently a FT offer. I thought that once I had obtained one of the most coveted positions among male college students, I was set for a good start of my career. Then one day I got bored and started reading this board. Soon doubts started settling in. It is not about just getting an internship, it is about getting a FT offer. It is not about just getting a FT offer, it is about leveraging it so you work for MS, GS, or Lehman. It is not enough to just work for those banks, but to work for the group that guarantees you KKR, Blackstone etc. Kids who are just sophomores in college worry what they should do so that 5 years down the road, they can work for KKR.
RELAX! Smell the roses, enjoy life, get laid, have a drink, jerk off, watch football, play football, just have some fun for Pete's sake. Life is coming at you, don't worry. But take life one step at a time. You can't always plan for 5 years ahead. The Soviet Union did and it failed miserably. Here is what you should do!
First and foremost, GET GOOD GRADES!!!! Nothing else matters if you are a soph or junior in college. NOTHING!
Then at the end of your fall semester junior year, start looking for internships and prepping for interviews. Before I started applying, my resume consisted of cafeteria worker, maintenance, and cashier PLUS a SWEET GPA. I got interviews at GS, Bain, Wachovia, DB, and others Just get grades, and the interviews will come.
Then, once you get the internship, just work your butt off to get a FT offer regardless of where you are. No offer, and you can kiss IB goodbye. Don't think about leveraging it, don't think how much greener the grass is at GS, while you are stuck at BS. Just get an offer!!!! Once you have that, start thinking about more long term plans. Leverage, whatever.
But among all this long-term planning, the true purpose of why you will be busting your ass for several years, pulling all-nighters, is lost. The purpose is so that one day, you and your family and the people you love can have a good, comfortable life, without penny-pinching when you need a new TV, or a new car. The purpose is so that one day you are happy. But you don't have to be miserable along the way. I am sure that an MD at Citi is just as happy as an MD at MS. KKR doesn't equal happiness. If you are rich as crap at 40, but twice divorced, chances are, you are not happy.
Relax. Stop planning for 5 years down the road and concentrate on getting that internship first. Worry about options when you have to worry, not before that. There is plenty of things to worry about in a lifetime, so no need to artificially create more.
Well written for such a young one. Too many here are obsessed with what they've read in books and many (who post) are fanboys more than anything, eyes filled with stars on the glamour and dollar bills associated with banking.
Thanks for the great info!
I was planning on just shooting for places around my area (Stifel Nicholas and maybe some boutiques in Chicago) and working there for 2-3 years and going to a top MBA program (hopefully), and then working as an associate at a top bulge bracket bank. From there on I have no idea what I’m supposed to do; I’m new at the whole “finance careers†thing. What’s after associate’s level if you don’t make VP? Go work for KKR (I honestly never heard of this place) or Blackstone?
An older associate
Do the older associates get pay increase or is their salary capped off after some time?
One of the best, no-nonsense posts on this board.
this board is evil
Salam is right, go out and get some pussy, you people. I have a shitty gpa from a non-target school but I managed to get an internship at MS's PWM department, which I just finished, and got another one as an analyst. Instead of burying myself in my books I was out getting pussy, which some of you guys should stongly consider doing.
Peace reggins
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