Finance Principles applied to Investment Banking
In an efficient market, everything trends towards an NPV = 0. However, I would argue that investment banking was and still has an NPV > 0. There is little upfront monetary costs and there are few downsides to working in the field. Despite this, the return does not seem to be coming down much and may never completely. At the analyst level, the fair value for a monkey doing powerpoints seems to be less than 6-figures yet this does not change. Please discuss.
