Full-Time Offer Decision (IB vs something else)

YRC10's picture
Rank: Chimp | banana points 11

Hey everyone,

New to WSO but have scanned the website before. Just looking for some advice on my situation. I understand the final decision will come down to me, but it doesn't hurt to bounce thoughts off other people.

I received a full-time offer for a top MM investment bank. I am super grateful for the offer and could not be happier. I just want to make sure that this is the best decision for me before I sign.

I have determined the pros and cons of IB, but the ones that stand out the most to me are the opportunities available after two years and the amount that you learn on the job. The pay is also great but that can be left unsaid. A major con for me isn't necessarily the hours, but more trying to figure out if those hours are actually worth it. Yes, you learn a lot and have more responsibility than other kids your age, but is it actually worth it and in the most efficient way? Hopefully that makes sense.

If I do banking its going to be here, but I'm trying to figure out what other opportunities actually exist out there that would be worth pursuing instead. Personally, I love following the news and current events and macro events. I enjoy following the markets and understanding how everything in the world ties together (economies, markets, governments). I still enjoyed working with companies, but definitely like a world view of things. But I don't really know what type of job would entail this? I like politics and international relations also. I could always go to law school after and pursue politics, or get a more macro perspective and try and join a fund. Either way, IB would help get there.

I guess my question is, since I'm not exactly sure what I want to do next, should I do IB anyways? Get a great experience and maybe by the end of my two years I'll know exactly what I want to do? If not, I'll still have a world of opportunity.

Or say screw it, say IB is not all what its cracked up to be, and try to pursue something else like Silicon Valley or something more macro oriented.

Posting this to see if someone has ever been in a similar situation or have some insight. Very much appreciated for any help. Should also note that I loved the summer and internship in IB, just want to make check all boxes before making the big decision.

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Comments (14)

Aug 10, 2017

I have a lot of personal connection exposure to Silicon Valley and I have personally been in the environment. I really hate it. In my opinion things here are much more micro level...ex: you work in software or finance for a tech company and see very little of what your job actual does for the company. There is high turnover rate between firms and often times just too much uninteresting work.

Though IB isn't a panacea, it definitely does broaden your horizon and allows you to explore different things after. I think of it as an investment not in terms of pay but in terms of career. You can spend that time in IB trying to figure out if IB or finance is for you and whether or not something seems better. At the same time you are making money and connections to different industries and really get a much deeper level of understanding what you really want to do.

I think your interests would be much more in line with consulting and if so, then I'd recommend to stay in IB for the two years then maybe transition into a more influential role in consulting.

I would recommend sticking it out and really trying to determine in that time if it's for you. Like I said, not many other entry level jobs give you the ability to move around and try different things after starting a career in it.

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Aug 10, 2017

Thanks so much for this. This is in line with what I have been thinking.

Aug 10, 2017

Definitely. Keep in mind, that the fact that you are a bit restless in your choice is good. It shows that you're consciously thinking about the future and about what you actually like. It shows that you are mature enough to realize that money isn't everything. There are people far older that have 0 clue what they want to do.

You'll figure it out soon enough.

Aug 10, 2017

Any other insight?

Aug 11, 2017

Hey OP, Congrats on your offer. I think in regards to not knowing if banking is for you is fine, but how can you be so sure unless you give it a try.

I think your best bet is to run with the offer that you have, (Unless you currently have a competing offer in silicon valley) and see if you like it. If not, then you can think about transitioning to a different role using your newly acquired IB experience.

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Aug 10, 2017

Thanks a ton! That's what I'm thinking. If I had something lined up that I was super passionate about then it would be something to think about, but I think this will be a great experience and set me up for whatever I want to do next. Appreciate the help guys!

Aug 10, 2017

In regards to my commentary on macro perspective, current events, and international relations - does anyone have any insight on what type of job would entail this?

Aug 11, 2017

Equity Research Associate

Aug 10, 2017

I've looked into this. I think I would actually enjoy ER a lot

Aug 12, 2017

You haven't even started yet and you're complaining about hypothetical hours you haven't put in yet.. Yeah go to law school. Be a politician. The world needs more of those.

Aug 10, 2017

Complaining? Or maybe just thinking through an important decision?

Not sure why you're so resentful. Lighten up, bro.

Aug 12, 2017

An investment role at a discretionary global macro fund would satisfy your interest in macro side of things. I can't tell you how to get into one of those funds, as they usually don't hire people straight out of college. Back when banks still had prop desks, it was common for an experienced macro product trader to get into funds like Moore or Tudor. This might still be the case as some of the market making desks still have a built-in prop elements. Still, don't take my word for it as I am in IBD. If you want more info, go ask people at trading and hf forums.

Aug 10, 2017

This sounds interesting and definitely something I could see myself in. In your opinion, would you say IBD would be a good start? Would probably be better to pursue after the two year stint

Aug 12, 2017