Go into banking for the right reasons and don't complain

I'm a prospective monkey and after talking to people from various professions this summer, it's clear that your early 20s is the time you're sacrificing building the foundation to the life you want to lead. If you're an aspiring surgeon in the middle of Kansas - you're working your ass off in med school while piling on debt, if you're an entrepreneur in sunny California - you're in a time of great insecurity/uncertainty with 0 income and running out of places to stay for the long nights working on your breakthrough project, and if you're a banker... well we all know. Point is lot's of us struggle, but hopefully we're working towards something

On a friday night, you see your friends on instagram appearing to have the time of their life. They didn't do too well in school but hey they got a decent job 50k with great work-life balance. You can't trust social media - millennials use social media to project the life they want to live. It's all perception and hey - maybe bankers should start posting insta pics of random board rooms, pictures of you sitting in your nice suit 30 storeys above NYC at the BB office (caption it, "working on a billion dollar merger"), pictures of your late night car rides home.

Watching a video interview of David Rubenstein (a guy who went through law school and other things before starting Caryle and becoming a billionaire), he said there are many stages in life and many people peak early. Sure we sometimes hear about overnight successful millennials or we see millennials living the time of their life on social media out travelling and 0 shits given about career plans. Well, there's still 60 some odd years of life left - you don't have to feel bad and envy eternally. For many it's a lifestyle choice, we can too ditch the banking life and buy a one way ticket to a place with a nice beach.

Finally, too many of my peers went/go into banking for the wrong reasons. You graduated top of class, naturally hard working, and you went into banking because it's the "hottest job" or it's the highest paying straight of college. That sticker of admiration/approval you get from your peers for being employed in at goldman is fickle thing. Few months in, you start complaining and regretting. If you think breaking into IBD gives you instant success and ability to live the life you want, then you're wrong. It's only the beginning of it. You're focus shouldn't be making as much money as you can while if you're 20s - many aspiring lawyers, doctors, etc. aren't pulling in a dime while you get paid 100k+ to build the foundation of the life you want to lead. I find, the people who complety quit and write long complaints about banking are usually people who didn't go into banking for the right reasons - that's it.

PS: Just a little rant I made as summer comes to a close and after exploring different careers and talking to people of different professions. And yes, after that, I still want to go into finance.

 

Fun question: If bankers acted like linkedin nutjobs and insta hoes, what would their social media look like? What what would your post pictures and captions be, what what your linkedin posts be about? Monkeys wouldn't be able to stop talking about all the deals you're working on.

 

Quidem sequi nam nihil impedit similique et facere amet. Eaque iure dignissimos ipsa adipisci quis eligendi delectus molestias. Dignissimos magnam quia sunt porro provident ea sint maiores. Aut quia cupiditate perferendis maiores optio.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”