Help, is IB a Career Worth Pursuing Out of College?

carli165's picture
Rank: Chimp | 8

I'm a 2nd-year Finance student at a top 30 Business School in the Twin Cities (Nothing close to Ivy-worthy). I'm near the point where I need to decide on a career path, does anyone have any advice on pursuing IB, Public Accounting at the Big 4, Consulting, or Corporate Finance? I need some career advice from any business professionals who would advise themselves on a career path when they were 19-20 yo.

Thank you, any help is so very much appreciated.

Comments (18)

Aug 4, 2018

It is obviously a better option than big 4 accounting

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Aug 4, 2018

Can you elaborate on that? Is it simply because of the compensation of roughly $30/hour and career opportunities? I'm truly curious if the insane amount of hours and lifestyle chaos is worth the pursuit...

Aug 4, 2018

IB is a huge grind to get into especially from a non-target. Pay is nice but I don't think anyone is sitting there at 3am saying "gee whiz, at least I make six figures formatting power points". Opens a lot of doors career-wise and generally only a 2-year commitment.

Big 4 accounting is popular at my school, lifestyle is better than IB and they all compete with each other to be the best place to work. You won't make six figures until at least 5-7 years out of college. Career options are more limited than IB but you can do financial analysis type roles forever.

I don't know much about consulting or corp finance. If you have time this summer or fall you might benefit from calling some school alumni in each role to get their thoughts on what direction you want to go in.

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Aug 4, 2018

The thing with IB is that most people do it for the Exit opportunities. The same is true with BIG 4 accounting. During tax season you work a lot, sometime comparable to IB with less pay, but having BIG 4 in your resume give you exit opportunity. Corporate Finance is a little like IB, more flexible but less exit opportunities, consulting is good, the entry level harder, you work a lot of hours but less than IB. So to answer the question yes IB is a career worth pursuing out of college, (I assume by career you mean staying in the bank and reaching MD level.)

    • 1
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Aug 4, 2018

nothing new here...

Aug 4, 2018
esbanker:

nothing new here...

you read my mind

Aug 4, 2018

nice graphics though.

Aug 4, 2018

This is similar to what bankerella posted. Interesting.

Aug 4, 2018

This is similar to what bankerella posted. Interesting.

Aug 4, 2018

hm MD 20+ mil huh, which bank do I need to join to make Llyod money as just an MD/Partner.

Aug 4, 2018

Only thing that stood out to me is 25% of Associates exiting to PE (only 1% lower than Analysts). That doesn't seem right from reading here, but I thought I'd point it out

Aug 4, 2018

Well done, thanks!
The average work week graph still makes me kind of depressed..

Aug 4, 2018

Umm only 1% of bankers ever making it to MD? I think Bankeralla's data had 33% of Associates making it to MD (and if we assume, say, 33% of Analysts make it to Associate, that means 11% of Analysts end up as MDs, or 1 in 9......and that's not counting Analysts who go get an MBA and later return to banking as associates)

Aug 4, 2018

Firmex test

Aug 4, 2018

The obvious answer is that it really depends on what you enjoy and what your futre goals are (i.e. exit opps). If you want to work in IB what would be the benefit of working in PWM or S&T even if the job was at a more elite place? If you wanted to be a college basketball player would you play hockey in high school?

Aug 4, 2018
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