As I am networking hardcore this holiday season to land a decent internship, I often try to step back and ask myself, "______, what do you want to do, and why do you want to do it?" I hear this is a pretty big issue as well for interviewers, they always ask why (IB,S&T,PT,PE,HF etc..)? Obviously a decent amount of finance hopefuls go into this field because of the money. But at what point are we forced to step back and ask ourselves, what is next, what is the end goal? Do you want to have so much money to where you do not have to be motivated by it? Do you want to live the 'models & bottles' lifestyle? What is/was your end goal coming in?
Personally, when I was in high school, I always admired a teacher whose class I could step in to, have fun and still learn. These kind of teachers influenced me tons, and I would love the opportunity to positively influence students the same way. This has always kind of put being a teacher into my head, for I feel as if I could be that teacher. However, making 30,000 a year is hard to justify to myself especially when teachers have to deal with kids like me on a daily basis.
So my goal going in, is to 'do what I have to do, so I can do what I want to do.' Not that I have to do finance by any means, because I do enjoy it, but I would like to be able to have made enough money in finance, to then have the ability to take a big pay cut and still support my family, but also to do what I want to do, teach high school economics.
What about you guys?
Probably the worst rendition possible:
I want to be the very best, Like no one ever was. To foresee the future is my real test, To trade it is my cause.
I will travel across the land, Searching far and wide. Teach EM central bankers to understand The power that's inside
MacroArb, (gotta trade them all) its just me and me I know its my destiny Currencies and rates, oh, you're my best friends In a world we must bankrupt
I'm in consulting and I know this question is for people in finance, but I'm still going to take a stab at this because I have been thinking the exact same thing over the past few months.
I got into consulting because I had no clue what I wanted to do in my final year at university and all the smart kids were applying for consulting. So, being the risk-averse person that I am (typical of consultants), I aimed for consulting. It was like business school after business school; allowed me to keep all doors open while giving me time to think about what I really want to do in life.
I'm about 2 years in, and truth is, I still haven't figured out what I want to do. But one thing I have figured out is what I do NOT want to do; I don't want to stay in consulting.
What tangible skills do you think you developed coming out of consulting?
Assuming management consulting.
Be happy and have the opportunity to be spontaneous when I want.
I always said my goal was to have a job in which I learned constantly (every deal is unique and thus a special learning opportunity, etc.) and in which I could interact extensively with clients, helping them with their strategic business opportunities.... both of which i-banking fits. Always seemed to go over well, maybe also because minus the fluffy wording, it's a quite genuine sentiment.
How did you convince the interviewer of your interest in finance? (Originally Posted: 09/18/2007)
especially if your background is science / engineering with no previous finance experience.
I took an unpaid internship at a boutique as well as spent significant time with finance text books and valuation books purchased on my own dime. If it is too late for you to take an internship (during the school year works), then perhaps just study up and ace any technical questions that come your way.
The truth is, without any experience or any show that you've taken the iniative to learn finance, I'd ask you how you really know you're interested? Like most things in life, the idea of it is a lot more glamorous than the actual practice.
Please don't tell during your IBD interviews you want to do it because you "love" finance. If you really are into finance, go join some quant division. IBD is about simple arithmetic operations enhanced by fancy pitching.
To eat candy and poop diamonds. I'm halfway there.
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