Things you wish you knew when starting out in IB
Hello All-
I am starting next week my summer analyst stint with a Bulge Bracket in NYC. NYC is a new city to me, and I have been here for a few days to adjust. I am posting this asking any analyst, associate, or anyone in general for advice that they wish they knew when they were in my shoes. Some questions I have: What is the best way to budget your new finances? How do you adjust to the strenuous work week? Are their any office expectations to know beforehand? How the hell do I make friends in this new city? What is the most satisfying part of the job I'm not concerned with my technical abilities- just my ability to adjust to this new lifestyle.
Any input whatsoever is granted- even funny things. Thanks everyone!
Hope you don’t experience this but there are times when you work for a horrid senior analyst/associate that will publicly attempt to make you look bad or throw you under the bus for illogical reasons.
While to a certain extent you “suck it up” for the first few months. After that, you need to be able to politely but forcefully pushback otherwise its easy to become their punching bag (don’t expect seniors to defend you).
Well said. That’s like half of my team. Fucking jerks
This. I’ve seen a fair share of new analysts/associates suffer mentally because they don’t learn how to eventually tell someone they work with regularly to pound sand when it’s needed. People only begin to respect you when you show them you respect yourself.
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Learn how to use properly google
Expect to stay up late
1) best way to budget your new finances - as a summer, just make sure you're able to pay rent and don't bother trying to impress people by going out to the nice spots as that'll be a drain on your account real quick
2) How to adjust to your strenuous work week - nothing much you can do to prepare for this but just take all the shit with a smile and you'll honestly get used to the hours after a few days. Not ideal but it is what it is and you've got to adapt
3) Office expectations - each office has its own dynamics but you'll be best served remembering that IB is super hierarchal so make sure you adhere to that the best you can. Feel it out during your first couple weeks and adjust accordingly.
4) Friends in new city - honestly this is tough unless you know people. Go out with your roommates and meet their friends. Go to a bar and chat up groups if you're comfortable doing so. Hang out with fellow interns. The city can be lonely forsure so make every effort to meet and socialize even if it's beyond your comfort zone. It'll only behoove you going forward
5) Most satisfying part is too subjective. You've made it to where you want to be. For me that was enough and I was happy taking shit for it. For some it's different and you may get off on telling people what you do. Everyone is different but certainly make sure you are happy internally as it's critical to your mental health.
There’s a different set of tips for starting out and for being an employee/ once you’ve done the job for 6 months. For starting out I think I’d stress the below:
You can’t be friends with your work colleagues? Jesus, man! Show me who hurt you?
I am not saying banking it’s a sorority where you try to like each other, or at least fake like you like everyone but you can absolutely make good friends in banking.
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I have ex colleagues who I am friends with, i.e. you become friends after working together, I also have friends in alternate groups who I was friends with during my stint. But no—you can’t be friends with work colleagues, it’s a truth of the working world in finance. You can be friendly and still have great conversations with people, but they aren’t truly your friend until you don’t have conflicting interests and you interact with them post work.
Edit: I will die on this hill—the people monkey shitting just haven’t been in the industry long enough, the advice I’m giving isn’t jaded, it’s pretty understood by older individuals and something younger kids learn over time.
Lmfao ok 1st year analyst.
Rather naive. Ye you may develop good relations with some, but friendships rarely.
Do you have experience with people you were friends with in college who are in you bank/group?
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