What are the biggest lies on this forum being pushed around constantly?
For me it has to be the "Dude, people in sales easily clear $500k a year. Look into software or Pharma sales."
Anyways, what are some you notice?
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That Democrat politicans aren't all a bunch of crazy people.
heisterkamp
That there is only one path to get each job and if you didn’t do x, y, and z in order that it’s impossible to break in to ___ job. Sure, xyz might be the easiest way to break into whatever industry, but it’s not the only way, and it does readers a disservice by telling them they shouldn’t even try. Hustle, intelligence, and ingenuity are unfortunately underrated here.
This is probably the biggest one.
The problem is really more like when people say:
“Simply do x, y, z and you will get in.
Maybe doing x, y, z will work, but it’s not a sure thing. The only thing you can do is just try and see if it does, because you don’t have a lot to lose anyway.
Definitely this one
"X, Y, Z industry is dead..."
"Finance is the only way to make money, and you have to be somewhat miserable to do it."
Hours.
This lol. Have yet to meet anyone (even at Moelis) who actually averages 100+ hours a week. This would require you to average getting in at 9:30 and leaving at 2:30 Monday-Thursday, working 9:30a - 9:30p on Friday, putting in 6 hours on Saturday, and doing something like 11am - 1am on Sunday every single week. Have met a few guys where it seems like this is half their time in banking, but even then they have some 70 hour weeks thrown in.
This sounds unreal. I would be able to swing 9:30 to 2:30 Monday-Thursday, and maybe the 9:30a - 9:30p on Friday if I got Saturday to rest and recover, but the another 6 hours on Saturday? If anyone actually does this consistently, that's crazy.
The biggest lie on this forum is that if you don't go to a private boarding school for grades K-12, get into H/S/W for undergrad, do a freshman internship in consulting at MBB, and spend your entire college experience practicing case studies and LBO construction, you're a failure.
I know straight white male sophomores at non-target state schools who have gotten internships in bulge bracket investment banking and mega hedge funds. As long as you're not a complete dipshit and you're decent looking and socially personable, you'll do alright.
The biggest lie is that what you're saying is actually true.
Seriously, there are so many posts titled "HELP NON-TARGET 2.9 GPA NO INTERNSHIPS WHAT TO DO," thinking they can get into a BB bank and going to a non-target is their ADVANTAGE because they've read similar posts.
Let's face the numbers - investment banks don't hire that many people. There are large pools of people from HYP, and other top 25 schools who have worked harder and are smarter than the millions of other mediocre morons attending state schools. Yet even for Ivy League students, getting into an investment bank makes college applications seem like a cake-walk.
If you're a moron attending a party school with a 2.9 GPA, you won't get into IB. Face the facts and just focus on living the life you have.
Michigan10483 is the only reason why theaccountingmajor isn't the biggest incel and dumbass on this forum
....
Not exactly a lie being told but I'm tired of seeing people asking about automation. It's like: "Will this fairly complicated industry that requires managing relationships and face to face interactions be automated soon when cashiers and truck drivers are still not showing serious signs of automation?"
Chances are, by the time IB, Consulting, PE, Corp Fin or any job discussed on this forum disappear, not only will you be dead but also most jobs as we know today won't look anything like what they look like today.
If people are still becoming low-level bookkeepers at your nearest Big 4 then I'm sure your Wall St IB job is alright.
Well said. Not trying to be a dick-head but like either way I don't see the reason people worry about that before getting an offer on paper. Like why?
Automation is the biggest boogie man of this century. There's something about people. They're so attracted to this idea of creating something that in turn leads to our destruction. It's an archetype that is very closely bound to our psyche. You see it in pop culture, science, academia, etc. There's just very little merit to it. If anything, it's our stale education system that creates friction (not innovation).
If you have a 3.5 GPA and target school, you'll get a decent job. I have those stats and have barely gotten any interviews, using a popular resume template, although I have lackluster work experience.
it really depends on what you are trying to do.
a 3.5 GPA in basket weaving from Stanford vs a 3.5 in Computer Science will yield vastly different job prospects.
That any local hidden variable theory can produce the same predictions as quantum mechanics. Get your heads out of your asses and learn Bell's theorem, sheeple.
Piggy backing off of this, but also good advice when you go to a job interview. Have a discussion with the person interviewing you and ask questions based on what you talked about that day.
+SB, this is the part that too many people never understand.
Couldn't agree more. Well said.
This one is not really well-articulated statement but rather a prevailing idea on this forum: banking (or sometimes M&A) is on the top of the food chain of financial jobs. It's simply not true. Each job has its unique route of career, sometimes they overlap and sometimes they don't, and there is no saying in which one is better.
"Losing my mind as I'm approaching 30."
Please expand on this...
One lie that continually persists throughout this site is that it is impossible to get into IB from a non-target. I have heard many non-target success stories and am one myself. Is it harder to break through for non-targets? Yes, but it's not impossible. This site gives you so many resources that nowadays it's all about the commitment and dedication to landing that job at a BB instead of just the school you attend.
Definitely true, and also I feel like non-target's lack of representation is a lot of times just about a lack of knowledge of certain opportunities.. And not just about the Bains and BCGs of the world, but if I go through my school's career center, there are dozens and dozens of consulting jobs at decent firms with competitive salaries that mainly hire out of top schools, and that I'd imagine a lot of non-targets would have a shot at, but many will especially never hear of these types of opportunities.
theaccountingmajor has had sexual intercourse with a live adult human woman
Who would believe that?!
Why does it have to be alive, human, woman, or even an adult for that matter? Even Jeffrey Dahmer had to rub one out.
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