Which would you rather be? A US Senator or an MD?

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Rank: Orangutan | 293

Which would you rather be? A US Senator or an MD in <span class='keyword_link'><a href="/finance-dictionary/what-is-investment-banking-division-IBD"><abbr title="investment banking division

">IBD at a BB?
How about other political appointments like Congressman, Governor, or Mayor (e.g. of NYC)?

Comments (23)

Jun 25, 2010

MD

Jun 25, 2010

Totally agree with the san francisco treat....congress is the lowest common denominator.

Jun 25, 2010

what type of response are you trying to get? what do you think people on this board are going to say????

Jun 25, 2010

how about US Senator-ad-infinitem (you stay in office for as long as you like)

its a classic question of money vs. power.
as an MD you are a salesman trying to get deals done. you have no power other than within that division in your own firm. you're a wall-street stiff who's just another cog in the systerm (albeit a very well paid cog). (note that MD-level money in and of itself does not bring you power.)

Jun 26, 2010

Do I even need to say?

Jun 26, 2010

Sen

Jun 26, 2010

md, no question
you have money
and you have power (by using your money and connections)
you donthave to fuck with being the puppet yourself

Jun 26, 2010

neither. Md's are bitches to their clients, their bosses, and their government leaders.
Senators/mayors etc, are bitches to their constituents and their donors

Find me a job where I'm not a bitch to someone else.

Power over money anyday.

Though you could argue that money is power (literally, since money is a debt someone in society owes you, thus you can use that money to get people to do what you want, which is power)

Jun 26, 2010
<span class=keyword_link><a href=//www.wallstreetoasis.com/finance-dictionary/what-is... rel=nofollow>LIBOR</a></span>:

neither. Md's are bitches to their clients, their bosses, and their government leaders.
Senators/mayors etc, are bitches to their constituents and their donors

Find me a job where I'm not a bitch to someone else.

Power over money anyday.

Though you could argue that money is power (literally, since money is a debt someone in society owes you, thus you can use that money to get people to do what you want, which is power)

Well duh, I'd rather be a partner at some baller ass PE firm, but that isn't within the parameters of the situation.
So you can't say that.

"If you can count your money, you don't have a billion dollars." - J. Paul Getty

Jun 28, 2010
San Franciscan:
<span class=keyword_link><a href=//www.wallstreetoasis.com/finance-dictionary/what-is... rel=nofollow>LIBOR</a></span>:

neither. Md's are bitches to their clients, their bosses, and their government leaders.
Senators/mayors etc, are bitches to their constituents and their donors

Find me a job where I'm not a bitch to someone else.

Power over money anyday.

Though you could argue that money is power (literally, since money is a debt someone in society owes you, thus you can use that money to get people to do what you want, which is power)

Well duh, I'd rather be a partner at some baller ass PE firm, but that isn't within the parameters of the situation.
So you can't say that.

Fuck parameters. I live outside the box.

Jun 26, 2010

Incumbent Senators are a bitch to get rid of. Unless you are a complete fuck up you can milk that position forever. Being a Senator would only be maddening if you were actually trying to get something done with (I personally think all they do is shuffle papers and collect money). MD's have way more stress and a dip shit govt employee.

You can influence power with money, but having the power in the first place is whats important.

Jun 26, 2010

just some thoughts:

MDs do not have power because of money. A $1M/year does not allow you to cut the proverbial line or decide people's fates (unless you count using the super-premium line at the airport and screwing over some coach familyman)
Please tell me what special influence you expect to buy with your ($600k after-tax minus living "like a baller"= $150k/yr slush fund?) .....Go ahead and increase in 5x if it helps you answer.
And connections? You have no connections because you have only one thing to sell- banking/advisory skills of your firm-and you have to compete very hard to sell it. You have no leeway to play around with that because as an employee of a firm, special business opportunities (e.g. some hot IPO) have to be distributed to clients who have or (will bring in) the most business for the firm. Maybe you will hobknob with elite CEOs and Entrepernuers but to most of them you'll just be another salesman/advisor (e.g. after he brought his new Benz, is your dad BFFs with the guy at the dealership?)

Jun 26, 2010

first of all, if your brain really works the way your logic/diction was laid out above then good luck to you out there kid

for the average MD, that is true. however, if you were banking in a decent group at a BB you would know atleast one or two MDs, minimum, that have strong connections politically. i assumed we weren't talking about the average bottom rung MD here, for argument's sake, I assumed we were talking about power vs. money and assumed a top level MD for comparison (since as you pointed out a bottom rung MD isn't really making the level of money that i would consider equivalent to the power of a senator/top politician)

i'd personally take money over power... power is something people mis-characterize too often.

Jun 26, 2010

I plan on becoming Mayor of NYC. Better than president of the united states IMO.

Jun 27, 2010

first of all, if your brain really works the way your logic/diction was laid out above then good luck to you out there kid

Thanks for the good luck. Maybe this year I'll get promoted past Associate and you'll finally land your first job in the industry!

Seriously though, of course I'm talking about the "average" BB/IBD/MD. I don't think that needs to be explicitly said.

Jun 28, 2010

yeah, hopefully i land my first job in the industry, we'll see how it works out

Jun 28, 2010

MD for sure. Senator involves too much scrutiny, little real power and less money. If you're an average MD, you're not putting in 100 hour weeks and you are actually involved in the financial world where priorities are somewhat simpler.

Jun 28, 2010

I would probably go with senator then parlay the connections into a vc/pe scenario

Jun 29, 2010

can i be the whip?

Jun 29, 2010

Senator - The power, privileges, and tenure.

Jun 30, 2010
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Jun 30, 2010