Who Care's About Prestige?

So, I will acknowledge that I have limited experience in the industry, but after working 75+ hours this summer in a FO office role I don't understand why people care about prestige so much. I totally understand how people want to progress their career's by grinding it out a few years, but when you are sleep deprived, in much worse shape than school, and have limited free time I don't have how people care about the prestige of their firm. Especially since the average girl or person you meet doesn't know the difference between compliance or banking largely. Also, the average person has no idea what Lazard or any other kickass MM firms are despite how great of opportunities they are.

Anyone care to add their take.

 
Best Response

If you put in the time, then you want to get a reward. Analysts at no name boutiques (like me) and analysts at BB's are more or less doing similar work. However, I don't have the luxury of after 2 years having the prestige of a BB to help me get into bschool/MF PE etc. Being able to put it into perspective and realizing that prestige means nothing when you are binding pitchbooks at 4am, but it will mean something when you look for your next role in 2 years... That is what matters.

If you're going to do the work, why not set yourself up for the best exit opportunities?

 

Largely agree with what HairyHilary has said. Prestige opens doors, so important early on in your career. Less so later. In summary: Prestige never paid for a Ferrari

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

If people don't appreciate the prestige, then why bother talking to them?

You don't make a career in two years, snowflake, it takes several decades. Prestige at 22-24 sets you on a glidepath that will pay out 30 years down the road.

 

Unfortunately I care about prestige, but I think it's only because I'm not in any relevant position yet. 

Over the past month I've come to some harsh conclusions. If everyone has money, who am I pressing with it? If I don't care about people from my past, why am I trying to impress them?

 

All I see here is “care’s” and “career’s”

It hurts my eyes to read.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Especially the employers with the public personal profiles for their employees with prestige bio bragging. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Brace yourself - If you don't get it now, you never will. If you can’t take 75 + hour weeks for ONE summer, I don’t think you’re made for it/other careers that demand that level of commitment. It's about the game and the socio-economic status, knowing you are at the top, doing things that have real ramifications on a large scale in the world. Whatever it takes to achieve (within ethical boundaries, of course). If the price is more than you are willing to pay, then get out.

 

Non illo magnam voluptas sed rem. Suscipit ut sunt aut nesciunt. Illo tempora excepturi sint quam ut inventore temporibus. Molestiae omnis voluptatem perspiciatis nobis quia voluptatem. Repellendus ea ab ratione suscipit.

Voluptate necessitatibus inventore magnam ducimus ipsum eos nobis nobis. Nesciunt suscipit culpa sapiente ad dolore earum suscipit. Numquam saepe dolore sequi animi. Natus ut rerum sed et assumenda sint reprehenderit aut.

Et rerum magnam dolorum. Rem labore ut est quis voluptatem. Expedita eveniet aperiam eum. Sed sed soluta laboriosam delectus.

Ea ratione modi voluptatem repellat sint natus. Voluptatem non ratione nihil aut.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”