Will IB become better after COVID? Student trying to make a choice
Hey everyone,
I’m a CS/Econ double major at a target, and my original goal was to go into IB. But after hearing about everyone quitting, I’m not so sure anymore. If I were to do IB, it would be a few years before I started. Will everything be more “normal” then? It seems like WFH has made everything worse.
on the other hand, I could try and get a SWE job, but I’m already behind on internships and such. So I probably wouldn’t be able to get into FAANG.
does anybody have any advice or thoughts?
Short answer: No
Long answer: WFH may remain in some element, but demands must be met and work input will remain the same; probably just shift between home and office.
By better, for a learning experience and socially I'd agree, yes, you can work in "real-time" and do things more spontaneously. I for one, who recently got laid off and was afterwards searching for IB roles have come to the decision that it's a bad time to re-enter the industry.
If you are chasing innovation, interest, intelligence, this is not the industry for you (with some extreme exceptions like top PE / HF which 95% of the forum won't reach). If you chase money go ahead son.....
"bad time to re-enter the industry"
Would love to hear your thoughts on why this is the case
From my personal experience the glory days are over, especially here in Europe. The money, while relatively high compared to other industries does not justify the time commitment and social abuse. I hated the team I was in and the work was numbing, especially coming from a top 5 mathematics and physics university in Europe (but that was expected and only a small problem in the grand scheme of things). I feel like I've actually lost all the great skills and friends I had at university, and instead became an unfit, sleep deprived PowerPoint wizard. I understand the modelling element is interesting to some but it was literally 5% of my role. Obviously if you made it through and got a fancy investing role good for you, but I don't think this site makes it clear that the majority won't, and will probably hate IB in its current state. From my personal STEM perspective and with my technical skillset, I would rather have pursued trading, startup, research or engineering. I am actually entering one of those roles in the near future. Apologies for the rant, if anything I am annoyed with my decision making and lack of research before entering the industry. I was just impressed by the paycheck and prestige....
Bump — similar situation
It will be "better" since there will be more of a sense of analyst camaraderie in the office, it'll be easier to ask people for help, and there will likely be less of that crushing sense of despair when you are working in a 400 sq. ft apartment 24/7. But there will be some trends from COVID-19 that will remain-I think there may be more zoom pitching and there seems to be more of a market appetite for hairy, difficult deals.
"after covid"
If you're in the US, I seriously think you'll have a few years before this is the case...
yeah, if you like wasting hours commuting and then wasting hours at the office waiting for comments instead of watching youtube videos at home in your PJs, then yeah, it will get better.
chances banks will allow WFH after COVID? I am doing my summer at a BB in NY and I live in HTX. I really don't want to move there for FT, but also don't want to join the O&G group.
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