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Clothing advice to a new investment banker - Page 5

post #61 of 64
dressing nice in banking is just a prereq, or does it actually add value like those numbskull HR people say??
post #62 of 64
If you are meeting people outside your department or want a raise or promotion, dressing well (according to expectations) is always a good idea. Many people perceive it as indicating doing a better job (the well-dressed worker is assumed to be smart and competent, for example), and if helps form or maintain connections, it provides tangible value.
post #63 of 64
post #64 of 64
Bringing this post back from the dead... You sound like me two years ago. I REALLY hope you didn't go overboard with your purchases like I did back then. I started as a banking analyst at Lehman two years ago and idiotically went crazy with my purchases. I think I spent about $1600 on Hugo Boss dress shirts (most of which I retired after less than a year), I bought 3 pairs of Ferragamo shoes at full retail, and I think I spend another $1200 on an assortment of designer ties (Ferragamo / Hermes).

The only place I went cheap was on suits and bought 4 Joseph Bank suits (another HUGE mistake). Now I obviously no longer work for Lehman and regret how much money I spent on that stuff. If I could do it all over again, here is what I would do:

Shoes: Buy Ferragamo or comparable shoes on ebay. I do this now and pay much less than half of retail and this is a much smarter choice IMO.

Ties: Buy Vineyard Vines or Andrew's ties. Andrew's ties are great quality, especially for their $40-$50 price point.

Shirt: I did an online MTM order and paid an average of $40/shirt and I hands down prefer these over any of the $160/shirt Hugo Boss in my wardrobe.

Suits: This is where I would actually spend the most as this is the bigger investment. I don't have great suggestions here except to look on ebay or the sales rack for quality designer. Please just do not go with Joseph Bank or similar low quality crap. You will regret it.

I am guessing that you already made your purchases, but maybe this can help someone out who is in a similar situation.

As one poster stated, save your money. In hindsight, I wish I would have.
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