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Investment banking and finance field? - Page 2

post #16 of 18
Quote:
Originally Posted by vc2000
That is why they high all those new graduates - to abuse them and then toss them out for a new crop.

That's a harsh statement. Being in the field and supervising young graduates (analysts and associates), I can tell you that is not why we hire people. It is true that the hours can sometimes be very difficult, but that's only because our clients require quick turnaround in advisory or capital-raising transactions. Wall St lawyers have similar experiences and that's unfortunately part of the job. Fortunately, we (and others like you) do a pretty good job at warning young graduates that although it's an extremely exciting and rewarding job, it generally requires a tremendous time commitment.
post #17 of 18
Quote:
Originally Posted by gdl203
That's a harsh statement. Being in the field and supervising young graduates (analysts and associates), I can tell you that is not why we hire people. It is true that the hours can sometimes be very difficult, but that's only because our clients require quick turnaround in advisory or capital-raising transactions. Wall St lawyers have similar experiences and that's unfortunately part of the job. Fortunately, we (and others like you) do a pretty good job at warning young graduates that although it's an extremely exciting and rewarding job, it generally requires a tremendous time commitment.

Touche My verbage was perhaps too strong. Regrets if I offended.

I would just comment that if you don't at least like the field it will feel something similar to .... The large paycheck won't compensate for the consumption of your entire life. You have to get something more out of the experience. I did the law firm route, I enjoyed while I did it but it was all encompassing. I remember when I did the interview they proudly told me the copy/printing center was open 24/7. Guess who drove that center? I remember them asking what cereal I liked and it being on the shelf the next day. Eating all my meals at my desk in the office. Working until 6AM going home for a shower and returning for a 9AM conference... The dry cleaning was deliveried to the office as was my mail. A break on Saturday night was taking half an hour to pay my bills. I couldn't keep a plant alive let alone a relationship. I lived the billable hours life.

No the experience can be good. It just requires a lot of trade offs. I thought when I went into it I knew was I was getting into but I didn't. For me the upside was that I saved a lot of $ which allowed me to start my own business when I left. I also had a tremendous amount of experience which I applied to my business.

I'm not a person to regret much in life. Not something I reflect upon much but I certainly didn't have an active social life during those days. It might have been fun but it wasn't to be.

Today I probably work as many hours when I am on the road and maybe 12-14 hours when I am in the office. Both seems like cake walks to those first days. I have learned to delegate and pace myself. Plus I am in control of what I do so if I don't like something I let somebody else do it. And finally I see all the profit from my work.

Best of luck to you in the i banking field and the new grads. I'm probably just a grumpy old man. It has rained here for three days on my vacation.
post #18 of 18
No offense taken. I agree it is a trade-off. Some consider the skills and work ethics learned in their Wall St years as a great foundation for their career, some may view it as wasted years. I agree with many of your points and would also urge any young graduate to speak with people in the industry and understand fully what lifestyle changes are associated with the job.
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