Investment Banking Discussion Thread

Discussion in 'Business, Careers & Education' started by jslade, Mar 9, 2012.

  1. gomestar

    gomestar Super Yelper

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    Banks recruit directly from MBA programs. I can't think of anything similar for a CFA, one would have to network their way in to an offer.

    The Summer Associate programs that recruit MBA's seem to be really key to getting offers, and obviously one cannot do this with solely a CFA.
     
    Last edited: Apr 30, 2012
  2. gettoasty

    gettoasty Senior member

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    It seems then CFA maybe better suited for boutiques from what I know, or insurance companies lol
     
  3. kasper007

    kasper007 Senior member

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    if you want to do real investment banking, the CFA is completely useless, the M&A group at my old bank actually aggressively discouraged analysts to study for it (ie. you had to do it in secret). I did level one right after i finished my undergrad and had planned to continue, but decided against it once i saw i wouldn't bring me any benefits. The thought thing with banking is not necessarily to have the qualifications (which a lot of folks have), but more how to get a foot in the door. and a vast majority of iBankers have been hired out of undergrad or MBA

    If you want to do equity research though, it's almost a requirement nowadays.
     
  4. Harbin

    Harbin Senior member

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    any bankers working/interning in new york this summer? would love to meet you guys
     
  5. gettoasty

    gettoasty Senior member

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    Appreciate the feedback

    Grad school is not feasible at the moment and CFA seems more reachable.
    Not sure where to go from here beside racking up experience points and building a better foundation in PWM
     
  6. kasper007

    kasper007 Senior member

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    received a giant tombstone today for a deal we closed last summer. designing tombstones and finding project names were by far the 2 most fun tasks to do in IB ;)
     
  7. gdl203

    gdl203 Affiliate Vendor Dubiously Honored Affiliate Vendor

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    Obnoxious tone aside, this is all quite close to the truth. Yet, I often wish I could go back to my associate years.
     
  8. pseudonym

    pseudonym Senior member

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    It sucks trying to get into IB when the only summer offer you have is a BO internship.
     
  9. gomestar

    gomestar Super Yelper

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    how come?
     
  10. gdl203

    gdl203 Affiliate Vendor Dubiously Honored Affiliate Vendor

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    It's low stress, you know exactly what to do to succeed, everything is simple and straightforward, just have to work hard. No luck, and nearly no politics involved. In a word, you're in control of your success far more than later in the career. Things get a lot more stressful after a few years.
     
  11. gomestar

    gomestar Super Yelper

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    makes total sense, and I've heard this from a few people.
     
  12. leftover_salmon

    leftover_salmon Senior member

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    I'm heading into my 3rd year in banking at a top 5 firm and am desperately trying to get out. I really enjoy the analytical part of finance but I hate serving clients. I'm trying to move over to the buyside because I find it boring to just pitch stuff to clients, most of whom won't follow through or will just pick another back with which they have a better relationship. In the end, the work I do right now feels so disconnected from the end result - I want to take risk and have my work matter.
     
  13. gdl203

    gdl203 Affiliate Vendor Dubiously Honored Affiliate Vendor

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    A couple of graphs to illustrate why people are less excited about careers in IB than ever. Add to that the demonization by OWS, populist politics, etc... and I think the formula yields pretty low interest for bright candidates. Which, of course, creates opportunities for the less bright ones - something of a downward spiral for the sector as a whole.

    London financial services jobs

    [​IMG]


    Bonuses

    [​IMG]


    PS: I know, this is is for London - I happen to come across those graphs but I'm sure one can find similar trends for Wall St.
     
    Last edited: May 14, 2012
  14. Pennglock

    Pennglock Senior member

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    I think the latest crop of Associates need their heads examined. Why would anyone with options want to get on the banking career-track right now? Im predicting some serious attrition among our Associates/VPs as they realize it's just not going to be worth it anymore. If I weren't on the cusp of a promotion I would have said fuck it after last year.
     
  15. the shah

    the shah Persian Bro #2 and enabler-in-chief

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    true, it's gonna be a grand hustle now. traders can milk it, but M&A and leverage finance are taking hits

    but in any case, this is the climate in which the real traders make big bucks. and jp morgan is eating dirt, other banks are out for revenge and these clowns are finding it impossible to unwind their bad trades.
     

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