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Investment Banking Discussion Thread

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

  1. Khayembii Communique

    Khayembii Communique Senior member

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    Great thread! I'm looking for more in depth information on Investment Banking, specifically day-in-the-life type of stuff. I'm considering contacting some IB's around my area to get more info.

    Anyways, I have a BS in Engineering and Economics from a mediocre school with a mediocre cumulative GPA (though my Econ GPA is higher). I was considering pursuing an MBA at a reputable institution (see my thread on Kellogg's 1-year MBA). Would having such an MBA allow me to move into such a position or would not having a Finance undergrad, particularly from a well-known school, be a big stumbling block?
     
  2. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    No need for a finance undergrad if you get an MBA with a good finance program and if you expend a lot of efforts in doing well in finance & accounting, and in preparing for IB recruiting (understanding, networking, interviewing, etc...).
     
    Last edited: Aug 22, 2012
  3. Khayembii Communique

    Khayembii Communique Senior member

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    Might not be relevant to this thread but after getting an MBA what kind of positions would be most readily available and would would income prospects look like? How long would it take to move into a field like IB upon graduating and how tough is it to get into?
     
  4. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    You need to do a little bit more homework on the topic - there's guides to read etc... but in a nutshell, banks recruit on campus at business schools for associate positions, generally either for the investment banking program (corporate finance) or sales & trading (more often sales and research than trading). Entry level salaries are available on the web. There are also middle and back office positions for which some banks recruit on campus.
     
  5. Harbin

    Harbin Senior member

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    you would be placed directly into an associate position, and many mba students have a summer associate internship before getting a FT offer. You would make typical associate salary, probably like 150-200k depending on bonuses, dealflow, and if bb/mm/boutique etc
     
  6. indesertum

    indesertum Senior member

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    Either
     
  7. gettoasty

    gettoasty Senior member

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    i think you should add a disclosure so it's clear that salary is not across the board and only a privileged few (top 10 students?) are offered that type of pay from a MBA program (top 5)
     
  8. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    No that's not correct. You're stating that about 50 students get typical IB associate offers across the country. The reality is probably 10 fold. A typical IB has an incoming class of 20 to 50 new associates a year.
     
  9. huskyzealot

    huskyzealot Senior member

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    i am not sure if the figures you mention are in reference to just a base salary, or to all-in compensation, but i think either way they are off (too high for base only, too low for all-in).
     
  10. Harbin

    Harbin Senior member

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    They include bonus. base salary would be around 100k, and bonus 50-100k.
     
  11. newinny

    newinny Senior member

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    First year bonus is a stub of 20 to 40k with no salary bump until year two. Bonuses are paid in spring.

    Following year (basically after a year and a half) salary bumps up 20 - 40k and bonus is 70 - 100k.

    Most bonuses are at least 25% stock that pays out over five years.

    Recent and rough estimates.
     
  12. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    So this is what happens when you get into this field for the money (or worse, prestige lol) : you're so miserable that you want to tell the world how miserable you were...

    A lot of this is true (minus all the hyperbole of course) by the way. This is an awful job if you have no interest in what you're doing - because you're doing it all the time, all day long, every day of the week.
     
    Last edited: Sep 18, 2012
  13. indesertum

    indesertum Senior member

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    If not money why did you go into banking? No troll
     
  14. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    ya you're trolling. You cannot think of any additional reasons to choose a career ?
     
    Last edited: Sep 18, 2012
  15. indesertum

    indesertum Senior member

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    I'm not saying there's no other reason. I'm asking you for what reason you went into banking
     
  16. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    For the same reasons most people choose a career: an intersection of general interest for the job, skill matching and opportunities.
     
  17. gomestar

    gomestar Senior member

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    i'm reading a big report on M&A in the wine world. The deal volume is a bit more robust that I expected, though it's still far from the general consumer beverage industry's volume.
     
  18. gdl203

    gdl203 Senior member Dubiously Honored Affiliate Vendor

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    I don't know anything about it but I'd think that winery M&A must require a crazy amount of due diligence to even get to price discovery if there are large reserves. I'm sure there's a ton of social issues too.
     
  19. gomestar

    gomestar Senior member

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    it'd really hard to find information on some of these deals. In 2009, Vincraft acquired Kosta Browne, a relatively small but prestigious producer, for around $40 MM, but terms of the deal and how they reached their valuation weren't disclosed. Bummer.
     
  20. Khayembii Communique

    Khayembii Communique Senior member

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    What are the chances of being able to move into IB from Asset/Wealth Management Analyst?
     

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