hey guys im assoc at a big 4
long story short i wanna get out of acct and move to more fin roles in UK (in US right now)
i've been applying here and there but no solid responses so far...and i feel utterly stupid...am i asking for too much? what are my chances at big IB? how can i improve my chances?
What's wrong with you. Go to Wall Street Oasis. Everything on this site is a meme. Go there to get some actual advice. BTW It's unlikely you'll be working in UK, easily US though.
I know wall street oasis but was wondering if i could hear some feedback on Veeky Forums as well
Can i ask why move go UK is unlikely? Brexit shitstorm has scared a lot people out of UK for example MD of JPMorgan recently, so i was thinking perhaps that chaos will drive demand for outside workers, minus some cutbacks due to that same uncertaintly of course
*Morgan Stanley, not JPMorgan
*Morgan Stanley
>wageslaving 4000-5000 hours a year for $25/hr
Just start a business. If you can get into IB, you probably have enough social skills to succeed on your own.
Perhapss someday when im wayyyyy older but for now i would like more experience in finance and working with others
I work in a support role for CIB for JPM
Think of the worst manager you've ever had in your Big 4 job and how he/she blamed you for all the problems and mistakes that ever happened while you were on the team, while also making you work 70+ hours per week
Now imagine that in CIB, but unlike the Big 4, you don't have a prayer of getting rotated out of your team because you're stuck with them for a year minimum until you decide you've had enough and gtfo, that's IB
The money is fucking great if you ignore calculating how much you make an hour and pretend you only work 40 hours per week, if that appeals to you then do IB
If you dont mind, can i ask you what got you in IB and whats making you stay?
I want to get in because i thought i would learn way more about complex transactipns and situations and get paid more for the crazy hours
Staying in big 4 for a few more years might give you a pretty big edge in your resume, give that a consideration. But with Finance employment I don't know jack shit.
So overall i think the time at IB will be worth more in long run than at big 4 especially im still early in my career
Good point but apprently a few recruiters disagree, saying that doing things for too long can actually dimish the perception of your ability to learn new things quick as opposed to a blank canvas i.e earlier movers
I think the general rule I know of is 2-5 years. This would be pretty ideal for an Accountant, but you might want to do some more research if you want to move over to Finance. Good thing though is from a few people I've talked to, its easier to go from Accounting to Finance, rather than Finance to Accounting.
I got into IB to make money and because I thought it would look good on my resume, like I said, I'm not an actual investment banker, but putting JPM CIB does catch recruiters attention
I won't be staying much longer, I'll take the slight pay cut and become a bank auditor, yeah I'll have 1 or 2 long work weeks occasionally, but the stress of being in IB is too much when no one has your back and you're out there alone with your manager hating you and with everyone else looking to slit your throat when they get the chance to
I thought I wanted that life, but I don't anymore
Will do, thank you for the tips. I sure do hope the move to finance is easier like your acquaintances have said
Shit that sounds pretty bad...i just hope it's not the same everywhere because i was looking at some supprt roles like risk control and reserach
I hope you mean external bank auditor by bank auditor. internal audit can get pretty shitty because you can get internal hated from your own people and your manager might not give a shit (i.e view it as routine checklist not actual work) Anyways hope you get the job you like and be happier.
no one stays in IB for the long haul - only ppl who do are the MBA retards, extremely risk-averse, and/or those who couldn't jump to the buy-side.
the path is: do IB for a year minimum as an analyst and get paid at least 100k --> move to a hedge fund/PE firm/corp dev/literally anything you want (tons of options) --> set for life.
it's a shit job with shit people in general, but it's well worth the pain for a year or two and leads to a resume that people will kill for. the smart analysts get their experience and quickly jump ship to something better. again, for most people it's not intended to be a serious long-term career path
Dont see how people could think people stay in IB for the long haul. Theirs a reason why the big firms always have interns. New talent some probably are talented but most are probably just replacements for someone who quit or is moving to PE.
I have a brother in IB (OP Pic Related)
He is a recent graduate, he basically said he is going to leave after a year of it because it is so stressful. This is coming from one of those super smart and hardworking kids that are good at everything (1st in a state sport and highest possible score for high school).
He makes bank, but, he is making like 'ehh' pay per hour.
I have a mate who is research with Deutsche, and another friend who is a partner (auditor) with Deloitte. The impression I get is that both fields are cut throat as fuck honestly.
JPM assoc. here, I don't know a single analyst within IB that makes anything lose to 100k. Stop talking shit.
Can confirm, I only make 70K in salary, my VPs make over 100K
OP here, good for you guys..i will be so happy with even with 65k~
Yeah 70K in a low COLA area while at the age of 24 while most of my former classmates in Big 4 are making mid-high 40s in other low COLA areas and high 50s in NYC isn't too bad, obviously I could be doing better, but I had average grades and didn't go to a target school
Shit good for you, wish i went for the same and majored in more quant subjects like finance/math/comp science
How was your job hunting process? Was it harder because you were at nontarget school? Were interviews tough with technical Qs? Honestly not sure how high the expectations are