Investment Banking

StrangeWizard
StrangeWizard

Anyone trying to break into IB?
Tips?
Materials?
Talk about your position?
General Discussion

And if anyone has a Discord with similar discussion go ahead and drop it

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mega.nz/#F!DpAz2IgQ!nW7bPNnpJFk5CAV3ypiaHw
youtube.com/watch?v=dQw4w9WgXcQ

whereismyname
whereismyname

another IB wannabe baby feelsbadman

Supergrass
Supergrass

Its actually something ive invested myself into (faggot)

askme
askme

please tell me how you invested yourself into IB

Carnalpleasure
Carnalpleasure

Why is investment banking such a popular career? Don't you spend the first few years just kissing ass and working 80 hours a week for $40k?

Skullbone
Skullbone

140k in the us in the bulge bracket

80k in the uk

Emberfire
Emberfire

That depends, is it something that you would talk about? Or are you just here to shitpost

SniperGod
SniperGod

You aspie fucks can't even tell when someone else is interested in conversing with you. Jesus fucking christ.

TalkBomber
TalkBomber

how is this different from being a VC

SniperWish
SniperWish

yes lets talk about how you invested yourself into IB

TurtleCat
TurtleCat

pay 2K a month for rent
get taxed 35%

You'll save 50K a year max. Looool. Rather get an 80K/year job that doesn't require me to get an expensive apartment 2 minutes from work

VisualMaster
VisualMaster

Street salaries for first year analysts last year were about $70k with all-in comp coming to about $85k-$90k. Associates between $100k and $175k and everything above that just grows exponentially. Personally brought in over $300k last year. It's a constant culture of trying to be the smartest, toughest, most resourceful guy in the room. Looks matter a lot in this industry and so does how one carries themselves.

OP, I'll answer whatever questions you have but I can't talk about my firm or previous deal flow for obvious reasons.

DeathDog
DeathDog

Right, ive spent the last year gathering materials, networking, even found a mentor who has been guiding me through what i should know and do in order to best leverage my youth (in young) in order to maximizing my chance of breaking into IB. Im not sure i have to prove why im interested in it but im more than sure you assume i say american psycho and just thought it was hot shit. My resources are limited so ive done what i can, started up on LinkedIn, reading and outline the Rosenbaum & Pearl book, and studying other books relavent/on IB. Until my resources and network opens up, i figure the best thing i can do is look for people with valuable information who are willing to talk to me and help me reach my goals. Honestly

AwesomeTucker
AwesomeTucker

Thanks, first off i know the hours are grueling as an analyst, but can you specify on what an average week would look like?

New_Cliche
New_Cliche

What do you study?
Which college do you go to and what year are you?
What position is your mentor in?

In BB, it's usually 70k base and 70k bonus for first year analysts.
You've been there for few years then? Why didn't you exit to HF or PE?

Stupidasole
Stupidasole

Im talking about hours, sacrifices like a social life - how severe is it, how does it stack up to your current position ?

Spazyfool
Spazyfool

Im pretty young my friend, i dont see how what im doing is anything but beneficial to myself - but in short im not at a liberty to spew out personal shit on /biz. Ill definitely talk to you though, but im more here to gather info than to talk about myself

Supergrass
Supergrass

For an analyst? Get to work before 7am, usually eat lunch at your desk while you work, leave around 8pm and usually go to grab dinner/drinks with colleagues. You get better at the tasks assigned to you so work gets easier after a time. By your second year you'll be itching for a fucking promotion. You can't be a good associate until you can check analyst work quickly and effectively and in order to do that you have to had done so fucking much of it yourself that you can spot flaws with ease. The grind you've probably heard of is very real at BB/EB IBs but it's necessary and you'll look back on it with fondness.

Raving_Cute
Raving_Cute

In BB, It's usually 70k base and 70k bonus for first year analysts
Says fucking who? When I started at Barclays back in 2011 first year bonuses were around $40k on the street but these days? Not even close. Banks are preparing for financials to take a hit once the economy cools down and the current bull-run tapers off.

Also keep in mind that you earn your bonus. It is directly tied to the amount of value you add to the bank and first year analysts (or any analysts for that matter) don't really add any fucking value at all. No offense to any analysts reading this but all they really do is modeling, pitchbooks, spreadsheets, and get coffee. You want a $70k bonus for that?

Nude_Bikergirl
Nude_Bikergirl

What would be the most important thing to do during school to prepare yourself/maximizing your chance of breaking into a good BB/EB IB. Meaning internships, groups, habits, etc. Assume im a freshman and assume i know very little about IB

Harmless_Venom
Harmless_Venom

And is there any specific sites or anything i should be looking at to tune myself, besides obvious ones like dealbook/bloomberg/etc. places where i can find discussion? (Hence why i asked for discords in the post)

happy_sad
happy_sad

I'm sure you've grown tired of hearing this word but 'networking'. And I mean real networking not just sending your unwanted resume in an email to a guy who already got the job. I mean networking like make friends with guys at your school who show 'that' trait (you know guys who will be something and can help you later in life). Do the same with guys who already work in the industry that you know, just don't bring up work because nobody wants to talk about that shit outside of the office.

Other than that, sharpen your modeling skills, take some public speaking and psychology courses, and pick up a hobby that successfully distracts you from whatever you've got going on (that one is a life saver I promise you).

askme
askme

What would be your top 3 toughest challenges that you've had to overcome to get where you are right now, ill settle for one or two also if you dont want to write a novel

Methshot
Methshot

That's a good questions. I would say the hardest challenge that I overcame so far in my career was working for an MD at Barclays that absolutely fucking hated me. I always went over and beyond what was asked of me and made it a point to be social with the guy both in the office and off-campus. After a while, if you do big enough numbers then your numbers will speak for themselves.
Second toughest challenge? Learning to not pay attention to the shit that causes me stress and anxiety. I somewhat learned this during undergrad but nothing prepares you to handle big money except for rolling up your sleeves and fucking handling big money. You either learn to do your job effectively and mute out the bullshit or you lose your damn mind. Seen it both ways.
Third most difficult challenge that I've overcame thus far? Choosing what watch to wear to work when I wake up every morning. (that one is a recent issue lol)

Sharpcharm
Sharpcharm

Sorry for the typos, cocaine is a helluva drug.

Evilember
Evilember

Oh one more tough challenge; finding time to go to the fucking gym.

SniperGod
SniperGod

Hahaha im sure, thanks for the words i appreciation it. Would ask for a way to hit you up but im sure its not a fuck you could give, have a good night man thanks again

eGremlin
eGremlin

I'd help you if I could. Best of luck kid, it's not going to be easy but the benefits of making it are worth every goddamn bead of sweat you pour into it. Just a little bit of career advice for this field while I'm hear, every once in a while you need to decide on a number that you believe you're worth and if your current firm isn't hitting that target and won't reneg then it's time to pack up and call a headhunter.

StrangeWizard
StrangeWizard

Duly noted, thanks

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