sutogame Posted February 3 Report Share Posted February 3 ARE THERE ANY INVESTMENT BANKERS on the board----can you give me some brief job descriptions,pay,work and is it worth it.thanx alot TVD Quote Link to comment Share on other sites More sharing options...
o-jay® Posted February 3 Report Share Posted February 3 Originally posted by sutogame ARE THERE ANY INVESTMENT BANKERS on the board----can you give me some brief job descriptions,pay,work and is it worth it.thanx alot TVD Not an investment banker but work with them. Hours are brutal. Can work up to 100 hours a week for months at a time.Profession for the young folks. The I-Bankers burn out early. Pay can be fantastic. Banker could potentially be making over a million bucks a year within five years. Most of that comes in bonus form though. The Bank is not required to pay bonuses though.Job security? Nonexistent in this economy. The big Banks are axing Bankers left and right. No one is hiring I-Bankers right now, unless you're coming from Harvard Business School or UPenn etc.Bottom line, don't bother, the amount of time and life you sacrifice isn't worth the cash. If you do bother, you better sure as hell be going to an Ivy League B-school and are at the top of your class. Otherwise, fuggetaboutit.-Juice Quote Link to comment Share on other sites More sharing options...
PinkFloyd40 Posted February 3 Report Share Posted February 3 Originally posted by sutogame ARE THERE ANY INVESTMENT BANKERS on the board----can you give me some brief job descriptions,pay,work and is it worth it.thanx alot TVD i'm trying to get into IB hopefully..100-120 hour weeks not uncommon.. great pay.. if you want to go top tier(cfsb, goldman, jp morgan etc.) dont' even bother unless you have a 3.7+ in a great school, or unless you go to the top ivy leagues.. its ridiculously competitive.. Quote Link to comment Share on other sites More sharing options...
breakbeatz2 Posted February 3 Report Share Posted February 3 i tihnk the 120 hours are a bit over exaggereated there are only 168 hours in a weeki work in merril right now, and the hours are kinda absurd. dont exactly know if thats my thing, but it can be a lucrative profession Quote Link to comment Share on other sites More sharing options...
PinkFloyd40 Posted February 3 Report Share Posted February 3 Originally posted by breakbeatz2 i tihnk the 120 hours are a bit over exaggereated there are only 168 hours in a weeki work in merril right now, and the hours are kinda absurd. dont exactly know if thats my thing, but it can be a lucrative profession no, actually, its not..when something big goes down.. or a client needs an opinion letter, you will be working all nite if necessary.. Quote Link to comment Share on other sites More sharing options...
o-jay® Posted February 3 Report Share Posted February 3 Originally posted by PFloyd40 no, actually, its not..when something big goes down.. or a client needs an opinion letter, you will be working all nite if necessary.. Yeah 120 hours is not unheard of. And that would suck.-Juice Quote Link to comment Share on other sites More sharing options...
PinkFloyd40 Posted February 3 Report Share Posted February 3 Originally posted by o-jay® Yeah 120 hours is not unheard of. And that would suck.-Juice shit bro, i only just noticed your sn now and the picture...hahahahahaha that shit is hilarious Quote Link to comment Share on other sites More sharing options...
o-jay® Posted February 3 Report Share Posted February 3 Originally posted by PFloyd40 shit bro, i only just noticed your sn now and the picture...hahahahahaha that shit is hilarious Quote Link to comment Share on other sites More sharing options...
nrgy112 Posted February 3 Report Share Posted February 3 my friend works at goldman-sachs as invest banker, gets to work at 9 in the morning and leaves no early than 11 at night and gets paid 50,000 a year. We figured it out, he makes a little less than 12 dollars an hour., and works hard, he calls me at like 12:30 coming home on the train it's scary. Quote Link to comment Share on other sites More sharing options...
nycchic24 Posted February 3 Report Share Posted February 3 Originally posted by PFloyd40 i'm trying to get into IB hopefully..100-120 hour weeks not uncommon.. great pay.. if you want to go top tier(cfsb, goldman, jp morgan etc.) dont' even bother unless you have a 3.7+ in a great school, or unless you go to the top ivy leagues.. its ridiculously competitive.. yes my sister was hired in ibanking at JPmorgan/Chase. she graduated from Dartmouth, cum laude last year. She also interned with them in springsummer and was offered a position after it concluded. and was offered a position with Lehman Bros and Goldman Sachs, as well. She was going to start this year, but bc of the "market" they offered her a deferrment which means she just doesn't start until this June (instead of last sept). she defnitely made out in the deal thought bc she got to keep her signing bonus, and then an add'l $25K to go home (the deferrment package) and she got ajob teaching in the HS for the mean time! only my sister would have such luck. A lot of her friends that were first and second year associates all got the axe. The reason she didnt was bc if they fired their recruits w/o officially working then the colleges would ban the company from on campus recruiting.... and yes it is mad hours... even when she was interning it was not uncommon for her to work 7am to 11pm and work on weekends too! so not for me. but hey to each their own. hope this helps -- good luck! Quote Link to comment Share on other sites More sharing options...
o-jay® Posted February 4 Report Share Posted February 4 Originally posted by nrgy112 my friend works at goldman-sachs as invest banker, gets to work at 9 in the morning and leaves no early than 11 at night and gets paid 50,000 a year. We figured it out, he makes a little less than 12 dollars an hour., and works hard, he calls me at like 12:30 coming home on the train it's scary. Your friend is not an investment banker. He is probably an analyst. Bankers get a base salary of at least 80k-110k depending on the Bank. Analysts can work just as many hours though, especially at Goldman. Half the pay, and just as much work, now that really blows.-Juice Quote Link to comment Share on other sites More sharing options...
djjonmartin Posted February 4 Report Share Posted February 4 I used to do HR for an IB ... all the stories above are accurate. If you're all about money, greed, and back-stabbing anyone to get ahead, you can make a lot of money - as long as you make the bank a lot MORE money. I would NEVER recommend it - the longer you're in the game, the more you depend on it, unless you specifically went in for 5 years or so to make some quick dough and start your own surf shop or something. The bankers who've been around more than 5-10 years are the nastiest, bitterest, most discontented people I've ever known, and they make huge fortunes but NEVER get to enjoy it, and have NO LIVES.Then they get pushed out because they're too old and they die bitter, wrinkled, nasty and alone (since they spent all their time making money instead of friends). Better to marry an Investment Banker - you never have to see them and you've got all the time in the world to spend their money. lol. Quote Link to comment Share on other sites More sharing options...
bigpoppanils Posted February 4 Report Share Posted February 4 you dont have to go to the top schools to be in IBand not all the IB's are greedy, unsociable bastards eitherit also depends on the companyi'm not denying that it doesnt have long hours and that it inst stressful, but it isnt as bleak as its being described Quote Link to comment Share on other sites More sharing options...
tribal Posted February 4 Report Share Posted February 4 not an IB but work with these guys at bank of america and used to work for GSachs. basically its a hell job that pays like a hooker to an angry pimp. loooong hours, many of these guys sleep at work and have virtually no sex life. the pay is great though, but many are burnt out by the time they hit the big leagues like a managing director or senior analysts, or associates. read a really good book written by 2 ex IBs, very funny look at the business, its by John Rolfe and Peter Troob, called "Monkey Business". oh yea and ivy league school helps. Quote Link to comment Share on other sites More sharing options...
PinkFloyd40 Posted February 4 Report Share Posted February 4 Originally posted by bigpoppanils you dont have to go to the top schools to be in IBi was talking about top tier and even second tier banks, in which case if your not from a top school or have a straight 4.0 the likelihood is slim to none... Quote Link to comment Share on other sites More sharing options...
o-jay® Posted February 4 Report Share Posted February 4 Originally posted by bigpoppanils you dont have to go to the top schools to be in IBand not all the IB's are greedy, unsociable bastards eitherit also depends on the companyi'm not denying that it doesnt have long hours and that it inst stressful, but it isnt as bleak as its being described You don't have to be in top schools to get into I-Banking per se. But if you want to work at Bulge Bracket banks i.e., Morgan, Goldman, JPMorgan, Solomon, etc. it's almost impossible to get in unless you're from a top school. -Juice Quote Link to comment Share on other sites More sharing options...
bigpoppanils Posted February 4 Report Share Posted February 4 well i forgot i have connections Quote Link to comment Share on other sites More sharing options...
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