<p>Why is there so much discussion about a job that realistically most people won't enter out of college (i.e. investment banking)? </p>
<p>I don't think I've seen many threads talking about industry corporate finance jobs (i.e. GE, Microsoft, P&G) that pay quite well for 1st year salaries. The base salary along with the yearend bonus may not be comparable to an IBank salary + bonus but the hours worked 40-50 vs. 100+ makes up for that factor. Also, with the economy nearing a recession, the days of big bonuses for Ibankers may be coming to an end.</p>
<p>This forum is generally made up of students who tend to be more neurotic about their future/ prestige (thus explaining why they would constantly post on an internet forum about careers/college). Therefore, people tend to focus on the most lucrative jobs, like they focus on the most prestigious colleges. Certainly one doesn't need to go into I-Banking to make money (or to have a prestigious job), but to many it seems like the most certain route to significant amounts money out of undergrad. Assuming most individuals on this forum are "long-term oriented" the pain of 100 hr weeks seem to be acceptable for future rewards (you do have many comfortable exit options from I-Banking). If kids are willing to sacrifice free time to attain high grades (and admission into prestigious college) they would presumably be willing to sacrifice free time for a more affluent future (although one might note that one can work long hours and enjoy doing so in a field they enjoy).</p>
<p>Thanks for the response.</p>
<p>I am a graduating senior from a T40 USNews school and I was also in on the investment banking hype in my junior year. However, due to the difficulty of actually getting an offer with a BB and also after reevaluating the type of life I'd have as an ib analyst, I chose to branch out my career options to include f500 corporate finance jobs as well. </p>
<p>Boy, was I glad I did. It just seems ridiculous to me how ppl in this forum offer up no other alternative to a "good" career besides ib, law school, and mgmt consulting, sometimes big4 (just for the exit to mba). </p>
<p>All I see from IB is REALLY long hours (plus you're looking at getting out in 2-3 years anyways, why not just work somewhere else and still get a T10 mba) plus an "ok" base with a huge bonus (which is taxed at like 35%) so you really don't even come away with that much anyways.. </p>
<p>law school = the 180 grand investment for tuition plus the 3 years of foregone wages. Then what? then a lucky few "make it" and make 160 grand out of law school.. of course you need to be in a t15 school to have a shot to begin with. </p>
<p>mgmt consulting = 50-60 hours a weeks of WORK and that doesn't include the additional 10-20 hours a week of travelling to airports and client sites. </p>
<p>big 4 = "ok" pay for crappy hours (busy season for audit, tax work is dull)</p>
<p>so what about industry?</p>
<p>I will make close to 80 grand this year working 40-45 hours a week and accrue around 4-5 weeks of vacation. Per hour that beats IB pay anyday. All I want to show that there is life outside of IB. Oh, and my work experience will be good enough for me to get into t10 mba so I still do have "exit opps" as well.</p>
<p>P10, I'd be very appreciative if you went more in depth about the specific industry in which you will be working. Is it tech, a conglomerate like GE, P&G, and Disney? Aerospace - Boeing? I'm going to be interning in F500 corp fin and so far they've been pretty hush hush about the salary. If it was 80K I would be ecstatic. Thanks.</p>
<p>x2... I'd also like to know, and how much experience do you have?</p>
<p>I'd be interested in hearing about this too.</p>
<p>Sorry for another post, can't edit mine anymore. But I'd also like to know how difficult it is to get into a corporate finance position at a F500 right out of college.</p>
<p>sorry about the late reply, I've been pretty busy finishing up my last quarter of college.</p>
<p>I will start work for an oil company this summer. I think this particular industry pays more on average compared to other industries (for entry level f500 hires) as I've heard that some of my co workers in Texas (graduated from mccombs) are also receiving nice offers in this range. </p>
<p>Obviously my base isn't $80,000/ year (although some of the engineers in the petroleum industry make that much starting out) but after factoring in year-end bonus, base, signing bonus + relocation + company stock it comes out to around that much. Base is in the 60's. </p>
<p>Prior to taking this position, I interned at the financial advisory department of a big 4 and had other internships as well.</p>
<p>GPA requirement was a 3.5+</p>
<p>Boeing doesn't pay its finance/accounting types this much, that I know. (engineers on the other hand...)</p>