<p>I heard that investment bankers can make alot of money(probably more than some engineers). </p>
<p>If you got an undergrad in engineering and a MBA, would you be able to become an investment banker.</p>
<p>that is truly possible. and many have done that so far.</p>
<p>also if you wanna make money, engineering is not a thing you want to do.</p>
<p>Yes, investment bankers hire engineering majors, both with and without MBA degrees.</p>
<p>So what are you planning on being a lawyer/business major/engineer/nontechnologist/investment banker. Well I think you have got your work cut out for you when you get to college. Because you're just going to have to major in everything.</p>
<p>The targeted income level is $1000000 sometime within the career. It could be 9-10 years. You want to make a lot of money, really badly, and you're willing to work at it, and go into whatever specialty/area will make the most.</p>
<p>Right now investment bankers is the goal. </p>
<p>In I-Banking- I'll give you the benefit of having already obtained a summer internship or a bachelors degree entry level analyst position (which, btw, only about 5% of students achieve). Now consider that approx. 70% of analysts at these banks will get in to a top business school afterwards. In order to come back and be re-hired by your old firm, you would probably have to be in the top half of your business school class. Now you're working an 80-100 hour a week job as an associate, making 200k to start with. Its not our target salary, so, lets consider that about 5% of these associates will become managing directors (the first of the elite salary levels of 700-800k+). </p>
<p>Overall after undergraduate study - assuming you can even get an entry level job at a top i bank. 70%(go to bschool) x 50%(get re-hired) x 5% (become an MD) = .0175 .. </p>
<p>In i-banking .. 1.7 percent of these people can achieve the target income level.</p>
<p>So
If you want to make a lot of money, really badly, and you're willing to work at it. Engineering is by far the best bet. As 10% of engineering grads will go into specialties that allow them to make ridiculous amounts of money. This is one thing i really like about engineering. You only spend about 3 years "proving" yourself, getting into investment banking. After that its like you have a license to print money. You're controlling your destiny. In other professions, you have different "cuts" every few years where only a few advance, and everyone else has to stop. It takes 9 years in law to get a big law partner spot, perhaps 10 in medicine. In engineering, after 3 years (granted, perhaps 4), you'll be all but guaranteed a high paying job as an investment banker. </p>
<p>Comments?</p>
<p>You need an MBA for associate and higher positions as an investment banker. For top money you basically have to attend a prestigious b-school because top firms recruit/hire from there exclusively. An engineering degree does not guarantee entrance to one of these schools, in fact it does very little. Of course it does not hurt you, but your goal isn't to not be hurt, so maybe you should maximize your chances to getting into a top b-school, rather than wasting your time on this engineering myth.</p>
<p>"In engineering, after 3 years (granted, perhaps 4), you'll be all but guaranteed a high paying job as an investment banker."</p>
<p>Excuse me???</p>
<p>Which "high paying job" are you referring to? Do you seriously think that engineers can just springboard into an MD gig after 3 years of engineering?</p>
<p>But yes, many have gone into i-banking with little knowledge of finance (you just have to pass the simple interview questions). Because analyst = spreadsheets & powerpoint.</p>
<p>it's a general view, as i said early, "if you wanna make money, engineering is not a thing you want to do."</p>
<p>to follow your ..dream.., you have to be at the top engineering school, and graduate with high GPA/ranking, AND keep up with all business/MBA stuffs, internship and whatnot. if you put those kinda efforts directly into something else you'd have a better shot to reach "that dream".</p>
<p>i mean if you are super smart (you sound like you're), like, just top off my head, a heart-surgeon or a brain-surgeon (of course, you gotta be at the top in the nation) would be a lot better shot. (you dont have to spread your ... inteilligence)</p>
<p>just my .2 dollar</p>
<p>Of course. In fact, you can get a job with IB straight out of Engineering undergrad. The big IBs (Goldman Sachs, JP Morgan, Morgan Stanley etc...) recruit Engineers directly out of most top Engineering programs.</p>
<p>So Alexandre if I do MIT undergrad in Engineering, will I have the option of either:
a) Going to EIT and then after P.E. do MBA
b) Go straight to Wall Street or IB?</p>
<p>Although those i-banking and other investment jobs have a lot of money, I don't know if they will be as <em>personally</em> satisfying as a career in engineering. I guess it depends more on money vs. personal interest.</p>
<p>Absolutely. There are infinite options open to the MIT alum. You can work as an Engineer for several years, get an MBA and go into IB or you can go for IB straight out of college.</p>
<p>What about engineering grads from state schools? Do they have the option of going into IB or going into IB after MBA?</p>
<p>So Alexandre, after you become a P.E. you can go into IB if you don't like it/not satisfied with the salary? But if you like being a P.E. you can stay on?</p>
<p>It is difficult to go from one industry to another. So if you decide to become a PE at a manufacturing firm right after graduating and then realize that you really want to go into IB, you will probably have to get an MBA first.</p>
<p>Alexandre, can you go into IB straight out of engineering undergrad if you didn't go to MIT or prestigious college?</p>
<p>"it's a general view, as i said early, "if you wanna make money, engineering is not a thing you want to do."</p>
<p>to follow your ..dream.., you have to be at the top engineering school, and graduate with high GPA/ranking, AND keep up with all business/MBA stuffs, internship and whatnot. if you put those kinda efforts directly into something else you'd have a better shot to reach "that dream".</p>
<p>i mean if you are super smart (you sound like you're), like, just top off my head, a heart-surgeon or a brain-surgeon (of course, you gotta be at the top in the nation) would be a lot better shot. (you dont have to spread your ... inteilligence)</p>
<p>just my .2 dollar"</p>
<p>What would you suggest if engineering is not the field if you wanna make money?</p>
<p>Being a brain-surgeon takes a alot more years of school than the engineer/MBA/I-banking route. and I'm not really interested in going into medicine.</p>
<p>Xerox, I am pretty sure that you can get IB jobs out of any university and any major. However, the odds are better if you go to an alite university. The main IBs (Golman Sachs, JP Morgan, Morgan Stanley, Lehman Brothers, BNP Paribas etc...) recruit directly from the Engineering departments at most elite universities.</p>
<p>Will working towards PE count towards working experience for admission to an MBA program?</p>
<p>well. i think if you want to hit that lottery(you know, it's no ordinary salary) in the investment banking, you gotta be very smart AND lucky AND very very lucky.</p>
<p>(of course every i'm saying comes from "a few" articles i read and couple people i talked to)</p>
<p>And for engineering, specially at those top schools, you gotta really dig into in order to get good grades. (and i'd never major in something I know i wont use for rest of my life)</p>
<p>I honestly do not know how to make that much money -_-
i suggested some surgeon stuffs, cuz they are more of brain and hard work than lucky as well as stable field.</p>
<p>Personally, if you were my best friend, i would ask you to change your dream.</p>
<p>I think I'll go into either business or engineering or maybe I'll do a double major in business and engineering so I can go into investment banking.</p>
<p>Is there a major that most investment bankers take?</p>