My FAQs about IBing

Career Opportunities & Internships Investment Banking
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<p>Hey guys, I've posted around in those forum a bit lately, but I have some FAQ type questions:</p>

<p>I'm intrigued by the IB salaries, starting salaries into the six digits, and according to this:</p>

<p>Salaries</a> in Investment Banking</p>

<p>After like 7 years, plus an MBA, people can make well into the 7 digits! But my question is, I've heard that analyst positions require you working not 9-5, but 5-9. But do those hours get better? Once you return as an associate, are you still the same level as a lackey analyst? Or do you have better, fixed hours?</p>

<p>Also, do IBers ever get to call up and say 'sorry, I'm going on a business trip to Hong Kong/Singapore/London'? Or does it all just take place in NYC?</p>

<p>About college stuff, can you still break into the industry after pursuing a masters/PhD? Or would that just come out to a complete waste of time? </p>

<p>I've heard of things like securities and risks trading, but what other 'fields' are there in IB?</p>

<p>Thanks fellow posters and IBers, hope to see you in a BB myself one day!</p>

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<p>6 figures is definitely true, 7 happens, after several years post B school and depending on the bank and performance. Additionally, it will not be 7 figures flat, it will be 7 figures as salary, plus small cash bonus, plus stock bonus. </p>

<p>Hours are always pretty long - it’s not 5am to 9pm, it’s more like 8-930 am to 11pm-2am on average. Analyst hours are worst, then associate and so forth. When you start as an associate you will be higher than analysts, but you will work long hours just to learn and become acquainted with everything. After that, your hours will shrink, but not a ton. Again, this also depends on group, bank, etc - some groups are known for better hours, other much worse. There is no such thing as fixed hours in IB</p>

<p>Who exactly would IBers say “sorry” to? Associates and analyst, for that matter, travel sometimes when needed for client work - again, some groups travel more, others less. </p>

<p>You can, but you should push for an analyst IB position straight out of U Grad - a Masters wouldn’t hurt, but a PhD wouldn’t help for IB at all. </p>

<p>If you are talking about IB, you are not talking about trading. If you are talking about AN investment bank (instead of the field of investment bankING), then there is sales and trading, IB, operations, control, middle office, credit, PWM, etc. For investment banking, there is the industry side (industries such as technology, energy, media, etc) and then the product side (products such as M&A, leveraged finance, high grade, etc). </p>

<p>IBanker</p>

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<p>Wow, thanks bro^^^</p>

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<p>What I expected. Though what about when like Goldman Sachs publishes reports like the Next-11 and the BRIC economies. Who prepares and makes those? I’d kind of be more interested in something like that rather than the usual IB stuff (like the other smaller ‘fields’ you mentioned). Wouldn’t you need a PhD/Master’s in economics for that stuff?</p>

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<p>Ehh… I guess the one major downside to the industry IMO. That and having all America curse you for being ‘greedy scroundrels’ or something…
After maybe a year of being an associate, what would be the typical hours?</p>

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<p>I would say the bing downsides are definitely the long hours, working weekends, getting crap dumped on you by more senior folks, etc. </p>

<p>I’ve pulls countless all nighters…and have to say that during my two years in IBD I had no life…now i work in M&A at a fortune 100 tech company…where i do the same work but work half the hours :).</p>

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<p>Don’t analysts do like simpleton’s work rather than actual… analyzing lol?</p>

<p>How many years of experience after MBA would mean like a…6-8 hour work day?</p>

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<p>analysts at a bank mainly do the grunt analysis work meaning putting together the DCF valuation, precedent transaction comps, public comps, etc. So you arent doing simpleton work but are doing most of the analysis on a deal. </p>

<p>i’m exagerating when i say my job is the same since im an associate now…the work is similar…as I still own most of the the valuation and analysis work for any deals but now my job also includes sourcing deals, negotiating, etc…my hours tend to be from like 9-7 or so…</p>

<p>6-8 work days in banking? I would say that’s not even the case for the most senior of people (MDs, etc). Those guys still work 10-12 hours a day but most of their time isn’t spent doing analysis work but rather traveling around making deals, building relationships, presenting at conferences, pitching to clients, and just trying to generate business…</p>

<p>In the</p>

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<p>Yeah, it’s not like I want to be partying every night or something… I mean, it’d put a strain on a relationship or family you know.
Lots of people talk about exit opportunities from IB, so would the same be at like Hedge funds or something?</p>