<p>I've heard so many horrible stories about Ibanking from parents, older friends, and people on this site. I'm only a senior in high school right now who is considering the field, so I'm wondering why it is so bad? What exactly do you do as an ibanker?
Thanks in advance!</p>
<p>read the book "monkey business" it will explain what you do and why it sucks. It's a good book to, it's got some funny parts.</p>
<p>Some love it, some hate it. I did it for 3 years and didn't like it. The work is not that difficult, but it is not for all tastes. But it is a great training ground.</p>
<p>Perhaps it could be compared to the military, only the pay is outrageous.</p>
<p>wow..."Monkey Business" is totally turning me away from ibanking...
and im only half done with the book</p>
<p>You should note that the writers were involved in only one subfield of i-banking and clearly had a bad experience.</p>
<p>Yep, the Ibanking lifestyle can be pretty rough, but when the banks come recruiting, people line up outside the door. It's always the same thing - most people will dislike it and leave, but some will really love it and excel and will become stars. It's that chance of becoming a star that continues to attract people. </p>
<p>You can think of it like Hollywood. Hordes of people go to Hollywood hoping to become movie stars. Most won't, but a few do, and it's that possibility that continues to attract new people.</p>
<p>Exactly right Sakky. The masses are interested in IBanking because it is glamorous and potentially very lucrative. But very few people are really designed for that sort of lifestyle.</p>
<p>Also comparable to trying to be a pro athlete.</p>
<p>Comparing it to the military is insulting--I dont know why so many people do it.</p>
<p>The only danger of dying is from stress + all the terrible food Ibankers eat. You have a safe job and get paid at least over 10x more than someone in the military.</p>
<p>The comparison is just disrespectful.</p>
<p>how does a person know if they have what it takes to become a top ibanker? is there an online quiz or something?</p>
<p>I've considered that the makeup of the prototypical investment banker is rather similar to that of a politician. Maybe that's why both of these occupations run in the Bush family tree.</p>
<p>Are you:
-really smart. In the think-on-your feet sense, more than the let-me-analyze-this-for-six-hours-and-get-the-optimal-solution sense.</p>
<p>-Athletic and physically attractive.</p>
<p>-Willing and able to work long hours under constant deadline pressure. And, later on, to travel extensively without regard to the impact of this on your family life.</p>
<p>-Extremely adept at selling yourself and products.</p>
<p>-Do you have outstanding communication and interpersonal skills</p>
<ul>
<li>Are you to a degree a somewhat selfish person? But are very "smooth" about being so?</li>
</ul>
<p>-Did you grow up with the "rich kid" perks? do you golf? ski? Crew on a yacht? Can you conduct an interesting conversation about your travels in Cannes? (or whatever, you get the idea)</p>
<ul>
<li>Did you attend one of the 25 or so acknowledged best undergraduate colleges in the country, where investment banks recruit?</li>
</ul>
<p>I see many posts on CC about what major you should have, etc. but unless you possess many of these personal qualities your major won't matter. Many people can do the job, but they carefully select who they want to admit into their little "fraternity".</p>
<p>I'm talking about real investment bankers now, not the myriad others who also work in secutities firms in various capacities.</p>