<p>And why does everyone on this forum want to do it?</p>
<p>It's Banking related to investment.</p>
<p>why does everyone want to do anything these days?</p>
<p>money.</p>
<p>the short work hours</p>
<p>How much money do they make and do most of these people who want this ibanking job end up getting it?</p>
<p>lol mattistotle</p>
<p>They do make a pretty good salary. I've heard that first year analysts are getting packages around 65kto 85k + bonus right out of college. Regarding the other question, its pretty much basic supply and demand. There are thousands and thousands of college students who want to go into Ibanking ( money being the main motivator for most), and there are only a few jobs to go around, so a lot of these prospective bankers will probably have to hold out on their dreams for a couple of years. Most Ibankers, though, leave the industry a few years into the job and switch to jobs with comparable compensation and better hours ( e.g. consulting).</p>
<p>I've never understood the desire to go into i-banking. Okay, you make a lot of money. Your also treated like a slave. I guess some people really like money.</p>
<p>yeah, you dont even have the time to spend your money. You'd need to higher a personal shopper.</p>
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yeah, you dont even have the time to spend your money
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</p>
<p>You say that like its a bad thing.</p>
<p>it is! spending the money is the fun part. whats the point of having it if you dont have time to use it?</p>
<p>
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spending the money is the fun part
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</p>
<p>You must be a woman. :)</p>
<p>the briilliant thing about Ibanking, besides the fact that you'll be the richest 22 year old you know, is that if offers a great experience for aspiring finance people. I really think that, coming out of Ugrad, Ibanking is the best thing that a person can do. IMO, it provides great, if not top notch, exit opps.</p>
<p>
[quote]
it is! spending the money is the fun part. whats the point of having it if you dont have time to use it?
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</p>
<p>Here is the way that I look. In two years as an analyst you will greatly improve your work ethic, bankroll, connections, business experience, and MBA opportunities. After those two years you can enroll in an MBA program with a work ethic that is unparalleled by most others. Then, you will be well equipped to go in any direction that you wish.</p>
<p>Basically you work 100 hour weeks for Steve Jobs. Everyone wants to go into I-Banking because the want to meet him. With him, you guys are revolutionizing the world of banking, and after creating the i-bank, you'll be moving into I-Accounting and I-Flying. You'll get a free mp3 player once you sign up too</p>
<p>Yeah, I know I know. It's a really good base to have and whatnot. I'm just not willing to give up 2 years of my life...</p>
<p>Everyone on this forum needs to stop talking about "ibanking", cause 99% of you guys dont even know what it is. You want to do it because its where big bucks are. Im a rising junior finance major right now, and its taken me till this year to UNDERSTAND what investment bankers do. Your not going to decide if u want to do it, until u take some basic finance courses, meet some employers from merrill, goldman, morgan etc. There are plenty of other things you can do besides invesment banking division, such as sales and trading, operations, private client/wealth management. etc. All of which make real good money. Dont make a decision based on "INVESTMENT BANKING". There are plenty of Investment banks that do a lot more than just investment banking. Once you learn what this means, dont make that decision, because the the best advice i've ever been given from an investment banker, is that your going to have to love what your doing for those 80+ hours in the office, otherwise your not going to make it out of the 2 year analyst program.And you guys cant love something unless u know what it is in the first place.</p>
<p>Kbisus, if you're a rising junior (like I am), then you haven't had a decent Ibanking internship either (Even if you managed to get one this year, it hasn't started yet), so I don't know why you talk down to people. Making models, making pitchbooks, doing BS research, working in excel, etc don't take a rising junior to understand...From what I've read of these responses these people seem to have a good idea of what it is, and you don't even know if they've had experience or not.</p>
<p>Nice kbisus, you are one year older than most of the kids on this board, maybe. Yet, you are the seasoned vet who "knows" the world of finance? ...............OK o_0</p>
<p>I am not at all saying im a "seasoned vet." What im saying is that im NOT. and a lot of people go into finance with the intentions of doing "investment banking and making tons." All I am saying is that you should choose your major not because of the hype about ibanking and all the money. You should choose your major and concentration on what interests you. Im saying for there to be so much discussion on ibanking on this site is ridiculous. Its ONE thing that you can do with a business degree and its just getting blown out of proportion.</p>
<p>kbisus, your point is irrelevant and belongs in a different thread.</p>
<p>To add to the list of reasons for people to like ibanking: good exit opps into lucrative fields such as private equity and hedge funds.</p>