<p>So many individuals want to IBank, but I've asked myself, what satisfaction do you get out of Ibanking? I feel like any work that you do within an investment firm does not help anyone, nor do anything. IBanking to me seems like a pointless job that really serves no purpose. Is its only appeal the lucrative bonuses?</p>
<p>Correct me if im wrong, jusdt my two cents.</p>
<p>No. That's not the major appeal.</p>
<p>One of the greatest strengths for I-banking is the fact that after working at a bank for 2 years you open up many EXIT OPPORTUNITIES. You only have to keep working those bad hours if you want to. </p>
<p>There are many jobs that will require applicants to have worked 1-2 years in investment banking that actually give you a good lifestyle.</p>
<p>A great example is Business Development or Corporate Development for a Fortune 500 company. A lot of big companies have their own finance departments that work on things such as Mergers & Acquisitions and just generally what direction they need to move in to expand their businesses, build growth, profits, whatever. Most Business and Corporate Dev. jobs will only work you 40-50 hours a week. There's a haircut in pay but think of it this way, you've got an easy lifestyle and you're doing work that's pretty exciting, the kind of work you're doing will affect how your company operates. Whenever you look at the job descriptions they specifically ask for someone who's done 1-2 years in banking or strategy consulting.</p>
<p>Next there's Private Equity. Pay is usually better than banking and sometimes you can have less hours (really depends on the shop) and your work is again, more exciting. You stop being on the sell-side and start being on the buy-side.</p>
<p>Hedge Funds, again easier lifestyle, usually better pay.</p>
<p>At the same time -- I-Banks can help people. Depending on how you look at it. Of course you're selling a service, but at the same time you're advising people too. Recently Goldman Sachs tried to get the attention of shareholders to use their voting in favor of Mittal's offer for Arcelor Steel.</p>
<p>Do you want more purpose? PUBLIC FINANCE. This is where your bank helps structuring the deals on financing big public projects for cities. You can help finance schools, whatever. </p>
<p>
[quote]
Elementary school district financings
Piper Jaffray is a leader in K-12 school district financing. In addition to guiding clients on financings or refundings for capital projects, we have a unique focus on structuring and underwriting school district TRAN pools. Through our California Cash Reserve Program, more than 350 school districts in 48 counties were able to issue $930 million of notes in 2003. We also manage school district cash flow programs in Iowa, Minnesota, Wisconsin and Arizona. In Iowa more than 205 schools participated in a $181 million note program.</p>
<p>Government infrastructure development
We are a leader in the financing of governmental infrastructure in connection with development projects. Our investment banking experts also advise clients on tax-increment financing, assessment or special tax bonds and other types of financing vehicles used by cities and redevelopment agencies to finance infrastructure for development projects.</p>
<p>Government utility financings
We offer extensive experience in structuring water, sewer and other governmental utility financings for municipalities of all sizes. In the past five years, we have been involved in 583 sewer and water financings, including state revolving fund programs, for a total of more than $14.5 billion.
[/quote]
<p>want to be Managing Director at a Non-Profit organization? again, i-banking can help you get there. I looked at a job posting for one and they were looking for someone with the banking experience.</p>
<p>If you want to be able to physically help individuals though, then maybe you shouldn't think about business all together, look at becoming a doctor. But remember that the equipment in hospitals, the hospital itself, all my be a reality due to financing from bankers.</p>
<p>The most important thing to do though when looking at potential career paths is to think about exit opportunities, especially if you're interested in something broad such as 'finance'. A 2 year Investment banking can open a lot of opportunities for you to work somewhere else. Start thinking of I-Banking as a means to an end.</p>
<p>From what I read in the lame New York Post was that the biggest recruiters of Goldman Sachs Analyst after two years was Hedge Funds. Also, ibanking does have some interesting parts to it, especially if your in sales and trading. My cousin's friend is a complete adrenaline junkie and he says that being on the trading floor was the next best thing after the poker table's at the Bellagio. I don't know how true that is, but its belivable. Also, the corporate finance department tends to travel quite a bit too, from what I read for deals and such, so its comparable to consulting in some ways also. You should look at consulting too.</p>