<p>Money is necessary to feel secure in this day and age. There is nothing wrong with wanting it. It shouldn't be the only factor in anything one does, but I'll be darned if its not important</p>
<p>I'd be honest and tell the interviewer it'd only be for the </p>
<p>big bucks
cold hard cash
lettuce
mansions, yachts, diamond rings
private islands
Gulfstream jets
etc.</p>
<p>^ lettuce? o.O</p>
<p>ahahahhaha lettuce, whoo!</p>
<p>why ibanking? MODELS AND BOTTLES!!!</p>
<p>YouTube</a> - Investment Banker goes wild with Models and Bottles</p>
<p>that went around at different ibanks. when his own bank's HR firm saw it, AJ was fired.</p>
<p>more seriously, a lot of bankers (at least ones out of college) go into it because it's a "stepping stone" into other valuation based jobs, like VC, PE, hedge fund, etc. (not sure if this has been said...sorry if its a repeat)</p>
<p>
[quote]
correct me if im wrong, but from what i've heard, IB goes like this:</p>
<p>22 years old, fresh outta college with a Bach. Degree. - you work your a** off for 3 years, making about 100 k after benefits and such. this is where the 100 hour work weeks, all nighters and such come into play.</p>
<p>25 years old - either go to get your MBA or stay with the company and become an associate, a step higher than an analyast. making 250-500k. this position is less b**** work and much less hours than the analyst position.</p>
<p>By 30 years old, you've gained enough experience plus, assuming you've been with the same company, you are rewarded with a VP position, making about 500-1M a year. This job is much more chill and relaxing as now, you have already served your share of the term as the "n00b" and now you just manage over the new 22 year olds as they do their 100 hours a week.
[/quote]
Except, if you are looking at Ibanking purely from the compensation perspective, you'll find out that for the amount of work you do in an Ibank, you would probably make the same amount of money in a completely different field.</p>
<p>that path (from the quote) is correct if a) you are good enough to be promoted to associate and b) intend to remain an ibanker.</p>
<p>Most analysts do not make it to associate (even before the economy went down the drain). Furthermore, there are plenty of people who want ibanking as a "stepping stone" for other industries, so they don't really intend to stay more than 2-3 years.</p>
<p>Models and bottles... HAHA.</p>
<p>So can anyone share any examples of using iBanking as a stepping stone... where do you go from there? (I'm sure somebody's posted about this earlier but I don't want to sift through the posts)</p>
<p>hedge funds, private equity, venture capitalism?</p>
<p>Also B- school and corporate dev.</p>
<p>Honestly I really want to do IB cuz feeling of guilt… I played for 18 yrs of my life, since the econ F<strong><em>ed i had to work for 4 jobs just to get around the mortgage, most of time just normal 13-15 hours per day but i can’t really sleep at night thinking i wasted a lot of time doing these or that. When *</em></strong> is on peak, sometimes I have to go 20 hrs a day(eating included and a 40mins nap) by the end of the day i felt much much much much better and sleep much much much better.</p>
<p>I think ib is great in terms of life style (of course I expect i got paid on how i perform) and you have a great group of people just like you, so you don’t really feel alone from time to time.</p>
<p>Hi, this is my first post</p>
<p>How do hours, pay and work conditions in IB comare to those in other areas of finance such as Fund Management? Will an analyst a big fund management company like Blackrock or Fidelity have to work the same hours and will he/she earn a similar salary to that of an IB analyst at a large bank. Also how does pay compare higher up at the managing director level?</p>
<p>I’m wondering because both these careers interest me…</p>
<p>Thanks</p>
<p>Analysts at investment banks tend to work more hours and make more than their counterparts in asset management.</p>
<p>There are way more positions for just-minted college grads in IB than in asset management, so it’s not really as relevant a comparison at the more junior level.</p>
<p>
</p>
<p>Yeah? How do you know? What job description would be IB analyst’s counterpart in IM?</p>
<p>
</p>
<p>Because I have worked in IB and IM.</p>
<p>
</p>
<p>They are not really comparable. First off, there are far fewer people working in IM for whom it is their first job out of UG. Second, the culture of IB is more of throwing hours at a situation as opposed to trying to be time efficient. I wouldn’t doubt in comparing those whose first job is in IB vs those whose first job is in IM that the latter would have better hours considering the work would be less project deadline and client specific than in IB. I’m not too sure about the pay, although would suspect that IB would be more. </p>
<p>I’m more knowledgable about out of MBA comparisons of IB to IM where the hours are definitely much more in IB and the pay would start off a little better in IB and then ramp up faster than in IM, at least for the avg employee.</p>
<p>edit: I guess your response wasn’t directed at me. Well, regardless, I feel those are some of the distinctions.</p>
<p>You’re right gellino, my comments were not directed at you. I agree with your comments posted above.</p>
<p>
</p>
<p>Actually, IM on the average can be more lucrative. There are tons of investment management firms (hedge funds, private equity) that are quite small, perhaps 20-50 people and their share of profits can exceed those in IB. They are very low-key and under the radar to most people except for those who are in the business.</p>
<p>My S told me of his visit to a very well known and successful fund manager in NYC and his office was located in a walk-up in an old building in a non-trendy part of town. With lower overheads, they can reap profits just in fees alone.</p>
<p>On a per hour basis (M&I did a post on this sometime ago), IB in a bad year can be less than flipping burgers at old McDonalds…</p>
<p>^^Haha yeah that was a funny one</p>
<p>Yeah… not really. That’s assuming you only make $60,000 (no signing or year end bonus, which doesn’t happen) AND work 140 hour weeks (a little less than double the average IB workweek.)</p>