<p>this thread is awesome</p>
<p>i guess the consensus answer is the exit opp’s that IB provides and that feeling of “achievement” you get by just getting and having the job. </p>
<p>also, some people may find that hectic lifestyle appealing which may seem counter-intuitive but some people just like to be busy. i can vouch for that feeling somewhat.</p>
<p>Obviously my ■■■■■ post ****ed some people off.</p>
<p>Let me just say this:</p>
<p>“You’ll never see a Uhaul driving behind a herse”</p>
<p>you can’t take that money with you when you die.
when your 65 and are in your deathbed from a heart attack, received from the decades of stressful death, and you find out you have 56 million dollars worth of property, money, investments, etc. to your name, are you really going to be happy? What will you be able to say about your life.</p>
<p>I didn’t have time to read the entire 18 pages of this thread so I don’t know if what I’m saying has already been said. To answer the original question of WHY I would do IB stems from the fact that IB has an enormous slice in market decisions and outcomes. I would classify investment banking in the realm of monetary philanthropy - I know some people would easily disagree and say “how is working there for the greater good when we had to bailout wall street for their greed?”, but essentially the foundations and progress of our society needs financial management to build infrastructure, consolidate business, or raise capital for any other situation. </p>
<p>Would I be lying if I said that the money factor plays a big part in the desire for IB? Of course it does, but how can I be faulted on wanting financial security and the best for my family? Isn’t that the American Dream? Idk, maybe I’m just crazy but I would love to be part of a system that has the ability to contribute immensely to the overall growth of society.</p>
<p>Just a few thoughts.</p>
<p>this might be an old thread, but it is it generally a better decision to go to the buy-side after a few years or move up the IB ladder?</p>
<p>Trading is what I’m meant to do. When I read the list of desirable skills for a trader to have, I felt like I was reading a description of myself.</p>
<p>
</p>
<p>So does every finance major.</p>
<p>It’s similar to everyone believing that they are a “better than average” driver.</p>
<p>GregFields</p>
<p>*
</p>
<p>Just curious what you think traders do and what skills are needed. And do not just say quants.</p>
<p>
</p>
<p>Strong mental math skills
Excellent ability to hide emotions whether up or down
Genuine interest in markets and economic trends
Ability to stick to the plan regardless of my emotional involvement</p>
<p>
And what proven track record do you have to show employers that this is, in fact, a description of yourself?</p>
<p>High GPA shows baseline intelligence.</p>
<p>Internships and extracurriculars have some importance to showing your interest.</p>
<p>The most important is having a kick-ass interview.</p>
<p>You do IB for 2 things:
- Money
- Exit opportunities</p>
<p>NOBODY starts out in IB because they actually like it, even if you do like finance as a field.</p>
<p>I think IB people are unfairly targeted for being money driven. All those middle schoolers who rose their hand to be doctors in class knew damn well that both professions have the potential to pay big bucks. Obviously Morgan Stanley isn’t replacing defunct kidney or heart, but that do important stuff, and they work like dogs for years to earn all that lettuce.</p>
<p>Probably the best thread here</p>
<p>this thread’s pretty old, but ill throw in my two cents here.</p>
<p>my dad was an investment banker for a few years. the main reason he got into investment banking was the same reason he got out of IB, the exit opportunities. Investment banking is probably one of the most respected jobs in the finance world. if you do well in IB, you can do well in almost anything in the finance world. </p>
<p>my dad was well out of the analyst position by the time i was born. my mom told me and my 4 sisters that there would be times where she would go days without seeing him. that is the kind of schedule you can expect. he says that it could have been worse because usually he could go in the office early sunday and be out of there by 1 o’clock. you dont get paid to put family and fun first. if you want to make the money, you had better be willing to pay the price.</p>
<p>you should never do something for the money. IB looks great to a lot of people because of the money. sure you could make a lot right out of school and the money only increases, but most people are turned off once they find out about the hours and the actual work.</p>
<p>today, my dad is a Venture Capitalist. he still works 60 hours a week (sometimes less and sometimes more depending on the time). he likes it a lot more than investment banking. </p>
<p>but cool thread, happy i came across it.</p>