Why Investment Banking?

<p>i like money. And i like my thread. :D</p>

<p>i love how everyone is disguising their monetary motivation</p>

<p>sure economics and finance is interesting but i dont think it would nearly attract so many people if the potential 6 figure salary wasn't there</p>

<p>What is the salary of actuaries like in comparison with I bankers? I hear actuaries are highly demanded and are paid very well. Any info?</p>

<p>How much do quants get paid in comparision to i bankers? I hear that quants are highly valued by i banks and are not as easy to replace as the analysts, hence they are less vulnerable to unemployment during recessions relative to i bankers</p>

<p>I have a question what's the difference with income, job, and action of VP, MD, CEO, & CFO?</p>

<p>i think google could answer all of these questions</p>

<p>here's my 2 cents: actuary salary table @ DW Simpson
Actuary</a> Salary Survey - actuary jobs - D.W. Simpson & Company, Inc. , actuarial, actuaries, Employment, Salaries, Insurance, Statistics, Mathematics, FCAS, ACAS, ASA, FSA, Student, FCIA, FIA</p>

<p>And here's something for everyone new to investment banking:</p>

<p>YouTube</a> - wstss's Channel</p>

<p>Lots of videos with good, intro-stage explanations about what the industry is about, covering large areas from descriptions of boutique and BB banks to the hierarchy within investment banks.</p>

<p>Ibanking is def one of those fields you should stay away from now....</p>

<p>That is unless if you like to work 100 hour weeks for little pay.</p>

<p>"Some, but far, far fewer. Personally, it would still be something I would consider because I am interested in finance and have the right personality for it, but without the significant compensation it might not get above something like law for me and my choices."</p>

<p>Hi, I am currently a freshman at a College of Business Administration(best B-undergrad school rank - businessweek). Ever since the beginning of High School, I have wanted to become an investment banker. I am really serious about the job and have always tried to become involved with finance and the whole business sector in general. I've gone to business camps, read the wall street journal every morning, manage virtual stock portfolios online and am currently focusing on achieving a high gpa in my freshman year. I have done a fair amount of research and noted that generally type-A personalities are best for the investment banking field. I know that there is severe turmoil on wallstreet - directly affecting those in/seeking investment banking jobs. </p>

<p>In your post above, which I quoted, I noticed that you said that you are interested in finance and that you have the right personality for it. If you don't mind, can you explain to me what you mean by "the right personality." I am asking you this because personally I feel that no matter what happens on wall street, by the time I graduate, I want a job on wall street. There's just something about that 100-something hour work week that appeals to me - and it's not just the money.
Please answer my question and provide me with any advice you can. Thank you very much for your time.</p>

<p>I used to really like money, but not so much anymore. I just want a comfortable upper middle class or lower upper class lifestyle. Think $900k to $1mil house, enough to save for retirement, send the kids to private school, travel once in a while, whatever.</p>

<p>For me though, the point at which my marginal utility for the next dollar earned hits zero at $300k net of taxes (that is about $500k-$575k depending on where you live). What I'm saying is that the 300,001th dollar I make has a negative value in my perspective. :D I hit diminishing marginal value at $200k net.</p>

<p>Consulting should be right up my alley though-I'd get bored working a regular desk job. Financial consulting, management consulting, strategy consulting, litigation consulting, whatever.</p>

<p>do you think there will be a big decline in business school apps especially to the likes of wharton stern ross and sloan thus raising the acceptance rate?</p>

<p>"do you think there will be a big decline in business school apps especially to the likes of wharton stern ross and sloan thus raising the acceptance rate?"</p>

<p>In times of financial crisis it's 100% the opposite. Business school apps (and law school apps) increase DRAMATICALLY because everybody with a few years of work experience wants to go to school while the economy is crappy then come out when it's good again. It is much harder to get into business school when times are bad. When times are good nobody needs to go to business school. When they're bad nobody can find work so why not go to school for a few years then come out when the economy is better?</p>

<p>monkey, i should have made myself clear. i meant undergraduate business programs..</p>

<p>Possibly, but the effect would be minimal in my opinion.</p>

<p>lol, all people care about is money. It's rather disgusting what this society has become. I care more about my wellbeing than what I can buy. Silly people under the impression that more money will make them happier...</p>

<p>^^ who are you to decide what makes people happy or not?</p>

<p>
[quote]
I used to really like money, but not so much anymore. I just want a comfortable upper middle class or lower upper class lifestyle. Think $900k to $1mil house, enough to save for retirement, send the kids to private school, travel once in a while, whatever.

[/quote]
</p>

<p>That sounds extraordinarily boring.</p>

<p>It may be boring, but at least I'm not starving.</p>

<p>Boring = the new american dream</p>

<p>We are a capitalist, money-driven/dependent society.</p>

<p>It's normal to want money. Yet so many people are drowning in debt because their materialistic desires outweigh pragmatic bounds.</p>