Investment Bankers or Anyone In the Field....

[impalaballa187]

Originally Posted by DT43

Originally Posted by wawaweewa

Originally Posted by DT43

i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.

i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.

What type of engineering? 

Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment. 

The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work. 

From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't. 

MechE. and hell no i'm not going into IB.

i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well. 

i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys

Look into GE's Financial Management Program. Could be the best of both worlds from what u just described.

 

[classic]

posting for later

 

[classic]

posting for later

 

[campbellsoup]

Originally Posted by theconditioner

I'd say the first thing you should really think about is why exactly you want to enter the field.  If it is money, then you should take some more time to think about it. 

The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed.  I'm sure there's got to be something about the field that interests you. 

Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:

1) Right now, you're a jr. in college.  You have numerous options to do what you want in life.  This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility. 

2) How should you measure these potential payoffs?  Well, that is where priorities come in.  It really depends on what YOU value in life.  Is it money?  Is it traveling around the world?  Is it attaining knowledge?  Spending time with family?  Having freedom?  Or some combination?  We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it.  What is most important to you?

3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life.  Again, to which activities would you like to allocate your time?  In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else. 

4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity.  But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal).  Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.

5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider. 

A bit repetitive, but I don't feel like editing. 

Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life.  Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life.  I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.

At this point in my life, I know money won't give me happiness, but I do like the secure feeling it offers.
The world of finance to me is very interesting, and I would like to travel around the country or world if given the opportunity within a finance career.

If I pursue this career, I'm 98% sure I wouldnt second guess myself. I know the hours can be long, often stressful, but I like the whole "chase feeling' that a career like this would include. Maybe its just me...

 

[campbellsoup]

Originally Posted by theconditioner

I'd say the first thing you should really think about is why exactly you want to enter the field.  If it is money, then you should take some more time to think about it. 

The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed.  I'm sure there's got to be something about the field that interests you. 

Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:

1) Right now, you're a jr. in college.  You have numerous options to do what you want in life.  This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility. 

2) How should you measure these potential payoffs?  Well, that is where priorities come in.  It really depends on what YOU value in life.  Is it money?  Is it traveling around the world?  Is it attaining knowledge?  Spending time with family?  Having freedom?  Or some combination?  We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it.  What is most important to you?

3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life.  Again, to which activities would you like to allocate your time?  In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else. 

4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity.  But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal).  Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.

5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider. 

A bit repetitive, but I don't feel like editing. 

Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life.  Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life.  I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.

At this point in my life, I know money won't give me happiness, but I do like the secure feeling it offers.
The world of finance to me is very interesting, and I would like to travel around the country or world if given the opportunity within a finance career.

If I pursue this career, I'm 98% sure I wouldnt second guess myself. I know the hours can be long, often stressful, but I like the whole "chase feeling' that a career like this would include. Maybe its just me...

 

[impalaballa187]

Originally Posted by CampbellSoup

Originally Posted by theconditioner

I'd say the first thing you should really think about is why exactly you want to enter the field.  If it is money, then you should take some more time to think about it. 

The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed.  I'm sure there's got to be something about the field that interests you. 

Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:

1) Right now, you're a jr. in college.  You have numerous options to do what you want in life.  This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility. 

2) How should you measure these potential payoffs?  Well, that is where priorities come in.  It really depends on what YOU value in life.  Is it money?  Is it traveling around the world?  Is it attaining knowledge?  Spending time with family?  Having freedom?  Or some combination?  We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it.  What is most important to you?

3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life.  Again, to which activities would you like to allocate your time?  In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else. 

4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity.  But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal).  Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.

5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider. 

A bit repetitive, but I don't feel like editing. 

Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life.  Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life.  I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.

At this point in my life, I know money won't give me happiness, but I do like the secure feeling it offers.
The world of finance to me is very interesting, and I would like to travel around the country or world if given the opportunity within a finance career.

If I pursue this career, I'm 98% sure I wouldnt second guess myself. I know the hours can be long, often stressful, but I like the whole "chase feeling' that a career like this would include. Maybe its just me...

Not to shred your misconceptions...
Upper finance ≠ Job security

Most of the banks have a 2 years up or out policy. If you don't earn that promotion in 2 years, they kindly ask you to pack your things and go get an MBA or do something else.

Finance ≠ Travel (for quite a while, actually)

If you're looking for a career where you're traveling non-stop from day 1 check out the consulting field. A lot of banking analysts and associates stay at their offices and do very little travel if at all. It's day in, day out at the same location. 

Check some corporate finance roles for what you're looking for. Those have a lot more security, and after your 2 year stint they like to keep you within the company in some capacity considering the investment they made. Also, many of them are rotational and send you wherever in the U.S./overseas for a few months to work. They have a tremendously better work-life balance as well... very few weekends and never a 80 hour workweek. 

 

[impalaballa187]

Originally Posted by CampbellSoup

Originally Posted by theconditioner

I'd say the first thing you should really think about is why exactly you want to enter the field.  If it is money, then you should take some more time to think about it. 

The reason I'm asking is because if money your only impetus, then it will be very difficult for you to succeed.  I'm sure there's got to be something about the field that interests you. 

Here are some things for you to think about when deciding on your future, taken from a quasi-finance perspective:

1) Right now, you're a jr. in college.  You have numerous options to do what you want in life.  This optionality you have is extremely valuable (I cannot stress that enough), but you've got to consider the payoffs of each possibility. 

2) How should you measure these potential payoffs?  Well, that is where priorities come in.  It really depends on what YOU value in life.  Is it money?  Is it traveling around the world?  Is it attaining knowledge?  Spending time with family?  Having freedom?  Or some combination?  We only have a limited amount of time in our lives; you've really got to take the time to think about how you want to use it.  What is most important to you?

3) Keep in mind that financial services industry can be very rewarding financially, but you give up a number of aspects in life.  Again, to which activities would you like to allocate your time?  In this industry, for a large portion of your career - namely the time period in which you are perhaps the most healthy and able-bodied - you give up a lot of time that could be spent doing something else. 

4) Some people love working in the field, so there is a logical reason why they would want to allocate their time to that activity.  But if you don't like what you're doing, you will be foregoing the opportunity to do something else with your life (i.e. the "payoff" of your choice is not optimal).  Of course, it is a bit more challenging if what you really want to do requires a lot of money, so that is why it is important to prioritize; some people are willing to allocate a large portion of their time to attain money, and they feel it was a good decision.

5)That brings up my point: your career choice is truly an economic decision, with time being the most important resource to consider. 

A bit repetitive, but I don't feel like editing. 

Basically, just keep in mind that if you don't like the field, you will be forgoing the opportunity to do what you really want to do in life.  Time wastes away, and unless someone makes an age-reversal machine or finds a way to make humans immortal, you will never have the chance to go back and re-live your life.  I think that is why some people face mid-life crises - they realize that half their life is gone, and that money didn't buy their happiness.

At this point in my life, I know money won't give me happiness, but I do like the secure feeling it offers.
The world of finance to me is very interesting, and I would like to travel around the country or world if given the opportunity within a finance career.

If I pursue this career, I'm 98% sure I wouldnt second guess myself. I know the hours can be long, often stressful, but I like the whole "chase feeling' that a career like this would include. Maybe its just me...

Not to shred your misconceptions...
Upper finance ≠ Job security

Most of the banks have a 2 years up or out policy. If you don't earn that promotion in 2 years, they kindly ask you to pack your things and go get an MBA or do something else.

Finance ≠ Travel (for quite a while, actually)

If you're looking for a career where you're traveling non-stop from day 1 check out the consulting field. A lot of banking analysts and associates stay at their offices and do very little travel if at all. It's day in, day out at the same location. 

Check some corporate finance roles for what you're looking for. Those have a lot more security, and after your 2 year stint they like to keep you within the company in some capacity considering the investment they made. Also, many of them are rotational and send you wherever in the U.S./overseas for a few months to work. They have a tremendously better work-life balance as well... very few weekends and never a 80 hour workweek. 

 

[swizzc]

im in IBanking. im at work right now. smh. moneys good though.

 

[swizzc]

im in IBanking. im at work right now. smh. moneys good though.

 

[youngin33]

Money Making A wrote:

---

Do you want to be this guy?





No lie, I went to school with his friend Tony. 

 

[youngin33]

Money Making A wrote:

---

Do you want to be this guy?





No lie, I went to school with his friend Tony. 

 

[campbellsoup]

Originally Posted by swizzc

im in IBanking. im at work right now. smh. moneys good though.

Care to elaborate more?  Education, how you got into your company, what your usual work day or week is like, etc?
Thanks 

 

[campbellsoup]

Originally Posted by swizzc

im in IBanking. im at work right now. smh. moneys good though.

Care to elaborate more?  Education, how you got into your company, what your usual work day or week is like, etc?
Thanks 

 

[th1nk]

Originally Posted by DT43

Originally Posted by wawaweewa

Originally Posted by DT43

i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.

i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.

What type of engineering? 

Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment. 

The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work. 

From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't. 

MechE. and hell no i'm not going into IB.

i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well. 

i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys

you're at nyu right?
how can you be majoring in engineering?

 

[th1nk]

Originally Posted by DT43

Originally Posted by wawaweewa

Originally Posted by DT43

i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.

i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.

What type of engineering? 

Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment. 

The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work. 

From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't. 

MechE. and hell no i'm not going into IB.

i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well. 

i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys

you're at nyu right?
how can you be majoring in engineering?

 

[dt43]

Originally Posted by th1nk

Originally Posted by DT43

Originally Posted by wawaweewa

Originally Posted by DT43

i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.

i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.

What type of engineering? 

Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment. 

The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work. 

From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't. 

MechE. and hell no i'm not going into IB.

i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well. 

i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys

you're at nyu right?
how can you be majoring in engineering?

Columbia. i'm pretty sure NYU has a School of Engineering though. 

 

[dt43]

Originally Posted by th1nk

Originally Posted by DT43

Originally Posted by wawaweewa

Originally Posted by DT43

i agree with people who say you can't just be in it for the money. you have to actually have a love for the "game" per se, the actual process of doing research and hitting on good investments and making money for people.

i'm doing engineering right now at a top university, but my interest in finance has grown exponentially in the past few months and i've acquired a lot of knowledge just from independent research. i never planned on doing this before, but this semester i'm gonna start working towards a finance-related minor to go along with engineering and see where it takes me in my job/internship hunt. my school is in NYC and most kids here go into finance (pretty much gives away where i go) and make bank, so there's a pretty good pipeline and a lot of opportunities.

What type of engineering? 

Stay in engineering. Go into patent law or aim to work for a high tech, innovative company with a great work environment. 

The drop out rate for IB through the first 3 years is enormous and it's not only because "the strong survive". I've known a few and heard second hand about many who were actually good at what they did but got burned out or disinterested in the work. 

From the outside looking in, it looks glamorous but for the vast majority, like everywhere else, it ain't. 

MechE. and hell no i'm not going into IB.

i was thinking more along the lines of corporate finance and such. but my options are definitely open. i know kids who were engineers through and through, interned at places like Boeing, GE, etc, and through networking somehow ended up with sick offers in finance-related fields. so i'm still planning on doing engineering, i just want to be financially competent as well. 

i would love to work at one of those tech startups, everyday i'd just come to work in a polo and some sperrys

you're at nyu right?
how can you be majoring in engineering?

Columbia. i'm pretty sure NYU has a School of Engineering though. 

 

[freeze]

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

 

[freeze]

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

 

[throwedindagame]

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

Um.....your friend got 250k out of undergrad for investment banking?

You sure he wasn't at some sort of fund?

The range I've heard/read these days on the street (all-in) is like 110-140k, 70k salary + 40k-70k bonus depending on firm and bracket.

 

[throwedindagame]

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

Um.....your friend got 250k out of undergrad for investment banking?

You sure he wasn't at some sort of fund?

The range I've heard/read these days on the street (all-in) is like 110-140k, 70k salary + 40k-70k bonus depending on firm and bracket.

 

[bijald0331]

Your friend is lying. It happens.

 

[bijald0331]

Your friend is lying. It happens.

 

[joe camel smooth]

yeah thats just false.

 

[joe camel smooth]

yeah thats just false.