If you don't get into IBanking

pokey07 · 02-29-2008, 10:27 AM

What do all the people do that don't get into IBanking? It seems that everyone and their mother want to get into it now and there obviously isn't positions for everyone. Or people just aren't cut out for it. What do these people end up doing as an alternative?

WFBanker08 · 02-29-2008, 10:51 AM

your life is over and you'll be regulated to a joe blow 9-5 middle management job for the rest of your life.

i'm kidding, there are always opportunities out there....

futurenyustudent · 02-29-2008, 10:59 AM

When life hands you an i-bank rejection......you go to law school.

Just kidding. I don't want to go into ibanking. But seriously, don't worry about it. 90% of the people who say they want ibanking won't get it.

pokey07 · 02-29-2008, 05:33 PM

Yeah thats what I what figured. The majority of kids in my econ classes want to end up in IBanking. Some better candidates than others, but even the good ones have a huge chance of disappointment. I was just wondering if there was a general backup career for those who dedicated their lives to getting into IBanking.

Thanks for the responses!

natedawg_cfb · 02-29-2008, 05:43 PM

actually, i'm going to say something like 99% of the people who want to go into Ibanking are delusional and will not get in.

collegebound9696 · 02-29-2008, 07:08 PM

It's funny that you say that nyustudent. A lot of ppl I met during the process said they would go for law school if they did not get a consulting or investment banking offer.

futurenyustudent · 03-01-2008, 01:36 PM

I was kidding, but okay. I figured I'm gonna burn out, go to law school, and then become a lawyer anyway so why not skip the ibanking step? And when people are still waiting for their offers, I'll have an admission letter in my hand.

There are about three tracks for econ majors: ibanking/consulting (about a good 70%), law school (a good 10%), and others (the other 20%). Glad I'm not an education major though.....starting salary in NY: $30k. I figured, when law firms get more cases, they hire more lawyers. When law firms get fewer cases, you get transferred to litigation. In IB when banks get more clients they hire more people. When the economy dips, they fire en masse.

matthanuf06 · 03-06-2008, 09:14 PM

Law school or one of the million other finance jobs out there.