College Confidential
» CC HOME » FORUM HOME

  College Confidential > College Admissions and Search > Internships, Careers, and Employment > Investment Banking
New User

Welcome to College Confidential!
The leading college-bound community on the web
Join for FREE now, and start talking with other members, weighing in on community polls, and more.

Also, by registering and logging in you'll see fewer ads and pesky welcome messages (like this one)!
Discussion Menu
»Discussion Home
»Help & Rules
»Latest Posts
»NEW! CampusVibe™
»Stats Profiles
Top Forums
»College Chances
»College Search
»College Admissions
»Financial Aid
»SAT/ACT
»Parents
»Colleges
»Ivy League
Main CC Site
»College Confidential
»College Search
»College Admissions
»Paying for College
Sponsors
SuperMatch - The Future of College Search!
CampusVibe - Almost As Good As A Campus Visit!
Reply
 
Thread Tools
Old 03-14-2008, 05:08 PM   #121
Senior Member
 
Join Date: Jun 2007
Location: Boston->Ann Arbor
Posts: 1,238
I'm applying for transfer, but were I to stay at my current school, I would probably end up taking:

12 Econ classes
-some would be cross listed with finance
-Honors? probably...
11 Finance Classes (Five Graduate Courses)
-corporate finance sequence
-investments/derivatives and risk management/mergers and acquisitions/investment banking
-financial econometrics (in addition to the regular econometrics)
8 Math class
-Calc through Diff EQ
-Probability
-Linear Algebra
-Real Analysis
-Statistics


I've been taking my class pretty seriously after Freshmen year and I expect to keep my GPA up as close to 4.0 as possible (Probably end up 3.7-3.8). I'm currently at a school in the 30s-40s overall and 40s in terms of business. Would I be competitive for an IBanking job with a strong quantitative background?

I'm not just interested in IBanking because of the money. I think it's a job that I could do well at and even make a career out of.
Sachmoney is offline   Reply   
Old 03-14-2008, 06:41 PM   #122
sup
Senior Member
 
Join Date: Feb 2005
Posts: 1,236
How good are your chances of getting into an ibank if you get a bachelors from HYPS? Someone mentioned earlier that 500/16,000 applicants received an offer from Citigroup. How much higher would my chances be if i graduated from a top school?
sup is offline   Reply   
Old 03-14-2008, 08:42 PM   #123
Member
 
Join Date: Aug 2007
Posts: 875
this is not a chances thread....

and one more thing. although u need all these math/economic classes to get the job in Ibanking, few positions within the bank ever use any math above algebra 2- its all about how the economic system works
Wneckid99 is offline   Reply   
Old 03-14-2008, 09:49 PM   #124
Member
 
Join Date: Mar 2008
Posts: 423
You don't need to go to school to learn how to invest. thats a grave mistake. The majority of the worlds most successful investment bankers did not learn how to invest via a formal education. what makes them good or even great is that they are different than the rest.

There are far mores sucky Ib graduates than there are non graduates.
Dr.Horse is offline   Reply   
Old 03-15-2008, 12:15 AM   #125
Junior Member
 
Join Date: Mar 2008
Location: lynn, ma
Posts: 35
I don't know much about I-banking but I tend to agree with Dr.Horse and Wneckid99. I feel it's more about being a rational thinker and using some common sense in the end. Along with extensive research on different options. Psychology plays a huge role in how people invest. You just can't be a fearful or wary person. If you've done the research you need to stick it out and hang on for the ride with your investments.

As far as investing goes in general it's like that age old story, people watch their stock plummet and wait for it to go back up. But it never does go back up to where they want it and when they want it to. So they dump on it and immediately afterwards the stock starts to jump back up and people buy back when it's back where it originally was. People lose a ton doing this. You don't think this happens but it does, even the smartest people in I-banking and the finance industry make irrational decisions from time to time just like the average joes.

The biggest reason is because people are in it for the money. They love money so much that when they see their investments doing bad they equate this with losing money(which they are), which to them is the worst thing in the world(in the finance industry). But I like to think of it as more of a game. It's like fantasy baseball, if you will. You draft your team. Dump some of your guys before they start doing awful and make a better investment in another option(player) who has proven themselves or are starting to go up. Rookies are the highest risk investment- year end could have a huge return or medium return or likely none at all. Veterans are like bonds- you know what to expect from them and they will put up decent numbers. Then there are the all-stars- medium amount of risk, usually good return but the chance of doing bad is always there.

It's obviously a thrilling profession but I think the guys that love to gamble(i.e. win, doesn't have to be money) and view it as just a game do far better than those who just want money and play for $$$. The ones that play the game just have the $$ as an added bonus for the love of the game. I could be completely wrong here but this is how I see I-banking. Go watch Wall Street(the movie) if you think money is everything and where it gets you thinking that way =D haha
rand0m87 is offline   Reply   
Old 03-15-2008, 12:23 AM   #126
Member
 
Join Date: Apr 2007
Posts: 477
I recently found CC has a career forum and this thread was entertaining to say the least. I see a lot of people talking about banking, but I'm curious just how many of you are/have been bankers yourselves? I'm not seeing a whole lot of answers that lead me to believe than more than 5 of you know from first hand experience...
Spiders05 is offline   Reply   
Old 03-15-2008, 12:34 AM   #127
Senior Member
 
Join Date: Jun 2007
Location: Boston->Ann Arbor
Posts: 1,238
you're right this isn't a chances thread. My bad. I was asking more because a lot of the people in my school go and work for like the banks in Cleveland like Key and National City. I don't want to do that. I want to be on Wall Street. No I don't go to HYPS, or any ivy league or super prestigious school. I go to a very good school and that's all.

and YES, my username is sachmoney. I've used it for all my usernames for a while. It's something that I made a long time ago, and has stuck with me since like the fourth grade. I like money, but I wouldn't say I'm obsessed with it. Certain family members would disagree...
Sachmoney is offline   Reply   
Old 03-15-2008, 12:45 AM   #128
Junior Member
 
Join Date: Mar 2008
Location: lynn, ma
Posts: 35
YouTube - unofficial guide to investment banking

Thought this was funny. Not sure if THEY are located in New York but this is pretty informative for those that want to become analysts.
rand0m87 is offline   Reply   
Old 03-15-2008, 02:59 AM   #129
Senior Member
 
Join Date: Jun 2006
Location: SoCal.
Posts: 3,018
If you aren't interested in IBanking because of the money you are lying or dumb.
Mr Payne is offline   Reply   
Old 03-15-2008, 08:13 AM   #130
Member
 
Join Date: Mar 2007
Location: CT
Posts: 625
where does financial engineering fit in in all of this?
ramaswami is offline   Reply   
Old 03-15-2008, 10:00 AM   #131
Member
 
Join Date: Dec 2007
Posts: 496
Quote:
If you aren't interested in IBanking because of the money you are lying or dumb.
Or you have connections, or an understanding of a different path you'd like to take with better compensation, or you have the capability of getting a better position in the financial industry out of college than bottom of the rung at an investment bank.
Quote:
It's like fantasy baseball, if you will. You draft your team. Dump some of your guys before they start doing awful and make a better investment in another option(player) who has proven themselves or are starting to go up. Rookies are the highest risk investment- year end could have a huge return or medium return or likely none at all. Veterans are like bonds- you know what to expect from them and they will put up decent numbers. Then there are the all-stars- medium amount of risk, usually good return but the chance of doing bad is always there.
These analogies and references to movies are getting very annoying. I don't mean to insult you, but this isn't a game. Anyone who treats it as a game will probably have a relatively short career in the financial industry, and if they make a transition to an asset management position they'll most likely destroy themselves.

A strong investor, whether they're institutional or private, must understand money management. It's about the management of risk. What you are describing is what novices do--they think about potential gains and exit strategies, which is in actuality the backwards train of thought. People who are more experienced, whether they be professionals or private investors, understand that unless they are moving enough capital to directly influence the actions of a company their primary focus must be managing the risk they take on. You're thinking about potential losses more than you are about potential gains, and if you make a trade without a clear understanding and assessment of what kind of loss you're willing to take you're trading recklessly.

Most investment bankers are boring and annoying. Most doctors are unattractive and perform disgusting tasks. Most lawyers never make a great speech inside a court room. These are fantasies. You know what sound a frog makes? Ribbit, right? Wrong. There are a multitude of species of frog, and each one has a different call. The main frog that goes ribbit is the American Bullfrog, and when Hollywood needed the noise of a frog they used that one. In "The Other Boleyn Girl" they call Henry "your grace." Over and over again. Multimillion dollar movie. Period piece. In all the advertisements.

My grace is what you call a duke. Your majesty is what you call the king. Your majesty used to be God, but the first person who styled themselves as majesty was... Henry VIII. The king portrayed in the movie. He would have executed anyone who called him "your grace." You'd think with all that money spent on a period piece they'd, you know, catch that, right? Wrong.

The reason for my little diatribe is that everything you seen in Hollywood is fake. What Hollywood has produced is the conception of what life is in a multitude of professions, notably "high" finance, medicine and law. Never apply anything you think, without knowing where that thought comes from, to the reality of a situation. Yes, plenty of people in finance do cocaine and they drive sports cars and they have sex with hookers. Yes, they try and life fast. No, they don't do that in their workplace, because a multitude of elderly white men could destroy their careers forever with one mistake. It's not a game.

Last edited by tetrishead; 03-15-2008 at 10:19 AM.
tetrishead is offline   Reply   
Old 03-15-2008, 10:27 AM   #132
Member
 
Join Date: Nov 2007
Posts: 344
I need someone with experience to answer this. If you have the opportunity to go directly from undergrad into hedgefunds or private equity, is it worth it to skip investment banking? I've heard that i-banking can provide invaluable experience, yet, if you have this opportunity to make more money in a less insane environment directly out of college, should you go for it?
johnnyhoward3 is offline   Reply   
Old 03-15-2008, 10:35 AM   #133
Member
 
Join Date: Apr 2007
Posts: 477
johnny, banking provides you a great background for anything in finance and can help you make some valuable connections with people but if you have the opportunity to work PE at a 220, then go for it, as you'll get all the training you need there. That's an area where you can actually work les than IB but potentially make more.
Spiders05 is offline   Reply   
Old 03-15-2008, 12:20 PM   #134
Member
 
Join Date: Mar 2007
Location: CT
Posts: 625
your grace

tetrishead, you may know a lot but you are mistaken. Your majesty is a more exalted title most commonly used on the Continent, by French and Spanish sovereigns. English kings are called your highness or your grace. Your grace was very properly used to address Henry.
ramaswami is offline   Reply   
Old 03-15-2008, 12:59 PM   #135
Member
 
Join Date: Nov 2007
Posts: 344
Thanks for answering Spiders05
Another question. How is consulting in terms of being a spring board into HF, PE, or VC? I might like to do that because of the travelling involved, I think it would be a great way to spend a couple years out of college.
johnnyhoward3 is offline   Reply   
Reply

Bookmarks

Thread Tools



All times are GMT -4. The time now is 05:25 AM.




Copyright 2001-2011, Hobsons, Inc., All Rights Reserved