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Day in the life of an investment banker...(this is rough)

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Replies to: Day in the life of an investment banker...(this is rough)

  • Penn15Penn15 258 replies1 threads Junior Member
    Go work on your excel & powerpoint skills, boys :)
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  • AlexandreAlexandre 24278 replies434 threads Senior Member
    That sounds about right Penn. And it is amazing considering we are talking about 22 year olds! LOL
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  • sempitern555sempitern555 3200 replies150 threads- Senior Member
    personally I think the french have it right with their mandatory minimal workweeks. What good is all that oodles of money if you can't spend time with those who matter to you. Psychological studies have shown that happier people tend to be people who have built strong relationships, not necessarily people with tons of gold bricks in their cellar.
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  • AlexandreAlexandre 24278 replies434 threads Senior Member
    Sempitern, most of Europe has mandatory maximum working hours. But even then, Europeans, especially those in important positions or those wishing to climb the ladder, work hard. But Amricans are workoholics. I have noticed that most Americans have their career as their firstor second priority and associate more with their work and profession than with anything else.
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  • mahras2mahras2 1938 replies39 threads Senior Member
    Actually Penn the compensation last year and this year reached levels seen in the days of the bubble. Its reaching peaks again. All the merger activity is creating this. There was a recent NYT article on this and the average compensation is climbing back to levels of 2000.
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  • TpeckTpeck 518 replies72 threads- Member
    Now isn't the hardest part...becoming a IBA after college?
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  • Penn15Penn15 258 replies1 threads Junior Member
    Well I agree that compensation has risen about 15% overall for Wall Street over the past few years. However, we won't see the payout that we've seen in 2000 for a while, and they will be more restrictions placed on these bonuses (ie stock based, etc)
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  • mahras2mahras2 1938 replies39 threads Senior Member
    Whats an IBA? IF you mean IBD then no you are accepted into your divisions when you apply. Sales and Trading and IBD are both equally hard to get into. S&T actually requires more technical knowledge and knowledge on math and probability than in M&A.
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  • dcfcadcfca 1515 replies37 threads Senior Member
    I think he means investment banking analyst
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  • MicaloA2005MicaloA2005 32 replies21 threads Junior Member
    So, with an econ major coming from Princeton, what would u say I have the possibility of making at an Ibanking firm. Also, when do these guys retire? I hear they burn out by 40 but they make enough by then to retire off on a small island that they have bought lol. Any advice, i could use it. Also, u hear ibanking is all in New York, what about Chicago? I would love to work as an ibanker in Chicago? is the pay the same and the like?
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  • dcfcadcfca 1515 replies37 threads Senior Member
    Yeah Princeton gets recruited from banking firms.
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  • AlexandreAlexandre 24278 replies434 threads Senior Member
    Princeton is a major hunting ground for IBs. And NYC is really the heart of the industry. You obviously have opportunities in Chicago, San Francisco, Miami and a couple of other cities around the US, but NYC is the hub.
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  • MicaloA2005MicaloA2005 32 replies21 threads Junior Member
    Thanks a bunch. Great advice.
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  • farbdogg71farbdogg71 649 replies75 threads- Member
    alexandre, would a leadership degree with a minor in any concentration of busines be any good? it seems like a leadership degree could do a lot of good in any area of the business world
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  • AlexandreAlexandre 24278 replies434 threads Senior Member
    What do you mean by "leadership degree"?
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  • farbdogg71farbdogg71 649 replies75 threads- Member
    well im going to the university of richmond next year and they offer a bachelor of arts in leadership. im just asking would that help at all or not? im still gonna major in it id just like your opinion
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  • AlexandreAlexandre 24278 replies434 threads Senior Member
    University of Richmond is a great place to study. You will have a great experience there.

    I am not familiar with the Leadership major, so I really cannot speak to it. What I recommend to all people, regardless of their major, is to learn about Investment Banking. Know what it is that they do, understand the mindset and lingo and get acquainted with the lifestyle and bahvioral traits of the IBsanker.

    Also, take as many classes as possible in Economics, Math/Statistics and Finance/Accounting. If you can take 4 or 5 classes in each of those 3 subfields, you will be in great shape. Furthermore. perfect your skills in at least one foreign language and in the use of report and presentation programs, like Excel and PowerPoint. If you can get to a level where you can speak a foreign language with ease and be an expert at Excel and PowerPoint, you will be much better off.

    Finally, PLAN! If you do not go to a school that is a major IB hunting ground, and I do not believe Richmond is a major IB hunting ground, you have to plan well and take aggressive initiative. But do not be discouraged, it can be done.

    Well, that's all I have to say...I think! LOL
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  • LarsLars 28 replies5 threads Junior Member
    I noticed earlier in this thread that someone asked what their chances as a Princeton graduate would be for becoming an investment banker..What i basically want to know is what my chances as a Fairfield University graduate, with a Finance major are..?
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  • Romo1Romo1 173 replies29 threads Junior Member
    Alexandre - I'm going to Babson College next year and I am interested in knowing whether IBanks recruit from Babson? However, I am more interested in consulting at this point, do consultants have similarly demanding schedules?
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  • dcfcadcfca 1515 replies37 threads Senior Member
    you guys should look around on the school's websites about recruiting, usually your school tells you if and when banks and other companies come.
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