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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)

  • Malishka31Malishka31 Registered User Posts: 2,971 Senior Member
    yep i am from a ca comm college, the only thing i need to do is make a killer essay. Which i fear is going to be hard.



    http://talk.collegeconfidential.com/showthread.php?t=82441&goto=newpost
  • br9172br9172 Registered User Posts: 85 Junior Member
    I was going to create a thread for my question, but seeing that there is already an investment banking thread i'll post it here.
    I am going to be a senior in HS this fall and I have been looking into IBanking as a career. I read all of the posts here, but still have some questions:
    If I can't get into a "good" school or a business undergrad school like Stern or Wharton, should I even bother? I'm planning on applying to SUNY Binghamton and Stony Brook, NYU (not Stern though), BostonU, Columbia, and the CUNYs (pulic NYC schools), most of which are OK schools but probably don't get recruiters. And there is a CUNY that is more business oriented (Baruch) which I'm planning on applying to through the Honors College (i can only choose 1 CUNY for this). Could anybody tell me if this school would be any better than the others? And would my chances at getting a good job as an analyst be ny different because I am a hispanic female? Is investment banking more of a man's career?
  • quakermanquakerman Registered User Posts: 231 Junior Member
    Yes ibankers are very good people and are very important to society like doctors...which justifies their 500k salary..Honestly though, if you are enough of a monkey to go into IB, then you deserve the terrible QOL and hours.
  • Solaris1007Solaris1007 Registered User Posts: 56 Junior Member
    I don't like that description they try to make it sound like a horrible job w/ is so stupid some people like and for others its just torture like any other job....
  • TpeckTpeck - Posts: 590 Member
    br9172 from what I know, there are people who come from regular state schools and get into IBanking. All you have to do is go to the "big name" schools career fairs and hand out your resume to Ibanks recruiting there.
  • br9172br9172 Registered User Posts: 85 Junior Member
    thanx Tpeck, that's good to know.
  • raneksinraneksin Registered User Posts: 128 Junior Member
    I will be starting college this fall, majoring in business economics at UCLA. Does anyone know about the possibilities of getting a good i-banking job out of UCLA, what i-banks recruit from there, and if business economics is an appropriate major for i-banking?
  • frenchimanfrenchiman Registered User Posts: 1 New Member
    Did it ever occur to some people here that some I-bankers like their jobs?
    What you've read about the 80+ hour work weeks applies only to analysts. That lasts two years. Or that time period can even be skipped by getting an MBA instead. After that work hours settle more and more and salary keeps on rising.

    I have just a few questions about I-banking that I would really appreciate to be answered:
    1. The next step after associates comes assistant Vice President and vice president. I've found that it takes 2-4 years to move up from associate position. My question is: is every associate guaranteed to be promoted to vice president within 5-6 years? Because surely there are more associates then VPs, so every associate cannot become a VP. So how does this work?

    2. After getting an MBA, and applying to a leading I-bank, do they care where I finished by Bachelor's and what my high school marks were?
    Because I'm about to apply to a very average local university and plan to get Bachelor's there. After finishing with a great average I plan to get an MBA in a top US university (Univ of Columbia probably). So when I apply for the job, will they ask howcome I studied at such a crappy univ for first 4 years? or will they only regard the univ where I got the MBA from?
    By the way, I am from Canada. In case I dont make it to a US univ, what are my chances of getting an associate position in New York after finishing Masters at University of Toronto?... if there are chances.

    Thank you very much
  • futurenyustudentfuturenyustudent Registered User Posts: 5,366 Senior Member
    Given the choice to do one of the following:

    Option A. You work 40 hours/week. You make $100k.
    Option B. You work 100hours/week. You make $300k.

    I'd choose option B so that I won't have to worry about money.
  • dyip10dyip10 Registered User Posts: 532 Member
    UCLA biz econ is a good major to get an IB job in a LA office. Some IBs that recruit at UCLA:

    Goldman Sachs, Lehman Brothers, UBS, Morgan Stanley, Piper Jaffray, Jefferies & Co, Wachovia Securities, Wedbush Morgan & Securities
  • CheapseatsCheapseats Registered User Posts: 932 Member
    its good to see raneksin got his answer 9 months later.
  • dyip10dyip10 Registered User Posts: 532 Member
    Whoops.... didn't read the date on it.
  • dcfcadcfca Registered User Posts: 1,552 Senior Member
    Did it ever occur to some people here that some I-bankers like their jobs?
    What you've read about the 80+ hour work weeks applies only to analysts. That lasts two years. Or that time period can even be skipped by getting an MBA instead. After that work hours settle more and more and salary keeps on rising.

    WRONG.

    If you think after getting an MBA you're going to be working less than 80 hours a week you're kidding yourself. Look more into it and you'll see that you consistently work heavy hours (80+) especially if you want to keep advancing.
  • AllorionAllorion Registered User Posts: 355 Member
    Besides that, you usually need a significant amount of work experience to get into the top schools for MBAs.

    Recruitment on the west coast consists of Stanford and UC Berkeley only for most investment banking lists I've seen. I haven't seen a top investment bank have UCLA on their recruitment schedules at this point or any other CA school.
    That doesn't stop some people though; it's simply somewhat harder without firms coming onto campus.
  • AlexandreAlexandre Registered User Posts: 24,630 Senior Member
    dcfca is quite correct. I was an analyst for 3 years after graduating from college, partly with Lehman Brothers and partly with Goldman Sachs. I worked an average of 80-90 hours/week for all three years. However, I can seldom remember a week when my boss didn't work longer hours than me, and she was a 15 year veteran of the IBanking industry.
This discussion has been closed.