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


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

  • barronsbarrons Registered User Posts: 24,897 Senior Member
    "we made a bad bet on CDO's, please clean out your desk."
  • UCBChemEGradUCBChemEGrad Registered User Posts: 10,277 Senior Member
    ^ LOL.

    I hear bonuses are going to be down an average of 20% this year. Oh the horror!
  • chrispmvchrispmv Registered User Posts: 3 New Member
    graduating shortly and I'm not expecting anything big in terms of starting positions, but does anyone have an idea of how long it generally takes for the industry to come back? I realize it's all speculation, but alot of banks are acquiring others which must create opportunity when conditions turn around... 12-24 months?

    i've noticed this discussion/thread has died over the past 12 months, anyone alive out there?
  • MalHHHMalHHH Registered User Posts: 21 New Member
    It'll be a long time before the compensation climbs back to 2003-2004 level. I think anyone that landed an interview should count their blessings as this is def a tough year.

    Consulting is going to become even more competitive with all the ibanking hopefuls trying to weather out the storm.

    My close friend got cut from lehman right before it went down and he's a mess right now. Most people are in it for three years; they put in their hours and then hope to god they can land a gig in PE/venture where they actually get time to breath. Getting cut on your third year is pretty disheartening.

    I'd say chill on the "networking" and remember that your "contacts" have their own lives and their own job to worry about at this moment.
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