Well that is not what is going on at my D1's firm. But it is anecdotal info.
We would all like to believe we are invincible. It's really not that much different than when you are rotating out of a forward operating base and you're mentoring the incoming unit during this transitional period. Then a few days after you leave, you hear that they took casualties on a patrol. There will always be a few d*p****s that try to come up with the "whys" and "hows"; they will believe that they were somehow more better than the other unit because they did so-and-so better or they came from wherever. No. You were lucky, they weren't. Sometimes, it's as simple as that.
cbreeze4680 replies88 discussionsRegistered UserPosts: 4,768Senior Member
Polo, I wrote a rebuttal to that article but I deleted it. People are going to believe what they believe, but I find the article ludicrous; is it gospel truth what these two people from one headhunting firm say?
My son and morrismom's D who work in the industry say no.
Working in high finance is very stressful, time consuming and highly competitive. Many people get out after a few years because the industry is "up or out" unlike government employees where it is virtually impossible to fire anyone.Many of my son's friends who work in banking want to get out because cash bonuses are capped and stock bonuses are deferred.Many want to go into buy-side finance where my son is because bonuses are not capped.
I can see my son getting out of hedge fund in 15 years and into asset management or own a taco stand on a southern CA beach because he wants more leisure time.
In the "many applicants" for a low paying job.....this must be a joke. For example, San Diego state received 70K applicants and Harvard had 34K. It must mean that SD state is such a better school.
Like Bank of America, RBS has some big goals for the coming year, chief among them being the firing of several thousand investment bankers. (For those skeptical they can do it, according to a PowerPoint presentation presented yesterday, re: the “exits,” quite a bit of progress has already been made.)
Royal Bank of Scotland, Britain’s biggest government-owned lender, said it will cut 300 more jobs at its investment banking unit and is “on track” with its plan to exit businesses. RBS will eliminate 3,800 jobs at the division by the fourth quarter of next year, compared with an earlier target of 3,500, according to slides based on a presentation delivered by John Hourican, chief of markets and international banking, to analysts Monday. About 3,000 of the cuts will have completed this year, RBS said…The bank’s control of costs is “ongoing,” said Chris Kyle, chief financial officer of markets and international banking, at the presentation. “We will almost certainly hit this year’s number” in terms of the guidance, he said.
An entire generation of ibankers.... gone.
Their support staff.... gone.
Their researchers.... gone.
(Reuters) - Barclays' new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.
Remember Gordon Gekko from "Wall Street" and his "Greed is good" mantra? Well, it certainly was for Wall Street giant Gekko, who wheels around in limos, watches South Hampton sunrises, buys and sells precious art pieces like trading cards, and makes more money in a day than most of us see in a lifetime.
Back to Reality: First, we should note that Gekko does end up in jail. So there's that. And according to the U.S. Department of Labor, most investment bankers enjoy less South Hampton sunrises than long days in the office, since according to the U.S. Department of Labor, they work long hours.
The Department of Labor also says these people travel extensively, especially to other countries. All that for an average annual salary, according to the Department of Labor, of $72,060 - slightly less than Mr. Gekko.
FarrahMillet071 replies0 discussionsRegistered UserPosts: 1New Member
Sad to hear about it. For now, I am searching for some thoughts when it comes to investment banking and I found one through online: investment banking las vegas
isan201810 replies0 discussionsRegistered UserPosts: 10New Member
Hi everyone,
This is pretty irrelevant, and i apologize in advance for posting about this...
I am applying for IBanking internships right now, and I was told that to prep for technical questions in the interview process I should read the M&I Investment Banking Interview Guide, and the Vault Investment Banking Guide. I'm having a hard time finding these resources. Does anyone have a link or access to these pdfs?
Also, since I am entering as a junior to both schools, would I be able to stay an extra year at the school and get a GPA , because I know most people do junior internships, but I would not have a GPA by the time I apply for one.
Replies to: Investment Banking: Losing its Luster?
We would all like to believe we are invincible. It's really not that much different than when you are rotating out of a forward operating base and you're mentoring the incoming unit during this transitional period. Then a few days after you leave, you hear that they took casualties on a patrol. There will always be a few d*p****s that try to come up with the "whys" and "hows"; they will believe that they were somehow more better than the other unit because they did so-and-so better or they came from wherever. No. You were lucky, they weren't. Sometimes, it's as simple as that.
My son and morrismom's D who work in the industry say no.
Working in high finance is very stressful, time consuming and highly competitive. Many people get out after a few years because the industry is "up or out" unlike government employees where it is virtually impossible to fire anyone.Many of my son's friends who work in banking want to get out because cash bonuses are capped and stock bonuses are deferred.Many want to go into buy-side finance where my son is because bonuses are not capped.
I can see my son getting out of hedge fund in 15 years and into asset management or own a taco stand on a southern CA beach because he wants more leisure time.
In the "many applicants" for a low paying job.....this must be a joke. For example, San Diego state received 70K applicants and Harvard had 34K. It must mean that SD state is such a better school.
An entire generation of ibankers.... gone.
Their support staff.... gone.
Their researchers.... gone.
Feel free to share your thoughts about it.
Hope to hear any updates.
This is pretty irrelevant, and i apologize in advance for posting about this...
I am applying for IBanking internships right now, and I was told that to prep for technical questions in the interview process I should read the M&I Investment Banking Interview Guide, and the Vault Investment Banking Guide. I'm having a hard time finding these resources. Does anyone have a link or access to these pdfs?
Thank you!