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<p>i hate to prolongate this thread, but i just help but correct you on this gross misconception. this is the same thing my disappointed high school AP History teacher said to me when i was a freshman at NU and told him i think i wanted to be an i-banker. then i asked him what an ibanker does exactly and he said “they take rich people’s money and invest it for them.” as i went through my freshman year and sophomore year and learned more about all careers in finance, i found out that’s private wealth management, not ibanking.</p>
<p>the point being, a lot of people like to have opinions on how terrible IB is, but few know what ibankers actually do. Ibankers dont create anything? How about creating more efficient companies by advising firms to merge together? How about saving lives and making individuals daily lives easier, by helping healthcare and technology company raise billions in capital for new ideas? What about creating high-yield investments for individuals by having huge multinational corporations go public on the stock market or issue bonds? All of these activities work to create wealth that not only favors big businesses, but individiual shareholders as well. I wouldn’t call all of that “bull****” work. im talking about investment banks as a whole here, not individual analysts who have to put together pitchbooks, obviously there will be lots of BS work at entry level in any career.</p>
<p>Besides all of that, I think students have a right to go into whatever field they want to. Just because you dont like ibanking doesnt mean Northwestern students (and ivy league econ majors everywhere) are suddenly corrupt and heartless, thinking only of their own pocketbooks. First of all, there’s nothing wrong with going where the money is–whether you are a kid from the projects or a prep school ivy league boy with a family history of success, it’s totally reasonable that young kids would want to grow up and be rich. Second, humanitarianism and capitalism are not mutually exclusive–just look at the advent of microfinance. Furthermore, programs like Teach for America (which i would argue does a LOT of good for the community) work closely with investment banks and other financial institutions to attract those students who want to give back to the community before pursuing their own individual ambitions. Lastly, one can do a lot more good for the world being a billionaire than being anything else; some of the greatest philanthropists in history have been the super-rich. </p>
<p>As for the being cutthroat part, an MD at the bulge bracket private wealth firm told me: “Always help people. Go out of your way to help people, do whatever you can. Not only is it the right thing to do, but you never know when you will need a favor from that person.” Personally, I know many people in my graduating class who I have helped learn more about finance and help set them up with jobs by getting them in touch with the right people, or help them get into finance clubs on campus to learn more about the field. Maybe some people are cutthroat d-bags, but those people exist in all areas of study, not just business. For instance, i’ve heard of pre-med students who don’t help others with questions on material because they dont want to risk the curve being higher. These people are looked down upon in society, and they may end up being successful but when they need help from someone else, they will be lost.</p>
<p>I know that was a long post, hope it didn’t come off defensive/confrontational, I just think some of you on this board are grossly mistaken in your perception about the desired career paths of high-achieving pre-business students today.</p>