<p>IBanking seems so popular on the forums, but I was wondering if this is a very hard field to get into. It appears to me that only those graduating from the top tier schools would be able to land an ibanking job, and even that is competitive. Also, I heard it's hard to break the field of ibanking..working so many hours for many years. So I guess what I'm asking is, unless someone is a top tier student, and can endure long hours, they really shouldn't even consider ibanking? I'm just wondering because it seems like so many people are SO set on Ibanking that they don't sound like they have something to fall back on.</p>
<p>Reason I believe people are so dead on about IB because of the money but they really don't consider their other options.
First off to survive in that industry you should do what you're good at rather its sells, law, advisory, etc.
Second be realistic on what you can handle IB has no social life, consultants travel very frequent, S&T requires some research & people skills but not much career pyramid.
Third you must think about of the future for when you have a family be vary that your child won't be first and can easily be pull into neglect no matter how many nannies you have; also your partner is could neglected as well if not working but even then will put a strain onto a the relationship including other issues that I won't mention so aspect couple of divorces & possibly child care payment (btw is 30% of your salary).
Fourth what you want to get out of working there is it the experience or what not.
Fifth consider rather you to work in a large firm where you'll get guaranteed $$ salary & bonus plus that where all the prestige is at or work in a small firm where you'll receive more or less $$ but better learning experience (1 on 1 with your mentor), more duties, yet move up the ranks quicker!</p>
<p>if you are interested in wall street, but not necessarily investment banking, there are many other types of finance work you can go into--equity research, asset management, treasury service/strategy. these have better hours, with lower but still considerable pay.</p>
<p>wall street is synonymous with investment banking and sales and trading. all other middle and back office jobs on wall street benefit from the prestigous of ib and s&t jobs.</p>
<p>What syncastar posted is right on the money, people are so enamored with ib cause of the money but they also forget to consider the toll on their health and even more importantly watch the news and hear about the major cuts banks are taking. The hot careers now are going to be engineers, not bankers.</p>
<p>simple is right, engineers are going to be hot and I'm seeing it happen already. I know guys who are talking about how they're going to go into engineering and are going to make so much money right out of school and it's only going to go up.</p>
The hot careers now are going to be engineers, not bankers.
I know guys who are talking about how they're going to go into engineering and are going to make so much money right out of school and it's only going to go up.
<p>in the long run, the average engineer can never make as much as the average banker. you seriously think an engineer's salary can cross 200k? the highest paid engineers i know are in the oil and gas business and they earn in the vicinity of 150-200k, and this is when they're in their mid 40s to mid 50s. Bankers can make that much in their late 20s after they start as associates</p>
<p>quag, thats excatly why im not going into engineering :)</p>
<p>but by all means, i encourage and support my friends. after all, that's less competition ;D</p>
<p>Engineers don't necessarily go into Oil & Gas Business, they can also head into Information Systems & Technology in addition to ib/mc/etc. When supply is high, then people are going to flock to that field. Engineering, Business, etc. it makes no difference.</p>
<p>Engineers may be the hot market but I can guarantee you statistic-wise once you research some colleges. You'll find banking is on top and will go higher when the economy goes back to normal. Economics is the highest & most popular major in the US. Did you know Commuter sci majors are decreasing as the years go by. Even Bill Gates said he have to surf into foreign lands just to get employees since so tech interest is low and those that work in tech they can where all the money is at. </p>
<p>I never understood why they never raise salaries for technologist because its them that's keeping the build up in the country most so than wall street. </p>
<p>Did anyone saw that special on CNBC "untold wealth"?</p>