Is ibanking a good career choice?

[Anonymous No.182949]

Hello /biz/nessmen. Let's say I'm studying chemical engineering at a mediocre university in Canada. I want to make some real money, and not a shitty $100,000 salary. Should I join an investment bank? Should I start getting investment and trading experience while at university, even though I have a student loan to pay back? How much money would be realistic for me to make after five years or so? I don't mind working long hours, only money matters to me.

[Anonymous No.182978]

>>182949
>and not a shitty $100,000 salary
>this guy

[Anonymous No.182986]

>>182978
It's actually not that much where I live considering the average house price is close to a million

[Anonymous No.183026]

>>182949
I work in i-banking.

this happened last night:
>get the night off last night
>call up buddies who used to work in i-banking with me, now in private equity and consulting.
>head to bar in SoHo
>we eat, get plastered, have a great time.
>wind up buying drinks for a bunch of people
>ring up a $3,000 tap
>I say "i'll get this one"
>leave a $900 tip
>sign the bill "Nate Higgers"

[Anonymous No.183032]

>>182986
lel

[Anonymous No.183037]

>>183026
Looks like you're living the life. How many hours do you work, if you don't mind me asking?

[Anonymous No.183052]

>>183026
HAH

[dogeprice.net No.183076]

>>182949

>have connections
>ivy league tier university
>4.0 GPA statistics and math undergrad
>masters in finance
>Chartered Financial Analyst
>multiple internships

Yes? You might have a chance.

No? You will make more in chem.

[Anonymous No.183117]

>>183076
Or
>Warren buffet tier investor
Cancels out all of that nonsense
Op isnt warren buffet tier, because he is asking. Just pointing it out

[Anonymous No.183128]

>>183026
i've read that exact same thing happen to someone "last night" a few days ago. ha the odds

[Anonymous No.183204]

>>183128
someone posted the same thing a couple of weeks ago. I'm assuming it's copypasta

this twitter post is almost 2 years old
https://twitter.com/GSElevator/status/245349379484024833

[Anonymous No.183226]

For someone coming out of college yes, it's still by far at the top of the salary pile no matter how much lustre it's lost

Only problem is that bonuses are no longer what they used to be even if you're working the same hours, especially at the bulge brackets.

And just to set expectations, if you're studying chem eng at a mediocre university in Canada, you're not likely to pass the first hurdle. If you're only going to do it for the money, you won't survive 6 months on the job

[Amateur Venture No.183284]

>>182949
I-banking is a good career if you can work hard but aren't especially innovative. It's just as shitty as most other corporate jobs, but with better pay.

If you are creative and have an engineering background you'll do better identifying a problem and starting a business.

[Anonymous No.183350]

>>182949
The problem with you is that >>183076 partially right. He's exaggerating, naturally, but it really is hard to score in Ibanking.
People from top universities have a strong advantage because these firms target them for recruitment. Furthermore, they tend to form inside connections easier than people from no-name universities (due to alumni connections, visiting presenters, etc).
You need to have a high GPA (3.5+ at least) in order to not be written off as an idiot.
You need to have various internships, extra curriculars, etc, under your belt.
You need to know the market, what is going on with the firm being applied to, etc.

And all this usually just lands a painful 3-month internship where people work over 60 hours a week late till the night. All this just for the chance to do this for another 2-3 years at least. There is a notable burn out rate.

As >>183226 said, if you're studying Chem Engineering at a mediocre university in Canada, not only does that place you at a significant disadvantage, but sorta indicates the sort of person you are and the unlikeliness of you breaking into this world.

[Anonymous No.183387]

>>183350
Thanks for the advice. My GPA should be very close to 4.0, and I was considering getting an MBA at an Ivy league school. If I participate in many extra curricular activities and clubs, make connections, and get an internship at a bank, I will be able to tell if I'm going to survive this job before I sell my soul to them.

[Anonymous No.183560]

What the fuck is iBanking?

That shit is already called Crypto Currencies.

[Anonymous No.183581]

>>183026
>"Nate Higgers"
That's funny.

[Anonymous No.183763]

>>183560

investing banking you tard

[Anonymous No.183923]

>>183350
>>183076
Or you could know someone...
Bullshit averted.

[Anonymous No.184191]

>>182949
Resist the temptation to join i-banking.

You commit yourself to a lifetime of living in big cities, only a few will succeed with the big money, most will be on better than middle class money but with expensive commutes from far away (i.e. the suburbs) once you get married and have kids. You end up living what is an upper middle class lifestyle but working like crazy for it.

If you're an engineer, knuckle down and by your 30s you'll be very well off.

I graduated as an engineer but hated it, and went into banking. Now I work in IT.

[Anonymous No.184219]

Do it faggot. I am. Although, it's not for the faint of heart. Literally, you're going to have a heart attack if you can't take it.

[Anonymous No.184224]

>>183076
>4.0 GPA statistic
>statistic
>Currently doing a statistics class

This annoys me.

[Anonymous No.184226]

>>183350
>60 hours a week

What kind of pussy IB are you thinking of?

[Anonymous No.184360]

>>184219
elaborate on everything plz