Considering becoming an investment banker

[Anonymous No.53683863]

Anon is considering to become an actual investment banker. Redpill me on the education needed, the career and the earning prospects. I know that I'll have to work 120+hours.

[Anonymous No.53683876]

>>53683863
just try it out for a little bit and see if it is for you

[Anonymous No.53683912]

Education part is easy just get a good gpa at a target school and you’ll get an IB job somewhere out of college. A lot of really smart people make the mistake of going IB thinking it’ll be mentally stimulating or whatever but it’s the most mundane shit ever. You don’t need to know obscure finance knowledge to do the job well a high school dropout could easily be trained to do the job of an analyst.

[Anonymous No.53684006]

>>53683863
IB is no different than law, medicine, upper level management in both the public and private sectors, piloting, politics, etc in that your job is your life. If you are cool with that, want that and can embrace that then by all means go for it. Assuming you’re not a dumbfuck the actual day to day details of the job and what you need to know is pretty inconsequential. You just need the drive, the ability to withstand a lot of stress, the ability to maintain focus while working long hours and the willingness to sacrifice pretty much every other aspect of your life.

[Anonymous No.53684013]

>>53683863
I haven't done it, but considered it for awhile and like half of my friends do it.
>education
Like anon said, you need to go to a good school, get good grades, and network your ass off. That means random trips to NYC or Chicago for a 15min "coffee chat" with a banker so they can make sure you're not autistic before they pass your resume on. The recruiting is pretty tough and the interviews are a shitshow, start with the 400 IB questions that you can find a free pdf of on Google to see what type of shit they'll be asking for analyst roles.
>career
You're a whore for the client/every banker above you. Spend all day feverishly working on excel models or sitting and waiting to be told which excel or powerpoint needs updates. Lots of insane personalities that scream at and abuse people. Lots of coke, lots of bros, lots of vaping, lots of alcoholism and getting shitfaced. 100hr weeks until you are an MD bringing in business
>earnings
150-300 for analysts which are your first 3 years. at this point you stick with IB and become an associate(up to 600k)>VP(up to a mil)>MD(mils to tens of mils) each stage of which takes 3-5 years except for VP which can last close to a decade or you just get kicked out. a lot of your pay is variable so in down years you might only get half those numbers. also, this is more BB than MM, there are some really shitty small sweat shops you don't wanna work in where they'll have you cold calling warehouse owners in iowa to drum up business
At the end of the day most people do banking for money obviously, but also for exit opps into PE/HFs/VCs. You're putting together deals for companies that want to buy or sell companies including themselves. You run numbers to know what prices are right, grovel to the customer, grovel to your boss, and are basically a highly paid slave. Also can go work for a F500 after.
tl:dr the pay is good if you can hack it and you should have a plan to exit into a more lucrative industry with less abuse

[Anonymous No.53684082]

>>53683876
Kek

[Anonymous No.53684169]

>>53683863
IB's will be replaced by ai faster than truck drivers
if you're jewish and well connected, maybe you can stay on as a spokesman, to make it look like humans are still needed, but otherwise you're gone in the next few years