Short career in I-Banking
 

A former classmate told me that most investment bankers have relatively short i-banking careers. In fact, many start their second careers in less lucrative sectors before they hit 35.  In investment banking, It's either "up" or "out". That cruel.

So, why am I still waxing lyrical about investment banking?

Say you graduate with a good MBA at age 25 (add another 2 years if you serve NS) and start your career in i-banking. In the next 10 years, you can possibly and quite easily make an average of US$200k per annum. If you are prudent enough not to splurge on Ferraris or Lamborghinis, you should be able to save at least US$100k every year. In 10 years, that's US$1 million.

You're a freaking millionaire by the time you "retire" from your first career. Get my point?

http://www.salary.sg/2007/short-career-in-i-banking/

16
 

what if there's market downturn or financial crisis?should it be a risky game or a sure thing?If it is so sure, where is the thrill of chasing the financial game gone?

18
 

Yes, the thrill is in the risk AND the reward.

Some people say that during a downturn, the financial services industry gets hit more than the other sectors. I'm not too sure about that, but given the rewards in this industry, it should be well worth the risk.

4159
 

I don't agree with Ariel on his point of view.

Because if you got the substance to be an investment banker, there is definitely got a "teaching as a profession" for him in Singapore if there is a financial crisis like now.

In addition, even though there is some so called saying that "if you do what you love, the money will follows", but the thing is as you said, investment banker is one of the few professions that enables one to make his first million in less than 10 years time.

If you make your first million, you have all the time to do what you love.