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14-05-2015 12:12 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
WTF? Seriously, don't make everyone out to be like you.

Not everyone is as shallow and pathetic. There are many, many better and far more rewarding careers.
Chill it yo.

This forum does have a disproportionately large no. of participants asking banking / FI related career questions, so in that sense I would say yes most would probably accept if they were offered a job in investment FO.

Of course whether they can get it or if they can perform once they get in is another different story...
13-05-2015 09:53 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
regardless of all the bad things you all keep saying abt investment banking, just admit lar if a bank offers u to be a IB most of u would have grab it instantly...
WTF? Seriously, don't make everyone out to be like you.

Not everyone is as shallow and pathetic. There are many, many better and far more rewarding careers.
13-05-2015 10:27 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
only if thats the kind of job you want to be in. most people will want that money but not all will want that kind of job.
most ppl want money and no job, but throw enough money they still come.

now in sg its not like if u choose some low paying job guarantee will have work life balance or good boss, many low paying pmets are bully by foreign boss, work long hours and backstab by colleagues anway.

if its gonna be a sheet job, might as well take the $$$ with the sheet... at least u get compensated for it
13-05-2015 09:55 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
regardless of all the bad things you all keep saying abt investment banking, just admit lar if a bank offers u to be a IB most of u would have grab it instantly...
only if thats the kind of job you want to be in. most people will want that money but not all will want that kind of job.
13-05-2015 09:10 AM
Unregistered regardless of all the bad things you all keep saying abt investment banking, just admit lar if a bank offers u to be a IB most of u would have grab it instantly...
12-05-2015 11:28 PM
Unregistered Speaking of required reading material before joining the industry, I have another one to add to the mix: FIASCO: The Inside Story of a Wall Street Trader. About life on the derivatives desk at MS back in the day. I learnt what it means to 'rip your f**king face off'.
12-05-2015 07:48 PM
Unregistered
FO

buy the book called Monkey Business and you will see what IBanking is really like.
12-05-2015 11:34 AM
Unregistered you work for that banker money, thats for sure. it doesnt come easy.
11-05-2015 11:38 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Yep, couldn't agree more. It's also not all rosy once you get in too. There's a huge lifestyle sacrifice that you have to make. Working 9am-2am, earning big bucks and telling people that you're in IB may sound glamorous at first, but it wears off after a while.

It's tough. You are forced to survive on a lack of sleep, diminishing social circle, huge stress, etc. Furthermore, the industry tends to be volatile, which affects your job stability. Not all are willing to sacrifice that much for the money/prestige.
Yeah, the poster above is right. Long hours in the office that cost you sleep and social life will be the norm. Boss/customer demands that you produce that pitch book/research piece/sales credit/money making position by yesterday (meaning you are underperforming already) so yep, you better cope with or, better still, thrive on the stress.

Don't even talk about job stability. Maybe you have been lucky to made money trading or had the monster deal that paid damn a lot of production credits last year so that you can throw money at all the zabors in KTV or make downpayment on that limited edition Lambo. Guess what? Next year you don't make that same money for the firm and the bank hit a bad patch like kena fined or lose money, it's bye bye for you, especially if you are senior, expensive and not producing or inexperienced, dispensable and don't bring value to the table for seniors. Next year, after the bank recovers, they will just rehire new freshies that are willing to work their little fingers to the bone for less.

For the bright eyed bushy tailed ones that just joined, I am sorry to disappoint you. While the money is indeed better than other starting jobs out there, it is way less than what it is before and it will only continue to decline as tightening regulation crimps margins. There is one thing that will increase though, and that is the amount of **** each minion has to suffer as there are less of you around per senior/boss.

Prestige? Glam? Hahaha. Seriously?? You think people really give a sh*t if you are a 'banker'? A piece of advice for you from someone inside, join for the money and the money only, as the glam is only as real as what you can buy using the money and only for that brief moment. But then, see above part about the money and conclude that you are f***ed either way.

Still want to join banking?
10-05-2015 03:57 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Agreed, I am just here to dispel the myth of "First class" for IB.

I have known countless local grads with 2nd upper who are in IB FO. A simple LinkedIn search will suffice.

It's not that hard to get in -- IMHO, it's how much you want it. The implications of this statement goes longer and wider than what most people think. Working hard and doing well academically might not necessarily mean you "want" it enough... ;0
Yep, couldn't agree more. It's also not all rosy once you get in too. There's a huge lifestyle sacrifice that you have to make. Working 9am-2am, earning big bucks and telling people that you're in IB may sound glamorous at first, but it wears off after a while.

It's tough. You are forced to survive on a lack of sleep, diminishing social circle, huge stress, etc. Furthermore, the industry tends to be volatile, which affects your job stability. Not all are willing to sacrifice that much for the money/prestige.
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