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04-02-2014 09:44 PM
Unregistered Hi. I'm a fresh graduate (early 20's) currently in my first year of a 2-year IB graduate scheme at a European IB. I work with some pretty smart people within a very niche yet influential team. And while it's hardly a typical 9 to 5 set-up, the challenges of the position and the amount I learn from these makes doing such a job all the more appealing. The perks are pretty good too. My pay is SGD$85k. If you are young and serious about banking and can get onto an IB grad scheme, do it. Good luck
04-02-2014 11:49 AM
Unregistered And why not? If one can earn $m within 3 - 4 years, you can be a millionaire before 30. After that, you can do the "normal" kind of work and cruise till retirement.

If invested well, the $m can balloon to even more by the time you retire at 45.

Quote:
Originally Posted by Unregistered View Post
The hard part is getting in.

I'd take it w/o hesitation if I can get in.
04-02-2014 10:06 AM
Unregistered The hard part is getting in.

I'd take it w/o hesitation if I can get in.
04-02-2014 01:15 AM
Unregistered How much is your salary during the 4 years in IB?
01-02-2014 07:58 PM
Unregistered I worked 4 years in an IB role. Not much life. Constantly tired, stressed. Years 25-29. It's ok if only for a short while for the exposure and to absorb some positive stress to cultivate your own work ethic. IF you start out in a 'nua' environment, culture shocks are what awaits you when you finally switch jobs. Right now I am in a different bank but am managing stress very well for myself purely because of the hell I went through. Self chosen path and a rite of passage that usually pays dividends.
06-01-2014 10:53 PM
esze001 all the people I know could only take 2-3 years of working in a IBank, it's just too stressful but no matter what people say you wanna try it out yourself.
06-01-2014 08:08 PM
Unregistered Well I guess for most people, if they get the IB job most would gladly work the long hours. For those who don't, they can always comfort themselves by going into a less stressful job and be paid for the amount of work they put in. Anyway money is not everything. If you are in a work environment where everyone gets high pay, you won't feel very rich anyway comparatively.
06-01-2014 07:46 PM
Unregistered I used to be a high flying MNC executive. After working so many years in a highly stressful and unhealthy environment (I got really ill), I decided to retire early to take care of of my ailing health. I managed to pay off my condo mortgage and all my loans. Now I am getting $80k of passive income from stocks dividends while my wife earns $120k pa. Due to no loans, our expenses are now much lower at $70k pa. My net worth is now $1.8m while my wife's net worth is $600k. Most of my net worth are in my condo and stocks.
06-01-2014 06:42 PM
lordlad
Quote:
Originally Posted by Unregistered View Post
there is a price for everything. the long hours and unhealthy lifestyle may mean you can retire early but it also mean you may die early or even die before you could smell the roses and retire.
sorry but i beg to differ.......working hard will not make ppl die young....it's only the stress that puts on the mental pressure that can take a toll on the body..

however, just because one is working hard doesn't mean he is under 'negative' stress....

For example, i am doing a project last year whereby i promised to get it done before 2014 hits. It's a stress for me to hit this target but it's a self-imposed stress (i am the one that came up with the timeline) and at the end, i am proud and satisfied that I imposed that.

If there's no stress, nobody will do their work with urgency. Those that suffered from 'negative' stress disorder are those that put emotion into their work....whether they are frustrated at the clients/boss or the lack of progression at their own plight, etc....

my method of working is to keep my emotion attachment to the company and colleagues to the bare minimum. You can smile and socialise with them during lunch and after work, but ultimately, keep a distance with them, do not have any emotion attachment with the work, the ppl and the workplace itself, be it negative or positive. In that way, you will not be affect by 'negative' stress.

That's how i did all these while. For me, i don't love or hate my work, or my company. To me, the company or the work itself is unimportant and irrelevant. It's the result of my work and what it can get me that I am attached to. My quality of work directly and indirectly affects what I can get/have, as such, i strive for the highest quality......but ultimately, i don't really care for the company, the people or the work itself. I bear no resentments if my boss never promote or increase my pay. I just go and open up for new opportunities......

my 2 cents..
06-01-2014 04:26 PM
Unregistered
Quote:
Originally Posted by lordlad View Post
but put in perspective....it is because of the long hours and unhealthy lifestyle that you can afford to have the capital to put into investment so that you can just rely on that now for passive income...

nothing drops from the sky...especially money. if you want it, you have to work for it. Not saying hard work equals high returns but laziness and the reluctance to work hard will not get anyone anywhere...
there is a price for everything. the long hours and unhealthy lifestyle may mean you can retire early but it also mean you may die early or even die before you could smell the roses and retire.
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