How can I get into Ibanking?

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"I think this pretty much sets the new standard for copious usage of blanket statements (however incorrect, inaccurate, or inappropriate that may be)."

Shout of the Month! Hands down.
 
Takumi-

Wegowayback was showing an example of a person asking about the "50hrs a week and a lot of excel." He meant the example to show peoples misconceptions about I banking when they are on the outside and don't really do any basic reading on it.

From what I've read on here, it is more like 75-90/ wk
 
My brother in law works in ibanking in London. I agree that most people that get into ibanking are doing it for the challenges that it poses, but he even admits that women in bars do suddenly sit up and take a much deeper interest in him when he tells them that he is is investment banking.
 
numi Wrote:
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> I sleep very well at night, thank you.


not if you are a banker
 
numi Wrote:
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> CorvetteMan wrote:
>
> "investment bankers are truly a disgusting breed
> of individuals. the ivy league inclusive culture
> is a mask for nothing more than petty salesmen.
> they will push any deal through to boost fee
> revenue no matter the consequences for investors
> or corporations. not to mention how much you have
> to hate yourself to work those hours."
>
> I think this pretty much sets the new standard for
> copious usage of blanket statements (however
> incorrect, inaccurate, or inappropriate that may
> be).

care to comment on what part of my statement is inaccurate? if you want to be treated like a dog and lose all sense of human dignity i think it is a great profession. not to mention most bankers are probably the most arrogant and generally awful people i have ever met. sell side research analysts and investment bankers are the most crooked people on the street, hands down. there is no way you can dispute that fact.
 
"there is no way you can dispute that fact"

If you have to call something a fact, it pretty much guarantees it's not a fact.
 
CorvetteMan Wrote:
-------------------------------------------------------
> care to comment on what part of my statement is
> inaccurate? if you want to be treated like a dog
> and lose all sense of human dignity i think it is
> a great profession. not to mention most bankers
> are probably the most arrogant and generally awful
> people i have ever met. sell side research
> analysts and investment bankers are the most
> crooked people on the street, hands down. there is
> no way you can dispute that fact.

I'm glad you've supported your agrument with such convincing hard evidence.
 
"the ivy league inclusive culture is a mask for nothing more than petty salesmen. they will push any deal through to boost fee revenue no matter the consequences for investors or corporations."

I don't entirely disagree with that. I'm not sure I'd call bankers "petty". But they are, at the core, salesmen. And they will push any deal through to boost fee revenue. At least, if they're good. That's their job. Bankers exist to be advocates for a deal. The consequences for investors or corporations are none of their business.

As for them being crooked, I don't think that's particularly on the mark. I'd say that the typical retail-level broker is probably more crooked, if only because he has the opportunity to be, given that he is dealing with a less sophisticated client.
 
CorvetteMan wrote:
<<care to comment on what part of my statement is inaccurate? if you want to be treated like a dog and lose all sense of human dignity i think it is a great profession. not to mention most bankers are probably the most arrogant and generally awful people i have ever met.>>

Not really. I'd prefer to spend my time engaging in intelligent discourse and your posts simply don't reflect that. As Danny Boy and exemp pointed out earlier, these are simply blanket statements, broad generalizations, and general misconceptions that I don't really care to rectify since your opinion, while misinformed, doesn't matter that much to me. It would be different if you could cite some specific examples, such as various aspects of one's day to day tasks, that you find so disagreeable. Also, while it's unfortunate that you've rendered such disdainful opinions of people in this profession, I can only assume that this is a small sampling of the entire pool -- maybe a small handful of people, at most. I know dozens of people and I wouldn't characterize too many of them as being "generally awful" as you stated.

<<sell side research analysts and investment bankers are the most crooked people on the street, hands down. there is no way you can dispute that fact.>>

No, I won't dispute it nor do I really care to, since I don't feel the need to launch into a debate with someone who shamelessly denigrates my profession but clearly knows little or nothing about it, instead resorting only to broad-based, low-brow insults and poorly informed opinions that are misconstrued as "fact" in order to intentionally mislead.



Edited 1 time(s). Last edit at Tuesday, September 19, 2006 at 11:50AM by numi.
 
BTW, CorvetteMan, I should also point out that while it's unfortunate that you have such a negative opinion of bankers, isn't it possible that you might have said something to them that might rub them the wrong way? I mean, not to say anything of the posts you've made in this thread, but....
 
<<investment bankers are truly a disgusting breed of individuals.>>

<<sell side research analysts and investment bankers are the most crooked people on the street, hands down. there is no way you can dispute that fact.>>

You've made some pretty harsh statements, and managed to offend a lot of people in doing so. I have a number of good friends in IB/sell-side research, and I don't consider them to be disgusting nor crooked - in fact they are some of the nicest people I know. I'd really like to know how you came to such a conclusion. None of your posts give any supporting evidence that backs up the statements that you made. Perhaps you can provide us with some concrete examples. The only thing I can come up with is that you don't actually know any investment bankers or sell-side research analysts, and are basing your judgements off the few people that you've read about in the Wall Street Journal (Frank Quattrone, Harry Blodget, Jack Grubman, etc). If that's the case, you've made a character judgement about thousands of people by looking at the few bad apples - which is a pretty poor way to draw conclusions.
 
I heard that investment bankers sell poison milk to school children.
 
CorvetteMan Wrote:
-------------------------------------------------------
> investment bankers are truly a disgusting breed of
> individuals. the ivy league inclusive culture is a
> mask for nothing more than petty salesmen. they
> will push any deal through to boost fee revenue no
> matter the consequences for investors or
> corporations. not to mention how much you have to
> hate yourself to work those hours.

that is not a very nuanced opinion, but it does contain some truth. some companies push any deal through, some companies are ivy/nescac/top 25 exclusive, and some investment bankers are miserable people who hate themselves and their lives.
on the other hand, some investment banks are simply plying a trade, consulting their services out in a high value add field. they only hire from top schools, because it is a job that takes hard work, intelligence and the ability to deal with a challenge. and many people, especially intelligent people who are well educated actually thrive on a challenge, and thus enjoy their jobs.
 
as for how to get into investment banking as the thread began, get into a top 25 college or mba, make some connections and learn some stuff about the profession so when you go to interview, you can make some intelligent analyses.
 
What are my chances by becoming a Financial Analyst and then moving into Ibanking from there?

Numi,

Are you in Ibanking? I am new to this forum. If so, what group are you in and also if you don't mind saying which bank?



Edited 1 time(s). Last edit at Thursday, September 21, 2006 at 10:55PM by mambwe33.
 
No, I'm not in banking -- I'm in research. However, I was recruited mostly for banking in college, and I also have several dozen colleagues that work in banking, which is how I get most of my information. My other firsthand experience with bankers comes from having done job training them, working with them regularly on vetting companies for potential investment banking transactions, and carousing around town on the weekend nights.
 
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