Investment banking AMA

hey man, im a recent college grad, didn't get any internships in IB so cant really break into it now that I graduated (graduated in march). Im 21. Any advice for what to do? Currently unemployed looking for work don't know what to do.

Also do you hold crypto? If so what's your folio?

no one is ever talking about beating inflation, jesus what a mind numbingly boring task.
head for fixed income. sure debt markets have something that suits you

I mean which kind of statistics do you preferr to handle with the risk? Montecarlo?

Congrats on graduating bro!

(1) figure out what you want to do, get passionate about something
(2) relentlessly indulge your passion and produce something worthwhile and interesting
(3) find someone you'd want to work for. send your work product along with a message explaining why you want to work for them.

good luck.

I do not hold crypto.

appreciate the responses user. if i remember any more questions ill post itt if its still up

ive heard that a lot of grads that go into IB try and get into private equity after a few years, is that true? also do you get stuck into some stock options contract that matures after x amount of years?

Entry level stock broker here, fully liscensed, taking CFA lvl 1 in June. Used to work in chemistry so I am chemically literate. I am also 30.

Do you have specialty analysts that examine niche markets?

How do I best into entry level analyst?

Will I hit some age discrimination at 30 during the interviewing process?

How long have you been at your firm?

Good luck on CFA

Yes equity research is broken up into coverage universes with teams covering them. These can be specific (ex. retail is broken up into broadlines, hardlines, specialty, grocery, etc).
I specialize both in my coverage and in my own research I do outside of work. Both are pretty specific.

Yes age discrimination will be heavy as entry level analysts are typically recent college grads with no life outside of work. They can be endlessly worked and won't complain. As a 30 year old you likely have less of a drive and also a family. You also might even know less than your decade younger competition. It would not be easy but I dont think anything is impossible if you grind. I would say get your CFA.

I have been there since I graduated

Yes PE is the most common exit for investment bankers. You don't get stuck - no one wants to stay beside psychopaths.

>believing the measure of success is being able to eat what you want and not whether you can purchase property and send kids to college
third world pajeet detected

>i do not hold crypto
Why are you here u fucking retard. This is a biz board not a fucking diary

i make $950k a year as a doctor. do you feel powerful and rich?

what do i need to go to school for to be a investment adviser and stuff?

I always wanted to work at a job like that where i can climb the corporate ladder and also be in an office.

>i make 950k a year as a doctor
no you don't.

>Entry level stock broker here
Do you need a degree for doing this?
Economics?

youtube.com/watch?v=bS8CP1A6OCQ

You are so stupid it'd be cute if I didnt feel sorry for those that rely on you.

"Biz board" for people who know literally nothing of business nor economics. People who trade the fraud excrement of a bubble from a technology they don't understand. Good luck with your "biz board".

> 100k in new york
So pretty much $25,000 in every other part of the country. How are those 80 hour work weeks treating you you fucking slave

Did I write or ever even imply what I thought success was? You're boring

you're boring too. we're here to talk business so sit down

Thoughts on Xrp?

Nah, I have a degree in biochemistry. A degree will help you get through the door, basically everyone I work with at this level has a bachelor's. The only other kid that's on my level if smarts has an even degree. He's studying for the CFA as well and we're study buddies.

I beat his score on the 7, had an 87 where he had an 83. Anyways, firms will hire you and train you to get you liscensed if you get through the door. Shit start pay but you need to start somewhere. For me it's worth it just to get my foot in the door.

I work more than that and it's humbling. You are the potent combination of 'holier-than-thou', lazy, and stupid. You're like an animal, that can only think of their current comfort level. Are you incapable of enduring discomfort for a better future? The people in your life likely view you as the child you are. Next.

Also - 4x? very wrong. stay out of Manhattan you fucking tourist

My friend has been working at $2-3B portfolio NYC HF the last 4 years or so. He did the traditional Ivy League->JPM IB->PE->HF. How much you think he's pulling in as an analyst at this firm?

>even degree
Econ degree

Also the job doesn't require a degree but with all the overeducated millennials in the market I'm betting that piece of paper will give you better odds than not.

Also thanks for the info broseph

I was on the IB path for a little while. yes you can make 6 figures starting and get to 200-300k in 5 years but man its soul crushing work. years and years of making pitchbooks for sheklestein. and the money doesnt matter, youre just going to slightly upgrade your lifestyle as your salary increases without ever breaking the cycle. is this work really what you want to spend your life doing?

one day youre going to wake up and realize its all bullshit. youll be tied into a job you dont like, but you wont be able to leave because your expenses bind you to your salary. this is a midlife crisis.

I've seen quite a few people go down this route and they become some of the most miserable people ive ever met, even in their long island homes. not jealous of you one bit OP

Good for him it sounds like a great gig.

Depends a lot on performance so varies year by year. You can find his funds performance and fee structure (2% of AUM + 20% of returns is typical) and figure out firmwide revenue

He probably makes around $3-400.
If he has P/L attribution and has a good year maybe he makes a million

im not a banker im in equity research. looking to exit to a hedge fund right now actually.

banking does seem to be soul crushing. I do not make pitch decks and am fully focused on markets

smart move. equity research can actually be fulfilling, especially if your goal is to set up your own shop in a few decades

>
Nah, I have a degree in biochemistry. A degree will help you get through the door, basically everyone I work with at this level has a bachelor's. The only other kid that's on my level if smarts has an even degree. He's studying for the CFA as well and we're study buddies.
I don't have a degree... thy will never accept me

Only other option is to get someone inside to refer you. My firm loves references. Even offers a finders fee.

What was your last research about, research guy?

Imagine coming to biz for validation lmao what a fucking faggot you are OP.

>Also the job doesn't require a degree but with all the overeducated millennials in the market I'm betting that piece of paper will give you better odds than not.
Ok, you are right, these fucking zoomers. Education is a bubble. I am too poor for an education
I just need to fake my experience untill I make it

I want to make a savings account for my niece's college fund but I have no idea how banks work. Could you link me to something that'd help me understand? Is there a specific bank I should make my account in, or are they all the same?

Also, is your dad from Chile? I might know you...

Coverdell savings or 529 account.

Google it

>As a 30 year old you likely have less of a drive and also a family. You also might even know less than your decade younger competition

I'm fed up reading shit like this. People need to understand it is insane to think like this.

There's a good 40 years after someone's Twenties that they can arguably be of use, perhaps more, as healthcare improves.

If we don't decide what we're going to do for the rest of our fucking lives by the time we're in the early stages of our 20's, I guess we're just meaningless pieces of shit, that belong in the dirt.

>I work about 65 hrs a week from my job

>I do not hold crypto.

HAHAHAHAHAHAHAHAHA

Yeah it's bullshit, but hey, if that's 'general knowledge' what can you do. The only thing that changed when I turned 30 this year is my goals got more realistic, and I became less impatient and more diligent.

OP isn't in HR but hey, maybe what he says is true as far as general opinion. Or maybe he hasn't lived long enough to have a valid opinion on the matter. It is what it is. I'll just be expecting push back for the fact that I'm not a zoomer

You work 65 hours a week for barely more than 100k I'm NYC?

I don't envy you. Somebody working 40 hours a week in Kansas city probably saves more than you without even trying.

I'm certain that if I pass CFA lvl 1, my qualifications will be recognized.

Funny thread. OP slowly realizing he is a poorfag wageslave being exploited by his employer.

Jesus dude get your shit together.

only 100K while sacrificing the best years of your life! HAHAHAHAHAHAH
teachers in AUS get 83k, work 50% less day hours and get 600% more holidays than you. HAHAHAHAHAHAH

>100k
>Manhattan
>I work about 65 hrs a week from my job, not so bad. Including my own research outside of work I do around 100

Terrible, even @ 22 y/o. I didn't start working until I was 25, but I worked far less and made far more at 25, and in a cheaper market. People shit on law all the time but at least it beats the hell out of ibanking. Hope you legitimately find what you do interesting because I'd kms if I were in your shoes.

How do you feel about wasting away your 20s working 80+ hour weeks?

100k in New York is an average salary anywhere else.

Anyways fire yourself and go all in BTC you retarded faggot

>equity research
>investment banking

GTFO larper

Do you identify as Christian Bateman yet?

How will your money help you when Islam takes over, you are beheaded, and find yourself before Allah?

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that's rich coming from an exploited wagecuck hardo in a dying industry. you're blockbuster and netflix is creeping up on you day by day. but hey, enjoy your 65 hour work week goyim.

Maybe the point is to stack up savings and investments fast and then quit for good one day?

Lol you must be worthless 10m check in 03/07 is 20m in 2019 adjusted for inflation. Kys

I am completely aware I am a 'wageslave' and I am helping make my boss rich.
However, unlike you retards I am comfortable enduring some discomfort for sake of the future.
And it's discomfort I actually am very passionate about and is a very valuable skillset. Unlike for you guys, there is huge upside to my near term future. I will probably be at a hedge fund making over 250k by the time i'm 24. I'll may even be a millionaire by the time i'm 28. I have entrepreneurial ambitions, I will start my own hedge fund in a few years.

It's a year between 22 and 23. I analyze companies for investment opportunities, not work at McDonalds. It's truly fascinating work and my life's passion

Terrible reading comprehension makes you look like such an idiot. The reference was to the early 90s. I did not imply that event happened between 03 and 07

what did you study

>It's truly fascinating work and my life's passion
Oohhh waaaagiiiie?

I'm not going to hate my life like you hate yours. Nice try.

New yorker here. Would you hire a Jow Forums user for IT. I make 40k I want to make it fren.

Equity reasearch is pajeet tier, similar to data entry and you can't move from there. If you're not a quant you're basically doomed in that field.

>I work about 65 hrs a week from my job, not so bad. Including my own research outside of work I do around 100
>make over 100k

I also live in NYC. I work 37.5 hours a week, and because of that, I make more per hour than you do.

Yikes.

100k in NY is like 40k in rural America.

Dude I make over 100k working in a warehouse and I work 40 hours a week and I live in Iowa. I feel awful for you. The funny part is you think you're successful because you're better than the niggers working at McDonalds.

Audencia, France is a good school to work in the front office user ?

Quit fooling yourself or others, you don't know anything about finance

BASED

how many years of slaving away long hours do you think it'll take you to get to 10M in liquid assets.

Threads like this always make me laugh. this super insecure faggot has to make this thread so he can feel good about wasting his entire lifes efforts to live in a meme.

i have a cousin who is a VP. makes fucking bank.

Im assuming you're an analyst. i do not envy your job.

going to get your MBA?

way to out yourself as a complete retard

Eventually you've realised you've wasted your life and by that point you'll be dead inside. You wasted you twenties. How does that feel?

>I work about 65 hrs a week from my job, not so bad.

The state of it

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Holy fuck... calling people poorfags making approx $35/ hour

100k / 65 hr week / 48 weeks a year.

Assume you get 4 weeks vacation user with.

I was making close to 200k not inflation adjusted at 23 as an engineer working 50-60 hour weeks over 10 years and not in jew york.

Don't fall for the IB meme your getting replaced by algorithms

ibankers are almost always miserable assholes

I do not want your $20 / hour job. I make more than you per hour worked.

Hi op. Not trying to FUD.

How is being an IB being a productive member of society. From the outside look it looks like a bunch of fucking Jews making money on illusory markets that are artificially created.

If anything IB destroys societies. Again no fud. But that’s an outsiders perception. Can you tell me how IB is good for society ?

lmao at all these disabled "humans" trying to feel better about themselves by trying to knock OP down a peg

I don't think you know anything about markets or basic finance.

Investment banks enable companies to access the capital markets. This is a totally critical function for our economy.

Based

>250k by the time i'm 24. I'll may even be a millionaire by the time i'm 28. I have entrepreneurial ambitions, I will start my own hedge fund in a few years.

Sometimes the things you think will make happy end up making you unhappy. It's not always about the money. You're 22. You don't know shit.

fukken told

What do you do on a daily basis? I was making $100k at 22 as well.

So much larp in this thread. I'm sorry about the faggots OP.

>People who trade the fraud excrement of a bubble from a technology they don't understand.
So I'm not gonna make it?

>enable companies
Such as... ? Many companies are artificially sustained via banks and the federal reserve.

If a company needs to finance itself
via debt or equity
they use an investment bank

If companies were not able to access the capital markets, the economy would grow much slower. Everyone would be poorer. It's a supercritical part of the economy.

The Fed and QE is a separate topic

>manhattan.
>I'm 22 and make over $100k a year
that's like making minimum wage anywhere else.

I’m just going to get on disability and smoke weed all day, good luck cornering the market Gordon gecko

common jewish joke, fuck you go gas yourself faggot, just because you get to enjoy the benefits of nepotism does not mean you made it.

If you watch TV, what shows do the best job at portraying IB or hedge funds?

>works 65 hours a week
>100k/year
>in new yoahk
lmao Im glad Im not you OP

fuck you.

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There's a German production called "Bad Banks" which is pretty good actually.
If you don't speak German you can use subtitles and you can watch it for free with the "zdfmediathek" app.

>I'm certain that if I pass CFA lvl 1
how to pass this exam? What are the topics of that?

On biz. Doesn't buy crypto in a bear market. Literal neets on this board are already richer than you and will be much richer in two years. Unironically never gonna make it. How does it feel user?