Hey there,
So I'm assuming that you're interested in a career in finance, and have probably been attracted by one, or more, of the following reasons:
1) High salary
2) Fast-track career path
3) Great future prospects
If so, you have every right to apply. I'm not writing this to discourage anyone. However, this thread will aim to add a drop of realism into your dream-job drink.
About me: I left school in my A-level year, after zooming around various departments (Retail operations, Syndicated Loans, Investments) as an apprentice, I joined the Middle Office at the London HQ of a foreign bank. I've done stints in Risk at two top-ten banks since, and have met a lot of people, made a lot of friends, and heard a lot of stories about different experiences in the industry.
I'm currently making the effort to reconnect with old friends acquaintances. Some are a looking/feeling a little worse for wear after 1-3 years time. The people I know are mostly in back-office roles, compliance trainees, junior traders and a few M&A slaves. Recently, after a brief catchup, cut short by the ill-health of a one attendee, I feel duty-bound to spread some awareness here.
Assuming we all know of the tragic case of Mr Moritz Erhardt, the BoA intern who worked himself to death pulling a few consecutive all-nighters for M&A. Although this is an extreme example, I know many people who suffer from stress & anxiety which have led onto more concerning cases such as high blood pressure, pneumonia, even cancer.
To reiterate: I'm not trying to sell you some nightmare horror story of how bad Banking can be. I'v enjoyed most of the the time I've spent in the industry; it's been hard-work, but rewarding. I know people that have flourished in the competitive environment, and will probably retire before 40. However, I'm aiming to switch to Accountancy by 2015; There's a job you can take away with you - when did you ever hear of a guy who left HSBC to start his own bank??
This thread is just to let you budding financiers know that if you've set your heart on banking simply because the pay is good, or the future prospects are promising, that you'd better seriously consider whether you're up to the demanding workload you will almost inevitably experience. If you've got future career plans that don't directly involve or require a banking background, there is probably a more viable route to will get you where you need to be.
To all of those who understand the environment, challenges, and demands - happy hunting, & may the odds be ever in your favour!
Cheers,
TDWM.