[JordanS93]

Hi I have been reading these forums for a while now and I have a few questions about IB. I'm looking at the possible career routes in IB. So far I have attended a networking event with J.P. Morgan.

1) I've noticed a few people seem to post negative remarks about back office staff. Stating they are stupid or plebs. When I visited J.P. Morgan I spoke to a few back office employees and they seemed like nice people, I don't understand why I read so much negativity about bo staff online. Do you tend to get more people who come from working class backgrounds in the back office as opposed to the front? Why is there such a negative stigma attached to working in the back office?

2) Is every department in a IB very targeted and sales driven? Which departments are the most intense and which are the least?

3) What is job security like in the IB industry?

4) Could you guys name a few smaller banks? I know of alot of the larger ones.

Thanks again for any questions you guys answer. I've been thinking about these for a while now and decided I should just ask them in one post.

[JordanS93]

Damn 23 views and no one has commented. Surely someone must be able to enlighten me.

[non]

(Original post by JordanS93)
Damn 23 views and no one has commented. Surely someone must be able to enlighten me.

1. this is often debated and people often say completely different answers so i'm not sure. it's less competitive than FO so it's usually easier to get into it. it's has less working hours and less pay overall interms of bonuses but same base salary.
2. no, FO is most espiciailly trading least probably BO.
3. terrible but worst for FO trading not bad for MO and BO but worse than most other jobs
4. just research for boutique investment banks. i'm sure you can find examples out there.

[PrincePauper]

(Original post by JordanS93)
Hi I have been reading these forums for a while now and I have a few questions about IB. I'm looking at the possible career routes in IB. So far I have attended a networking event with J.P. Morgan.

1) I've noticed a few people seem to post negative remarks about back office staff. Stating they are stupid or plebs. When I visited J.P. Morgan I spoke to a few back office employees and they seemed like nice people, I don't understand why I read so much negativity about bo staff online. Do you tend to get more people who come from working class backgrounds in the back office as opposed to the front? Why is there such a negative stigma attached to working in the back office?

2) Is every department in a IB very targeted and sales driven? Which departments are the most intense and which are the least?

3) What is job security like in the IB industry?

4) Could you guys name a few smaller banks? I know of alot of the larger ones.

Thanks again for any questions you guys answer. I've been thinking about these for a while now and decided I should just ask them in one post.

1) BO doesnt generate revenue so they are not seen as the cool kids. Simple as that. BO is more about processing, not cool, but essential. From what I have seen, BO (especially MO which is considered BO anyway) can do the same hours as FO, but as they are not carrying risk when they leave the office, its a completely different life. BO staff can and does come from the same pool as FO, Its just that for FO recruitment they actively target top unis, so you will get "smarter people" overall.

2) Subjective

3) Loyalty to the firm is non existent, unless your aim is to climb up the ladder at the same firm. As long as you are not in the bottom 5% of your analyst/associate/VP/MD group, you will be fine

4) Erm, by you saying you know the larger ones, I am assuming you mean the american banks? Smaller banks would be other german, italian and spanish banks?

Examples... Commerzbank, Banca popolare dei monti di paschi, caixa bank respectively