3rd year IBD Analyst - ask me any questions... :)
...within reason, I will try and answer as many as possible.
To give you some background to me (without revealing who I am):
I used to peruse the IB&C forum a while ago, without ever really contributing and feel now like I'm in a position to give real advice to students hoping to break into the industry.
If this thread is constructive, I'm also considering setting up a Skype account to help with any other questions.
Best,
IBer
To give you some background to me (without revealing who I am):
•
3rd year Analyst at a top IB in London
•
M&A and DCM experience
•
Top 5 uni (undergrad in Economics and Masters in Finance)
•
Internships in Markets and IBD
I used to peruse the IB&C forum a while ago, without ever really contributing and feel now like I'm in a position to give real advice to students hoping to break into the industry.
If this thread is constructive, I'm also considering setting up a Skype account to help with any other questions.
Best,
IBer
(edited 9 years ago)
Scroll to see replies
Original post by theibanker
...within reason, I will try and answer as many as possible.
To give you some background to me (without revealing who I am):
I used to peruse the IB&C forum a while ago, without ever really contributing and feel now like I'm in a position to give real advice to students hoping to break into the industry.
If this thread is constructive, I'm also considering setting up a Skype account to help with any other questions.
Best,
IBer
To give you some background to me (without revealing who I am):
•
3rd year Analyst at a top IB
•
M&A and DCM experience
•
Top 5 uni (undergrad in Economics and Masters in Finance)
•
Internships in Markets and IBD
I used to peruse the IB&C forum a while ago, without ever really contributing and feel now like I'm in a position to give real advice to students hoping to break into the industry.
If this thread is constructive, I'm also considering setting up a Skype account to help with any other questions.
Best,
IBer
I am interested in Investment Banking and I wanted to ask you the following questions:
1) Would an introvert be good at the job/ enjoy it?
2) Are most of your friends (current) from work or from your past? (University, School etc.)
3) Which University is most represented at your IB?
Thanks
Original post by L'Etudiant
I am interested in Investment Banking and I wanted to ask you the following questions:
1) Would an introvert be good at the job/ enjoy it?
2) Are most of your friends (current) from work or from your past? (University, School etc.)
3) Which University is most represented at your IB?
Thanks
1) Would an introvert be good at the job/ enjoy it?
2) Are most of your friends (current) from work or from your past? (University, School etc.)
3) Which University is most represented at your IB?
Thanks
Thanks for the questions, responses below:
1) I think IBD is a very cerebral role and suitable for an introvert in the early years, though my view is that to rise through the ranks you need to raise your profile and prove you can manage client relationships.
2) Naturally, you meet a lot of like-minded people in your graduate class, so colleagues do become good friends (though with material flight risk as I'm discovering - lots are leaving for buyside). Having said this, I'm still close to most of my good friends from uni, many of whom do very different jobs (teaching, academia, science, government etc...)
3) Heavy Oxbridge bias where I am at, but a number from LSE, Durham, UCL etc. Lots of international representatives too (HEC, ESSEC, Bocconi etc)
Hope this helps.
IBer
Original post by theibanker
Thanks for the questions, responses below:
1) I think IBD is a very cerebral role and suitable for an introvert in the early years, though my view is that to rise through the ranks you need to raise your profile and prove you can manage client relationships.
2) Naturally, you meet a lot of like-minded people in your graduate class, so colleagues do become good friends (though with material flight risk as I'm discovering - lots are leaving for buyside). Having said this, I'm still close to most of my good friends from uni, many of whom do very different jobs (teaching, academia, science, government etc...)
3) Heavy Oxbridge bias where I am at, but a number from LSE, Durham, UCL etc. Lots of international representatives too (HEC, ESSEC, Bocconi etc)
Hope this helps.
IBer
1) I think IBD is a very cerebral role and suitable for an introvert in the early years, though my view is that to rise through the ranks you need to raise your profile and prove you can manage client relationships.
2) Naturally, you meet a lot of like-minded people in your graduate class, so colleagues do become good friends (though with material flight risk as I'm discovering - lots are leaving for buyside). Having said this, I'm still close to most of my good friends from uni, many of whom do very different jobs (teaching, academia, science, government etc...)
3) Heavy Oxbridge bias where I am at, but a number from LSE, Durham, UCL etc. Lots of international representatives too (HEC, ESSEC, Bocconi etc)
Hope this helps.
IBer
Thank you very much for your reply!
May I ask a further 3 questions?
1) Do you see yourself staying at the same IB or moving on in the near future?
2) What's the longest break you've had from work (Fun, chance to spend money you're making)
3) How has the job impacted your health?
Thank you
Original post by L'Etudiant
Thank you very much for your reply!
May I ask a further 3 questions?
1) Do you see yourself staying at the same IB or moving on in the near future?
2) What's the longest break you've had from work (Fun, chance to spend money you're making)
3) How has the job impacted your health?
Thank you
May I ask a further 3 questions?
1) Do you see yourself staying at the same IB or moving on in the near future?
2) What's the longest break you've had from work (Fun, chance to spend money you're making)
3) How has the job impacted your health?
Thank you
1) I could definitely see myself carving out a career at my current employer, but it's very much a 'base case' (sorry for the IB speak). Currently exploring buyside opportunities with a view to leaving in the next 12-18m.
2) I get 26 days of holiday a year and am encouraged to take them all (have managed to do so every year since joining). I take a 2-3 week break every year. My team are respectful about holidays, so aside from having to answer a few emails here and there, my holidays are usually undisturbed. I think this changes as you become more senior (i.e. Associate onwards) - more responsibility = more calls you're required to be on and therefore more holiday work (which kind of explains why I'm exploring other opportunities)
3) I definitely feel a bit less healthy than when I first started, but I think that's probably my fault rather than my career - I enjoy restaurant visits a bit too much and don't really gym enough (though again, my team are very respectful if you want to take an hour or two for the gym at lunch or in the evening)
(edited 9 years ago)
Original post by theibanker
1) I could definitely see myself carving out a career at my current employer, but it's very much a 'base case' (sorry for the IB speak). Currently exploring buyside opportunities with a view to leaving in the next 12-18m.
2) I get 26 days of holiday a year and am encouraged to take them all (have managed to do so every year since joining). I take a 2-3 week break every year. My team are respectful about holidays, so aside from having to answer a few emails here and there, my holidays are usually undisturbed. I think this changes as you become more senior (i.e. Associate onwards) - more responsibility = more calls you're required to be on and therefore more holiday work (which kind of explains why I'm exploring other opportunities)
3) I definitely feel a bit less healthy than when I first started, but I think that's probably my fault rather than my career - I enjoy restaurant visits a bit too much and don't really gym enough (though again, my team are very respectful if you want to take an hour or two for the gym at lunch or in the evening)
2) I get 26 days of holiday a year and am encouraged to take them all (have managed to do so every year since joining). I take a 2-3 week break every year. My team are respectful about holidays, so aside from having to answer a few emails here and there, my holidays are usually undisturbed. I think this changes as you become more senior (i.e. Associate onwards) - more responsibility = more calls you're required to be on and therefore more holiday work (which kind of explains why I'm exploring other opportunities)
3) I definitely feel a bit less healthy than when I first started, but I think that's probably my fault rather than my career - I enjoy restaurant visits a bit too much and don't really gym enough (though again, my team are very respectful if you want to take an hour or two for the gym at lunch or in the evening)
Thank you very much for your reply, I wish you luck in your career!
Hi,
(1) What does a typical working day consist of for you, and what are the hours like?
(2) How much travel do you undertake (both nationally and internationally as I have heard from some that travel time can be pretty exhausting)
(3) Roughly what has been your compensation over the years you have been here?
(4) What exit opportunities are available to you- and how doe they compare to investment banking
Many Thanks for doing this thread
(1) What does a typical working day consist of for you, and what are the hours like?
(2) How much travel do you undertake (both nationally and internationally as I have heard from some that travel time can be pretty exhausting)
(3) Roughly what has been your compensation over the years you have been here?
(4) What exit opportunities are available to you- and how doe they compare to investment banking
Many Thanks for doing this thread
Do you know any Cass alumni in F/O positions?
Original post by tom3232
Hi,
(1) What does a typical working day consist of for you, and what are the hours like?
(2) How much travel do you undertake (both nationally and internationally as I have heard from some that travel time can be pretty exhausting)
(3) Roughly what has been your compensation over the years you have been here?
(4) What exit opportunities are available to you- and how doe they compare to investment banking
Many Thanks for doing this thread
(1) What does a typical working day consist of for you, and what are the hours like?
(2) How much travel do you undertake (both nationally and internationally as I have heard from some that travel time can be pretty exhausting)
(3) Roughly what has been your compensation over the years you have been here?
(4) What exit opportunities are available to you- and how doe they compare to investment banking
Many Thanks for doing this thread
1) When I first joined, probably about 9am-11pm was a normal day. As I've moved up the ranks a bit (and become more efficient), I'm usually out of the door by 9pm, though depending on workload, the occasional late one (2am onwards), but these now only happen about once a month for me.
A typical day is difficult to describe as it very much depends on dealflow and client needs. I spend a bit less time modelling these days and more time managing processes as my team are prepping me for a more Associate-type role.
2) We're very much a Western European focused team, so limited travel required. I'd say I travel only once every month on average. It's a blessing not to need to travel though, not glamorous at all (usually involves going to a client's site and spending all day in a meeting room), then need to catch up on work back in the office in the evening/next day.
3) Won't comment on this I'm afraid, but you can probably find the answer on these forums, or in the Dartmouth Partners IB salary survey.
4) Exit opportunities are broad and include:
•
PE
•
Credit / hedge funds
•
Industry
•
Consulting
•
Investor relations
•
Investment management
•
Other areas of IB (research, markets, etc.)
Difficult to compare to IBD, some of the above areas overlap more with my current role than others.
Original post by Abdul-Karim
Do you know any Cass alumni in F/O positions?
Some, but not a huge number I'm afraid.
How much do you earn now compared to when you graduated.
Original post by LemonLizards
How much do you earn now compared to when you graduated.
I won't comment on numbers, but as an Analyst 3, my base has increased about 40% since I joined.
1.What are the things you like and dislike most about your job?
2. In it's most simple form, what do you do to justify your salary? (Not trying to sound accusing, just can't think of another way to phrase it). What do you contribute?
Thanks.
2. In it's most simple form, what do you do to justify your salary? (Not trying to sound accusing, just can't think of another way to phrase it). What do you contribute?
Thanks.
Similar to the last question I guess, but do Law graduates (i.e. from Oxbridge) have a significant presence in IB?
Thanks.
Thanks.
Thanks for doing this - will try not to overwhelm you!
1. Have you been able to save a sizable amount or was it too tempting to spend?
2. Where are the best places to live, which are affordable?
3. What do your family and friends think of your job? Do they look down on you (know that might sound weird - I mean with regard to how long you work, money and general banker bashing)
4. What is the longest you've had to work in a row?
5. If you had to choose between ECM, DCM and M&A, which would you choose and why?
6. Have you been involved in recruitment? If so, any advice?
7. Do the people you work with enjoy the job or do they hate going to work everyday? More importantly, do you enjoy it?
8. Is it true what HR sell us, in terms of people/culture, learning curve, progression, exposure etc?
9. Was it hard adjusting? How do you cope day to day?
10. Has your view on the industry changed since starting?
Thank you
One final thing: what makes a good intern? And how hard is it to progress? Is it very political or meritocratic?
Posted from TSR Mobile
1. Have you been able to save a sizable amount or was it too tempting to spend?
2. Where are the best places to live, which are affordable?
3. What do your family and friends think of your job? Do they look down on you (know that might sound weird - I mean with regard to how long you work, money and general banker bashing)
4. What is the longest you've had to work in a row?
5. If you had to choose between ECM, DCM and M&A, which would you choose and why?
6. Have you been involved in recruitment? If so, any advice?
7. Do the people you work with enjoy the job or do they hate going to work everyday? More importantly, do you enjoy it?
8. Is it true what HR sell us, in terms of people/culture, learning curve, progression, exposure etc?
9. Was it hard adjusting? How do you cope day to day?
10. Has your view on the industry changed since starting?
Thank you
One final thing: what makes a good intern? And how hard is it to progress? Is it very political or meritocratic?
Posted from TSR Mobile
(edited 9 years ago)
Hey iber
I'm an analyst too.
I have bachelors in finance and management. And I'm in the opinion that I need to finish my master as early as possible. Do you think I should be taking some specific master courses that will give me a better edge when it comes to working in the PE industry?
Or should I just opt for a standard MBA course?
Many thanks
I'm an analyst too.
I have bachelors in finance and management. And I'm in the opinion that I need to finish my master as early as possible. Do you think I should be taking some specific master courses that will give me a better edge when it comes to working in the PE industry?
Or should I just opt for a standard MBA course?
Many thanks
Original post by tengentoppa
1.What are the things you like and dislike most about your job?
2. In it's most simple form, what do you do to justify your salary? (Not trying to sound accusing, just can't think of another way to phrase it). What do you contribute?
Thanks.
2. In it's most simple form, what do you do to justify your salary? (Not trying to sound accusing, just can't think of another way to phrase it). What do you contribute?
Thanks.
1)
Like (including, but not limited to):
•
Working in a team with plenty of dealflow (seeing deals I've worked on being written about in the news)
•
Modelling (geeky, but when there's time, it's very satisfying to build a model from scratch. This is becoming less of a focus now though as I move on to...see below...)
•
Formulating ideas for clients (took a couple of years for this to become part of my role, but am increasingly involved in the 'thinking' rather than the 'doing' - e.g. drafting papers for clients and formulating options with seniors)
•
Being in an elite group (this is incredibly shallow of me, but even several years into my career, the elitist in me still appreciates the elitism of the industry and the quality of people I'm able to work with...)
Dislike
•
Though it's improving, the work/life balance is still a challenge, with weekends often disrupted (and inability to make plans during the week)
•
Level of responsibility can be very demanding and quite daunting at times (a feature of my team specifically, but may be similar for others)
•
Hierarchical structure (very prevalent in IBD, there's no meritocracy, can be almost army-like in its culture)
•
Pay (as I've said before, I won't go into detail on numbers, but bonuses are declining and I think there much higher paying roles out there than IBD. With increasing regulation / focused spotlight, the buyside is probably the place to be)
2) In its simplest form, I sell several of the best years of my life to the bank and deliver consistently high quality work with minimal errors. In addition to this, I believe the bank invests in me as they see I have the capacity to eventually originate deals, lead a team of people and formulate ideas for clients.
Original post by tom3232
Thanks for the reply.
Is university reputation more important than degree subject for getting into banking?
(eg history at oxbridge v economics at bath)
So are the degrees in your office mostly quantitative or is it fairly evenly spread?
Is university reputation more important than degree subject for getting into banking?
(eg history at oxbridge v economics at bath)
So are the degrees in your office mostly quantitative or is it fairly evenly spread?
1) Yes, university rep > subject in my opinion, to a point
2) There's a very broad range of degrees, everything from Music and English Literature to Engineering and Chemistry. Lots of people have Finance Masters and CFA too though.
Original post by Law-Hopeful
Similar to the last question I guess, but do Law graduates (i.e. from Oxbridge) have a significant presence in IB?
Thanks.
Thanks.
I've met some, but not that many actually (only one or two in my Analyst class).
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