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Can you make massive money in investment banking?

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Original post by BarryBeTrippin
Exactly. This is so true. The true reason people don't make billions, is because of their belief in a myth, that you have to work, and because of the relative lack of education of self made entrepreneurs.

Lmao Quants making 300k at a Wall Street firms, designing financial instruments, take their salary with pride, without considering the profitability of the business on a larger scale. They could probably make low millions at least running their own firms.


Lol that really isn't the reason why people don't make billions
Original post by BarryBeTrippin
Don't give ******** advice. 65-90k starting to 300k + bonuses I can provide links. Stick to your beta IB.


It's a known fact that quants at banks have a lower average ceiling than IBankers/traders. Ofc, superstars can make a lot anywhere - especially at hedge funds - but not every quant.

Links would be appreciated.

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Original post by Daniel9998
Lol that really isn't the reason why people don't make billions


Yes it is. You have highly skilled, highly educated individuals dedicating 10-20 years of their lives (or 5 then burned out) slaving away at firms that handle trillions in volume and generate billions in profit (from insurance companies like AXA to JP Morgan etc).

Imagine if these highly skilled, intelligent individuals spent their time focusing on how to make money.
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Original post by Feel Tha Bern
I do always find it odd when BBC news refers to it as 'casino banking'


There is some great economy documentaries on YouTube that explains it fantastically and most explain casino banking on a global scale. Four horseman documentary is a great one to start with.
Original post by King Scorchy
Exactly!


oh my god guys its tai lopez. KNOWLEDGE
download.jpe
(edited 8 years ago)
Original post by Jeena_hunt5476
But that sort of contradicts what ur saying? Ur saying its easy to make billions...... wants you've mastered it. So ur saying that the journey to it is hard but once u make it its easy.

Honestly ur underestimating how hard it is to be a billionaire. Im sure if it was that easy then a couple million people would be billionaires in this world.
If its so easy why arent u a billionaire? Why are u chatting online on TSR, spreading dumbass logic and not making billions?

Seriously never heard something so stupid before😂😂


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Oops I meant 'once you've mastered it'


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Original post by Princepieman
It's a known fact that quants at banks have a lower average ceiling than IBankers/traders. Ofc, superstars can make a lot anywhere - especially at hedge funds - but not every quant.

Links would be appreciated.

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http://www.quantfinancejobs.com/jobs/job.aspx?JobID=21941 60k starting, this was just one.

Confirms what I said.
Original post by King Scorchy
Amen. Before you posted I thought everyone was just stupid.


These guys will earn 100k at a bank and feel superior for 2-3 years before reality kicks in.
Original post by BarryBeTrippin
http://www.quantfinancejobs.com/jobs/job.aspx?JobID=21941 60k starting, this was just one.

Confirms what I said.


£60k after a Masters in Financial Engineering/PhD, yes. Banking analysts start on £50k with a bachelor's lol.

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Original post by Princepieman
£60k after a Masters in Financial Engineering/PhD, yes. Banking analysts start on £50k with a bachelor's lol.

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More competition. No guarantee of an increase in salary. Analyst 1 is £45k according to your chart.

Plus bonuses. Maybe a £15k yearly difference plus bonuses is trivial to you. But it's quite a big difference. Plus bonuses aren't capped to the same extent as an entry level Analyst job in a Bank.

PHD doesn't take that long to complete.

Plus you've invested more into your own education, gives you more independence and less reliance on the job.
Original post by debs20153
Have you ever heard of inflation as if everyone were billonaires and just applied themselves like you said then this would come into play and billions would mean nothing. Also in a capitalist system it is not possible for people other than those with new buisness ideas and such or those who are extremely lucky as you will be locked out of of top positions unless you have connections no matter how good you are. Thats just life in general


The point I'm making is that new business ideas aren't hard to generate.

The second point is true.
Original post by BarryBeTrippin
More competition. No guarantee of an increase in salary. Analyst 1 is £45k according to your chart.

Plus bonuses. Maybe a £15k yearly difference plus bonuses is trivial to you. But it's quite a big difference. Plus bonuses aren't capped to the same extent as an entry level Analyst job in a Bank.

PHD doesn't take that long to complete.

Plus you've invested more into your own education, gives you more independence and less reliance on the job.


Nah, street is £50k now - I did say those figures were old.. I've seen my friends offers across several banks. All-in is £70-85k for first year, after you include bonus.

Bonuses are capped for everyone, it doesn't matter whether you're a quant or whether you're a banker. EU regulations have been put in place to cap bonus at 200% of base, forcing companies to drive up base.

I assure you Quants, on average, have a lower ceiling (all-in) than bankers and that's because they don't generate revenue for the bank..

Lol, a PhD is a 3+ year mental/emotional toil to go through if your end goal is just finance. Most people do PhDs because they love their subjects and want to dive in deeper, not because it opens up doors to becoming a quant.

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Original post by Princepieman
£60k after a Masters in Financial Engineering/PhD, yes. Banking analysts start on £50k with a bachelor's lol.

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Hi ive also always thought about doing IB or chem eng from your experience how would you say the field is ps dont really care about money as long as i can live comfortably
Original post by debs20153
Hi ive also always thought about doing IB or chem eng from your experience how would you say the field is ps dont really care about money as long as i can live comfortably


I'm not sure what you're asking here?

If you're asking if you can get an IB gig by studying Chem Eng, then yes, absolutely. You need to apply at the right time and go through the funnel. Dig around the IB forum, I posted a 'how to get a job on high finance' thread a while back.

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Original post by Princepieman
Nah, street is £50k now - I did say those figures were old.. I've seen my friends offers across several banks. All-in is £70-85k for first year, after you include bonus.

Bonuses are capped for everyone, it doesn't matter whether you're a quant or whether you're a banker. EU regulations have been put in place to cap bonus at 200% of base, forcing companies to drive up base.



Yeah I mentioned this EU regulation in another post.

I was referring to the chart where Analyst one had bonuses around 20-50% I believe.

This is not the case with Quant bonuses.

Original post by Princepieman

I assure you Quants, on average, have a lower ceiling (all-in) than bankers and that's because they don't generate revenue for the bank..



LMAO Is that a joke?

Who designs insurance packages and derivative instruments?

Who practices statistical arbitrage? etc...

Original post by Princepieman

Lol, a PhD is a 3+ year mental/emotional toil to go through if your end goal is just finance. Most people do PhDs because they love their subjects and want to dive in deeper, not because it opens up doors to becoming a quant.

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There aren't many quants full stop. It suffice that a minority does a PhD in a statistical subject for that reason, and tbh these objectives aren't mutually exclusive. Quants probably love the subject to begin with.
Original post by Princepieman
I'm not sure what you're asking here?

If you're asking if you can get an IB gig by studying Chem Eng, then yes, absolutely. You need to apply at the right time and go through the funnel. Dig around the IB forum, I posted a 'how to get a job on high finance' thread a while back.

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Just askinng if you enjoy i know it is hard and i know you work long hours but does it feel fulfilling
Original post by Jeena_hunt5476
But that sort of contradicts what ur saying? Ur saying its easy to make billions...... wants you've mastered it. So ur saying that the journey to it is hard but once u make it its easy.

Honestly ur underestimating how hard it is to be a billionaire. Im sure if it was that easy then a couple million people would be billionaires in this world.
If its so easy why arent u a billionaire? Why are u chatting online on TSR, spreading dumbass logic and not making billions?

Seriously never heard something so stupid before😂😂


It is easy. It's easy to make billions and I'm not saying the journey is hard, I'm just saying it looks hard. Like learning to be a brain surgeon, it's actually easy - all you have to do is learn how to do it. And what about the 'much more difficult' things? All you have to do is learn how to do it, and ace it.

Original post by Guls
What do you know about infinity?
How do you know its exists?
How can you measure it?
tell me something that you have that is infinite.

See.. You shouldn't go round using that beautiful word will nilly. You can carry on motivating your self to make the dough but just realise that there's a cap to everything.:rock::rock::rock::rock::rock::rock::rock::rock:


There is no cap! Where were we 100 years ago? 1000 years ago? 10,000 years ago and so on? We keep advancing because life is infinite - along with that there are infinite opportunities, including infinite opportunities to make money.

And yes, infinity is a beautiful word.

Original post by debs20153
Have you ever heard of inflation as if everyone were billonaires and just applied themselves like you said then this would come into play and billions would mean nothing. Also in a capitalist system it is not possible for people other than those with new buisness ideas and such or those who are extremely lucky as you will be locked out of of top positions unless you have connections no matter how good you are. Thats just life in general


Not true. You can rise to high places without connections.
(edited 8 years ago)
Original post by Princepieman
£60k after a Masters in Financial Engineering/PhD, yes. Banking analysts start on £50k with a bachelor's lol.

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Ignore this user in all discussions of Finance and Careers. His contribution is usually nonsense.
Original post by King Scorchy
It is easy. It's easy to make billions and I'm not saying the journey is hard, I'm just saying it looks hard. Like learning to be a brain surgeon, it's actually easy - all you have to do is learn how to do it. And what about the 'much more difficult' things? All you have to do is learn how to do it, and ace it.



There is no cap! Where were we 100 years ago? 1000 years ago? 10,000 years ago and so on? We keep advancing because life is infinite - along with that there are infinite opportunities, including infinite opportunities to make money.

And yes, infinity is a beautiful word.



Not true. You can rise to high places without connections.


I know its possible however it is EXTREMELY diffucult to do
Original post by BarryBeTrippin


LMAO Is that a joke?

Who designs insurance packages and derivative instruments?

Who practices statistical arbitrage? etc...



It's not a joke. Banks don't care how 'complex' your work is, they care about who makes them money. And the fact is a banking VP balancing leading deal teams with procuring new leads, is much more valuable to a bank than a quant who, is effectively, a trader's assistant.

Sure, quants make a lot in quant hedge funds where their skills are applied to make money, but in a bank, the revenue generators are king.

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