the truth about investment banking

OP

Original post by seismic cat

Do you know if Southampton Uni is a semi-target? We do get JP Morgan coming in every now and again but I feel they target our tech students rather than for fiannce.

What percentage of your cohort were from non-targets? I am worried that my chances have just been minimised from not going to a target

they're not. for M&A/Coverage no one was from a non-target i don't think

Original post by ilikecats12

What's the longest you've worked in a day
I've heard of bankers working from 5 am to midnight and then starting work at 5 am again

till maybe 3:30, there have been longer from others even as interns

(edited 7 years ago)

Reply 42

OP

Original post by icedark_knight

Debatable tbh... many islamic scholars have said that working in banks is permissable, as long as you aren't directly associated with interest... so back office roles are likely to be fine... main issue is front office roles...

lol to me that's like saying you can work in the porn industry, aslong as you're only the cameraman. makes no sense, if it's something that troubles someone you shouldn't get near to it at all lmao

Reply 43

username1972501

3

Original post by gr8wizard10

lol to me that's like saying you can work in the porn industry, aslong as you're only the cameraman. makes no sense, if it's something that troubles someone you shouldn't get near to it at all lmao

Cameraman is probably closer to a front office role surely?

Thing is it is pretty tough to fully avoid being even remotely associated with anything haram, if you live in the UK. If you work in tesco(office role even), you'll be earning income from alcohol tesco sells? Same goes for airlines etc... hard to stay away fully... most muslims will need to use retail banking just for deposits (convenience)... so as long as you aren't directly associated I guess it should be fine? Grey area nonetheless

Reply 44

Original post by icedark_knight

Cameraman is probably closer to a front office role surely?

Thing is it is pretty tough to fully avoid being even remotely associated with anything haram, if you live in the UK. If you work in tesco(office role even), you'll be earning income from alcohol tesco sells? Same goes for airlines etc... hard to stay away fully... most muslims will need to use retail banking just for deposits (convenience)... so as long as you aren't directly associated I guess it should be fine? Grey area nonetheless

Exactly why I don't see the point in even following what is haram or not. just do what you want, avoid anything illegal ofc.

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Reply 45

AdeptDz

Are any tasks difficult to do? Or are they just time consuming?

Reply 46

OP

Original post by AdeptDz

Are any tasks difficult to do? Or are they just time consuming?

mostly time consuming

Reply 47

Terry Tibbs

19

Are are your superiors generally friendly or have you ever experienced real hostility towards you?

Reply 48

seismic cat

5

How much networking did you do prior to applying to Spring weeks and do you feel that this helped you? If so, in what way?

Reply 49

OP

Original post by Terry Tibbs

Are are your superiors generally friendly or have you ever experienced real hostility towards you?

mostly friendly, but it's a mix of personalities, you just gotta deal

Original post by seismic cat

How much networking did you do prior to applying to Spring weeks and do you feel that this helped you? If so, in what way?

a lot and yeah, gained a lot of insight into the specific firms and application advice

Reply 50

jammypie

Real talk.

How wild are the parties? strippers, drugs etc...? I understand things like the 'wolf of wall street' are mostly hollywood.
But there must be elements of truth to it.

Im thinking of getting into IB, but i dont see the allure of working relentlessly for 80+ hours/week in order to have enough money to "enjoy life later"

I have this (hopefully inaccurate) perception that IB has evolved into a place where nerds who have nothing better to do with their time hang out

Is this true?
Does it vary by division?

(p.s. I have nothing against nerds)

Reply 51

seismic cat

5

How much exposure did you get to Bloomberg Terminals during your Spring week and Internship?

Reply 52

OP

Original post by jammypie

Real talk.

How wild are the parties? strippers, drugs etc...? I understand things like the 'wolf of wall street' are mostly hollywood.
But there must be elements of truth to it.

Im thinking of getting into IB, but i dont see the allure of working relentlessly for 80+ hours/week in order to have enough money to "enjoy life later"

I have this (hopefully inaccurate) perception that IB has evolved into a place where nerds who have nothing better to do with their time hang out

Is this true?
Does it vary by division?

(p.s. I have nothing against nerds)

wouldn't know, i don't go to any parties

i don't think the people who get into ibd (maybe just Corp fin / M&A) would be classed as nerds, quite overt ppl

Original post by seismic cat

How much exposure did you get to Bloomberg Terminals during your Spring week and Internship?

sw none
internship as much as you want

Reply 53

username2808800

6

Original post by gr8wizard10

given i have no life and my entire life is just currently downtime i've read through the forums etc.. and it would seem a lot of people want to go into banking without knowing what goes on inside or don't know the truth about the here-say rumours

to the best of my ability i'll try and answer from my experience and stories from the inside any questions about hours, lifestyle etc..

can also answer questions on trading, research

What are your normal hours and would you be allowed to take 1 or 2 days shorter , I.e 2 days where you work 7-4 or 9-5 and then catch up on other days? Also do you have to work weekends as I would like Saturday off , dont mind working Sunday. How is the pay and promotion prospects as well? Which uni did you go to by the way?

Reply 54

Original post by fleky6910

What are your normal hours and would you be allowed to take 1 or 2 days shorter , I.e 2 days where you work 7-4 or 9-5 and then catch up on other days? Also do you have to work weekends as I would like Saturday off , dont mind working Sunday. How is the pay and promotion prospects as well? Which uni did you go to by the way?

I think you need to accept that you'll have zero flexibility as a junior employee in most industries within the economy.

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Reply 55

username2808800

6

Original post by Princepieman

I think you need to accept that you'll have zero flexibility as a junior employee in most industries within the economy.

Posted from TSR Mobile

Ok thanks , I heard that you can work extra long some days though or get somebody to cover for you and you do the same .

Reply 56

username2808800

6

Original post by Princepieman

I think you need to accept that you'll have zero flexibility as a junior employee in most industries within the economy.

Posted from TSR Mobile

Also I wouldn't mind the hours I was just wondering.

Reply 57

Original post by fleky6910

Ok thanks , I heard that you can work extra long some days though or get somebody to cover for you and you do the same .

That's not really a thing

Reply 58

Anonymous1502

20

Original post by gr8wizard10

given i have no life and my entire life is just currently downtime i've read through the forums etc.. and it would seem a lot of people want to go into banking without knowing what goes on inside or don't know the truth about the here-say rumours

to the best of my ability i'll try and answer from my experience and stories from the inside any questions about hours, lifestyle etc..

can also answer questions on trading, research

How do you get into the investment banking industry?Do you need a degree?Do you need to be good at maths?do you need to be smart?what is the pay like?

Reply 59