coming to a year in investment banking - ama
industry group analyst in ibd - brutal truths here
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
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Original post by gr8wizard10
industry group analyst in ibd - brutal truths here
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
What do you like?
What do you dislike?
What has surprised you?
How long do you think you will stay at current employer?
How long in IB?
Have you already got an exit strategy?
I remember you saying that you would want to quit finance, still thinking about it? Whats next? Staying? Leaving? PE? HF? Corp dev?
-Favorite type of transaction? and why?
-Number of deals closed?
-Time spend on pitch ideas for your MD vs time spend on live deals?
These are few to start, I'll probably have more in the future.
-Favorite type of transaction? and why?
-Number of deals closed?
-Time spend on pitch ideas for your MD vs time spend on live deals?
These are few to start, I'll probably have more in the future.
Original post by 999tigger
What do you like?
What do you dislike?
What has surprised you?
How long do you think you will stay at current employer?
How long in IB?
Have you already got an exit strategy?
What do you dislike?
What has surprised you?
How long do you think you will stay at current employer?
How long in IB?
Have you already got an exit strategy?
What do you like? - that i've learnt a lot (specifically the soft skills & what come to terms with what i value in life)
What do you dislike? - not having control over my time / long hours
What has surprised you? - not much really, knew what to expect.. i'm surprised that i didn't think i'd burn out quicker than i think i am
How long do you think you will stay at current employer? - until i land another role - estimate within the next 6-12 months or less should something come up
How long in IB? - next gig wouldn't be in IB so think that answers that
Have you already got an exit strategy? - have an idea on what next steps would look like
Original post by xtrembob
I remember you saying that you would want to quit finance, still thinking about it? Whats next? Staying? Leaving? PE? HF? Corp dev?
-Favorite type of transaction? and why?
-Number of deals closed?
-Time spend on pitch ideas for your MD vs time spend on live deals?
These are few to start, I'll probably have more in the future.
-Favorite type of transaction? and why?
-Number of deals closed?
-Time spend on pitch ideas for your MD vs time spend on live deals?
These are few to start, I'll probably have more in the future.
- corp dev it looks like - very much dislike lifestyle in banking / not a career for me
- have no fav type of transaction - ones with the least amount of pain.. jbr on an ipo
[yet to have this luxury]- 2 [from inception] (ran through the cycle - 1 didn't close per say.. but process was complete)
- 70% pitching lately (prefer given better lifestyle than before)
(edited 5 years ago)
Original post by gr8wizard10
industry group analyst in ibd - brutal truths here
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
*note: will not reveal info i deem to be unnecessary
mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
would you do it again and why?
life takeaways from being put through the meat grinder for a year?
would you recommend the career path to kids in sixth form?
highlights of your first real year of working life? how does it compare to uni?
favourite aspect of the job?
Posted from TSR Mobile
@gr8wizard10 Thanks for making this, it will be an interesting thread 
Is there anything that you wish you'd known at A-level/Uni when chosing this career?
Is there anything that you wish you'd known at A-level/Uni when chosing this career?
Original post by Princepieman
would you do it again and why?
life takeaways from being put through the meat grinder for a year?
would you recommend the career path to kids in sixth form?
highlights of your first real year of working life? how does it compare to uni?
favourite aspect of the job?
life takeaways from being put through the meat grinder for a year?
would you recommend the career path to kids in sixth form?
highlights of your first real year of working life? how does it compare to uni?
favourite aspect of the job?
would you do it again and why? - yes, opens up a plethora of doors going forward, built strong time management / execution / soft skills
life takeaways from being put through the meat grinder for a year? - learnt to value time, people and a greater appreciation relationships
would you recommend the career path to kids in sixth form? - depends on people's goals / values - on average probably not, but if future plans seem like they can benefit from a year or two in the business then perhaps
highlights of your first real year of working life? how does it compare to uni? - prefer working to uni, #1 i get paid, and feel i learn alot more useful things in the work place than i ever did at uni
favourite aspect of the job? - the collegiate nature of the analyst pool
the late dinners at 9pm in the breakout area *****ing about the MDs and telling our horror storiesOriginal post by Puddles the Monkey
@gr8wizard10 Thanks for making this, it will be an interesting thread
Is there anything that you wish you'd known at A-level/Uni when chosing this career?
Is there anything that you wish you'd known at A-level/Uni when chosing this career?
not so much wish i'd known, i was perhaps very naive in the sense of thinking i knew what life was about and what my values/priorities were
i think what's important for this career, is knowing what doors it can open and a clearer route into the expectations / pathways that are taken to get there. i think banking is a career only for a few and mostly you'd want to find somewhere you can translate those skills to. I spent the past few months figuring that out, so if i had earlier insights would've been better
Was selling your soul to corporate shills worth it?
How do you deal with the lack of sleep?
What do you do with all that money so young? Do you pull lots of girls?
What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?
How do you deal with the lack of sleep?
What do you do with all that money so young? Do you pull lots of girls?
What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?
Original post by rhaegar442
Was selling your soul to corporate shills worth it?
How do you deal with the lack of sleep?
What do you do with all that money so young? Do you pull lots of girls?
What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?
How do you deal with the lack of sleep?
What do you do with all that money so young? Do you pull lots of girls?
What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?
Was selling your soul to corporate shills worth it? - yes, should it help me progress to the type of work i'd be interested in
How do you deal with the lack of sleep? - these days i don't get much lack of sleep.. when i did, no real cope.. just grinding through it without much say
What do you do with all that money so young? Do you pull lots of girls? - family / rent, no girls
What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)? - 10 years too far down the line, but immediate perhaps work on a relationship (potentially), get another job, probably retire late 60s, can't imagine a life doing no type of work..
average sleep?
are u healthy?
age range of analysts? is 23/24 really old??
best part of job
worst part
weekends free??
are u healthy?
age range of analysts? is 23/24 really old??
best part of job
worst part
weekends free??
Original post by seconda1
average sleep?
are u healthy?
age range of analysts? is 23/24 really old??
best part of job
worst part
weekends free??
are u healthy?
age range of analysts? is 23/24 really old??
best part of job
worst part
weekends free??
average sleep? - 7-8 hours - i usually get up at 9:30
are u healthy? - yes, go gym / play football 2-3x a week and do other sports
age range of analysts? is 23/24 really old?? - 21-27
best part of job? - dinners/speaking with other analysts
worst part? - weekend work / all-nighters
weekends free?? - last 2-3 weekends they were, but before that mostly not
whats your salary looking like? (ball park figure) :P
what qualificaations did you get?
is there a way into the finance industry through apprenticeships, and which would you recommend if so
what qualificaations did you get?
is there a way into the finance industry through apprenticeships, and which would you recommend if so
Original post by gr8wizard10
average sleep? - 7-8 hours - i usually get up at 9:30
are u healthy? - yes, go gym / play football 2-3x a week and do other sports
age range of analysts? is 23/24 really old?? - 21-27
best part of job? - dinners/speaking with other analysts
worst part? - weekend work / all-nighters
weekends free?? - last 2-3 weekends they were, but before that mostly not
are u healthy? - yes, go gym / play football 2-3x a week and do other sports
age range of analysts? is 23/24 really old?? - 21-27
best part of job? - dinners/speaking with other analysts
worst part? - weekend work / all-nighters
weekends free?? - last 2-3 weekends they were, but before that mostly not
what time do you roughly finish?
good to hear u are healthy
what do you do during the weekend?
do you personally think age 23/24 is a late start?
Original post by muhammad__
whats your salary looking like? (ball park figure) :P
what qualificaations did you get?
is there a way into the finance industry through apprenticeships, and which would you recommend if so
what qualificaations did you get?
is there a way into the finance industry through apprenticeships, and which would you recommend if so
whats your salary looking like? (ball park figure) :P - street average | as a 2nd year approx: GBP55k base (+~30k bonus)
what qualificaations did you get? - none, FCA approved.. not sure qualifications are relevant in IBD.. you need a degree to enter
is there a way into the finance industry through apprenticeships, and which would you recommend if so? - not front office investment banking afaik. but i think jp morgan does some functions type apprentice thing, not clued up on it
Original post by seconda1
do you personally think age 23/24 is a late start?
do you personally think age 23/24 is a late start?
dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.
It's not that deep.
Posted from TSR Mobile
Original post by Dalek1099
What exactly do you do in your work? How mathematical would you describe the job? What sort of problems do you solve? How did you manage to get the job?How was the application process?
industry coverage banker - create materials to be used for meetings, or adhoc requests for clients. assists sr. management in the process of due-dilligence and helping co-ordinate a deal process. financial valuations of companies, keeping team informed and up to date on industry trends etc.. probably a better desc of the job online
in terms of mathemtatical rigour, not so much.. i mean division is probably the most complex use of math we do (and if you're smart, you will use a calculator - shoutout to excel). but you have to be good with numbers, and understand the story they tell.. more interpretation and analysis than anything.
problems include mainly final valuation, ad-hoc concerns in a deal process.. understanding how to finance an acquisition, how to resolve regulatory concerns, what are the correct target companies, whats the correct peer set needed to value x company.. etc.
in terms of getting the job, a lot of research at an early stage, going to insight days - building a network/getting acquainted with current bankers, applying for spring weeks and internships, working hard and proving myself at each step
for me, i applied at the spring week stage, which was a round of psychometric testing / phone and f2f interviews & case studies and assessment centres
Original post by Princepieman
dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.
It's not that deep.
Posted from TSR Mobile
It's not that deep.
Posted from TSR Mobile
thanks man
Original post by Princepieman
dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.
It's not that deep.
Posted from TSR Mobile
It's not that deep.
Posted from TSR Mobile
Original post by seconda1
thanks man
yes, 23-25 is probably the average age range to expect for new analysts
Original post by gr8wizard10
industry coverage banker - create materials to be used for meetings, or adhoc requests for clients. assists sr. management in the process of due-dilligence and helping co-ordinate a deal process. financial valuations of companies, keeping team informed and up to date on industry trends etc.. probably a better desc of the job online
in terms of mathemtatical rigour, not so much.. i mean division is probably the most complex use of math we do (and if you're smart, you will use a calculator - shoutout to excel). but you have to be good with numbers, and understand the story they tell.. more interpretation and analysis than anything.
problems include mainly final valuation, ad-hoc concerns in a deal process.. understanding how to finance an acquisition, how to resolve regulatory concerns, what are the correct target companies, whats the correct peer set needed to value x company.. etc.
in terms of getting the job, a lot of research at an early stage, going to insight days - building a network/getting acquainted with current bankers, applying for spring weeks and internships, working hard and proving myself at each step
for me, i applied at the spring week stage, which was a round of psychometric testing / phone and f2f interviews & case studies and assessment centres
in terms of mathemtatical rigour, not so much.. i mean division is probably the most complex use of math we do (and if you're smart, you will use a calculator - shoutout to excel). but you have to be good with numbers, and understand the story they tell.. more interpretation and analysis than anything.
problems include mainly final valuation, ad-hoc concerns in a deal process.. understanding how to finance an acquisition, how to resolve regulatory concerns, what are the correct target companies, whats the correct peer set needed to value x company.. etc.
in terms of getting the job, a lot of research at an early stage, going to insight days - building a network/getting acquainted with current bankers, applying for spring weeks and internships, working hard and proving myself at each step
for me, i applied at the spring week stage, which was a round of psychometric testing / phone and f2f interviews & case studies and assessment centres
What degree did you do? Am I right in thinking that you applied during your last year of your degree? I'm just not sure how thats supposed to work or do they schedule the assessment centre and interviews at a suitable time or did you have to miss classes? Did you have to move away from home?
At the moment I am interested in being an actuary but I probably should consider other careers in finance. I am doing a Natural Sciences degree at Durham University studying Mathematics and Physics and I am feeling as though careers in finance tend to suit people more interested in problem solving rather than the actual level of Mathematics involved(although in some cases this can be high at least while training) and I am also really interested in making a difference and solving problems that will really matter in the real world. With Physics and Mathematical Physics which describes what I am currently during in my third year they are very conceptual(based on key ideas) and problem solving based. Would you describe that as similar to the sort of skills you use in investment banking?
By the time that I start applying next year, I will have completed two research internships at my University(I have already done one and will do another this summer). How do you think companies will view this? Would they prefer experience within a finance company? The research mainly involves using programming and numerical methods to solve Physics problems but I have to read up all the underlying theory. I believe that a lot of companies are using computers to help solve a lot of the problems so I hope these experiences will seem attractive to employers. I have heard a lot about companies using spreadsheets on Excel(I have made a spreadsheet of the ranking of several Pro Evolution Soccer teams based on the games I play is this worth mentioning? I have attached the file) but I have also heard that some companies use VBA. Are you familiar with VBA? How hard is it to use if you are? To add to this, I self studied A Level Additional Further Mathematics - Do you think this looks good?
(edited 5 years ago)
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