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A warning on investment banking (M&A) careers watch

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    (Original post by will2348)
    Even if someone came on here and said they were an MD some other guy, probably a nerdy teenager, would come and dismiss them as knowing nothing hahaha

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    Hahahaha, that is true! I can imagine someone doing their GCSEs, having read the FT for the first time in their life, coming on here to do just that.
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    You do realise the reason you can't get a job is because investment banks have culled a significant percentage of their workforce. Where do you think all those people who've been made redundant since 2008 have gone? And the squeeze on investment banks is only going to continue for the foreseeable future.

    The biggest problem with investment banks is that your colleagues are absolute bell ends. What makes this so awful is that you have to spend almost all your waking time with them, because you work such long hours at the office!
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    (Original post by Princepieman)
    From the viewpoint of several friends in the industry.* I may 'just' be a gap year student but the level of research I've done into this industry and the contact I have with people who are at the top shops at the moment is nothing to dismiss. I've at least bagged some deferred spring weeks, for what it's worth. I can almost see the eyes roll after I post this hahaha.

    For clarification, OP's post is a good heads up but it also should be taken with a grain of salt.



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    which spring weeks do you have deferred?
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    (Original post by Classical Liberal)
    You do realise the reason you can't get a job is because investment banks have culled a significant percentage of their workforce. Where do you think all those people who've been made redundant since 2008 have gone? And the squeeze on investment banks is only going to continue for the foreseeable future.

    The biggest problem with investment banks is that your colleagues are absolute bell ends. What makes this so awful is that you have to spend almost all your waking time with them, because you work such long hours at the office!
    He wasn't talking about getting a job in banking bro, he was talking about opportunities at Private Equity funds, Hedge Funds and Corporate Development roles.. Pretty sure he mentioned being able to go back into banking fairly easily but that he didn't like the lifestyle.

    You should probably read the post first.



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    (Original post by welcometoib)
    which spring weeks do you have deferred?
    I shall PM

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    (Original post by Classical Liberal)
    You do realise the reason you can't get a job is because investment banks have culled a significant percentage of their workforce. Where do you think all those people who've been made redundant since 2008 have gone? And the squeeze on investment banks is only going to continue for the foreseeable future.

    The biggest problem with investment banks is that your colleagues are absolute bell ends. What makes this so awful is that you have to spend almost all your waking time with them, because you work such long hours at the office!
    no, no just stop typing lol. read the op again properly next time. nowhere does he say he cant get a job in ib, in fact he has one.
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    (Original post by Awesome Genius)
    Mathematics (B)French (D)Physics (C)Higher Computing (C)

    WTF IS THAT?!

    You talk as if you're first class Oxbridge, you're nobody?!

    How can you be so rude to someone who has way more experience than you. You just spend your time salivating over people's LinkedIn all day long...
    Calm it mate... A failed doctor shouldn't be firing shots. I will call BS where I see BS, please tell us again about how your car brings all the girls in and how you are a massive success in your life when you spend all your time on TSR, showing off to little kids.

    Take a look at yourself before you pull **** like this.



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    (Original post by Princepieman)
    Calm it mate... A failed doctor shouldn't be firing shots. I will call BS where I see BS, please tell us again about how your car brings all the girls in and how you are a massive success in your life when you spend all your time on TSR, showing off to little kids.

    Take a look at yourself before you pull **** like this.



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    lol failed doctor? I haven't failed at anything ive done. You have **** grades. People who end up with amazing jobs generally have done really well at everything they've done.

    You have no actual experience working in these places. You literally spend all of your time looking at LinkedIn.

    Then you tell someone who has actually gone and done it, in a tremendously rude and demeaning way, that they are wrong?!

    You're not just a pretentious teenager. You are also arrogant and deluded and, from those Advanced Highers - a moron.

    I know three people who work at GS - none of them have come close to actually getting a D in something. Also, they are humble people, reasonable people. They also wouldn't come out in this ridiculous way and argue with people who have a lot more experience than them.
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    Not that I have any experience with ib, but I know someone that used works in ib and let's just say his work-life balance was absolutely horrendous. He quit after 7 years. Took him three years to find another job... :/ Also my sister's bf is a trader, and a lot of his banker friends hardly have a life.
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    (Original post by Awesome Genius)
    lol failed doctor? I haven't failed at anything ive done. You have **** grades. People who end up with amazing jobs generally have done really well at everything they've done.

    You have no actual experience working in these places. You literally spend all of your time looking at LinkedIn.

    Then you tell someone who has actually gone and done it, in a tremendously rude and demeaning way, that they are wrong?!

    You're not just a pretentious teenager. You are also arrogant and deluded and, from those Advanced Highers - a moron.
    Listen mate, I know, it's tough to realise that your life has gone to the gutter but there's no need to be such a ****ing buffoon about this.

    Yeah, I scour LinkedIn every day, religiously, sure. I don't know where the **** you've pulled that one from but ok.

    I don't give a monkeys what you think about who's right or wrong, neither do I have the time to entertain your attempt of being a douche nugget. If you think what I've said is wrong, please feel free to correct it and tell me exactly where I was wrong.. Until then, you can piss off to your corner of the TSR chat forum, masturbating your humongous ego.

    Yep, I'm an idiot bro, a complete idiot. I actually wasted time to reply to you.

    Keep em coming mate, I really don't give a ****. Someone who thinks grades equates to intelligence (and someone who doesn't even know me, nor what's happened in my life) is clearly the superior person - hats off mate.



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    (Original post by Princepieman)
    Listen mate, I know, it's tough to realise that your life has gone to the gutter but there's no need to be such a ****ing buffoon about this.

    Yeah, I scour LinkedIn every day, religiously, sure. I don't know where the **** you've pulled that one from but ok.

    I don't give a monkeys what you think about who's right or wrong, neither do I have the time to entertain your attempt of being douche nugget. If you think what I've said is wrong, please feel free to correct it and tell me exactly where I was wrong.. Until then, you can piss off to your corner of the TSR chat forum, masturbating your humongous ego.

    Yep, I'm an idiot bro, a complete idiot. I actually wasted time to reply to you.

    Keep em coming mate, I really don't give a ****. Someone who thinks grades equates to intelligence (and someone who doesn't even know me, nor what's happened in my life) is clearly the superior person - hats off mate.



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    What you've done is akin to me, who admittedly has problems with relationships, quoting a relationship coach like Foo.mp3 and telling him,

    - No, you're wrong, im right because ive read a lot about relationships and you're wrong here and here and here.

    Then on top of that, you starting calling him out for failing and owe his informative post down to his "failure".

    Its so unbelievably rude. If you don't agree with him, that is not the way to say it. Basic people skills.
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    (Original post by Princepieman)
    He wasn't talking about getting a job in banking bro, he was talking about opportunities at Private Equity funds, Hedge Funds and Corporate Development roles.. Pretty sure he mentioned being able to go back into banking fairly easily but that he didn't like the lifestyle.

    You should probably read the post first.



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    no, no just stop typing lol. read the op again properly next time. nowhere does he say he cant get a job in ib, in fact he has one.
    Well, bro, if you think about it, this guy is complaining he hasn't been able to find good exits from IB. Why do you think that might be a problem right now?

    It might be partly because lots of very good non-junior people have been booted out of IB and those people have left to go and join the firms OP wants to work at. Almost every single IB has cut its work force back, where do you think all the people who have been made redundant go? Do you think they just magically disappear off the labour market or just spend the rest of their days posting on TSR?
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    (Original post by Awesome Genius)
    What you've done is akin to me, who admittedly has problems with relationships, quoting a relationship coach like Foo.mp3 and telling him,

    - No, you're wrong, im right because ive read a lot about relationships and you're wrong here and here and here.

    Then on top of that, you starting calling him out for failing and owe his informative post down to his "failure".

    Its so unbelievably rude. If you don't agree with him, that is not the way to say it. Basic people skills.
    Mate, I'm actually waiting for you to point out WHERE in my post, I have said something wrong. It's nice to see you took out some time in your day to add absolutely no value to this thread whatsoever; really, I've learnt so much from reading things I know about myself already.

    Sure, my tone was harsh but I still stand by what I've said, and ultimately others agree.

    I await another pointless reply from you.

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    (Original post by drowzee)
    Not that I have any experience with ib, but I know someone that used works in ib and let's just say his work-life balance was absolutely horrendous. He quit after 7 years. Took him three years to find another job... :/ Also my sister's bf is a trader, and a lot of his banker friends hardly have a life.
    7 years is very good actually, most jump after 2-3 years due to burnout. what does your sister do?
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    (Original post by Princepieman)
    Mate, I'm actually waiting for you to point out WHERE in my post, I have said something wrong. It's nice to see you took out some time in your day to add absolutely no value to this thread whatsoever; really, I've learnt so much from reading things I know about myself already.

    Sure, my tone was harsh but I still stand by what I've said, and ultimately others agree.

    I await another pointless reply from you.

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    It don't know, I don't care and its not important. Its your tone, its so wrong.

    These are all opinions, not statistical analyses so if anyone points out that you're wrong about anything, you will just back it up anecdotally.

    Anyway... as I said, your **** grades are consistent with your lack of ability to understand my objections. No one has agreed with you either.

    14 people repped him, 6 people repped a post that called you a pretentious teenager. As I said, 'pretentious teenager' is not enough for a display of arrogance this enormous. And it is arrogance, not confidence because all you have a track record in so far is getting Ds in Physics.

    No one would have said anything if you had just made your points in a non-********-like manner.
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    (Original post by welcometoib)
    7 years is very good actually, most jump after 2-3 years due to burnout. what does your sister do?
    She's a solicitor, works in M&A.
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    (Original post by Classical Liberal)
    Well, bro, if you think about it, this guy is complaining he hasn't been able to find good exits from IB. Why do you think that might be a problem right now?

    It might be partly because lots of very good non-junior people have been booted out of IB and those people have left to go and join the firms OP wants to work at. Almost every single IB has cut its work force back, where do you think all the people who have been made redundant go? Do you think they just magically disappear off the labour market or just spend the rest of their days posting on TSR?
    That's a misconception, the glut of the firing is at the mid-senior level: in other words VPs, Directors, MDs.The juniors generally cost a lot less overall to keep on, and they do all the grunt work so thinking about it from an economic perspective it'd make much more sense to trim down the 'fat' as it were. In most cases, recruiting for these 'exit opps' is done prior to the departure of the junior folks with the process being a long, arduous grind to get through - only favouring the best of the best.

    Based on my friends' experiences, those who get told to leave are the ones who end up out of finance altogether or in random jobs/unemployment. The top level of the analyst class make it through to the buyside and corp dev roles etc, whilst the middling, above average lot are encouraged to stay.
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    (Original post by drowzee)
    She's a solicitor, works in M&A.
    not bad at all, her hours are much longer than his right?
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    (Original post by Awesome Genius)
    It don't know, I don't care and its not important. Its your tone, its so wrong.

    These are all opinions, not statistical analyses so if anyone points out that you're wrong about anything, you will just back it up anecdotally.

    Anyway... as I said, your **** grades are consistent with your lack of ability to understand my objections. No one has agreed with you either.

    14 people repped him, 6 people repped a post that called you a pretentious teenager. As I said, 'pretentious teenager' is not enough for a display of arrogance this enormous. And it is arrogance, not confidence because all you have a track record in so far is getting Ds in Physics.

    No one would have said anything if you had just made your points in a non-********-like manner.
    Another pointless post, nice and you even admitted it was pointless in the first line.

    Have fun chatting to schoolgirls about your prestigious life.
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    lol this thread got derailed with ad hominems you know.

    ppman's post might be a bit harsh but the underlying notion is true.

    (Original post by Awesome Genius)
    x
    Do you work in the IB industry?
 
 
 
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