Anonynmous
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#61
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#61
(Original post by fuuji)
Comp in IBD is generally on level or higher then it was pre crisis.
Not really.

The report is here btw (Hope the image I attached is clear to see)- http://newfinancial.eu/wp-content/up...y-Feb-2015.pdf



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Noble.
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#62
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#62
(Original post by Abdul-Karim)
Diversity is a big focus for many banks.
I agree banks should be hiring a diverse pool of people, I disagree that being a certain colour/nationality/sexuality automatically makes you 'diverse'.
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fuuji
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#63
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(Original post by deborarosa)
There may not be special programmes for them but white men still are the best paid in IB and the poster said he wanted the luxury millionaire life... Aw Sorry...I was in a programme called SEO Scholars (i'm black) but still there were loads of limitations for me too- they didn't let me apply to various opportunities because my parents went to Uni and I wasn't on free school meals. These programmes only help the most disadvantaged of the minorities..
Theres also a lot more white men who apply to the investment banks. Yeah 20-30 years ago that obviously would have been the case, which is probably when the most senior people started their careers. I don't know if you've ever worked at an investment bank, but analyst programs tend to be very diverse and who is going to be the senior people of the future. My MD was a chinese women. When I interned at a BB the vast majority of the intake in sales and trading was black,indian and pakistani.

http://www.goldmansachs.com/careers/...ersity-us.html
https://www.morganstanley.com/people...rships_na.html
http://careers.jpmorgan.com/student/...ty#Recruitment

Most of these don't seem to mention income.
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deborarosa
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#64
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#64
(Original post by Abdul-Karim)
I was also on this programme, benefited from various activities. I fell under the 'most disadvantaged' category. Now at first year of uni, doing very well for myself.

Use SEO as a platform to learn, there's no free lunch, apply like everyone else, utilise all the resources you have. A wise man once said to me "don't ***** and play the cards you're dealt."

Those who say the can and those who say the can't are both usually right.
LOL thanks for the advice I don't even want to do IB (Law for me) but yh I still utilise the opportunities that are given to me...went to KPMG for a day, just for the experience!
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fuuji
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#65
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#65
(Original post by Anonynmous)
Not really.

The report is here btw (Hope the image I attached is clear to see)- http://newfinancial.eu/wp-content/up...y-Feb-2015.pdf


Thats pay at investment banks not pay in investment banking, pay in other divisions like s&t is undoubtedly down, but I think actual investment banking is about on par or higher.
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deborarosa
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#66
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#66
(Original post by fuuji)
Theres also a lot more white men who apply to the investment banks. Yeah 20-30 years ago that obviously would have been the case, which is probably when the most senior people started their careers. I don't know if you've ever worked at an investment bank, but analyst programs tend to be very diverse and who is going to be the senior people of the future. My MD was a chinese women. When I interned at a BB the vast majority of the intake in sales and trading was black,indian and pakistani.

http://www.goldmansachs.com/careers/...ersity-us.html
https://www.morganstanley.com/people...rships_na.html
http://careers.jpmorgan.com/student/...ty#Recruitment

Most of these don't seem to mention income.
No I haven't...I don't want to go into IB lol- hopefully your perseverance works out for you tho!
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Anonynmous
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#67
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#67
(Original post by fuuji)
Thats pay at investment banks not pay in investment banking, pay in other divisions like s&t is undoubtedly down, but I think actual investment banking is about on par or higher.
Oh I assumed you meant investment banking as a whole.

M&A is doing fairly well, Though personally I would take a pay hit than work till 2am doing pitchbooks and excel spreadsheets.
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Stark95
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#68
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#68
(Original post by Inflintude)
Hello everyone,

I'm 17 years old studying Economics, Maths and German for my A-levels, getting straight A's in my tests and I've always wanted to be an Investment Banker.
I've have been watching the stock markets and looking how other top bankers made their millions to live the luxury life. I've heard it's hard to get into the Investment Banking field and not many people can become a millionaire.
My dad is a banker for HSBC and he's been telling me where he went wrong so I don't have to do the same mistakes. He told me about getting an MBA and to keep pushing myself and work hard.

Any other advice would be great,
Thanks.
Where did he go wrong?
Tell . Us. Everything .
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newblood
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#69
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#69
(Original post by Noble.)
lol a CS trader said to me last year

"You're Oxbridge, white and male... good luck you're going to need it"

(apparently CS put a 'cap' on the number/proportion of Oxbridge applicants they interviewed this cycle - don't know how true it is, seems ridiculous)
Surprising given every Oxbridge person I know who applied to CS got an offer...i had assumed they loved them. Though perhaps this is why they realised they need to put a cap... swings and roundabouts i guess
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Noble.
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#70
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(Original post by newblood)
Surprising given every Oxbridge person I know who applied to CS got an offer...i had assumed they loved them. Though perhaps this is why they realised they need to put a cap... swings and roundabouts i guess
What, this cycle or the year before and previous? This year, practically everyone I know got outright rejected for both IBD and S&T, compared to the year before when you got a first round interview as soon as they saw you were at Oxbridge. This supposed cap was only introduced for this cycle.
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cole-slaw
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#71
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#71
Why don't you get a worthwhile ambition? Simply wanting to be rich is extremely immature and will ultimately lead you to an unhappy and unfulfilling life.

Don't squander whatever talent you actually have.
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Brubeckian
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#72
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#72
(Original post by cole-slaw)
Why don't you get a worthwhile ambition? Simply wanting to be rich is extremely immature and will ultimately lead you to an unhappy and unfulfilling life.

Don't squander whatever talent you actually have.
So I can ride a yacht in da ocean innit.
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natninja
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#73
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#73
(Original post by iPixelBlue)
true, i agree eg. a geography degree would be sufficient for trading etc. But if you want to go to a TOP bank then you should maximise your chances. Those subjects give you a better chance (assuming you get a 1st or high 2:1 from those unis i mentioned), everything else held constant.

Non-elite banks would be more okay with an arts degree from Nottingham/Southampton etc.
Just saying but from my perspective as an Oxford student classics students seem to have it the easiest and maths/science students seem to struggle the most... also rowers seem to literally be able to walk right in...
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VannR
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#74
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#74
So much IB talk on this forum, but why so little discussion of quantitative analysis? Is it because it requires a great deal more mathematical/computational skills than IB, making IB seem like an 'easier' option? I'm just curious because quants receive very good salaries as well, but no one seems to speak about wanting to be one.
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Brubeckian
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#75
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#75
(Original post by VannR)
So much IB talk on this forum, but why so little discussion of quantitative analysis? Is it because it requires a great deal more mathematical/computational skills than IB, making IB seem like an 'easier' option? I'm just curious because quants receive very good salaries as well, but no one seems to speak about wanting to be one.
I'm interested in being one, maybe it's because people who are actually interested in being quants are busy studying? No time for bickering on here :P Seeing as most of them would be CS/Maths undergrads from Oxbridge/Imperial.
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Exceptional
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#76
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#76
By selling your soul


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VannR
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#77
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#77
(Original post by Brubeckian)
I'm interested in being one, maybe it's because people who are actually interested in being quants are busy studying? No time for bickering on here :P Seeing as most of them would be CS/Maths undergrads from Oxbridge/Imperial.
Would you say that only graduates from top places have a chance? I'm studying computer science at RHUL from the autumn, but I am also continuing my study of mathematics beyond my current 'Further Maths' level of understanding (partial differentiation, linear algebra, theoretical statistics), so that I can hopefully get onto a good masters course in the field.

I guess I am asking whether you think that if I get a BSc at RHUL, and a MSc at a higher-ranked place (possibly Oxford), if I would have a realistic chance of getting into an 'algorithmic trading' position. I'm hoping that quant recruitment focuses a little more on skills and ability than having studied XYZ, just so long as it was at a good university, as is the case for IB.
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Princepieman
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#78
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(Original post by VannR)
Would you say that only graduates from top places have a chance? I'm studying computer science at RHUL from the autumn, but I am also continuing my study of mathematics beyond my current 'Further Maths' level of understanding (partial differentiation, linear algebra, theoretical statistics), so that I can hopefully get onto a good masters course in the field.

I guess I am asking whether you think that if I get a BSc at RHUL, and a MSc at a higher-ranked place (possibly Oxford), if I would have a realistic chance of getting into an 'algorithmic trading' position. I'm hoping that quant recruitment focuses a little more on skills and ability than having studied XYZ, just so long as it was at a good university, as is the case for IB.
You should ask these guys:

(Original post by Noble)
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(Original post by samba)
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samba
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#79
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#79
(Original post by Princepieman)
You should ask these guys:
lol, don't ask me. I'm just a noob that codes things sometimes and likes a bit of game theory. My advice would always be 'do something that interests you if you want to be successful' anyway.Other than that, maths, programming, ability to think outside the box, and ability to bull**** at interviews all help. (that said my new app should make a few hundred k mwahaha and all it does is exploits matched betting in sports)

And OP, the top shops care about ability, not which uni you went to. It's always a lot easier to get a first round interview, but if you want to get through the 7th round with a job, you best be on your game.
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Brubeckian
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#80
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#80
(Original post by samba)
lol, don't ask me. I'm just a noob that codes things sometimes and likes a bit of game theory. My advice would always be 'do something that interests you if you want to be successful' anyway.Other than that, maths, programming, ability to think outside the box, and ability to bull**** at interviews all help. (that said my new app should make a few hundred k mwahaha and all it does is exploits matched betting in sports)

And OP, the top shops care about ability, not which uni you went to. It's always a lot easier to get a first round interview, but if you want to get through the 7th round with a job, you best be on your game.
Hey, this is unrelated but how hard it to make bank via making a top selling app?

I mean say I created something equivalent of flappy bird which was extremely popular for a short period of time, would I be looking at a couple of grand or millions?
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