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    (Original post by Kadak)
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    What do you guys find good about this job?
    Was wondering what the other guys/gals here think about their favourite thing about the job as well....

    I like following and having an opinion on finance, econ/ current affairs, and I like the highly analytic aspect of M&A: a lot of analysis, etc. Also I truly don't mind spend all my time working :P
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    (Original post by Kadak)
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    What do you guys find good about this job?
    How about you?
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    (Original post by lizzygrant)
    How about you?
    I'm not interested in IB, I just wondered why guys are willing to do so much gruelling interns at banks in the hope of being a IB.I wonder what's so attractive about it?
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    (Original post by Kadak)
    I'm not interested in IB, injustice wondered why guys are willing to do so much gruelling interns at banks in the hope of being a IB.I wonder what's so attractive about it?
    This actually brings me to another point... I like the challenge of the recruitment process. I do like trying hard to achieve something challenging, and first year uni one can have quite some free time to explore their choices basically :P Also the experience of writing applications, interviews and assessment centres that I and many people here got is equivalent to a normal final year student trying to get a job. If I ever change my mind next year it will help me quite a lot with application as the skill is transferable.

    Guys - you guys should answer his question
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    (Original post by Kadak)
    I'm not interested in IB, I just wondered why guys are willing to do so much gruelling interns at banks in the hope of being a IB.I wonder what's so attractive about it?
    1. Learning Curve
    2. Hyper Career Progression & Exit Opportunities
    3. Money

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    (Original post by Kadak)
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    What do you guys find good about this job?
    Personally I believe it is not a job for life. Unlike what most people argue, a banking job is usually for the short term (1-3/4 years).

    Try to do it for a few years when you are young, as it will teach you discipline, hard work and (the BB banks at least) give you world-class training. However, definitively move out of the industry when you believe is the right time and have made enough connections/money (saved it).

    Many former iBankers move to Hedge Funds, Private Equity and Venture Capital Funds or become asset/investment fund managers afterwards, since the hours appear to be better and the pay just as good (if not often better). A few of them actually become entrepreneurs (heard of a GS trader who quitted his job and started a food delivery business in the City of London) or maybe join the public sector.

    At the end of the day the investment banking industry is just moved by money, greed and private interest (Bankers mainly sell their souls for higher cheques and bonuses and wouldn't wait a minute to leave their current financial institution to accept the offer of another bank providing a better pay. Also, if the industry wasn't moved by money, you wouldn't see people with bloody Biology or History degrees applying to banking). Not much has changed in the banking culture since the financial crisis and I do not see any way in which investment banks can benefit the society and the public as a whole. They might say they provide funding to enterprises but, apart from that, it is pretty much private money-making. Also, without enterprises, I-banks would't even exist.

    I like to compare the many wanna-be bankers to children who aspire to become footballers. Only a few of them will really make it big. Illusion for many, reality for a few.

    Bottom line: try to experience it as long as you can and want, but then move over. There are way more meaningful things in life than banking and, if your goal is real financial freedom, create different sources of income by becoming an entrepreneur or investor other than relying just on a salary, however high it may be.

    Look at the Forbes' World's 200 Richest People list - you won't find any investment banker or employee I'm afraid..they're all entrepreneurs and even if they operate in the finance industry, they're certainly not working for someone else.
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    (Original post by Lorenzo.S)
    That sounds like really good fun
    Tell me about it. :rolleyes:

    (Original post by Kadak)
    What do you guys find good about this job?
    The entrepreneurial mindset you build, working alongside the smartest most capable people, the compensation, the 24/7 grind.

    I don't want to live an 'average' life, where you work 9-5 then go home. The graduate programmes provide you with a solid ground for exit opportunities. Investment Banking is considered the breeding ground for business leaders. Generally, I would look to exit 2-3 years down the line, after I finish the grad programme.

    Maybe enter financial research such as at a company like bloomberg or do something else. If not, maybe move areas within banking, just to keep fresh and learn more.
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    (Original post by Abdul-Karim)
    Tell me about it. :rolleyes:
    I don't want to live an 'average' life, where you work 9-5 then go home.

    Investment Banking is considered the breeding ground for business leaders.
    The 'non-average life' idea you are talking about seems silly somewhat. Bear in mind that you would still be a person in a huge corporation with thousands of employees worldwide. Banks might care about you as a person much less than you might think. The nice things you hear about are part of the 'attraction phase' imo.

    Also, earning a lot of money and working 24/7 does not really make you more successful or 'ethically better' than, say, a sales manager at Shell or an architect or a chef. Everyone has his/her own career and life ambitions and background, and the fact that you are or want to be a banker does not make you 'better' than people who you might consider 'average' just because they aspire at doing different things in life.

    As to the fact of investment banking being the breeding ground for 'the leaders of tomorrow', I believe it is another big misconception. Let's not forget the 2008-2010 crisis, of which we are still paying the consequences to some extent. Banks bailed out by states, millions of people without jobs, the world on its knees just because of folks packing and selling junk financial products around the globe.

    Also, past cases such as Nick Leeson, the rogue trader who made Barings, UK's oldest merchant bank, fail, causing terrible consequences for thousands of people...I doubt somewhat that an environment that has always been (and always will be) ruled by greed, fear and focus on short-term profit would churn out world leaders.
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    (Original post by Lorenzo.S)
    The 'non-average life' idea you are talking about seems silly somewhat. Bear in mind that you would still be a person in a huge corporation with thousands of employees worldwide. Banks might care about you as a person much less than you might think. The nice things you hear about are part of the 'attraction phase' imo.

    Also, earning a lot of money and working 24/7 does not really make you more successful or 'ethically better' than, say, a sales manager at Shell or an architect or a chef. Everyone has his/her own career and life ambitions and background, and the fact that you are or want to be a banker does not make you 'better' than people who you might consider 'average' just because they aspire at doing different things in life.

    As to the fact of investment banking being the breeding ground for 'the leaders of tomorrow', I believe it is another big misconception. Let's not forget the 2008-2010 crisis, of which we are still paying the consequences to some extent. Banks bailed out by states, millions of people without jobs, the world on its knees just because of folks packing and selling junk financial products around the globe.

    Also, past cases such as Nick Leeson, the rogue trader who made Barings, UK's oldest merchant bank, fail, causing terrible consequences for thousands of people...I doubt somewhat that an environment that has always been (and always will be) ruled by greed, fear and focus on short-term profit would churn out world leaders.
    The environment shouldn't be that extreme as you think. Crisis caused changes in regulation, which essentially means that it makes IBers do the job that they are supposed to do. And not all people are greedy and short-term driven - I'm not saying that there are no greedy leaders but again that should be the job for the regulators isn't it, to ensure IB contributes to the economy.

    Also the point that Abdul-Karim made, I think it is about the skill set you learnt, the rigorous experience you got and the finance knowledge that will help you with your career change, to hedge fund and what not as he said earlier.

    I am still optimistic about this industry. Because the crisis has happened, it means the world knows how IBers need to change their attitude, and they should.
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    (Original post by lizzygrant)
    I think some were interviewed by employees there, some were interviewed by HR (I was). The interview only lasted 15 mins so can't see any point why they asked brain-teaser, they didn't even ask me any competency questions there.



    What does that mean???? Can you tell us please?
    my one was the last one on friday i think (5pm) but he rescheduled to 5.30 as it was quite busy near the end of the day. i thought it would only last 15 mins but mine was more like 35 :/
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    (Original post by youraveragestudent)
    my one was the last one on friday i think (5pm) but he rescheduled to 5.30 as it was quite busy near the end of the day. i thought it would only last 15 mins but mine was more like 35 :/
    You were either too good or your interviewer was too bored haha. But that is a good sign though, finger crossed (even if their programme is only one day )
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    Hear tomorrow for it? Or from tomorrow onwards..(RBC)


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    (Original post by gerry_m)
    Hear tomorrow for it? Or from tomorrow onwards..(RBC)


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    To quote the HR lady directly - "The week from 23 March", i.e. sometimes next week

    Also any one knows if it it clash and they ask me if I can attend, what should I say? And usually if it does clash and I will not be able to attend their programme will they give me some kind of fast-track to the other programme application or that's it?
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    There's no fast track for RBC anyway


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    (Original post by gerry_m)
    There's no fast track for RBC anyway


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    Thanks, how about for other banks? And for RBC they made us doing all those test for nothing, what a shame
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    I know crazy. I think most of them do fast tracks apart from RBC...


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    (Original post by gerry_m)
    I know crazy. I think most of them do fast tracks apart from RBC...


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    Do you mind if I ask what offer has you got and what division are you interested in?
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    (Original post by Abdul-Karim)
    Tell me about it. :rolleyes:



    The entrepreneurial mindset you build, working alongside the smartest most capable people, the compensation, the 24/7 grind.

    I don't want to live an 'average' life, where you work 9-5 then go home. The graduate programmes provide you with a solid ground for exit opportunities. Investment Banking is considered the breeding ground for business leaders. Generally, I would look to exit 2-3 years down the line, after I finish the grad programme.

    Maybe enter financial research such as at a company like bloomberg or do something else. If not, maybe move areas within banking, just to keep fresh and learn more.
    Pretty sure that's consulting

    I'd rather aim for StratCon/Tech Product Management than IBD but I wouldn't mind either tbh. IBD only gets interesting at the VP+ stage, most of it below that is just glorified admin.

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    (Original post by lizzygrant)
    The environment shouldn't be that extreme as you think.

    Also the point that Abdul-Karim made, I think it is about the skill set you learnt, the rigorous experience you got and the finance knowledge that will help you with your career change, to hedge fund and what not as he said earlier.

    I am still optimistic about this industry. Because the crisis has happened, it means the world knows how IBers need to change their attitude, and they should.
    I believe the environment is more extreme than both me and you might think.

    I agree with the great training and entrepreneurial learning in IB and clearly stated that in my post.

    I can agree you are optimistic about the industry because I am also working to get in for a few years before moving to VC & PE. However, I believe you should always be looking at the banking environment from a cold, unbiased perspective, as I seriously doubt a significant cultural change has actually occurred since the global meltdown. A friend of mine who did Maths & Econ at Warwick and worked for 2 years as M&A analyst at Lazard has just quitted his job to start an online marketing business with former uni mates. He said "I will never go back to finance". I do not wanna generalize because I am also fascinated by the unique nature of the banking and finance industry; still, his words should tell you something important.
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    (Original post by lizzygrant)
    You were either too good or your interviewer was too bored haha. But that is a good sign though, finger crossed (even if their programme is only one day )
    haha hoping it was the first! surprising that they take it SO seriously for a one day programme. it says on their site that there's no fast track but apparently last year everyone who attended was told that they would in fact be FT'd
 
 
 
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