Yet Another Thread on Investment Banking!

portugal

Lots of jobs up for grabs in accountancy (1400 graduate by PwC alone this year i believe). Job security, reasonable pay, very good qualifications and a "nice" place to work - also many apply as a back up for banking.

Nice = reasonable hours and the significantly lower stress. Not sure anyone is that interested in the qualification as such.

V1000 - I imagine Cambridge has a similar performance to Oxford.

Reply 25

Brown Patrick Bateman

10

Also accountancy's a lot more accessible than IB - the Big 4 alone are taking on over 3,000 graduates this year!

Reply 26

Accountancy is much more reliable and secure as a profession than IB.

Reply 27

Roll-The-Dice-And-Win

1

Lover_21

Accountancy is much more reliable and secure as a profession than IB.

can you expand on that please. Learn to see things in a wider perspective.

Reply 28

I'd rather not expand on it. As far as I can assume, you are one of those kids who dreams of living the life of aston martins and flash canary whalf apartments. If you have yet not figured that Accountancy is much more secure than IB then you need to change your aspiration. Although, I hope you do not as you have a very good chance with your Masters.

Reply 29

CityMonkey

11

mussy123

can you expand on that please. Learn to see things in a wider perspective.

Banks tend to wildly start firing when things go for the bad, e.g. the dot.com bubble and downturn in 2001. They will actually fire a good chunk of their staff. Accountancy is much less susceptible to economic downturns and so you won't lose your job so easily. As they say, the star that shines the brightest lives half as long.

Reply 30

City bound

If I was looking for job security then I would have stayed on the path to engineering. As it happens, I'm not. I for one am happy to take my chances with IB because it means a faster pace of life.

Reply 31

Sorry but who was asking your life choices City Bound?

Reply 32

Roll-The-Dice-And-Win

1

Allot of my family members are Chartered Accountants and its pretty boring to see them doing cash flows, balance sheets and reports everyday. Its a static job. Accountancy doesnt involve allot of meeting people, doing deals, negotiating, doing complex modelling and analysis like in investment banking. All you do is sit on your chair and crunch numbers in Excel.

Investment banking on the other hand is challenging, dynamic and fast paced. I enjoy working in a pressurized environment where one business day is different to the previous. Theres nothing like waking up at 7am in the morning to see the company you invested in reporting 'profits exceeding market expectations'. That rush of seeing those Level 2 buy orders coming in and making the stock fly high....

IB any day.

It depends on what makes you tick :biggrin:

Reply 33

City bound

Lover_21

Sorry but who was asking your life choices City Bound?

Chill. Just a perspective from someone looking at IB. Your argueing for job security with some people who, on average, don't consider it a primary objective.

Reply 34

Who needs jobs security when you get monetary security? An economist might argue.

Reply 35

What if you get a job offer at a top notch Bulge firm and one year down the line markets begin to spiral down towards hell. How much are you going to earn in that first year which will provide you with monetary security? You make me laugh President Ben. Nice name though, if only it was true.

Reply 36

TheAP

9

Lover_21

What if you get a job offer at a top notch Bulge firm and one year down the line markets begin to spiral down towards hell. How much are you going to earn in that first year which will provide you with monetary security?

You can still make money in a falling market, but of course, you already know this.

Reply 37

Lol really? Enlighten us on why the fools in 1929 lost everything then? Enlighten us why the fade of the .com era caused losses for many?

Reply 38

Lover_21

What if you get a job offer at a top notch Bulge firm and one year down the line markets begin to spiral down towards hell. How much are you going to earn in that first year which will provide you with monetary security? You make me laugh President Ben. Nice name though, if only it was true.

A nice Greeky guy called Yiannis at one of the BBs told me that 9 out of 10 people are Presidents at some point.

Anyway, even during the worst seasons, the cuts made are usually at high end pay and at recruiting new people.

Mind, the salary of one year in banking is about double that of being out of it. Meanwhile, I'm still highly employable and able to get work elsewhere.

Boohoo.

Monetary security.

You're a third rate economist at best. Take that from a second rate one :wink:

Reply 39