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The truth about Top 5/10 unis etc

Reply 60

19

slick_rick

Been there, done that! And movida, umbaba, funky buddha...... Don't assume because you earnt fifty odd k that you are now working your way up the rich list. It's a healthy figure for someone your age, but really is not a great deal in the grand scheme of things.

Money is not everything, take it from someone who has been born into it.

While the first bit teaches an important lesson - just because you're good/rich, don't expect that you're better/richer than others, the last sentance is the very good advice. Money is important, in varying degrees to different people, but there are other things that are to. To many people, moreso. I'd rather enjoy my job than earn loads - if I'm going to do something for 2/3 of my waking hours, I'd better enjoy it. The fact that you enjoy IB and enjoy the money doesn't make it the be all and end all. It just makes it a great job for you.

Reply 61

Ashman

I think some people need to get it out of their head that everyone wants to work in IB. True the money is good, but the hours are very long, and some people just arent prepared to work them.

For example: My spare time is hectic even at uni. I spend lot of time reading, playing sport and seeing my partner. Theres no way I could continue with my interests if I worked 100 hours a week, so I didnt apply for any IBs. Just because I value those things above money, it doesnt make me a commie. It just means I have different priorities than some people here.

Different strokes for different folks after all. It doesnt make anyone better or worse than anyone else if they want to work in IB. Its a choice, and not everyone has to want the same thing as you, itd be a crap world if we did. I have friends who live in my home town who are barmen, I dont look down on them as they just wanted a different life than I did

However, I do agree that its just bad form to mention your salary in your signiture though. Goes to show that money cant buy class.

Reply 62

Merriweather

IBs offer a massive variety of work... why does everyone want to do front office?
I'd say 80% of ppl asking on TSR about IBs have never even been to an IB or know what it is they really do....

Reply 63

tenjon

8

No, that's why they ask about them. :rolleyes:

It's an internet forum.

Reply 64

mangomaz

14

slick_rick

Been there, done that! And movida, umbaba, funky buddha...... Don't assume because you earnt fifty odd k that you are now working your way up the rich list. It's a healthy figure for someone your age, but really is not a great deal in the grand scheme of things.

Money is not everything, take it from someone who has been born into it.

That is true, but then I do also think its very easy to say that money isnt everything if you have it. Not that I think money is everything.

Anyway, my two cents for all this. I'm at warwick doing econ and there were still loads of people in my class who had massive internship troubles (myself included boohoo but I'm not here to talk about that). I dont know why that was but loads of us seemed to ***** up! Being at oxbridge/lse does help purely for networking opportunities.

Reply 65

rafabenitez

mangomaz

That is true, but then I do also think its very easy to say that money isnt everything if you have it. Not that I think money is everything.

Anyway, my two cents for all this. I'm at warwick doing econ and there were still loads of people in my class who had massive internship troubles (myself included boohoo but I'm not here to talk about that). I dont know why that was but loads of us seemed to ***** up! Being at oxbridge/lse does help purely for networking opportunities.

Do you mean *****d up as in didnt get an interview or got an interview but didnt get past that stage? Seeing as im doing eco at warwick now, that sounds worrying. lol

Reply 66

President_Ben

15

I'd be very surprised if Warwick students weren't progressing to interview reasonably often.

Otherwise I'm going to reassess my view that they are on par with UCL.

Reply 67

rafabenitez

President_Ben

I'd be very surprised if Warwick students weren't progressing to interview reasonably often.

Otherwise I'm going to reassess my view that they are on par with UCL.

Cool, then I guess its down to the individual candidates for the ******g up.

My friend who works in research said to me that you'd be suprised how many candidates dont know the basics of IB.

Reply 68

astralcars

The internship-hunting period of the 2nd year @ Warwick seemed stressful for many, but I've never heard people suggest they felt disadvantaged relative to those at other unis. That Goldman and Citigroup were carrying out interviews on campus suggests they had a good number to get though. Without data, this becomes an exercise in guesswork unfortunately.

Reply 69

President_Ben

15

Internship hunting everywhere is stressful.

At LSE, a pressure cooker that borders on lethal. Bit like Russia circa 1998 when mafia gangs would paint the town red. And I don't mean drink lots of vodka or restart the great peoples' revolution.

Reply 70

Drogue

19

Except here, for many people. Loads of my friends seem to be completely unstressed, either because they have them, or (more often) because they don't really care too much.

Reply 71

President_Ben

15

Drogue

Except here, for many people. Loads of my friends seem to be completely unstressed, either because they have them, or (more often) because they don't really care too much.

Hmm, I've met people from Oxford and Cambridge at interviews/assessment centres who are bricking it just as much as the next person.

The ones who don't care, don't count :p:

Reply 72

Drogue

19

That's true, though my friends aren't representative. Most of them who care, cared enough that they made sure they knew enough to get one early. Some even did them last year, despite being first years, so have decided to take this summer off to sun themselves. Barstards.

I'm sure most students here who care are stressed, but among my friends, it doesn't seem to be the case :smile:

Reply 73

Big4Monkey

OP

Ashman

I think some people need to get it out of their head that everyone wants to work in IB. True the money is good, but the hours are very long, and some people just arent prepared to work them.

For example: My spare time is hectic even at uni. I spend lot of time reading, playing sport and seeing my partner. Theres no way I could continue with my interests if I worked 100 hours a week, so I didnt apply for any IBs. Just because I value those things above money, it doesnt make me a commie. It just means I have different priorities than some people here.

I work about 55 hours a week. That gives me about 6 hours every evening and every weekend off to pursue other interests, particularly sport. Not all IB is 100hr weeks.

Reply 74

Big4Monkey

OP

Drogue

While the first bit teaches an important lesson - just because you're good/rich, don't expect that you're better/richer than others, the last sentance is the very good advice. Money is important, in varying degrees to different people, but there are other things that are to. To many people, moreso. I'd rather enjoy my job than earn loads - if I'm going to do something for 2/3 of my waking hours, I'd better enjoy it. The fact that you enjoy IB and enjoy the money doesn't make it the be all and end all. It just makes it a great job for you.

All I know is that my life is significantly, significantly better than it would've been if I'd gone into academic research and would currently be on £12k/yr to do a PhD. I am healthier as I have more money to spend on good food. I am more relaxed because I have money to spend on expensive sofas and a huge TV. I am more proud because I drive a great car to work. I am more sexually satisfied because I get fitter women. With all this I have a huge grin on my face every day on my way to work. People who say that money doesn't mean happiness are talking crap. Maybe slick_rick if you've been born rich then you don't appreciate it as much as I have, having been fairly skint at university (until the summer internship!) and now getting to enjoy a life I never imagined.

Reply 75

tuppatopbrer

Back to the point, Imperial... are they in the 1st tier (according to President Ben), or 2nd tier (according to Cititrader)???

Reply 76

Knogle

16

tuppatopbrer

Back to the point, Imperial... are they in the 1st tier (according to President Ben), or 2nd tier (according to Cititrader)???

The line is blur, you can't possible slice neatly through and categorise the universities.

Anyhow IMO Tier 1 = Oxbridge, LSE, Imperial.

Reply 77

Ashman

CitigroupTrader

I work about 55 hours a week. That gives me about 6 hours every evening and every weekend off to pursue other interests, particularly sport. Not all IB is 100hr weeks.

55 hours is also too much for me :p:

I guess you could say Im lazy, but one of my biggest priorities in choosing a job was to have as few hours as possible whilst still being able to afford the basics and 1 or 2 extra things. Obviously I applied to jobs I was interested in, but I wouldnt do anything that required me routinely working more than 48 hours a week (which my contract specifies)

Even though you work "only" 55 hours a week that doesnt include travelling and preperation. Lets say it takes you 1.5 hours in the morning to get ready and to the office, and 1 hour to leave the office, get home, have a short and get changed. That means that 2.5 hours each day are spent not pursuing other interests, but getting to and from work. Add in an hours lunch break each day (which i presume isnt included in your 55 hours figure) and then you find you actually have very little spare time (and i havent even mentioned forced socialising some firms "encourage" :cool:

) Fair play you can manage that, but my gf would castrate me if I returned home routinely at 8pm.

Like I said some people have different priorities: I value my spare time ALOT more than my salary, whilst you obviously care for your salary alot more than I do. I dont consider myself jealous of you, and I think you should stop thinking that everyone is. You have done well, but only in terms of what you think a success is. I am happy with my new job which pays well (top end of the 20s) whilst not having to sign out of that EU law to work more than 48 hours.

Reply 78

President_Ben

15

Bud Fox, Wall Street

Lunch is for wimps

You don't really stop for lunch in the City. And you don't do it for most jobs either. City or not.

Reply 79

Ashman

Erm... everyone i know no matter what their job stops for lunch. E.g. my dad whilst not working in the city is on a 6 figure salary and has an hour for lunch every day. My sister works as a lawyer in the city, she has an hour for lunch each day. My friend works for Deloitte and she has a lunch break. I could go on, the point is I dont actually know anyone who doesnt have a lunch break bar my old boss but thats coz the owner of the shop i worked in was a nut job. Either your statement is wrong (ie about most jobs not having lunch breaks) or my family/friends are just crazed lunch addicts and demand their hour a day. Obviously I dont know much about banking, so your statement could be correct for Investment banking but I cant honestly agree that most jobs dont stop for lunch, atleast not those my friends/family work (i come from an english private school background so most of my friends/family are "professionals")

Also i think people who quote Wall Street should remember that Gordon Geko goes to jail and charlie sheens character wasnt exactly a happy bunny by the end. Most people who quote that film seem to think that the film ends with them rich and happy, when in fact everyones life is ruined and its an damning indictment on 80s greed is good philosophy.

The truth about Top 5/10 unis etc

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