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    What are your reasons for wanting (or already started) a career in IB other than money? Just curious to know...

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    Top 3 reasons for me (in no order)

    Prestige, privledge, people. I like doing something that matters, that enables me to do the other things I want and allows me to work with people I like, respect, admire and can learn from.
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    couldnt have said it better.. for anything you might want to do later, its a good stepping stone
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    (Original post by President_Ben)
    Top 3 reasons for me (in no order)

    Prestige, privledge, people. I like doing something that matters, that enables me to do the other things I want and allows me to work with people I like, respect, admire and can learn from.
    Nice. You sound like your about to graduate for Medicine

    I wouldnt say its about the money. Remember, Investment Banking is a very stressful job, and you have to like it to stay in the game, and get good - something you enjoy. I guess, for me, the money is motivation if I ever do get into IBD. Just my 2 cents.
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    (Original post by WantA*)
    Nice. You sound like your about to graduate for Medicine

    I wouldnt say its about the money. Remember, Investment Banking is a very stressful job, and you have to like it to stay in the game, and get good - something you enjoy. I guess, for me, the money is motivation if I ever do get into IBD. Just my 2 cents.
    You'll have plenty more than 2 cents when you're in IB.

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    I don't think that many people would go into IB if it didn't pay so well, especially M&A.

    Having said that, it is also about liking what you do. You can't pull 100hrs a week on stuff you absolutely hate.
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    (Original post by President_Ben)
    Top 3 reasons for me (in no order)

    Prestige, privledge, people. I like doing something that matters, that enables me to do the other things I want and allows me to work with people I like, respect, admire and can learn from.
    What precisely do you mean when you say "I like doing something that matters"? :confused:

    If you do like doing something that matters, then presumably, you prefer doing things that matter more...

    Shouldn't you be a doctor? Maybe the head of a Third World Development Programme? Don't these things matter?:confused:
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    Yeah, I was going to pick up on that as well. For all the reasons I've heard for people going into IB, wanting to "do something that matters" is perhaps the most ridiculous. As you say, if that was important to you, you would do something for which the good is tangible; saving peoples lives on a daily basis matters, teaching kids to read matters. Earning million-pound profits for Goldman Sachs matters too. Indeed the financial services industry, which IB underpins, is a primary source of our prosperity as a nation. But if you really want to do something 'that matters', I wouldn't choose IB.
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    It's certainly influencial. Doesn't £15mil make a difference?
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    I once asked someone about how being in finance made a difference.

    He pointed out he had recently restructured the debt of a third-world country that enabled it to build it's first major piece of transport infrastructure.

    Maybe making that IPO happens gives the capital to a company which allows it to develop something new and life changing.

    Finance is in the chain of making things happen at a macro level (rather than micro).
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    (Original post by President_Ben)
    I like doing something that matters.
    Actually that's the main reason why I didn't bother accepting an offer in an IB for pretty much the same position I have at a tech company, paid more than 10k less. I want to be able to evolve within a company that matters, that produces something I can feel excited about, that I can then go out and present to customers and feel like I'm producing something for humanity (in a weird geeky techy way). I also felt that with my tech background, I'd evolve in a more interesting way than an IB where the top positions will never be accessible to me.

    Then again if someone is a techy like me, nothing stops you from working in application support or infrastructure and then attempting to move into the high-tech industry later when you want something less stressful...

    As for working as a trader, no way. I'm simply not confident enough and I don't have the ego the size of a small planet.
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    (Original post by President_Ben)
    He pointed out he had recently restructured the debt of a third-world country that enabled it to build it's first major piece of transport infrastructure.
    Typical *******s you'd expect from someone in the industry...

    Just like when I got feedback on a competency based interview I failed. Apparently they weren't happy with my answer to the question "Describe a situation where you helped someone". I told them about the personal tuition I gave to kids attending primary schools in deprived areas...

    The stupid ***** from accenture (they deal with the recruitment for certain companies) told me "I had a great answer from a guy earlier today" and she then proceeded to tell me the story about this guy who wanted to buy a little puppy for his sister's birthday. He decided to go to an animal shelter to buy one but he then saw the conditions in which the animals were living. He told himself he had to do something about this and started raising money on his own and managed to raise 10 000 quid for the shelter.

    Yeah right! :rolleyes:When you've got so many morons around, no wonder these bull****ters get away with it.
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    (Original post by SamTheMan)
    Typical *******s you'd expect from someone in the industry...
    Someone has to restructure debts. In the same way some homeowners change their mortgage and it gives them access to cash which lets them buy a car/go on holiday/get an extension etc.

    You can do the same for a country and it buys you infrastructure.
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    The reason why I started this thread was because my reasons for wanting a career in IB are everything but money. This sounds ludicrous but it’s true even though no one believes me.

    As a computer fanatic, I view it as a challenging computer game, where I must perform under extreme pressure and to the highest expectations or face the ultimate doom of failure. I am not sure if you guys are with me? lol
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    (Original post by President_Ben)
    Someone has to restructure debts. In the same way some homeowners change their mortgage and it gives them access to cash which lets them buy a car/go on holiday/get an extension etc.

    You can do the same for a country and it buys you infrastructure.
    There are ways of presenting things... but to present IB as doing good for humanity is laughable.
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    (Original post by Ibrahim)
    As a computer fanatic, I view it as a challenging computer game, where I must perform under extreme pressure and to the highest expectations or face the ultimate doom of failure. I am not sure if you guys are with me? lol
    That can be a positive thing. Although they might think you're a bit mental...

    Recruiters pick up on the guys who have no interest but money... they can smell them from a mile away.
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    (Original post by SamTheMan)
    That can be a positive thing. Although they might think you're a bit mental...

    Recruiters pick up on the guys who have no interest but money... they can smell them from a mile away.
    Yeah but so what ? Someone who goes into IB only to make money will not necessarily do less good to the bank he's working for ; quite the contrary, I'm tempted to say... I mean, it's not like voluntary job, passion isn't everything in IB? far from it.
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    (Original post by Johan C)
    Yeah but so what ? Someone who goes into IB only to make money will not necessarily do less good to the bank he's working for ; quite the contrary, I'm tempted to say... I mean, it's not like voluntary job, passion isn't everything in IB? far from it.
    That is an exceptionally stupid view to take on it.

    Passion is the most important aspect of any job. I'd think this is particularly telling in the case of IBs. Long & stressful days will ultimately only be rewarding if you actually give a damn about the work you do. If you have a genuine interest and curiosity about banking then fair play, but if not, you ain't gonna last.

    I assume you're someone who wants to get rich. You don't necessarily get rich by working in a bank - you get rich by being very good at what you do.
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    (Original post by Johan C)
    Yeah but so what ? Someone who goes into IB only to make money will not necessarily do less good to the bank he's working for ; quite the contrary, I'm tempted to say... I mean, it's not like voluntary job, passion isn't everything in IB? far from it.
    That's what you think... plus monsieur le français, you live nowhere near London, Paris or Frankfurt.

    Try going to interviews and saying that you just want money. It simply doesn't work like that. I've been to interviews and during breaks I've spoken to managers who are "tired" of seeing arrogant kids who think they're the bomb and will soon be driving a maserati. Litterally what I was told.
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    In all fairness 'doing good' is at the bottom of my agenda when choosing a career. I pay enough tax that i don't give a toss about that aspect. What's Brown just promised Africa? 8bn a year or something? There...that's my doing my bit of good. It might be something i choose to contribute to, but not something that is going to impact a career choice.

    I admire people that choose to do more, perhaps sacrificing a bit of their own wealth/time/etc - but less so their attitude of often ramming it down the throat of those that don't.

    Rant over.

    IB? 'High finance jobs'? - money, the intellectually charged atmosphere i imagine these places foster and the fact whatever you do makes a lot of difference to someone....try getting all (or any?) of those in most medium/large firms in the UK....
 
 
 
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