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    I hear its a pretty stressful job respectively with 'normal ish hours' but immense pressure.

    Are you doing a levels at the moment ? It's almost certain you will need a degree to try break through the fields.


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    Essentially, then, you know nothing about the job and just fancy the salary. Yes?
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    (Original post by Jkizer)
    I hear its a pretty stressful job respectively with 'normal ish hours' but immense pressure.

    Are you doing a levels at the moment ? It's almost certain you will need a degree to try break through the fields.


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    No I'm in high school doing GCSE's and this is something I have considered & how hard is it to get? Is it as easy as working as your local shop and as hard as getting a job as an Astro-neuro-phD-scientist (yes I made it up)


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    (Original post by w0tSuhail)
    No I'm in high school doing GCSE's and this is something I have considered & how hard is it to get? Is it as easy as working as your local shop and as hard as getting a job as an Astro-neuro-phD-scientist (yes I made it up)


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    Well I'm guessing no degrees are easy at all, and I'm sure in investment banking you will learn complicated mathematical models/theories/explanation as well as many economic topics. Starting salary I heard is like £40k that's IF you are able to make it. Your in lower or higher year of gcse ?


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    Expect to have long hours and a lot of work pressure.
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    Very long hours. Pay is okay when you first start (better than most although not so great when you divide it by the hours), the pay and hours both get better as you become more senior. It depends what division you work in though. I met a banker who'd worked 22 hours in a day not too long ago, that isn't exactly a regular thing though, the hours are usually a fair bit less than that.

    Also depends what you mean by investment banker. Investment banker and trader are both very different roles (traders do less hours as they work in line with the markets plus a few other other things). Also you work pretty much normal hours in Operations/Finance type roles (Back Office). But the pay isn't quite as a high and opportunities probably not quite as good. Look at all the different roles though and pick what you'd enjoy

    You need stellar A-Levels/GCSEs and a degree ideally from a top university, banks have what they call 'targets' and these incluxe Oxbridge, LSE, Warwick and UCL mostly and you could probably make it from a couple of others with some perseverance. Leadership experience is pretty good too along with extra-curriculars and voluntary work etc. They look for the whole package, no point in having stellar grades if you have nothing else.

    A fair number of banks also run final year insights for A-Level students which are good so look out for them! It gives you a good idea of where you might like to work and the opportunity to speak to a lot of different people

    By the way, those on seven figure salaries are less than 0.5-2% on average apparently (depends on bank) so that's the minority and they're usually the most senior people. Investment Banker first year out of university: 45k-65k, have no idea about what a trader gets but probably isn't that different. And obviously that increases year on year.

    Also don't just enter this for the money, you won't survive. You have to like the job and what you do. You get questioned a lot in the recruitment process about motivations and you need a good answer. But seriously, pick a role you'd enjoy and not just one that pays the most.

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    (Original post by w0tSuhail)
    Hey I'm still young and in high school and I've always wanted to be an Investment Banker because the pay is incredible and the job sounds great but I haven't seen much on what you need and stuff; what does it actually take to become an investment banker? & also what would a daily day be like? & roughly how much is the annual pay?



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    Pay depends, when you get in, like a graduate program as far as I'm aware at most £50k a year with many benefits. With a bonus, then pay rises depending on your performance, etc.

    Remember that Investment banking is a general term, there are numerous parts to such a bank, like literally loads, so think about that part as well and your interests.

    "Job sounds great", you mean the pay sounds great..........depending on which part you wanna get into, but even then you actually work quite a bit more than what your actually contracted to do. Even more so if your in front office which is where all the money is made, so expect coming home late, waking up very early and so on. From my understanding, quite a few people make quite a lot, and burn out and take up a less demanding job.

    If you wanna get in, well expect to work incredibly hard.........ideally go to a target university, get good marks, get work experience or summer internship in your 2nd year, etc. Its just a lot and a lot of work, and once you're in even more work and work, much more.

    Definitely think about, there are other jobs in the world, where its good pay and good hours, and a few years down the line the pay very good and you still aren't overwhelmed by stress or work. But if you can handle Investment banking at the beginning, then eventually your hours will go down, but depending on what happens, as far as I'm aware when I did a internship back at A-level most people know each other from similar departments from other banks once they've been there awhile, as they get poached or offered a better deal on salary and hours.

    Look at this thread, has a lot of helpful info and links if you wanna know more http://www.thestudentroom.co.uk/showthread.php?t=259237
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    1) Get a B or higher in Maths at GCSE

    2) Take Economics and Mathematics at A-Level- Make sure you get some A's and B's in there

    3) Look at league tables for top 10/20 Universities for either; Mathematics, Economics, Finance, or a science degree that involves lots of maths. Looking at Oxford, Cambridge, LSE, Warwick, Manchester, Strathclyde etc

    4) Get some work experience working in an investment bank, like a 1 week period during A-levels (will look good on CV & shows interest) Ask your parents if they have any contacts/friends in the industry.

    5) Make sure you come out of University with a 2:1 (essentially a B) And try and get a placement over summer in your 1st/2nd year. Also get lots of experience in extra curricular such as sports/academic societies/musical

    6) Apply to investment banking firms; Morgan stanley, Hargreaves Lansdown, Bank of America (have branches in U.K) and all of the high street banks you know also have investment divisions too). You can find many more with a quick google search

    7) Nail the interview and work your arse off, THENNNNN you will be rich. Try and remember all of this.

    The main message I'm trying to hammer through is work REALLY hard and get lots of experience, that's what employers want. Develop presentation and personal skills and achieve highly where you can.
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    (Original post by w0tSuhail)
    Hey I'm still young and in high school and I've always wanted to be an Investment Banker because the pay is incredible and the job sounds great but I haven't seen much on what you need and stuff; what does it actually take to become an investment banker? & also what would a daily day be like? & roughly how much is the annual pay?



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    Dream job or dream money?

    People tend not to last/not to perform in jobs they don't enjoy, even if the remuneration is great, like IB.

    IB is massively talked up by wannabe bankers on here as well, so be wary of that. It isn't all Patrick Bateman.
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    (Original post by will2348)
    Very long hours. Pay is okay when you first start (better than most although not so great when you divide it by the hours), the pay and hours both get better as you become more senior. It depends what division you work in though. I met a banker who'd worked 22 hours in a day not too long ago, that isn't exactly a regular thing though, the hours are usually a fair bit less than that.

    Also depends what you mean by investment banker. Investment banker and trader are both very different roles (traders do less hours as they work in line with the markets plus a few other other things). Also you work pretty much normal hours in Operations/Finance type roles (Back Office). But the pay isn't quite as a high and opportunities probably not quite as good. Look at all the different roles though and pick what you'd enjoy

    You need stellar A-Levels/GCSEs and a degree ideally from a top university, banks have what they call 'targets' and these incluxe Oxbridge, LSE, Warwick and UCL mostly and you could probably make it from a couple of others with some perseverance. Leadership experience is pretty good too along with extra-curriculars and voluntary work etc. They look for the whole package, no point in having stellar grades if you have nothing else.

    A fair number of banks also run final year insights for A-Level students which are good so look out for them! It gives you a good idea of where you might like to work and the opportunity to speak to a lot of different people

    By the way, those on seven figure salaries are less than 0.5-2% on average apparently (depends on bank) so that's the minority and they're usually the most senior people. Investment Banker first year out of university: 45k-65k, have no idea about what a trader gets but probably isn't that different. And obviously that increases year on year.

    Also don't just enter this for the money, you won't survive. You have to like the job and what you do. You get questioned a lot in the recruitment process about motivations and you need a good answer. But seriously, pick a role you'd enjoy and not just one that pays the most.

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    45-65k is an unreal amount of money.

    Part of me thinks it's a disgrace that banks have so much money to throw around that they can afford to pay someone fresh out of university, 21 years old, that much money.

    Then I think that they're going to be paying a lot of tax, so the state sees a huge benefit.

    I'm torn. I really don't think it's right that banks could so catastrophically balls everything up and still pay unbelievable sums of money to kids, essentially, but those obscene sums of money end up being partially plowed back into the economy.

    Hmm. Suppose making money earns money?
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    (Original post by w0tSuhail)
    No I'm in high school doing GCSE's and this is something I have considered & how hard is it to get? Is it as easy as working as your local shop and as hard as getting a job as an Astro-neuro-phD-scientist (yes I made it up)


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    Yes, managing vast sums of money is absolutely as easy as ringing a Snickers and a can of Coke through the till in your local shop.

    Although the working hours are probably longer in your local corner shop.
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    It's a difficult job but it is disgraceful how much some of them get paid. And often it's financed by bank of england loans which is the peoples central bank. This is quite an eye-opener http://www.youtube.com/watch?v=XcGh1Dex4Yo
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    GCSE Kids 'advising' GCSE Kids.
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    You have to do more research. Sounds like you just fancy the money and tbh that isn't anywhere near enough motivation to make it, let alone survive.
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    (Original post by will2348)
    Also don't just enter this for the money, you won't survive. You have to like the job and what you do. You get questioned a lot in the recruitment process about motivations and you need a good answer. But seriously, pick a role you'd enjoy and not just one that pays the most.
    Thought your post was good but I don't fully agree with this.

    Virtually no-one in IB actually likes their job - I mean, how could you? You're not creating any real value, the work atmosphere is aggressive at best, you're the scapegoat of all of society, ... it is very good money indeed, you can build a good network and it will allow you to move on to pretty much any role in finance/business - but it's hardly something you'll be doing for 30-40 years simply because you enjoy it. Some people do just that, but usually they have neuroses/complexes and the job flatters and reaffirms them. You don't want to have one of them as your boss...
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    (Original post by ilickbatteries)
    45-65k is an unreal amount of money
    Is it?

    I think the majority of graduates (save for excelling Masters and PhD graduates) will come in at the lower end of the bracket.

    And now watch that salary disappear...

    45k
    - 15k in taxes
    - 1k for insurances
    - 14k for rent in a good location in London's zone 2
    - 1k for an annual travelcard

    That leaves you with 1.2k per month to spend - and that's if you don't have a car, save nothing and don't go on holidays. Might sound a lot to a student but believe me it's not, particularly when you work in such a superficial industry and are surrounded by people throwing money around.
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    (Original post by TitanicTeutonicPhil)
    Is it?

    I think the majority of graduates (save for excelling Masters and PhD graduates) will come in at the lower end of the bracket.

    And now watch that salary disappear...

    45k
    - 15k in taxes
    - 1k for insurances
    - 14k for rent in a good location in London's zone 2
    - 1k for an annual travelcard

    That leaves you with 1.2k per month to spend
    You need to get someone who knows maths to check your taxes because you're probably getting ripped off.

    You get taxed 20% on your first 32010 and 40% on the remainder meaning tax. Earning £45k means you only pay £11.5k not £15k

    Also having over £33,000 left of disposable income is relatively high, it's up to you how stupidly or wisely you spend it but i can tell you i wouldn't end up just £1.2k per month.

    ________________________________ ________________________________

    @OP There's no such thing as dream job, you're just being a brainwashed little nerd like the majority of school kids that come on this forum acting like working 24 hours a day with a **** social life and no sleep is what you were destined to do ever since you were born. I bet you're one of those people that get heart attacks when they get fired because they associate wayyy to much value on doing that particular job.

    You're only in high school I bet you haven't even looked at other jobs in finance so if you end up being an I-B you're just living other people lives and not yours.

    Having a job is a way to get income and there are hundreds of different jobs you can go into, get the best GCSE's you can and A-levels and try and go to the best university but just know that investment banking is not the only job out there do some research on other jobs aswell.
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    (Original post by CoolStoryBroo)
    You need to get someone who knows maths to check your taxes because you're probably getting ripped off.

    You get taxed 20% on your first 32010 and 40% on the remainder meaning tax. Earning £45k means you only pay £11.5k not £15k
    Didn't bother looking up the British tax rates as I assumed they were similar to the German ones I am taxed by. Thanks for the heads-up... lucky *******s, you lot.

    (Original post by CoolStoryBroo)
    Also having over £33,000 left of disposable income is relatively high, it's up to you how stupidly or wisely you spend it but i can tell you i wouldn't end up just £1.2k per month.
    Well I would/did. Work hard, play hard, you know. Luckily my 45k-days are in the past...
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    (Original post by ilickbatteries)
    45-65k is an unreal amount of money.

    Part of me thinks it's a disgrace that banks have so much money to throw around that they can afford to pay someone fresh out of university, 21 years old, that much money.

    Then I think that they're going to be paying a lot of tax, so the state sees a huge benefit.

    I'm torn. I really don't think it's right that banks could so catastrophically balls everything up and still pay unbelievable sums of money to kids, essentially, but those obscene sums of money end up being partially plowed back into the economy.

    Hmm. Suppose making money earns money?
    Most of them are a little older than that these days, and not so 'fresh' out of university.
 
 
 
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