What made you think IB?

High Stakes

I'm interested in what people's motivation is for seeking a career in investment banking.

2am pitchbook edits

Watching 8 screens for 8 hours drinking 8 red bulls.

Reply 3

Commercial Paper

Getting a free dinner at night.

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Reply 4

username738914

Shooting the crap, banter, camaraderie.

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Reply 5

Confusedjeremy

My sleeping cycle matches the investment banking work hours, basically none.

Reply 6

fuuji

Original post by Econight

Watching 8 screens for 8 hours drinking 8 red bulls.

Are you slightly confused what investment banking is? I only got 2 screens and the hours are a bit more then 8.

Reply 7

gr8wizard10

Original post by fuuji

Are you slightly confused what investment banking is? I only got 2 screens and the hours are a bit more then 8.

Traders maybe who work market hours. 8-8 is standard in trading. IB is a very vague term, I suppose you mean IBD

Reply 8

watch your mouth

Original post by Abdul-Karim

Traders maybe who work market hours. 8-8 is standard in trading. IB is a very vague term, I suppose you mean IBD

Investment banking is known as 'as trading your youth to the devil for money ' because you spend your young years working your ass off unbelievably for **** outcomes and only when you get old you get rich

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Reply 9

gr8wizard10

Original post by watch your mouth

If you like

Reply 10

fuuji

Original post by Abdul-Karim

Traders maybe who work market hours. 8-8 is standard in trading. IB is a very vague term, I suppose you mean IBD

Yeah I'm sure he meant trading, was just being a dick.

Original post by watch your mouth

I wouldn't call the outcomes ****, they're not incredible, but a 45k base 10k signing and maybe a 20ishk bonus isn't bad for your first year out of uni. My mate who works at a tiny boutique investment bank in soho got a bonus of 40k in his first year and he only works to 11 most nights and gets to go to loads of cool tech conferences and pitches because his firm is like 10 people. If you go to the buyside after being an analyst for 2 years and place well you can make a fair bit of money in your late 20s. No ones old in IB, my MD was like mid 30s and she was the oldest person in the office.

Reply 11

username738914

Original post by fuuji

Yeah I'm sure he meant trading, was just being a dick.

I wouldn't call the outcomes ****, they're not incredible, but a 45k base 10k signing and maybe a 20ishk bonus isn't bad for your first year out of uni. My mate who works at a tiny boutique investment bank in soho got a bonus of 40k in his first year and he only works to 11 most nights and gets to go to loads of cool tech conferences and pitches because his firm is like 10 people. If you go to the buyside after being an analyst for 2 years and place well you can make a fair bit of money in your late 20s. No ones old in IB, my MD was like mid 30s and she was the oldest person in the office.

It is so awesome to have actual bankers on here for once!

What boutique is that? PM Sounds like Qatalyst.

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Reply 12

fuuji

Original post by Princepieman

It is so awesome to have actual bankers on here for once!

What boutique is that? PM Sounds like Qatalyst.

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I think they're called code or code advisors, one of the 2. They don't even have a website, I think they mainly do capital raises for private companies.

Reply 13

username738914

Original post by fuuji

I think they're called code or code advisors, one of the 2. They don't even have a website, I think they mainly do capital raises for private companies.

Mind if I ask some Q's?

What was it like working in IBD? (In terms of hours, work, colleagues and pay)
How does it compare to the HF that you are at now?
Would someone from Nottingham Uni with great ECs and grades manage to break in?
Any tips for people heading into uni?

Reply 14

Econight

Original post by fuuji

Are you slightly confused what investment banking is? I only got 2 screens and the hours are a bit more then 8.

Original post by fuuji

Yeah I'm sure he meant trading, was just being a dick.

I can never decide if anyone on this forum is talking about IBD or Trading because they never add context, so I decided to be a dick too.

Actually had 3 screens and **** loads more hours at my last gig.

Reply 15

fuuji

Original post by Princepieman

For the life style stuff i'd just read mergers and inquisitions, theres a lot of articles that go into it in much more detail then I would.
Yes someone from Nottingham with great ECs and grades could break into investment banking of course. It won't be as easy as from a target, but i'm sure it doable. Apparently you have a really good careers service and finance society so use though.
When you start uni begin applying for every spring week you can make sure you get something, I don't know if firms like PWC do first year internships, but if they do apply so you can at the least have something on your CV for next year. Learn what the division you want to work in does. If you need specific help about what a division does I can help you as long as its not S&T. Learn basic accounting so you can do case studies in interviews. Join your finance society get involved with stuff like that. Your applying from a non target, you need to make yourself seem really interested in finance. Banks seem to like sports too, I got asked about them a bit especially the HF because they like people who are performance driven so maybe do some sports. Oh when your applying for a bank and they ask you something like "Why HSBC?" what I always used to do was go on bloomberg find the league tables for the division you want so something like this http://www.bloomberg.com/professional/content/uploads/sites/2/2013/01/global-equity-equity-linked-rights-1st-half-2013.pdf
and then find some deals they've done and talk about their dominance in that market so for HSBC M&A whilst they aren't amazingly ranked in terms of revenue they are fairly well distributed across the world like no matter what region they always are ranked somewhere. I think it looks better then repeating their values and saying how you love that they care about personal growth of employees or something.