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Future bankers- what division and why?

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Original post by lordoftheties
By money I meant the money I earn, and by competition I meant competing with other peeps in the convertible offerings department to be the best damn jordan belfort in all the land.


Lol, ok bro. If your idea of ECM is jordan belfort you've got a lot of waking up to do..
Original post by Princepieman
Lol, ok bro. If your idea of ECM is jordan belfort you've got a lot of waking up to do..


Lmao it was a joke?
Original post by lordoftheties
Lmao it was a joke?


Didn't register, my bad.. Could have made it more obvious tho, like a specifc movie reference of some kind aha
Where would everyone ideally move to from their chosen department?
Original post by Trapz99
Well, I just find it so rewarding to explain concepts and processes and see someone progress and improve. I'm lucky to have had some amazing, enthusiastic, inspiring teachers over the years who have gone above and beyond to ensure that students succeed and that's really inspired me. I've done a lot of teaching-related stuff at school (mentoring lower school students, teaching primary school kids to read, tutoring, maths help clubs) and it's been really rewarding to see that I can be the difference between someone failing and passing a test and, more importantly, gaining knowledge of the subject (specifically, I want to teach maths).

Also, teaching and finance have a lot more in common than you might think- both involve working at high pressures with high expectations and high responsibility, and both require you to become an expert in your specific product and explain concepts to clients/students. Plus, once I've saved up enough from my finance job I can be a teacher without moaning about the awful salaries.


Oh I'm completely aware of the links between the two and also completely appreciate the opportunity to help improve other people in their studies - I mostly teach maths but also Econ, French and a few other subjects and it's definitely a great feeling to see see someone go from fail to pass and have an impact in someone's life.
However tutoring one on one is radically different to teaching a whole class, where there'll be always be some bad apples pupil-wise, actual schedule and less flexibility in your teaching approach, etc. which I fear can get quite frustrating especially over the years. But to be fair, doing so after 10-20 years in banking could prove be to a nice change :smile:
University and degree: UCL Economics
Division I want to apply/have applied to: IBD - Not sure yet
Reason(s): Money of course, I prefer to avoid the higher risk areas e.g. markets/trading and i am more interested in the longer term team project sort of things.
How long I want to stay in banking: Until it makes sense to leave. Or until I have enough savings and assets to retire comfortably.
(edited 7 years ago)
Original post by Trapz99
Will do! MORSE does seem like a really varied, interesting course although I heard that it's really competitive and hard to get into. But the opportunities with the degree are truly amazing!


Ikr, its such a flexible degree with so many interesting things, more ppl should consider it, not just those who want to get into actuarial route.

I have been warned that its sometimes seen as the 'jack of all trades, master of none' as one trader told an intern, which is an interesting take on the degree.
Reply 27
Original post by Metrododo
Oh I'm completely aware of the links between the two and also completely appreciate the opportunity to help improve other people in their studies - I mostly teach maths but also Econ, French and a few other subjects and it's definitely a great feeling to see see someone go from fail to pass and have an impact in someone's life.
However tutoring one on one is radically different to teaching a whole class, where there'll be always be some bad apples pupil-wise, actual schedule and less flexibility in your teaching approach, etc. which I fear can get quite frustrating especially over the years. But to be fair, doing so after 10-20 years in banking could prove be to a nice change :smile:


Yeah it is quite different but if I do manage to get into a teaching job at my school they allow teachers to focus on sixth formers and Years 10&11 if you don't want to teach the lower school as much lol. But yeah, I agree that it will be a pretty hard job to teach some bad apples but that's probably the most rewarding part.

I am not completely set on going into teaching though, I might try and get into a hedge fund or become an MD if I can.
Reply 28
University and degree: Maths - Oxford
Division I want to apply/have applied to: Trading (specifically macro focused options/exotics desks)
Reason(s): Wanted to do something relatively quantitative, prefer the fast paced nature of S&T over research/IBD and essentially wanted a front row seat to the markets, personality is a much better fit for trading, work seems a lot more interesting than the stuff done in IBD (and I find it a lot more interesting than research), prefer the high variance in total comp in trading with it being more concretely linked to your performance, zero interest in working 6-7 days a week with the kind of hours in IBD
How long I want to stay in banking: No idea
Original post by Trapz99
What do you guys want to do after IB?


journalism / PE / treasury - wherever the wind takes me
Original post by lordoftheties
Where would everyone ideally move to from their chosen department?


dcm.. originally that was my division but exposure & senior management convincing led me to accept an offer elsewhere
Original post by gr8wizard10
dcm.. originally that was my division but exposure & senior management convincing led me to accept an offer elsewhere


Pretty interesting change. Can I ask what you were reading at uni?
Original post by lordoftheties
Pretty interesting change. Can I ask what you were reading at uni?


still am at uni, ~finance
Note: Not at Uni yet. Skip past if looking at more serious answers.

University and degree: Probably economics at a target. Considered maths and other subjects but tbh I'm not that interested in what I'd call a 'rigourously' numerate role and therefore can get away with something more the middle of the park that better suits my interests (game theory, behavioural economics, international relations).

Division I want to apply/have applied to: It'll be M&A. I'm interested in M&A. Maybe TMT or other coverage groups at banks who deal with M&A differently like GS.

Reason(s): Deals. The market itself does't really pique my curiosity. What does is how we might structure and/or negotiate between companies, evaluate a company's assets, whether it's worth acquiring, how to do so most effectively, etc. Longer game but much more to my liking than, say, trading which is an adrenaline rush, I'm sure, but I'd get lost after a while with a want for more forward thinking. Analytical, yes, but I need it in a more strategic sense.

How long I want to stay in banking: Buyside M&A seems to be where you can exercise a little more creativity so maybe there ASAP but I wouldn't mind staying in banking for the long run (he says. lol) if the work is as exciting as I hope. Looking forward to client related stuff later on in M&A too so maybe I'll stay on depending on whether I can deal with being a full time sycophant.

If I don't like it in banking or decide it's not for me when doing an internship law, consulting and military are a few viable options depending on my feeling at the time.
(edited 7 years ago)
University and degree: Non-Target studying economics
Division I want to apply/have applied to: IBD (M&A/Real Estate/TMT) or Investment management
Reason(s): Banter init? Na to be serious they're the areas which interested me most during my spring weeks
How long I want to stay in banking: Too early on to decide, still struggling to decide on division there's no way will I know how long I plan to stay... but to make a quick thought.. IBD - 2 years then move to PE, Investment Management - develop a career and rise up the ranks
University: UCL
Division: Tech
Reasons: Diverse area, rapidly growing, experience and of course the salary and bonuses.
Duration: 3-5 year
Original post by Trapz99
Thought it would be interesting to see what division (IBD, Sales, Trading, Research, Investment Management, etc...) everyone here wants to work in and their reasons and whether there's a connection between degree subject and division.

University and degree:
Division I want to apply/have applied to:
Reason(s):
How long I want to stay in banking:


I am assuming the majority here want to go for front office roles but feel free to post even if you want to work in a different function!

(If you want to be really specific maybe do the "subdivision" as well- e.g. in IBD there's M&A, ECM, DCM, coverage groups and in S&T there's equities and FICC)


The more time I spend in IBD, the more I realise I should have just gone for the field where I could make the most money.
University and degree: Warwick (Accounting and Finance) or Durham (Finance)
Division I want to apply/have applied to: Asset/Investment Management or Equity Research
Reason(s):
I enjoy reading up / staying on top of global economic performance and like the idea of predicting and generating forecasts on what a potential product could do in years to come based off todays performance. Hours aren't as bad as IBD, you also get to 'cross' the chinese wall (in a bank) and i believe it to be genuinely something i would enjoy. I prefer making decisions for the long term so i feel markets is not quite up my street where pnl is first and foremost. also job would be varied ie same skills different context
How long I want to stay in banking: Well i am not really focused on working at a bank - i would prefer an AM firm like scroders or Lazard. so i would hope to remain in the role for 3-4 years and then reassess my priorities, whether or not i enjoy it etc whether or not there are any other exit opps etc though I would take any offer from any decent institution that offered me AM/IM/ER espically at the SW level lol
Original post by gsbs2
IBD, until I retire from GS as a partner aged 45


Goals

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University and degree: Notts - chem eng
Division I want to apply/have applied to: Research/AM
Reason(s): was keen on S&T initially but Research caught my eye and seems so much more interesting
How long I want to stay in banking: stupid question for me at the moment, seeing as I haven't started uni yet and still considering a hundred other career paths soo who knows?

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