Turn on thread page Beta
    • Thread Starter
    Offline

    21
    ReputationRep:
    industry group analyst in ibd - brutal truths here

    *note: will not reveal info i deem to be unnecessary

    mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
    • Very Important Poster
    Online

    19
    Very Important Poster
    (Original post by gr8wizard10)
    industry group analyst in ibd - brutal truths here

    *note: will not reveal info i deem to be unnecessary

    mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
    What do you like?
    What do you dislike?
    What has surprised you?
    How long do you think you will stay at current employer?
    How long in IB?
    Have you already got an exit strategy?
    Offline

    12
    ReputationRep:
    I remember you saying that you would want to quit finance, still thinking about it? Whats next? Staying? Leaving? PE? HF? Corp dev?

    -Favorite type of transaction? and why?

    -Number of deals closed?

    -Time spend on pitch ideas for your MD vs time spend on live deals?

    These are few to start, I'll probably have more in the future.
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by 999tigger)
    What do you like?
    What do you dislike?
    What has surprised you?
    How long do you think you will stay at current employer?
    How long in IB?
    Have you already got an exit strategy?
    What do you like? - that i've learnt a lot (specifically the soft skills & what come to terms with what i value in life)
    What do you dislike? - not having control over my time / long hours
    What has surprised you? - not much really, knew what to expect.. i'm surprised that i didn't think i'd burn out quicker than i think i am
    How long do you think you will stay at current employer? - until i land another role - estimate within the next 6-12 months or less should something come up
    How long in IB? - next gig wouldn't be in IB so think that answers that
    Have you already got an exit strategy? - have an idea on what next steps would look like

    (Original post by xtrembob)
    I remember you saying that you would want to quit finance, still thinking about it? Whats next? Staying? Leaving? PE? HF? Corp dev?

    -Favorite type of transaction? and why?

    -Number of deals closed?

    -Time spend on pitch ideas for your MD vs time spend on live deals?

    These are few to start, I'll probably have more in the future.
    - corp dev it looks like - very much dislike lifestyle in banking / not a career for me
    - have no fav type of transaction - ones with the least amount of pain.. jbr on an ipo [yet to have this luxury]
    - 2 [from inception] (ran through the cycle - 1 didn't close per say.. but process was complete)
    - 70% pitching lately (prefer given better lifestyle than before)
    • TSR Support Team
    Offline

    21
    ReputationRep:
    TSR Support Team
    (Original post by gr8wizard10)
    industry group analyst in ibd - brutal truths here

    *note: will not reveal info i deem to be unnecessary

    mini-backstory.. did investment banking pretty much my entire working life - including several internships across various divisions (across back office, trading and ibd)
    would you do it again and why?

    life takeaways from being put through the meat grinder for a year?

    would you recommend the career path to kids in sixth form?

    highlights of your first real year of working life? how does it compare to uni?

    favourite aspect of the job?



    Posted from TSR Mobile
    • TSR Community Team
    • Clearing and Applications Advisor
    Offline

    21
    ReputationRep:
    TSR Community Team
    Clearing and Applications Advisor
    gr8wizard10 Thanks for making this, it will be an interesting thread :holmes:

    Is there anything that you wish you'd known at A-level/Uni when chosing this career?
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by Princepieman)
    would you do it again and why?

    life takeaways from being put through the meat grinder for a year?

    would you recommend the career path to kids in sixth form?

    highlights of your first real year of working life? how does it compare to uni?

    favourite aspect of the job?

    would you do it again and why? - yes, opens up a plethora of doors going forward, built strong time management / execution / soft skills
    life takeaways from being put through the meat grinder for a year? - learnt to value time, people and a greater appreciation relationships
    would you recommend the career path to kids in sixth form? - depends on people's goals / values - on average probably not, but if future plans seem like they can benefit from a year or two in the business then perhaps
    highlights of your first real year of working life? how does it compare to uni? - prefer working to uni, #1 i get paid, and feel i learn alot more useful things in the work place than i ever did at uni
    favourite aspect of the job? - the collegiate nature of the analyst pool the late dinners at 9pm in the breakout area *****ing about the MDs and telling our horror stories


    (Original post by Puddles the Monkey)
    gr8wizard10 Thanks for making this, it will be an interesting thread :holmes:

    Is there anything that you wish you'd known at A-level/Uni when chosing this career?
    not so much wish i'd known, i was perhaps very naive in the sense of thinking i knew what life was about and what my values/priorities were

    i think what's important for this career, is knowing what doors it can open and a clearer route into the expectations / pathways that are taken to get there. i think banking is a career only for a few and mostly you'd want to find somewhere you can translate those skills to. I spent the past few months figuring that out, so if i had earlier insights would've been better
    Offline

    12
    ReputationRep:
    Was selling your soul to corporate shills worth it?

    How do you deal with the lack of sleep?

    What do you do with all that money so young? Do you pull lots of girls?

    What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by rhaegar442)
    Was selling your soul to corporate shills worth it?

    How do you deal with the lack of sleep?

    What do you do with all that money so young? Do you pull lots of girls?

    What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)?

    Was selling your soul to corporate shills worth it? - yes, should it help me progress to the type of work i'd be interested in
    How do you deal with the lack of sleep? - these days i don't get much lack of sleep.. when i did, no real cope.. just grinding through it without much say
    What do you do with all that money so young? Do you pull lots of girls? - family / rent, no girls
    What's your long term goals (e.g. next step, in 10 years time, when will you retire, marriage family etc)? - 10 years too far down the line, but immediate perhaps work on a relationship (potentially), get another job, probably retire late 60s, can't imagine a life doing no type of work..
    Offline

    14
    ReputationRep:
    average sleep?
    are u healthy?
    age range of analysts? is 23/24 really old??
    best part of job
    worst part
    weekends free??
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by seconda1)
    average sleep?
    are u healthy?
    age range of analysts? is 23/24 really old??
    best part of job
    worst part
    weekends free??
    average sleep? - 7-8 hours - i usually get up at 9:30
    are u healthy? - yes, go gym / play football 2-3x a week and do other sports
    age range of analysts? is 23/24 really old?? - 21-27
    best part of job? - dinners/speaking with other analysts
    worst part? - weekend work / all-nighters
    weekends free?? - last 2-3 weekends they were, but before that mostly not
    Offline

    5
    ReputationRep:
    whats your salary looking like? (ball park figure) :P
    what qualificaations did you get?
    is there a way into the finance industry through apprenticeships, and which would you recommend if so
    Offline

    14
    ReputationRep:
    (Original post by gr8wizard10)
    average sleep? - 7-8 hours - i usually get up at 9:30
    are u healthy? - yes, go gym / play football 2-3x a week and do other sports
    age range of analysts? is 23/24 really old?? - 21-27
    best part of job? - dinners/speaking with other analysts
    worst part? - weekend work / all-nighters
    weekends free?? - last 2-3 weekends they were, but before that mostly not
    what time do you roughly finish?
    good to hear u are healthy
    what do you do during the weekend?
    do you personally think age 23/24 is a late start?
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by muhammad__)
    whats your salary looking like? (ball park figure) :P
    what qualificaations did you get?
    is there a way into the finance industry through apprenticeships, and which would you recommend if so

    whats your salary looking like? (ball park figure) :P - street average | as a 2nd year approx: GBP55k base (+~30k bonus)
    what qualificaations did you get? - none, FCA approved.. not sure qualifications are relevant in IBD.. you need a degree to enter
    is there a way into the finance industry through apprenticeships, and which would you recommend if so? - not front office investment banking afaik. but i think jp morgan does some functions type apprentice thing, not clued up on it
    Offline

    21
    ReputationRep:
    What exactly do you do in your work? How mathematical would you describe the job? What sort of problems do you solve? How did you manage to get the job?How was the application process?
    • TSR Support Team
    Offline

    21
    ReputationRep:
    TSR Support Team
    (Original post by seconda1)
    do you personally think age 23/24 is a late start?
    dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.

    It's not that deep.

    Posted from TSR Mobile
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by Dalek1099)
    What exactly do you do in your work? How mathematical would you describe the job? What sort of problems do you solve? How did you manage to get the job?How was the application process?
    industry coverage banker - create materials to be used for meetings, or adhoc requests for clients. assists sr. management in the process of due-dilligence and helping co-ordinate a deal process. financial valuations of companies, keeping team informed and up to date on industry trends etc.. probably a better desc of the job online

    in terms of mathemtatical rigour, not so much.. i mean division is probably the most complex use of math we do (and if you're smart, you will use a calculator - shoutout to excel). but you have to be good with numbers, and understand the story they tell.. more interpretation and analysis than anything.

    problems include mainly final valuation, ad-hoc concerns in a deal process.. understanding how to finance an acquisition, how to resolve regulatory concerns, what are the correct target companies, whats the correct peer set needed to value x company.. etc.

    in terms of getting the job, a lot of research at an early stage, going to insight days - building a network/getting acquainted with current bankers, applying for spring weeks and internships, working hard and proving myself at each step

    for me, i applied at the spring week stage, which was a round of psychometric testing / phone and f2f interviews & case studies and assessment centres
    Offline

    14
    ReputationRep:
    (Original post by Princepieman)
    dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.

    It's not that deep.

    Posted from TSR Mobile
    thanks man
    • Thread Starter
    Offline

    21
    ReputationRep:
    (Original post by Princepieman)
    dude, chill. there are analysts who went straight in from sixth form that are 21/22, some who did gap years that are 22-24, some that went to school in europe where masters and an additional year of secondary are common place that are 24-27.

    It's not that deep.

    Posted from TSR Mobile
    (Original post by seconda1)
    thanks man
    yes, 23-25 is probably the average age range to expect for new analysts
    Offline

    21
    ReputationRep:
    (Original post by gr8wizard10)
    industry coverage banker - create materials to be used for meetings, or adhoc requests for clients. assists sr. management in the process of due-dilligence and helping co-ordinate a deal process. financial valuations of companies, keeping team informed and up to date on industry trends etc.. probably a better desc of the job online

    in terms of mathemtatical rigour, not so much.. i mean division is probably the most complex use of math we do (and if you're smart, you will use a calculator - shoutout to excel). but you have to be good with numbers, and understand the story they tell.. more interpretation and analysis than anything.

    problems include mainly final valuation, ad-hoc concerns in a deal process.. understanding how to finance an acquisition, how to resolve regulatory concerns, what are the correct target companies, whats the correct peer set needed to value x company.. etc.

    in terms of getting the job, a lot of research at an early stage, going to insight days - building a network/getting acquainted with current bankers, applying for spring weeks and internships, working hard and proving myself at each step

    for me, i applied at the spring week stage, which was a round of psychometric testing / phone and f2f interviews & case studies and assessment centres
    What degree did you do? Am I right in thinking that you applied during your last year of your degree? I'm just not sure how thats supposed to work or do they schedule the assessment centre and interviews at a suitable time or did you have to miss classes? Did you have to move away from home?

    At the moment I am interested in being an actuary but I probably should consider other careers in finance. I am doing a Natural Sciences degree at Durham University studying Mathematics and Physics and I am feeling as though careers in finance tend to suit people more interested in problem solving rather than the actual level of Mathematics involved(although in some cases this can be high at least while training) and I am also really interested in making a difference and solving problems that will really matter in the real world. With Physics and Mathematical Physics which describes what I am currently during in my third year they are very conceptual(based on key ideas) and problem solving based. Would you describe that as similar to the sort of skills you use in investment banking?

    By the time that I start applying next year, I will have completed two research internships at my University(I have already done one and will do another this summer). How do you think companies will view this? Would they prefer experience within a finance company? The research mainly involves using programming and numerical methods to solve Physics problems but I have to read up all the underlying theory. I believe that a lot of companies are using computers to help solve a lot of the problems so I hope these experiences will seem attractive to employers. I have heard a lot about companies using spreadsheets on Excel(I have made a spreadsheet of the ranking of several Pro Evolution Soccer teams based on the games I play is this worth mentioning? I have attached the file) but I have also heard that some companies use VBA. Are you familiar with VBA? How hard is it to use if you are? To add to this, I self studied A Level Additional Further Mathematics - Do you think this looks good?
    Attached Files
  1. File Type: ods Pro Evolution World Rankings October 2017.ods (21.2 KB, 14 views)
 
 
 
Poll
Which accompaniment is best?
Useful resources

Articles:

Guide to investment bankingGuide to consultancy

Featured recruiter profiles:

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

Quick link:

Unanswered investment banking and consultancy threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.