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The "Am I good enough for Investment Banking/Consultancy?" Thread watch

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    AAA in a levels in maths economics and physics
    1st Southampton in mechanical engineering?
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    (Original post by James10000)
    If some one worked in IB for 2 years and then what exit opportunities into less time consuming careers would be available to him ?

    would the fact that he did not have a CIMA be a disadvantage for him ?
    Q1. Do some research.

    Q2. I would go as far to say that doing the CIMA would actually be a disadvantage. It's a completely useless qualification for IBD. The only qualification that can really advance your career in banking is an MBA (or possibly an ACA).
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    (Original post by Zweihander)
    Q1. Do some research.

    Q2. I would go as far to say that doing the CIMA would actually be a disadvantage. It's a completely useless qualification for IBD. The only qualification that can really advance your career in banking is an MBA (or possibly an ACA).

    + CFA
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    (Original post by Zweihander)
    Q1. Do some research.

    Q2. I would go as far to say that doing the CIMA would actually be a disadvantage. It's a completely useless qualification for IBD. The only qualification that can really advance your career in banking is an MBA (or possibly an ACA).
    Are there less time intensive jobs available in IB ? or is the only alternative moving into finance/accounting
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    (Original post by James10000)
    Are there less time intensive jobs available in IB ? or is the only alternative moving into finance/accounting
    You just want a job with fewer hours, or do you want a job with more pay and fewer hours?

    In IBD the typical exit opps are Private Equity, Hedge Funds, Venture Capital firms or Corporate Development. You'll be paid more in the first three options, but you'll probably never work 40 hours a week (it's usually around 60/65 hours).

    Corp Dev, basically in-house M&A (usually for FTSE 100 companies), is slightly more 9-5, but you're paid significantly less than the other three (usually even less than in banking), the other three are also harder to break into.

    If you want to go into PE I would recommend staying away from the megafunds (KKR, Blackstone, Carlyle et al) as you'll be working pretty much banking hours.
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    How's a degree from these uni's looked at for IB FO:
    Bath, Durham, UCL, Nottingham and Oxford.

    Also is MO as intensive as FO and is the pay good?
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    (Original post by Ultimate1)
    How's a degree from these uni's looked at for IB FO:
    Bath, Durham, UCL, Nottingham and Oxford.

    Also is MO as intensive as FO and is the pay good?
    All strong unis, Oxford and UCL are the most targeted, but Durham, Nottingham and Bath all get grads into FO too. Just go where you like best.
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    (Original post by loggins)
    All strong unis, Oxford and UCL are the most targeted, but Durham, Nottingham and Bath all get grads into FO too. Just go where you like best.
    OK thanks, mate. What about MO, is the workload as much as FO and is the pay relatively the same? Also what about St Andrews? They have much of a presence in the FO scene?
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    (Original post by Ultimate1)
    OK thanks, mate. What about MO, is the workload as much as FO and is the pay relatively the same? Also what about St Andrews? They have much of a presence in the FO scene?
    St Andrews is on a par with Durham, Nottingham etc.

    Middle Office workload is less than Front Office, probably looking at 40-50 hours a week, vs 60+ in S&T and 80+ in IBD. As such, the pay is considerably worse in the long run, though grads in FO and MO will likely start with the same base salary.
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    (Original post by loggins)
    St Andrews is on a par with Durham, Nottingham etc.

    Middle Office workload is less than Front Office, probably looking at 40-50 hours a week, vs 60+ in S&T and 80+ in IBD. As such, the pay is considerably worse in the long run, though grads in FO and MO will likely start with the same base salary.
    OK thanks,mate. You've been very helpful. So basically try for FO in the long-run. Gotcha! Thanks!
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    (Original post by Ultimate1)
    OK thanks,mate. You've been very helpful. So basically try for FO in the long-run. Gotcha! Thanks!
    I'm not saying try for FO in the long run. I'm just laying the facts on the table, more hours, more stress = more money, your choice.
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    I read that some people work 100+ hours per week.
    How?

    Also, I read here that

    It is also possible to enter corporate finance after training as an accountant or lawyer. Specialist industry knowledge is highly valued, as is a range of talents, including quantitative skills and general financial knowledge.

    Yet, it does not explain how.

    Thanks for your help.
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    (Original post by tehforum)
    I read that some people work 100+ hours per week.
    How?

    Also, I read here that

    It is also possible to enter corporate finance after training as an accountant or lawyer. Specialist industry knowledge is highly valued, as is a range of talents, including quantitative skills and general financial knowledge.

    Yet, it does not explain how.

    Thanks for your help.
    To answer your first point, some people work well in excess of 100 hours, that's why they don't give these jobs to nobody. I've heard of people working of even upto 15-17 hours a day at time, Investment banking is some serious business.
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    That's crazy... I heard that 1500 out of 300000 graduates get into IB.. so obviously not anyone gets in.

    But with 15-17 hours can you really assure top work ethic? Again, I know your counter argument will be well again, not anyone gets in. Also, that would mean just work and sleep really.
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    (Original post by tehforum)
    That's crazy... I heard that 1500 out of 300000 graduates get into IB.. so obviously not anyone gets in.

    But with 15-17 hours can you really assure top work ethic? Again, I know your counter argument will be well again, not anyone gets in. Also, that would mean just work and sleep really.
    Yup. That's why most of them drink coffee/red bull more than 3 times a day. You also have to live with the all nighters that happen around every 2 weeks/month as an analyst. The general working hour from what I've gathered is 08:00 - 02:00.
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    (Original post by tehforum)
    That's crazy... I heard that 1500 out of 300000 graduates get into IB.. so obviously not anyone gets in.

    But with 15-17 hours can you really assure top work ethic? Again, I know your counter argument will be well again, not anyone gets in. Also, that would mean just work and sleep really.
    9-midnight seems to be fairly common with high probabiliy of working at least 1 day at the weekend .

    In answer to your previous question- accountancy to IB seems to be a fairly common transition after 3 years in 1 of the big 4. I dont know of anyone who has come in from law, there are lawers in compliance but thats not exactly FO and would probably be a pay cut from a magic circle law firm. Having said that I do know a guy who studied law at oxford and went straight into IB.
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    That's horrible.. no life much?
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    To people here with some experience of the industry: I'd be curious to know if the workload arises because there is really that much to do or whether it's just your superiors making you jump through hoops as a sort of rite of passage. I mean is every single hour in an IBD analyst's 80+ hour week really vital to the deals being worked on?
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    (Original post by BigFudamental)
    To people here with some experience of the industry: I'd be curious to know if the workload arises because there is really that much to do or whether it's just your superiors making you jump through hoops as a sort of rite of passage. I mean is every single hour in an IBD analyst's 80+ hour week really vital to the deals being worked on?
    Far from it. Most of my friends in IBD have F all to do during the day, then they get a truck load of work dumped on them in the evening/night which needs to be completed by the next day.
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    IBDers get a **** load of downtime, their job just requires them to be on standby a lot.
 
 
 
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