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

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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.
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?
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.
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!
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.
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.
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.
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.
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.
Reply 1609
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ttt22
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.
That's horrible.. no life much?
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?
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.
IBDers get a **** load of downtime, their job just requires them to be on standby a lot.
Reply 1614
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Mal G
What would be my chances to get into Sales & Trading with a 2:1 in Physics from Imperial College, without any internship experience. However, I have been trading on my own with a live account for 2 years. Would, a Middle or back office role be more suitable for me with no internship experience?
Mal G
What would be my chances to get into Sales & Trading with a 2:1 in Physics from Imperial College, without any internship experience. However, I have been trading on my own with a live account for 2 years. Would, a Middle or back office role be more suitable for me with no internship experience?


Not the best chance. But, apply because you have nothing to lose. You could always do masters and apply to internships (and inform them that you're doing an extra year) in your third year (I am assuming you're going into your third year). Don't settle for back/middle office if you really want to go to S&T.
Reply 1616
Avatar for WokSz
WokSz
17
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?


No. Like the others said, individuals in IBD have a lot of downtime. If you read testimonials from people in the industry, you'll see that a lot of them spend their mornings doing nothing related to work. However, clients have some very bizarre requests and can come in anytime of the day so that's why IBD has such long hours.
Reply 1617
Avatar for Mal G
Mal G
Altering my orgional question, what is the likelihood of securing a job in a back/middle office role with 2.1 from Imperial but no internship experience? Providing the rest of the application is good i.e. numerical/verbal tests, skills/competencies etc.
Reply 1618
Avatar for iw7829
iw7829
Hi there

I am in my third year studying a masters in Maths and Physics from the University of Bristol and am on course to get a first. I have been working in a variety of jobs since about the age of 13 but this summer I have managed to get relevant work experience in Group finance at RBS.

I want to try to get into trading/ sales/ prime services. It is relatively obvious that I ond get into a top tier IB but I would think that I should get into a tier 2 Ib.

However my A levels are ABBB in the four sciences. (was three marks of straight A's). Is this going to haught my appliactions?
1. MSc Neuroscience
2. BSc Neuroscience (2:2)

Both from Top 10 Redbrick unis in London

3. A Levels: Biology (B) Chemistry (D) IT (C)
4. GCSE 10 A-C grades. Maths (B) Eng (A)

Currently in 3rd Year PhD Neuroscience..considering dropping out and taking the MPhil degree title. So I should have BSc, MSc, Mphil

Considering IB career...what do you guys think?...

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