IB is not as good as it once was. Also when I was employed I was the only analyst on the desk. The team was 2 VP's and 1 MD. Was a special team but that meant virtually FA training as nobody would explain anything. Managed to stick it out 2 years and get the hell out - also I was making more money in the summer holiday with some online marketing business I set up that what I worked out I was making in IB'ing. When you work out how much per hour it is very poor. Most people I knew only stayed between 1-3 years max and then either went to a PE or VC or started some business.
Success is NOT necessarily about money, status and materialism - as our society and culture has mistaught us. You do not find happiness nor fulfillment in listening to your ego. I think investment banking induces to sacrifice physical & mental health, spiritual life, parenting, social life, quality of life, emotional life (happiness), and the freedom of just being human - living in the present moment and not on the demands of tomorrow, nor the pain of the past. You might want to consider all these factors, and truly reflect on how important they are to you - not society nor ego.
I rather work 100 hours a week and make $300k a year and have a freedom that money provide then to work 40 hours a week worry about bills. Money requires sacrifice, billgates used to literally sleep on his office his wife saw him ONCE A MONTH and look where he is now? Money isnt success, the freedom is the success and you cant have freedom without money. I want my kids to have the life I could never have, I want my family to NEVER have to worry about money which is why we do it. What happens to a low paying wager who isnt sacrificing himself when recession hits? He becomes jobless and his sacrifice free life only effects his kids snd family.
@@nopeakingyoungblood4696 the majority of people going into investment banking last maximum 2 years before going leaving due to the awful work hours and stress affecting both their mental and physical health. you can't balance it, you either stick through it and and go through hell to climb the ladder or you leave/get kicked out. its a lonely world.
There are 168 hours in 1 week. People who don't sleep do not produce work of any version of quality and cannot focus - for example not sleeping for 18 hours puts your brain in a similar state to drinking 3 pints. How can any company expect someone to work a lot more than 100 hours per week (your words) in busy periods and still produce work that the client will be happy with? It's just impossible. Also, if we imagine someone working 126 hours in a week - 18 per day, if they teleport to their bed and back to work the instant they wake they average 6 hours sleep and can't eat. Reality will be 4 hours sleep if you live close. What amazes me is if you aren't exaggerating is why anyone would do that to themselves for money.
Most often when they say 100hrs they mean 100hrs at work. So not really 100hrs full on working. Furthermore research or discussing with clients and other not cognitive burdensome tasks count as work too. Most of the time you work 70 hrs and only for one or two weeks a year you are really working 100hrs. And sometimes you have chilled weeks where you only work 30 or 40hrs. These dont come around as often but sometimes they do.
@@ozzyrules119 Heart arrhythmias, caffeine literally stimulates stress hormones like adrenaline and can increase cortisol especially if you are just sitting. Blocking adenosine consistently for a long time can't be good. Caffeine isn't that bad in moderation but living off it heavily for too long is not healthy and can cause heart problems. IB isn't healthy either though, LOL -- so all in I guess.
I work in corp banking and the hours are comparable to ibanking in my bank. I''ve basically become addicted to nicotine pouches that you keep in your mouth (I work with them in), keeps me awake!
Bro your videos are brilliant, you should do a vid about how to get a junior investment analyst role with no experience while doing an internship at an investment bank.
Lol Ofcourse ...they’re not starving you.... we shower at work sometimes too and can go to the gym 4-5 times a week (albeit poor training because of lack of sleep). But beyond that...not much. You work weekends and at night you release your stress through a hard night of indulgence. Not for everyone.
Please tell me how someone can get into investment banking front office job probably sales wherein the investment banker meet clients on a daily basis and bring in businesses.
I just found your channel and I would like to ask you this.. how can all these junior analysts cope with all that sleep deprivation.. I mean, not only mental strength and focus but even being able to stay healthy in general!
In terms of PTO for vacation, how is that? Is it frowned upon especially as a junior banker? What about holidays such as Christmas, Thanksgiving, etc. Do you have to go into the office?
This honestly sounds like an environment of sheer abuse and inhumanity excused by "money". Cause when you pay someone you no longer have to treat them like a person. Am I right?
It's a lot. I have worked with JPMorgan in both London and NYC and I can say that there are vast differences in the way people carry themselves, conduct meetings and do business; British culture is more formal so to say. The one common thing although, is long working hours.
@@smpbsn Thanks. I hope you can make a video talking about this topic. What's the difference between the culture, work, etc between the IB circles in NYC, London, Frankfurt. A lot of people are very interested!
Can you make a detailed video about Asset management like what can I expect as a junior and what kind of exit opportunities I will be looking at in future. Thank you for making videos, they really help a lot! 😊
It depends where you live.... if you live in Germany or a country which has a VERY classical structured recruitment style then you need to study Finance / Accounting / Economics... But everywhere else it doesn't matter what you study as long as you have experience.. some of the best analyst i have worked with were from a non finance background in London and Paris. I will be making a video on how to break into Investment Banking step-by-step... currently editing it right now.
@@naasirramjaun6414 He asked how to get into IB, and your answer boils down to "already have experience in IB outside Germany." Clearly there is a route in with no experience, or else no one would ever enter the field, so why don't you answer him if you actually know?
Wiadomo Label I’m from Sweden if you have any information about how it is here I would it would appreciated if you could share it. However, of course my dream is to work abroad. Also I’m currently studying B.Sc. international business and economics but I haven’t chose my specialization yet (leaning towards accounting/finance), and later study a relevant MSc in a well accredited university.
@@wiadomolabel7716 I can tell you how to get into IB, go to good university and study a real subject, get a spring week in your first or 2nd year, convert it to an internship in your penultimate year, perform well and accept the job offer.
Did a bit of research online but never got a clear answer. Do you have to have a degree to work in this sector? Or is it possible not to or at least work your way up into a position in investment banking? Does having experience within the finance sector help?
Ideally a degree from an Ivy League university (although schools like Brown or Dartmouth still aren't good enough due to their liberal arts emphasis). I double majored in Finance and Economics from a top 20 non-Ivy undergrad and it was an incredibly difficult uphill battle just to land introductory phone calls, let alone interviews. Every client, senior, and comparable peer in high finance will ask you to introduce your backgrounds. I'm not completely sure what you're asking, but If your question implies that you only have a high school/community college diploma - not to sound harsh but the chances are literally 0. Worst case scenario you might get "blacklisted" as well systematically. As previously mentioned, a Bachelor's is sufficient but many kids will grind out a MS in Finance/Accounting in order to land their first (or a better) entry level IB position. The last resort is generally the MBA to IB Associate route (for ages 25-28ish). Having experience in finance absolutely helps - it is actually a basic requirement (as opposed to bonus). Although please note that these experiences imply internships in private wealth management, asset management, private equity, or corporate finance *with return offers* that you turned down. Things like working as a teller, cashier, or something in that nature are frankly a waste of space on your resume.
Bold of you to assume I have a social life.
IB is not as good as it once was. Also when I was employed I was the only analyst on the desk. The team was 2 VP's and 1 MD. Was a special team but that meant virtually FA training as nobody would explain anything. Managed to stick it out 2 years and get the hell out - also I was making more money in the summer holiday with some online marketing business I set up that what I worked out I was making in IB'ing. When you work out how much per hour it is very poor. Most people I knew only stayed between 1-3 years max and then either went to a PE or VC or started some business.
Hey thanks for the insight can I ask you a but nore?
Please tell us about Equity research analyst lifestyle.
Will do next week!
Success is NOT necessarily about money, status and materialism - as our society and culture has mistaught us. You do not find happiness nor fulfillment in listening to your ego. I think investment banking induces to sacrifice physical & mental health, spiritual life, parenting, social life, quality of life, emotional life (happiness), and the freedom of just being human - living in the present moment and not on the demands of tomorrow, nor the pain of the past. You might want to consider all these factors, and truly reflect on how important they are to you - not society nor ego.
I rather work 100 hours a week and make $300k a year and have a freedom that money provide then to work 40 hours a week worry about bills. Money requires sacrifice, billgates used to literally sleep on his office his wife saw him ONCE A MONTH and look where he is now? Money isnt success, the freedom is the success and you cant have freedom without money. I want my kids to have the life I could never have, I want my family to NEVER have to worry about money which is why we do it. What happens to a low paying wager who isnt sacrificing himself when recession hits? He becomes jobless and his sacrifice free life only effects his kids snd family.
Your IB peers are what put the real pressure on you. If you drag things, they are affected.
Your videos made me conclude that IB is an absolute no-go for me.
I know I'm late to the vid, but Info youre presenting is great man, really helped me forming my careerplans
Im a year late but what’s the age you would like to see an exit strategy into the hedge fund / private equity ?
Pretty much Audit, except that we have very low salary compared to Investment Bankers.
Can you talk more about promotions, like how long it takes for a junior associate to get promoted?
Health is wealth,how could one even imagine of sacrificing health
bc some people can balance their life
@@nopeakingyoungblood4696 or risking their life.
@@nopeakingyoungblood4696 the majority of people going into investment banking last maximum 2 years before going leaving due to the awful work hours and stress affecting both their mental and physical health. you can't balance it, you either stick through it and and go through hell to climb the ladder or you leave/get kicked out. its a lonely world.
There are 168 hours in 1 week. People who don't sleep do not produce work of any version of quality and cannot focus - for example not sleeping for 18 hours puts your brain in a similar state to drinking 3 pints. How can any company expect someone to work a lot more than 100 hours per week (your words) in busy periods and still produce work that the client will be happy with? It's just impossible. Also, if we imagine someone working 126 hours in a week - 18 per day, if they teleport to their bed and back to work the instant they wake they average 6 hours sleep and can't eat. Reality will be 4 hours sleep if you live close. What amazes me is if you aren't exaggerating is why anyone would do that to themselves for money.
Most often when they say 100hrs they mean 100hrs at work. So not really 100hrs full on working. Furthermore research or discussing with clients and other not cognitive burdensome tasks count as work too. Most of the time you work 70 hrs and only for one or two weeks a year you are really working 100hrs. And sometimes you have chilled weeks where you only work 30 or 40hrs. These dont come around as often but sometimes they do.
How do you guys maintain energy throughout the day?
caffeine caffeine caffeine caffeine
@@ozzyrules119 Heart arrhythmias, caffeine literally stimulates stress hormones like adrenaline and can increase cortisol especially if you are just sitting. Blocking adenosine consistently for a long time can't be good. Caffeine isn't that bad in moderation but living off it heavily for too long is not healthy and can cause heart problems. IB isn't healthy either though, LOL -- so all in I guess.
I work in corp banking and the hours are comparable to ibanking in my bank. I''ve basically become addicted to nicotine pouches that you keep in your mouth (I work with them in), keeps me awake!
coccaine
Meanwhile me as a dental student also studying business analytics trying to get a job far more exhausting than easy dentistry 9-5 job
Bro your videos are brilliant, you should do a vid about how to get a junior investment analyst role with no experience while doing an internship at an investment bank.
This information is a gold mine! #newsubscriber
Out of curiosity are Juniors allowed to order food to the office? Or is eating meals banned at work?
Lol Ofcourse ...they’re not starving you.... we shower at work sometimes too and can go to the gym 4-5 times a week (albeit poor training because of lack of sleep). But beyond that...not much. You work weekends and at night you release your stress through a hard night of indulgence. Not for everyone.
Please tell me how someone can get into investment banking front office job probably sales wherein the investment banker meet clients on a daily basis and bring in businesses.
Buy side m&a please
Great content. Have you considered some videos featuring S&T?
I just found your channel and I would like to ask you this.. how can all these junior analysts cope with all that sleep deprivation.. I mean, not only mental strength and focus but even being able to stay healthy in general!
I’m starting at an EB in 2 months😬
John Davis congrats!
How are you holding up?
evercore? hows it going?
RIP
He's not replying.. Lol he trippin
I have found my mentor
could you talk about what all the different divisions do e.g. capital markets, sales and trading
In terms of PTO for vacation, how is that? Is it frowned upon especially as a junior banker? What about holidays such as Christmas, Thanksgiving, etc. Do you have to go into the office?
Where do investment bankers work and how long does it take to become an investment banker??
This honestly sounds like an environment of sheer abuse and inhumanity excused by "money". Cause when you pay someone you no longer have to treat them like a person. Am I right?
What do you need to study to be a investment banker?
I'm wondering what the difference of culture between Wall Street and the City of London/Canary Wharf
It's a lot. I have worked with JPMorgan in both London and NYC and I can say that there are vast differences in the way people carry themselves, conduct meetings and do business; British culture is more formal so to say. The one common thing although, is long working hours.
@@smpbsn Thanks. I hope you can make a video talking about this topic. What's the difference between the culture, work, etc between the IB circles in NYC, London, Frankfurt. A lot of people are very interested!
Do you choose the team you are going to be with?
paris france no
Can you make a detailed video about Asset management like what can I expect as a junior and what kind of exit opportunities I will be looking at in future.
Thank you for making videos, they really help a lot! 😊
Sure, might take a couple of days....
@@naasirramjaun6414 Take your time and Thank you!
Where can I access guide for interviews and cover letters?
Who would willingly sign his or her life away like this? It's not like you can take that money with you when you go.
This lifestyle is foreign to the average worker.
Prop trading please
pause at 1:56
sir i need to talk to u its too imp i wanna become an investment banker sooo..... plz i love ur talkz .......i watch all ur vedioz
Blackberry? Cool lol
6:40 but just dont get caught. lol
This guy looks like he slams dimes
I'd like to know what is the best bachelor and master major to study to get into investment banking.
It depends where you live.... if you live in Germany or a country which has a VERY classical structured recruitment style then you need to study Finance / Accounting / Economics... But everywhere else it doesn't matter what you study as long as you have experience.. some of the best analyst i have worked with were from a non finance background in London and Paris. I will be making a video on how to break into Investment Banking step-by-step... currently editing it right now.
@@naasirramjaun6414 He asked how to get into IB, and your answer boils down to "already have experience in IB outside Germany." Clearly there is a route in with no experience, or else no one would ever enter the field, so why don't you answer him if you actually know?
Neither the answer nor the question was exhaustive. Had he provided more details (location), he would have been given more precise answer.
Wiadomo Label I’m from Sweden if you have any information about how it is here I would it would appreciated if you could share it. However, of course my dream is to work abroad.
Also I’m currently studying B.Sc. international business and economics but I haven’t chose my specialization yet (leaning towards accounting/finance), and later study a relevant MSc in a well accredited university.
@@wiadomolabel7716 I can tell you how to get into IB, go to good university and study a real subject, get a spring week in your first or 2nd year, convert it to an internship in your penultimate year, perform well and accept the job offer.
When MDS are travelling, is this travelling by train/car or long distance journeys on planes?
More likely they live nearby the workplace since they get higher pay to afford the rent.
Would having prospective business for the IB aid in securing a role in IB?
Additionally, is it better to go in later in life with a BA, or an MBA? I plan to work in Infrastructure
My dream job
7 Star Resorts = Burj Al Arab
Did a bit of research online but never got a clear answer. Do you have to have a degree to work in this sector? Or is it possible not to or at least work your way up into a position in investment banking? Does having experience within the finance sector help?
Ideally a degree from an Ivy League university (although schools like Brown or Dartmouth still aren't good enough due to their liberal arts emphasis). I double majored in Finance and Economics from a top 20 non-Ivy undergrad and it was an incredibly difficult uphill battle just to land introductory phone calls, let alone interviews. Every client, senior, and comparable peer in high finance will ask you to introduce your backgrounds.
I'm not completely sure what you're asking, but If your question implies that you only have a high school/community college diploma - not to sound harsh but the chances are literally 0. Worst case scenario you might get "blacklisted" as well systematically. As previously mentioned, a Bachelor's is sufficient but many kids will grind out a MS in Finance/Accounting in order to land their first (or a better) entry level IB position. The last resort is generally the MBA to IB Associate route (for ages 25-28ish).
Having experience in finance absolutely helps - it is actually a basic requirement (as opposed to bonus). Although please note that these experiences imply internships in private wealth management, asset management, private equity, or corporate finance *with return offers* that you turned down. Things like working as a teller, cashier, or something in that nature are frankly a waste of space on your resume.
lol no don't sacrifice your health
whats the point in working if you're not well enough to reap the benefits
What is the pay like?
Investment banking roles and responsibilities make on video
Sir I have 12 years of experience in banking. Currently working as Branch Manager. Can I shift to Investment Banking?
Only if you have a cfa
No. Very difficult and completely different to branch manager.
😂😂😂😂😂😂😂😂