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Former / current investment bankers
Posted on 12/1/16 at 2:33 am
Posted on 12/1/16 at 2:33 am
I'm a little over 3 months in. For those that went through an analyst program at an investment bank, how was your experience? When did you start exploring exit ops? My plan is to stay for around two years then explore opportunities in PE or something oil and gas investment related with somewhat normal hours. Most analysts I've talked to think similarly. Ideally I'd like to move back to Louisiana later down the road but I could manage staying in Houston. I obviously knew what I was getting into, the work is very interesting and not to mention the experience is second-to-none, but there's just no way I can see myself working these brutal hours for more than two years. Even at the associate and VP level, the hours are crazy. I don't see how any IB analyst would even think about staying in investment banking for the long term. Clearly the money is a motivating factor, but worklife balance is just as important to me. I also can't imagine raising a family at the same time (luckily I'm single).
Any tips / advice from former bankers?
Any tips / advice from former bankers?
5
Posted on 12/1/16 at 4:16 am to Enfuego
quote:
Even at the associate and VP level, the hours are crazy. I don't see how any IB analyst would even think about staying in investment banking for the long term. Clearly the money is a motivating factor, but worklife balance is just as important to me. I also can't imagine raising a family at the same time
You lazy, millennial frick...
Just kidding. I have no constructive advice but wanted to give you kudos for respecting the need for balance at an early age while recognizing the need to put in time to get experience and be worth a high dollar before you scale back the hours.
Posted on 12/1/16 at 8:46 am to Enfuego
quote:What's your education/certification background, if you don't mind?
Former / current investment bankers
I'm a little over 3 months in. For those that went through an analyst program at an investment bank,
Posted on 12/1/16 at 8:51 am to Enfuego
quote:
I also can't imagine raising a family at the same time
You have several paths forward here:
1) Marry a hot woman who loves kids, looks forward to a lifetime of spending all her time around them and spending your money. When the kids leave the house you can trade up to a younger model and pay alimony.
2) Marry a career woman, never have kids, and swing periodically. Or have kids and have a nanny take care of them and teach them Spanish.
3) Stay single and just enjoy hookers and blow.
4) When you're 30, quit IB and do something more sedate. Marry a normal crazy woman and have kids. When the kids leave the house you can get divorced and pay alimony.
I believe that covers the bases.
Posted on 12/1/16 at 10:34 am to foshizzle
Enfuego,
I'm not in IB, but I am in a finance related job that is billed hourly. The hours are horrendous. First 58/week, which is manageable, now 70, which is horrendous. I have the EXACT same thoughts as you as far as exit options.
I also understand the need for balance, money is a great motivator, but is not an end-all-be-all. The switch to PE would be good, I dont know how much you would find in Louisiana. Would consider looking in other large metro areas. Chicago, Denver, West Coast, obviously NYC, and Milwaukee even has a huge IB HQ that I believe has a PE branch.
I've recently been exploring a switch to IB, actually. If you dont mind, would you shoot me an email? If you'd prefer not to, no offense taken.
I'm not in IB, but I am in a finance related job that is billed hourly. The hours are horrendous. First 58/week, which is manageable, now 70, which is horrendous. I have the EXACT same thoughts as you as far as exit options.
I also understand the need for balance, money is a great motivator, but is not an end-all-be-all. The switch to PE would be good, I dont know how much you would find in Louisiana. Would consider looking in other large metro areas. Chicago, Denver, West Coast, obviously NYC, and Milwaukee even has a huge IB HQ that I believe has a PE branch.
I've recently been exploring a switch to IB, actually. If you dont mind, would you shoot me an email? If you'd prefer not to, no offense taken.
Posted on 12/1/16 at 10:40 am to darnol91
My brother and several friends did IB analysts.
Brother - analyst for 2 years, the moved into the VC group for 2 years. When he hired on in VC they told him he would only be there for 1-1.5 years and he needed to go get a top MBA to really move up.
He got in a top 5 school and they let him stay another 6 months until school started.
He's now graduated and working for a startup with much better routine hours, but he does travel often now which is hard at home.
Brother - analyst for 2 years, the moved into the VC group for 2 years. When he hired on in VC they told him he would only be there for 1-1.5 years and he needed to go get a top MBA to really move up.
He got in a top 5 school and they let him stay another 6 months until school started.
He's now graduated and working for a startup with much better routine hours, but he does travel often now which is hard at home.
Posted on 12/1/16 at 11:21 am to GreatLakesTiger24
Tulane full time MBA if I had to guess.
Posted on 12/1/16 at 11:29 am to Louie T
I work for a small I bank and hate it, but realizing what can do for me. Private Equity IMO is worse than I banking and both of those jobs won't be as lucrative in a few years
Posted on 12/1/16 at 12:45 pm to GreatLakesTiger24
Graduated undergrad in Finance from Tulane in '15. Did advisory at Big 4 for a full year before switching over to banking.
Posted on 12/1/16 at 12:56 pm to Enfuego
quote:
not to mention the experience is second-to-none
editing powerpoints slides is valuable work
Posted on 12/1/16 at 1:14 pm to barry
Hey man, using excel with no mouse is priceless.
Posted on 12/1/16 at 1:19 pm to barry
I would like to have his job revising powerpoints.
B4 transactions to IB is a pretty rare/difficult move from what I've gathered. Nice going, Enfuego.
B4 transactions to IB is a pretty rare/difficult move from what I've gathered. Nice going, Enfuego.
Posted on 12/1/16 at 1:57 pm to Enfuego
Nice. I think I want to sneak in IB somehow. Lsu finance '17.
Posted on 12/1/16 at 4:41 pm to GreatLakesTiger24
@darnol - leave your email if you'd like the chat.
This post was edited on 12/1/16 at 6:42 pm
Posted on 12/1/16 at 4:52 pm to Enfuego
louiettd@gmail.com
Posted on 12/2/16 at 7:52 am to Enfuego
Forget work life balance for the next 5-10 years. You're competition is ruthless and you're going to have to bust your arse and work 24/7 to work your way up and not be a career analyst. It's a competitive job and you're either hungry enough or you're not. The hardest part is getting your foot in the door, which you've already done. Tough it out and cut your teeth like the rest of us. This will sound bad, but it's the truth. If you're already considering work life balance and exit strategies then it might not be the right industry for you. Again, the competition is intelligent, hungry, and ruthless.
Once you pay your dues, learn more, and decide this is really what you want to do, then evaluate your options in another year. Just focus on being a sponge and working your nuts off. Email me with specific questions if you like: whiskeydickedandranting@gmail.com
I worked in IB, institutional MBS/CDO/ABS/etc sales and trading, owned an online trading and analysis platform, and now run a VC firm. I've got a pretty wide background and would be happy to answer any questions about different career paths and stuff. You can stay in IB and work less hours, but it will be more sales oriented and less true "IB". Some of the traditional high paying sales/trading jobs of the past don't have as lucrative long term potential as they used to IMO (due to tech), but it's certainly an option.
Once you pay your dues, learn more, and decide this is really what you want to do, then evaluate your options in another year. Just focus on being a sponge and working your nuts off. Email me with specific questions if you like: whiskeydickedandranting@gmail.com
I worked in IB, institutional MBS/CDO/ABS/etc sales and trading, owned an online trading and analysis platform, and now run a VC firm. I've got a pretty wide background and would be happy to answer any questions about different career paths and stuff. You can stay in IB and work less hours, but it will be more sales oriented and less true "IB". Some of the traditional high paying sales/trading jobs of the past don't have as lucrative long term potential as they used to IMO (due to tech), but it's certainly an option.
Posted on 12/2/16 at 9:53 am to Louie T
quote:
I would like to have his job revising powerpoints.
I know, I just like messing with IB analyst. I mean I stare at excel spreadsheets all day lately and then after that read CFA material.
I should be poking fun at anyone. 
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