- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Anybody here work in investment banking? I've got some questions.
Posted on 8/6/14 at 1:06 pm
Posted on 8/6/14 at 1:06 pm
-How many years does it typically take to get from an Analyst to Associate to VP?
-Are the hours always bad irrespective of what kind of investment banking you are in - M&A, Hedge Fund, Private Equity, Mutual Fund, Private Wealth Management, Equity Research?
-When do the hours get better? VP and above? Is it possible to have a semblance of a work-life balance as an Associate?
-How different is it working in a small boutique firm in the West Coast vs a BB?
-What are some exit opportunities for investment bankers that get out as Associate and VP? Can they go directly into management in a Corp Finance role? Will having IB experience give you a leg-up if you want to work in M&A, for example, at a Fortune 500 company?
-Are the hours always bad irrespective of what kind of investment banking you are in - M&A, Hedge Fund, Private Equity, Mutual Fund, Private Wealth Management, Equity Research?
-When do the hours get better? VP and above? Is it possible to have a semblance of a work-life balance as an Associate?
-How different is it working in a small boutique firm in the West Coast vs a BB?
-What are some exit opportunities for investment bankers that get out as Associate and VP? Can they go directly into management in a Corp Finance role? Will having IB experience give you a leg-up if you want to work in M&A, for example, at a Fortune 500 company?
This post was edited on 8/6/14 at 1:15 pm
3
Posted on 8/6/14 at 1:13 pm to euphemus
Posted on 8/6/14 at 1:32 pm to reb13
Thanks for the link. I'll check it out.
Do you work in IB? Anything you'd like to share from your personal experience?
Do you work in IB? Anything you'd like to share from your personal experience?
Posted on 8/6/14 at 5:44 pm to euphemus
quote:
-How many years does it typically take to get from an Analyst to Associate to VP?
Depends on the bank. Analyst to associate will take 3-4 years minimum, then it gets even more idiosyncratic from associate to VP.
quote:
-Are the hours always bad irrespective of what kind of investment banking you are in - M&A, Hedge Fund, Private Equity, Mutual Fund, Private Wealth Management, Equity Research?
For the most part, yes.
quote:
-When do the hours get better? VP and above?
This depends as well but VP's will usually start getting to shite on analysts more and more. Really once you get to MD is when its possible to have a life but even then quality of life is lower compared to other fields.
quote:
Is it possible to have a semblance of a work-life balance as an Associate?
Hahahaha
quote:
-How different is it working in a small boutique firm in the West Coast vs a BB?
Very different. Large banks are fairly cookie cutter in terms of life as an analyst, but VERY different in terms of deals that actually get done. Deals on your resume is everything for i-banking, nobody wants to read about all the fricking models you made for deals you didn't make.
quote:
-What are some exit opportunities for investment bankers that get out as Associate and VP? Can they go directly into management in a Corp Finance role? Will having IB experience give you a leg-up if you want to work in M&A, for example, at a Fortune 500 company?
Private equity is the main target to go to, very good compensation (most better than i-banking at public banks) with a "better" work life. Corporate finance is a pretty cake job, nowhere near the hours but it can get boring from everyone I know that went from IB to CF.
I would caution you here, if you're worried about the work-life balance before you even get into i-banking you should probably decide if IB is something you really want to do. All but 2 of my roommates when I lived in NYC were bankers and every one of them left for PE, CF, and some just said frick finance altogether. I work trading/portfolio management and my average day is 12 hours, which is an early night for IB. I love it but it can really wear you down over time, and it's not nearly as shitty as IB. If you're aiming at IB for the money, find another profession. Trust me.
Posted on 8/6/14 at 9:26 pm to euphemus
quote:
Thanks for the link. I'll check it out. Do you work in IB? Anything you'd like to share from your personal experience?
Nope, I did get an offer from an ibank and went through that whole process and it just didn't feel right so I went big 4. But Benny always has great advice and actually works in the industry so listen to what he says and that link has really great articles but they can be hard to find but just literally google your questions and look for the links to that website.
Posted on 8/6/14 at 10:12 pm to reb13
quote:
I went big 4
Did you work in the consulting arm of the big 4? if so, what was that role like? I'm currently working in risk advisory/internal audit and was considering switching valuation or transaction advisory.
Posted on 8/6/14 at 10:36 pm to BennyAndTheInkJets
quote:
I work trading/portfolio management and my average day is 12 hours, which is an early night for IB. I love it but it can really wear you down over time, and it's not nearly as shitty as IB. If you're aiming at IB for the money, find another profession. Trust me.
Best quote right here.
The money will not come just because you aim for something you like. But liking it is a prerequisite.
Posted on 8/6/14 at 10:46 pm to foshizzle
My 2 cents:
-How many years does it typically take to get from an Analyst to Associate to VP?
3 from analyst to associate, maybe a few months less, maybe a few months more. Another 3 (maybe a few less or a few more) to VP. After that it's all about how much business you bring in.
-Are the hours always bad irrespective of what kind of investment banking you are in - M&A, Hedge Fund, Private Equity, Mutual Fund, Private Wealth Management, Equity Research?
Yes, and none of that is investment banking except M&A.
-When do the hours get better? VP and above? Is it possible to have a semblance of a work-life balance as an Associate?
Not possible as an associate. Hours move from office hours to traveling hours as you grow. Still brutal regardless.
-How different is it working in a small boutique firm in the West Coast vs a BB?
Very different, culture wise, although job tasks and hours are similar.
-What are some exit opportunities for investment bankers that get out as Associate and VP? Can they go directly into management in a Corp Finance role? Will having IB experience give you a leg-up if you want to work in M&A, for example, at a Fortune 500 company?
PE is the goal, others go into corporate development/strategy groups at big corporations, who knows where the rest go. IB experience gives you a leg up on many many opportunities, it's a great start. However, probably not for everyone.
-How many years does it typically take to get from an Analyst to Associate to VP?
3 from analyst to associate, maybe a few months less, maybe a few months more. Another 3 (maybe a few less or a few more) to VP. After that it's all about how much business you bring in.
-Are the hours always bad irrespective of what kind of investment banking you are in - M&A, Hedge Fund, Private Equity, Mutual Fund, Private Wealth Management, Equity Research?
Yes, and none of that is investment banking except M&A.
-When do the hours get better? VP and above? Is it possible to have a semblance of a work-life balance as an Associate?
Not possible as an associate. Hours move from office hours to traveling hours as you grow. Still brutal regardless.
-How different is it working in a small boutique firm in the West Coast vs a BB?
Very different, culture wise, although job tasks and hours are similar.
-What are some exit opportunities for investment bankers that get out as Associate and VP? Can they go directly into management in a Corp Finance role? Will having IB experience give you a leg-up if you want to work in M&A, for example, at a Fortune 500 company?
PE is the goal, others go into corporate development/strategy groups at big corporations, who knows where the rest go. IB experience gives you a leg up on many many opportunities, it's a great start. However, probably not for everyone.
This post was edited on 8/6/14 at 10:49 pm
Posted on 8/7/14 at 4:48 pm to BennyAndTheInkJets
quote:
Private equity is the main target to go to, very good compensation (most better than i-banking at public banks) with a "better" work life. Corporate finance is a pretty cake job, nowhere near the hours but it can get boring from everyone I know that went from IB to CF.
I would caution you here, if you're worried about the work-life balance before you even get into i-banking you should probably decide if IB is something you really want to do. All but 2 of my roommates when I lived in NYC were bankers and every one of them left for PE, CF, and some just said frick finance altogether. I work trading/portfolio management and my average day is 12 hours, which is an early night for IB. I love it but it can really wear you down over time, and it's not nearly as shitty as IB. If you're aiming at IB for the money, find another profession. Trust me.
I am an engineer with 8 years of work experience trying to change my industry and job. I've come to the conclusion that I want to do something in finance going forward. I am right now enrolled in a Top 5 MBA program and am hoping the degree will help me make this switch. My ultimate goal is to work in a top finance management role at a tech company or possibly PE focusing on tech on the west coast. I am just trying to see if a short 3-4 year stint in IB will make it easier to get to my ultimate goal, seeing as how I come from an engineering background.
Posted on 8/7/14 at 4:56 pm to foshizzle
quote:
quote:
I work trading/portfolio management and my average day is 12 hours, which is an early night for IB. I love it but it can really wear you down over time, and it's not nearly as shitty as IB. If you're aiming at IB for the money, find another profession. Trust me.
Best quote right here.
The money will not come just because you aim for something you like. But liking it is a prerequisite.
Like I said in my previous comment, it is not so much about the money, but more about whether a stint in IB will help me get to a top Corp Finance role at a tech company or a PE role at a boutique focusing on tech. I am already in my early 30s and will be 35 when I complete my MBA. Hence all those questions about long hours and work-life balance. My wife is already sacrificing a lot while I go to school for the next 3 years, but working 80-100 hours every week for 3 more years after I graduate might be asking a little too much. We'd basically have very little social life for 6 years straight.
Posted on 8/7/14 at 5:05 pm to euphemus
quote:
I am right now enrolled in a Top 5 MBA program.
Well, holy shite, congratulations.
quote:
I am an engineer with 8 years of work experience trying to change my industry and job.
This might be the key part. It seems as though your work experience might be your strongest asset, so it matters a lot what kind of engineer you were and what industry you were in.
It seems like it would be possible (but not easy) to skip the 3-4 years in the lower rungs of IB and still land a job in PE doing CF modeling stuff on deals, but it would also seem that you need to stick with whatever industry you were in and offer your expertise in business operations analysis for a few years first. Maybe you could start off in the M&A department of a giant corporation (e.g., Shell, if you were previously in O&G), or maybe you could start doing valuations with a consulting firm that advises on deals within your old industry.
Posted on 8/7/14 at 5:12 pm to euphemus
quote:
a top Corp Finance role at a tech company or a PE role at a boutique focusing on tech
Oh, well depending on what type of tech you are talking about, you might be interested in VC too. IDK. I really am not into tech stuff at all, so I will now just slide on out and excuse myself from the rest of this thread.
Posted on 8/7/14 at 5:24 pm to euphemus
quote:
I am already in my early 30s and will be 35 when I complete my MBA. Hence all those questions about long hours and work-life balance. My wife is already sacrificing a lot while I go to school for the next 3 years, but working 80-100 hours every week for 3 more years after I graduate might be asking a little too much. We'd basically have very little social life for 6 years straight.
Then go the consulting route as Doc stated and make well into the six figures without straining your marriage.
Posted on 8/7/14 at 5:29 pm to euphemus
quote:
Corp Finance role at a tech company
i work in tech. I have a degree in finance, although I am a sales overlay.
You probably don't want to do a corp finance role in tech. Most of the interesting stuff is done by the product guys, at least software/hardware/cloud, not finance.
what is a role where we cannot find people to fill the role is value consultant. building a business case for a customer. If you know software or hardware, we pay those guys $200k+ to start with, if you are really good you can clear 300k.
Posted on 8/7/14 at 7:32 pm to Hawkeye95
What kind of software? I work at a fin tech firm and they pay us well, but not that well.
Posted on 8/7/14 at 9:43 pm to Doc Fenton
quote:
This might be the key part. It seems as though your work experience might be your strongest asset, so it matters a lot what kind of engineer you were and what industry you were in.
I have a Master's degree in Mechanical Engineering. I have 4 years of experience as a design engineer in Oil and Gas and 4 years of experience as a product engineer in Semiconductors.
quote:
It seems like it would be possible (but not easy) to skip the 3-4 years in the lower rungs of IB and still land a job in PE doing CF modeling stuff on deals, but it would also seem that you need to stick with whatever industry you were in and offer your expertise in business operations analysis for a few years first. Maybe you could start off in the M&A department of a giant corporation (e.g., Shell, if you were previously in O&G), or maybe you could start doing valuations with a consulting firm that advises on deals within your old industry.
Financial modeling; DCF analysis; solving NPV problems; thinking about Dividend Policy and Capital Structure; Investor Relations; evaluating M&A prospects are some stuff that I love doing. I want to do something along these lines at a tech company after my MBA. Any idea if the above areas fall under Corporate Finance, Corporate Strategy or Corporate Development? What is the difference between them?
Posted on 8/7/14 at 9:47 pm to Hawkeye95
quote:
You probably don't want to do a corp finance role in tech. Most of the interesting stuff is done by the product guys, at least software/hardware/cloud, not finance.
I've done engineering for 8 years now. I am done with that. My interest lies in finance (see my above post for what interests me the most). I want to leverage my technical knowledge with the skills I learn in my MBA to make this career transition. I feel that since I am so familiar with the tech industry, especially semiconductors, it would be a logical transition to go into Finance at a company in that field. Any particular reason you say I shouldn't do corp finance in tech?
Posted on 8/7/14 at 10:06 pm to The Bobster
quote:
Did you work in the consulting arm of the big 4? if so, what was that role like? I'm currently working in risk advisory/internal audit and was considering switching valuation or transaction advisory.
Fellow LSUCIA alum Risk/IA Big 4er here... assuming you are too?
I can only speak for my firm in the city I live in, but transferring is relatively easy, especially if you're OK with potentially pissing a few people off. We had an IA guy move into transactions via rotation and it was a seamless transfer, but he pissed off some IA folks in the process. At the end of the day, it was a great career move and he's doing what he finds more interesting.
I will say Big 4 isn't the top of the world in terms of transactions services or management consulting, but it certainly is better than Risk/IA and can open long term opportunities if you wanted to jump to a "better" firm or MBA. This is assuming, of course, that you don't want to stay in IA/Risk forever because if you do, life is sweet at the Big4.
As someone in the middle of an internal B4 transfer, all I can say is go for it. Network internally in a smart way, don't burn bridges, and understand you're leaving the comfort and predictability of IA. Take advantage of the internal opportunities available at the B4. There's so much you can do. It really is a dream starting spot.
Posted on 8/7/14 at 10:09 pm to euphemus
No bank will hire a 35 year old analyst...
Posted on 8/7/14 at 11:08 pm to Athanatos
Which is stupid. frick age discrimination.
Anyway, investment banking is about to take it in the shorts.
Anyway, investment banking is about to take it in the shorts.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News