Why are doctors, lawyers, and bankers sometimes grouped together?

Maybe they know all the ins and outs of leveraging money.

Plus not all bankers have similar compensation.

Because the term “bankers” is broad and includes loan officers at the branch and the Global VP of M&A at Goldman Sachs.

Usually when people talk about bankers, they’re referring to people like the latter.

A frick ton of the lawyers are full of shite and barely keeping up appearances with their cash flow.

I mean...what do you mean by banker/loan officer? Pretty wide gap between a loan officer at a branch and the credit officers I work with who put huge syndicated loans together and make bank

Okay. Let’s take the President at Hometown Bank, U.S.A., which my dad was for 30 years….we weren’t rich, but I had it pretty good growing up. We took nice vacations, had a spare car, and my old man graciously put me through college. IOW, he did a lot for me that I didn’t deserve, like most parents do for their kids. Mom was a homemaker.

When I joined the work force and had been at it a few years, dad and I had a candid conversation about money. He was getting ready to retire and making plans for all that entailed. I casually asked him what he had made annually over the years, and I was shocked at his answer. It just didn’t seem like a lot given the lifestyle we had enjoyed. I mentioned this to him and he simply shrugged and said he had been “careful”….

The lawyers I know and deal with are honorable men and women.

Most of the car people I deal with are the same way, with thr notable exception of the BMW dealership in D'Iberville.

It starts in High School. Most have to score above a 32 on the ACT to have a chance at a top 25 university which banks typically recruit at (not to say it can't be done alternative routes, but just more difficult). Really before that, it takes being upper or upper middle class being accustomed to a lifestyle that you know will take hard work by the time you reach 18. Just auto-programmed into you that anything less is a failure. From there, usually need a 3.7+ GPA in Finance to get that IB offer from a top school. Really, if Investment Banks want the best, they should be recruiting engineering more as in my experience, engineering majors are much smarter than finance majors. The engineering degree is exponentially more difficult than finance. From there, need to work 80 hour weeks at analyst level, then 70 hour weeks as associate, gradually goes down as promoted for year and decades. Few bankers have hair by 40. Most souls have left their bodies long, long before they reach 40. They don't care about anything but profit. Any and everything they do, at least at work, revolves solely around profit. You consistently show up 4 minutes later than your boss for a month straight? Probably canned. Incredibly hierarchal. You absolutely have to show up before your boss, and leave after your boss, or you're fricked. That works its way from the very bottom to the MDs at the top. Don't really like how they call it MD for short because that in my mind should be Doctor, but it's Managing Director there. Are they happy? I don't know. Maybe, maybe not.

I know someone that had to come in on their wedding day morning to work in banking. Some horror stories get exaggerated, but working 70-80 hours every week for years staring at nothing but excel sheets and powerpoints, and a boss chewing you out because the logo you used for Aethon was 3 pixels offcentered, and you were using the 2022 logo, and no the updated 2023 Aethon logo will ware you down to the bone. The very top may work 55 to 60 hours. That's after having to do the 70 to 80 hours weeks when younger. To be clear, I'm talking investment banking. Now a local banker at a local bank that gives out loans to small business? They won't clear 10% of investment bankers at the top.

That's as accurate as I can give it and is why they make a shite ton. It's also why most don't make it more than 4 years, and many move on to Private Equity. Lot of people get offended by this description because it makes them feel insecure or not good enough, but reality doesn't care about feelings. This is how it is. They aren't hiring slapdicks with 2.0s and cut out at 5 PM.

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How many investment bankers do you know? Because I know several, and yes they work a lot, but most of the bullshite you posted, is just that, bullshite

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Hundreds. Had 2 investment banking offers and turned it down after reality of it all. Talked with hundreds about the job. Interviewed with dozens of investment bankers. It is as accurate as it gets. You are, in fact, the one that is full of bullshite.

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BMW dealership in D'Iberville.

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They do lie