Investment banking

Computer science, statistics, math. Investing and trading is quickly becoming automated. Everywhere, institutions are building algorithms to do the work, predict market moves, interpret and react to news and political events, as well as trading in the high frequency mode.

>>1137272
Meanwhile our biology and intellectual pursuits are getting weaker as the years pass.

>>1137260
>alot
forget about it

>>1137260
Watch it
https://www.youtube.com/watch?v=OReolQm34TQ

>>1137272
>>1137311
Look at these two idiots thinking investment banking is all about trading

>>1137260
Which country do you live in?

>which university are you applying/going to?

This can matter a lot within securing internships, and of course networking. Bulge bracket banks usually visit more ivy league schools, and usually only accept people if you're from a good college. If you go to a no name uni you really have to have top of the class grades and have shit loads of extra curriculums under your belt for them to accept you. However this is slowly changing and they're moving away from just taking people from top unis

in terms of what to study:
>US
economics, maths, accounting, actuarial science, CS, law, various different science disciplines, etc (a lot of the time it doesn't really matter what you study as long as you excell and get fantastic grades)

>UK
maths (really important, especially a maths A-level for some reason), economics, law, finance, accountancy, etc (again fucking top notch grades)

securing positions at banks:
networking > grades

get out there and chat to people, get to know recruiters. Make the recruiters day as they've had to take time out of their work to come and talk to all you smelly, scrawny, depressed students. same with interviews, they spend 10 hours interviewing graduates, make their day

they don't give a shit how smart you are, how you can make impractically complicated models, or who your dad is, or how much you 'aspire to be an investment banker'. bottom line they're looking for someone they want to spend 15 hours a day with, every day, for the next few years.

>>1137260
Don't go into IB.

Take my word for it.

>>1137374
le consulting :D

>>1137379
That is even worse. It all depends in what you want in life. I never did consulting.

>>1137386
I heard consulting is less stressful and has less hours.

>>1137391
It is less stressful (you still travel a lot). Pay is good but nowhere near as good as IB, AM, PE, HF++. If you consider talent and time spent. The work is..... Definitely not for me. I would personally only do it to break into PE later. If you're smart enough to land a job at MBB, then you're smart enough to break into IB and other financial vehicles later on in life.

Consulting->BS->PE
Consulting->F500->PE
Consulting->IB->PE (less likely but still doable)

Those are examples in regards to the career path ''statement''.

>>1137400
What's PE? Private equity?

>>1137530

penis enhancement

>>1137530
Private equity.

>>1137272
>>1137350
So finance degree is a complete meme?

I am going to graduate high school this year and 18 also, I have no idea which degree will make me money.

Wat do biz?

>>1137400
What's AM? I assume HF is hedge fund manager?

>>1137260

I'll be your guide anon. I'm an incoming analyst at a Buldge Bracket Bank.

First you have to understand what is IB and what departments there are. THIS IS NOT A FULL GUIDE just a short answer to your question.

1. S&T (Sales & Trading): Math, Statistic, engineering but also economics and finance. You can find there every type of person in the end it's just about how much profit you can make and how much you know about the capital markets.

2. IBD (Investment Bankin Division): Mainly finance and economics.

Let's go now to less appealing departments

3. Risk: Statistics, math, computer science, engineering

4. Research: You must be desperate to get in here. Frankly I'm not sure what you need to be here but I guess economics and finance will be ok


>>1137391

Depends. I have friends who did an internship at MBB (McKinsey, BCG & Bain) and if you're in strategy consulting you work as much as in IB. Maybe not as much as M&A or ECM but you'll definetly work a lot of hours and some weekends too. If you work at "normal" consulting then yes, less stressful and less hours but also less hours


so >>1137400 you're wrong. At stategy consulting (especially MBB) pay is as high as IB. It depends on what you enjoy. Got a friend who interned at JP Morgan and BCG and chose the BCG fulltime offer.

>Consulting->F500->PE
forget about this once your F500 you stay F500

>Consulting->BS->PE
unless you are from Harvard with top grades and had a MBB job no good PE will take the risk to hire someone with no experience like you

>Consulting->IB->PE
>Consulting->IB->HF
MOST likely doable of all you mentioned.


>>1138300
AM = Asset Management

>>1139397
>>1137400

I got a job as a Business Analyst for a mining company, is it plausible to eventually bridge off into consulting after a few years in industry?

>>1139402

I really don't know much about getting into consulting after your first job.

But I guess networking, working at a big company and applying at some consulting companies that work very closely with the mining sector may help a lot.

Also you can try to do an MBA and then apply at Consulting Companies.

>>1139409
I was thinking getting my CPA since i'm from an accounting background, what do you think is better , CPA or MBA? I know my company right now pays for CPA but idk about MBA

>>1138231
No its not a complete meme. Investment banking, like stock broking, is a dying profession in the age of technology. Finance is still a good major if you're willing to work hard and have no life for a little while. I swear pussy is easy as hell if you're a finance major too, bitches think you're going to be wolf of Wallstreet rich one day.

>>1137260
Finance at an Ivy League to get into IB the most easily.

Join the best fraternity on campus and do nothing but fraternity events, networking, and studying.

>>1139397
what does the risk department do?
I'm a junior, math major. Do I need a Masters degree to get the job?

>>1139425
oh i see, thanks for the advice

>>1139447
watch Margin Call

£250,000 per year, nice cars, you look like Spock and you meet the Lehman brothers director who looks suspiciously like that guy out of the mentalist

>>1139447

http://careers.jpmorgan.com/careers/divisions/risk

http://www.wallstreetoasis.com/forums/risk-management-vs-front-office


>>1139417

I know that CFA is also a way to enter the banking industry. Don't know the exit opps of CPA but exit opps at MBA are definetly good. You definetly have a lot of research to do if you want to be well prepared and choose the right option.

>>1137260
>my question is what is the best education for this, what kind of direction do i have to go.

I became an investment banker by showing my own portfolio to some friends that work in an investment bank over a drink, never had any education concerning economics, finances, acturial sciences etc. what I could do is read the financials and have a good prediction when to enter and exit each position.

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FUCK all those supposedly high prestige careers.

The only way to make good money and still feel good about his life is creating a business. The rest is bullshit. Prove me wrong.

You'll never be able to get the satisfaction of building something 100% from the ground up by being in those bullshit jobs ("consulting", "ib", "trading").

>>1141572
You're right senpai. The only way to make good money and preferably enjoy your job is working for yourself.

>>1141574
I'd go as far as to say that the consulting jobs are emasculating.
You don't build something, you just "advise" people. I don't know how you can get any satisfaction from this as a man.

I'm willing to bet lots of "high profile" consultants feel dead inside. Can people who work in consulting tell me if I'm wrong?

My biggest respects go to founding CEOs.

>>1141572

in my industry investment banking is usually a stepping stone to transitioning into an executive role at another business or even starting your own company. I've had discussions with others at my bank regarding this and plenty of seniors at my firm have their own side-business.

It's a stepping stone to something even greater. Nobody actually likes this shit.

What are the downsides to IB besides slave hours? Also, what are my chances of getting a job in IB if I go to a decent university, study finance, and have a 3.8 GPA?

>>1141689
hahaha sounds like the people who need an MBA before trying to start your business.
Or people who go into consulting because it let them "have their future options wide open".

At some point you need to put your balls on the table and just do it. Going into IB/Consulting in order to start a business later sounds like a waste of time.