What are those fancy finance jobs really like?

also interested

i'm an entry level accountant (just started working for citibank) and wondering how i can progress higher

>>1660102
bump

>>1660102
Literally work from 7 to 8 or 9. Go out, do blow, fuck a slutty bitch or your gold digging gf whatever, knock out, wake up on Sunday to go to work again. This time they let you out at 6!

>>1660219
He asked what they're really like, not what the movies are like.

you have to generate money or you are fired.

>>1660399
really?

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>>1660399
no way

All positions in finance pay more than they would in other industries.

The real money goes to sales. If you can bring money in the door, and keep it there, you'll be heavily compensated.

And if you don't cover your cost, you fucking dead

>>1660219
This anon knows
>>1660377
This anon doesn't
It's a high stress grind that pays really well. Hookers and blow are optional. I think alcohol is more the drug of choice for most.

>>1660491
How do I get into sales? Any specific major that is useful or a type of company?

>>1660491
So Customer Service side of the Finance Industry is where the big salaries are?

>>1660734
Interested to know this too

>>1660102
You'll work your dick off as much if not more than surgeons but gain networking and knowledge that could allow you to become a multimillionaire .

There are many ways to get there. Finance, accounting, (tax or civil) law. You work from early morning to late at night until you physically run out of time. And then you realize that you work as much as in two jobs to get paid like you have two jobs. And of course its highly competitive, meaning everyone is an untrustworthy asshole.

As with any job you can break free from all the bullshit by starting for yourself.

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>>1660102
imagen making tons of money to live any kind of life you want but you cant leave the office weeks turn to years and finally you find your self unable to work anymore so sometime in your mid forties you have a nervous breakdown your wife leaves you and takes half your shit never see your kids again because you were not a big part of their life anyway and you spend the rest of your days teaching business students who want the life you just spent

>>1660744

I have shadowed a Deutsche Bank wealth manager on several occasions to see what he does. Guy has a list of clients, 90% of which are old widows who have no idea how to spend their dead husbands' money. He gives the ladies all the charm he's got, always wears a nice suit, talks with a comfy southern accent - all pageantry to keep his clients happy and get them to recommend their other rich friends to him.

He makes a fucking shit load of money. Lives in a mansion on a golf course in one of the nicest neighborhoods of Atlanta. Part of multiple secret societies. All he does is set these women up with risk-averse, conservative investments that they don't have to worry about and can pass down to their kids later. He gets I think 1-2% of profits from each account, which from what I have seen is often $50,000 in his pocket per phone call. It's literally like
>Hey, Martha. I have a great investment for you. This is extremely safe and will be good for your grandkid's trust funds. Can I pull the trigger? Great, thank you
*hangs up phone and looks at me smug as fuck*
>See that? Just made $50k.

Ridiculous. But to get to where he is, you have to spend many years building up personal relationships with rich people and maintaining your reputation. You screw over one client and they will tell everyone to stay away from you, and you could be done.

>>1661662
This sounds nice. How old is he? What did he study? What was his first position in the business? (Assuming you asked him stuff like that)

>>1660102
Read the articles on Mergers and Inquisitions.

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>>1661608
Fuck

Spent business school wanting that life. Didn't make it and ended up in a tech startup- shit pay but tons of skills and fun.

The money in finance is appealing, but the more I read about it, it sounds like a shit way to spend your life

>>1661676

He is early 40s. Majored in Finance and went immediately on to get an MBA. Got an entry level position as a bank teller after school and eventually transitioned into wealth management 10-15 years later once he figured out how to start building a client base.

He has a 9/10 qt assistant who is like 28 and just getting started building her own client base like he did, except 10+ years before he started. He says that she can be where he is now by the time she is 35 if she works hard and can get clients together early on. In fact, he recommends that if you wanna do what he does, start building that network as early as possible. That's why he is big into secret societies around here... slick bastard goes to every meeting just to pitch his business to every Georgia elite he can get a conversation with.

I am graduating with my own Finance degree in 7 days and am gonna immediately start getting experience with investing and financial planning in general.

>>1661714
So basically slave away for 80 hours a week doing power points and excel stuff for 2-3 years as an analysist and then either go into hedge funds/private equitity or climb the ladder to do this for another 5 years until your in a position where you do no real work at all?

>>1661608
Isn't the work load supposed to be lower when you go into the higher positions? Not really work hours but I mean spending many hours a day doing nothing or bullshit work like meetings and business meals.

>>1661724
>So basically slave away for 80 hours a week doing power points and excel stuff for 2-3 years as an analysist and then either go into hedge funds/private equitity or climb the ladder to do this for another 5 years until your in a position where you do no real work at all?

From what he describes, yeah.

You'll notice he decided to write an internet blog instead of doing that, though

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You have to be cucked and politically correct as fuck

You should be able to go around slapping women's asses and grabbing their tits but nope

>>1660102
I have a buddy who works for KKR.

Basically he said a minimum work week was 60 hours. You would be working for most of that time, not just looking busy in the office. Your job pretty much owned you because that could call you at any time to do something (usually modelling) and you could not say no, ever.

That being said if you were heavily compensated so if you don't mind being someone else's bitch from 8-6, mon through Saturday it's definitely something you should do.

You will be selling rent to own TVs to stupid people or you will be trying to collect debts from stupid people. It's just one step up from being a prison guard

>>1661724
>Isn't the work load supposed to be lower when you go into the higher positions? Not really work hours but I mean spending many hours a day doing nothing or bullshit work like meetings and business meals.

Pretty much. Think about it like this.

If Goldman Sachs needed someone to build a model of a business they wouldn't ask Lloyd Blankfein to do it . Why? Because he gets paid about 20m per year, get some 100k analyst to do it. If you are earning way more that an analyst then your going to be doing stuff that an analyst doesn't do. Otherwise why not get rid of you, hire another analyst and make a large savings for the bank.

If your that high up in the game your going to mostly be setting up deals, not number crunching

>>1661724
99% of people will never make it past middle management

>>1660102
from what friends in london tell me they involve leaving home before 7, getting back after 8 after a very stressful but dull day, cook dinner, go to bed. maybe go out on friday and saturday if you have the energy, repeat.

>>1660219
basically this minus the sluts and blow

accounting for expenses you'll have a higher standard of living than if you lived somewhere outside a major city, but not as much as you'd think. you, for instance, would not be one of the ones cunning and ruthless enough to reach a point where you're above low-6 figures.
oh, and you'll burn out in under a decade, again unless you're one of the few who can hack it. i know more people who've worked in the city and burnt out after a couple of years than ones who've worked there for more than 5.

it's all well and good reading the anecdotes posted on /biz/ from some anon who says he knows someone who knows someone who brings in 7 figures and has a mcmansion, but to be brutally honest you and 99.999% of the population will never have the skillset or personality required to reach that level. analysts with autistic tendancies will never earn particularly impressive salaries.

>>1662497

Basically this.

I work in investment banking. I'm someone's bitch 9 am to ~11-2AM weekdays. I usually put a few hours in every other weekend or so

>>1663040
I've worked those kinds of hours in a tech startup for a few weeks at a time and it's soul-destroying

I can only imagine how it is for months or years at a time. Though the pay is a lot better than tech

>>1660686
>>1660142
I hate my life. I hate New York. I miss my friends. I hate my fucking girlfriend. I fucking hate this job. I hate my fucking dickhead boss and more than half my coworkers. I pop an Adderall every morning before I work out. I smoke half a pack a day. I finish a 750 to myself every three or so days. My nephew and small children in general cry every time I try to hold them because I smell like cigarettes and whiskey. I think I met the love of my life in college and she just got married to some fucking humanities graduate fuckface. Sometimes I think about jumping off the Brooklyn Bridge.

When does this fucking end.

>>1663069
I take it your creative writing class is going pretty well

>>1663053

I'm at 1 and a half years. It's garbage. Looking back at the past year, all I remember doing is work, and going on vacation to Florida for a week.

I don't even make plans anymore because they get shit on so frequently

>>1661662
>>1661718
Okay interesting, yeah, dem people skills. But also interesting what you're saying about how he recommends building your own client base early. That's an important thing to remember: the customers are loyal to YOU not to the bank/fund.

>>1661662
I bet he lives in one of those mansions along the ridge of Bear's Best golf course in Suwanee. That's a nice as hell golf course, and I bet they have some good homeowner's insurance when somebody slams a golf ball through their skyline window.

will read this later

>>1663069

Damn son.

>>1663069
>mfw I was thinking about going into finance

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I thought finance was a comfy job.
Is accounting any good?

>>1661662
>>1661718
As someone from GA I 100% can imagine this.
I bet he was in the gridiron society. All that easy ATL money just sitting there. I basically see everyday the kids whos trustfunds you were describing.
It's too easy for guys like that.

I actually know a college buddy who started at D bank a few years back. He's miserable as fuck and is required to put in 80+ hours a week doing mind numbing bullshit. It's all to weed out guys and if you're still there in a few years you get bumped up and make a bit more.
Sure you get paid decently but they were the fuck out of you to get their money's worth.

>>1663069
mfw this was me as an intern in new york 2 years ago.

idk if there's a good place when you can quit in the job, but I'd say finish your job where you can. You don't hate NYC you just hate where you are in life right now and your perspective isn't lining up with the lifestyle and it's something you need to appreciate from the outside somehow.

Not saying quit bc if I had quit my internship it would've been one of my biggest regrets but do something to get outside of all of that and be w/ ur gf or dump idc.

>>1661662
this post is fucking ASTOUNDING

I briefly was incredulous, (at the notion of a simple phone call yielding 50k)...bht then remembered this was most likely money gained over 30 years by the blood sweat and tears of aforementioned husbands, and not spontaneously generated at the time of the call.......still though...50k for a goddamn "safe" obvious place to park your fortune,

the smug fucking bastard. money is retarded.

>>1663727
The guy didn't get $50k in his pocket from one phone call. He MIGHT get $50k per year from the client, assuming the client has $10M with him and he charges 1%. (The bank keeps half the percent and he gets the other half percent).

D bank is fucked forever in the USA, by the way.

>>1663069
Are you me?

I feel the exact same way

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You get up early every day
You have to dress well, every day
You have to act nice, every day
You work long hours, every day
Your boss can and will call you at 2AM to ask about P&L and forex markets
You get home late
Your apartment will get unbearably messy by the EOW
Your greatest pleasures in life becomes doing your laundry, jerking off and cleaning

I'm hoping to switch to a comfy middle management job out west, preferably in Utah.

If I can cover living expenses and can still buy guns and ammunition and can put 93 octane in my car, I will be happy

>>1663865
What are finance guys jerking to?

>>1663890

They imagine Free Time.

>>1660102
i go in, do nothing until 12, maybe yell at some interns. get lunch, see how clients are doing go home.

>>1660102
As someone who's done an IB internship:

>Get in at about 8am
>Do bitch work until about 8pm, usually past midnight if there's a big deal going on
>This work is tedious, brainless and repetitive. You're putting together financial models on Excel, perusing through countless SEC filings and broker reports, making powerpoints.

It's mind-numbing, stressful work. You're pressured to do this tedious bitch work efficiently and with strict deadlines, and a lot of the time the MD will just decide he wants you to essentially do something that took you a 16 hour day/night all over again, or a deal falls apart or updates to the point where your work is obsolete.

There's no job satisfaction.
You're paid less per hour than a McDonald's line cook.
You have very little time for hobbies, leisure or relaxation.
There's not really a weekend. My bank's IB division shut down around Friday 5pm (unless it was VERY busy) and you had Saturday off, but then it was back at it on Sunday. You generally want to just relax all this Saturday - so forget having serious pursuits or passions outside of work.

I wanted the big Wall St. career so badly, until I got a taste of what it's really like. I'm moving into Management Consultancy now - as I get older and more in touch with myself I'm aware that I'd sacrifice a fair bit of money for job satisfaction.

So bascially
>long hours
>no free time
>boring job
>depression

Is law any better? Being a partner sounds pretty nice.

>>1664031
What field and position?

>>1664036
>You're paid less per hour than a McDonald's line cook.
What
Otherwise you're probably right. If banking sucks what are the good finance jobs then? People here write about analysists switching to hedge funds or PE, is this better?

>>1664501
as an intern, he means

Which is sometimes true and sometimes very far from true

>>1664496
Asset management and client relationship manager

>>1664506
How old are you? It probably takes a while to get into those "client relationship" etc positions which are more relaxing than what others here described.

>>1664528
Not really, just have to be a smooth talker. I'm 25, need to know rich people that is pretty much all my job consists off. Know Russian, Japanese and Mandarin. Hits all the target markets apart from the easier Arabs those fuckers are so easy to get on board all you have to do is go all Allah would approve.

>>1664531
That's impressive. But good to hear, I'm currently learning japanese already and wanted to start mandarin afterwards. So you work at a bank I guess? What did you study?

Asset/wealth managment sounds pretty nice from what >>1661662 and you are saying.

>>1664533
I did a degree in finance, but the location was much more important. A Swiss private university with loads of rich kids. Its not a bank, its an asset management company. But to be honest it is shit money in perspective. I am just saving to do my own thing. Business owners>everybody. I mean CEO of any company still makes only a % of what the main stockholders do

>>1663652
Thanks for the memo.

>>1664564
imd?

>>1664577
Bsl you can't get into imd until 29. Plus imd is for professionals not rich kids. Will go there later on, though might opt out for London business school since imd went out of top 5

>>1664598
Always wondered about those private swiss business schools, what is the advantage to them?Considering the swiss public universities(hec st-gallen, hec lausanne, epfl, ethz etc..) are already amongst the best in the world, ranked higher and easy to get into as well as not only free but you get paid to attend... Care to explain what advantage you would get of it?

>>1664613
I know execs from jti,nestle, p&g, coca cola, ubs, CS, IMF, WTO, several ambassadors personally most of the UN agencies in some way too. Plus all the alumni families have at least 3-5 m net worth's.

Sounds fucking terrible from what people in this thread are saying, but I guess some people like that lifestyle

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>>1661608
N-no. No, I'll start my own business before my 40s. I was thinking about reselling some stuff on Amazon and I'm interested in day-trading...