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Anonymous
ER or Vanilla Banking 2017-03-07 03:22:39 Post No. 1839454
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ER or Vanilla Banking 2017-03-07 03:22:39 Post No. 1839454
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I have been accepted into a couple of top-20 grad programs- one for Equity Research/Valuation and another for Corporate Banking/Credit Research.
I am essentially guaranteed a job in either industry upon completion. I've always wanted to be a buyside equity analyst, it just sounds exciting and challenging. But I don't want to work in NYC or SF and I dont want to work more than 60-65 hours a week, unless its earnings season or theres a good reason. This obviously limits my prospects, but I just dont think an extra 100k a year is worth me spending 12 hours a day in my office for 15 years or so.
Can you make money before 30 in commercial/corporate banking? I am fine with making under 200k until 30-40 as long as im working decent hours (which is normal in non I-banking). But I dont want to be stuck making 100k or less at 30 (bonus included).
TLDR I feel I would stand out a lot more and progress quicker with less effort in a traditional lending job, but feel I will miss out on a ton of money on the buyside. I would enjoy either but dont want to burn out.
Am I missing something here?
I don't have any experience in research so this is my only chance to break in.
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>>1839454
If you want to make money as equity analyst you will need to work a shitload of hours and get into investment management.
Only way to make it up is to be a very successful relationship manager in commercial banking. Can you sell?
there frankly isn't a lot of money in traditional banking.
Well, either way, you probably will have to be damn good at selling. Either that or be a top 0.1% analyst.
source: dude in top 15 mba program trying to make it into a hedge fund and retire by 40 but first he needs to pay his dues. currently working in commercial banking (want to kill myself every day but its normal hours), but wanting to transition into equity analysis and hopefully one day hedge fund.
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>>1839600
>>1839454
also what's this bullshit about 12 hours a day for 15 years. No.
even investment banking at a BB (which should be your lowest target), you will make 150K+ out the gate, and 300K in 4-6 years if you stick around. You should also be able to easily switch to a more comfy gig that pays $150-$200K after 3-4 years. the job opps out there for someone with top IB experience is huge (though still nothing compared to mgmt consulting. its retarded how much companies want to suck mgmt consulting dick, opps are nearly endless).
but again, the highest level is equity analysis. Anton is right; the less intelligent grinders/salesmen are who stick around in IB.
the truly talented people move onto asset mgmt/hedge funds and make real money.
investment banking and mgmt consulting is like 50% bullshit in my opinion; but competing and being rewarded for TRUE skill is of course 10000x harder.
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>>1839600
why do you want to killyourself?
it sounds fun driving around doing basic credit analysis and talking to real people.
or do you have to kiss a lot of ass?
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bumpity bump bump bumpity bump
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>>1839850
banks are run by regulators
80% of the game is worrying how it will look to them
a huge chunk of time is spent dealing with auditors
trad. banking is just about collecting payments. u dont get rewarded if company grows. only punished if company fails.
banking was fun pre 2008. now its shit
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