What does it take to be an investment banker?
ivy school and dad holding a position for you
Private school educated
Episcopalian raised
Ivy league grad
Connections
Stimulants
>>993149
I had some banker friends, eventhough in an engineering branch I started investing in some stocks with the spare money. since I am not into programing and economics, technical analysis was too much astrology for me, so I did my best with value investing. every year after reaching a point of having $10k spare to invest I looked into some companies which I've been screening (Graham Number, DCF's etc.). I analysed the branch and the business as much as I could, found articles on LinkedIn of some people from the industries, read myself through and after feeling confident enough made a long position at the preferred stock. I chatted with my banker friends about it while meeting for a beer and one of them was in an investment sector of his bank, he asked me to show him my portfolio he showed him to his manager, he was impressed by the portfolio but even more by my analysis of every pick which he asked me thorough so he gave me a job. Now I am an investment banker.
>>993331
small or big boutique or BB?
>>993177
Episcopalian/Jewish
I looked at jp morgan's investment banking analysts on linkedin in london. Are british people a dying breed in ibd? Why hire a british monoglot when you have shitloads of continentals with 50 languages each?
>>993397
Yeah. I have a good buddy who works as an analyst for JP in London, and I partied with them during training and not a single one was actually from the UK. Fucking insane.
>>993401
>has a good buddy
>buddy has a job
>anon partied with job buddy
>anon's claim to fame
>>993149
target school, good grades, not a social autist, desire to work a lot
Bankers have serious drive, chasing fees burns most people out
Apparently a black suit and tie
>>993151
/thread
>>993149
It's mostly about connections. I go to a semi target for ib. We have a club for ib. Half the people are idiots but because they can meet the right people they can get the job.
>>993149
I did IBD for 2 years before moving into PE and trust me, doesn't take much. There are tons of mouthbreathers who get jobs because daddy or any number of reasons.
They usually burn out and move on to shit jobs after their 2 year analyst stint is over and they were too dumb to get promoted or recruited though.
>>993149
Will to apply, a good track record of any kind of money management showing consistent profits, a degree would help, a good degree from a good school would help a bit more.
>>993149
I'm in a biz program that churns out a good number of IB recruits (not me though, I'm going industry for that slick 40 hour work week).
Superficially, they're all good looking, self promoting, well liked socially, and hold fancy titles in school clubs.
On the work and experience side, most have had some experience working in the financial sector (accounting, auditing, sales/trading, corporate finance), are in the top 75th percentile in grades, actually work hard in those school clubs to pull off big events and projects, volunteer/work during the year at some kind of social cause, and generally sleep 4 hours a night during recruting/exam season.
tbqh only a few come from prestigious backgrounds and private schools, with the rest going into banking to pay off outrageous debt, or to rise out of the middle class lifestyle they've always lived, and are super motivated. Most of their connections are self forged
I'm getting my masters in finance at Texas Tech but my school has the best real estate program in Texas. I got a phone interview with Goldman Sachs for their commercial real estate IBD office in Irving.
I spoke with a VP who ran down my resume. He said they had 120 candidates to fill 7 positions and they'd invite 35 to go to office interviews. They categorize the candidates in 3 categories:
1's: people with real estate education and experience
2's: people with real estate education
3's: people who had neither
He said he considered me a strong 2 because my degree is a concentration in real estate but I have lmao no experience.He also said he like that I did my undergrad in history, supposedly liberal art undergrad degrees are common with investment bankers.
So now I plan on helping my friend buy a rental property and call that an "internship" and I'm also planning to get a real internship this summer. I'm also going to represent my school in this real estate valuation competition against all Texas schools.
Hopefully this will all get me an office interview next year.
>>996564
This guy was co-chair of Goldman Sachs and he has an undergrad degree in English Lit.
>>997438
from Dartmouth, and he has a Harvard MBA. Ivies don't really have respectable "finance" majors, outside of Wharton. Anyone who legitimately got into a target school (not through athletics or affirmative action) is smart enough to do the math.
>>996564
Got recruited from GS out of Cornell, 2 years in NYC. They moved me out to Salt Lake City for another couple of years. Now I'm in Silicon Valley working for a start up. Lots of recent graduates said they chose to come here because the best days of Wall Street are in the past. I agree with them.
>>993666
It's the easiest time ever to break into finance, the "best and the brightest" are choosing tech. The hours are actually similar, and so is the high cost of living. But at least I get to wear sneakers to work.
>>993149
I post the same shit in every thread about my brother
Went to top uni in the state, commerce/law distinction average and had connections
He signs joint ventures and IPOS and other shit
>>993149
A PhD in Mathematics from an Ivy League school
I'm interviewing for a junior position in accounting for an auditing firm
what should I expect if I get the job?
I know it's a great way to learn and develop (this is my first job out of college) but I kinda fell for the auditing is boring as shit meme
>>999866
fuck I meant to post this as a seperate thread
