I am thinking of studying biz finance and eventually be an investment banker cus I really enjoy the progression and the job scope but I also heard it can get really competitive and super shag
Advertisements
any seniors from biz or even better, IB a can enlighten me on the workload and working hours (apparently can go up to 100+ a week) and if it’s super tough objectively to study IB?
Here are what netizens think:
- My father started out as an investment banker (he is in private equity now) and am on the track to follow a similar career path. Here are some things I learned about IB and fancy finance jobs -horrible work life balance (100 hours is pretty accurate) -very hard to get into, you need to do a stem major or econ in a prestigious university (in sg, NUS is pretty good) and do very well in said course. -network like a maniac to get certain interviews (helps if you are in a prestigious uni) -go overseas for MBA- Wharton, HBS, Oxbridge, LSE, Insead, haas and stern come to mind. -good thing about IB is the pay- you make insane money- my dad made about 350k a year in nyc around 20 years ago. He now makes around 4-5mil a year depending on bonus
- I don’t think that having a passion to make money is necessarily a bad thing, but only as long as you’re still a good person while doing it. Some get lost in the sauce and others pull through
- It’s not wrong to chase the money, it’s just nothing unique. There are tons of people every batch like OP – the qn is how many of them truly are able to qualify and stick it out till the end. Imo its those who find that the job demands aligns with their skillsets who will last, and OP’s reason for pursuing IB doesn’t quite cut it.
- OP – even if you want to chase the money – you have to do something you’re really good at to create more value to earn more in the long-run. Chasing what nets you more money in the short-run doesn’t always mean high progression. If you do something you’re not super good at, sure maybe starting pay is relatively higher, but the big bucks only come in when you really know how to create more value