Disclaimer:
· I work in a US BB in NY as an analyst in a hybrid IB/S&T group (colleagues of mine would know)
· I went from intern to analyst in another city, and then to NY a year afterwards
· Did finance undergrad at average school
I think 90% of what’s been posted above is complete bullzhit. I also think posters that are/have been in IB or any other analyst role in a BB did it merely because of one of the following; 1. Prestige, 2. Jump to the buyside (AKA exit opps), 3. Money, or 4. Because they just follow the herd. To me all of these are the wrong reasons to be in IB, or any other job for that matter. You should only get into a job this demanding for the knowledge it will provide you with. Period. There is no prestige in IB –don’t be so f-ing stupid. It is just a job. “Moving to the buy side.” Grow some balls and start investing yourself –that “I-want-to-invest-OPM-&-still-get-paid” won’t take you anywhere. There’s very little money in IB at the analyst/associate level –you’d be better off driving Uber and living with your folks. And finally, stop following the herd and think for yourself.
I think IB in itself is comparable to going to a top undergrad/MBA/Phd program. The only unequivocal way to find intrinsic meaning in it is to do it for the knowledge. But you may ask yourselves, what knowledge is there in IB? And the answer to that is “as much as you want there to be”. On my end, this job has brought me to a whole other level on how I think about assets, investing, and the financial system in general. The thought of my job being miserable has never crossed my mind. Working hard (long hours) is something that either goes with you or it doesn’t. I’d work 12 hours a day even if I were retired. I don’t differentiate between my “work” and my “life” –to me there’s just life. And as long as I can wake up and keep grinding, I say it’s balanced.