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spectroscopy:
but pretty much no jobs in the world give you the exit opps of IB and even if the hourly rate is low most places wont have enough work to justify you doing overtime until you hit 150k

Gekko:

--- Quote from: genji on August 04, 2013, 07:59:38 pm ---but pretty much no jobs in the world give you the exit opps of IB and even if the hourly rate is low most places wont have enough work to justify you doing overtime until you hit 150k

--- End quote ---

The exit opportunities available are another reason I want to go into IB. Yeah I wasn't actually suggesting that you could just decide to work 80 hours another job, I just wanted to make a comment on the low hourly rate once you break down your salary.

Edit: There was an article I read on M&I some time ago that looked at IB remuneration and from memory the hourly rate was comparable to a McDonald's employee.

appianway:
The hours reduce from an average of 14-16 hours a day in your first year to about 10-14 hours a day in your second year. The hours get better as you get on, and within a few years, you're making a lot of money, doing some really important work and have the time to have a life. One of my friends who just finished his first year actually maintained a relationship, which I find admirable.

The exit opportunities in IB are good, but mostly if you want to work in the financial sector (HF, PE etc). I'm sure it's possible to go into industry and work for a FT500, but that depends on how you network. A lot of people also do an MBA as a point to transition between careers. I'd say that the exit opportunities from management consulting are a lot better as they're broader, but they're not as good if you're trying to go over to the buyside in finance.

Hancock:
This is just my opinion, but earning 100k when you only have time to spend it between 12am and 7am is a big call. I know a lot of people out of high school don't think of this know, but realistically, is that amount of money (which when you work it out on a per hour basis, isn't that much higher than grad roles where you work 8-9ish hours a day) worth the severely reduced social and romantic life? I do commend your friend appianway for maintaining his relationship as a first year IBanker.

816:

--- Quote from: Hancock on August 05, 2013, 12:51:28 am ---This is just my opinion, but earning 100k when you only have time to spend it between 12am and 7am is a big call. I know a lot of people out of high school don't think of this know, but realistically, is that amount of money (which when you work it out on a per hour basis, isn't that much higher than grad roles where you work 8-9ish hours a day) worth the severely reduced social and romantic life? I do commend your friend appianway for maintaining his relationship as a first year IBanker.

--- End quote ---

Pretty much 100% agree with you here. Your 20s are a unique period and ostensibly the pinnacle of your life. I find it hard to believe people when they say they genuinely enjoy this kind of stuff. If you took away the pay packet, I doubt even 10% of the people would consider IB.

Personally, my goal in life is t need to work as little as possible to support my interests in life, like music, sport, friends, opposite-sex, reading, recreational maths and dancing.

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