Investment Banking!111 (1 Viewer)

[Studentleader]

Before you read:

1. I have read all the backstab commerce shit
2. I know how much you have to work
3. I know its like the flava of the year

Is IBing really as high up as everyone on this forum says it is? By the way people put it, it basically seems like the kind of job you just wont be able to get.

I'd like to keep my options open, which is why i'm doing commerce, at the moment i'm looking at IB or actuary (haven't really seen any more appealing jobs then these.)

Now, i'm planning on going to uni of melbourne which doesn't have the economics/commerce double degree that I want in Perth so should i just do pure commerce there?

Was reading the Uni of melbourne website and i thought bachelor of agriculture was bachelor of actuary LOLLL

 

[HalcyonSky]

unless you have connections or are really impressive then yes, it is as high up as people say it is. Why there is so much demand eludes me, i dont think alot of the people making IBing posts here can really comprehend what they're in for.

You will no longer be a human being, you will be an Investment Banker, whose purpose in life is to generate profits. You will begin to shed any performance hindering emotions and evolve such that the only pleasure you gain is through work, and so that your fears are only suppressed by long hours at the office. Every second spent sleeping, the market and your workload get ahead of you, so you adapt. You're getting 3 hours sleep a night, tormented by nightmares of recessions and downswings. Your eyes sting and your body is numb, but youve got money to make

the way i see it, its like disappearing into a void for 15 years and sacrificing every single aspect of your life for some extra cash and an earlier retirement, you really need to weigh up the pros and cons and consider whats important to you

but then again im not an investment banker, so i wouldnt really know for sure that my dramatisation is accurate

 

[Studentleader]

unless you have connections or are really impressive then yes, it is as high up as people say it is. Why there is so much demand eludes me, i dont think alot of the people making IBing posts here can really comprehend what they're in for.

So could i set up my honours so if I did "really impressive" I could work towards IB (get a MBA ofcourse) but if i didn't do as well as I'd need to, I could still do actuary?

 

[doink]

Do Com/Law if you want to do IB. And over on this side of Australia an economics degree = a commerce degree except you have only 1 major and less choice of majors, for example you could do commerce (which has 2 majors) pick one of those majors as economics and you now have a better economics degree then you would have doing straight eco. If you want to do IB make sure one of your majors is Finance.

 

[Foxodi]

Even if you are able to get in and do the job, It sounds like you'll basically be sacrificing all aspects of your life for years and years until retirement basically.... If your materially obsessed go for it - but letting your life being so consumed by a career does not sound good to me... esspecially when after you retire you'll prob have no emotions left I approve what HalcyonSky has said.

 

[Studentleader]

Do Com/Law if you want to do IB. And over on this side of Australia an economics degree = a commerce degree except you have only 1 major and less choice of majors, for example you could do commerce (which has 2 majors) pick one of those majors as economics and you now have a better economics degree then you would have doing straight eco. If you want to do IB make sure one of your majors is Finance.

So it might be better to do it in Perth so i can do comm + econs with 4 majors.

I really dont want to do law if its just gonna be something i can stick on my resume and never use, its like the engineers who do commerce then just work in the mines :S

 

[danielvh]

I'm doing econs/commerce at uwa and you can actually do up to 5 majors (which I will be doing)

 

[blakegman]

Engineering was the flava of choice last year, now its IB.

Anyone guess what it will be next year ?

 

[blakegman]

I'm doing econs/commerce at uwa and you can actually do up to 5 majors (which I will be doing)

5 majors holy shit.

 

[Studentleader]

5 majors holy shit.

5 majors > law i think?

 

[Rorix]

You will no longer be a human being, you will be an Investment Banker, whose purpose in life is to generate profits. You will begin to shed any performance hindering emotions and evolve such that the only pleasure you gain is through work, and so that your fears are only suppressed by long hours at the office. Every second spent sleeping, the market and your workload get ahead of you, so you adapt. You're getting 3 hours sleep a night, tormented by nightmares of recessions and downswings. Your eyes sting and your body is numb, but youve got money to make

the way i see it, its like disappearing into a void for 15 years and sacrificing every single aspect of your life for some extra cash and an earlier retirement, you really need to weigh up the pros and cons and consider whats important to you

but then again im not an investment banker, so i wouldnt really know for sure that my dramatisation is accurate

It's not accurate.

 

[geetarjoe]

It's not accurate.

Not even close.

 

[quixote studios]

imo it's like acting or sports really. hit it big, and you'll hit it BIG. bonuses for a hedge fund manager easily go into 7,8 figures, plus perks.

then again, most people get stuck in some middle level of a big firm, not high enough to get huge paychecks but not low enough to get away with doing a half assed job of it.

halcyon's on the mark about the personality evolution bit though. i actually feel sick when the market moves against me. oh, and get used to smoking and drinking regularly and heavily

 

[doink]

So it might be better to do it in Perth so i can do comm + econs with 4 majors.

I really dont want to do law if its just gonna be something i can stick on my resume and never use, its like the engineers who do commerce then just work in the mines :S

I'm doing Eng/Com, its much better than that, since most engineers don't work in mines and since a commerce degree helps you in alot more than just your career, helps you know how to invest/manage your money and helps you climb the corporate chain of engineering firms.

 

[Studentleader]

I'm doing Eng/Com, its much better than that, since most engineers don't work in mines and since a commerce degree helps you in alot more than just your career, helps you know how to invest/manage your money and helps you climb the corporate chain of engineering firms.

I was talking to an engineering who is just finihsing his honours with commerce, all he was doing was going to move up to the mines for engineering.

I'm from the country, and I really don't want to go back.

 

[velox]

Not even close.

'sif you would know. I trust the 08ers more than you.

 

[Studentleader]

If the 5 major thing works, it'd be fucking sexy to do

Quantative Economics
Finance (Investment)
Finance (Quantative)
Finance (Corprate)
Management

I'll ask my Careers advisor :s

Thing about UWA is though, its not a Actuary reconised school.

 

[danielvh]

If the 5 major thing works, it'd be fucking sexy to do

Quantative Economics
Finance (Investment)
Finance (Quantative)
Finance (Corprate)
Management

I'll ask my Careers advisor :s

Thing about UWA is though, its not a Actuary reconised school.

Substitute Economics for management (so you have 3rd year micro/macro) and you pretty much have the ultimate business set.

If you're interested, I'm doing:
- Economics
- Quantitative Economics
- Corporate Finance
- Management
- International Business Economics OR Asian Business (yet to decide)

 

[Studentleader]

Substitute Economics for management (so you have 3rd year micro/macro) and you pretty much have the ultimate business set.

If you're interested, I'm doing:
- Economics
- Quantitative Economics
- Corporate Finance
- Management
- International Business Economics OR Asian Business (yet to decide)

What are you doing after Uni?

Would 5 Majors > Uni of Melbourne B.Law/B.Comm?

EDIT: reading some of your threads your pretty much everything i wanna be in 3 years LOL <3

I wanna do mathsy business shit, hense the quantitive shiz

 

[danielvh]

What are you doing after Uni?

Would 5 Majors > Uni of Melbourne B.Law/B.Comm?

EDIT: reading some of your threads your pretty much everything i wanna be in 3 years LOL <3

I wanna do mathsy business shit, hense the quantitive shiz

My ideal job is management consulting for one of the large international firms such as Mckinsey or Bain etc. I wouldn't want to do IB at all. The work looks stressful and uninteresting to me (but that's just me of course).

I have no idea whether 5 majors is better than law/commerce. The reason why law is valued in the business world is that it shows that you're able to complete an academically challenging degree and have developed certain skills such as analytical skills and written/verbal skills. Decent marks in econs/commerce (distinction average +) would show the same things if presented to employers correctly in my opinion. Personally, I'm doing economics/commerce because I'm interested in a lot of different things in both fields. Originally I was doing Law/Commerce but found I had no interest in law.

Anyway, I'm off to sleep. Attending a seminar given by Vernon Smith (2002 winner of the Nobel Prize in Economics) at 7am tomorrow morning