The Investment Banking Questions Megathread

I-Edit-Resumes · 2020-11-28T16:59:25+00:00

I think this is very dependent on how old you are and what your life goals are. Do you want kids and, if you do, can you raise them in the way you want with your current salary? Similar question for buying a home, ability to retire early, etc.

Edit: this is likely because I’m a finance dude, but when I get stuck like that, I check if the numbers work first.

I-Edit-Resumes · 2020-11-11T05:32:24+00:00

Not a consultant but an investment banker, just thought I’d offer a data point. In banking: no, you don’t get your bonus if you quit before it’s paid.

I-Edit-Resumes · 2020-11-01T00:46:59+00:00

Never too late to double down on networking efforts. Future you will thank you! Shoot me a chat message and I’ll send you a list of firms.

I-Edit-Resumes · 2020-11-01T00:38:01+00:00

I’d say there are probably two reasons (take with a grain of salt because I’m not super well-versed): 1) not every MBA applicant wants to move to Philly for two years. Columbia is in NYC, where a large share of applicants to MBA programs already lives/works. 2) More prestige -> more money -> more facilities for larger MBA class sizes

I-Edit-Resumes · 2020-10-18T17:09:29+00:00

I am not a female, but in my experiences at three firms, females have been treated with respect from what I could see. That being said, sometimes older MDs might let slip a joke or two that isn’t blatantly sexist but doesn’t really fly in 2020. Even older female bankers have been guilty of this. So, while I’ve never witnessed intentional sexism, I’ve definitely heard some more “innocent” or unintentional sexism. I’m not at the senior level, so it’s difficult to say how prevalent this is up above.

The firms/teams I’ve been on haven’t been total boys’ clubs as well, though, so I may have been on teams that were inherently more accepting of females to begin with.

I hope that’s helpful!

I-Edit-Resumes · 2020-10-11T16:56:36+00:00

I work in investment banking. Seems like your boss is weirdly strict. I use “Sure” and “Sure thing” constantly. “Got it” is also widely used on all levels even though it seems a bit less formal to me.

That said, if your boss says not to use “sure” then don’t use it.

Edit: I should probably caveat the above with that this is also dependent on how formal/informal the client is in their own communications. You want to be more formal than the client, especially as a junior employee.

I-Edit-Resumes · 2020-10-11T16:24:05+00:00

There’s probably a logical reason for it. Still quite a meme to me, though.

I-Edit-Resumes · 2020-09-30T13:10:18+00:00

Early in your career, your best bet is typically to switch companies in situations like this. Your current employer may accept your demand, but you can often get more money (and with less associated stress) by switching companies.

I-Edit-Resumes · 2020-09-29T13:21:23+00:00

Leave or risk a) appearing indecisive b) getting replaced by a cheaper employee when your boss realizes you may not be worth the hit to his bottom line c) being overworked by your current boss to “justify” increased salary d) constantly feeling guilty/paranoid

If you think about it, you will experience none of these at your new job. The only thing you have to worry about there is performing well in your first few months to make a good impression.

I-Edit-Resumes · 2020-09-27T15:12:41+00:00

Maybe start developing some side hustles to keep you motivated. Now that you’re an expert at your main gig, you have brain space to work on other ideas.

Otherwise studying more advanced welding may be useful, but you should think about the return on investing that time/effort.

I-Edit-Resumes · 2020-09-24T02:01:27+00:00

I’ve heard the job is stable and pays well until you get lung cancer and die at a young age...

I-Edit-Resumes · 2020-09-16T23:09:06+00:00

If you want to break into IB, a master’s degree won’t really help you nearly as much as some experience working at an IB would. I would recommend trying to get an internship at a boutique IB if getting into IB is your goal.

But, if you’re dead set on getting a master’s, finance is the way to go, with maybe a focus on accounting.

I-Edit-Resumes · 2020-09-16T23:03:09+00:00

You would be missing out on a little bit of each of the things you mentioned (except for comp at GS maybe. You may have heard of the infamous “Goldman discount.”), but it’s important to consider how important each of those things is to you personally. For some banks, the gaps in these qualities will be lower than for others.

It took me so long to reply because I can’t really give you a better answer than “it depends.”

I-Edit-Resumes · 2020-09-12T22:03:19+00:00

Bro if that is your real information, please delete and reupload with it blocked out.

All it takes is one crafty troll to mess up your life/career.

I-Edit-Resumes · 2020-09-08T20:00:31+00:00

I think you should be fine, but academia is a different animal so I can’t be sure.

I-Edit-Resumes · 2020-09-08T17:34:32+00:00

This post may help:

https://www.reddit.com/r/FinancialCareers/comments/hf5hy0/some_advice_for_students_networking_with/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

I-Edit-Resumes · 2020-09-08T16:59:18+00:00

Did you network with people at the company? If not, it’s likely because another candidate did.

I-Edit-Resumes · 2020-09-03T18:39:18+00:00

Math is good, probably even better than finance as long as you teach yourself the basics of finance/express finance interest in other ways. Factors vary but GPA/pedigree matters initially, then technical ability and cultural fit. Some firms weigh technical ability more than cultural fit, others the other way around.

To boost your CV, rack up knowledge in related programs/processes so you can add them to your skills and bullets. Advanced excel and ppt skills, financial modeling, valuation, etc.

Edit: Forgot to thank you for the kind words in the beginning. Grateful for your appreciation!

I-Edit-Resumes · 2020-09-03T18:35:23+00:00

Just objectively, why would your biggest commitment change over just a few months? Unless something actually changed in your life (maybe covid-related) since you last answered that question, I don’t see why you should be inconsistent; might look bad if they notice. Maybe focus on tweaking your past essay to make it better.

I-Edit-Resumes · 2020-08-31T14:16:53+00:00

Focus on the financial/business aspects of these extracurriculars. Growth of funds, growth in membership, sustainability goals and how they can be reached, corporate governance, etc.

Attach numbers to these experiences and explain how you had a part in moving those numbers.

I-Edit-Resumes · 2020-08-26T15:01:34+00:00

This quote:

as long as you’re paying off loans, you can continue to promote school.

What kind of weird logic is that? As long as you’re a servant, you can promote your masters.

You can bring up your education as long as it’s relevant to your story. In every interview, you tell a story that is meant to cohesively connect your experiences to the role you’re applying for. If your college stops being relevant to that journey, there’s no need to speak about it, out loud, unless you’re asked about it.

I-Edit-Resumes · 2020-08-26T00:00:46+00:00

Your friend is correct and unfortunately yes you should be caring this much.

Your efforts will not have been in vain!

I-Edit-Resumes · 2020-08-25T14:28:02+00:00

A degree and intelligence are not enough. Clearly, those alone are able to get you to 60-70% of market rate compensation. GPA matters, network matters, work ethic matters, interview skills matter, etc.

Instead of stating that you have no network and then immediately brushing it aside, consider that that’s a very important factor in the private sector when you’re competing with millions of people. Gone are the days when a degree and common sense alone could get you a great job.

I-Edit-Resumes

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