What is investment banking? (2 Viewers)

[Drifting95]

http://www.wallstreetoasis.com

^another good site for finance wannabies.

Yeah, that's not bad either. Hearing some of the hours the guys on the forum work is amazing.

 

[Omnidragon]

Nothing amazing. Been there, done that. Left a long time ago.

Great career for risk averse people who've given up becoming anything significant though.

 

[iBibah]

Nothing amazing. Been there, done that. Left a long time ago.

Great career for risk averse people who've given up becoming anything significant though.

What do you do?

 

[Newbie]

supp homies
waiting for my analyst to finish the book so i can check and send it out...fml

the investment banking pathway to becoming a cash money hero:
1. Insider trading
2. Meet CEO's and their hot daughters and marry them
3. Start some side business with dodgy rich people you meet in indonesia

 

[Newbie]

fat resume book on my desk again - heres what bankers look for

Final round interview competencies:
Business knowledge
Analytical Ability
Energy and Drive
Communication
Collaboration
Courage

 

[Drifting95]

fat resume book on my desk again - heres what bankers look for

Final round interview competencies:
Business knowledge
Analytical Ability
Energy and Drive
Communication
Collaboration
Courage

Did it take you the regular 3 years to become an associate? Also, how much are you currently on? Personal question i know \ but its fine if you don't want to share, or pm me if you want.

 

[seremify007]

Is this really a good place to be as we move into a world financial crisis'

I personally think the direction the world is headed with the anti bankers mantra, IB will become less well paid and less glamorous (e.g. refer to European salary cap on bankers). That being said, those technical skills, personality traits and strong relationships will be utilised elsewhere and in order to attract talent, those areas will need to offer equally good compensation packages. Wealth management will be the next IB in the war on talent and money.

 

[Bobbo1]

hey serimify, what kind of uni degrees/skills are required for wealth management?

 

[Newbie]

banking is pretty fked, bonus is about 50-70% of what it was in the good times?

yes 3 years to associate, i dunno what bonus i will get, i make 150k salary. would be happy with another 100-120 bonus? could be less, could be fired tomorrow, who knows. 5 years ago i would have expected 200+. so this is poverty, relatively speaking.

wealth management? no. IB will still be the best paid "working class". just that the overall level is so low that the work/life equation isnt making any sense and the really smart people are more attracted to silicon valley.

 

[EpikHigh]

Newbie, what degree(s) did you do in uni? Sorry if you answered this already, but I can't find it.

 

[Newbie]

com law unsw

 

[Omnidragon]

banking is pretty fked, bonus is about 50-70% of what it was in the good times?

yes 3 years to associate, i dunno what bonus i will get, i make 150k salary. would be happy with another 100-120 bonus? could be less, could be fired tomorrow, who knows. 5 years ago i would have expected 200+. so this is poverty, relatively speaking.

wealth management? no. IB will still be the best paid "working class". just that the overall level is so low that the work/life equation isnt making any sense and the really smart people are more attracted to silicon valley.

Haha nothing will make more money than IB in all the conventional tyre kicking jobs we're talking about. But it is still well down. 150k sounds a bit low, but is probably right enough that it's within a big ballpark range. I was on more than that in 2010 and I remember we graduated around same time? Maybe it's the currency.

Plenty of other ways to make money though. I just made a couple hundred k by investing in something these 2 months, of course I haven't realised it but no matter how I stack the numbers that's the minimum.

 

[Newbie]

life is tough
i need another 2010 in the equity markets, im ready to go all in.
really want to buy an r8, ironman incepted me hard

 

[Omnidragon]

One punt and you could be done if you have around $500k saved up.

Won't be in property though. I've been meaning to go back permanently all these years but just couldn't bring myself to liquidate assets here and shift over there, especially with the way things are going there. Was looking at Soho last month and prices have reached $15000/sq ft+ for unrenovated "tong laus". Bar currency I still see more upside in Syd/Melb. Perhaps in a correction I'll shift there big time.

 

[Spiritual Being]

One punt and you could be done if you have around $500k saved up.

Won't be in property though. I've been meaning to go back permanently all these years but just couldn't bring myself to liquidate assets here and shift over there, especially with the way things are going there. Was looking at Soho last month and prices have reached $15000/sq ft+ for unrenovated "tong laus". Bar currency I still see more upside in Syd/Melb. Perhaps in a correction I'll shift there big time.

interesting

 

[Omnipotence]

http://en.wikipedia.org/wiki/Nathan_Tinkler

This is baller.

Failing that.

http://www.nathanbirch.com.au/

The next time someone thinks they've made it because they got an internship at UBS or GS, let me know so I can laugh at them.

lol nathan tinkler

 

[Drifting95]

One punt and you could be done if you have around $500k saved up.

Won't be in property though. I've been meaning to go back permanently all these years but just couldn't bring myself to liquidate assets here and shift over there, especially with the way things are going there. Was looking at Soho last month and prices have reached $15000/sq ft+ for unrenovated "tong laus". Bar currency I still see more upside in Syd/Melb. Perhaps in a correction I'll shift there big time.

What do you actually do?, curious.

 

[Spiritual Being]

What do you actually do?, curious.

he is

the devil

 

[Omnidragon]

The devil is Santa's friend

Tinkler may be falling now, but is probably still richer than the everyone's future bosses on this thread combined.