I want to become an investment banker

[halik]

Originally posted by: Albis
no way you do 20-25 interviews

with a BBA from michigan, most ppl i know only had two rounds of interviews

first on campus and next in the office.

I had two rounds of interviews @ GS, the second one lasting 8 hrs with 10 different people. They do break it up though. Usually they do paired up interviews.

 

[Reggae4k]

requirements: top tier education in any respectable subject with at least a 3.7 GPA, ability to work long hours 15+ hours a day, you must be young because most IB firms have a structure in which they promote and hire new candidates every 2-3 years, impecable attention to detail, etc. there are literally so many things to list and the list weeds out 99.9% of the population.

how do i know? i work with them.

i'll give you an example of a typical candidate here.

22 years old, just graduated from trinity college with a 3.8 GPA in economics.
the return? split with other executives of 25% of revenue for the year. yes, revenue.
the IB portion of the dept here create transactions of between $10 - $20 million per year.

 

[KarmaPolice]

So you and reggae here both went to Ivy league schools..got a 3.7gpa..and are now Ibankers?

 

[Reggae4k]

if i was an IB, would i be wasting my time posting here?

i work with them, i am not one of them.

 

[KarmaPolice]

Originally posted by: Reggae4k
if i was an IB, would i be wasting my time posting here?

i work with them, i am not one of them.

what do u do?

 

[Reggae4k]

financial analyst

 

[KarmaPolice]

so lets say you were succesful in other areas of finance...Ibanking is such that unless you start in it young..they arnt gonna let you in?

 

[GeneValgene]

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

 

[JS80]

Originally posted by: KarmaPolice

Originally posted by: JS80

Originally posted by: KarmaPolice
I am on the 5 year college graduate corse and am transfering to Temple U. next semester. I always have a good GPA of about 3.6....I think the school is ranked 60 something for its business program in the world.

Good start?

No, still way behind typical candidate.

hrmmm thats good to know...makes me feel good.

No that means either 1) you should take steps now and learn what it takes to qualify or 2) realize i-banking is not for 99% of the population and it's not as glamorous as Oliver Stone portrays it in Wall Street.

 

[JS80]

Originally posted by: GeneValgene

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

Getting a position in PE or a hedge fund is even harder than getting into bulge bracket ibank out of undergrad. Usually you do your 2 year program at the i-bank and then go to a PE shop or hedge fund. or get your mba.

 

[Reggae4k]

Originally posted by: JS80

Originally posted by: GeneValgene

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

Getting a position in PE or a hedge fund is even harder than getting into bulge bracket ibank out of undergrad. Usually you do your 2 year program at the i-bank and then go to a PE shop or hedge fund. or get your mba.

actually, i feel the IBankers get into Private Equity or Hedge Funds so they can start living their lives and having a family because it doesnt require 80 hours a week.

 

[JS80]

Originally posted by: Reggae4k

Originally posted by: JS80

Originally posted by: GeneValgene

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

Getting a position in PE or a hedge fund is even harder than getting into bulge bracket ibank out of undergrad. Usually you do your 2 year program at the i-bank and then go to a PE shop or hedge fund. or get your mba.

actually, i feel the IBankers get into Private Equity or Hedge Funds is because they want to start living their lives and having a family because it doesnt require 80 hours a week.

exactly. You put in your 100 hours/week for 2 years and you're rewarded with a 60 hour/week job.

 

[KarmaPolice]

Originally posted by: JS80

Originally posted by: Reggae4k

Originally posted by: JS80

Originally posted by: GeneValgene

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

Getting a position in PE or a hedge fund is even harder than getting into bulge bracket ibank out of undergrad. Usually you do your 2 year program at the i-bank and then go to a PE shop or hedge fund. or get your mba.

actually, i feel the IBankers get into Private Equity or Hedge Funds is because they want to start living their lives and having a family because it doesnt require 80 hours a week.

exactly. You put in your 100 hours/week for 2 years and you're rewarded with a 60 hour/week job.

I mean I plan to go to grad school after I graduate if I cant find a good job right out of school. an MBA is a must eventually?

 

[Reggae4k]

Originally posted by: JS80

Originally posted by: Reggae4k

Originally posted by: JS80

Originally posted by: GeneValgene

Originally posted by: KarmaPolice

Originally posted by: platinumike
Im suprised at all theese responses. I know ATOT people are usually pretty rigid, but it seems all of you are spewing out some tough to meet requirements. What about other positions in finance, like a financial analyst, stock broker,etc. Are all the alternatives just as tough as investment banking?

the way everyoen says is that if you dont have a A at an IVY league school..dont even try to go into finance...

not true...just keep a high GPA, and impress at the interviews, and get good internships...

of course it always helps to have a degree from wharton, kellogg, HBS, etc...but not necessary. big banks always recruit at those schools. the alumni connection helps too

there are plenty of finance jobs outside of IB...private equity and hedge funds for example. there are a lot of smaller specialty and boutique IB firms too.

Getting a position in PE or a hedge fund is even harder than getting into bulge bracket ibank out of undergrad. Usually you do your 2 year program at the i-bank and then go to a PE shop or hedge fund. or get your mba.

actually, i feel the IBankers get into Private Equity or Hedge Funds is because they want to start living their lives and having a family because it doesnt require 80 hours a week.

exactly. You put in your 100 hours/week for 2 years and you're rewarded with a 60 hour/week job.

you are right, and when they work for a PE fund or Hedge Fund, its not so much that they work with these Funds, its more along the lines of running the Funds. these guys are now gifted enough that investors trust millions of dollars with them. after a MBA of course.