Investment banking interview questions

[Syringer]

So we give [recruits] a chance to talk, to tell us what they've been taught." Even so, expect a few questions to include some numbers such as, "How many hours are in a week?" and "What would you say if I told you that you'd be working on average almost 120 of them?" (Answers: 168 and "Sounds good.")

:Q

48 remaning hours a week to sleep, commute, masturbate, etc..

 

[DaWhim]

doesn't mean you can't do that while at work.

 

[Specop 007]

Work 120 hours a week??

Yeah, not my line of work.

 

[AccruedExpenditure]

i-banking is not for me.
What should I do with these contacts from Citigroup and JPM... you want em?

 

[drsafety]

Yup. They earn a lot of $ for a reason.

Is it worth it? For a select few, apparently. I have one friend in NYC who does this.

 

[sundev]

Are you saying that you'll be working over 17 hours a day, 7 days a week?

 

[xospec1alk]

Originally posted by: drsafety
Yup. They earn a lot of $ for a reason.

Is it worth it? For a select few, apparently. I have one friend in NYC who does this.

i think the salary is low, but the bonus makes up for it or something...

 

[GeneValgene]

Originally posted by: xospec1alk

Originally posted by: drsafety
Yup. They earn a lot of $ for a reason.

Is it worth it? For a select few, apparently. I have one friend in NYC who does this.

i think the salary is low, but the bonus makes up for it or something...

yep...i knew a first year analyst at goldman sachs...starting salary of 55K, but his bonus was about 50K

 

[Syringer]

Originally posted by: AccruedExpenditure
i-banking is not for me.
What should I do with these contacts from Citigroup and JPM... you want em?

 

[sohcrates]

one of my cousins did investment banking in california, i think he was making several hundred K, but was working over 100 hours a week. it nearly killed him, he drank a lot, and quit after 2 years. sounds like fun

 

[dr150]

Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

 

[BlueWeasel]

Originally posted by: xospec1alk

Originally posted by: drsafety
Yup. They earn a lot of $ for a reason.

Is it worth it? For a select few, apparently. I have one friend in NYC who does this.

i think the salary is low, but the bonus makes up for it or something...

Another thing to consider is they aren't spending anything on entertainment, computers, movies, or anything else for that matter. If I was working on average, 17 hours per day, 7 days a week, all I'd want to do is to go home and hit the sack.

 

[Syringer]

Originally posted by: dr150
Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

You learn a LOT as an analyst..particularly in building model books that are as thick as phonebooks..some start with a completley blank Excel sheet.

You're clearly not just photocopying and faxing things 18 hours a day. Some analysts even have their own "secretaries" to do such tedious things.

Companies would jump at the opportunity to hire an ibanker because they know that they're extremely smart, hardworking, knowledgable in finance, and have an incredible amount of attention to detail. One error in a phonebook sized report is considered grave.

2-3 years in ibanking at a reputable company is nearly a guarenteed ticket to a top biz school.

 

[Reggae4k]

average bonus on wall street for ibankers is 100k

 

[Syringer]

Originally posted by: Reggae4k
average bonus on wall street for ibankers is 100k

Including mangers and VPs..for an entry level analyst position..not so much.

 

[AccruedExpenditure]

Originally posted by: Syringer

Originally posted by: dr150
Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

You learn a LOT as an analyst..particularly in building model books that are as thick as phonebooks..some start with a completley blank Excel sheet.

You're clearly not just photocopying and faxing things 18 hours a day. Some analysts even have their own "secretaries" to do such tedious things.

Companies would jump at the opportunity to hire an ibanker because they know that they're extremely smart, hardworking, knowledgable in finance, and have an incredible amount of attention to detail. One error in a phonebook sized report is considered grave.

2-3 years in ibanking at a reputable company is nearly a guarenteed ticket to a top biz school.

Don't count on it.

 

[iwantanewcomputer]

Originally posted by: Syringer

So we give [recruits] a chance to talk, to tell us what they've been taught." Even so, expect a few questions to include some numbers such as, "How many hours are in a week?" and "What would you say if I told you that you'd be working on average almost 120 of them?" (Answers: 168 and "Sounds good.")

:Q

48 remaning hours a week to sleep, commute, masturbate, etc..

leave out the commute and you can do the others while working=48 hours of free time

 

[SuepaFly]

That's partially true. My fiance did it for 4 years, and yes, 17 hours a day 7 days a week. It doesn't pay off that well. But as early as 2 years you can go to a Private Equity or a hedge fund (if you have shown any promise during those 2 years) and make 250,000+ a year. It's a building base. Most do not go back and get an MBA unless they are looking to switch careers. 2 years to dedicate to make a quarter million plus per year is not bad. Some people work 40 hours a week for 5 years to get anywhere. This is just accelerating it.

Bankers party hard during the weekends. Get off work at 10pm, go out and get stupid drunk. That's their entertainment.

 

[Syringer]

Originally posted by: AccruedExpenditure

Originally posted by: Syringer

Originally posted by: dr150
Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

You learn a LOT as an analyst..particularly in building model books that are as thick as phonebooks..some start with a completley blank Excel sheet.

You're clearly not just photocopying and faxing things 18 hours a day. Some analysts even have their own "secretaries" to do such tedious things.

Companies would jump at the opportunity to hire an ibanker because they know that they're extremely smart, hardworking, knowledgable in finance, and have an incredible amount of attention to detail. One error in a phonebook sized report is considered grave.

2-3 years in ibanking at a reputable company is nearly a guarenteed ticket to a top biz school.

Don't count on it.

Your replies make no sense at all. Don't count on what?

 

[Slew Foot]

"Do you like money? Yes? Good!"

 

[imthebadguy]

yeah, its hard work, but i think its a good two year experience which will lead to good future careers

 

[Alkesh]

Originally posted by: Syringer

Originally posted by: AccruedExpenditure

Originally posted by: Syringer

Originally posted by: dr150
Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

You learn a LOT as an analyst..particularly in building model books that are as thick as phonebooks..some start with a completley blank Excel sheet.

You're clearly not just photocopying and faxing things 18 hours a day. Some analysts even have their own "secretaries" to do such tedious things.

Companies would jump at the opportunity to hire an ibanker because they know that they're extremely smart, hardworking, knowledgable in finance, and have an incredible amount of attention to detail. One error in a phonebook sized report is considered grave.

2-3 years in ibanking at a reputable company is nearly a guarenteed ticket to a top biz school.

Don't count on it.

Your replies make no sense at all. Don't count on what?

Don't count on him being around during those 48 hours because his wife won't let him out of the house.

 

[AmigaMan]

what the hell do investment bankers do anyways? As a former programmer in the banking industry, I always thought ibanking==internet banking. DUH... Anyways I'm curious as to what consumes 17 hours out of a day?

 

[Ameesh]

Originally posted by: Syringer

Originally posted by: dr150
Divide the number of hours by your compensation. It amounts to you working to medicore paying jobs. Thus, for analyst job straight out of college it's a major rip-off. Plus, you learn few tangible skills....all you do is photcopy and fax all day long.

The payoff in IB for those looong hours comes after the MBA when the bonus outstrips the salary by a very good margin.

All in all, you trade your soul and youth away (which you never get back). Many lemmings enter only to quit from exhaustion/stress in a couple of years without ever making it.

You learn a LOT as an analyst..particularly in building model books that are as thick as phonebooks..some start with a completley blank Excel sheet.

You're clearly not just photocopying and faxing things 18 hours a day. Some analysts even have their own "secretaries" to do such tedious things.

Companies would jump at the opportunity to hire an ibanker because they know that they're extremely smart, hardworking, knowledgable in finance, and have an incredible amount of attention to detail. One error in a phonebook sized report is considered grave.

2-3 years in ibanking at a reputable company is nearly a guarenteed ticket to a top biz school.

this is not true

 

[GeneValgene]

Originally posted by: AmigaMan
what the hell do investment bankers do anyways? As a former programmer in the banking industry, I always thought ibanking==internet banking. DUH... Anyways I'm curious as to what consumes 17 hours out of a day?

wikipedia is your friend