Opinion of Investment Bankers?

[RR1997]

Lean FF's. I know most IB's act a bit snobbish, greedy, etc., but IB is something I'd love to get into, mostly because of my interest in finance (the thought of assisting companies in mergers and acquisitions excites me) and the money (I know that investment banks are going crazy over hiring engineering majors, which I plan to major in, so that gives me hope), so I'm obligated to say that they're FF's. Even though they do make a lot, you guys also have to remember how long they work (80-90 hour work weeks). Plus it's silly to generalize a whole profession.

How 'bout you guys?

[Maxwell]

I'm not sure you are going to like the responses here, so let me save you some time and be like

Guillotine pic here

[Murica!]

Firing squads call for them.

[TNF]

Parasites, scum of the earth, etc

[ElectionsGuy]

Mostly scum, generalizing.

[RR1997]

I wonder who'd win in a poll between investment bankers and cops on this forum

[Murica!]

I wonder who'd win in a poll between investment bankers and cops on this forum

Cops

[ElectionsGuy]

I wonder who'd win in a poll between investment bankers and cops on this forum

Cops

[bedstuy]

I know a few investment bankers.  I think they have a boring, stressful job.  It's the worst of all worlds, inhuman, abstract, soulless and in service of the rich and powerful above all.  They also generally work insanely long hours in a tough environment.  Sure, money is nice, but if you're working 90 or 100 hours a week, you can't enjoy your life.  And, ultimately, that's the point of money, money helps you enjoy your life.  You don't want to have it just to have it.  This is to say nothing of the impact of big investment banks on the world which has been catastrophic in recent years. 

And, a word of advice for anyone who thinks making a lot of money is the goal of your career.  That's stupid.  The world is competitive and if you pick a career just from the average salary, you're making a huge mistake.  If you don't like your job, you're not going to succeed.  Someone who actually likes I-banking will work longer hours and be better at it.  So, you're cheating yourself.  Do what makes you happy and what wouldn't be depressing for you if you were at the office at 1am.

[Clarko95 📚💰📈]

The financial crisis of 2008 has put a very bad taste in my mouth regarding the financial industry. I would never work in it or want to be associated with it. It's part of the reason that I would prefer to be engaged in non-profit accounting or traditional international business as a CMA in the future.


Mega HPs. Agree with the calls for guillotines and firing squads, etc.

[Indy Texas]

Lean FF's. I know most IB's act a bit snobbish, greedy, etc., but IB is something I'd love to get into, mostly because of my interest in finance (the though of assisting companies in mergers and acquisitions excites me) and the money (I know that investment banks are going crazy over hiring engineering majors, which I plan to major in, so that gives me hope), so I'm obligated to say that they're FF's. Even though they do make a lot, you guys also have to remember how long they work (80-90 hour work weeks). Plus it's silly to generalize a whole profession.

How 'bout you guys?

So what is the appeal? If you want to major in engineering, why wouldn't you just...be an engineer? You'd make comparable money and work half as much. Investment banking has a very high burnout rate precisely because of the 80-90 hour weeks. You're going to be an analyst for 4-5 years and then you're either going to get promoted and stay on the crazy train or you're going to have to go do something else.

I realize that sounds thrilling to a teenager but you're not going to like being at work from dawn till past dark when you're 40 and married with kids. There's a reason so many of those guys go through at least two or three wives during their lifetimes.

[RR1997]

The financial crisis of 2008 has put a very bad taste in my mouth regarding the financial industry. I would never work in it or want to be associated with it. It's part of the reason that I would prefer to be engaged in non-profit accounting or traditional international business as a CMA in the future.


Mega HPs. Agree with the calls for guillotines and firing squads, etc.

Although to be fair, when people talk about how the investment bankers caused the Crisis, they refer to the investment banking MD's (managing directors), the highest position in investment banks, not the analysts or associates. I've read somewhere that only like 5% of people who go into investment banking ever make it to the MD stage, so again it's silly to generalize.

Also, Kasich was a former investment banker. If I become an investment banker (which I most likely won't, but it's possible), and for some crazy reason you guys get the guillotine and firing squads going for the bankers, can I be exempt? Would you ever do such a thing to a fellow Atlas poster?

Also: FF is doing a lot better than I thought it would. HP is only winning by 1 vote (I know only 11 people voted, but still)!? All of the people who posted on this thread have a negative opinion towards them, so will the people who voted FF come out?

[BaconBacon96]

Lean HP. Of course not all of them are bad people but they're often closely involved in causing little things called recessions.

[Attorney General, LGC Speaker, and Former PPT Dwarven Dragon]

HP

[Clarko95 📚💰📈]

The financial crisis of 2008 has put a very bad taste in my mouth regarding the financial industry. I would never work in it or want to be associated with it. It's part of the reason that I would prefer to be engaged in non-profit accounting or traditional international business as a CMA in the future.


Mega HPs. Agree with the calls for guillotines and firing squads, etc.

Although to be fair, when people talk about how the investment bankers caused the Crisis, they refer to the investment banking MD's (managing directors), the highest position in investment banks, not the analysts or associates. I've read somewhere that only like 5% of people who go into investment banking ever make it to the MD stage, so again it's silly to generalize.

Still, I feel I would be an enabling cog in an evil machine, even if I was not directly a part of it. Maybe my views will soften in the future, but for now my exposure to literature and media that has been highly critical of them, as well as understanding the financial sector's undue influence in politics, has turned me very much against them.

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Alas, you went over to the dark side What else could we do? I'd lobby on your behalf, but knowing how the Atlas is, I think the best I could do would be 30 years hard labor

[Sprouts Farmers Market ✘]

HPs. Majorly. I'm a finance/econ major, and basically everyone I know is working on Wall Street. I don't intend to work 90 hour weeks, and I don't intend to associate with anyone in IB or S+T if I can help it (which I likely can't).

[SPC]

Sources of credit perform a vital role in the economy. They should not be demonized as a whole simply because of artificial credit expansion, no more than guns should be blamed for mass shootings.

[DC Al Fine]

I spent a year working at a company that provided accounting services to hedge funds, pension plans and the like. During that time, I got to have a fair amount of contact with (mostly very junior) investment bankers. As some alluded to, the 80-90 hour works weeks burn a lot of people out. The survivors made choices to put aside family life and work-life balance in pursuit of money. I don't know whether those people were like that naturally or whether the lifestyle they led made them like this, but the investment bankers I met tended to be jerks.

The industry itself fills a necessary economic function to some extent, but the nature of the work is very stressful and you're co-workers will be bad. RR1997 I strongly advise you against going into a field that requires obscene hours. Working 60 hrs a week in tax season puts enough stress on your home life. I can't imagine doing 80hrs+ all the time.