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Originally Posted by catchm3ifyoucann
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Originally Posted by imserious
You gave a lot of good advice, but I don't agree on the car comment. Most people go into IB to be a baller. So wearing expensive suits, buying expensive cars and eating expensive food is part of why you are doing IB in the first place.
But, many find that IB isn't for them. The sacrifices they make just to make MORE money don't end up being worth it. I had a friend who went into IB for the heck of it, made a lot of money, but absolutely hated it. He said he worked so much that he didn't have time to spend money! Once he spent nearly an entire day in the room with lawyers arguing about a specific word. He quit, went back to med school and is now an anesthesiologist. He's still a baller, but doing something that is far more fulfilling. That said, it seems to be a good place to spend 2 years and then figure out what you really want to do.
IB and management consulting are both great starter jobs. Few are lifers.
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My main reasoning for the car comment was that could have been money spent elsewhere for instance continuing his education, or using it to pay off his student loans. I completely understand people go into IB because they love the lifestyle, but I am a firm believer that everything has its own time and place, and one simply can't skip step A and go straight to C. Maybe I'm different but I don't like to live a lifestyle on credit, thats why people get into situations they never should have to begin with.
The biggest issue people have with IB hence why so many end up leaving is that they just don't understand work that is required. Everyone wants to wear the $3,000 - $5000 suits, $1000+ watches, and drive $100,000 cars, but they don't understand just how much work is required to get to that point. As cliche as it sounds and I don't want to get preachy, but success doesn't happen overnight.
With that said spending 1-2 years in IB is great as you mentioned to figure out what you want to do, because if you do end up leaving there isn't a single company where you application wouldn't be given serious thought. |
Umm... He's a sophomore driving a BMW at a school in Texas, let's connect the dots on whether or not he paid for the car
I like that you are being scrappy OP, I sent your resume to 2 buddies that run boutique banks (after my pontificating about going for a name brand), we'll see if any are still searching for interns for next summer.
