Trading or Investment Banking

Quote from Lights:

at wharton biz school, trading careers are typically shunned and avoided like the plague cos it's about true talent, and not work (overachieving, brown-nosing). one important thing to understand is anytime this college grad fails, it has nothing to do with him and everything to do with everything else. i'm assuming you're refering to the real world jobs right out of college. trading and investment banking are two completely different things. one requires ability. the other is modern day slavery.
More...

I disgree. I was there and trading was not shunned.
 
"sales and trading" is not what i was refering to.. sorry you misunderstood.

Quote from nicholaf:

well, yes for prop shops, but not sales and trading, hedge funds, etc.
More...
 
Quote from dac8555:

something that i would make sure to stress to you..on top of grades and a good school...is PERSONALITY MATTERS. i mean it matters a lot. what the business world boils down to to some degree is who likes you and why. I know traders at very large places in NYC pulling in up to $2,000,000 per year. Last time i was in NYC at an IDB...i met the team of the emerging markets desk...nice guys..i was really impressed. I asked the usual questions...where are you from, what are your backgrounds...whatever. the top guy just went to some local school...another went to a small college in jersey, two guys were ivy leage..and a few others from well known schools, one was marine corp recon. The primary constant among them was the following:
1. nice guys that you can get along with...they chat shoot the bull, and can keep a conversation going.
2. Sincere. they didnt pretend to be anyone they werent or didnt act like they were special. they had kids and families..and that was their priority.
3. sharp and focused. when they traded, they were in another world. could turn it on and off like a switch.
4. Were all REFERRED by friends at other firm to work there. all of them were there becacuse somebody made a phone call on their behalf. remember that.

they are just regular guys like you and me..no matter what firm it is. they are sharper than your average house cat...but all in all, it doesnt take god like status to get to where you want to go.
More...


Point taken. All the successful traders I've met are very nice guys with senses of humor. I agree with you that personality is an important factor.
 
Quote from aPismoClam:

investment banking is for pussies. but they'll make a half a million a year plus equity.
More...

<5% of the first level entrants get to that point after at the very least 5 years.

Obviously most here have no real clue about IB statictics as of AFTER the bubble. It's not what it's hyped up to be. Those days are over, expect McDonalds manager hourly wages for more hours than your body can handle.

If you're gonna get into it, go in for the experience that gets your into a good MBA program or go in to give up a decade of your life in order to advance in the I-Bank world. To make it above the VP level requires heavy sacrifices and only those that fully accept it & understand it head on make it to that level.
 
Quote from dac8555:

If you work really hard, you can be a good IB guy. But, if you work really hard, there is no guarantee that you will be a good trader. just study your butt off at a good school, get really good grades in math, finance or the like, and try to make contacts at top firms. you'll have a better chance to decide and control these things later on. right now, it isnt something that you have much control over. for now...shag as many hot college girls as possible...they just go downhill from here!
More...

See, you'll want to go into IB because as you can see many traders act like a bunch of filty, dirty animals. Bankers at least are somewhat civilized. Would you want to hang around with a bunch of gorillas?
 
11-01-05 08:09 PM



--------------------------------------------------------------------------------
Quote from aPismoClam:

investment banking is for pussies. but they'll make a half a million a year plus equity.
--------------------------------------------------------------------------------



Haha, I agree. Actually one of my favorite quotes about investment bankers vs. traders comes from FIASCO by Frank Partnoy:

"Investment bankers are conservative, cultured, slow-moving men (and a few women) who advise corporate executives about which country clubs they should join; their favorite phrase is 'How extremely interesting.' Salesmen and traders are wild, cunning, aboriginal creatures who advise money managers about deceiving their bosses and finding new strip bars; their favorite phrase is, 'Fuck you.'"


I agree with totally, and no I have never lied to you. And quite frankly sir, I have a rare diabetic condition that causes my body to expel glucose through my sweat glands. In no way, shape, or form have I "recently" been in a "sleazy" strip club as you so nonchalantly put it... ...So Fuck You.
 
Anyone considering becoming an investment banker needs to watch American Psycho, its a great look at who and what these people are and do.
 
Quote from Hydroblunt:

<5% of the first level entrants get to that point after at the very least 5 years.

Obviously most here have no real clue about IB statictics as of AFTER the bubble. It's not what it's hyped up to be. Those days are over, expect McDonalds manager hourly wages for more hours than your body can handle.

If you're gonna get into it, go in for the experience that gets your into a good MBA program or go in to give up a decade of your life in order to advance in the I-Bank world...
More...
or go in because it's going to look good on your resume. Seriously. That's how you will get your next job.

Besides of investment classics like Liar's poker and such, read "Fooled by randomness" by Nicholas Taleb. It will give you a different insight on how the i-bank world operates. I can subscribe to most of the author comments as I experienced the situations he describes myself.
 
You must log in or register to reply here.
Back
Top