4 answers
Zach
Student
Hudsonville, Michigan
1
Question
Asked
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What is your experience inside of or around investment banking?
Heavily considering a life on Wall Street and have been researching the benefits and the costs. Would love to hear your perspective, big or small!
#finance #investment-banking #investment-management
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4 answers
Sierra Medley, MBA
Associate
1
Answer
St. Louis, MO
Updated
Sierra’s Answer
Hi Zach,
I previously worked at an investment firm and held both a Series 7 & Series 66. During my time at the firm, I worked in the operations and finance divisions. But I do remember the traders having 4-6 monitors and not being able to leave their desk until the market closed. If you are thinking of being a financial advisor you will want to be comfortable going door to door to build your portfolio and maybe cold calling. It could be a lucrative career, but expect to put in a lot of hours. I would recommend looking into the Securities Industry Essential (SIE) exam. You do not need firm sponsorship to take this exam and it gets you one step closer to being eligible to sit for the Series 7 exam.
Best of Luck. Hope you find this helpful!
I previously worked at an investment firm and held both a Series 7 & Series 66. During my time at the firm, I worked in the operations and finance divisions. But I do remember the traders having 4-6 monitors and not being able to leave their desk until the market closed. If you are thinking of being a financial advisor you will want to be comfortable going door to door to build your portfolio and maybe cold calling. It could be a lucrative career, but expect to put in a lot of hours. I would recommend looking into the Securities Industry Essential (SIE) exam. You do not need firm sponsorship to take this exam and it gets you one step closer to being eligible to sit for the Series 7 exam.
Best of Luck. Hope you find this helpful!
Sundar Krishnan
4
Answers
Singapore
Updated
Sundar’s Answer
Investment banking is not for the faint hearted. Hours are long and often intense; the environment is demanding and burnout does happen regularly. That said, you learn a lot in the first few years and if you don't burn out you can use the experience gained in another organization or industry often for more money.
Garrett Gollehon
AML Analyst at PricewaterhouseCoopers - Service Delivery Center (PwC SDC)
13
Answers
Columbia, South Carolina
Updated
Garrett’s Answer
Hi Zach,
One of my closest friends is an investment banker in Cleveland, OH, from what he tells me:
1) The hours suck, he's working 10-12 hours per day minimum
2) The pay sucks, while he is making more than I am, his implicit hourly rate is lower than mine
3) If you stick with it long enough and are performing at a high level, you will be compensated for it with higher salary and better hours.
--- it is getting there is the trick
Hope this helps.
One of my closest friends is an investment banker in Cleveland, OH, from what he tells me:
1) The hours suck, he's working 10-12 hours per day minimum
2) The pay sucks, while he is making more than I am, his implicit hourly rate is lower than mine
3) If you stick with it long enough and are performing at a high level, you will be compensated for it with higher salary and better hours.
--- it is getting there is the trick
Hope this helps.
TJ Radigan
Business Analyst at McKinsey & Company
5
Answers
New York, New York
Updated
TJ’s Answer
Hi Zach,
I'm not an investment banker but I heavily considered it upon graduating from college. I would highly recommend tracking down and reading the book "Vault Guide to Investment Banking" - it gives a very comprehensive overview of what the job entails and whether it may be a good fit for you.
As Garrett mentioned above, hours are very long and pay is very high.
TJ
I'm not an investment banker but I heavily considered it upon graduating from college. I would highly recommend tracking down and reading the book "Vault Guide to Investment Banking" - it gives a very comprehensive overview of what the job entails and whether it may be a good fit for you.
As Garrett mentioned above, hours are very long and pay is very high.
TJ