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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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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.

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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.