| Topic Name: |
Should I leave consulting for IB |
| Message Name: |
Firm and Group |
| Date Posted: |
01/25/2001 |
| In Reply To: |
Hey,
If you plan to pursue investment banking as your permament career, then you should definitely work in banking prior to b-school. It is much more difficult to secure an associate position after b-school without any IB experience. The same follows for summer associate positions, which are probably even more competitive than fulltime positions.
If money ($86k) is an issue, you will earn more in your first year you tally in the bonus. All the money in the world, however, isn't enough to compensate you for some of the bullshit you have to deal with.
Quality of life is guaranteed to worsen for you can't leave at 8pm and weekend work will probably hit you pretty often. But if IB is what you truly want to do, the hours shouldn't even be a factor in your decision.
As for people, that evaluation is up to you. A potential risk, no matter where you go, is leaving your promising strategy job (with people who value you) and work for others who view you as a two-year contractor and couldn't care less about your career goals.
Incidentally, which firm and which group in London? |
| Message: |
The firm is HSBC..and the group has yet to be determined. The first 2 years are structured into an 8 week training program and followed by 3 rotations that last 6-8months. You are given input into what areas you want to rotate through..i.e. M&A, Private Equity, or Sales and Trading (my personal choices). After the 2 years you become an associate in one of the previous 3 rotations which is mutually determined. I know HSBC is not a BB, but they are a top European Bank with a lot of growth potential, and who knows they may even make a major acquisition to gain a better US presence. Positives are that I hear the culture is a bit more relaxed than at other banks and that the hours are not as brutal. ---Right now I am just trying to gather the opinions of others so I can be more confident in the decision that I make.
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