| Topic Name: |
The highest-paying. |
| Message Name: |
more feedback |
| Date Posted: |
03/13/2001 |
| In Reply To: |
The whole arena of I-Banking is definitely the highest paying industry overall. In Sales & Trading you work great hours and great money if you're good. Corporate Finance and M&A people are very highly compensated, but must practically give up their life to get their paycheck. Private Client Services (PCS) is selling to High Net Worth individuals. The pay is also great and you get to have a life and meet some really cool people (literally CEOs, professional athletes, tv/movie stars, etc.).
I'm surprised that nobody mentioned private equity as a career (venture capital and LBO shops). It is probably the most prestigious industry and could be the highest paying as well. The problem is that it is very difficult to get into (even if you are a Harvard MBA with a 4.0). Coming out of undergrad it is not such a great option however. You will learn more and have better opportuities if you start out at an investment bank. Most people in private equity came from I-Banking or consulting some time after doing their MBA.
Hedge fund management can also be a place where you can make tons of money.
Consulting is also a lucrative career option. There is a lot of travel involved most of the time.
Look, you have plenty of time to decide, don't worry about it too much. Just keep up your grades in college and you will have plenty of options.
Associate, Lehman Brothers PCS |
| Message: |
You really have a great advantage since most people I know start planning on their careers almost by the time they realise collegue is over.
I come from Spain, so maybe my experience is not fully useful for you. I graduated in business in June 97 first of the undergraduate promotion, so I had plenty to choose when I graduated. I worked three years as an equity research analyst in a top Investment Bank, and since July 2000 I work in a private equity firm in Spain. From my experience, also as a IB recruiter for junior positions, I want to stress the following:
1) High school grads are important, but the great challenge is just starting, recruiters will care about your performance while at university.
2) As important as your grades, or even more important, are your extracurricular activities and social life, show you are not a lab rat but an enjoyable guy eager to play an important role in a teamwork environment
3)Plan to do at least one intership before you start your last university year, a trip to Europe to study another language?
4)In my opinion IB is great but not so much as a junior analyst (shitty work, long hours,weekends, lack of visibility...) maybe a wiser alternative is to start your first two-three years in equities (you will learn more and will have much higher responsabilities and visibility) and plan to do an MBA in top B-School. After that you can start a career in IB as an associate. I agree with the guy from Lehman about the prospects in venture capital, it is better to come here once you are a sound and very senior proffesional coming from either management consulting or IB. In fact, I am applying this advice to myself since I am starting an MBA next September and probably will go to IB after that. I have been accepted at Anderson (UCLA) and Kellog and I am still very undecided. On the one hand I prefer the environment and culture of UCLA, on the other hand I wonder about the different career opportunities at these two B-schools given their different positions in the rankings. Does anyone can help me with this?
Good luck (and take it easy if you continue this way you will have plenty to choose from...)
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