Top i-banking firms

[ahnuld]

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What would those with experience in the industry recommend I do to prepare myself for the field, as well as make my self more desirable to perspective companies?

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you could learn to differentiate between words that sound similar but have completely different meanings

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lol , ass [img]/images/graemlins/tongue.gif[/img]. Honestly though if you get into Upenn and do well academically you'll have no problems and the little things (building a resume) will be made obvious to you there.

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I am glad this topic was introduced, as I was going to start a thread about I-banking in the near future. Currently, I am a high school senior with aspirations to one day be an IB, and I was wondering what the most effective path would be for me to pursue a career in this field. I am applying to Harvard, UPenn, Boston College, Bentley, and Babson, all of which have strong business backgrounds. My chances of being accepted to UPenn are very high due to alumni and family contacts, and thus this is where I see myself next year. What would those with experience in the industry recommend I do to prepare myself for the field, as well as make my self more desirable to perspective companies? Also, if I were to get a great deal more of financial aid and scholarship opportunity from a lesser school such as Bentley or Babson, will this hinder my chances of employment severely? I sincerely appreciate all those who take the time to respond, and offer guidance in this difficult matter.

Thanks
Ryan

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I'm really interested in hearing the reason a high school senior wants to get into investment banking.

[SunOfBeach]

You seem to want an honest answer of how to optimize your chance of getting an I-banking job post-graduation. The honest answer is that your probability of getting an I-banking job coming out of Babson or Bentley is close to (if not) zero. Screw the grants and scholarships if you have to, go to Wharton (or much better yet, Harvard if you get in), and pay back the loans later.

[stephenNUTS]

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I am glad this topic was introduced, as I was going to start a thread about I-banking in the near future. Currently, I am a high school senior with aspirations to one day be an IB, and I was wondering what the most effective path would be for me to pursue a career in this field. I am applying to Harvard, UPenn, Boston College, Bentley, and Babson, all of which have strong business backgrounds. My chances of being accepted to UPenn are very high due to alumni and family contacts, and thus this is where I see myself next year. What would those with experience in the industry recommend I do to prepare myself for the field, as well as make my self more desirable to perspective companies? Also, if I were to get a great deal more of financial aid and scholarship opportunity from a lesser school such as Bentley or Babson, will this hinder my chances of employment severely? I sincerely appreciate all those who take the time to respond, and offer guidance in this difficult matter.

Thanks
Ryan

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I'm really interested in hearing the reason a high school senior wants to get into investment banking

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Without making a perfect generalization,.....I think TOOO many highschool seniors made some pretty big money in the donkey ass poker boom(the same as the traders in the pre-NASDAQ bust prior to the 2000 crash,that are now 90% BROKE)....and assume/think that the transition to WS is easy!

I will say the POLARIZED comparison is light-years apart,and a college education should be FIRST priority

SF [img]/images/graemlins/smile.gif[/img]

[Actual God]

stephen (or anyone else w/ experience),

is there any reason to get into i-banking/trading if you don't want to be doing it for more than 3-5 years?

[stephenNUTS]

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stephen (or anyone else w/ experience),

is there any reason to get into i-banking/trading if you don't want to be doing it for more than 3-5 years?

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IMO the REAL money to be made is AFTER the 3-5 yr mark,from experience,moving up the ranks,bonus incentives,profit sharing,etc

SF

[whyherro]

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stephen (or anyone else w/ experience),

is there any reason to get into i-banking/trading if you don't want to be doing it for more than 3-5 years?

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IMO the REAL money to be made is AFTER the 3-5 yr mark,from experience,moving up the ranks,bonus incentives,profit sharing,etc

SF

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For banking:

in the first two years you pretty much get the best crash course is finance available, and you get to make some $. After 3 years you generally make associate so years 4 and 5 would be spent as an associate, which is kind of just before you start making the big bucks. You're pay goes up pseudo-exponentially in banking. A lot of people leave after 2 years to take jobs in private equity and with hedge funds.

Trading I'm not as familiar with, but I imagine its probably a great crash course too. You sacrifice a lot less with trading as the hours are less, but during the early years I think the pay is less as well.

Either way, on a pure $ basis is it worth it to do 3-5 years and then go into a completely unrelated field? Probably not I would think.

But if you are going to go into business, I would imagine this is probably the best formal experience you could get.

[petp_the_greek]

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I started at the low-end on the floor the ole' fashioned way after 5 yrs at St.Johns U(dropping out of Law School)and a VERY long story.
~stephen feraca [img]/images/graemlins/cool.gif[/img]

**PM me if you can

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nice to see a fellow redmen alum on 2p2 and on WS. [img]/images/graemlins/smile.gif[/img]

[ahnuld]

yeah once you do 2 years as an analyst your resume becomes gold and you can get a job anywhere (assuming you were semi competent. But the real money is made when you become a VP. I think you can make VP 5-6 years in (so say you will be 28) and that pulls around 800kish a year. I dont even want to think about how much directors get but its well over a mil a year?

[whyherro]

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yeah once you do 2 years as an analyst your resume becomes gold and you can get a job anywhere (assuming you were semi competent. But the real money is made when you become a VP. I think you can make VP 5-6 years in (so say you will be 28) and that pulls around 800kish a year. I dont even want to think about how much directors get but its well over a mil a year?

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You generally spend 3 years as an analyst, assuming you take the third year, before getting promoted to associate. Kids out of b-school start as associates as well. Looking at 4 years standard as an associate. Once you make VP you could either spend a short time there or an eternity, a lot of people never get promoted to MD. (800k is a pretty high number) once you make VP pay is largely performance based and there is large disparity b/w relative #'s in that there are some VP's who make more than some MD's but also some VP's who don't make much comparatively. Generally MD's are 1mm+ a year.