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Originally Posted by Jonn
Interesting, thanks for your thoughts. The reason I got into that is because somebody mentioned that investment bankers are very,very well paid. I'm glad I still have to time to do some research. I'm also looking into various analyst positions and portfolio management. I don't want to do some repetitive boring work just because it pays well...
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Sure, everyone wants to make a buck and get rich quick, but if you do not even have a passion for it and are merely interested in it for monetary sakes, you're not going to make it past three years. I do hope you have that passion! (Now note, 90% of people are in IB to make a lot of money really fast, so you seem banker enough in that aspect

..)
Depending on what you want to specialize in (I highly recommend derivatives / working up to a quant trading desk--if you don't completely fail at math, you can do extremely well), you're still going to be working LONG LONG days, as was said before. If you want a steady girlfriend (as opposed to spending $1k on strippers a month), this is NOT the job for you. When you get in at 2AM and your girlfriend asks how work was and what you did, you're not only going to be exhausted but also embarassed at what you did do--IB is so mindless as a starter position (I mean someone with a degree in Elementary Education could do it--you don't need to know a thing about finance) that it will be frustrating, but the bonuses and perks will definitely give you an incentive to stick around. Stay three years, finish out, and look for those exit opps not only within the company, but also outside. Ideally, if you an land this job right out of undergrad, you will be able to move onto an MBA afterwards at a truly T1 school and then you can start the process all over again (but, if you're lucky, just look for good exit opps and EXCEL at what you do--those performance charts of yours will have to be top of the line).
Being a first year student though, remember that you have TIME on your side--rock those grades, get an internship this summer (doesn't have to be at a BB/elite boutique, just anything related to finance..even small boutiques near your home would work) and NEXT summer and the summer after that will be BB ones as you will have your experience and you will be ahead of the curve in relation to 90% of the other kids. Know all about the specifics of the work and whether you want s&t or wm..just know what you would be doing as an analyst, there's TONS of info on wallstreetoasis.com. Sign up for the forums and be sure to research IBD..it's miserable, but if that's your thing go for it. Be able to talk about the market with a keen sense of intelligence and be up with all the news.
Now, the reality of it is, if you're not at a tier 1 school you're going to have an
extremely tough time even getting an internship. These spots are so competitive I cannot even tell you, and obviously the kids from Princeton MIT and Harvard will be grabbing those spots over you, UNLESS you stand out. First you have to get your foot in the door (connections..), which is also pretty hard (getting that first round interview), and secondly, you have to portray them that you have a deep passion for this, and seeing past your Univerisity's ranking/your GPA/what you have done before this. If you're not coming from a target, I highly suggest having a 3.7+ (easier said than done I know).
Seeing that you're Finance, you should be fairly well off with your math I'm assuming, but if you can't do simple things in a short amount of time you're going to have a hard time in that interview as well.
And as always, you better have your own portfolio with at least $5k and you better be treating it very seriously. You will so much more well off than even kids who complete their analyst positions at BBs. Have a journal, track your P/L, and preserve that capital as always