investment banking

[archcommus]

Can someone tell me what this even is, and what area of study leads to it?

 

[cain]

Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?

what is "this" that you refer too?

 

[cchen]

Originally posted by: ngvepforever2

Originally posted by: cchen

Originally posted by: cain

Originally posted by: cchen

Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!

wait, is DB actually paying interns overtime?

hell yes they are paying overtime. think about it, saturdays and sundays=all over time!!!

umm... no other bank pays overtime. no other bank has ever paid overtime.

I work in the information system department of a bank and I get paid overtime. Then again, not everybody can work for the largest credit union in the world (NFCU).

Regards

ng

you're in IT.... you're not a banker

 

[cchen]

Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!

yea so I told my friends who are at MS, ML, GS, CSFB... they're very pissed lol

 

[HardcoreRobot]

Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?

making money by playing with someone elses money

 

[cchen]

Originally posted by: HardcoreRobot

Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?

making money by playing with someone elses money

you're actually referring to trading. ibanking deals with structuring the deals that companies want to make, issuing debt, etc

 

[cain]

Originally posted by: cchen

Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!

yea so I told my friends who are at MS, ML, GS, CSFB... they're very pissed lol

haha that sucks. i calculated that a first year GS analyst makes about 20/hr, hehe. which is only slightly higher than what i am getting paid right now.

 

[cain]

Originally posted by: cchen

Originally posted by: HardcoreRobot

Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?

making money by playing with someone elses money

you're actually referring to trading. ibanking deals with structuring the deals that companies want to make, issuing debt, etc

trading >* ?

 

[cchen]

I'm guessing that since DB is not doing very well, they're trying to retain more of their top analysts...

 

[cain]

from what my other friend who told me (he's full time at db, not ibanking), there are a lot of inefficiencies. but i am not sure if it's only db, or if it's inefficiency that arises from a big company

 

[cchen]

perhaps, but DB doesn't have a great reputation on the street... everyone who got an offer from them rejected them. but if we had known they were paying OT, i probably would have gone to DB

 

[cain]

where are you now

 

[cchen]

m_k_n_ey

 

[cain]

consulting?

 

[Aharami]

my friend is doing full time ibank. he's a slave

 

[cchen]

Originally posted by: cain
consulting?

yup

 

[cain]

Originally posted by: cchen

Originally posted by: cain
consulting?

yup

explains why you have time to be on here then

 

[cchen]

Originally posted by: cain

Originally posted by: cchen

Originally posted by: cain
consulting?

yup

explains why you have time to be on here then

yea..... though sometimes the hours we work are as bad as bankers. i stayed til 2 twice last week... its not bad when you just have analysis to do....

 

[cain]

i wish i were busier at work. yesterday was the only time i had to stay past 5:30

 

[SZLiao214]

100 hour work weeks. Hello there!

 

[gigapet]

Originally posted by: cain

Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.

that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader

probably just well connected.

 

[imported_xtravistx]

Originally posted by: gigapet

Originally posted by: cain

Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.

that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader

probably just well connected.

Probably? I thought you knew the guy?

Traders only make that much when they are good and making 25x their compensation for their firm. Being connected can get you a job, but not ensure the big bucks/responsibilities


-xtravistx

 

[cain]

Originally posted by: xtravistx

Originally posted by: gigapet

Originally posted by: cain

Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.

that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader

probably just well connected.

Probably? I thought you knew the guy?

Traders only make that much when they are good and making 25x their compensation for their firm. Being connected can get you a job, but not ensure the big bucks/responsibilities


-xtravistx

it never hurts to be well connected. afterall, it's always easier when someone brings you through the door. the rest is up to you. i wouldn't mind having a couple of good connections.

 

[axelfox]

Originally posted by: SZLiao214
100 hour work weeks. Hello there!

For sure.

Oh yeah, does the guy know the difference between lifestock and preferred stock?

 

[Lattiz]

most banks pay summer analyst/associates a stub bonus at the end of their 10-12 weeks...i've never heard of anyone getting anything rated (OT) tho

some of the banks recently reported 1st/2nd/3rd year analysts bonuses and they're ridiculously high this year: 60k/80k/100k...that's a lot of green for a 24 year old kid...which probably explains why so many people want to sell themselves for a few years after graduation...