Omg hey Jared! We were at Deloitte together. Hahahaha this TH-cam algorithm is scary. I still have trauma from the one summer at a Big 4 LOL I can't imagine being full-time haha but props to you for sticking it out! Hope you're happier at your new place. :)
A close friend of mine that was working in IB burned out after 11 months. He said working from home during the pandemic actually made his life even worse because he was never off. He only got Saturday off and even then he didn’t really feel off. When he started he was like “I’m going to do this for 5 years, stack a lot of money and then get a more relaxed job” boy he was wrong.
the second point hit so true - I never really knew what anxiety was before I started in banking, but now I feel overwhelmed with it pretty much all the time
I have really bad anxiety after a year an a half of being at my firm. I never realized it was such a widespread thing. I am leaving the firm because mental health is a thing that needs to be addressed.
I definitely feel this way. Being at a semi-target, I feel like I have to do everything to get the upper hand. I couldn’t get into the selective finance orgs, so to compensate I joined two general finance orgs, a student run fund not affiliated with the college, a search fund internship, and will be doing a part time IB internship along with a full time VC internship this summer, and I still think it’s important I do a IB internship in the fall. At the same time, I really see myself in the VC/tech/ tech PE space, and so I do extra activities in that space. I’m not comfortable with leaving IB behind b/c I don’t know if I want to be in HF, PE, etc. But also, I feel that my experience in finance is that it’s somewhat toxic. All the activities I’ve done in finance require you know the nuances of financial models, have perfect stock pitches, and have no desire to be in an industry other than finance - otherwise, you’re judged and are left out of opportunities. It’s really made me question how much I want to be in finance.
Coming from a third world country I can say this is typical of first world problems. In my country, many have difficulty finding work to pay for their next meal or feed their family. Anxiety is further amplified in first world countries due to tunnel vision from some lack of perspective or basis for comparison. For some it helps to visit a third world country for them to see and realise what they take for granted in their own country.
Do what you feel passionate about. You may get the right environment, network, books, side hustles and success so you do not need to work if you do not want to... but you need to enjoy the path and adapt to the new opportunities you will find. That career path does not seem to have been a sustainable one for you in the long-term... you can work as an analyst at a 10-12 hour a day position in lots of funds if you really like it. A lot of people are advancing faster out of the office by networking, reading, personal development, etc. You can work at what you like till you do not need it.
I appreciate the way you explained this topic by mentioning the possible negative effects but simultaneously tried not to demotivate the upcoming juniors. Good job!👍
Good video, young man. I'm 50 years old. While not a IB, I did work as a mid level executive for 25 years in the media/advertising/TV business in NYC. Loved it for a long, long time. But by my mid 40s, I was burnt. Couldn't sleep so started to take Ambien. Eventually became addicted and that, along with the day to day stress and never ending fires to be put out and pressure of having to secure revenue for a bunch of corporate elite assholes, I finally succumbed and was forced out of my job with a pretty shitty severance. And then my mother got sick so I had to also take care of her full time. After 2 years of literally doing nothing (living off my severance) and my mom's eventual passing, I moved back to my parent's house and inherited it so I live there now. I work as a doordash/uber eats driver making about $1,000 a week which is pretty good when you think about it. I work whenever I want. My expenses are next to nothing but property taxes and cable/electric bills on the house. I have no debt. I take vacations whenever I want. I go and do whatever I want. Many days I won't work until 1pm because I was staying up all night watching cool movies! I've NEVER BEEN HAPPIER. Sure, I deliver food for a living but it's enough for me to get buy and live a decent life with zero stress. My advice to kids? Make all your money when you can before 40, then just buy a cheap condo in Florida and live a very inexpensive life with a job that you really don't care about doing but has no stress.
Good advice man, trying to do something similar although I am still “very young” as people say but have been working since 16, going to school and having two jobs due to my family’s debt. At the present moment, I am 22 but eventually flunked out on my third semester of college after getting burned out and diagnosed with clinical depression. Am now thinking of returning but don’t wanna go through the same ordeal all over again. That being said I was wondering if you had any advice for me as for what career to aim towards and/or what degree to pursue Thank you for your time
great video, Bryan. i already have a lot of work anxiety due to college and extra-curriculars (i study management & industrial engineering) and i used to be this super try hard person, before college, but eventually i ended up looking at my sides and seeing how much i was giving up in order to become just another financially successful but unfulfilled worker. had to go to therapy and it helped me a LOT to find some of my values and create a healthier lifestyle. however, as i said, work anxiety is still a thing. anyway, i really don’t see myself in banking nowadays... maybe other industries within finance, but that’s it
I can relate to your experience. To be honest, I think there are too many talented individuals working in the banking industry. If I can do it again, I would love to be a quant.
I loved hearing your perspective on this topic. Starting minute 7:10. Literally described me and my thought process. What is there to regret about putting in the work though? I was the easy-going mediocre high school student. Never went to class and hated the idea of school; i never had a vision for my life. In college I met so many different people with insane mindset and unique stories - i learned so much about myself and the value of visioning your future and being the creator of it. Act or be acted upon. Now I relate to everything you just explained. Networking and taking extra courses online to have the upper hand. This really put into perspective the amount of time that I put thinking about becoming that banker. I regret being that mediocre student in HS who had no idea where his life was headed. I’m glad I’m able to look back and know I can take control. To me IB is proof of just that - the ability to write my own story and never letting anybody write this for me like i unknowingly did in HS.
@Alright Alright Alright I checked out Zach Gallardo based on your comment, and I like his voice just as much as Bryan's, but not better. I will say that Bryan's voice is the better version of James Charles' voice though.
most of my friends that have PE internships right after second grade are born in wealthy families. That makes it a lot easier to get in this roles because of the connections their family have
Hey Bryan great video! As an ex investment banking analyst (Nomura in London), I share so many of the things you mentioned here. Particularly the one around anxiety and always needing to respond. I feel bad because since I was working from home, I think this trait has slightly rubbed off on my gf (we live together) even though she doesn't work in anything finance related. It definitely isn't how the real world works. That thing about an email sitting in your inbox for a while is completely true. There are way more important things in life to deal with
Have you heard of Domics? He's a TH-camr who uses humor and animations to communicate his experiences. Just some food for thought as you continue to grow your channel.
Hey Bryan, thanks for sharing! Your thoughts, especially on how IB ruining the ideals surrounding money, really resonate with me. I exited banking after 1 year and am switching to tech. Hope your new path at your startup is a successful one!
You’re very eloquent bro 👌 I studied economics at university then banking and international at finance and back then everyone wanted to work in investment banking (probably still do!) I’m glad even though I applied I didn’t get in. Now I’m in a job I enjoy and I’ve got time to think about what Im really passionate about in life, it’s been amazing, all praise belongs to God
Bryan you’re so awesome! I came into freshman year for my first semester the same way you described, IB took over my entire life. That’s when I started watching your videos haha. But I truly never loved it and now I’m on the pre med track which I wanted to do since I was a child. I came for those IB videos last semester but staying for Bryan!
Lol nice video. One comical experience I had was sitting in a Managing Director's office while he rattled off a bunch of things "to do" after 15 minutes of listening to him he asks me if I had completed one of the tasks already and I replied "how, I've been sitting in front of you ever since you asked me". Remembered that when you mentioned the impatience of not getting instant replies!!
its been 7 years I quit banking and only recently shed the crippling sense of getting all tense to even think about that life. I started med school 6 years ago and feel purpose, meaning, something investment banking could never give me. the ONLY good thing about that job is that I can truly appreciate my life now
Yesss the more we take time surrounding us in any industry that focuses on money, we live life with prolong stress that takes away from us as a human. 🙏
im on my research about who i want to become / career. And investment banker is in the list. there isn't lot of information about this field and i found yours which is really helpful. Thanks
It does take a lot of time to wear out. 4 years after a 3-year job at an Investment bank middle office -- I am still shrugging at hearing an e-mail notification and still generally burnt out. I still sometimes miss the excitement. But the hours and the stress were insane.
@@anthonyp.7721 I did middle office at FICC (Fixed Income Currencies and Commodities) for a Moscow/London investment bank. Not sure this is what you are interested in, but please ask if you are. FICC deals with derivatives, repos, buying and selling of fixed uncome securities. Not M&A or IPOs.
@@dAvrilthebear Thanks for replying, yes I am interested in your experience with FICC. So it was pretty stressful as you mentioned, but after you left your 3 year job, do you feel the experience you gain was worth while? If you don't mind me asking, if you kept working in the business industry after you left that job, do you feel your experience in investment banking benefited you when you decided to start your next career or endeavor?
@@anthonyp.7721 It did help, but not directly. When you have a good brand name on your resume, it really helps during interviews. Plus I am still friends with a few of my former colleagues and my former boss. They work for diffetent banks now, so it's a network of connections and it helps with getting interviews with good employers further down the road. I went into commercial banking (specifically, international trade finance). It has very little to do with derivatives, of course, but experience in IB is respected elsewhere in the banking industry.
@@dAvrilthebear Thank you for the info. Also, the more I research about investment banking, the more it sounds like something I would like doing, considering I enjoy unprofessionally researching companies in an attempt to buy stock in them and make a profit every now and then. Investment bankers do research and analyze companies, correct?
Definitely. I plan to go into software engineering (in final round of an interview stage at the moment) then after few years, I plan to switch to being a quant developer. Much better WLB while taking salary into account.
I see some people say the same about software engineering, still think it’s probably the better route overall though. Kinda over glorified by media and people who don’t know much about it but still great.
I believe when you talk this is traditional IBD i.e. M&A, restructuring. I havent seen the hours be that bad for ecm or dcm (since it's very little modeling). Also, I think levfin, project finance, syndication and loan sales can compensate at high levels with less time/stress. Corporate Banking is actually great too but IBD folks are more about the prestige of the title. I know some guys in their low 30s making over 250k and working 60-70 hours, pretty good. I know a few folks in their 40s making 350k working 40 hours. Pretty good trade off.
Started at BB in NYC and I can thankfully say I don’t experience any of this. Maybe the culture has changed? Or is changing. Still long hours but things are more chill, people are more understanding and work life balance is actually a thing everyone gets now!
That's crazy I ALWAYS wanted to work in investment banking!! I invest in real estate, day trade, have a job and multiple business but I know for a fact the money made in banking is amazing! And for me coming from a struggling background I always wished to be in that industry unfortunately in too stupid!!
This video is very insightful, thank you :) I am currently studying Finance and want to get into the investment business but ultimately I aspire to found a Startup on my own, which does not need to be in the financial or Investment world but I would not exclude it. I see IB as a passion on one hand but also as a thing I have to do in order to gather experience, contacts, etc. on the other. Finance is actually something I really love but at the same time I don't want to limit myself if that makes sense. This video definitely got me thinking...
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Great video. I’m not in IB but I feel the same way about my job in actuarial consulting. All I’m passionate about is math...and not working through data I’m not interested about.
are you a graduate? best bet is probably get into the corporate finance division of a MM bank as an off cycle analyst or even look at some top 10 accountancy firms. then from there look to lateral to a full service IB after 2 years. if still at uni then apply to every single internship under the sun and maybe after 30 applications you might just land one. good luck with it (ex banker now living the sweet corp dev life)
Hey Bryan, Love the video, Im looking to take an online financial modeling course, do you have any recommendations on which should I choose, because Ive been recommended wall streep prep Thank you
Thanks for commenting,I will refer you to trade analyst and, accountant to make good income ,go more on digit asset's==+1....,7....,7....,2....,2....,4....,2....,5....,7....,9....,2
My dad is a retail banker I’d like to be a business analyst in a IB I’m not sure if schedule is still 80-90 hours weekly. I knew about JP Morgan and other like GS that have many hours as mentioned above. But especially in M&A or private equity research and less hours in sales and trading. Anyway I’d considered being a quant as i started to write codes and algotrading. How is their condition about business analysts in these firms?
i don’t think anxiety is the right word, more of an actual disorder. it’s more like just stress which can be good (eustress) or bad (distress) :) love your content, super valuable!
Wow bryan..i'm still in IB and so far not yet thinking of leaving, but i can totally relate to EVERY SINGLE thing you tried to explained. And now it's surprising to realize, wow I work with other analysts/associates everyday but we never talked about these?? Just wondering, did you have a chance to share these with your colleagues before?
Would you say that going to a liberal arts college made recruiting and networking harder? I’m going to Middlebury and don’t really know how it compares to other more well known schools in terms of that
I can't even enjoy my consecutive leaves anymore, since you know work are piled up, waiting for your to clean up once you are back. You are lucky if your coverage is decent, if not, you will immediately being questioned about something that you didn't do by management, but you can't say you didn't do it just because you have to put on this "team player" mask
You are working 85 hours a week and you earn 150k annually. Isn't this what you wanted as an IB banker? One of my family members works as CEO/MD 110 hours a week for the past 20 years since his starting year at one of the most elite boutiques IB banks and has made 3 million annually by now. Although he takes only 2 weeks as a vacation off from the work annually, he is a workaholic and happy. He is a GWU graduate and an NYU Stern MBA holder. He is an extreme introvert but only poses an extrovert only in the workplace. He worked in Kidder Peabody and Salomon Brother as VP for several years before joining the elite boutique IB bank mentioned above.
Im a sophomore at UC Berkeley majoring in economics, I want to become an investment banker but after watching videos from people and their experiences im having second thoughts. Do you have any recommendations on what other careers to pursue that have the same pay gap as IB ?
Instead of having one analyst working 100 hours a week, I would have 2 of them working 60 hours a week giving a 25-30% less pay to each. Would get lot more quality inputs and research than horrendously worked up guy barely able to walk out of being tired.
Thanks for commenting,I will refer you to trade analyst and, accountant to make good income ,go more on digit asset's==+1....,7....,7....,2....,2....,4....,2....,5....,7....,9....,2
I always wonder why banks don't adopt that model. I've never worked in IB but it seems to be a toxic culture almost on purpose to perpetuate a stereotype
There’s confidential reasons for keeping teams small. The clients (fortune 500 executives) want a ton of work done quick and don’t want the financials leaked before the deal is finalized.
@@TheBryanJun hmm I’m from Jersey and will be attending college in Jersey but my desire to work as an investment banker is in your area lol. My question is : Will I have to find job over there on my own or will college help me link to them so I could start the process ? I have no idea how that works.
Are there some jobs in that sort of IB area that are less stressful? Also, as someone with a degree in applied mathematics would IB even be a suitable carrier for me?
There's definitely varying degrees depending on industry/firm but if you're in applied mathematics I'd suggest something else, IB might not be challenging/"math" enough for you
I'm not an IB, but have a similar job
I dream about missing emails/messing up deliverables... anyone else? LOL.
What is your job?
Not in the industry but I still have recurring dreams/nightmares about minor formatting errors hahaha
@@ExistentialSadness big 4
Omg hey Jared! We were at Deloitte together. Hahahaha this TH-cam algorithm is scary. I still have trauma from the one summer at a Big 4 LOL I can't imagine being full-time haha but props to you for sticking it out! Hope you're happier at your new place. :)
@@alanahiga9613 LOL the DU profile pic is inconic i see 😂😂😂 ayo it’s a smooth 11:30 EST imma tell yo boss u on utube
A close friend of mine that was working in IB burned out after 11 months. He said working from home during the pandemic actually made his life even worse because he was never off. He only got Saturday off and even then he didn’t really feel off. When he started he was like “I’m going to do this for 5 years, stack a lot of money and then get a more relaxed job” boy he was wrong.
Yeah it's definitely a "to each their own" type of job
I was just thinking about that. Going from bed to 14-16 hrs and going back to bed messes with you
the second point hit so true - I never really knew what anxiety was before I started in banking, but now I feel overwhelmed with it pretty much all the time
yeah it's a never ending feeling
I have really bad anxiety after a year an a half of being at my firm. I never realized it was such a widespread thing. I am leaving the firm because mental health is a thing that needs to be addressed.
same. i don't know why i am constantly worrying about something, when there is nothing
I definitely feel this way. Being at a semi-target, I feel like I have to do everything to get the upper hand. I couldn’t get into the selective finance orgs, so to compensate I joined two general finance orgs, a student run fund not affiliated with the college, a search fund internship, and will be doing a part time IB internship along with a full time VC internship this summer, and I still think it’s important I do a IB internship in the fall. At the same time, I really see myself in the VC/tech/ tech PE space, and so I do extra activities in that space. I’m not comfortable with leaving IB behind b/c I don’t know if I want to be in HF, PE, etc. But also, I feel that my experience in finance is that it’s somewhat toxic. All the activities I’ve done in finance require you know the nuances of financial models, have perfect stock pitches, and have no desire to be in an industry other than finance - otherwise, you’re judged and are left out of opportunities. It’s really made me question how much I want to be in finance.
Always good to be introspective
Which semi target are you at?
What year are you in college? You've done so much holy crap
for sure VC/PE is much more fun than IB, most of people in IB want to then exit to others branches such as PE, hedge funds, etc.. after a few years
dat feel when target school but work in back office
Coming from a third world country I can say this is typical of first world problems. In my country, many have difficulty finding work to pay for their next meal or feed their family. Anxiety is further amplified in first world countries due to tunnel vision from some lack of perspective or basis for comparison. For some it helps to visit a third world country for them to see and realise what they take for granted in their own country.
1000% first world problems
Do what you feel passionate about. You may get the right environment, network, books, side hustles and success so you do not need to work if you do not want to... but you need to enjoy the path and adapt to the new opportunities you will find. That career path does not seem to have been a sustainable one for you in the long-term... you can work as an analyst at a 10-12 hour a day position in lots of funds if you really like it. A lot of people are advancing faster out of the office by networking, reading, personal development, etc. You can work at what you like till you do not need it.
Completey agreed
I appreciate the way you explained this topic by mentioning the possible negative effects but simultaneously tried not to demotivate the upcoming juniors. Good job!👍
Thanks much!
Good video, young man. I'm 50 years old. While not a IB, I did work as a mid level executive for 25 years in the media/advertising/TV business in NYC. Loved it for a long, long time. But by my mid 40s, I was burnt. Couldn't sleep so started to take Ambien. Eventually became addicted and that, along with the day to day stress and never ending fires to be put out and pressure of having to secure revenue for a bunch of corporate elite assholes, I finally succumbed and was forced out of my job with a pretty shitty severance. And then my mother got sick so I had to also take care of her full time. After 2 years of literally doing nothing (living off my severance) and my mom's eventual passing, I moved back to my parent's house and inherited it so I live there now. I work as a doordash/uber eats driver making about $1,000 a week which is pretty good when you think about it. I work whenever I want. My expenses are next to nothing but property taxes and cable/electric bills on the house. I have no debt. I take vacations whenever I want. I go and do whatever I want. Many days I won't work until 1pm because I was staying up all night watching cool movies! I've NEVER BEEN HAPPIER. Sure, I deliver food for a living but it's enough for me to get buy and live a decent life with zero stress. My advice to kids? Make all your money when you can before 40, then just buy a cheap condo in Florida and live a very inexpensive life with a job that you really don't care about doing but has no stress.
Good advice man, trying to do something similar although I am still “very young” as people say but have been working since 16, going to school and having two jobs due to my family’s debt. At the present moment, I am 22 but eventually flunked out on my third semester of college after getting burned out and diagnosed with clinical depression. Am now thinking of returning but don’t wanna go through the same ordeal all over again. That being said I was wondering if you had any advice for me as for what career to aim towards and/or what degree to pursue
Thank you for your time
great video, Bryan.
i already have a lot of work anxiety due to college and extra-curriculars (i study management & industrial engineering) and i used to be this super try hard person, before college, but eventually i ended up looking at my sides and seeing how much i was giving up in order to become just another financially successful but unfulfilled worker. had to go to therapy and it helped me a LOT to find some of my values and create a healthier lifestyle. however, as i said, work anxiety is still a thing.
anyway, i really don’t see myself in banking nowadays... maybe other industries within finance, but that’s it
Good to hear that therapy's working for you wishing you the best moving forward
i don't want to get into banking but i watch these videos lol
LOL there's so many better videos to watch
I could care less about banking. This dude is entertaining to watch
Son. Let me tell you something about regret. It's better to regret something you have done, than something you haven't done.
FACTS
I can relate to your experience. To be honest, I think there are too many talented individuals working in the banking industry. If I can do it again, I would love to be a quant.
This is such corny advice but I think any "if I can do it again..." is worth at least one try!!
Is the job of a quant much different from the one of a financial analyst?
You say there are too many talented individuals in banking but wish you went into something even more specialized and competitive?
I loved hearing your perspective on this topic.
Starting minute 7:10. Literally described me and my thought process. What is there to regret about putting in the work though?
I was the easy-going mediocre high school student. Never went to class and hated the idea of school; i never had a vision for my life. In college I met so many different people with insane mindset and unique stories - i learned so much about myself and the value of visioning your future and being the creator of it. Act or be acted upon.
Now I relate to everything you just explained. Networking and taking extra courses online to have the upper hand. This really put into perspective the amount of time that I put thinking about becoming that banker.
I regret being that mediocre student in HS who had no idea where his life was headed. I’m glad I’m able to look back and know I can take control. To me IB is proof of just that - the ability to write my own story and never letting anybody write this for me like i unknowingly did in HS.
Hi I’m an ib aspirant is there any way I can contact you?
Appreciate the insight and relatability
Dude your voice has potential. Have you tried voice casting in spare time? Lol
That would be awesome- I'll look into it
😂😂😂😂
Yes. Seriously fab voice.
Srsly lol u should try it
@Alright Alright Alright I checked out Zach Gallardo based on your comment, and I like his voice just as much as Bryan's, but not better. I will say that Bryan's voice is the better version of James Charles' voice though.
"PE internships right after second grade" made me laugh ...
LOL
that killed me aswell LMFAO
most of my friends that have PE internships right after second grade are born in wealthy families. That makes it a lot easier to get in this roles because of the connections their family have
Hey Bryan great video! As an ex investment banking analyst (Nomura in London), I share so many of the things you mentioned here. Particularly the one around anxiety and always needing to respond. I feel bad because since I was working from home, I think this trait has slightly rubbed off on my gf (we live together) even though she doesn't work in anything finance related. It definitely isn't how the real world works. That thing about an email sitting in your inbox for a while is completely true. There are way more important things in life to deal with
can't agree more
Eel I really enjoy this investment banker series that he’s releasing its very informative and I can’t wait to see more of his videos
haha theres tons
Have you heard of Domics? He's a TH-camr who uses humor and animations to communicate his experiences. Just some food for thought as you continue to grow your channel.
Ooh ill check him out - I def need to put more thought into what I'm going to do with this
@@TheBryanJun might be too early but maybe 100k sub video idea: draw my life video?
@@youngbinsong552 LOL I'll do this soon
Hey Bryan, thanks for sharing! Your thoughts, especially on how IB ruining the ideals surrounding money, really resonate with me. I exited banking after 1 year and am switching to tech. Hope your new path at your startup is a successful one!
Thanks so much!
What if you are tech in banking. 😄
PE internships out of second grade..hahaha. absolutely relate this video. Been through this myself.
:)
You’re very eloquent bro 👌 I studied economics at university then banking and international at finance and back then everyone wanted to work in investment banking (probably still do!) I’m glad even though I applied I didn’t get in. Now I’m in a job I enjoy and I’ve got time to think about what Im really passionate about in life, it’s been amazing, all praise belongs to God
sounds great!
What job role did you end up getting into? Curious to hear
What kind of job do you do?
Bryan you’re so awesome! I came into freshman year for my first semester the same way you described, IB took over my entire life. That’s when I started watching your videos haha. But I truly never loved it and now I’m on the pre med track which I wanted to do since I was a child. I came for those IB videos last semester but staying for Bryan!
Thanks so much! I'm jealous of those that have the will to be a doctor best of luck
yay im glad you're doing something you love
Excellent commentary and analysis. Fully agree that skills one gets are in finance and not really transferrable into other areas.
Glad you enjoyed the video and agreed!
Damn that sucks. I’m so glad I dodged an investment banking job offer a few years back.
Y que decidiste hacer?
Bryan can you do a video on the trying-hard-to-get-into-ibd culture at colleges
LOL Ill probably get in trouble for this but I like this idea
@@TheBryanJun yay
Lol nice video. One comical experience I had was sitting in a Managing Director's office while he rattled off a bunch of things "to do" after 15 minutes of listening to him he asks me if I had completed one of the tasks already and I replied "how, I've been sitting in front of you ever since you asked me". Remembered that when you mentioned the impatience of not getting instant replies!!
Lmfao
its been 7 years I quit banking and only recently shed the crippling sense of getting all tense to even think about that life. I started med school 6 years ago and feel purpose, meaning, something investment banking could never give me. the ONLY good thing about that job is that I can truly appreciate my life now
Finance is a waste of talent. All these smart people and all they do is make powerpoints.
Without finance the world will disrupt, you dont know how many lives will be in danger if there is no finance
A lot of finance is more than just PowerPoint lol.
Yesss the more we take time surrounding us in any industry that focuses on money, we live life with prolong stress that takes away from us as a human. 🙏
im on my research about who i want to become / career. And investment banker is in the list. there isn't lot of information about this field and i found yours which is really helpful. Thanks
happy to help!
Great video, thanks for sharing the reality in a meaningful way. Not many people want to talk about the realities
Glad you enjoyed it!
It does take a lot of time to wear out. 4 years after a 3-year job at an Investment bank middle office -- I am still shrugging at hearing an e-mail notification and still generally burnt out. I still sometimes miss the excitement. But the hours and the stress were insane.
Hello sir, I am a junior in high school and I'm interested in investment banking, may I ask a few questions?
@@anthonyp.7721 I did middle office at FICC (Fixed Income Currencies and Commodities) for a Moscow/London investment bank. Not sure this is what you are interested in, but please ask if you are. FICC deals with derivatives, repos, buying and selling of fixed uncome securities. Not M&A or IPOs.
@@dAvrilthebear Thanks for replying, yes I am interested in your experience with FICC. So it was pretty stressful as you mentioned, but after you left your 3 year job, do you feel the experience you gain was worth while? If you don't mind me asking, if you kept working in the business industry after you left that job, do you feel your experience in investment banking benefited you when you decided to start your next career or endeavor?
@@anthonyp.7721 It did help, but not directly. When you have a good brand name on your resume, it really helps during interviews. Plus I am still friends with a few of my former colleagues and my former boss. They work for diffetent banks now, so it's a network of connections and it helps with getting interviews with good employers further down the road. I went into commercial banking (specifically, international trade finance). It has very little to do with derivatives, of course, but experience in IB is respected elsewhere in the banking industry.
@@dAvrilthebear Thank you for the info. Also, the more I research about investment banking, the more it sounds like something I would like doing, considering I enjoy unprofessionally researching companies in an attempt to buy stock in them and make a profit every now and then. Investment bankers do research and analyze companies, correct?
Software engineering > banking. IB is trash, I die a little everyday but feel cuffed to my job to support my family.
Definitely. I plan to go into software engineering (in final round of an interview stage at the moment) then after few years, I plan to switch to being a quant developer. Much better WLB while taking salary into account.
I see some people say the same about software engineering, still think it’s probably the better route overall though. Kinda over glorified by media and people who don’t know much about it but still great.
Definitely pros and cons to both
I just took a job as a commercial credit analyst.. hoping to learn so I can make money for myself
best of luck!
Hey Bryan, can we get a how to network and how to cold call and how to coffee chat video? Thanks
he made one
I have a video on this but maybe a revamped one for the new normal
Biggest advice one networking I can give is to not think of it as networking, have conversations with people you like, the rest will follow
I believe when you talk this is traditional IBD i.e. M&A, restructuring. I havent seen the hours be that bad for ecm or dcm (since it's very little modeling). Also, I think levfin, project finance, syndication and loan sales can compensate at high levels with less time/stress. Corporate Banking is actually great too but IBD folks are more about the prestige of the title. I know some guys in their low 30s making over 250k and working 60-70 hours, pretty good. I know a few folks in their 40s making 350k working 40 hours. Pretty good trade off.
Thanks for the video! It was great! I appreciate your insight and authenticity.
Started at BB in NYC and I can thankfully say I don’t experience any of this. Maybe the culture has changed? Or is changing. Still long hours but things are more chill, people are more understanding and work life balance is actually a thing everyone gets now!
great to hear I'm sure people actively thinking about it and the mass exodus during my year and below improved things
That's crazy I ALWAYS wanted to work in investment banking!! I invest in real estate, day trade, have a job and multiple business but I know for a fact the money made in banking is amazing!
And for me coming from a struggling background I always wished to be in that industry unfortunately in too stupid!!
Best of luck!
These are reasons that changed my long term friend. They start placing themselves in effigy moral and life situations.
This video is very insightful, thank you :)
I am currently studying Finance and want to get into the investment business but ultimately I aspire to found a Startup on my own, which does not need to be in the financial or Investment world but I would not exclude it. I see IB as a passion on one hand but also as a thing I have to do in order to gather experience, contacts, etc. on the other. Finance is actually something I really love but at the same time I don't want to limit myself if that makes sense. This video definitely got me thinking...
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Great video. I’m not in IB but I feel the same way about my job in actuarial consulting. All I’m passionate about is math...and not working through data I’m not interested about.
Yeah but honestly no job can probably satisfy that passion for most people sadly
This what happened to me!!! Thank you for sharing
Ofc!
6:54 Private equity internship after second grade is facts
Hi Bryan,
Have you got any advice on how a student in a semi/non target university can improve their chances of getting into IB? (I’m in the UK)
Great question. I second this Bryan
are you a graduate? best bet is probably get into the corporate finance division of a MM bank as an off cycle analyst or even look at some top 10 accountancy firms. then from there look to lateral to a full service IB after 2 years. if still at uni then apply to every single internship under the sun and maybe after 30 applications you might just land one. good luck with it (ex banker now living the sweet corp dev life)
If you can go back to college would you go into business or do something like computer science?
i kinda did both
Great perspective, you helped me make a decision, I’ve already had 2 mental breakdowns…so
Glad it helped, make sure to seek help if needed!
they do have better wl balance but coding is not something everyone can do. Definitely a unique skillset to have.
He is just starting and can always look for some other opportunity. What is the big deal?
Investing is super fun but working in finance for me was soul sucking. I did learn a lot though to make myself rich
“I regret being a banker…..but I would do it again.” Doesn’t ring true.
!!
Golden handcuffs
Hey Bryan,
Love the video,
Im looking to take an online financial modeling course, do you have any recommendations on which should I choose, because Ive been recommended wall streep prep
Thank you
Thanks for commenting,I will refer you to trade analyst and, accountant to make good income ,go more on digit asset's==+1....,7....,7....,2....,2....,4....,2....,5....,7....,9....,2
My dad is a retail banker I’d like to be a business analyst in a IB I’m not sure if schedule is still 80-90 hours weekly. I knew about JP Morgan and other like GS that have many hours as mentioned above. But especially in M&A or private equity research and less hours in sales and trading. Anyway I’d considered being a quant as i started to write codes and algotrading.
How is their condition about business analysts in these firms?
I'm not sure if "business analysts" are a core function at banks - perhaps in their internal corp dev functions?
Probably I’d be a external technician working as a data analyst and not IB related I mean not in the core activity of IB operations or M&A
i don’t think anxiety is the right word, more of an actual disorder. it’s more like just stress which can be good (eustress) or bad (distress) :)
love your content, super valuable!
Awesome video Bryan! The stress seems insane :(
thank you!
Seriously bro your voice is great lol
HAHA thanks I'm trying to embrace it
Don't all jobs come with some anxiety? Obviously not as high as doctors, surgeons, etc.
Yeah this is a good point actually it's more about the variance in anxiety
Wow bryan..i'm still in IB and so far not yet thinking of leaving, but i can totally relate to EVERY SINGLE thing you tried to explained. And now it's surprising to realize, wow I work with other analysts/associates everyday but we never talked about these?? Just wondering, did you have a chance to share these with your colleagues before?
How big is your firm?
Always important to have discussions on why we do things we do - and definitely have shared this with colleagues before
You always have a decision, and you don't need to be special. You just decide.
I love being special though
Would you say that going to a liberal arts college made recruiting and networking harder? I’m going to Middlebury and don’t really know how it compares to other more well known schools in terms of that
video coming next week!
Wise words my dude. Kudos and good luck
Thank you!
Did you get your CFA?
nope
I think that if you want work life and compensation / prestige you should work in sales and trading.
S&T wasn't for me but def a good choice for others
Mate your videos are amazing.
Awesome video as usual!
Thanks so much!
So what do you do now? A full time youtuber?
I work at a startup!
@@TheBryanJun doing what though?
Meanwhile here I am trying to get into this career. Watching other people talk badly about it really just irks me. Wish we can trade places.
Thank you for telling us this brother.
Glad you enjoyed!
do you think there are ANY careers in finance where people aren't miserable/unhappy?
I did not expect this video
hope you enjoyed it!
Great video, couldn’t agree more
thanks so much!
Great video. Makes some very valid points
Thank you!
great content!!
Thanks!!
I’m 22 and still in community college 😢
nothing wrong with that as long as you transfer and don’t stay there
Dude there are two videos with same description just not is there ?
You regret being a banker or not?
what role do you work now? (after banking)
love you bryan
Yeeeeeeet
What should I major in to become a investment banker analyst?
Probs finance to be safe but honestly anything
They will never pay you more than you make them. Be your own boss.
true
If you think this is bad, try working for customer service BPO and survive with their stupid KPIs for 2 years.
KPI's are stressful forsure
@@TheBryanJun yeah man plus BPOs keep logic out the door when they work.
For someone going into finance that wants a good job but doesnt want the IB toxicity what fields would you suggest we look into instead of IB?
Maybe corp dev roles or like strategic finance
How u sit at the screen for 12 hrs and still don't have specs bro
I do have glasses just trying to look less nerdy for the camera!
@@TheBryanJun oh god😂
I can't even enjoy my consecutive leaves anymore, since you know work are piled up, waiting for your to clean up once you are back. You are lucky if your coverage is decent, if not, you will immediately being questioned about something that you didn't do by management, but you can't say you didn't do it just because you have to put on this "team player" mask
You are working 85 hours a week and you earn 150k annually.
Isn't this what you wanted as an IB banker?
One of my family members works as CEO/MD 110 hours a week for the past 20 years since his starting year at one of the most elite boutiques IB banks and has made 3 million annually by now. Although he takes only 2 weeks as a vacation off from the work annually, he is a workaholic and happy. He is a GWU graduate and an NYU Stern MBA holder. He is an extreme introvert but only poses an extrovert only in the workplace.
He worked in Kidder Peabody and Salomon Brother as VP for several years before joining the elite boutique IB bank mentioned above.
2 weeks off all year??? Fucking hell what’s the point of having millions of u have 14 days a year to use it?
Im a sophomore at UC Berkeley majoring in economics, I want to become an investment banker but after watching videos from people and their experiences im having second thoughts. Do you have any recommendations on what other careers to pursue that have the same pay gap as IB ?
S&T. Otherwise no, nothing really pays as high. Consulting is close.
private equity fund, hedge funds, proprietary trading firms, pay is good
Instead of having one analyst working 100 hours a week, I would have 2 of them working 60 hours a week giving a 25-30% less pay to each. Would get lot more quality inputs and research than horrendously worked up guy barely able to walk out of being tired.
Thanks for commenting,I will refer you to trade analyst and, accountant to make good income ,go more on digit asset's==+1....,7....,7....,2....,2....,4....,2....,5....,7....,9....,2
I always wonder why banks don't adopt that model. I've never worked in IB but it seems to be a toxic culture almost on purpose to perpetuate a stereotype
There’s confidential reasons for keeping teams small. The clients (fortune 500 executives) want a ton of work done quick and don’t want the financials leaked before the deal is finalized.
sounds like getting into med school for me
are you from irvine? i noticed on ur linkedin that ur from a school in California?
Yup!!!
@@TheBryanJun hmm I’m from Jersey and will be attending college in Jersey but my desire to work as an investment banker is in your area lol. My question is : Will I have to find job over there on my own or will college help me link to them so I could start the process ? I have no idea how that works.
Love hearing this perspective! Honestly, it still sounds heaps better than being an accountant...
Sincerely,
An accountant who thinks his job is 🤮
:( yeah heard accounting is rough
what kind of accounting job do you have?
Other than investment banker...can you suggest best jobs in finance with better work life balance
PE associate, VC associate, asset managment and to a certain amount senior analyst roles at HF.
agreed with the above!
@@theelitecombine1715 Thank you bryan
Which uni did you go
I didn't expect this voice
neither did I tbh
thoughts on Management consulting in comparison to IB?
If you could fix one problem in the world, what would it be?
loneliness
Luckily u regret..... If u don't then I will feel sad
In 20 years, you'll regret not having more money. Trust me; been down that path.
operations management represent.
best job i ever had.
what career path are you pursuing now?
Working for a startup!
Also applicable to Sales &Trading, sigh
Truth
Are there some jobs in that sort of IB area that are less stressful? Also, as someone with a degree in applied mathematics would IB even be a suitable carrier for me?
There's definitely varying degrees depending on industry/firm but if you're in applied mathematics I'd suggest something else, IB might not be challenging/"math" enough for you