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- เผยแพร่เมื่อ 3 มิ.ย. 2024
- Investment banking salary, hours, pros & cons...is Investment Banking worth it? I'll share my top 5 pros and cons for doing investment banking as an analyst, based on my experience as an analyst at Goldman Sachs. Everybody knows about the investment banking pay, the crazy hours, but what do you really get out of the experience, and what do you sacrifice as an analyst? If you're curious about getting into banking, I highly suggest you watch all the pros and cons to get a fuller picture before you decide to go for it.
If you're interested in learning the system I used to get a job at Goldman Sachs and 9 investment banking offers, check out my Investment Banking Bootcamp.
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📈 Banking Videos
Day in the Life of a Goldman Sachs Investment Banking Intern (THE HONEST TRUTH)
• Day in the Life of a G...
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🎬 TIMESTAMPS
0:00 Intro
0:11 Top 5 Pros
0:12 1. Exponential Learning
0:46 2. Door Opener
1:00 3. Impact
1:18 4. Fun
2:12 5. Compensation
2:42 Top 5 Cons
2:44 1. Losing Yourself (Hours)
3:22 2. Lack of Control
4:02 3. Relationships Suffer
4:45 4. Lack of Fulfillment
5:30 5. Pigeonholing
6:15 6. Mental Health
7:24 Is it Worth It?
7:56 Tip
8:09 Was it Worth It For Me?
8:45 Day in the Life of an Investment Banker
8:50 My Goldman Sachs Resume
👋 ABOUT ME
Ex-Goldman Sachs banker and VC turned career coach.
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#financejobs - บันเทิง
dude this self worth stuff was so real, thanks for sharing
Wow awesome, really glad you enjoyed it!
Love the video man - great work. Glad you have gotten on the growth trajectory mindset too!
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
Just buy Gold, the government has failed us or try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
Indeed, gold proves to be a strong investment and a reliable hedge against the declining value of the dollar. I've held onto some gold for quite some time, and I'm thankful that my advisor's rapid adjustments to market fluctuations have likely prevented significant losses.
Please can you leave the info of your lnvestment advisor here? I’m in dire need for one.
Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.
Enjoying the content, i dont know how i got here. Its nice to here about your perspective i banking who knew you worked so much, ive been in the Military almost 10 years , dont think ill ever cross into this field . Man it sounds so dynamic.
Glad you enjoyed it!
Great video and content!!! I can relate fully when I started my career at EY :) A pro I can add is the good reputation that it has on your CV when applying to other industries.
Glad you enjoyed it. For sure, it definitely leads to a lot of opportunities!
Really enjoyed watching this and could relate to all the pros and cons! :)
Haha totally, glad you enjoyed it!
Let me borrow 10k rq
Really insightful video
Great video man!!
Great video, wish you the best from Italy
Best yt content about business life..
Amazing Video Peter!!!
Glad you enjoyed it!
Great vid Peter!
Glad you enjoyed it!
golden handcuffs😂
It's totally real!
i have a friend who used to work at jp morgan for 7 years & she quit 2 years ago to become a farmer big 180😂, she said the work & money are just not worth it to do in the long term for her mental health, shes so much happier as a farmer now
LOL! That is a great story. Yeah...of all the people that did big 180s, I've noticed a good amount are former investment bankers. It's just so extreme on the external rewards (money, prestige) and internal risks (health, relationships, fulfillment). I eventually became a singer songwriter in LA so totally relate to her story. I actually was reading in The Silk Roads about a Roman ruler (Cincinnatus I believe) that retired to basically become a farmer bc he cared more about growing vegetables, whereas his predecessors cared more about war/conquering/power.
Thank you my brother, I could understand full investment banking systems. Now I don't want to work in this industry and be just workaholic
Glad you found it helpful!
Amazing video man ❤
Glad you enjoyed it!
Great video. I would pay to talk to you even for 15 minutes. I give such amazing vibes
Glad you enjoyed it!
Thanks for this amazing video bro 🙏🏻
Glad you enjoyed it.
actually i was thinking to choose it or not, and your video gives me a full information to make a decision
Awesome, glad it helped!
How are you swayed ? I am in same position and I’m going for it 😆 I’m single so this fits my life
Hi peter you vedios are really helpfull. Can you share which are the skills to get into the investment banking.
Its really down to the person at the end.
Do you want all the money or do you prefer to have more personal life.
Thanks!
Awesome thank you, I'm really glad you found it helpful!
I think that most of this type of life experiences happen in any job not just banking. It just happens slower
Good point, I do think working for yourself mitigates some of these challenges but has it's own set of ups and downs too
Do you reccomend role in finance that have reasonable pay and WLB.
Thank you for the video, I am deciding between IB and VC, helps a lot.
Congrats - sounds like you've got a lot of good options. I actually did VC after banking and really liked it. How are you thinking about the two options rn?
i really wanna do vc, but would ideally want to avoid IB. Would u recommend going to a top apm program, growth equity, or working at a startup?
I’m a sophomore in college. I’m more interested in the asset/wealth management type career. I prioritize work life balance/great social life but I also think I can gut out the 2 years of not doing much outside of work because I figure whatever I go into I’m going to be working a ton anyways right out of college. Just kind of at a crossroad between going into IB or just going straight into AM/WM as an advisor. Do you think doing 2-3 years in IB could really help my exits opportunities maybe in starting my own wealth management firm?
Great video by the way
If you know what you want to do I'd suggest just going directly for that vs doing a stepping stone that isn't directly relevant. If you're not sure what you want to do within finance IBD is good for keeping your options open, but imo not worth it if you already know you want to do pwm. Doing pwm will likely help you set up your own pwm firm more. Hf!
Awesome video! I'm from an engineering background but worked with one of the big 4 as an analyst building financial models for energy projects. Almost done with my Master's degree and seriously considering Investment Banking. I've got no serious education in finance. Everything I know and did is self-taught. Do I need additional qualifications in finance to get into investment banking or my current knowledge is enough to succeed?
@@PeterSu my Masters is in Electrical Engineering with many modules in Energy Economics
Are these salaries pre or after tax? If they are pre tax, how much can you earn after tax?
Awesome 👌 truth
Liked 👍 Thanks
Bottom line you just a number
As a tradie that’s reskilling into finance, I feel like I’m on the other side of the cultural zeitgeist.
Hey Peter can I go with investment banking I love not for money, For interest but work life balance is so bad so what I do. And plz plz plz reply for this question a investment banker has time for his entertainment with his money plz plz reply brother!
You could try to do corporate development which has better hours or fp&a which has better hours. It's usually easier to get those jobs if you've done banking. Or you could do other financial analyst jobs to do modeling but with better hours. Hf!
Former consultant here (Tier 1 firm), I honestly can’t see any advantage to doing consulting over banking except if:
1) You join an MBB, especially at the most junior level
2) You have a clear industry focus and join a consulting firm that’s recognized as THE expert in that area
Main advantages of IB over consulting IMO are:
1) Developing hard skill set that’s transferable to many other career paths
2) A wider range of exit options (eg, PE/VC, corporate finance). Consulting is more useful if interested in moving into a corporate strategy/ internal consulting role, otherwise my sense is IB has more exit opportunities. I have a friend who is an IB associate and gets job offers constantly (from other banks as well as non-banks). I didn’t receive nearly as many unsolicited offers.
Bankers still gain client facing exposure, industry expertise, and project management and presentation experience . I think the “problem solving” skill set of consultants - while valuable - is not a major differentiator (and tbh, is mostly just common sense / easy to learn frameworks).
Start your own business own your own infrastructure !
Tots
What is a good alternative for investment banking that has good money and a good work life balance?
traffic cop
@@mozziezapper erm
The exit ops are not what they used to be. PE is not hiring. You could exit to corporate finance but you don't need IB experience to start.
Fair point the landscape has changed and still always change. What would you suggest these days?
@@PeterSu Hard to say. There are still plenty of corporate finance roles that love former investment bankers but you will probably take a pay cut. I see private capital postings as well at places like Blackrock, that's what I would do.
Slowly it turns you into Patrick Bateman
Hello peter, i have a few questions.
First, Are there many foreigners working in this industry in the US? It is my dream to move to move there one day.
Second, is it hard to get the job? The competition looks really tense.
Last, How much did you earn per year and how is the salary growth?
1) It's not a ton but I definitely worked with people that came from different countries so it could be possible. One path I've seen work for people that want to switch into the banking industry is to get into a top MBA program in the US or in Europe and then recruit to be a summer associate.2) Yes, it's very selective and high-paying so the competition is very intense. 3) Check out the compensation part in the video. GL!
Do you think it is better to get a masters or can you go into the business with just a bachelors in a financial major?
Depends on what you want, but generally it's probably easier and cheaper to get in from undergrad. Unless you're coming from a non-business background and need to switch into business, then getting an MBA and then getting into banking makes sense. What year are you in school?
1
If you want to improve your cover letter, you can download free templates of my Goldman Sachs Resume and Cover Letter here:
petersu.co/resume-ibd-gs
Is there a way to send you pm?I have a few questions for you, ofc if your time allows you to answer them.Thanks man
@@morethanhuman8834 Hi, feel free to email me (to avoid spammers I've listed in petersu.com in my about page).
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
so... how much did you make in banking?
Minimum wage after you calculate all the overtime as an investment banker
I love finance, but this sounds horrible, to be honest.
just go to medical school after college and make bank
Free dinners and bed under the desk
Gotta call the big conference room with the soft carpet!
Sounds like you dodged a bullet
Hi Peter, great vid.
As a college student I want to know, aside from networking with people and applying for interviews, how do you get ready to become an investment banker? I mean this like technical wise, what areas of finance are you supposed to be pretty good at once you have a foot in the door?
I'd suggest learning accounting, valuation, and financial modeling - taking basic classes is a good start and doing Finance Case Competitions at your school if they have them.
no amount of money brought a single sec of time. i am a cfa aspirant but to tell the truth there is more to life than money and you will only realise when you lose these moment
So you regret that job
@@harryluteshi7487 sometimes to be honest
🎉golden shekels
Haha nice