@@256mo creating financial models to show to potential investors why that is a good investment. Lots of money on the line and lots of moving goal posts so your attention and urgency is paramount. Not that fancy just time and attention intensive
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments..
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services,... She’s quite known in her field, look-her up.
I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better.
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Investment advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses, minimal insurance, cut utilities.
@@Erinmills98 I think the current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
@@AstaKristjan Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k.
@@IrenaDolinsek Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls
@@AstaKristjan Kathleen Yanelli Carole She's a reputable tutor who showed me that profits can be produced in both bull and downturn markets. She talks about investing, insurance, making sure your retirement is well-funded, and searching for methods to create a volatility buffer for investment risk, among other topics.
Thanks for the specifics! basically investment bankers are the real estate agents of complex business transactions. So the incentive of investment banks is to increase transaction volumes and reduce transaction time.
my previous flatmate in London worked in investment banking, he worked so much that he had to ask "permission" to go out on a weekend and not carry his laptop. He was 24/7 on call. After 3 years of that shit he moved to Switzerland to a fantastic role there without the pressure, I guess it paid off
Ohhhh yeah. I forgot to mention this in my video. We had "protected hours" which was basically only Saturday where no MD could ask you to do work unless they got permission from the IB division lead. By the way, the IB division lead never said no to an MD's request.
@@HowMoneyWorks 😂 Do they have an up or out culture or does it get a bit better once you achieve seniority? I could work for McKinsey but I want work/life balance.
My roommate was an investment banker while I was a medical resident. I worked 70~80 hours a week but he was pulling well over 110 hours per week. Was never home. He did get paid twice my salary though lol
@@joshuaalvarez7435he absolutely did by driving the economy and being an employee of the company which is part of the human civilization .man you people r dumb
My uncle was the CFO of an oil company and he mentioned to his IB friend they were thinking about doing some kind of deal. He said that was late Friday afternoon... ...then Monday rolls around and he checks outside his door and there was like a 100 page deck about why they should work with them. He laughs about the story cause he literally just mentioned it casually and wasn't even seriously considering it but some poor junior analysts must've worked all day and night all weekend long to get that useless deck made for him
I lost my dad about six months ago and I'm going to receive some money soon. Would it be wise to grow my money in stocks for a few years while I'm in college and then invest in rental properties afterwards, or should I start with real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem pricey, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s 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 $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I learned in college that the market for options is like 3 times the world GDP. I didn't even know what options were before that, and most people don't know. The importance and ignorance around the financial world is really crazy. It should be taught in schools.
I went the boutique route in IB. Everything is just as described but we only did 1-2 deals at a time and it was all success based. No close equals no pay. It was a fun ride for 18 months and pretty good money but yeah, being on standby 24/7 for those calls for months on end is mad stressful.
Haven’t worked in IB (but do work in an adjacent career) not counting commuting, usually work about 60 hrs/wk. heaviest was probably around 80-90. Lightest around 20. Recently interviewed at an investment bank for a sr role… they wanted me to take an exam from 8pm to midnight. So it seems a bit worse than my schedule I detailed.
@@alexgeezy5466 The actual hours weren’t too bad, about 30 hours a week. We chose an office by the beach so we spent quite a few hours having afternoon drinks and watching SoCal sunsets. Crunch time would get close to big bank craziness around 70-90 hours a week, but it’s really all about the need to be constantly ready to take calls from clients, buyers, lawyers, banks, etc. That wears you quick.
I met a second year investment banker and he said it’s true they do 95 hours a week BUT it’s because they count all the restaurants they go to and the meetings in 5 star hotels and golf courses. They consider playing 18 holes of golf working etc. he said to me he loves his job because 50% or more of the work is fun or he’s moving around, flying somewhere (which again they count). Meeting people
I work in IB myself and what that guy told you is absolute BS. I’ve been pulling 90-100 hour weeks for the past 6 months and the only time I’m Not at my desk are 30 minutes for lunch and an hour for dinner. Analyst years are brutal.
yes those investment bankers do exist. those are called the kid of a really rich and important client; and those kids are basically just there because daddy / mommy has a lot of money, and nobody likes those people. with that said, the world isn't really fair, and unfortunately, those kids do get hired, and everyone else has to pick up their slack. usually those kids stay a year at the bank until the hostility from everyone else gets too high; then they are "trained" enough so they leave to join their parent's hedge fund and become even more rich. the only other time this happens is when you join as an intern. just like marine corp recruiting, they really sell you the dream when you're an intern. often times giving you fancy dinner and letting you have very little world while allowing you to do all the fun stuff like traveling and flying. once they lock you into a full time offer, all of that disappears very quickly. and you're sitting behind a desk chained there for 110 hours a week. i remember pulling 40 hours in a single weekend alone after back to back all nighters. then i realized, in a single weekend, i basically worked what an average person works in a week. i also remember walking back to my apartment at 7am in the morning to shower; so i can get back to the office by 8am as mandated by the director of the team. walking against the flow of traffic to my apartment to shower and then walk back to the office, was one of the sadder days of my life. really made me question wtf i was doing with my life.
@@levitation5129 I'm not in banking, but I just don't understand why so many hours, I mean when dio you sleep, relax eat, do your laundry, clean your house, it just doesn't make sense how you could you live
@@nevilleabbott2330 I'm not in IB, but in public accounting. I put in "only" 85-95 hrs a week. It sounds like a lot but when you're working under high pressure, time flies by quick and feels like there's not enough hours in the day to get our work in.
banco/banca means counter, desk or basically any kind of horizontal plank really. That's also where the term bankrupt comes from. Banca rotta, meaning broken counter, was the most common result after telling a medieval deposit holder you don't have his money anymore.
College Sophomore here, thank you so much for making this video, now I know I definitely don't want to pursue this career, thanks for saving me from a lot of suffering!
It can actually be very interesting and makes you grow very fast. You can do this job for smaller figures but doing less hours in smaller firms / boutiques. First years can be anoying spending a lot of time making and reviewing powerpoints and business plans on excel, but as you progress you get a good understanding on business models, on the players of a certain industry. And it is very fulfilling to feel that you are part of very important strategic decisions for sellers or investors Also you will get many high level contacts and nice jobs opportunity after ie: business valuation, business restructuring, due diligences, private equity, family offices, corporate M&A, CFO... It is really worth it in your junior years of your carreer imho
Very informative and valuable video as usual. It’s interesting to know that MDs and VPs spend a lot of their money at country club memberships and significantly rely on wealthy clients to make business deals. I understand why there is so much training for employees not to lie to clients
This was a well written essay and high quality video production. It explained IB in such articulate clarity that no other book or video did before. Not even in-person discussions. Thanks mate!
Because of the US economy's importance to the global economy, its instability has far-reaching implications. In such circumstances, safe-haven assets such as those with high FA and cryptocurrencies provide security. Investors must prioritize asset protection, diversification, and balanced portfolios in order to weather market volatility.
During a recession, investors must understand where and how to distribute capital in order to hedge against downturns while being profitable. If you are unable to navigate the market, speak with an expert advisor.
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
'Laurelyn Gross Pohlmeier' 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.
Knew as soon as I stepped into the business school that this kind of "traditional" finance stuff wasn't for me. Wound up going the econ BA->government analyst route and am more than happy with my $200 per actual-hour-worked, never being invited to meetings with our "customers", and turning off my phone at 5pm
turning 20 soon and have been saving money for school if I decide to go. unsure of what career path to try to follow but i am interested in doing finance. any advice
@@ooopppiiiuuummm When picking what to study try to find a balance between job prospects of the degree, what you're good at, and what you enjoy doing, in that order. Your first two years of school are for figuring that out, you can switch majors and still graduate on time, do so before you ruin your GPA AND have to stay an extra year. For hiring fresh grads the main things we're looking at are your grades, what school you went to, and what internships/jobs you had. Also please pass the drug test, you'd be amazed at how many don't.
@@m_waz7945 nailed it. It is hard enough getting through the interview process to be offered a job, but applicants have essentially waisted our time when we send them to drug screening and 30% fail or don't show up.
@@Xander-dx6mw hi there. I appreciate the previous comments you've left and find them valuable. I'm almost 19 & have been studying economics personally & at High school since 15 - it's my passion. I've Taken a Gap year, haven't enrolled in University. If you were in my shoes how would you break into IB/ financial services industry & differentiate from The Uni Grads? Kind regards.
Extremey well done. I had an opportunity to go into investment banking until my dad got sick and I chose to take care of him. Always wondered what it would have been like
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Quick question: Given the times, would it be better to go into real estates or stocks. I have been confused on the better option and where and how to go about this. Can't seem to find the most appropriate and of utmost importance is also a less time intensive option.
Why not both? With the present economy, you should never forget to diversify. Do not put all your eggs in one basket. As one who has been into Real Estates for as long as I can remember, I made my first million earlier this year from stocks alone (got the services of an expert because I also have time constraints). I also experiment with a couple of other things. Hard to imagine that I had initially refused to try out new possibilities. Good luck.
@@nealquincy122 ...Very sound and realistic. I too have been into both for sometime now and though I won't say I have lost a fortune, I have squandered quite a lot... You mentioned using pros, if its not a problem. do you mind telling who you used or recommending a good one? I could definitely use the help of one right now... I look forward to you replying...
@@perryty4127 Yeah, I used one but that's cos I'm not so knowledgeable in the field and I battle with time constraints. Not really sure I'm permitted to go into details here, but mine is Abraham Adam Keith, and you could possibly find more through a quick search.
@@nealquincy122 Followed this thread outta curiosity and boom, I know this funny man. Once attended a fundraiser he was also in attendance here in Vancouver,, serious looking man with with a funny accent,, He's in the States though, I doubt he works with non residents,,,
MD in fixed income at boutique firm here. We don't work that extreme of hours, but MD's work 55-60, AVP's work 65-70, and analysts and associates work 75-80. Pay can also vary widely, as can bonuses and long term payout. 20+ years in and I feel I sold my soul to the devil.
@@74_pelicans yeah I don't think you understand, I don't defend it. It is bullshit that I know my coworkers better than my family. My coworkers have had more divorces than weddings in the last decade. As an analyst/associate, I averaged 60 hours from years 1-5. As an MD, part of my job is after hours client meetings, and a lot of long distance flights. I average two flights a week, and include my departure to the airport as my on the clock time. I typically fly out at 6:15 AM (leave my house by 4:30 am) and have meetings until 4 pm, then have dinners or drinks until 9 pm. I'll fly back on the second day and land around 9pm, and will walk in my door by 11:00.
@@74_pelicans They don't want to hire more people because there is no need to. You realize that the people who get hired at these top end IB places are cream of the crop. They could land jobs just about anywhere they want. They could quit IB tomorrow and get another job easily. They CHOOSE to work this hard because it pays what it pays. They could go elsewhere and work much less hours but it wouldn't pay nearly as well right out of college. As the video says, an average performing first year analyst is clearing 200K which is top 5% in the US. How many jobs out there pay that much right out of school? Also, the experience gives you a really good jumping off point to other less time intensive finance jobs like private equity, hedge funds, etc. At the end of the day, the payoff (money, connections, prestige, resume building) are all worth the extreme hours to the people working there.
@@HowMoneyWorks Oh I did not get into it because I knew I didn't want that. I also warned people who were going into it to make sure they wanted to work the hours. For those who stayed, it was 100% the money. You get paid better in your first year than a lot of people in their 20th year. No one stayed past the 3 year mark though.
What I don't fully understand about these ruthless hours is the productivity behind the whole thing. As a person who did work 24/7 and sleeping with my mobile in my hand, although in a field that had absolutely nothing to do with IB, eventually I ended up doing a poorer job and making loads of mistakes. After all, getting 3-4 hrs of sleep a day hasn't exactly been the key to success. I mean, didn't they already scientifically proven that a well rested person works better than someone who can't even remember what day it is? Given the amount of money IB are making, wouldn't it be more lucrative to just hire more analysts rather than working a few to death?
The reason it is being done like that anyways is because it comes in waves and speed is of essence. Yes, productivity is shit but poorly done pitch is better than no pitch done in time at all so here is that. IBankers have to be ruthless in scoring transaction before their competitors.
I was going to wait to see if someone caught on to that. Second shop I worked at was around COVID. Deal flow was slow so I was working maybe 50 hours a week. I was doing the editing but when this channel made money I quickly turned to hiring an editor. I was able to write and narrate and still have a bit of free time. I should have just quit after the second shop but my pride got me and wanted to move to a bigger bank. Spent almost a year there then finally quit, but I barely even had time to write and narrate and I was miserable. I'll make a video on this soon.
I don't think the bad rep comes from the part of matching up the two sides of acquisition and/or refinancing between companies. It comes from the public's perspective of how equity is (mis-)managed and it always being the little guy loosing out like the subprime and such things, the public's perception is that these so called banks always comes out on top what ever the outcome is and the people working there gets big bonuses for screwing people over.
As you get older Pretty much every single role in the world that is well paid like earning millions in a single year as an employee (not talking about being a tech dev) is sales or being a broker.
they as well not a bank they are a "intermedary agency". in other parts of the planet investment bank are part of the moneygenerator by a business bank bcs the BB give themself a credit for buying with just 1% cash cover. and so the BB become a IB.
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Sincerely it's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Very true, people downplay advisors role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license advisors. Thankfully, I came across someone of practical knowledge, and decades of experience, my stagnant reserve of $325K has yielded nearly $1m after subsequent investments so fa
My advisor is ‘Kate Elizabeth Amdall’’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks
Also to mention the CIP is marketing material as well. You're marketing yourself to private equity funds to sell their holdings if your team can make good CIPs
A few years ago, I had worked in the Investment Banking Industry and believe me the job was very confusing, difficult and stressful. The pay was good but the company made us work very long hours even on weekends and holidays. Furthermore, the work environment was toxic and hostile. Gradually, my health deteriorated due to burnout and excessive workload. Finally, I had enough and I took an early retirement from that unforgiving, ruthless industry!
If you like typing on excel and “evaluating” just be an engineer…might even make more per hour and there’s a good chance you’ll be solving actual problems in the world
So true, as an engineer. The project management, PowerPoints, excel spreadsheets are all nothing college could have ever prepared us for. But engineering is the best job hands down because after all the paperwork, math and drafting, you get to see your hard work come to reality. And the 6 figure salary and 4 ten hour shifts are great too...
As someone who has sent RFPs out to firms, I feel so bad about the man-hours put into a failed bid, especially if I know that the person making the decision will only look at price over quality
Yeah. Smaller firms especially who try to go upstream to compete with bigger players spend so much time on pitches that never go anywhere. But they have to because it's a numbers game sometimes if you're making good quality pitch materials
All of the most lucrative jobs involve being a top notch sales producer. Learn how to sell and you can pick your industry. Just remember: the biggest pay requires most work. I learned that being a stockbroker in the 1980’s.
Amazing video, any recommendations on the steps to take to learn some of the technical skills associated with a entry level job into IB? I'm graduating with hopefully a 1st in a Bachelors of Economics and Finance (Highest grade in UK) but feel like my degree didn't contain a lot of the skills, and I failed to get an internship in my second year summer. Should I be looking for internship oppertunities at boutique's? Not sure whats the correct or available paths :) Thanks and keep up the great content
If you've already gone through school and are preparing for interviews, I'd highly recommend Wall Street Prep. They have a very good self-guided course on learning technicals and being able to nail your technical interview questions.
@@HowMoneyWorks Have you heard of Corporate Finance institute’s FMVA certificate? CFI’s FMVA & Wall Street Prep are two programs that I keep running across. I’m heavily considering the FMVA program. If you’re aware of it could you share your thoughts?
@@ritzkola2302 I can't speak to the quality of it. I think highly of CFI though. It looks like you'll get a decent understanding of modeling at the very least, but not so sure how specific its scope is towards investment banking technicals
I visited a friend in NYC a few summers ago who was an IB intern at Goldman Sachs. He would get up at 6:30am and come back to his apartment from midnight to 1am. I do not envy that lifestyle one bit.
Yep. But there's also this pressure of not showing any vulnerability because then you look like a coward. So that's why it's hard for many to quit, even though they know there's a lot of opportunities on the other side.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
I managed to position myself as what I can only describe is a series of very fortunate events over the last 8 years and I now find myself managing a portfolio of about 2.6 billion. I live in a state of constant stress. My Fitbit tells me I sleep 1-3 hours a night. I feel both lucky to be where I am, but also helplessly locked into this role. Best way I can describe it is that I simply don't feel anymore, I am not angry, sad, or happy; I just am. Listening to this video was like living 3rd person in my own shoes. Eerie.
I didn't quite understand investment banking from this video. Is it like more a more involved sales? And if the money you're making could you save it up for something like F.I.R.E? XD
Literally Patrick Bateman's monologue at the beginning of American Psycho after reading "I just am." Haha. But I hope you do find something in life that'll reset everything man.
All you need is pure intention and a bit of practice. The more you focus on what you want to manifest, the more likely it is to happen. Keep your mind open and be willing to receive whatever it is you’ve been dreaming of and it’s possible if you believe in yourself!! Thanks for the words..
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money averaging about $2 million was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
@@kashkat987 The idea of a financial advisor may seem controversial to some, but according to a recent investopedia survey, the demand for financial advisors has increased more than 41.8% since the pandemic, and based on my personal experience, I can say with certainty that their diversification skills are top notch. From a slow $85k lacking growth stocks I raised almost $510k in 11 months.
I am being guided by "LISA ELLEN SHAW" who I found on a CNBC interview where she was featured and reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.
@@sommersalt88 This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Thank you very for explanation. I finally understand what they do. Please make a video explaining what securities are and how do people make money buying and selling them. I have a lot of difficulty understanding them since it's something so abstract.
Securities is a fancy word for financial products. You have equity securities, debt securities, etc. A bond is a debt security, a share of Apple stock is a debt security. There are other types of more complex financial products/securities in the market like options, or convertible debt, or bonds with attachable warrants, etc.
Great video! Thank you for clearing this up (context, college student unsure what to do). Do you think it will be possible for you to elaborate on your own journey to IB? It will be super interesting to hear (also, is it true that IB only recruits from Ivy League or schools like that?)
I will make a video on it soon when I launch my personal channel. Ivy League helps, but it's not a requirement. Even if you don't make it to BB straight from school you can get there through a good MBA program or by working your way from boutique -> regional bank -> elite boutique or BB
No the Ivy League requirements are loosening, tech has taken a lot of these jobs over the years. I know someone in Houston that is 21 y/o, studied at UH under their IB program, finished in 3 years, and placed with one of the top 5 IB banks in energy division here in Houston.
IB recruit from a variety of schools (public and private), but with a focus on Ivy League and top tier public schools. Typically the process starts at On Campus Recruitment (OCR) acting as a direct pipeline into the various IBs for full-time and internships positions. However, it's not uncommon for a non-Ivy or top public school students to get in via networking or plain ol' nepotism. I seen people from all walks of life join (engineer, liberal art, or comm major). Just gotta pass the technical interviews to prove you know your materials.
My brother got picked up by Goldman out of SDSU, he had done a fuck ton of internships at various other investment banks all through college He left investment banking to be the CFO of a large air conditioning company and got a small share of equity as they’re family owned planning to go public soon
The questions you ask, and the manner in which you approach possible answers, is truly exceptional. Your channel has to be one of my favourites! Thanks for the breakdown :)
Something I think you skipped over that I would highlight as someone in FP&A is that when we're trying to buy or sell a business, we (corporate finance) are already working full-time at the business, and organizing and answering the thousands of pages of requests in due diligence without anyone else would be a nightmare. It's also a reason why the hours are so long in IB; because if there's questions we need to discuss they probably gotta call me outside of office hours, add on timezone differences and it's not unusual to be talking to someone in new york at 9pm while I've just gotten home on the west coast.
Sir this is just a suggestion and a request please do try to include the links of the sources from where one could further study and research about the topic, it would be more beneficial in educating the people, and for broader audiences like research scholar, entrepreneurs, people interested in knowing more, and students, it may even help you get a few more sponsors (like the website you will use for research) for your time and effort, it's a win-win for both you and your viewers, please do consider. Thank you.😊 Really need these contents.
I know some investment bankers that nearly don't work... I was under the impression that I made the wrong career choice. I am an engineer, with two MsC and chose consulting to get a good salary and move up quickly. I'm an anomaly, I'm supposed to work strategy but I actually found a small niche in my giant multi billion dollar consulting company where I can manage R&D project. I'm even coding with the devs sometimes. I already didn't regret my choice, but now even more !
8:41 So, wait, I'm studying this subject, and we were taught that this is not how it works. When a company issues new shares, the value of the old shares will decrease, BUT the existing shareholders will also hold stock options, allowing them to buy the new shares or sell the stock options to someone else. This means that creating more shares does not effectively dilute the ownership stakes of an investor.
Don’t forget about being a financial planner on annual commission. They just collect mail from the mutual funds they put your money in. Just a sleazy middle man.
@@mememan9890 wouldn’t say so. Most just take the 1% annual commission on the portfolio( $5,000-$10,000+ for a good retirement) and do nothing in regards to money management/ investment. The mutual fund/ etf, etc they’re putting your money in is already being “managed” by these “investment bankers”.
@@blazehall8086 Management consultants are similar. The good ones actually help manage the project, the majority are bad and just pretend to be helpful whilst holding up the project to tick the box.
@Blaze Hall they're actually investing the money. If you asked a normal person they would panic and just someone else do it for 1%. Plus they give general financial advice as well.
Investment selection is not what you need planner for. Investment drawdown, estate planning, asset allocation and tax strategies are among the areas a good financial planner will work on with a client. 99% of people are better off indexing their investment portfolio during the accumulation stage.
Good book on this topic is Liquidated: an Ethnography of Wall Street (Katherin Ho). She works in finance and also is an anthropologist. Surprisingly readable book.
I worked in IB but on the risk side. I climbed from an analyst level to now associate. They are currently vetting me for VP. Please feel free to ask me anything. A quick disclosure is that if you want to succeed and climb the ranks quickly like I did, you have to show unparalleled levels of urgency. That’s how you quickly rack up so many hours in a week. The most I’ve done is 60 hours in a week. I’m the type of person that wishes I can do 80-95 hours, but I know most people are not like that.
@@hussnainsamee2603 There are two pathways that I can think of that lead to the business side of IB. You can either start on the credit side or KYC side of things. Once you get a good understanding of how the bank operates and you get to know the key players from the business, it may be easier to transition to the business side. I think in order to get accepted to the business side of IB as a college grad you need to be top of your class with outstanding grades, big personality, and a lot of recommendations. If you are very business oriented and know your products well, you can quickly grow out of a compliance, tax, or credit role right into the business side.
Hey Rob, I would love to connect and hear more about your experience especially now that you are moving up to VP. I’m actually sophomore in college studying finance and I go to school in New York City. I actually interned for JP Morgan Asset Management last year on the real estate Americas group. I Would love to get some insights on how I can Pivot my way into IB from a non target school as I am currently going through my recruiting process it land a summer analyst role for 2024. If your free of hop on a call, that would be perfect. Thanks!
@@dewanwasif1833 Summer analyst programs are a great way to get in. Usually financial firms keep 1 or 2 people from an analyst program if they are seniors. IB sounds cool, but there are a lot of other groups that essentially do the same thing. Global markets, corporates, investment banking, structured finance, etc. By doing an analyst program you are years ahead of your competition.
I have done MBA in Finance. I really passionate about Investment banking profile. But unfortunately i did not get any opportunity and now i am working in Finance and Account profile having 7 years of experience. Can you please help me to get into investment banking ? What i should do ? Pls guide
😂Likewise!- but appreciate the fast paced, precise narrative in explaining what one segment of the largely indecipherable financial industry does. Needs a dozen more repeat viewings, till I get into the "Aha!- so that's what it means!"
There are fields that have no less (or even more) stress, but not paid even close as good as this one. I work in scientific field and earn 4-5 times less, while require to have a lot of interdisciplinary knowledge.
Nobody in practice actually uses the term Investment Banker btw. I have brief experience as a sell side analist (specialization being European Real Estate). I would say our weeks were more like 60 hours but could become more during stressful periods like with a marketplacement or IPO. However, if these things went well, the bank would treat us to a "wild party", meaning a dinner at a high end restaurant and a VIP table at a popular club.
Not nowhere near investment banking BUT I did work in the commercial insurance industry where long hours and constant communication with clients was a requirement. The good money was not worth the stress. I can’t imagine what the hell investment banks go through.
It is interesting how similar this job sounds to the purchasing of major capital equipment. I've worked a few multi million dollar capital investments in the past and the process itself sounds similar
I know many thrive in that kind of environment. I just wouldn't have been one of them, though with a B.S. in Physics that led me to a 33 year career in software engineering, some of those same pressures and long days were there, but certainly no where near as intense! I retired from my 40 years in small real estate investing where no one bothered me, and now trade currencies, and no on bothers me. I like that!
I'm really shocked that investment banking firms have not integrated an arcology type of in office living as it would VASTLY increase productivity and reduce churn on both ends. I see now why Japan has developed vending machines and pod hotels to the level of intensity and detail that they have. While I don't condone this type of work and am VEHEMENTLY against it, it would just make sense to me to take a few levels of my high rise building and turn them into places that have sleeping pods, showers, exercise rooms with open windows, expanded vending machines with built in cooking, supplements, and even automated dry cleaners all deducted from your paycheck of course, but free to use if you hit certain metrics and get your bonus. This kind of lifestyle is inhuman especially with AI soon to take over this entire segment (probably remove 80% of the staff required or more).
Extremey well done. I had an opportunity to go into investment banking until my dad got sick and I chose to take care of him. Always wondered what it would have been like
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multimillionaires.I pray that anyone who reads this will be successful in life💲
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this
The best example is a real estate transaction with multiple buyers and multiple real estate agents. The difference is that the deals and volume is much bigger when dealing with the investment banking side. I have one I am working on now that will be a 2 billion dollar purchase of a client’s business.
Pretty good synopsis, personally I'd just start the firm and look for companies that I could raise money for. Private equity generally pays 11% commission last time I checked (I forget if that was what the broker got or what the company paid.) An easy way to think about it is if you take a billion dollar company public, you might actually raise 200 million; that can be $10-40 million in fees (your commission should be $1m-8m for such a deal.) Of course, you have to get it in front of people willing to invest that much and justify the billion dollar market cap; once it's been trading for a few months the market will have decided if it's really worth a million (or more/less.) Of course, you can raise capital privately or structure debt financing; however I suspect the pay on a $200 million dollar loan isn't nearly as good as raising $200 million in equity.
I thought I was making way less at my big tech job in Seattle than you guys in NYC, but on the other hand I only work 20-30 hours a week so it balances out :)
If you're making $123,000 but it's from 95-hour work-weeks, that's roughly $25/hr. Above-average? Yes. Below almost every entry-level STEM job? You betcha.
What I don't understand is why investment banks, hospitals, and law firms etc are working people such long hours. Why go out of your way to hire the best and brightest...only to intentionally kneecap them with sleep deprivation, exhaustion, and fatigue to the point that, at best, their performance is mediocre and certainly far below their full potential if they well-rested. As a member of the general public, I don't want people on my medical team, legal team, or investment banking team working on my business after a sixteen-hour work day or in the middle of a 90 hour work week. For everyone's sake, just hire two people at half the pay and hours to do these jobs. NO ONE in any profession should be legally permitted to work more than 50 hours a week.
This is what I'm a big proponent of. I definitely think there could have been more dividing-and-conquering with CIPs, pitches etc. But that's more mouths to feed and smaller MD bonuses.
@@HowMoneyWorks I'm sure the associate would take a paycut in order to have even another person to share the work load with. Id rather make 80-90k a year and work 50 hours then work 80 hours and make 200k.
As a sort of healthcare professional, I would say hospital work doctors to death because medicine is as much an art as a science. You really need ton of experience, especially for the surgeons.
I keep telling people that there's a different between Lucky and management, some people got to be millionaires luckily but couldn't manage it well and went back to nothing but some managed some thousands and became great millionaires and More, the difference is the riches is not having money at hand or in bank but true riches begin from the brain, there's no way someone can superintendence wealth without being wealthy in the brain!
That's true dear, I have to calm and learn from a professional market analyst after blowing up my forex account twice, but it's been cool since I've been trading under Jack Aiden's mentorship.
I'm surprised to hear that some persons here employs Mr Jack Aiden trading strategy! I found him in a couple of 12 weeks ago and it's been a great pleasure working with him. cheers to be part of his winning team
@@theoneaboveall1677 level/ duration/ salary only average Analyst (2) - $42k Associate (3.5) - $56k AVP (3.5) - $74k SVP (5) - $125k Dir (7) - $175k Bonuses are highly subjective and are based on output, personal revenue, firm net income, and overall business environment. Nobody took bonuses during March 2020 in lieu of firm making no layoffs for balance of the year. 2021 was lien in my sector, 2022 was good, not great, and in 2023 despite a great year for my team, the firm had losses, and payouts kinda sucked. I've had bonus that were 100% of my salary, and 10%. Stars need to align for the prior, and it is hard to meet goals the year following a great year.
I don't have official stats but everyone in this sector I talked to/heard about from my brother treats it as a temporary solution, either dreaming of the legendary "retirement in the 30s" or as HMW says - as a springboard to move elsewhere
@@HowMoneyWorks Right, assuming the capital markets/M&A deal flow doesn't crash hard enough to reset the PE recruitment cycle. Then you go to PE and realize you're not getting carry until you're 50 and quit and then you don't know wtf to do after PE LMAO
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
You're right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy, you must be a skilled practitioner.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
Angela Rodriguez Elias is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Investors should exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
Ai will never get rid of m&a people don't trust ai with two things the law and finances. Ai cam only help tis profession. Not replace it. Many other finance jobs sadly will be replaced I do agree
I had a 7 figure salary before I was 30 but it included the digits after the decimal
Mine was 6 figures hourly 20.0000 😂
Me too 😂
@@michaelharris8598
00.0000000000💀
Yes me too, 30.000,1, I'm a high-roller
I have a 10 figure salary but in Zimbabwean dollars.
Sitting at my desk listening to a guy explain my job as I do my job
Wait, shouldn't you be doing your actual job?
Don't you have logos to align?
Watched the whole video, still don't understand the slightest of your job. Yeah, it's stressfull and a lot of work a week, that's about it.
Your job sounds boring af. Thank Christ I dropped out of school and became an entrepreneur.
@@256mo creating financial models to show to potential investors why that is a good investment. Lots of money on the line and lots of moving goal posts so your attention and urgency is paramount. Not that fancy just time and attention intensive
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments..
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services,... She’s quite known in her field, look-her up.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better.
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Investment advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses, minimal insurance, cut utilities.
@@Erinmills98 I think the current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
@@AstaKristjan Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k.
@@IrenaDolinsek Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls
@@AstaKristjan Kathleen Yanelli Carole She's a reputable tutor who showed me that profits can be produced in both bull and downturn markets. She talks about investing, insurance, making sure your retirement is well-funded, and searching for methods to create a volatility buffer for investment risk, among other topics.
Thanks for the specifics! basically investment bankers are the real estate agents of complex business transactions. So the incentive of investment banks is to increase transaction volumes and reduce transaction time.
That was my broad and very simplified understanding as well!
Nailed it!
Yes but you can use the inside information to profit yourself (example: a real estate broker that is also a real estate investor)
@@uberhaxonova no you can't, do this in a bank and you're going to prison
@@THATSr1ghtS1R it's completely legal as long as your not working for the company, only as a banker
my previous flatmate in London worked in investment banking, he worked so much that he had to ask "permission" to go out on a weekend and not carry his laptop. He was 24/7 on call. After 3 years of that shit he moved to Switzerland to a fantastic role there without the pressure, I guess it paid off
Ohhhh yeah. I forgot to mention this in my video. We had "protected hours" which was basically only Saturday where no MD could ask you to do work unless they got permission from the IB division lead.
By the way, the IB division lead never said no to an MD's request.
@@HowMoneyWorks 😂 Do they have an up or out culture or does it get a bit better once you achieve seniority?
I could work for McKinsey but I want work/life balance.
@@Snoop_Dugg kind of. At the senior level if you're not sourcing deals they let you go.
@@HowMoneyWorks jesus dude.
@@HotepSaoirse They are paid millions of dollars to find deals, if they can't find deals why pay?
My roommate was an investment banker while I was a medical resident. I worked 70~80 hours a week but he was pulling well over 110 hours per week. Was never home. He did get paid twice my salary though lol
He also did absolutely nothing useful for humanity
@@joshuaalvarez7435 he doesnt need to do anything useful for humanity, especially when he’s getting paid so much
@@joshuaalvarez7435 who cares about “being useful for humanity”, dork?
@@joshuaalvarez7435he absolutely did by driving the economy and being an employee of the company which is part of the human civilization .man you people r dumb
24 hours times 5 days is 120 hour.. so you sleept 2 hours pr night?
My uncle was the CFO of an oil company and he mentioned to his IB friend they were thinking about doing some kind of deal. He said that was late Friday afternoon...
...then Monday rolls around and he checks outside his door and there was like a 100 page deck about why they should work with them. He laughs about the story cause he literally just mentioned it casually and wasn't even seriously considering it but some poor junior analysts must've worked all day and night all weekend long to get that useless deck made for him
😂😂😂😂😂
Nooooo😢
This explains investment banking in a nutshell 😂😂
I lost my dad about six months ago and I'm going to receive some money soon. Would it be wise to grow my money in stocks for a few years while I'm in college and then invest in rental properties afterwards, or should I start with real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem pricey, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s 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 $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
This explainer cleared up a blind spot (lot of unknown unknowns for me in this vid) of a pretty integral part of how our society functions
I learned in college that the market for options is like 3 times the world GDP. I didn't even know what options were before that, and most people don't know. The importance and ignorance around the financial world is really crazy. It should be taught in schools.
Yep. At the end of the day, someone needs to help company founders sell or go public. Otherwise there's no point in holding equity.
I went the boutique route in IB. Everything is just as described but we only did 1-2 deals at a time and it was all success based. No close equals no pay. It was a fun ride for 18 months and pretty good money but yeah, being on standby 24/7 for those calls for months on end is mad stressful.
How many hours a week did you work ?
Haven’t worked in IB (but do work in an adjacent career) not counting commuting, usually work about 60 hrs/wk. heaviest was probably around 80-90. Lightest around 20.
Recently interviewed at an investment bank for a sr role… they wanted me to take an exam from 8pm to midnight. So it seems a bit worse than my schedule I detailed.
@@alexgeezy5466 The actual hours weren’t too bad, about 30 hours a week. We chose an office by the beach so we spent quite a few hours having afternoon drinks and watching SoCal sunsets.
Crunch time would get close to big bank craziness around 70-90 hours a week, but it’s really all about the need to be constantly ready to take calls from clients, buyers, lawyers, banks, etc. That wears you quick.
@@Vlad_183 That seems like some pointless hazing of new hires, especially for a senior role.
@@MichaelChengSanJose so at crunch time it just sounds like you can be at home chilling and get a call so then you gotta start working on something
I met a second year investment banker and he said it’s true they do 95 hours a week BUT it’s because they count all the restaurants they go to and the meetings in 5 star hotels and golf courses. They consider playing 18 holes of golf working etc. he said to me he loves his job because 50% or more of the work is fun or he’s moving around, flying somewhere (which again they count). Meeting people
Wow, at what country does he work
I work in IB myself and what that guy told you is absolute BS. I’ve been pulling 90-100 hour weeks for the past 6 months and the only time I’m
Not at my desk are 30 minutes for lunch and an hour for dinner. Analyst years are brutal.
yes those investment bankers do exist. those are called the kid of a really rich and important client; and those kids are basically just there because daddy / mommy has a lot of money, and nobody likes those people. with that said, the world isn't really fair, and unfortunately, those kids do get hired, and everyone else has to pick up their slack. usually those kids stay a year at the bank until the hostility from everyone else gets too high; then they are "trained" enough so they leave to join their parent's hedge fund and become even more rich.
the only other time this happens is when you join as an intern. just like marine corp recruiting, they really sell you the dream when you're an intern. often times giving you fancy dinner and letting you have very little world while allowing you to do all the fun stuff like traveling and flying. once they lock you into a full time offer, all of that disappears very quickly. and you're sitting behind a desk chained there for 110 hours a week.
i remember pulling 40 hours in a single weekend alone after back to back all nighters. then i realized, in a single weekend, i basically worked what an average person works in a week. i also remember walking back to my apartment at 7am in the morning to shower; so i can get back to the office by 8am as mandated by the director of the team. walking against the flow of traffic to my apartment to shower and then walk back to the office, was one of the sadder days of my life. really made me question wtf i was doing with my life.
@@levitation5129 I'm not in banking, but I just don't understand why so many hours, I mean when dio you sleep, relax eat, do your laundry, clean your house, it just doesn't make sense how you could you live
@@nevilleabbott2330 I'm not in IB, but in public accounting. I put in "only" 85-95 hrs a week. It sounds like a lot but when you're working under high pressure, time flies by quick and feels like there's not enough hours in the day to get our work in.
banco/banca means counter, desk or basically any kind of horizontal plank really.
That's also where the term bankrupt comes from. Banca rotta, meaning broken counter, was the most common result after telling a medieval deposit holder you don't have his money anymore.
And uaually these desks were placed near a port, like in Amsterdam or Venice as they started out funding trading expeditions to new continents.
College Sophomore here, thank you so much for making this video, now I know I definitely don't want to pursue this career, thanks for saving me from a lot of suffering!
Respect
Don't let me be your only source! Ask around, but I speak from my own experience
It can actually be very interesting and makes you grow very fast. You can do this job for smaller figures but doing less hours in smaller firms / boutiques. First years can be anoying spending a lot of time making and reviewing powerpoints and business plans on excel, but as you progress you get a good understanding on business models, on the players of a certain industry. And it is very fulfilling to feel that you are part of very important strategic decisions for sellers or investors
Also you will get many high level contacts and nice jobs opportunity after ie: business valuation, business restructuring, due diligences, private equity, family offices, corporate M&A, CFO...
It is really worth it in your junior years of your carreer imho
What's the point of making a lot of money if you don't have the time to enjoy it?
@@HowMoneyWorks Can ai do they job
Very informative and valuable video as usual. It’s interesting to know that MDs and VPs spend a lot of their money at country club memberships and significantly rely on wealthy clients to make business deals. I understand why there is so much training for employees not to lie to clients
This was a well written essay and high quality video production. It explained IB in such articulate clarity that no other book or video did before. Not even in-person discussions.
Thanks mate!
im actually starstruck on how you’ve ran this channel on top of your investment banking job. great job
I've stopped banking at around 400K subs. But yeah it was hard.
@@HowMoneyWorks great stuff brother
@@HowMoneyWorks so u worked 16 hours per day, slept 5+ hours, and got 400k subs? That makes 16 hour days sound like it was made up
Because of the US economy's importance to the global economy, its instability has far-reaching implications. In such circumstances, safe-haven assets such as those with high FA and cryptocurrencies provide security. Investors must prioritize asset protection, diversification, and balanced portfolios in order to weather market volatility.
During a recession, investors must understand where and how to distribute capital in order to hedge against downturns while being profitable. If you are unable to navigate the market, speak with an expert advisor.
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?
'Laurelyn Gross Pohlmeier' 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 just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks
Knew as soon as I stepped into the business school that this kind of "traditional" finance stuff wasn't for me.
Wound up going the econ BA->government analyst route and am more than happy with my $200 per actual-hour-worked, never being invited to meetings with our "customers", and turning off my phone at 5pm
turning 20 soon and have been saving money for school if I decide to go. unsure of what career path to try to follow but i am interested in doing finance. any advice
@@ooopppiiiuuummm When picking what to study try to find a balance between job prospects of the degree, what you're good at, and what you enjoy doing, in that order. Your first two years of school are for figuring that out, you can switch majors and still graduate on time, do so before you ruin your GPA AND have to stay an extra year. For hiring fresh grads the main things we're looking at are your grades, what school you went to, and what internships/jobs you had. Also please pass the drug test, you'd be amazed at how many don't.
@@m_waz7945 nailed it. It is hard enough getting through the interview process to be offered a job, but applicants have essentially waisted our time when we send them to drug screening and 30% fail or don't show up.
@@Xander-dx6mw hi there. I appreciate the previous comments you've left and find them valuable. I'm almost 19 & have been studying economics personally & at High school since 15 - it's my passion. I've Taken a Gap year, haven't enrolled in University.
If you were in my shoes how would you break into IB/ financial services industry & differentiate from The Uni Grads?
Kind regards.
bro im going down the ba econ route or the data science route.- how did u become a gov analysit
Extremey well done. I had an opportunity to go into investment banking until my dad got sick and I chose to take care of him. Always wondered what it would have been like
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Quick question: Given the times, would it be better to go into real estates or stocks. I have been confused on the better option and where and how to go about this. Can't seem to find the most appropriate and of utmost importance is also a less time intensive option.
Why not both? With the present economy, you should never forget to diversify. Do not put all your eggs in one basket. As one who has been into Real Estates for as long as I can remember, I made my first million earlier this year from stocks alone (got the services of an expert because I also have time constraints). I also experiment with a couple of other things. Hard to imagine that I had initially refused to try out new possibilities. Good luck.
@@nealquincy122 ...Very sound and realistic. I too have been into both for sometime now and though I won't say I have lost a fortune, I have squandered quite a lot... You mentioned using pros, if its not a problem. do you mind telling who you used or recommending a good one? I could definitely use the help of one right now... I look forward to you replying...
stocks are your best bet atm, the housing market are currently a mess
@@perryty4127 Yeah, I used one but that's cos I'm not so knowledgeable in the field and I battle with time constraints. Not really sure I'm permitted to go into details here, but mine is Abraham Adam Keith, and you could possibly find more through a quick search.
@@nealquincy122 Followed this thread outta curiosity and boom, I know this funny man. Once attended a fundraiser he was also in attendance here in Vancouver,, serious looking man with with a funny accent,, He's in the States though, I doubt he works with non residents,,,
Great segment as always. Kyle does an amazing job boiling down issues in an informative, insightful manner.
The amount of research you do for your videos is astounding
Thanks. This one was based on experience so I just had to open my window of misery haha
@@HowMoneyWorks why do you still do it if you sre miserable? Is it the money or missing better opportunities?
@@Redshock8 i don’t do it anymore!
MD in fixed income at boutique firm here. We don't work that extreme of hours, but MD's work 55-60, AVP's work 65-70, and analysts and associates work 75-80.
Pay can also vary widely, as can bonuses and long term payout. 20+ years in and I feel I sold my soul to the devil.
That still ridiculous 35 overs should be a maximum, hire more employees. Can not believe you defend 80 hrs
@@74_pelicans yeah I don't think you understand, I don't defend it. It is bullshit that I know my coworkers better than my family. My coworkers have had more divorces than weddings in the last decade. As an analyst/associate, I averaged 60 hours from years 1-5. As an MD, part of my job is after hours client meetings, and a lot of long distance flights. I average two flights a week, and include my departure to the airport as my on the clock time. I typically fly out at 6:15 AM (leave my house by 4:30 am) and have meetings until 4 pm, then have dinners or drinks until 9 pm. I'll fly back on the second day and land around 9pm, and will walk in my door by 11:00.
@@74_pelicans They don't want to hire more people because there is no need to. You realize that the people who get hired at these top end IB places are cream of the crop. They could land jobs just about anywhere they want. They could quit IB tomorrow and get another job easily. They CHOOSE to work this hard because it pays what it pays. They could go elsewhere and work much less hours but it wouldn't pay nearly as well right out of college. As the video says, an average performing first year analyst is clearing 200K which is top 5% in the US. How many jobs out there pay that much right out of school? Also, the experience gives you a really good jumping off point to other less time intensive finance jobs like private equity, hedge funds, etc. At the end of the day, the payoff (money, connections, prestige, resume building) are all worth the extreme hours to the people working there.
Curious as to what has made you stick around for so long.
@@HowMoneyWorks Oh I did not get into it because I knew I didn't want that. I also warned people who were going into it to make sure they wanted to work the hours. For those who stayed, it was 100% the money. You get paid better in your first year than a lot of people in their 20th year. No one stayed past the 3 year mark though.
What I don't fully understand about these ruthless hours is the productivity behind the whole thing. As a person who did work 24/7 and sleeping with my mobile in my hand, although in a field that had absolutely nothing to do with IB, eventually I ended up doing a poorer job and making loads of mistakes. After all, getting 3-4 hrs of sleep a day hasn't exactly been the key to success. I mean, didn't they already scientifically proven that a well rested person works better than someone who can't even remember what day it is? Given the amount of money IB are making, wouldn't it be more lucrative to just hire more analysts rather than working a few to death?
The reason it is being done like that anyways is because it comes in waves and speed is of essence. Yes, productivity is shit but poorly done pitch is better than no pitch done in time at all so here is that. IBankers have to be ruthless in scoring transaction before their competitors.
@@fungunsun1plus...cocaines a hell of a drug.
It's insane that you built this channel while also doing this job.
I was going to wait to see if someone caught on to that. Second shop I worked at was around COVID. Deal flow was slow so I was working maybe 50 hours a week. I was doing the editing but when this channel made money I quickly turned to hiring an editor. I was able to write and narrate and still have a bit of free time. I should have just quit after the second shop but my pride got me and wanted to move to a bigger bank. Spent almost a year there then finally quit, but I barely even had time to write and narrate and I was miserable.
I'll make a video on this soon.
@@HowMoneyWorks that must have been rough, however I want to start a investment bank
@@HowMoneyWorks I like how 50 hours is considered a "slow" week in investment banking lol
@@HowMoneyWorks "slow week" is 50 hours? Good grief
@@HowMoneyWorks dude managed to escape from corporate hell with youtube, salutes
I don't think the bad rep comes from the part of matching up the two sides of acquisition and/or refinancing between companies. It comes from the public's perspective of how equity is (mis-)managed and it always being the little guy loosing out like the subprime and such things, the public's perception is that these so called banks always comes out on top what ever the outcome is and the people working there gets big bonuses for screwing people over.
I had no idea investment bankers were basically just realtors but for business
As you get older Pretty much every single role in the world that is well paid like earning millions in a single year as an employee (not talking about being a tech dev) is sales or being a broker.
@@GeneralCormy i'm already old
@patrickn4171 older than old then 😅 even top lawyers need to do business development to sell themselves to get the best clients.
@@GeneralCormyThe people who bring in the money are of course the most well paid.
they as well not a bank they are a "intermedary agency". in other parts of the planet investment bank are part of the moneygenerator by a business bank bcs the BB give themself a credit for buying with just 1% cash cover. and so the BB become a IB.
I can just feel the burn out and stress emanating from this guy's experience
Someone understands my pain!
Same dude. Same. But at the same time it makes me wish I was more of a try hard earlier in my life
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Sincerely it's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Very true, people downplay advisors role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license advisors. Thankfully, I came across someone of practical knowledge, and decades of experience, my stagnant reserve of $325K has yielded nearly $1m after subsequent investments so fa
Mind if I ask you to recommend how to reach this particular coach you using their service? Seems you've figured it all out unlike the rest of us.
My advisor is ‘Kate Elizabeth Amdall’’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks
Before watching:
Making powerpoints at all times of the day/night, so your boss can look good with potential clients.
Also to mention the CIP is marketing material as well. You're marketing yourself to private equity funds to sell their holdings if your team can make good CIPs
A few years ago, I had worked in the Investment Banking Industry and believe me the job was very confusing, difficult and stressful. The pay was good but the company made us work very long hours even on weekends and holidays. Furthermore, the work environment was toxic and hostile. Gradually, my health deteriorated due to burnout and excessive workload. Finally, I had enough and I took an early retirement from that unforgiving, ruthless industry!
I'm going into investment banking sector any Suggestions
If you like typing on excel and “evaluating” just be an engineer…might even make more per hour and there’s a good chance you’ll be solving actual problems in the world
Facts
So true, as an engineer. The project management, PowerPoints, excel spreadsheets are all nothing college could have ever prepared us for. But engineering is the best job hands down because after all the paperwork, math and drafting, you get to see your hard work come to reality. And the 6 figure salary and 4 ten hour shifts are great too...
As someone who has sent RFPs out to firms, I feel so bad about the man-hours put into a failed bid, especially if I know that the person making the decision will only look at price over quality
Yeah. Smaller firms especially who try to go upstream to compete with bigger players spend so much time on pitches that never go anywhere. But they have to because it's a numbers game sometimes if you're making good quality pitch materials
We would get less than 1% response rate on our RFPs. Wasted huge admin hours on them but it's what the boss wanted.
All of the most lucrative jobs involve being a top notch sales producer. Learn how to sell and you can pick your industry. Just remember: the biggest pay requires most work. I learned that being a stockbroker in the 1980’s.
Amazing video, any recommendations on the steps to take to learn some of the technical skills associated with a entry level job into IB? I'm graduating with hopefully a 1st in a Bachelors of Economics and Finance (Highest grade in UK) but feel like my degree didn't contain a lot of the skills, and I failed to get an internship in my second year summer. Should I be looking for internship oppertunities at boutique's? Not sure whats the correct or available paths :) Thanks and keep up the great content
If you've already gone through school and are preparing for interviews, I'd highly recommend Wall Street Prep. They have a very good self-guided course on learning technicals and being able to nail your technical interview questions.
@@HowMoneyWorks Have you heard of Corporate Finance institute’s FMVA certificate? CFI’s FMVA & Wall Street Prep are two programs that I keep running across. I’m heavily considering the FMVA program. If you’re aware of it could you share your thoughts?
same here but in Mexico lol
@@ritzkola2302 I can't speak to the quality of it. I think highly of CFI though. It looks like you'll get a decent understanding of modeling at the very least, but not so sure how specific its scope is towards investment banking technicals
@@HowMoneyWorks Appreciate that!
You forgot to mention excel financial models. As an analyst, this part of the job is just as important (and stressful) as power point decks 😅
Ew lol. In engineering school we all developed a love/hate relationship with excel, I could only imagine the pain of using it for finance.
I visited a friend in NYC a few summers ago who was an IB intern at Goldman Sachs. He would get up at 6:30am and come back to his apartment from midnight to 1am. I do not envy that lifestyle one bit.
Yep. But there's also this pressure of not showing any vulnerability because then you look like a coward. So that's why it's hard for many to quit, even though they know there's a lot of opportunities on the other side.
How long does this torturous period last for and what’s it like on the other side?
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
These chat-gtp bots are everywhere lol
I managed to position myself as what I can only describe is a series of very fortunate events over the last 8 years and I now find myself managing a portfolio of about 2.6 billion. I live in a state of constant stress. My Fitbit tells me I sleep 1-3 hours a night. I feel both lucky to be where I am, but also helplessly locked into this role. Best way I can describe it is that I simply don't feel anymore, I am not angry, sad, or happy; I just am. Listening to this video was like living 3rd person in my own shoes. Eerie.
I didn't quite understand investment banking from this video. Is it like more a more involved sales?
And if the money you're making could you save it up for something like F.I.R.E? XD
You don't have time to listen to UA-cam videos. Get back to work.
You have time to watch and comment on youtube 😂
Literally Patrick Bateman's monologue at the beginning of American Psycho after reading "I just am." Haha. But I hope you do find something in life that'll reset everything man.
@@BudiandLeo He's becoming a schizophrenic sigma male.
Great video! It’d be great to see a similar video about Private Equity or Hedge Funds
I was just thinking about doing a WTF do ____ series. Also, good to know you're commenting on this channel too!
@@HowMoneyWorks I followed this channel first. Great to see you’re diversifying even though you don’t post as often in your history channel
@@HowMoneyWorks please do S&T as well!
All you need is pure intention and a bit of practice. The more you focus on what you want to manifest, the more likely it is to happen. Keep your mind open and be willing to receive whatever it is you’ve been dreaming of and it’s possible if you believe in yourself!! Thanks for the words..
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
My first investment was with Shanita Creswell, it gave me profit of over $80,000 Us dollar...
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money averaging about $2 million was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
@Trevor Ogden My portfolio is still down by 60% and It scares the hell out of me.
@@kashkat987 The idea of a financial advisor may seem controversial to some, but according to a recent investopedia survey, the demand for financial advisors has increased more than 41.8% since the pandemic, and based on my personal experience, I can say with certainty that their diversification skills are top notch. From a slow $85k lacking growth stocks I raised almost $510k in 11 months.
@@sommersalt88 That's impressive! I could really use the expertise of this advisor, my portfolio has been down bad.... Who’s the person guiding you?
I am being guided by "LISA ELLEN SHAW" who I found on a CNBC interview where she was featured and reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.
@@sommersalt88 This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Quite interesting to watch. IB is a relatively unknown world for mundane people.
It's definitely sensationalized as much more evil than it is, but still not a fun thing to do for work in my opinion.
Your videos are literally the best!!!
Thank you!
Thank you very for explanation. I finally understand what they do. Please make a video explaining what securities are and how do people make money buying and selling them. I have a lot of difficulty understanding them since it's something so abstract.
Securities is a fancy word for financial products. You have equity securities, debt securities, etc. A bond is a debt security, a share of Apple stock is a debt security. There are other types of more complex financial products/securities in the market like options, or convertible debt, or bonds with attachable warrants, etc.
Dude get off youtube and go read a book
Great video! Thank you for clearing this up (context, college student unsure what to do). Do you think it will be possible for you to elaborate on your own journey to IB? It will be super interesting to hear (also, is it true that IB only recruits from Ivy League or schools like that?)
I will make a video on it soon when I launch my personal channel. Ivy League helps, but it's not a requirement. Even if you don't make it to BB straight from school you can get there through a good MBA program or by working your way from boutique -> regional bank -> elite boutique or BB
No the Ivy League requirements are loosening, tech has taken a lot of these jobs over the years. I know someone in Houston that is 21 y/o, studied at UH under their IB program, finished in 3 years, and placed with one of the top 5 IB banks in energy division here in Houston.
IB recruit from a variety of schools (public and private), but with a focus on Ivy League and top tier public schools. Typically the process starts at On Campus Recruitment (OCR) acting as a direct pipeline into the various IBs for full-time and internships positions. However, it's not uncommon for a non-Ivy or top public school students to get in via networking or plain ol' nepotism. I seen people from all walks of life join (engineer, liberal art, or comm major). Just gotta pass the technical interviews to prove you know your materials.
@@shengbingao Exactly
My brother got picked up by Goldman out of SDSU, he had done a fuck ton of internships at various other investment banks all through college
He left investment banking to be the CFO of a large air conditioning company and got a small share of equity as they’re family owned planning to go public soon
The questions you ask, and the manner in which you approach possible answers, is truly exceptional. Your channel has to be one of my favourites! Thanks for the breakdown :)
I appreciate this presentation on justifying the pay of investment bankers.
Justified, but also takes years off your life with the stress.
Something I think you skipped over that I would highlight as someone in FP&A is that when we're trying to buy or sell a business, we (corporate finance) are already working full-time at the business, and organizing and answering the thousands of pages of requests in due diligence without anyone else would be a nightmare.
It's also a reason why the hours are so long in IB; because if there's questions we need to discuss they probably gotta call me outside of office hours, add on timezone differences and it's not unusual to be talking to someone in new york at 9pm while I've just gotten home on the west coast.
Great post! I’ve always wondered about this line of work.
Glad you liked it!
Sir this is just a suggestion and a request please do try to include the links of the sources from where one could further study and research about the topic, it would be more beneficial in educating the people, and for broader audiences like research scholar, entrepreneurs, people interested in knowing more, and students, it may even help you get a few more sponsors (like the website you will use for research) for your time and effort, it's a win-win for both you and your viewers, please do consider. Thank you.😊 Really need these contents.
I know some investment bankers that nearly don't work... I was under the impression that I made the wrong career choice. I am an engineer, with two MsC and chose consulting to get a good salary and move up quickly. I'm an anomaly, I'm supposed to work strategy but I actually found a small niche in my giant multi billion dollar consulting company where I can manage R&D project. I'm even coding with the devs sometimes. I already didn't regret my choice, but now even more !
IBM?
8:41 So, wait, I'm studying this subject, and we were taught that this is not how it works. When a company issues new shares, the value of the old shares will decrease, BUT the existing shareholders will also hold stock options, allowing them to buy the new shares or sell the stock options to someone else. This means that creating more shares does not effectively dilute the ownership stakes of an investor.
Don’t forget about being a financial planner on annual commission. They just collect mail from the mutual funds they put your money in. Just a sleazy middle man.
I wouldn't call it sleezy. They're simplifying financial services like H&R Block.
@@mememan9890 wouldn’t say so. Most just take the 1% annual commission on the portfolio( $5,000-$10,000+ for a good retirement) and do nothing in regards to money management/ investment. The mutual fund/ etf, etc they’re putting your money in is already being “managed” by these “investment bankers”.
@@blazehall8086 Management consultants are similar.
The good ones actually help manage the project, the majority are bad and just pretend to be helpful whilst holding up the project to tick the box.
@Blaze Hall they're actually investing the money. If you asked a normal person they would panic and just someone else do it for 1%. Plus they give general financial advice as well.
Investment selection is not what you need planner for. Investment drawdown, estate planning, asset allocation and tax strategies are among the areas a good financial planner will work on with a client. 99% of people are better off indexing their investment portfolio during the accumulation stage.
Good book on this topic is Liquidated: an Ethnography of Wall Street (Katherin Ho). She works in finance and also is an anthropologist. Surprisingly readable book.
I worked in IB but on the risk side. I climbed from an analyst level to now associate. They are currently vetting me for VP. Please feel free to ask me anything. A quick disclosure is that if you want to succeed and climb the ranks quickly like I did, you have to show unparalleled levels of urgency. That’s how you quickly rack up so many hours in a week. The most I’ve done is 60 hours in a week. I’m the type of person that wishes I can do 80-95 hours, but I know most people are not like that.
As a college freshmen aspiring to do accounting and finance from pakistan. What are my pathways to IB in the US
@@hussnainsamee2603 There are two pathways that I can think of that lead to the business side of IB. You can either start on the credit side or KYC side of things. Once you get a good understanding of how the bank operates and you get to know the key players from the business, it may be easier to transition to the business side. I think in order to get accepted to the business side of IB as a college grad you need to be top of your class with outstanding grades, big personality, and a lot of recommendations. If you are very business oriented and know your products well, you can quickly grow out of a compliance, tax, or credit role right into the business side.
Hey Rob, I would love to connect and hear more about your experience especially now that you are moving up to VP. I’m actually sophomore in college studying finance and I go to school in New York City. I actually interned for JP Morgan Asset Management last year on the real estate Americas group. I Would love to get some insights on how I can Pivot my way into IB from a non target school as I am currently going through my recruiting process it land a summer analyst role for 2024. If your free of hop on a call, that would be perfect. Thanks!
@@dewanwasif1833 Summer analyst programs are a great way to get in. Usually financial firms keep 1 or 2 people from an analyst program if they are seniors. IB sounds cool, but there are a lot of other groups that essentially do the same thing. Global markets, corporates, investment banking, structured finance, etc. By doing an analyst program you are years ahead of your competition.
I have done MBA in Finance. I really passionate about Investment banking profile. But unfortunately i did not get any opportunity and now i am working in Finance and Account profile having 7 years of experience. Can you please help me to get into investment banking ? What i should do ? Pls guide
Finally a proper explanation! Most other vids ive seen are jargon salad meant to confuse or sell product.
I've heard Silverman Sachs pays somewhat lower than their famous counterpart, but their work life balance is correspondingly better.
I didn't understand shit, being from another profession and all, but this feels like a good informative video
Hah. I appreciate it.
😂Likewise!- but appreciate the fast paced, precise narrative in explaining what one segment of the largely indecipherable financial industry does.
Needs a dozen more repeat viewings, till I get into the "Aha!- so that's what it means!"
Like most jobs in life, High paying jobs give out good for money for a reason. In this case, it is insane stress that justifies the money.
everyone at ucla said they were gonna be investment bankers only to get rejected from every bank and sell insurance. highly competitive
There are fields that have no less (or even more) stress, but not paid even close as good as this one. I work in scientific field and earn 4-5 times less, while require to have a lot of interdisciplinary knowledge.
Please make a video explaining the economy of prisons (and why Dr. Michael Burry is investing in them). Thank you!!
Nobody in practice actually uses the term Investment Banker btw. I have brief experience as a sell side analist (specialization being European Real Estate). I would say our weeks were more like 60 hours but could become more during stressful periods like with a marketplacement or IPO. However, if these things went well, the bank would treat us to a "wild party", meaning a dinner at a high end restaurant and a VIP table at a popular club.
Analist lol
Not nowhere near investment banking BUT I did work in the commercial insurance industry where long hours and constant communication with clients was a requirement. The good money was not worth the stress. I can’t imagine what the hell investment banks go through.
It is interesting how similar this job sounds to the purchasing of major capital equipment. I've worked a few multi million dollar capital investments in the past and the process itself sounds similar
I know many thrive in that kind of environment. I just wouldn't have been one of them, though with a B.S. in Physics that led me to a 33 year career in software engineering, some of those same pressures and long days were there, but certainly no where near as intense! I retired from my 40 years in small real estate investing where no one bothered me, and now trade currencies, and no on bothers me. I like that!
I'm really shocked that investment banking firms have not integrated an arcology type of in office living as it would VASTLY increase productivity and reduce churn on both ends. I see now why Japan has developed vending machines and pod hotels to the level of intensity and detail that they have. While I don't condone this type of work and am VEHEMENTLY against it, it would just make sense to me to take a few levels of my high rise building and turn them into places that have sleeping pods, showers, exercise rooms with open windows, expanded vending machines with built in cooking, supplements, and even automated dry cleaners all deducted from your paycheck of course, but free to use if you hit certain metrics and get your bonus. This kind of lifestyle is inhuman especially with AI soon to take over this entire segment (probably remove 80% of the staff required or more).
Extremey well done. I had an opportunity to go into investment banking until my dad got sick and I chose to take care of him. Always wondered what it would have been like
You should make a video on how hard it is to start a successful hedge fund
Wildly insightful. Thank you
Very informative! Thank you!
Glad you enjoyed it!
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multimillionaires.I pray that anyone who reads this will be successful in life💲
You are so correct. Save. Invest and spend for necessities and a few small luxuries relatives to total assets ratio
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this
you guys are right Fx trading is surely a lucrative way to invest whether you want growth, leverage, stable income or something in between
to be a successful person in life require him or her of hard work and times.
I've seen different people talking about this Mrs Melissa price MP, she must be very amazing for people to talk this good about her.
Don’t mind me just boosting the UA-cam algorithm
Appreciate it :)
The best example is a real estate transaction with multiple buyers and multiple real estate agents. The difference is that the deals and volume is much bigger when dealing with the investment banking side. I have one I am working on now that will be a 2 billion dollar purchase of a client’s business.
Pretty good synopsis, personally I'd just start the firm and look for companies that I could raise money for. Private equity generally pays 11% commission last time I checked (I forget if that was what the broker got or what the company paid.) An easy way to think about it is if you take a billion dollar company public, you might actually raise 200 million; that can be $10-40 million in fees (your commission should be $1m-8m for such a deal.) Of course, you have to get it in front of people willing to invest that much and justify the billion dollar market cap; once it's been trading for a few months the market will have decided if it's really worth a million (or more/less.) Of course, you can raise capital privately or structure debt financing; however I suspect the pay on a $200 million dollar loan isn't nearly as good as raising $200 million in equity.
Great explanation, thank you for this!
I have a very hard time explaining to normal people what exactly I do when I say I work at an investment bank.
Now you can say I’m just like the realtor but in investment banking. Less flashy
You explained the middle man concept with so much time and other therms later in the game are quickly past through....and hard to follow.
I thought I was making way less at my big tech job in Seattle than you guys in NYC, but on the other hand I only work 20-30 hours a week so it balances out :)
Nice to see a video showing my questionable life choices being pretty much the opposite of whats shown in the video were the better life choices
If you're making $123,000 but it's from 95-hour work-weeks, that's roughly $25/hr.
Above-average? Yes. Below almost every entry-level STEM job? You betcha.
Exactly
Excellent video, I think you did an amazing job summarising IBs ❤
Glad you enjoyed it!
What I don't understand is why investment banks, hospitals, and law firms etc are working people such long hours. Why go out of your way to hire the best and brightest...only to intentionally kneecap them with sleep deprivation, exhaustion, and fatigue to the point that, at best, their performance is mediocre and certainly far below their full potential if they well-rested. As a member of the general public, I don't want people on my medical team, legal team, or investment banking team working on my business after a sixteen-hour work day or in the middle of a 90 hour work week. For everyone's sake, just hire two people at half the pay and hours to do these jobs. NO ONE in any profession should be legally permitted to work more than 50 hours a week.
Ha! I've done 60 hours at a restaurant before. It wasn't so bad, some days are better than others. But I agree anything over 60 is just crazy.
This is what I'm a big proponent of. I definitely think there could have been more dividing-and-conquering with CIPs, pitches etc. But that's more mouths to feed and smaller MD bonuses.
@@HowMoneyWorks I'm sure the associate would take a paycut in order to have even another person to share the work load with. Id rather make 80-90k a year and work 50 hours then work 80 hours and make 200k.
@@iiAR35ii Yep. I agree 100% with that. Countless times that I told myself I would take a pay cut to have more help.
As a sort of healthcare professional, I would say hospital work doctors to death because medicine is as much an art as a science. You really need ton of experience, especially for the surgeons.
This is awesome. Can you do it specifically on private equity
The ability to regulate wealth through the time of economic collapse is true riches.
I keep telling people that there's a different between Lucky and management, some people got to be millionaires luckily but couldn't manage it well and went back to nothing but some managed some thousands and became great millionaires and More, the difference is the riches is not having money at hand or in bank but true riches begin from the brain, there's no way someone can superintendence wealth without being wealthy in the brain!
I agree with you, Wealth can blow away if you don't master money management by giving your idea to investment no matter how much in your possession
That's true dear, I have to calm and learn from a professional market analyst after blowing up my forex account twice, but it's been cool since I've been trading under Jack Aiden's mentorship.
I'm surprised to hear that some persons here employs Mr Jack Aiden trading strategy! I found him in a couple of 12 weeks ago and it's been a great pleasure working with him. cheers to be part of his winning team
How reliable is his signals.
I doubt this could have been explained any better, thanks 👍
Currently getting my MBA because my employer is paying but idk what I want to do with it.
At the very least you should get paid more for having it!
I'd steer clear of IB. 20+ years in and I know my coworkers better than my family.
It's just a magic certificate lol
@@Xander-dx6mw but how much did you make per year on average?
@@theoneaboveall1677 level/ duration/ salary only average
Analyst (2) - $42k
Associate (3.5) - $56k
AVP (3.5) - $74k
SVP (5) - $125k
Dir (7) - $175k
Bonuses are highly subjective and are based on output, personal revenue, firm net income, and overall business environment. Nobody took bonuses during March 2020 in lieu of firm making no layoffs for balance of the year. 2021 was lien in my sector, 2022 was good, not great, and in 2023 despite a great year for my team, the firm had losses, and payouts kinda sucked. I've had bonus that were 100% of my salary, and 10%. Stars need to align for the prior, and it is hard to meet goals the year following a great year.
This is such an interesting video. Very educational love the content
That sounds like an absolutely horrible job.
It is/was. But it's also a springboard for other opportunities.
I don't have official stats but everyone in this sector I talked to/heard about from my brother treats it as a temporary solution, either dreaming of the legendary "retirement in the 30s" or as HMW says - as a springboard to move elsewhere
I can only imagine the wining and dining and palm greasing that happens between each of these steps.
My internship starts June 5th. Can’t wait to align logos and get “pls fix” emails at 3am for the next few months
Good luck. The jump to private equity is only 3 years away!
@@HowMoneyWorks Right, assuming the capital markets/M&A deal flow doesn't crash hard enough to reset the PE recruitment cycle. Then you go to PE and realize you're not getting carry until you're 50 and quit and then you don't know wtf to do after PE LMAO
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
You're right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy, you must be a skilled practitioner.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
Angela Rodriguez Elias is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Investors should exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
Um, they get a bonus for doing what?
Really interesting video! I love the subject, truly refreshing and creative.
Seems like an investment banker is absolutely perfect for an AI to replace
AI will not be able to do all the networking in country clubs
Ai will never get rid of m&a people don't trust ai with two things the law and finances. Ai cam only help tis profession. Not replace it. Many other finance jobs sadly will be replaced I do agree
Great content. Thank you