As one of the top career choices for new graduates, you may be tempted to giveinvestment banking a try. But even if you possess the rare combination of education, experience and enthusiasm that could land you a coveted investment banking gig at abulge bracket firm, here are seven reasons why this may not be the right path for you. (Read more in How To Become An Investment Bank Analyst.)
- You strive for a work-life balance: Investment banks are notorious for their demanding hours, with 100-hour work weeks the norm for entry-level, investment banking analysts. The tragic deaths of three junior investment bankers in recent years has focused attention on the marathon hours that they worked prior to their demise. In response, a few major banks have officially cut the number of hours worked by junior bankers. Nevertheless, in a competitive culture where putting in extra-long hours is regarded as a badge of honor, a 9-to-5 routine is pretty much unheard of. If you strive for a work-life balance, investment banking is not the field for you (see Maintaining Work/Life Balance For Financial Professionals).
- You wilt under stress: Here’s a typical work day for an investment banking analyst: she works frantically into the night and the wee hours of the morning to complete a pitch book, rushes home in the morning to shower and change, and then heads straight back to the office for the meeting. In such high-pressure situations where there are multiple competing deadlines, the ability to not just cope, but thrive under pressure, is extremely important. If you wilt and wither in such situations, you may need to consider a less stressful field than investment banking.
- You have a relaxed approach to life: You don't believe in getting needlessly stressed about anything, and that includes work. You will do your best to meet a deadline, but if it is an entirely unreasonable one, you would speak out and say so rather than working tirelessly to finish it without complaint.
- You possess a rebellious streak: You speak your mind and have a somewhat rebellious streak that prevents you from following orders without question. This may not be welcomed by your investment banking superiors, who are used to unquestioning obedience from their subordinates.
- You do not have the right skills set: You managed to bluff your way through several rounds of interviews and a test or two on financial modeling, but you are far from being a wizard on Excel. Time management is also not your forte, and you have been guilty of procrastination on a few occasions.
- You do not want to be a career investment banker: You do not want wish to spend the next 10 years climbing the investment banking ladder, but would prefer to explore other areas such as equity research or portfolio management. The thought of preparing endless pitch books and presentations for at least the next two years as an investment banking analyst, all for the reward of becoming an investment banking associate, is not one you find very appealing. (Read more in Uncommon Jobs For Your Finance Degree.)
- Money isn't everything: You do not subscribe to the old saying, "Money isn't everything, it's the only thing." While this is not meant to imply that all investment bankers only care about money, the ability to eventually make a lot of it is one of the primary motivators for those who are able to ride out the harsh working conditions. If making money isn't a big driver for you, look to another career. (Read more in The Rise Of The Modern Investment Bank.)
The Bottom Line
If you possess even one of the above traits, investment banking may be a poor career choice for you. But there are plenty of other choices that will be better suited to your personality. Conduct an honest self assessment to find a more fulfilling and rewarding career path.
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
