The Big Short or Margin Call/has anyone here worked in Investment banking

[mr. smoke weed]

Two questions.

Better stock movie about 08? Margin call or the big short? I prefer the Big Short due to Michael Burry aka Christian Bale. Magnificent acting and we'll told story.

Which brings me to my next question, has anyone except @chineebai worked in investment banking? If so, what's it like? @NaijaProdigy Redux I recall you may have....

 

[NaijaProdigy Redux]

Two questions.

Better stock movie about 08? Margin call or the big short? I prefer the Big Short due to Michael Burry aka Christian Bale. Magnificent acting and we'll told story.

Which brings me to my next question, has anyone except @chineebai worked in investment banking? If so, what's it like? @NaijaProdigy Redux I recall you may have....

I was an investment banking analyst right after college at one of bulge brackets in NYC. 2 year bootcamp -- lot of sleep deprivation, alcohol and close friendships formed. Learned out how to deal with nonstop stress, extreme personalities and impossible asks. A program at top shop sets you up really well for exit opportunities.

I transitioned to private equity after that and have remained on the buy-side ever since. Happy to answer any specific questions.

 

[choc_cardigan]

I was an investment banking analyst right after college at one of bulge brackets in NYC. 2 year bootcamp -- lot of sleep deprivation, alcohol and close friendships formed. Learned out how to deal with nonstop stress, extreme personalities and impossible asks. A program at top shop sets you up really well for exit opportunities.

I transitioned to private equity after that and have remained on the buy-side ever since. Happy to answer any specific questions.

What degrees do you have if you don't mind me asking

 

[NaijaProdigy Redux]

What degrees do you have if you don't mind me asking

I studied Economics and Math, but honestly if you go to a target school, they don't care what you focused on.

Plenty of people in my banking program and from my school studied liberal arts, the sciences, etc.

 

[Kyle C. Barker]

I studied Economics and Math, but honestly if you go to a target school, they don't care what you focused on.

Plenty of people in my banking program and from my school studied liberal arts, the sciences, etc.

This is probably off topic, but I have a friend that is interested in getting an MBA at the University of Maryland (Robert smith school). She showed me the tuition price there and it was $88K.

In your opinion is it worth taking out an $88K loan to get an MBA from them? It seems awfully steep.

Thanks in advance.

 

[NaijaProdigy Redux]

This is probably off topic, but I have a friend that is interested in getting an MBA at the University of Maryland (Robert smith school). She showed me the tuition price there and it was $88K.

In your opinion is it worth taking out an $88K loan to get an MBA from them? It seems awfully steep.

Thanks in advance.

Everyone's circumstance is different but I wouldn't recommend it.

Any sense of what she wants to do, how she performed in college and her current role?

 

[MoneyTron]

This is probably off topic, but I have a friend that is interested in getting an MBA at the University of Maryland (Robert smith school). She showed me the tuition price there and it was $88K.

In your opinion is it worth taking out an $88K loan to get an MBA from them? It seems awfully steep.

Thanks in advance.

I'll end up taking out about $80K for my MBA at Georgia Tech.

It'll at least get me in the door at places I can't even get a look from now. There are a lot of consulting jobs that won't consider you without one. Scared money doesn't make money. Sometimes you have to bet on yourself.

 

[Kyle C. Barker]

Everyone's circumstance is different but I wouldn't recommend it.

Any sense of what she wants to do, how she performed in college and her current role?

She currently works at siemens and would like to eventually move up the corporate ladder. Talking aspirations of being a division or regional manager.

I'll end up taking out about $80K for my MBA at Georgia Tech.

It'll at least get me in the door at places I can't even get a look from now. There are a lot of consulting jobs that won't consider you without one. Scared money doesn't make money. Sometimes you have to bet on yourself.

As mentioned earlier she wants to move up the corporate ladder.


I'm an engineer so consultancy and finance is not really my wheelhouse.

I take it MBAs follow the same prestige hierarchy as law schools?

 

[MoneyTron]

As mentioned earlier she wants to move up the corporate ladder.


I'm an engineer so consultancy and finance is not really my wheelhouse.

I take it MBAs follow the same prestige hierarchy as law schools?

For the most part. You've got the M7(Harvard, Stanford, Yale, etc), Tier 1(maybe top 20), a Tier 2(top 50?), and then everyone else.

The evening program rankings are a bit different because the perks available differs between schools. At Georgia Tech I can participate in the same on campus recruiting stuff the full time guys do, but at many schools they don't allow it.

If she's trying not to be pigeonholed at her current job I can see why she's moving in that direction.

 

[dora_da_destroyer]

She currently works at siemens and would like to eventually move up the corporate ladder. Talking aspirations of being a division or regional manager.







As mentioned earlier she wants to move up the corporate ladder.


I'm an engineer so consultancy and finance is not really my wheelhouse.

I take it MBAs follow the same prestige hierarchy as law schools?

If she’s just doing it to check the box and climb in her org, she’s better off finding a company that will pay for her to go. Do an evening or executive program.

 

[Kyle C. Barker]

If she’s just doing it to check the box and climb in her org, she’s better off finding a company that will pay for her to go. Do an evening or executive program.

I believe she was going to go in the evening. Her company only offers her $5500 a year in tuition reimbursement so I guess she could put an admirable dent in the total cost but $88K does seem daunting. Hoping they would pay her generously afterwards.

The executive program does sound like an interesting option. I'll have to pass that on to her

 

[mr. smoke weed]

I'll end up taking out about $80K for my MBA at Georgia Tech.

It'll at least get me in the door at places I can't even get a look from now. There are a lot of consulting jobs that won't consider you without one. Scared money doesn't make money. Sometimes you have to bet on yourself.

That's why I started my own biz with the fiancee.

@NaijaProdigy Redux what was the most soul less/emotion less thing you saw during your IB days?

 

[mr. smoke weed]

She currently works at siemens and would like to eventually move up the corporate ladder. Talking aspirations of being a division or regional manager.







As mentioned earlier she wants to move up the corporate ladder.


I'm an engineer so consultancy and finance is not really my wheelhouse.

I take it MBAs follow the same prestige hierarchy as law schools?

People I work with have MBA's and make less than I do (70s with no college).

I'd say this, does the MBA guarantee that big of an advance in salary at her company? If I got a college degree I'd get zero raise.

 

[MoneyTron]

People I work with have MBA's and make less than I do (70s with no college).

I'd say this, does the MBA guarantee that big of an advance in salary at her company? If I got a college degree I'd get zero raise.

If she works at Siemens I can guarantee she makes more than the 70’s. That’s entry level.

MBA consultants at the bigger firms are starting at 130-170K.

If she’s moving up to that level she’ll easily be in that range.

 

[mr. smoke weed]

If she works at Siemens I can guarantee she makes more than the 70’s. That’s entry level.

MBA consultants at the bigger firms are starting at 130-170K.

If she’s moving up to that level she’ll easily be in that range.

Average is 80k,
lower end is 46.5k
top 75% is 99k
top 5% is 140k

Job Search - Millions of Jobs Hiring Near You | ZipRecruiter