best degrees for getting into investment banking??? (2 Viewers)

[theloorloor]

best degrees for getting into investment banking???

commerce? economics? maths?

 

[stampede]

lol theres an actual B. Investment Banking...

 

[Aerath]

Commerce.

Be prepared to give up your life.

 

[Omnipotence]

lol theres an actual B. Investment Banking...

This sounds logical.

 

[theloorloor]

Commerce.

Be prepared to give up your life.

wth you mean?

 

[hungwell1337]

learn to use google

 

[theloorloor]

lol theres an actual B. Investment Banking...

prove it

 

[stampede]

lol took u the better part of 20 minutes of researching, good enough try i spose

 

[Aerath]

wth you mean?

I guess you know absolutely nothing about investment banking.

 

[kfnmpah]

I guess you know absolutely nothing about investment banking.

true story.
My dad works for the nab- I remember when I was in primary school, he'd be gone before I woke up and he'd come home at like 10pm.
He h8s it. He's recently taken all his long service leave off at once and hasn't worked for 11months. Turned off his work phone, got a new number and didn't give it to anyone from work lol.
He's worked there for over 30 years and is on a ridiculous salary (i'm talking 250k approx) but he absolutely hates it there. Long hours and dealing with all the bureaucracy bull shit does his head in.

If you want to earn a shit tin of money, but have no life and deal with fuckwits all day, work for a bank (worth it, imo)

EDIT: worth it if you can figure out how to get to the 250k salary without working your way up over 30 years, starting as a teller (that's what my faja did, uni degrees weren't so important that long ago)

 

[Azure]

Commerce / Law from USYD or UNSW with minimum D average.

 

[Azure]

Some useful threads.

http://community.boredofstudies.org/showthread.php/151831-Investment-banking
http://community.boredofstudies.org/showthread.php/123342-Accounting-vs-Investment-Banking
http://community.boredofstudies.org/showthread.php/177128-Investment-banking

 

[theloorloor]

Commerce / Law from USYD or UNSW with minimum D average.

why the need for the law?

 

[Azure]

I should have clarified that the degree combination I stated above isn't the only way to get in, but it seems to be relatively popular with young IBers (atleast going off the people I know). I am fairly confident that you will need some sort of double degree to get in though, as it's an *extremely* competitive field.

Also this is a decent recent
http://blogs.smh.com.au/radar/archives/2005/05/fast_track.html

- Money: "People starting out in investment banking have a base salary of $80,000 to $95,000 plus a bonus of up to 50 per cent.

And that was written in 2005. But be prepared to sell your soul lol.

 

[Ritz1024]

Go pure math and combine it with something else (useful/related of course, actually i wouldn't mind pick up another language, like chinese or japanese). And don't go law, useless.

Edit: didn't realise op a troll till i saw the thread he makes.

 

[kfnmpah]

I was talking to my dad this morning about this, just because this thread made me curious.
He said a lot of the investment bankers at his work started out at lower positions and made their way up to the high earning investment banking after 15+years and that most of them studied undergrad economics/business then did a masters (he said the highest earning ones usually have 2 masters degrees). He also said a little bit of background in law doesn't hurt, but it's not necessary.

Totally worth it, though.
He said he knows a dude who gets 100k salary plus 5% commission on whatever he gets people to invest in someone's business. He only makes 1 deal a year, but we're not talking about a 1 million dollar investment (closer to 10's to hundreds of millions of dollars... so 5%of that is >1 million per year)

So, yeah. go undergrad business or economics, start working for a bank whilst getting masters part time and work your way up. Get your foot in the door and your name out there and you won't be far off being a high earning investment banker (easier said than done)

 

[Lolsmith]

1 sale a year jesus christ I'm in the wrong field

 

[kfnmpah]

1 sale a year jesus christ I'm in the wrong field

I KNOW right!
That being said, spoke to my dad, he said they work ridiculous hours and the reports they do for investors are usually 100+ pages and they don't always make the sale. Like someone said above, it's a sell your soul/life kind of job. And the high earners are only high earners because they have like 2 masters degrees so didn't start working til they were 30 and then they have to make their way up. Shit, but defs worth it if you either don't want kids or are a man.
/sexism (i'm a girl, though, so it's ok.)

I'm contemplating going into finance or something for 10 years/until i have a kid (and am hence useless) then I'll go back to what I originally wanted to do which is teaching.

 

[L]

probably fine arts with a maths sub major

 

[L]

at least dis is wot my daddy told me!!!