Accounting vs Investment Banking (3 Viewers)

[ND]

sample size is 1/100 which is 10% if you want to see what it takes to be an executive director at macquarie bank. but thats just playing with numbers

That made no sense to me.

 

[Conspirocy]

That made no sense to me.

look if u want to be prissy and say sample size, when i made a valid point...then its my hypothesis so i get to take the sample size i say its 100 so 1/100 is 10 %

everyone did the same 1st year quant methods course, all your doing is trying to confuse the issue by saying the person i referred to is an outlier. you can try and do that but you would be wrong, look at the edit i made before i saw your post. also you would know that 1 is not a sufficient sample size, so dont try and be smart.

 

[AppleXY]

The paypacket isn't everything, isn't it? I mean like if you are a grad and earn around $6000 in your personal investment account (at call), why don't invest it some where else and achieve great returns, such as FOREX (since I've had 1.2 yrs exp) (with the correct money, risk management and experience) and/or a high-yield investment programs that proved themselves to be stable, bonds (virtually riskless, but no risk no impressive ROI).. and you create yourself a 1-2% return per month in FX (12-24% p/a).. so yea.. paypacket aint everything to me that is, the most important concern should be income stability. Imagine when you are higher ranked earn 300,000+

 

[ND]

look if u want to be prissy and say sample size, when i made a valid point...then its my hypothesis so i get to take the sample size i say its 100 so 1/100 is 10 %

everyone did the same 1st year quant methods course, all your doing is trying to confuse the issue by saying the person i referred to is an outlier. you can try and do that but you would be wrong, look at the edit i made before i saw your post. also you would know that 1 is not a sufficient sample size, so dont try and be smart.

Mate wtf you on about?

I didn't do that one.

Hahah.

 

[Conspirocy]

Mate wtf you on about?



Hahah.

mate i said what i have to say. if u dont get it read it over again. start from ur 1st post.

 

[ND]

:rofl:
Still got no idea. Maybe your first year quant methods course is too complex for me...

 

[Conspirocy]

nah doubt it i can barely remember it, anyway i was prolly talking some sorta shit, who knows im tired, i finished my assignment...yay...bed time

 

[Omnidragon]

'reasons not to do investment banking...workmates, who are disloyal,work against you, and would stab you in the back without thinking twice... you will change as a person, for the worse' - Abused by a banker, were you?

'no your accounting major will not get you into an investment banking role. dipshits' - By an 'accountant?

'Honestly, I just don't see where you go with finance when you leave an IB. I'm asking seriously?' - They usually burn out and become unemployed.

'i'm not sure why people are bagging Big4' - See comment regarding being abused.

'most estimate IB grads to have a base salary of ard 80K + 50% potential bonuses' - I feel sorry for these grads.

'keep telling yourself you're all on track to earning 300k at an IB firm...

this is great... junior grad auditors who think they're on track to a huge IB paypacket... HHAHAHAHAHAH' - HAHAHAHA... ahem... wait.... HAHAHAHAHHAHAHA

'Goldman Sachs is small in aus, nearly 2nd tier' - yup, puny little bank.

'You literally work 7am till at least 10pm everyday. great life' - Um... it's 7am-2am.


'the "pinnacle" job offer was Mac bank's $90k' - ........

You need to be a suitable candidate that is appropriately qualified, has the right mix of skills, intellectual ability, etc. Its the same for any job you apply for . . .' - Stop talking nonsense.

'lol listen to you grad smartasses...

who am i?

someone who has actually been there and done that "succesfully".... unlike naive grads who have been completely brainwashed into thinking they're king shit at the firm.

my problem is smartasses like you lot, who spread misinformation about what is possible.

i want you kids to look back on this thread one day, and realise how dumb and naive you are.' - HAHAHAHA... ahem... wait.... AHAHAHAHAHHAHAHA

 

[ks21]

Just wondering, how do management consulting grads compare with all this? Ive heard the salaries are just as much, if not more than Ibers. How many grad positions are available a year?

 

[ND]

MC pay is lower (although they work fewer hours) and there are fewer places available.

 

[lizbon]

MC pay is lower (although they work fewer hours) and there are fewer places available.

I think they're about the same in terms of remuneration, maybe a little lower because IB's have a better bonus scheme.

It's very difficult to get into managment consulting straight outta uni, competition is pretty intense to get into places like BCG, Mckinsey's and Bain.

 

[turtleface]

'reasons not to do investment banking...workmates, who are disloyal,work against you, and would stab you in the back without thinking twice... you will change as a person, for the worse' - Abused by a banker, were you?

'no your accounting major will not get you into an investment banking role. dipshits' - By an 'accountant?

'Honestly, I just don't see where you go with finance when you leave an IB. I'm asking seriously?' - They usually burn out and become unemployed.

'i'm not sure why people are bagging Big4' - See comment regarding being abused.

'most estimate IB grads to have a base salary of ard 80K + 50% potential bonuses' - I feel sorry for these grads.

'keep telling yourself you're all on track to earning 300k at an IB firm...

this is great... junior grad auditors who think they're on track to a huge IB paypacket... HHAHAHAHAHAH' - HAHAHAHA... ahem... wait.... HAHAHAHAHHAHAHA

'Goldman Sachs is small in aus, nearly 2nd tier' - yup, puny little bank.

'You literally work 7am till at least 10pm everyday. great life' - Um... it's 7am-2am.


'the "pinnacle" job offer was Mac bank's $90k' - ........

You need to be a suitable candidate that is appropriately qualified, has the right mix of skills, intellectual ability, etc. Its the same for any job you apply for . . .' - Stop talking nonsense.

'lol listen to you grad smartasses...

who am i?

someone who has actually been there and done that "succesfully".... unlike naive grads who have been completely brainwashed into thinking they're king shit at the firm.

my problem is smartasses like you lot, who spread misinformation about what is possible.

i want you kids to look back on this thread one day, and realise how dumb and naive you are.' - HAHAHAHA... ahem... wait.... AHAHAHAHAHHAHAHA

lol I nominate this for funniest post of the month

HAHAHAHA... ahem... wait.... AHAHAHAHAHHAHAHA

lol

 

[ND]

I think they're about the same in terms of remuneration, maybe a little lower because IB's have a better bonus scheme.

It's very difficult to get into managment consulting straight outta uni, competition is pretty intense to get into places like BCG, Mckinsey's and Bain.

A friend of mine got into Bain - their pay is significantly less.

 

[lizbon]

A friend of mine got into Bain - their pay is significantly less.

lol, oh right, how much is a typical starting salary at Bain?

what sorta marks do you think u have to have to stand a chance at getting into these firms? i know BCG stipulates you have to be within the top 5-10% of your cohort.

 

[turtleface]

did I mention there are HEAPS of ex-big 4 in consulting too? (Not surprising considering some of the top tier Management consulting companies are ex-Big 4 divisions)

lol, oh right, how much is a typical starting salary at Bain?

what sorta marks do you think u have to have to stand a chance at getting into these firms? i know BCG stipulates you have to be within the top 5-10% of your cohort.

i think its like law. A bitch to get into at ugrad level, but easy as pie at graduate level/transfer in 1st year
With Managemnet consulting and stuff, its very difficult to get in at graduate level, some of the top places take like 1 person. But once you have some experience in HR, Marketing, IT, Engineering, Science, Accounting, Finance, Actuarial etc I think theres much more opportunities.

I know that about 2 of my accounting lecturers last semester were ex big 4 audit and then went to bcg etc. (they said it was better than big 4)

 

[velox]

http://soft.thomson.com/pdf/financial/league_table/de/98768/3Q2006_Equity_Capital_Mkts

http://soft.thomson.com/pdf/financial/league_table/de/98768/3Q2006_Debt_Capital_Mkts

Look under the australian tab. GSJBW isn't even up there on the debt capital markets top 10 for aus.

reasons not to do investment banking...workmates, who are disloyal,work against you, and would stab you in the back without thinking twice... you will change as a person, for the worse' - Abused by a banker, were you?


Actually omnidragon this does happen. In the UK there are multiple grads occupying a single desk, so obviously some backstabbing does occur while rare though. And your comment about hours is redundant since different departments do different areas. Obviously research will be different to M&A.

 

[jtee]

http://www.gsjbwere.com/About/default.cfm?p=AJ_DayInLife_CorpFin

This is 'a day in the life' from the careers section on goldman sachs australian website. I read it last year and decided i dont want a career in IB after i read the words 'After dinner it's back to..'.
Personally I'm willing to sacrifice alot of money in order to have a social life.

 

[ND]

lol, oh right, how much is a typical starting salary at Bain?

what sorta marks do you think u have to have to stand a chance at getting into these firms? i know BCG stipulates you have to be within the top 5-10% of your cohort.

About 65K IIRC.

http://soft.thomson.com/pdf/financia...y_Capital_Mkts

http://soft.thomson.com/pdf/financia...t_Capital_Mkts

Look under the australian tab. GSJBW isn't even up there on the debt capital markets top 10 for aus.

What about M&A?

Also, in the USA tables look at Gleacher, Greenhill, Evercore etc; they're nowhere near the top (usually), but they are still top tier (more prestigious than Goldman even). There is alot more to it than league tables (consider Citigroup, who are near the top but are not considered nearly as prestigious as Goldman, MS, ML etc).

 

[turtleface]

I've always thought GSJBW had the strongest IB division internationally. I think I read it in some article a while back.

http://www.gsjbwere.com/About/default.cfm?p=AJ_DayInLife_CorpFin

This is 'a day in the life' from the careers section on goldman sachs australian website. I read it last year and decided i dont want a career in IB after i read the words 'After dinner it's back to..'.
Personally I'm willing to sacrifice alot of money in order to have a social life.

hahaha if IB was as cruisy as what they make it out to be in that website, I'll apply for IB straight away.

11pm my ass lol

 

[ND]

what sorta marks do you think u have to have to stand a chance at getting into these firms? i know BCG stipulates you have to be within the top 5-10% of your cohort.

Sorry i missed this for some reason.

He had no less than a D on his transcript (in actuarial studies) and a killer resume.

I've always thought GSJBW had the strongest IB division internationally. I think I read it in some article a while back.

Yeh they do. (Goldman Sachs that is; it's only GSJBW in Australia and NZ)