I HATE Being An Investment Banker (Life Rant)

[DrX]

Breh, I agree with all you've said. Since I have become more concious, worked in the family business, really began to take a look at racial relations and became more aware. It's harder to deal with. The worst type of racism and discrimination is the subtle kind, the kind you can only see but it's hard to put in words.

I'm saving HARD CORE ATM and just need to decide what I actually want to do with my savings.

yeah man, i think the only way a certain type of black man can survive that....he would have 2 b extremely naive or a c00n

but in general i bet most ppl probably would hate that job

 

[Theraflu]

Quit, I did. Sent my resume to all the minority ib firms in atl, chicago and dc. Then left. How have you survived this long?

tbh, being an analyst wasn't hard or too bad, I had little exposure and I did more assisting the M.D's in their role and learning the ropes and i wasn't sent to meet clients or anything. It's since Jan that I've been an associate and it's been hell. It's been 6 months now so I don't think i've survived too long tbh.

 

[DrX]

btw props on ur academic accomplishments...thats hardwork

 

[mcdivit85]

I feel this one.

I work in Investments as well. Once you get past retail banking, processing and maybe low-level administration, the amount of black people is very few....especially young black people. I call it the 50K effect, which is across all sectors.....not just banking. Once you get to the arena where the jobs are $50K and up in salary, the amount of blacks drops with every $10K jump.

The office that I work in is cut up between two divisions. The one division at this location is largely call center and processing. That side has a healthy amount of blacks. The money is ok on that side.

The side I work on is a whole separate division dealing with investments and high end broker dealers-between the two its considered the high end side. And I can count the amount of black people on maybe one hand and a few fingers in a sea of people. I happen to work on what is considered one of the "highly visible" i.e. important teams, and when I started, the whole team was nothing but young, up and coming white dudes.....all extra nice but quintessential suburban kids with golf memberships and such.

I was not only the sole black person on the team but the sole non-white period. A handful of blacks have been hired over the last year in the division, but its still few and far between. I mean, I'm a 20-something black dude and its bleak where I'm sitting.

I am glad to have a position that adds to my resume and gives a high level of exposure within the division, however it's when I take a look around.

Peace

 

[Warren Moon]

tbh, being an analyst wasn't hard or too bad, I had little exposure and I did more assisting the M.D's in their role and learning the ropes and i wasn't sent to meet clients or anything. It's since Jan that I've been an associate and it's been hell. It's been 6 months now so I don't think i've survived too long tbh.

It's well known you can't work in IB or the BIg 4 for longer than 2 years as a BLACK MALE. Go into consulting or a smaller company. More money, less work. Best decision of my life. Plus you have way more experience, than most, you have a plethora of exit options.

 

[AB Ziggy]

You make over hundred thousand a year, what are you complaining about really?

 

[Theraflu]

is banking as big a snooze fest as it appears?

Depends on what drives you and your personality, if you enjoy sales jobs and the thrills of hitting your targets, schmoozing people, negotiating and selling water to fish, you'll enjoy it. It's the processes that get boring not the actual job, I work in the capital Markets so I have to keep my eye on my bloomberg screen all day, the constant monitoring of the markets gets boring. The client shmoozing is tbh the WOAT part of the job. ALOT of lunches and dinners with senile old fukks.

You have an admin who does all the mundane more boring stuff tbh while you focus on taking care of your clients.

 

[Theraflu]

I feel this one.

I work in Investments as well. Once you get past retail banking, processing and maybe low-level administration, the amount of black people is very few....especially young black people. I call it the 50K effect, which is across all sectors.....not just banking. Once you get to the arena where the jobs are $50K and up in salary, the amount of blacks drops with every $10K jump.

The office that I work in is cut up between two divisions. The one division at this location is largely call center and processing. That side has a healthy amount of blacks. The money is ok on that side.

The side I work on is a whole separate division dealing with investments and high end broker dealers-between the two its considered the high end side. And I can count the amount of black people on maybe one hand and a few fingers in a sea of people. I happen to work on what is considered one of the "highly visible" i.e. important teams, and when I started, the whole team was nothing but young, up and coming white dudes.....all extra nice but quintessential suburban kids with golf memberships and such.

I was not only the sole black person on the team but the sole non-white period. A handful of blacks have been hired over the last year in the division, but its still few and far between. I mean, I'm a 20-something black dude and its bleak where I'm sitting.

I am glad to have a position that adds to my resume and gives a high level of exposure within the division, however it's when I take a look around.

Peace

Yep, the visible and money making side of the business the higher you go the more we fall like dominoes

my floor looks exactly like this one

so I can stand up and see the whole floor and it's a sea of white. Liteally in a whole floor that size 4 blacks and that's it.

yh there's wayyy more black people in HR and OPS and back office front office they're ghost.

 

[dtownreppin214]

I can cosign all of this, it sucked as internship. Imagine doing it in the Texas good ole boy network. I ran to corporate finance which is a lot better but I have an offer with UBS Wealth mgmt that I'd like to take but I know it's going to be a lot worse.

 

[mortuus est]

Do what makes you happy man, don't let the hefty check define you.

lol life aint free

 

[Astroslik]

My end goal was to get to MD level but my Dad told me I should create a 5 year plan because he said there's nothing worse than getting caught in corporate limbo. I'm only 21 so the money is really attractive to me right now but I know I'm gonna have to put up with that affirmative action bullshyt.

how'd you get that interview breh? and what school/gpa/degree do you have?

 

[Theraflu]

It's well known you can't work in IB or the BIg 4 for longer than 2 years as a BLACK MALE. Go into consulting or a smaller company. More money, less work. Best decision of my life. Plus you have way more experience, than most, you have a plethora of exit options.

Yep, that was my greatest mistake. If I never came back to become an associate I would have never seen this side of the business. When all the black dudes were leaving I was thinking whats the rush. Big big mistake.

Currently devisiing my next step.

 

[*L*E*G*A*C*Y*]

You make over hundred thousand a year, what are you complaining about really?

Especially being black in a corporate job...you wanna see more people like yourself to make you not feel alone.

It sucks working those positions and the only other blacks there are in the mailroom, or in the cafeteria serving food or as janitors.

 

[Handsback]

@Theraflu

A little off topic but do you have any advice on investments? Short- or long-term. Particular companies or industries or just general pointers.

Interesting thread btw

 

[OSUBaneBrowns]

Depends on what drives you and your personality, if you enjoy sales jobs and the thrills of hitting your targets, schmoozing people, negotiating and selling water to fish, you'll enjoy it. It's the processes that get boring not the actual job, I work in the capital Markets so I have to keep my eye on my bloomberg screen all day, the constant monitoring of the markets gets boring. The client shmoozing is tbh the WOAT part of the job. ALOT of lunches and dinners with senile old fukks.

You have an admin who does all the mundane more boring stuff tbh while you focus on taking care of your clients.

I had to work with investors on the mortgage banking side before I got laid off and this was the worst part of my job. These guys were so entitled and wanted you to stop whatever you do just to handle every single mundane request for them. I'm one of the few that do like working at a bank and dealing with high end issues but I HATED having to bit my tongue with some of these demands and request from the investors.