I HATE Being An Investment Banker (Life Rant)

[Theraflu]

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.

Breh just know WM is WOAT lol, do it. UBS will be a good stepping stone for your next career move after your 2 years but just be warned EVERYONE says WM is awful lol. If I'm suffering in the CM's I don't even want to fathom WM. My boy recently left PWM and God, I might have to put you in contact with him because he HATED IT. LOL. Everyone talks about how effing awful it is. It's full of preppy white boys with combovers.

You're going to be dealing with the individuals rather than myself who deals with our corporate clients. Do it but just be ready breh. lol

 

[Mac Brown]

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

THIS IS THE ABSOLUTE TRUTH!!!!

Even for my job, when I travel and go to meetings regarding accounting I am the ONLY black man there. My company had a huge meeting last month where everyone from around the world in the accounting/finance groups had to meet in UTAH regarding testing a new financial system. I was THE only black man there. Other nationalities were well represented though.

 

[EA]

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

I got the interview through a hookup from my Dad. He works for a major bank and nepotism is working in my favour (I don't like it but it helps ). I graduated with a 2:1 doing a Financial Mathematics degree. I don't know what that would be in terms of GPA but that's the second best grade you can finish with here in the UK. I also got certs in Project Management whilst I was studying in my final year.

 

[↓R↑LYB]

thats my Fisher

His bed wench aunt was your pops? How does that even work breh

 

[Theraflu]

@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

As an insider tip.

Invest in RR (R...oll...s Ro...yce) they have ALOT coming up atm. (seperated for google purposes)

We often meet with clients to discuss things years before these pushes even take place. But I would advise anyone to invest in R.....olls Ro.....yce atm.

And Re...nto...kil they make rat poisons. Invest in the winter stocks go up in the summer (when people get mice). Buy every winter and sell every summer and repeat.

Those two I can hand on heart recommend. Seasonal things, we have another client who makes UV clothing and sunscreens, seasonal things are such good investments as you see your stock grow quicker on their off season.

Look into rat, mice poison company stocks...really the best insider tip I can give to a newbie. They SHOOT UP in summer!

 

[Theraflu]

btw props on ur academic accomplishments...thats hardwork

thanks bro

 

[Theraflu]

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.

Yep. Same way it is here. In banking there is a huge notion that you have to 'take care' of your clients literally so you do everything to keep them happy, take them out to lunches, dinners, go tennis with them everything. These men are honestly some fo the most entitled snobs you will meet in your life. The fake small talk and fake 'har har hars' are draining. It's the worse part of my job too. Minus my shytty co workers my clients take the cake.

 

[Poh SIti Dawn]

Nothing against you...but I hate it when people got something bugging them and this is the best they can come up with...(I guess it bugs me cause I've had white people say this to me when I've tried talking to them about thangs and stuff and thats why I don't bother talking about this type of thing with them and it's a complete waste of time).

You (not you personally...I'm just saying in general) are not sorry...that person is not an object of pity to bestow upon. Either offer some tangent advice or STFU.

Dude, I don't care what you like or dislike, I'm not here to solve your fukking problems for you or @Theraflu 's

I have my own problems to solve, if you get a response that should be good enough considering the fact that the average person who's not your mom or dad can just totally ignore you.

Should be happy I even offer my apologies to a nikka that don't pay my bills tbh.

 

[GatorStaceyAdams]

I work in a front office credit trading roleBesides having to get to work at around 6:30am, i actually love it...

Quite honestly, the trading floor is the only space in Wall Street where meritocracy is at least 50-75% of how you are evaluated (compared to 25% in banking). If you dont produce as a trader or a salesman- your ass is out. Now there is definitely nepotism, but once you get your foot in the door- you control your destiny.


Also to add- I love the push to get more women in wallstreet, when it basically ends up being these rich chicks from great colleges who really need no help at all. They walk in the room flicking there hair around and the MD's go . Im sitting there like

Then you look at the only other brotha on the floor, and realize how hard it took yall to get in in the business

 

[Colicat]

Between me and the other world there is ever an unasked question: unasked by some through feelings of delicacy; by others through the difficulty of rightly framing it. All, nevertheless, flutter round it. They approach me in a half-hesitant sort of way, eye me curiously or compassionately, and then instead of saying directly, How does it feel to be a problem? they say, I know an excellent colored man in my town; or, I fought at Mechanicsville; or, Do not these Southern outrages make your blood boil? At these I smile, or am interested, or reduce the boiling to a simmer, as the occasion may require. To the real question, How does it feel to be a problem? I answer seldom a word

DuBois

 

[OSUBaneBrowns]

Yep. Same way it is here. In banking there is a huge notion that you have to 'take care' of your clients literally so you do everything to keep them happy, take them out to lunches, dinners, go tennis with them everything. These men are honestly some fo the most entitled snobs you will meet in your life. The fake small talk and fake 'har har hars' are draining. It's the worse part of my job too. Minus my shytty co workers my clients take the cake.

Luckily, I only had to deal with the investor over the phone or by email. But there were time during conference calls with my team, the applicable client and our investor relations group where pretty much we had to coddle the investor if we can or can't do something for them. It made me realize that I better off on the back end of things in the corporate world (dirty work) then smooching with the clients. I'm not a ass kisser and I'm not going to start just for a paycheck.

 

[2Quik4UHoes]

Sucks to read. But yeah like others said you should switch up to a more spartan lifestyle and save your money and help expand the family business and make that your escape. Or if possible, use your resources as an IB to help Black people and even help to educate Black folks on things like financial literacy, how to invest, etc. Either you gotta find something completely new or you gotta make something positive of the shyt you got now.

 

[mortuus est]

This is why we should just all move to Atlanta and become rappers

 

[Zach Lowe]

Well associate is like the worst spot on the totem pole so that might be why you hate it

 

[Theraflu]

Well associate is like the worst spot on the totem pole so that might be why you hate it

it goes

analyst
senior analyst
associate
vp
m.d