On 9/12/2024 at 3:19 PM, vikas83 said:

The whole point of being an IB analyst is you sacrifice 2-3 years of your early 20s to basically be set for life. After being an analyst you have a few options: (i) go to private equity, (ii) go to a hedge fund, (iii) go back to business school or (iv) if offered, be promoted to associate. I was promoted to an associate, but then left after just under 4 years to go to a hedge fund; now I run a family office. Every analyst from my class went to the buy side (HF or PE) and has done very well financially -- one guy has his own hedge fund (I did as well), one is a partner at a monster PE firm, one is at a direct lender, another is CFO of a company and one is a partner at a large HF. 

It's a screening process.

I started watching Industry - any semblance of reality there? 

When I started during the dotcom era all-nighters weren't that uncommon. I learned a lot about coding and about myself during the process. 

I wouldn't wish it on anyone, but if you have the drive and talent it pushes you ahead fast.

 

 

 

On 9/13/2024 at 10:30 PM, JohnSnowsHair said:

I started watching Industry - any semblance of reality there? 

When I started during the dotcom era all-nighters weren't that uncommon. I learned a lot about coding and about myself during the process. 

I wouldn't wish it on anyone, but if you have the drive and talent it pushes you ahead fast.

Industry is based on a S&T desk. It’s a different culture than IB. IB analysts tend to work more hours and are less, shall we say, colorful compared to sales and trading.

The show is exaggerated of course, but there is some truth to the stereotype in my experience. If you ever read Liar’s Poker (same guy who wrote The Big Short) it gives you a good idea of the culture of that side of the business, though it’s become much more quantitative focused in recent years.