Investment Banking

[Saddo]

I've never worked in an IB, though as a permie some years ago I visited the Bank of Mitotoyo's place next to the ice rink and the railway terminus (which doesn't count).

I wondered why IB jobs have always tended to have a caveat that the individual should have previous banking experience? Not being funny, but adding numbers together doesn't seem such a hard thing to do, so is this to do with having a basic understanding of financial things like depreciation etc?

Just curious what sets IB people apart from other industries.

[MarillionFan]

Well. I've been researching this a little and it appears to be a bit of a closed shop. Both agents I spoke to said it could be learned but it was about appearance.

It was suggested to me to take a perm job to get in the door.

I have an interview week after next so I'll let u know how I get on

[Ruprect]

There is a fair amount of terminology you need to be familiar with; and depending on where in the bank you are you may need a thicker than usual skin. You might also need to put the hours in too (I missed out on a role at gs because I made it clear I wouldn't work 15 hour days). I guess they'd just rather know you can deal with these things.

It's not impossible to get a contract in an ib, but it depends on the market, if there's loads of competition around they're likely to go with the guy with the experience.

Also handy if you hear of a role from someone you know, can be a way in.

[Lockhouse]

You either need to be lucky or go perm first. Ruprect has it about right.

[Scrag Meister]

I've never worked in an IB, though as a permie some years ago I visited the Bank of Mitotoyo's place next to the ice rink and the railway terminus (which doesn't count).

I wondered why IB jobs have always tended to have a caveat that the individual should have previous banking experience? Not being funny, but adding numbers together doesn't seem such a hard thing to do, so is this to do with having a basic understanding of financial things like depreciation etc?

Just curious what sets IB people apart from other industries.

About 25-40% higher rate. :-)

[shaunbhoy]

Both agents I spoke to said it could be learned but it was about appearance.

Well that is you royally fooked...............unless you rebrand yourself well away from your current "Son of Steptoe" look.

[AlfredJPruffock]

Worst ever contracting experience I had was in IB .

My advice is to stay clear of this sector - full of ex Public Schoolboys whom - if they were chocolate would eat themselves.

Go for another position in another sector instead.

[The_Equalizer]

In my younger days I was quite taken by the idea of working in an IB, but have since come to the conclusion that it is pretty much selling your soul.

[oracleslave]

You either need to be lucky or go perm first. Ruprect has it about right.

I did 2 years of it and the only reason I considered myself lucky was that I wasn't filled with the same piss-poor attitude to work/life and everyone around me that the rest of them had.

Getting better rates now than in those days (2003/4) so wouldn't go back unless I could find nothing else.

[MarillionFan]

I did a couple of stints in banking very early, but it was so long ago I don't remember anything.

Initially it was a daunting aggressive environment and I was a soft gentle fella into pressing wild flowers.

I think I might be ready for it now.