5 Reasons Why SO MANY People Quit Investment Banking
Vložit
- čas přidán 2. 07. 2024
- People quit their jobs for a multitude of reasons. Turnover in investment banking is especially high. In this video, I talk about why that is and what some of the most common reasons are. For such a highly coveted job by many, it's also important to understand why so many people move on after a year or two working there.
As always, thank you for watching my video. Hope you find this helpful, and please let me know of any questions down in the comments section below.
If you haven't already, please make sure you're subscribed to my channel so you know whenever I post a new video. See you guys in the next one!
------------------------------------------
CONNECT WITH ME:
➫ Subscribe and become a Patron today: / angelasunx3
➫ Instagram: / angelasunx3
➫ Food Instagram: / sunnyeatz
➫ TikTok: / angelasunx3
➫ Business Inquiries Email: angelasunx3@gmail.com
------------------------------------------
➫ Wall Street Prep: bit.ly/3bh3Jrc
Get 15% off Wall Street Prep Self-Study Courses and Boot Camps by using coupon code ANGELA
➫ Financial Edge: bit.ly/3bqBcge
Brush up on your finance skills, and get 25% off all courses from Financial Edge with code ANGELA25 (Financial Edge is running a special promo in July where you can get 40% off all courses!)
➫ Webull: bitly.ws/c3xy
Get 3 Free Stocks and $5 in Crypto when you successfully open and make an initial deposit of $100 into your Webull brokerage account
------------------------------------------
FTC: This video is not sponsored! Some of the links above are affiliate links, which means I may earn a small commission if anyone purchases through them.
You look like such a calm and peaceful person to be in IB
Thanks! Very anxious under all that calm but I try
So true I've just been working at IB for a month and I can't even count how many times I cried at the office because of those toxic and demanding personalities of the associates.
That's rough ),: Remember that it's just a job at the end of the day! You got this
i've worked in IB for 15 years now, luckily i work in tech - I get to start at 9 and leave at 5 and still earn a decent salary. the hours analysts work are just horrible
That's good to hear! Best of both worlds then - work life balance & decent pay
I’m a programmer, I work on the backend and the system...so the stuff no one sees or interacts with. The industry I’m in is healthcare, so the deadlines are a lot stricter, and it’s serious work. Nothing like those “day in the life videos”.
I feel you on the unpredictability. There could be one code change that, on the surface, seems so simple. But then it cause problems you didn’t expect. And now you have to explain it to managers, who often don’t understand and still want everything fixed by that strict deadline. But the thing is, you don’t even know what’s exactly broken yet or why your code change messed stuff up.
Also the strong personalities are real here in the tech industry too, lol. But I love my job and I love coding so none of that bothers me. The financial industry is so interesting though, thanks for sharing!
No problem, thanks for sharing as well!
When I tell you my jaw DROPPED when you said 9am to (11pm to 2am) bless your soul
Schedule = work sleep repeat 😅
@@angelasunx3 did you get to do anything else you enjoyed outside work during that period?
@@titoadesanya9369 Usually during weekends!
Excellent video. The 6th reason though - the juicy buy-side opportunity that lives on the other side. Once an Analyst gets about 2 years in and 1-3 good live deals to throw on their resume, they become significantly more marketable on the buy-side, the pinnacle of exit opportunities.
Yep a lot of people leave for buy side!
Angela thank u for sharing great content!
Thanks so much for watching Vivian!
Excellent video. Please also do a video on why people love to work in investment banking.
Great suggestion!
I do have to say the biggest thing that would prevent me from wanting to do IB is the hours. I think it is unethical for those kind of hours to be expected of people. Working those kind of hours isn't just unhealthy for you but it also impacts your family as well. And it impacts you from having a healthy social life which is critical for peoples well being. At the end of the day when you die I think your memories of your family and friends will matter far more then the money. I think with a few tweaks they could really improve the work-life balance for their employees which would probably really improve their retention rates. But whatever I am just some idiot on the internet so what do I know.
Would agree! Thanks a lot for your insights :)
Your videos are really help full for me, aspirant to switch & hence got very good amount of information regarding jobs & culture. Thank you so much for creating these videos and mentioning the contents. Keep posting we love it.
Kind regards,
Glad to hear that, all the best!
@@angelasunx3 i tried finding you on linkedIn but Angela name is so popular Due to which I got many different Profiles with Angela, can i get any link or your full name if possible, would be really helpful for me & kind of you 😊
My LinkedIn - linkedin.com/in/karan-soni-4a031b94
Please do connect.
Kind regards,
Karan Soni
Awesome video!
Thanks!
The long hour sounds so awful! Thanks for making us these helpful videos after these crazy hours of working hehe
my question is - isn't it better to hire two people to work 40 hours each week than have one person work 80 hours, the one person will become inefficient after a certain amount of hours. I don't think it will be financially different also, except for the additional training and onboarding.
Thank you for watching! 😄😄
@@rawjor Hours are long because you get work throughout the day for each project (ex: 10AM, 3PM, 7PM, 11PM, 1AM), not just due to the sheer amount of work
@@rawjor They want to keep things consistent and consolidated for clients so they only deal with a few people from the firm. Each team actually only has a 4-9 people in it so if your team wants the work then they have to put in the hours.
Love this video 🥰❤️
Thanks so much as always Amal!
One of the main reasons imo is that opening opportunities are so attractive, specially if you are a person interested in business, PE mechanics are much more interesting than IB mechanics from a business analysis perspective
Yep definitely a lot of good exit opportunities from IB and can open a lot of doors
Another banger! Curious to hear if location is generally considered as well? Do a lot of people want to change locations after living in a fast-paced city, or do most people prefer to stay?
Many people prefer to stay, at least for a while longer, but many do eventually move out of the city
@@angelasunx3 I've heard that work-life balance for a consultant is better in California as compared to NY. Is it true for Investment Banking as well?
@@sarveshpatki Culture might be slightly dif for Cali (ex. more lax work attire), but in terms of hours worked would imagine similar / depends on the bank
@@angelasunx3 Ohh I see
I have an interview at Goldman next week but it’s def a job where one do it for 7-10 years and retire early if they save a lot
Good luck!
@@angelasunx3 Thank You, it’s a SuperDay so I’m interviewing for 2 Asset Management roles and 1 IB role. I got this!!!
We would love to see a separate video on your future plans and how you gonna implement it
Will plan to do one!
@@angelasunx3 Excited!
@@edward2009 :)
Angela, could you make a video of the banks and financial groups that have the best environments and the best treatment for their workers?
I can try to based on what I know from friends who work at different banks and gather insights!
In many videos they talk about how much they use excel and powerpoint, but in no video they have shown an example or a draft of their own and not of the company that shows how an excel looks like in their day to day. It is just to get a visual idea of what they do in excel. I would love if you or someone else makes a video of the things they do in their day to day in excel. Thanks ;)
Happy to! Reason why many don't show is because the actual work is confidential, but will try to replicate best I can
@@angelasunx3 Have you done that video?
Hi Angela, great content. Keep up the good work! Do you make videos pertaining to credit cards ?
I haven't yet but was thinking of it
You should totally go for it in my opinion. Given your financial expertise i think it would be a great addition to your channel. Happy New Year as well 🎊.
Thank you, this video helped me to see if it was a job for me. If you don't mind me asking what were your grades and experiences like?
Will share a more comprehensive video on my resume!
Thank you so much
That's a sick backdrop, where are you working from home at the moment? A resort? haha
Just switching locations to somewhere warmer for the meantime! :)
Thanks for sharing
Thanks for watching!
@@angelasunx3 Algorithm bumpin
@@edward2009 :)
shes on point
Thanks!
In terms of the work flow, how many of those hours will be consumed in interacting with people through phone calls, meetings, etc. and how much is purely screen time working on analytical tasks on the computer? I ask because working 12 -14 hours a day hustling hard on the computer seems just crazy but if a good amount of the day is spent in discussions involving mostly talking and listening, that seems much more doable because I'm a people person and that does not feel like "work" in comparison. You know what i mean?
I'd say probably 20% of the time spent on calls and interacting with people, and the other 80% on actual work
@@angelasunx3 12-14 hours at work really?
Yes
70-100 hours a week and you still got time to have a youtube channel. salute
Haha it's always a struggle
So you basically don't have a life, just work. Daamn, 9AM to 11PM is craazy. You are so strong girl!
Haha yup no life
@@angelasunx3 and I was sad because I have to wake up at 5:30AM for my internship. You give me inspiration. Thank you so much and keep going! :)
@@ExistentialSadness 5:30am is super early! props to you
@@angelasunx3 indeed but I leave work at 3PM so there is that, haha.
@@ExistentialSadness welp you win some you lose some
I heard that the hours of IB in Hong Kong > London > NY, considering the culture and less manpower in analyst positions :(
Depends on the bank / group
I hate hong kong's banking industry people, a lot of them are in it purely for money. Interned at Goldman hong kong 2019 summer. Hated those people, I would the west.
@@grindingh2667 i suppose your neither local HK nor chinese, where do you come from?
But isn’t it like any other job for an example like being a doctor the amount of stress and hours they are put through it is kind of the same thing and they are always on calls too which is kind of draining I personally think that it comes with package and it’s a career and you should be expecting it in IB !
Yep but different kinds of stress than being a doctor. Think these are things people should expect when going into IB, but might not be something they want to do long-term in the end!
The managers in tech also succumb to the pressure of clients too...but, what can you do? Lol
Can be rough!
I wonder if investment bankers care about their health?
Definitely!
This makes me so sad to hear. How can people work these hours and think it’s ok?
The grind ),:
Anither great video, what is your LinkedIn? incase we have any other questions or wanted to connect
Thank you! Can search my name to find my LinkedIn, but you'll generally get a much faster response from me on here
Do you get pockets of free time throughout the day?
Yes!
its a 24h job, as long as the world spins, the markets are open. So glad im a SWE xD
Haha yup forever on call
Are investment bankers allowed to trade in the stock market?
It's more limited!
Angela why is it limited?
@@freshavocado47 We're exposed to a lot of non public info due to the job, so we're limited in what we can trade in
Hii ANGELA SISY....HOPE U R DOING GUD..I am 15 year old girl..I wanted to do Investment Banking as my career.But I am just confused which group to take in my class 11..Which course do I need to take in my college so that I can become an investment banker.Can U pls guide me..I am just worried abt that..Sis if u dont hv any idea abt this is also ok..BUT SOME1 WHO READ MY COMMENT HELP ME ..
Sorry for my bad english by the way...😊
I'd recommend going to a college and majoring in finance / taking relevant classes
@@angelasunx3 thanku for ur reply😊👍
have you cold emailed for getting an internship?
Yes!
Can we get into investment banking without a big education in maths?
Definitely - many do not have one
@@angelasunx3 thanks...also....is it hard to get into investment banking without getting a degree from an ivy league college
@@ajanmathewphilip3109 It is not, again majority do not have an ivy league education either
@@angelasunx3 thanks so much angela
I want internship. In investment banking..
Do it!
so are you going to quit sooner or later?
Likely at some point!
It looks it was sooner
Algorithm engagement :D
Thanks! :)
After working that many hours a investment banker makes less per hour than someone who makes 60k a yr working a regular 9-5
🙌🏻
investment banker is a good job and opportunity because of high salary but long hours time is not ok and you need to care yourself and enough sleep
100%
@@angelasunx3 Yes!!
Mam can you provide resources or courses like Financial Modelling, valuation etc in order to intern? And how to build up network if I have no connections so far?
Some videos on networking / prep materials here:
(1) czcams.com/video/ZVwx_oAuKkc/video.html&ab_channel=Angela
(2) czcams.com/video/sbLoet506Ps/video.html&ab_channel=Angela
(3) czcams.com/video/mhS5LEg8KVY/video.html&ab_channel=Angela
Would CFA be good for it?
@@prathamrana8433 I don't think CFA is especially useful for IB, usually people do an MBA
@@angelasunx3 Mam but I am a second-year undergraduate student, for now, how can I upgrade myself to the fullest? And also no one in my circle( college)has got any idea of IB.
@@prathamrana8433 Would focus on getting relevant coursework / experience and good grades for now!
Most jobs are stressful tell one job that isn't stressful
Agree, but there are varying degrees.
@@angelasunx3 i just wanna be a fu er dai. LOLs.
Lol, are you really trying to compare the stress in IB to normal jobs. You work more that double that other people and you can't make any mistakes or you may get fired. Doubt that every other jobs has this kind of stress.
That’s bullshit most jobs are just bullshit unless you do the following
Law medical management consultant finance tech
If you’re not in that you’re in the side lines bro mc being at the bottom
You’re an idiot if you work at Target or construction etc and it makes you stressed, tired ok but not stressed.
IB is all about ego. If u have it and fake it deeply u win
Fake it til you make it
Sounds like absolute hell. Why rent an apartment? They should just install beds in the office.
There really should be beds in the office
Can't give up Seamless.... 🥩 🍗 🍖 🦴 🌭 🍔 🍟 🍕 🥪 🥙 🧆 🌮
Part I most look forward to
As an Asian are u Asian American?
yes
@@angelasunx3 which country?
@@angelasunx3 u seems like ur from Singapore or something.
@@linzixuan29 i'm from usa
@@angelasunx3 born in USA ? And have asian parents ?
You don’t get paid enough to be someone’s slave. They need to hire more people and stop being so greedy.
... still alive ?
Yes haha
Hey 😂 are u allowed to swim in the pool ? or its close bcuz of covid
Yup can swim!
You are super cute do you have a boyfriend??