Investment banking culture

[messiah]

Blaster I've worked in Investment Banks for over 9 years now and I would say that they have fooked with me badly all those late nights and I relized that
no one really gave a sh*t, I was killing myself to keep David Brent managers in a job.

You are expected to work 30% longer than other IT bods in London for 15-25% more money ... is it worth it ? not really . your job is NOT secure, there is little or no training, bonuses and pay increases in investment banks are really bad these days (if you're a permie programmer) and of course there is politics galore from colleagues, managers and their cynical wives who will leave them if they cannot keep them in the life style to which they are accustomed to.

Its simply not worth it .. and yes you can b*lltulip yourself and pretend that you are getting a great honory career that will lead to greatness and prosperity ... but in reality you are expected to know the business side and the IT side whereas a trader only knows the business side and he gets paid 300%-1000% more than you.

Is it worth it ? ..... no. Is the culture condusive to a healthy and balanced mental sate / lifestyle ? answer : no.

Laugh at the arrogant IT managers that interviewed you 10 years ago who are now on the scrap heap down wash out lane.... that could well be you in 2 years time... so don't take permie investment banking jobs .. take contract ... be wise !

[Bovvered]

Laugh at the arrogant IT managers that interviewed you 10 years ago who are now on the scrap heap down wash out lane.... that could well be you in 2 years time... so don't take permie investment banking jobs .. take contract ... be wise !

This is the PermieUK forum? Right?

[BlasterBates]

Blaster, how easy is it to get a banking gig on the Continent? Do the same rules apply as in London (i.e. previous banking experience a must)?

The rules are very different from London. Investment banking in Germany or Switzerland or Luxembourg is just a normal job so the usual rules apply as to any other sector, if you have banking it is an advantage, but it isn't a must. They don't generally do silly tests either. Rates though are quite a bit lower than in London.

There aren't that many jobs around though not since the Frankfurt market took a dive.

Switzerland and Luxembourg still have opportunities though.

[AlfredJPruffock]

As someone else said on another post if you cannot change the world then change yourself...


Everybody wants to change the World but nobody thinks of changing themselves...

Leon Tolstoy Russian IT Contractor

[AlfredJPruffock]

On the continent, investment banks are about as stressful as a public library ...on Sunday.

Colleagues in London keep sending mails late at night, sometimes well after 6 pm, they don´t seem to understand that in other countries at 5:30 most people go home because they "have a life". In fact on Friday by 3.00 pm the office is almost empty.

Aye BB

Perhaps thats what is meant by modernizing Europe, that the Europeans must sacrifice their free time and their life for some vain office politics that does nothing for the shareholders ?

Research proves that those who work in excess of 40 hours a week are more prone to physical and mental illness, what does it profit a contractor to gain a dime but lose his health ???


True Wealth Is Health

Chinese Proverb

[voron]

Cheers BB. Is being fluent in the host language a must, or is it a case of English at work but learn the lingo in your spare time?

[BlasterBates]

Cheers BB. Is being fluent in the host language a must, or is it a case of English at work but learn the lingo in your spare time?

...no voron, generally English is sufficient, but being fluent in German or French is an advantage, so will give you the edge.

To be honest the main requirement is to be prepared to work for less than you would in London, most Londoners wouldn't consider it.

[voron]

To be honest the main requirement is to be prepared to work for less than you would in London, most Londoners wouldn't consider it.

What sort of rates are we talking? I'm already well below London contracting rates

[The Lone Gunman]

Nah, the one standing on the left is much better

I had been ignoring this thread, but lo, what a picture. Got any more?

I would gladly give any one of them the benefit (edit: apart from the fact I am happily married), particularly the one in the glasses.

[BlasterBates]

..well £300-350 is realistic, last year German banks were paying as low as £250.

Just type in your skill and Germany, Switzerland or Luxembourg, occasionally contracts pop up in Paris.