Reply to: Investment Banking Contracts [Networking]

[Menelaus]

Not convinced about GS. There certainly have some stupid and arrogant ones there : but GS a cut above all other IBs.

I'd agree with BP here. There are some absolutely appalling w*nkers in IB in general (I know, I was one for long enough) but GS w*nkers seem to be marginally less wanky than others.

That having been said, we do need to remember that we're operating from a low base here.

[BrilloPad]

I respectfully disagree. I've seen a shoddy engineer become a passable manager at GS, social engineering does wonders everywhere.

Not everyone I worked with at GS was good. But IMO GS are better than other IBs. Of course there is no way of measuring that and its subjective so you are quite right to disagree if you wish.

[BarbarianAtTheDoor]

I respectfully disagree. I've seen a shoddy engineer become a passable manager at GS, social engineering does wonders everywhere.

[BrilloPad]

Dude, you must be totally useless if you can't tell how stupid and arrogant most of the techie bods in IBs are. Even GS has this problem.

Not convinced about GS. There certainly have some stupid and arrogant ones there : but GS a cut above all other IBs.

[BarbarianAtTheDoor]

What is primarily different is the quality of the people technically, but also the attitude to getting things done and doing things the right way. Non-performers are weeded out very quickly and ruthlessly - and this feeds into the "unique culture".

For me, it's basically the equivalent of public vs. private sector. You couldn't pay me enough to go back to non-IB. We're paid premium because we are premium. Feel free to make up whatever excuse you want for not liking that factual statement.

No, don't stop there, tell them all about international talent and the other great bits you picked up.

When you can't tell that there are lots of duds around you, you're the incompetent one. Seriously, I once listened to a presentation where the bank-expert was explaining how Hibernate was inherently slow

Dude, you must be totally useless if you can't tell how stupid and arrogant most of the techie bods in IBs are. Even GS has this problem.

[HairyArsedBloke]

As for the behaviour of the ****** that do the gambling ('speculating' my arse), I am not surprised there is a never-ending stream of abuse court cases. I do wonder how many of them get quietly murdered or beaten up by their service-department colleagues. If I saw one of them on fire I'd piss on him just enough to keep the fire going as long as possible but not long enough to put it out. I can safely say 'him' without being sexist. The occasional 'woman' was a MAWBAM anyway.

Sorry

[Menelaus]

I didn't think so

Thanks, I appreciate it.

[PM-Junkie]

WHS.

Btw, I hope that my responses weren't seen as too arrogant? It's very important to me that I get all of this IB-tulip off me!

I didn't think so

[PM-Junkie]

After nearly 1700 views of this thread he hasn't, as far as I can tell, had a single other poster express anything like similar views to his. Despite this he continues to spout this opinion off as fact in the face of popular opinion, other peoples experiences etc. This can only lead me to the following conclusion:
RedTag is either CyberTory or his dumber twin.

Ah, that's an interesting point. I wonder....

The real hoot of these "mine's bigger than yours" types is that he clearly doesn't realise that there are people here who have gone beyond basic contracting and actually run their own consultancies now. His one revenue stream versus their multiple revenue streams. Yup, he must be the richest!

<philosophical mode>

....quite apart from the fact that a nurse (for example) is infinitely richer than most people in IT - just not in the financial sense. I would suggest that shows how f***ed up our society is....it should be the other way around. Doubtless this character thinks he is doing something really worthwhile though

</philosophical mode>

[Menelaus]

I am suprised there has only been one. There are quite alot of arogant morons in IBs. The more arogant the thicker and stupid they tend to be.

WHS.

Btw, I hope that my responses weren't seen as too arrogant? It's very important to me that I get all of this IB-tulip off me!

[BrilloPad]

After nearly 1700 views of this thread he hasn't, as far as I can tell, had a single other poster express anything like similar views to his. Despite this he continues to spout this opinion off as fact in the face of popular opinion, other peoples experiences etc. This can only lead me to the following conclusion:
RedTag is either CyberTory or his dumber twin.

I am suprised there has only been one. There are quite alot of arogant morons in IBs. The more arogant the thicker and stupid they tend to be.

[oracleslave]

People who boast like you do invariably have a deep-routed inferiorty complex that stems back to their childhood. You may want to get that looked into - it must be dreadful for you.

After nearly 1700 views of this thread he hasn't, as far as I can tell, had a single other poster express anything like similar views to his. Despite this he continues to spout this opinion off as fact in the face of popular opinion, other peoples experiences etc. This can only lead me to the following conclusion:
RedTag is either CyberTory or his dumber twin.

[PM-Junkie]

You would need to know how much I get paid first, which you don't. Not too bright are you Mr. Mitty? Oh well, better get back to your yacht and villa in Monte Carlo.

Actually, my grammar is important to me: thanks for the pickup.

People who boast like you do invariably have a deep-routed inferiorty complex that stems back to their childhood. You may want to get that looked into - it must be dreadful for you.

[Whenimgone]

Genuine reasons

There are actually genuine reasons why Investment Banking is different. Aside from the obvious learning curve about networking within banking, firewalls, etc, there is the security clearance associated with them which you would already have if you're already in IB plus the lifestyle (ie crap). Many people can't hack it and leave
I've been in it for 19 years and know nothing different so take the bad with the good
As others have suggested, get in through the backdoor (a consultancy), and then your CV will have CitiBank, JP Morgan etc and your next contract will be direct

[oliverson]

Up until last year I always contracted at retail banks. As expected, the permies were largely useless and to be fair, most of the contrators were largely useless too. In all that time I had an eye on the IB rates and when the contracting market dried up in the North of England I made the decision to head down South and chance me arm at the IB's. Initially I landed a gig again in a retail bank and tried and tried to get in on that lucrative IB scene. Eventually I got my chance. I was in.

Day one and all contractor rates were cut 10%. I know that's largely about timing and it wasn't a good start but what followed simply took my breath away. They said I was technically the best they'd interviewed and by far. It was more of a relection on them than me I feel. The way that shower of public schoolboys ran that sh1t hole of a department was unbelievable. I have never been so unhappy at work as that place. They were technically clueless and they're approach at management was laughable, particularly when compared to all the PM's I've ever worked with (well, with one exception). I thought working at an IB in the City would be a great experience. Loads of money and working with the best in the business. After a few months I just couldnt' stand it so I gave me notice and found something else, working in a commodities trading company. You wouldn't believe the difference in culture even though I'm in a FO team. It couldn't be more different. Still, one thing this has taught me is that whilst I was the greadiest b4stard in the world, motivated solely by money, greed and avarice, no matter of greed could hide the blemishes of working for an IB. OK, so it's the 'only' IB I've worked for but speaking to others, this one was pretty typical of that industry.

As you can imagine, I found this thread particularly interesting and so has a an ex-colleague of mine who mistakenly followed the same path. I don't regret my IB 'mis'adventure as I'd always have been wondering. I'm just glad I've experienced it for what it is - something I thought I was but am not.

Time to put my plan B into operation