I am a junior in high school right now and I am interested in finance and pursuing an IB path. I’m currently an AML analyst in a MNC bank. I am having a crisis which I'm sure is a very popular one. Not the modeling or analysis involved in most finance gigs, and most of the guys in my office didn't even have a university degree. I also applied to Asset Management company which is my priority. So I think tech companies probably have a higher ROI. ._33axOHPa8DzNnTmwzen-wO{font-size:14px;font-weight:700;letter-spacing:.5px;line-height:32px;text-transform:uppercase;display:block;padding:0 16px;width:100%} And also it’s harder to get into the big 4 tech companies than to break into IB. You never really develop an “operational” skill set as a banker. I can’t answer the “tech or finance” question for you because it depends on the trade-offs you’re willing to accept. What would be alternative paths to Venture Capital if not Investment Banking (or strategy consulting) that you would reccomend? It’s not the only way in, but it is the highest-probability method of getting in. If you become a successful investor or build a successful startup you could end up in the deca million, 100 million, possibly billion dollar range if you are extremely successful. Yes, investment banking might actually be helpful in your case, but I’m not sure you “need it.” You can easily learn how to value companies without actually working in banking. You must confirm the statement above and enter a valid email address to receive this free content. I’ve seen quite a few also start food/restaurant businesses. Those factors mean that you need to start much earlier and commit to finance in your first year or early in your second year of university. What job in Finance or outside of Finance would suit me? Thank you for your great work and an honest opinion. I recently purchased the fundamentals course and am finding it to be very clear and thorough. Or do you know any sites which would have this information? If you want to do S&T, you should go for more technical and complex products that can’t be automated as easily (e.g., avoid cash equities). You don’t need a lot of side projects as long as you have decent internship experience. There is so much demand in tech that you can tell almost any story and get in, whereas in finance they want to see more of a progression of internships. I know I want a role in IB/PE but opportunities here are limited given the recent turn down. Also, I would have worked far less and created much shorter courses/guides/articles. Smaller and plain-vanilla deals lend themselves to automation, but once you get past a certain size and complexity, company executives need a banker to run the process. Required fields are marked *. I’ve already started thinking about moving to another bank or tech company. Your email address will not be published. The pay ceiling is lower than the one in finance, but how much does it matter? Contact coaching@mergersandinquisitions.com and describe what you’re looking for and we can let you know. Not at all. I’m currently a junior finance major at UT Austin. This is spot on. Cookies help us deliver our Services. That’s repeating the same mistake as wanting to break into finance simply because of the cash and exit ops. I stuided accounting. I’m in a big dilemma, please help. I can’t answer the “tech or finance” question for you because it depends on the trade-offs you’re willing to accept. Thank you! Thanks! So this factor still holds up reasonably well, but the problem is that some of these exit opportunities don’t necessarily have great futures. I don’t really think that’s true on the last point. It’s too late to switch over to any other field (unless I win the lottery), so my question is, which business major do you think can make it taking into account job growth or at least minor shrinkage, as well as over 150k-200k pay? Hey Brian, I don’t know about boutique banks that specialize in something that specific, but there are tons of tech/TMT boutique banks. It didn’t let me reply. I think if you’re uncertain, it’s still better to take the S&T offer because it will be easier to move from S&T at a bank into tech than it will be to do the reverse. Does being on the West Coast have any impact? It can still be a good job, but average compensation will be lower than mid-level bankers. Yeah, the ridiculous hours get tougher to justify as you get older (even I’m slowing down a bit in my old age). On the other hand, Big 4 tech company (apple, amazon, facebook, microsoft) starting salaries are 200k all in and it’s a 40-hour job. .LalRrQILNjt65y-p-QlWH{fill:var(--newRedditTheme-actionIcon);height:18px;width:18px}.LalRrQILNjt65y-p-QlWH rect{stroke:var(--newRedditTheme-metaText)}._3J2-xIxxxP9ISzeLWCOUVc{height:18px}.FyLpt0kIWG1bTDWZ8HIL1{margin-top:4px}._2ntJEAiwKXBGvxrJiqxx_2,._1SqBC7PQ5dMOdF0MhPIkA8{height:24px;vertical-align:middle;width:24px}._1SqBC7PQ5dMOdF0MhPIkA8{-ms-flex-align:center;align-items:center;display:-ms-inline-flexbox;display:inline-flex;-ms-flex-direction:row;flex-direction:row;-ms-flex-pack:center;justify-content:center} You often recommend getting into the buyside, investing, starting a business, or time traveling back to 2004 to join facebook. Discover How To Break Into Investment Banking, Hedge Funds or Private Equity. I think that’s the only way you can tell for sure since they’re so different. But financial roles are increasing every year, and starting salary for finance majors is approximately 40k +, with a couple years of experience you can start making 80k plus. The broad spectrum of finance (not sales!) Unlike you, I don’t have a background in computer science or engineer, can I teach myself about data science at least? I was thinking something along the lines of IT as it relates to the technical field, but your take would be appreciated. Any recommendations? Damn, I miss reading through these boards. Thank you for your time. Thanks Brian! For maximum short-term compensation, finance still wins because you won’t earn nearly as much as an engineer in tech at a smaller company. Hi Brian. Thanks! Do you think that getting an MBA would be a good decision? Also, do all tech roles require a computer science degree and a bunch of individual projects? Do you see an increasing demand for it? I love my job as a hedge fund accountant for an investment bank. Also, gain technical skills in computer science to make yourself adaptable. Starting this site during the financial crisis of 2007-2009 was interesting. It has a good reputation, but I’m not sure how well analysts do in terms of exits. I couldn’t agree more with what you said. I think you are on point when you say that past six figures income ranges becomes less relevant. I was a finance major as well, but I absolutely hated how accounting is such a big player in finance. For the more technical people Microsoft, Google, and Oracle all have strong up or out engineering programs. I have fostered an interest in economics and market trends, and I spend a decent amount of my free time now watching the market, browsing investopedia, reading books, this site and WSO. For networking with other bankers, find their names on LinkedIn and email them or try to get referrals. But if you’re doing it because you don’t know what else to do, it’s not worth it – just transfer to a top school and work at Google or Facebook instead.”. Why the Usual Argument for Finance Has Weakened. My advice is to try internships in both fields and decide based on that. A business is only risky if you approach it with the VC model of raising a lot of capital and then pouring it into something that may or may not work. I’m currently a high school entrepreneur in Charleston, South Carolina. But if finance really isn’t for you, think about some of those other areas (sales, marketing, consulting). I’m an undergrad student on a West Coast target school. The biggest obstacle is that most engineers are just not that interested in investing and are unwilling to learn a new way of thinking.

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