Guide HOW TO BREAK INTO INVESTMENT BANKING AND PRIVATE EQUITY (MAKING $180k+ OUT OF COLLEGE

[hfmogger]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer at a private equit mega fund after my two years in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

 

[HerculesJr.]

Thanks bro when I get my government money Imma begin investing

 

[hfmogger]

Thanks bro when I get my government money Imma begin investing

Bro what

 

[settings]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer after my two year in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

you are jewish

 

[tami_26]

This actually might be the most useful guide lwk if u create it

 

[Iblamemyeyes]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer after my two year in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

jewmaxxing

 

[hfmogger]

you are jewish

jewmaxxing

For making $180k out of college? Jfl

 

[HerculesJr.]

Bro what

Wdym

 

[Cortisol]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer at a private equit mega fund after my two years in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

wow.

 

[SBHBMozuchi]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer at a private equit mega fund after my two years in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

Any specific books or youtube channels you recommend?

 

[hfmogger]

Any specific books or youtube channels you recommend?

It really depends on what you’re looking for.

YouTube channels:
For News/macro events: Bloomberg, Atrioc (I disagree with a lot of his takes, but he makes some great coverage and explains the content really well), Insider, Business Insider, WSJ, how money works

Learning more about IB and the lifestyle: Defiant Gatekeeper, rareliquid, Peter Su

Interesting tidbits (stuff that I found relevant or interesting tied to high finance): Good Work, Benjamin, casual finance, Patrick Boyle (breaks down major financial events, and has an awesome high level analysis), more perfect union, millionare problems and quotes, the philosophy of marketing


Books:
Investing (not relevant to the job per se, but this is crucial to understand the career and how the markets move): Intelligent Investor (Benjamin Graham my goat), Little Book of value investing, One up on wall street

Financial History: Flash Boys (discusses the rise of HFT, and general insights into how the industry thinks), Too big to fail


I would advise subscribing to the short squeeze newsletter, read the wsj or Bloomberg if ur willing to pay (it’s def worth it imo), and understand how and why the market moves. Learn about fixed income, interest rates, and how countries economies are interlinked. This should give a good base of knowledge for really any career and future financial decision, not just a high finance job.

Hope this helps!

 

[SBHBMozuchi]

It really depends on what you’re looking for.

YouTube channels:
For News/macro events: Bloomberg, Atrioc (I disagree with a lot of his takes, but he makes some great coverage and explains the content really well), Insider, Business Insider, WSJ, how money works

Learning more about IB and the lifestyle: Defiant Gatekeeper, rareliquid, Peter Su

Interesting tidbits (stuff that I found relevant or interesting tied to high finance): Good Work, Benjamin, casual finance, Patrick Boyle (breaks down major financial events, and has an awesome high level analysis), more perfect union, millionare problems and quotes, the philosophy of marketing


Books:
Investing (not relevant to the job per se, but this is crucial to understand the career and how the markets move): Intelligent Investor (Benjamin Graham my goat), Little Book of value investing, One up on wall street

Financial History: Flash Boys (discusses the rise of HFT, and general insights into how the industry thinks), Too big to fail


I would advise subscribing to the short squeeze newsletter, read the wsj or Bloomberg if ur willing to pay (it’s def worth it imo), and understand how and why the market moves. Learn about fixed income, interest rates, and how countries economies are interlinked. This should give a good base of knowledge for really any career and future financial decision, not just a high finance job.

Hope this helps!

Mirin hard the effort twin

 

[HerculesJr.]

Bro what

You heard me

 

[killmenowpt2]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer at a private equit mega fund after my two years in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

i made usapho is that a good start

 

[iqmaxx]

what do recruiters look for in an applicant?

 

[hfmogger]

i made usapho is that a good start

The US Physics Olympics? If that’s what usapho is, it’s certainly a great thing to have on ur resume. It’s definitely more of a quant skill tho, especially if you have a talent for math and/or coding.

Investment banking and private equity are significantly less math intensive than people think, it’s more finance and markets oriented rather than high level math or statistics.

Maybe usapho is something else tho, please correct me if I’m wrong.

 

[hfmogger]

what do recruiters look for in an applicant?

Soft skills and hard skills.

Soft:

• Sociability: You have to be very personable, easygoing, and an effective communicator.

• Networking: building off sociability. If you have ANY connections in the industry, leverage them, if not, make the connections.

• Work ethic: you will be working 60-110 hours a week. If you can’t put in that level of dedication to ur work, studying, and interview prep, good luck.

• Analytical thinking: Learn why and how everything happens. This comes with time, but keeping up with markets and yields will help you learn over time.

• Team & leadership: You need to learn how to lead a team, and how to be a team player. Both will be crucial. Learn when to take initiative and when to fall back and watch.

Hard Skills

• 3 Financial statements
• Microsoft Office: Learn how to use excel completely without a mouse, and pptx mostly without a mouse
• Financial Modeling
• Presenting
• You must have a complete understanding of the markets, fed, us gov, and key current, past, and future events

IB is incredibly difficult due to the generalist nature. Even if you go into a product or coverage group, you must know basically everything: (Accounting, Valuation, S&T, ECM, DCM, LevFin, HOW PRIVATE EQUITY WORKS, Hedge Funds, equity research, corporate banking, commercial banking, risk management, fixed income, and global macro). This is not easy, and will never be. The biggest barrier is yourself, and whether you’re willing to put in the work.

 

[Nenestar]

just lotterymaxx, bud

 

[Penalizer69]

Finance roles will be d by ai

 

[FairnessandEquality]

I’ve landed an IB role at a top bank (JPM, MS, GS) and got an offer at a private equit mega fund after my two years in IB (BX, KKR, BLK), and I want to make a guide to help people break into high finance roles out of undergrad. What would you guys want advice on, and what do you think could be the most valuable? I can also talk about my personal experience.

I can only give specific advice for people in the US, but I can likely point you in the general direction if ur outside the US.

I'm on neetbux can't amass too much wealth or gov sees it as assets than possibly cut payment

 

[WhitepiII]

Finance roles will be d by ai

They say this about any job that can be done on a computer. Has it happened yet?

 

[Penalizer69]

They say this about any job that can be done on a computer. Has it happened yet?

No shit it needs time to advance. Even if they say this about every job finance is consistently ranked as the most likely for it to be completely ran by ai. The surface level tech and finance jobs are already being taken by ai, look at the statistics if you don't believe me.

 

[WhitepiII]

No shit it needs time to advance. Even if they say this about every job finance is consistently ranked as the most likely for it to be completely ran by ai. The surface level tech and finance jobs are already being taken by ai, look at the statistics if you don't believe me.

The Markov chains cannot mog my intellect. But you're right about the super surface level jobs (maybe). Just because their being replaced doesn't mean that that was the correct decision. AI is failing lots of companies rn

 

[hfmogger]

No shit it needs time to advance. Even if they say this about every job finance is consistently ranked as the most likely for it to be completely ran by ai. The surface level tech and finance jobs are already being taken by ai, look at the statistics if you don't believe me.

People also have said that about calculators, computers, and the internet. Yes some jobs will become irrelevant, but new jobs will emerge. Client facing roles like investment banking and private equity are thankfully insulated. You can’t have an AI making advisory or acquisition descisions.

 

[killmenowpt2]

The US Physics Olympics? If that’s what usapho is, it’s certainly a great thing to have on ur resume. It’s definitely more of a quant skill tho, especially if you have a talent for math and/or coding.

Investment banking and private equity are significantly less math intensive than people think, it’s more finance and markets oriented rather than high level math or statistics.

Maybe usapho is something else tho, please correct me if I’m wrong.

yeah usapho is physics olympiad im retarded so i thought you were talking about quant

 

[hfmogger]

yeah usapho is physics olympiad im retarded so i thought you were talking about quant

Congrats anyways lmao

 

[killmenowpt2]

Congrats anyways lmao

hoping i can medal next yr

 

[emeraldpill]

Finance roles will be d by ai

This, 80% of the industries jobs will be taken within 5 years

 

[Orobas]

Congrats. The US banking regulations are pretty strict. Where do you go when you want to get collaretal for a commodities trade MT799 that doesn‘t meet trade bank requirements on a short timeline? Are there desks that take on those trades and do them through funds? Do you need to know someone in a fund?

 

[hfmogger]

Congrats. The US banking regulations are pretty strict. Where do you go when you want to get collaretal for a commodities trade MT799 that doesn‘t meet trade bank requirements on a short timeline? Are there desks that take on those trades and do them through funds? Do you need to know someone in a fund?

Thats commodities s&t. I do TMT investment banking, and I have no interest or involvement in commodities or s&t tbh.

 

[iqmaxx]

what type of work did you do in IB? like wtf are you doing for 60-110 hours a week?
ive also always been under the impression that the most important traits for high finance jobs are personability and being a good "culture fit". so what are your coworkers like? whats the firm culture like?

 

[hfmogger]

what type of work did you do in IB? like wtf are you doing for 60-110 hours a week?
ive also always been under the impression that the most important traits for high finance jobs are personability and being a good "culture fit". so what are your coworkers like? whats the firm culture like?

I'm an analyst, so I do a lot of the "grunt work". I'll value companies, create powerpoints, pitch M&A opportunities, and do advisory work when nothing else is available. When the workload isnt that heavy

Culture fit is a huge factor. In my group, the average time worked is about ~70 hours per week, so it's incredibly important to have people that you enjoy working with. My analyst class has been great, and I've honestly gotten really lucky. Analyst culture hugely differs by product group and bank, so networking is essential to find out what the group is like.

Culture itself is hard to quantify, especially across different groups, and is completely dictated by MDs and VPs. My MD is exclusively focused on client relations, so it's not as much of a sweatshop as other groups. The one sucky thing is that analysts are expected to answer phone calls and emails immediately from 8:00am to 1:00am every day.