Should I do investment Banking
As one of the top career choices for new graduates, you may be tempted to give investment banking a try. The allure of a six-figure salary in you're early 20s and being immersed in Wall Street culture can be enticing when you're fresh out of business school. But even if you possess the rare combination of education, experience and enthusiasm that could land you a coveted investment banking gig at a bulge bracket firm, here are seven reasons why this may not be the right path for you. (Read more in How To Become An Investment Bank Analyst.)
1. You Strive for a Work-Life Balance
Investment banks are notorious for their demanding hours, with 100-hour work weeks being the norm for entry-level investment banking analysts. The tragic deaths of three junior investment bankers in recent years has focused attention on the marathon hours that they worked prior to their demise. In response, a few major banks have officially cut the number of hours worked by junior bankers. Nevertheless, in a competitive culture where putting in extra-long hours is regarded as a badge of honor, a 9-to-5 routine is pretty much unheard of. If you strive for a work-life balance, investment banking is not the field for you (see Maintaining Work/Life Balance For Financial Professionals).
2. You Wilt Under Stress
Here’s a typical work day for an investment banking analyst: she works frantically into the night and the wee hours of the morning to complete a pitch book, rushes home in the morning to shower and change, and then heads straight back to the office for the meeting. In such high-pressure situations where there are multiple competing deadlines, the ability to not just cope, but thrive under pressure, is extremely important. If you wilt and wither in such situations, you may need to consider a less stressful field than investment banking.
3. You Have a Relaxed Approach to Life
You don't believe in getting needlessly stressed about anything, and that includes work. You will do your best to meet a deadline, but if it is an entirely unreasonable one, you would speak out and say so rather than working tirelessly to finish it without complaint.