Point taken. All the successful traders I've met are very nice guys with senses of humor. I agree with you that personality is an important factor.
<5% of the first level entrants get to that point after at the very least 5 years. Obviously most here have no real clue about IB statictics as of AFTER the bubble. It's not what it's hyped up to be. Those days are over, expect McDonalds manager hourly wages for more hours than your body can handle. If you're gonna get into it, go in for the experience that gets your into a good MBA program or go in to give up a decade of your life in order to advance in the I-Bank world. To make it above the VP level requires heavy sacrifices and only those that fully accept it & understand it head on make it to that level.
See, you'll want to go into IB because as you can see many traders act like a bunch of filty, dirty animals. Bankers at least are somewhat civilized. Would you want to hang around with a bunch of gorillas?
11-01-05 08:09 PM -------------------------------------------------------------------------------- Quote from aPismoClam: investment banking is for pussies. but they'll make a half a million a year plus equity. -------------------------------------------------------------------------------- Haha, I agree. Actually one of my favorite quotes about investment bankers vs. traders comes from FIASCO by Frank Partnoy: "Investment bankers are conservative, cultured, slow-moving men (and a few women) who advise corporate executives about which country clubs they should join; their favorite phrase is 'How extremely interesting.' Salesmen and traders are wild, cunning, aboriginal creatures who advise money managers about deceiving their bosses and finding new strip bars; their favorite phrase is, 'Fuck you.'" I agree with totally, and no I have never lied to you. And quite frankly sir, I have a rare diabetic condition that causes my body to expel glucose through my sweat glands. In no way, shape, or form have I "recently" been in a "sleazy" strip club as you so nonchalantly put it... ...So Fuck You.
Anyone considering becoming an investment banker needs to watch American Psycho, its a great look at who and what these people are and do.
or go in because it's going to look good on your resume. Seriously. That's how you will get your next job. Besides of investment classics like Liar's poker and such, read "Fooled by randomness" by Nicholas Taleb. It will give you a different insight on how the i-bank world operates. I can subscribe to most of the author comments as I experienced the situations he describes myself.