Investment banking? (1 Viewer)

[Q2C-ME]

My dream job is investment banking after reading up on books likes " Liars Poker " (great read). Im pretty sure u need an MBA, but whats the best way to go about it?...which uni provides the more centralised subjects for this subject

 

[Rorix]

Depends what you want to do. The guy in Liars Poker did Sales, which isn't what most people mean when they say investment banking; that refers generally to IBD i.e. M&A etc. Totally different thing.

You don't need a MBA. Banks do graduate hire to most of the divisions. Choice of uni doesn't matter...as long as its USYD or UNSW..lol..USYD is producing more top finance students atm but I think that's a function of the number of people choosing accounting at UNSW.

 

[geetarjoe]

Couple of things to note:

• Good to see you're enthused about investment banking. Its a tough job, but a good one.
• Take what is said in Liar's Poker with a grain of salt. As Rorix points out, the book is written by somebody who was salesman in the Sales and Trading department.
• Either of the big Sydney universities will be good. I met people from UNSW and USYD during the interview process. I also met people from Queensland and a number from Victoria. I'm a Perthite myself.
• Check out the Group of Eight at www.go8.edu.au
• You won't need an MBA to start in a graduate role. The MBA is mainly an American phenomenon - in the US you will generally complete two years as an Analyst, head to business school to get an MBA, then go back to an investment bank as an Associate.
• Stick to a Commerce/Finance degree with Honours, a Law/Commerce double degree or an Engineering/Commerce double degree.

If you're interested in reading some more books, I can recommend the following (having read them myself):

1. Monkey Business by Peter Troob and John Rolfe
2. Barbarians at the Gate by John Helyar and Bryan Burrough
3. When Genius Failed by Roger Lowenstein
4. Den of Thieves by James Stewart
5. Bank! by David Bledin

They're all good books, just take things with a grain of salt. Things are usually dramatised and exaggerated for the sake of entertainment.

In addition, check out the following websites, they'll get you in the mood:

• http://www.ibankingoasis.com/forum
• http://www.ibtalk.com
• http://www.dealbreaker.com
• http://www.leveragedsellout.com
• http://theallnighter.blogspot.com
• http://www.bankersball.com

Man. That's about all I can give you on investment banking at this point. Have fun.

 

[ND]

If you want to do sales/structuring (which is what Liar's Poker is about) in anything other than cash products, get a maths degree (or something equally quantitative).

 

[Q2C-ME]

thanx...wow what you said helped heaps i printed and posted it on my wall

 

[Newbie]

another book is The accidental investment banker by jonathan knee
he was a relatively senior banker at goldman and morgan stanley and now is at evercore i think

 

[Omnidragon]

The guy in liar's poker took the mickey out of investment banking. Remember that part about some banker, in his neat little dark blue suit, coming down to the trading floor looking like a fkning idiot standing at the door? He barely talks about it after that.

How did liar's poker inspire you to join banking?