Investment Banking is a TRAP

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It’s a trap quick disclaimer this video is not going to be me bashing on investment banking it’s just a thought i had after nine months being out from banking holy crap time is flying fast that banking is a trap in the sense that it’s not like a negative like we’re gonna kill you trap the trap in the sense that once you get in it’s weirdly hard to get out for

These following reasons i still strongly stand by the statement that banking is a great start to any career you get a lot of great professionalism training when a very expedited time it’s a lot of freaking money right out of undergrad and a lot of successful people out there have got banking backgrounds so they respect having banking that’s my little punchline for

What i think banking is still a great career but here’s some reasons why i think banking is a trap starting off banking gives you a lot of money gives you a lot of stable money with high base salaries amazing bonuses obviously the work off balance stuff everyone knows about but i’m just talking in general as an outcome there’s a lot of money involved yes there’s

Quicker better easier smarter ways to make money but if you have no tangible hardcore skills no technical skills you are not overly brilliant or overly good looking or good at acting or good saying thanking rhino college i think is a very easy way to make money once you get and jump over the barrier to entry or if you’re at a target school so once you get in it’s

Hard to get out because the money is addictive and you get a lot of money starting at age of 21 22 and the human psychology is human psyche doesn’t allow you to let that go once you have that stability and there really aren’t that many jobs that have clear visibility into upward mobility rank after rank knowing exactly how much you’re going to make nationwide with

Guaranteed bases and bonuses until the partner level at which you probably have enough preparatory to bring in deals and understand that that’s something that you’re going to be doing for the rest of your life number one money is definitely part of the trap number two it’s more niche than you think i don’t really think that’s a bad thing i think as you get older

Unless you’re gonna start your own business you’re gonna have to specialize and get really deep and dive into one thing i think the trap of banking is a lot of times people are always saying the banking is a great start to a career because it allows you to have many open doors which in some ways it does in the regular general business world but if you’re really

Digging deep into banking you’re in the finance sphere and i think a lot of times a lot of smart kids get trapped into banking thinking that once you do banking you can get a lot of doors open to a wide variety of things in reality it’s relatively limited to stay in banking or going to the buy side corp dev and maybe in the startup spirit if you’re into that but

At that point you’re probably very financially niched in the third point i hope i’m not upsetting any people i don’t mean this in a very derogatory way i’m talking about this in terms of being book smart and really brilliant brilliant but i think there’s a punch line of people saying you get to surround yourself with a lot of smart people in banking i don’t think

Banking is necessarily filled with smart people and the idea of what people typically consider smart bankers have a lot of grit a lot of perseverance a lot of hard work some of them have good memories a lot of them are smart and they’re good at modeling and they’re very savvy with their words they’re good at being salesmen but i don’t think they’re brilliant in the

Sense of people thinking what smart intellectual is people who last in banking i don’t necessarily think are the smartest people i think they’re the people with the highest level of perseverance and in some ways low risk tolerance because it’s such a stable job and compare person to other means of making that much money once again i’m not saying bankers are dumb

I just think it’s a trap to say you’ll be surrounded by the smartest people this is similar to the niche aspect but as with many jobs you don’t get that many transferable skills the longer you stay especially if you’re at a industry specific or type of banking specific firm and you’re doing m a for 10 15 years and you’re a director about to become an md it’s going

To be very hard to go to something else maybe you can jump as a cfo or join a different firm in a slightly different aspect but like with many other jobs the longer you say the more niche then you get the less transable skills that you’re going to have the more addicted to the money that you’re getting in a stable level that you’re gonna get and the lifestyle and

That’s just something that you’re gonna be used to at this point i think you can argue that any job is kind of a trap in that way as you spend more and more time on it and 40 plus hours a week with banking definitely more than 40 hours a week you’re gonna get more niche into what you’re doing and the transferable skills become less and less and less the reason why

I’m saying banking specifically is a trap for that is because i think we’re taught in college that banking is going to open a lot of doors and is the gateway to all energy job that’s just simply not the case this is definitely very very banking specific in my opinion but you don’t feel very successful if you don’t stay there is definitely this culture of you need to

Continue to grind and beat this overwhelming sense of i need to work a lot and once you get over that hump and continue to get over that hump you are truly successful if you give up on banking if you quit after a couple of years if you can’t last more than six months you’re a failure this is beyond a trap this is definitely some kind of psychological mental degration

That should not be happening i do think there’s merit to beating something out and really staying and sticking through something on the other end a lot of college students a lot of people in general end up doing things that they’re just not meant to do not very good at you shouldn’t keep trying to force a circle peg in a square hole i don’t know if that’s the right

Analogy but if that’s not something you’re good at you should just keep doing it there must be something else you’re better at that you could spend better time at have better workout balance and maybe even make more money since you’re better at it i think his idea this toxic mentality of if you’re not going to stay in banking or if you can’t last in banking you’re

A failure this mentality not that anyone openly says it some people will kind of say it but if you but overall i think it’s just this culture aspect of there’s something in front of you that people that have grit and or powerful and strong and somehow conceive the smart get through and if you can’t do that you’re gonna be a failure if you don’t do banking plus pe

Plus mba you’re a failure that mentality just keeps getting great anything that’s very sad to live by and that trap is definitely real the final aspect of the speaking of trap is i think this early getting jaded point especially with this corona pandemic people working from home the camaraderie gun a lot of people i think go into banking with this false mentality

That they’re gonna be doing a lot of cool sexy work with brilliant people talking with hundred million dollar clients which some people are but i think this early jading phase really makes you feel like even more trapped and also genuinely feels like damn i was trapped into this i was kind of lied and tricked into doing this very very early on i think if you realize

The trap later on at least you’ve had that honeymoon period of getting excited and making a lot of money and feeling like you’re contributing society i think this jaded period comes very early on and it basically sets the tone for the rest of your career at least in the two-year analyst gig so i think that trapping feeling starts very early on and just really lasts

Throughout today i discussed why i think banking investment banking is a trap once again i don’t mean that investment banking is a bad start to any career i still very firmly stand by the fact that banking is a strong start to any career people should be grateful for getting banking jobs there’s a lot of perks and benefits and goodness that comes with banking is

Banking for everyone definitely not are people getting tricked into banking i think so somewhat does that mean i regret doing banking no have i felt trapped definitely one sentence summary of the day is the death star was a brilliant invention whether you like it or not as always i thank you guys for watching and i will see you guys next time let’s go

Transcribed from video
Investment Banking is a TRAP By Bryan Jun