So I realize I’ve taken some heat from some who have said that my original “Day In The Life Of An Investment Banking Analyst” back in December 2007 was an unfair portrayal of the job.

It can’t always be that bad, right? There has to be some upside. You can’t always have days where you pull all-nighters and are yelled at by 5 different Associates for 10 different things while being forced to fix printers and provide tech support, right?

Right.

I admit it; not every day is like that. That was indeed one of my worst days ever. So I’ve searched through old emails, talked to friends and former colleagues, and have pored through my own personal journal all in a quest to find my best day as an investment banker.

And I think I’ve found it.

Read the rest of this article

It’s a question as old as Excel itself. Or at least as old as the Vault guide.

“If investment banking is not that hard, why do you make so much money doing it?”

Sure, the hours are terrible. And as an Analyst or Associate, you rank just barely above a primate in terms of respect.

You’re always at the mercy of the client, sacrificing to him your spouse, children (no, not literally… not yet at least) and friends.

And it’s extremely competitive, often requiring a top-notch education, stellar grades and a previous string of finance summer internships.

You need to be able to sit motionless in front of a monitor for 28 hours at a time.

All of these points are valid, and people often claim these explain why you get paid so much. But they do not directly explain why bankers make as much money as they do (the ones at Bear Stearns excluded).

Read the rest of this article

Here we are in March and, as expected, investment banking summer internship questions continue to roll in. In addition to more guidance on how to decide between different summer internship offers, I also cover the transition from the world of nonprofits into private equity, as well as the role of accounting firms in investment banking and mergers & acquisitions specifically.

Typically I stay away from explaining the actual job because I think it’s more interesting to write about how to break into banking or just how high investment banker salaries are, but feel free to send in more questions on what investment bankers actually do.

Read the rest of this article

What is Investment Banking?: Ari Gold: What Bankers Actually Do, Why NOT Do Investment Banking

Investment Banking Lifestyle: A Day in the Life - Worst Day and Best Day, How to Stay Fit, Investment Banking Wardrobe for Men, Investment Banking Lingo Part 1 and Part 2, A Week in the Life (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

Breaking into Finance: How to Get an Investment Banking Job, Networking into Investment Banking, Recruiting in a Tough Market, Breaking in from Engineering, Breaking in from Law, Breaking in from the Back Office

Investment Banking Resumes: How to Write an Investment Banking Resume, How Investment Bankers Read Resumes

Investment Banking Interviews: Investment Banking Interview Guide, The Interview Selection Process, How to Close Your Interviews

Summer Internships: Summer Intern Success Guide, How to Dominate Your Summer Internship, Tips from a Former Summer Analyst, What You Do as a Summer Analyst, 10 Summer Internship "Don't's", How Summer Interns Get Full-Time Offers

Investment Banking Salaries: Investment Banking Salaries vs. McDonald's, Why Investment Bankers Make So Much Money, 2008 Analyst Bonuses

Private Equity / Buyside Jobs: Private Equity Resumes, Private Equity Interviews, The Myth of the Buyside Job, Headhunters: Friend or Foe?

Specific Groups: UBS LA, Boutiques, Restructuring, The Back Office

Quitting Finance: The Conference Room: How You Get Fired, The Farewell Email, A Day in the Life of a Former Investment Banker