Comments on: No, You Can’t Have It All: Why Finance Does Not Guarantee You $10 Million and Your Own Beach in Thailand

By: M&I - Brian

M&I - Brian — Sat, 29 Apr 2023 14:57:30 +0000

In reply to F. Thanks! Glad to hear it. This article is almost 15 years old, but it's still relevant. The compensation numbers need an update, but the main points are still true. I would frame it a bit differently if I wrote the same thing today, so this one might be due for an update soon...

By: F

Thu, 27 Apr 2023 10:45:41 +0000

I’ve only just found this article, but wanted to coment and say how accurately you’ve described the risk of being a entrepreneur. I’ve been grinding away for a few years, the business has done ‘fine’, but it’s not a game changer and not something I want to do for the rest of my life.

I’m now looking at other opportunities at age 30 after 5 years of grinding without much to show for it.

The lonliness spot-on too!

I’ve always been worried about failure, but now realising that failing fast would likely have been a net-positive outcome.

Great article anyway, thanks for sharing.

By: M&I - Brian

M&I - Brian — Wed, 04 Jan 2023 15:20:10 +0000

In reply to F. Yup, agreed. Take a look at some of our coverage of Germany, Frankfurt, and other European locations on this site. It's a nice country in some ways, but not sure I'd want to live/work there...

By: F

Fri, 30 Dec 2022 22:00:20 +0000

I second your article.
I live in Frankfurt am Main, Germany and people in Frankfurt (even in the financial sector) are quite strange and different from London or New York.

Germans are more into technical skills and save a lot of money from the 1st year on.
But most of them reach barely $ 10 Mio. or even fail to be a millionaire.

By: M&I - Brian

M&I - Brian — Tue, 09 Mar 2021 23:24:41 +0000

In reply to Tommy Harrop.

See: https://mergersandinquisitions.com/asset-management/

By: Tommy Harrop

Tommy Harrop — Thu, 04 Mar 2021 17:03:23 +0000

You didn’t go into Asset or Wealth Management and how they differ from the others.

By: M&I - Brian

M&I - Brian — Tue, 20 Oct 2020 23:40:15 +0000

In reply to Edward Tsao. The vast majority of Analysts never even advance to Associate because they leave for other opportunities, go back to business school, join companies, etc. Yes, it is an up-or-out culture. You should read the rest of the articles on the site because these questions have been answered dozens of times.

By: Edward Tsao

Edward Tsao — Mon, 12 Oct 2020 01:38:37 +0000

In reply to M&I - Brian. Thank you, what level do you think most analysts end up at? In terms of risks of turnover, how big is the risk for levels below MD? I have heard that if you stay at a level for too long and not get promoted, you might get fired, is this true? Thank you!

By: M&I - Brian

M&I - Brian — Sun, 11 Oct 2020 14:13:45 +0000

In reply to Edward Tsao.

It is difficult, and turnover is very high. Anyone who says you just need to “stick around” is wrong because you need to achieve certain revenue targets each year. See:

https://mergersandinquisitions.com/investment-banking-managing-director/

By: Edward Tsao

Edward Tsao — Wed, 07 Oct 2020 02:36:12 +0000

In reply to M&I - Brian. Hi Brian, how hard is it to make MD of investment banks like goldman sachs etc.? How many years would it take for an MD to make 10-30 million dollars? I have heard many people saying that making MD is not hard as long as you stick around in the bank, is that true? or is it based on your performance? Do most people stop at VP or lower in investment banks? Thank you!