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Reply to "Has this board missed the huge contraction in tech?"
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[quote=Anonymous]Comments like this show a lack of understanding of investment banks. 1. For every liberal arts humanities banker (call it history or english) there are at least 5 bankers with a STEM, finance/business or "hard" liberal arts background (economics, math, etc.). If a CS major wants to pursue investment banking, they are welcomed with open arms 2. A CS major is also heavily recruited as a trader, a quant supporting traders, a quant working within an IBank hedge fund (or of course directly for a hedge fund), someone working in the IT department of say GS where they are paying some crazy salaries to develop their own systems and consumer products, etc. So, while a liberal arts major has some limited opportunities in an investment bank...a CS major opting for this route has many 3. Even at an investment bank in trading or IT roles, the CS major is usually doing work in their field of study...while the liberal arts major is nothing to do with their field of study. I mean, a junior banker doesn't have to write in complete sentences, nor use Math above Algebra I (that even may be generous). Honestly, most billion $$ deals are done with PPT presentations and bullet points 4. Like BigLaw, many senior bankers and lawyers discourage their own kids from this path...these are careers where life isn't bad when you reach the top, but it is soul-sucking and painful to get there. At the very least, they make sure their kids go into them with eyes open I guess you also have ignored the headlines coming out of Wall Street...GS and others have started significant layoffs due to rising interest rates which has significantly reduced deal flow. You realize Tech is a significant driver of finance too, right? No IPOs or M&A or VC funding...no banker fees.[/quote]
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