The Sweet Little Lies of I-Banking
By BankersBall on Jul 16, 2007 in Cube Life
Tell me lies
Tell me sweet little lies
(tell me lies, tell me, tell me lies)
Oh, no, no you can’t disguise
(you cant disguise, no you cant disguise)
Tell me lies
Tell me sweet little lies
– Lyrics excerpted from “Little Lies”, Fleetwood Mac
Anyone who has participated in hiring understands the disjointed feeling that one can get from simultaneously hating working for a company and yet, recruiting and encouraging others to come work for that same company.
That’s why we like this post from “Me Be Lily” an ex-investment banker who breaks down the sweet — or is it dirty? — lies of investment banking.
Among our favorite LIES:
“LIE: Business travel is fun. It doesn’t matter where you are; banking is banking. You might see exotic airports and possibly exotic hotels. But don’t expect to visit the beach or local museums. Sometimes you’ll luck out (especially if your client is in the hospitality industry or especially concerned with showing you a good time). But for the most part, your business trip will be a bland pastiche of airport, hotel, client office, and the roads in between. Also, in this era of cost-cutting, you probably won’t even fly business class …
LIE: You’ll save a lot of money. You’ll definitely make a lot of money. That means you’ll be taxed a lot of money. You’re also living in New York, so you’ll spend a lot of money on rent and food. You work in banking, so you’ll spend even more on clothes and probably alcohol. You’ll save some money (far more than your Teach For America friends), but probably not as much as you’d expect.”


On Jul 18, 2007, j said:
agreed — awful feeling to recruit and hate.