a investment banker article- do read iim (i bank ) aspirants

Jobs & Careers
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Most people, however, have a hard time when it comes to taking a conscious decision to lessen stress – they simply push themselves till the problem becomes too worrisome to ignore. Very few are ready to trade monstrous salaries, responsibility an…

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Most people, however, have a hard time when it comes to taking a conscious decision to lessen stress -- they simply push themselves till the problem becomes too worrisome to ignore. Very few are ready to trade monstrous salaries, responsibility and stress for less money and peace of mind. But that's exactly what 25-year-old Shahina Budhhiraja* did.
After completing her education, Shahina secured a coveted position with a Mumbai-based investment banking firm, one of the most sought-after in the country. "After one year of living a hectic life struggling to cope with a never-ending schedule, I was stressed to bits," she says. So she made a bold decision and simply quit her job. Some may call her a fool for giving up such a lucrative position, but Shahina doesn't care -- "Today I'm a happier person living on half the salary. I have more time to do the things I've always wanted -- to read, to sleep well and most importantly, to enjoy my life."

Not everyone is willing to take such a drastic step, but there are other ways and means of coping with stress and anxiety. Youngsters are beginning to realise how important it is to beat stress and lead a quality life. And many of them are fighting for what they believe in.
'I'm happier at half the salary!'


BASICALLY ITS ON "MONEY VS STRESS"
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Most people, however, have a hard time when it comes to taking a conscious decision to lessen stress -- they simply push themselves till the problem becomes too worrisome to ignore. Very few are ready to trade monstrous salaries, responsibility and stress for less money and peace of mind. But that's exactly what 25-year-old Shahina Budhhiraja* did.
After completing her education, Shahina secured a coveted position with a Mumbai-based investment banking firm, one of the most sought-after in the country. "After one year of living a hectic life struggling to cope with a never-ending schedule, I was stressed to bits," she says. So she made a bold decision and simply quit her job. Some may call her a fool for giving up such a lucrative position, but Shahina doesn't care -- "Today I'm a happier person living on half the salary. I have more time to do the things I've always wanted -- to read, to sleep well and most importantly, to enjoy my life."
Not everyone is willing to take such a drastic step, but there are other ways and means of coping with stress and anxiety. Youngsters are beginning to realise how important it is to beat stress and lead a quality life. And many of them are fighting for what they believe in.
'I'm happier at half the salary!'


BASICALLY ITS ON "MONEY VS STRESS"


As far as I am concerned we shouldnt pay heed to what other people are saying. every one is different individual and has his/her breaking point. So ultimately its a personal decision.... period... some people thrive in a constant pressure environment as it keeps them going... and some just want a hassle free life with less tangles...
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Great she did. But not everyone will with her. Most important thing is JOB satisfaction, she didn't have she quit. As simple as that(is it ??). She should and I think most of us should do what we like, the field that our skills can cater to and keep the excitement level high for long time. Else you quit.:(

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i have some doubts

1) a iim grad gets a 1 crore package with a posting in london. Tax= 30-40% so after tax in hand = 60 lacs which is as good as 20 lacs in india if u compare costs of living(if people take domestic postings )
2) salary hikes will be much more in india
3) less no of work hrs
4) also is this i bank boom only till stock market boom? in last 4 yrs with sensex up from 4-20k has this boom started what if stock market crashes ?
5) what will happen to kpo in equity research will they close down if stock market crashes???????????

puys what r ur view?
someone from a i bank clarify

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My friend, india is not the only country to have stock market.Different countries have diff stock markets(new york stock exchange etc).
And the work of i-bank doesnt ceases if stock market crashes,infact now the tough work starts.Now it has to make new strategies,have to find out new opportunities in diff sector.
Moreoever I-bank not only invests in stocks,they help companies in M & A,overseas venture loans and many other similar works.

You are right about that the salary after tax is low and less relevant than in India (purchasing power parity) but then what about in Long term ??
I think you have to think by urself now plus improve ur basics about stocks/sensex/investment etc.

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accenture ---

boss all i wanted to know was whether i banks will keep paying astronomical salaries and keep recruiting people in huge no from iim if stock market crashes coz then all these high priced ipo issues will also stop??
i mean sensex wont be 60 k in nxt 10 yrs or will it be

also so many kpo r involved in equity research what about them in stock crash? will they have to shut shop?

:whatthat:

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All i can see is a lot of junta is treating this article as something which is trying to question the future of ppl who opt for jobs like that of Investment banking..................however i guess the idea is to convey that only ppl who are very sure of what they want to do should get into such demanding jobs. This kind of job comes with a package and money is just a component of it............i guess ppl should try 2 understnd tht instead of taking the article too literaly

Cheers

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Friends,

Myself Abhijeet. I need help.. Its VERY URGENT. I will be very very grateful to anybody who replies to my question.

I have around 9 years exp (pre and post MBA combined, pre-4, post-5) in FINANCE and ACCOUNTING. I am currently working in Genpact as Assistant Manager in F&A; domain. I got a call from UBS (Now cognizant) in INVESTMENT BANKING domain (PRODUCT CONTROL) . Now, I dont have any INVESTMENT BANKING exp. I got the call since I have 9 yrs Reconciliations exp in F&A; domain. They wanted a guy who has good exp in Reconciliations. UBS/ COGNIZANT said that they will give me PRODUCT KNOWLEDGE if I get selected. Now , my CTC is 5 lacs ( fixed). Guys I want a suggestion from you. Since I have 9 yrs exp and an MBA ( ICFAI Business School) and CFA ( Level -1) from ICFAI and my CTC is very low. How much should I ask as salary????? Kindly advice. Please GUYS HELP ME..ITS A REQUEST TO EVERYBODY IN THIS FORUM . I will be highly indebted to him/her who advises me.