Just Curious...

[Adrenaline21]

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Why do you guys throw out investment banking as an alternative to medicine for those that really want money?
(not interested in investment banking just wanted to know)

Just kind of curious as to why? Do you even know how competitive investment banking is? That only those at target schools and that have very good resumes get interviews, and its as or even more cutthroat than medicine.

Is it more of a- screw you and go do something else answer?

 

[Josh7]

Why do you guys throw out investment banking as an alternative to medicine for those that really want money?
(not interested in investment banking just wanted to know)

Just kind of curious as to why? Do you even know how competitive investment banking is? That only those at target schools and that have very good resumes get interviews, and its as or even more cutthroat than medicine.

Is it more of a- screw you and go do something else answer?

Maybe because investment bankers make a ton of money...?

Imagine putting the same amount of work that pre-meds put into tying to get into medical school. I'm pretty sure you could get involved in investment banking with that sort of effort.

 

[Sidereum]

Probably because people are suffering under the delusion that there is a better, surefire way of making money than medicine, so they toss around engineering (valid, but not exactly the path to wealth), law (ha!), business (surefire? Hmm...), and i-banking (again, ha!). Not that I think anyone should go into a field just for the money...

 

[Praefectus]

It's a false choice because IB is outlandishly cutthroat. Even if you're lucky to get an analyst position with GS/MS/JPM/BoA, you have to slave away at spreadsheets for 80 hours a week for 2 years. At that point, you're either really good and you get promoted to associate or you're average and you get tossed out.

 

[Adrenaline21]

Maybe because investment bankers make a ton of money...?

Imagine putting the same amount of work that pre-meds put into tying to get into medical school. I'm pretty sure you could get involved in investment banking with that sort of effort.

I agree with the effort that pre-meds put in, but like before you'd have to attend a top school, which isn't reality for most people(I assume) on this forum.

 

[MortellarPreMed]

There is also a prestige to medicine compared to other professions (law and banking), although this is definitely not a reason to solely go into medicine. You have to be passionate and want to do it, everything else that comes with it is just a bonus

 

[hobbity]

The skills of investment banking mean that you don't actually need to be an investment banker or money manager to make money. If you have a decent amount of initial capital and investment savvy, then you can make a ton of money using your initial money.

For individuals who have the skills and knowledge, they could even go into something like real estate, specialize in million dollar homes, and make money off the commission. If they have more capital after that, they can invest in real estate itself and make money off turn-over or rent it out as a commercial property. Then use that money and their investment banking skills to generate even more wealth.

Investment banking is the sort of the "go-to" response to making money simply because you're not making money via hours worked or products sold - it's money making more money (of course, there are risks, but someone who put money in the stock market in 2009 (when it hit its low point) is likely to have made money off of their investments considering the growth between 2009 and the present).

 

[Josh7]

I agree with the effort that pre-meds put in, but like before you'd have to attend a top school, which isn't reality for most people(I assume) on this forum.

I guess those people could consider getting some sort of graduate degree from an Ivy League like MBA but really if someone wants to go into medicine for the right reasons, then investment banking isn't even relevant