A former classmate told me that most investment bankers have relatively short i-banking careers. In fact, many start their second careers in less lucrative sectors before they hit 35. In investment banking, It’s either “up” or “out”. That cruel.
So, why am I still waxing lyrical about investment banking?
Say you graduate with a good MBA at age 25 (add another 2 years if you serve NS) and start your career in i-banking. In the next 10 years, you can possibly and quite easily make an average of US$200k per annum. If you are prudent enough not to splurge on Ferraris or Lamborghinis, you should be able to save at least US$100k every year. In 10 years, that’s US$1 million.
You’re a freaking millionaire by the time you “retire” from your first career. Get my point?