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How Investment Banking Is Like Doing Drugs

Decent Essays
Austin Thoreson
Marcy Toews
English One
06 May 2015

“Doing investment banking is like doing drugs: on your good trips you dance in clouds of marshmallows, surrounded by beautiful women (or men) serving you fruit under canopies. On your bad trips you scratch your eyes out and jump off buildings.” These are the words of Brian DeChesare, The founder of Mergers & Inquisitions and Breaking Into Wall Street.
As an investment banker you will work with companies, CEOs, CFOs to help grow their business. This can be helping them with buying another company or issuing capital. It is your job to advise them and help pick the best option.
Investment banking dates all the way back to early America, during the Civil War to be exact. During the Civil War, Jay Cooke, a Philadelphia financier, established the first modern investment bank. Although this was the first “official” investment bank, there had been many private banks doing the same jobs. After the civil war these financial services evolved dramatically. Investment bankers started to influence client companies by sitting on finance committees or even on the board of directors for the companies themselves.
Throughout the late 19th century the banking industry was led by two groups: the Jewish-German immigrant bankers and the so called “Yankee Houses”. Even with the major ethnic difference the groups shared the same economic structure. These bankers and groups played a big part in the expansion of America .
…...According TO
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