What do investment bankers actually do?
Investment banking involves advising companies on big financial deals like selling shares or merging with other companies. Junior bankers, called analysts, spend a lot of time creating financial models and presentations using Excel and PowerPoint. This job is known for long hours and high pressure, but it also offers very high salaries, especially for young people starting their careers. However, with rising interest rates and more competition from other industries and types of financial firms, some people believe that investment banking is becoming less attractive, as other jobs now offer similar pay with a better work-life balance.
Key Vocabulary
To play table tennis; used here to describe a recreational activity sometimes offered in modern workplaces as a benefit.
Examples:
- After a long day of coding, the engineers would often unwind by playing a quick game of pong in the breakroom.
- The startup's new office featured a dedicated area for foosball and pong, encouraging employee interaction.
- She challenged her colleague to a game of pong, confident in her ability to win after years of practice.
The termination of employment of a worker or workers, often due to economic conditions or restructuring, rather than an individual's performance.
Examples:
- The company announced significant layoffs across several departments after a quarter of lower-than-expected profits.
- Many employees feared layoffs as rumors of a merger began to circulate through the office.
- To avoid layoffs, the management proposed a temporary reduction in work hours for all staff.
Hard, monotonous work; a demanding and continuous effort, often implying a lack of enjoyment.
Examples:
- The daily grind of preparing financial reports can be exhausting for junior analysts.
- He was determined to put in the grind during his first few years to gain valuable experience.
- The startup culture often involves a relentless grind, with long hours and high expectations.
A superficial or attractive appearance that conceals the true nature of something; a deceptive outward show.
Examples:
- Despite its polished veneer, the old building was in desperate need of extensive renovations.
- The politician presented a veneer of confidence, though privately he harbored doubts about the upcoming election.
- Beneath the veneer of calm, the team leader was struggling to manage the project's growing complexities.
An intense or eager desire or craving for something, often power, wealth, or status.
Examples:
- His lust for power drove him to make questionable decisions throughout his career.
- The ancient artifact was sought after by many, fueled by a lust for its rumored magical properties.
- She pursued her entrepreneurial dreams with a fierce lust for innovation and success.
No longer fresh or new; uninteresting, unoriginal, or unexciting due to overuse or lack of change.
Examples:
- The marketing campaign felt stale and failed to capture the attention of new customers.
- He found his current role increasingly stale, yearning for new challenges and opportunities.
- The conversation grew stale as they discussed the same old topics without any fresh perspectives.
Distributed or given out sparingly or in small portions.
Examples:
- The limited resources were carefully doled out to each department based on their immediate needs.
- During the economic downturn, bonuses were doled out cautiously and only to top performers.
- The aid packages were doled out to the affected communities after the natural disaster.
Operated by largely automatic equipment, reducing the need for human intervention.
Examples:
- The new factory implemented automated assembly lines, significantly increasing production efficiency.
- Many customer service tasks are now automated through chatbots and AI systems.
- The entire process of data entry has been automated, saving countless hours for the administrative staff.
Used as an intensifier, often to qualify a metaphor, meaning truly or in fact.
Examples:
- The old library was a veritable treasure trove of ancient manuscripts and forgotten texts.
- The conference hall became a veritable beehive of activity as attendees networked and exchanged ideas.
- After months of preparation, the grand opening was a veritable triumph for the small business.
A shortened, informal term for graduates, typically referring to those who have recently completed a university degree.
Examples:
- Many new grads are seeking entry-level positions in competitive industries.
- The company actively recruits top grads from leading engineering programs.
- Recent grads are often eager to apply their academic knowledge in practical work environments.
The amount of money an employee receives as payment for their work, typically issued regularly.
Examples:
- He carefully budgeted his paychecks to cover rent, utilities, and student loan payments.
- Many employees rely on their regular paychecks to manage their household expenses.
- The company prides itself on always delivering paychecks on time, recognizing the importance of financial stability for its staff.
People who are intensely interested in or enthusiastic about a particular subject, often one that is technical or intellectual.
Examples:
- The annual convention draws thousands of tech geeks eager to see the latest innovations.
- He proudly identified as a history geek, spending his weekends exploring archives and museums.
- The group of coding geeks spent countless hours developing an innovative new app.
To send a signal or message, often to check for a response or to notify someone.
Examples:
- The project manager would often ping his team members with quick questions throughout the day.
- I'll ping you an email with the updated meeting agenda later this afternoon.
- Just ping me if you need any assistance with the presentation setup.
The day on which a person receives their wages or salary.
Examples:
- Many people look forward to paydays as an opportunity to pay bills and treat themselves.
- The company's paydays are consistently on the 15th and 30th of each month.
- She always planned her major purchases to coincide with her paydays.
Informal term for something that was extremely impressive, successful, or well-executed; to have done something exceptionally well.
Examples:
- Her presentation on the new marketing strategy absolutely slayed, earning her a standing ovation.
- The band slayed their performance at the music festival, leaving the crowd wanting more.
- He slayed the competition with his innovative product design, securing the top prize.
Relating to or involving repetition, especially in a process where a procedure is applied repeatedly to the results of a previous application, with the goal of achieving a desired outcome.
Examples:
- The software development followed an iterative process, with continuous feedback and improvements.
- Designing the new product required an iterative approach, making small adjustments and testing them repeatedly.
- The artist used an iterative method, refining the sculpture through a series of successive modifications.
The process by which an investment bank, insurer, or other financial institution assesses and assumes the risk of another party for a fee; in finance, it often refers to the process of raising capital for companies by issuing securities.
Examples:
- The investment bank handled the underwriting for the company's initial public offering.
- Effective underwriting is crucial for assessing the risk involved in issuing new bonds.
- The insurance company's underwriting department carefully evaluated each policy application.
Without purpose or direction.
Examples:
- After graduating, he felt aimless for a few months before deciding to pursue further education.
- The aimless wandering through the city streets eventually led him to a charming, hidden cafe.
- Without a clear goal, the team's efforts became aimless and unproductive.
Referring to basic, tedious, or unskilled work, often implying that it is uninteresting or low-level.
Examples:
- New interns often start with grunt work, like organizing files and making copies.
- He spent his early career doing the grunt work of data entry before moving into a more strategic role.
- Even the most prestigious jobs often involve some amount of grunt work in the initial stages.
Used informally as an intensifier, often to express strong emphasis, frustration, or determination.
Examples:
- He decided to take a fuck-you money job, prioritizing high earnings over passion early in his career.
- After years of hard work, she finally earned enough fuck-you money to start her own business.
- The concept of fuck-you money often implies financial independence that allows one to make choices without economic pressure.