The Worst Part of a Wall Street Career May Be Coming to an End
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If they persevere, they move up the ranks to associate, then director and managing director; a handful end up running divisions. Although grueling, the life of a senior banker can be glamorous, involving traveling around the globe to pitch clients and working on big-money corporate merger deals. Many who get through the two-year analyst program have gone on to become business titans — the billionaires Michael Bloomberg and Stephen Schwarzman began their careers in investment banking — but a majority will leave before or after their two years are up, bank representatives said.
There are jokes among junior bankers that the most common tasks of the job involve dragging icons from one side of a document to another, only to be asked to replace the icon over and...