08 Nov Investment Banks Destroyed in this AWESOME Presentation
In November and December 2013 Anton Kreil toured 12 of the top Universities in the UK and Western Europe delivering this epic presentation on how the profession of a Trader at an Investment Bank was being destroyed by multiple structural headwinds. The Bonus culture at Investment Banks had been replaced by a Salary culture and the industry was in structural decline. As an industry insider, Anton knows how it works at the banks, their hiring practices and what Traders at every level get paid, regardless of what HR departments and the Media portray. This presentation was a reality check and warning to over 4,000 students on the University Tour, that the odds of graduate entrants getting paid amounts of money that will allow them to finance a perceived Hollywood style lifestyle, were so low that it now probably wasn’t even worth pursuing a long term career in Investment Banks as a Professional Trader. Anton made sure the students were equipped with the truth rather than the falsehoods and rosy pictures of glamourous Corporate lives portrayed by the Corporate HR Departments and the Media.
It turns out Anton was dead right back in 2013. In comparison to the 1980’s, 1990’s and 2000’s, Investment Bank traders now (2020) get paid far less for doing the same work hours, with much higher educational requirements on entry.