I also worked at a few IBs before I came to the realization that one was just worst than the next. I thought that they worked by underpaying people just out of school, but dangling the carrot of big bucks that always seemed just out of reach (maybe next year I will get the big bonus!) and then churning and burning.

I am back in finance at a private company, and I am part of our on-campus recruiting efforts, and I frequently tell candidates "listen, take a job with one of our direct competitors, that's fine, but whatever you do don't take an offer at an investment bank if you can avoid it- they will just work you to death largely filling tech debt and you won't get the opportunity to work with the truly best and brightest..."

>I thought that they worked by underpaying people just out of school, but dangling the carrot of big bucks that always seemed just out of reach (maybe next year I will get the big bonus!) and then churning and burning.

How do they work? currently at an IB and unsure about continuing, everyone seems apathetic