investment banking vs personal finance

The Personal Finance Lessons I Learned On Wall Street

As our regulars know, Camilo began his career on Wall Street at J.P. Morgan, one of the premier investment banking franchises in the world. Today he shares the personal finance  lessons he learned during his stint on Wall Street.

As a fresh-eyed 22 year old entering the world of investment banking, I knew I would be spending a lot of time at the office working hard on projects for our clients (the world’s largest companies). With a freshly minted bachelor’s degree in finance from Wharton and two summer internships at J.P. Morgan, I was excited to do the work I was hired for.

However, what I wasn’t ready for were the regular calls from friends and family asking for personal finance advice. Their questions ranged from ‘which student loan should be paid first?’ and ‘should they rent or buy a car?’, to ‘how do I make a monthly budget?’ and ‘what is a 401K?’.

What they didn’t realize is that my job as an investment banking analyst really had NOTHING to do with managing my personal money at all. They assumed that because I worked in corporate finance that surely, I must be a personal finance expert. It was this experience that helped solidify my passion and interest in personal finance. A topic everyone wishes they knew more about. After that, I consumed every book I could find about personal finance to become an expert. Here’s some of my favorites.

Today, I’ll be sharing how investment banking differs from investing your own money and also what my time in investment banking taught me about personal finance.

But you have to head over to Duke of Dollars to read it — they were the ones that graciously interviewed me!

Read the full article here:

investment banking vs personal finance

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