Avg. Salary of Wharton Grad debate
 

Having a debate with a couple friends about how much our friend is making.

She was valedictorian of our high school class and went to UPENN Wharton to major in Finance. She graduated in 3 years and now works as a consultant for IBM Global Business Services.

I said shes pulling in more than 100K in her first year with a bonus included... they say about 80K first year.

What do you guys think?

Re: Avg. Salary of Wharton Grad debate
 

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Having a debate with a couple friends about how much our friend is making.

She was valedictorian of our high school class and went to UPENN Wharton to major in Finance. She graduated in 3 years and now works as a consultant for IBM Global Business Services.

I said shes pulling in more than 100K in her first year with a bonus included... they say about 80K first year.

What do you guys think?

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70K

Edit: wait where is she working?

Re: Avg. Salary of Wharton Grad debate
 

in New York City for IBM Global Business Services

Re: Avg. Salary of Wharton Grad debate
 

I'd say in the 85-90 K range max. Probably not over 100 K.

Re: Avg. Salary of Wharton Grad debate
 

75k + bonuses

Re: Avg. Salary of Wharton Grad debate
 

I doubt many undergrads from ANYWHERE pull in 100k+ their first year out

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When most people say "Wharton Grad" they mean a graduate student. Your friend is a Penn grad.

Re: Avg. Salary of Wharton Grad debate
 

According to Wharton career statistics, the "max" range for consulting in 2004 was 56k. How much do you honestly think it's gone up since then? I say mid 60s base with 75 total package.

Consulting right out of undergrad is not typically a huge paying gig.

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

Re: Avg. Salary of Wharton Grad debate
 

I graduated from Wharton undergrad in 2003. Went to law school. Avergae starting salary for a top 1/3rd of class grad with an i-banking job is $65K plus bonus which is usually around $10K.

My friend into private equity is currently pulling in $450K.

Re: Avg. Salary of Wharton Grad debate
 

No, Wharton is an undergraduate school as well, the top undergrad business school in the country. It also is a top MBA program and does PHDs. Undeergrads take 90% of the EXACT same classes as the MBAs and their test scores are higher because MBA is pass/fail.

Re: Avg. Salary of Wharton Grad debate
 

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I graduated from Wharton undergrad in 2003. Went to law school. Avergae starting salary for a top 1/3rd of class grad with an i-banking job is $65K plus bonus which is usually around $10K.

My friend into private equity is currently pulling in $450K.

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None of this is relevant. The person in the OP is a Consultant, not an Investment Banker.

Re: Avg. Salary of Wharton Grad debate
 

People working for Bain, Mckinsey, and similar consulting firms after just graduating Wharton udnergrad will make $65K-$70K plus around a $10K bonus as well, but his.her pay scale will not be as steep as an i-bankers.

Re: Avg. Salary of Wharton Grad debate
 

according to the info below from businessweek:

Historic Salary Prospects for 2005 Grads (school reported)
Average base salary $ 57,784.00
Median base salary $ 60,000.00
Average signing bonus $ 9,446.00
Median signing bonus $ 10,000.00

link:
http://www.businessweek.com/bschools...s/wharton3.htm

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

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What can a 22 year old do that is worth that much money?

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

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What can a 22 year old do that is worth that much money?

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Make teh monies. All the money is in bonuses. They'll start at like 60k salary, but in good years bonuses can be 100k+.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

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What can a 22 year old do that is worth that much money?

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I'm not an ec. major nor do I know too much about this, but from what I hear, mostly stuff in finance such as investment banking and hedgefunds, etc. If your question pertains to what they actually DO in these jobs that make them so valuable, I'm not sure.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

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What can a 22 year old do that is worth that much money?

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I'm not an ec. major nor do I know too much about this, but from what I hear, mostly stuff in finance such as investment banking and hedgefunds, etc. If your question pertains to what they actually DO in these jobs that make them so valuable, I'm not sure.

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Yeah I was referring to what they do in their jobs for private equity that earn them that much. I know what jobs pay well.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks, but those jobs are nearly impossible to get.

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What can a 22 year old do that is worth that much money?

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Make teh monies. All the money is in bonuses. They'll start at like 60k salary, but in good years bonuses can be 100k+.

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For private equity? Also, what are they doing for private equity firms?

Re: Avg. Salary of Wharton Grad debate
 

Valuing companies, modeling, looking at business plans, etc.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks

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No there's not.

Re: Avg. Salary of Wharton Grad debate
 

Yeah at most maybe $120-140k-ish, although I guess a trader may earn a bit more bonus upside at a BB, but not 100% sure on that.

Re: Avg. Salary of Wharton Grad debate
 

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Yeah at most maybe $120-140k-ish, although I guess a trader may earn a bit more bonus upside at a BB, but not 100% sure on that.

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Best undergrad first year salary is like 180k for banking right now. This is including signing bonus, salary and end of the year bonus. Traders will definitely not make more because no first year trader has enough control over anything to get a big enough bonus to beat it.

Re: Avg. Salary of Wharton Grad debate
 

I have a buddy whose roommate was a superstar for Morgan Stanley his first or second year. He has extenuating circumstances but his boss left in his first year, he took over part of the portfolio did extremely well. For some reason Greenwich Capital (I believe that was the name of the Company) wanted him. He went to the Interview, didn't intend to leave MS. The guy who interviewed him said what do you want, he put 1 million on the sheet. The guy said no problem and that was his base salary as a 23 year old UVA grad. I know he's an exception but it can happen. I don't know what he's doing now (this was 2 years ago) but he was already a VP at the time.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks

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No there's not.

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Ok that is what I thought.

Re: Avg. Salary of Wharton Grad debate
 

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I have a buddy whose roommate was a superstar for Morgan Stanley his first or second year. He has extenuating circumstances but his boss left in his first year, he took over part of the portfolio did extremely well. For some reason Greenwich Capital (I believe that was the name of the Company) wanted him. He went to the Interview, didn't intend to leave MS. The guy who interviewed him said what do you want, he put 1 million on the sheet. The guy said no problem and that was his base salary as a 23 year old UVA grad. I know he's an exception but it can happen. I don't know what he's doing now (this was 2 years ago) but he was already a VP at the time.

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I AM THAT ROOMMATE.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks

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No there's not.

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O RLY?

I go to Penn. This does happen to some people in good years.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks

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No there's not.

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O RLY?

I go to Penn. This does happen to some people in good years.

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not to first-years at BB's.

Re: Avg. Salary of Wharton Grad debate
 

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I have a buddy whose roommate was a superstar for Morgan Stanley his first or second year. He has extenuating circumstances but his boss left in his first year, he took over part of the portfolio did extremely well. For some reason Greenwich Capital (I believe that was the name of the Company) wanted him. He went to the Interview, didn't intend to leave MS. The guy who interviewed him said what do you want, he put 1 million on the sheet. The guy said no problem and that was his base salary as a 23 year old UVA grad. I know he's an exception but it can happen. I don't know what he's doing now (this was 2 years ago) but he was already a VP at the time.

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First, this is obviously an exception as you said. Second, this was not his first year out of school, which was what I was talking about. This would NEVER happen to someone in their first year out of school. Fwiw, I don't really believe the story as told, but it doesn't conflict with what I said either way.

Re: Avg. Salary of Wharton Grad debate
 

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There are a handful of Wharton ugrads who make in the 200-400k range their first year with bonuses as analysts at bulge bracket banks

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No there's not.

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O RLY?

I go to Penn. This does happen to some people in good years.

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not to first-years at BB's.

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Dude, it totally happened to this guy his freshman year girlfriend's brother played pickup basketball with.

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my father's brother's nephew's cousin's former roommate made about 2 mil his first year out. prove me wrong.

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Okay, I don't enjoy making up things. But yeah fresh outta school it's going to be tough to make rediculous money. I know future I-bankers who for the first year worked like 80 hours and for the most part did bitch work like make copies most of the day for 20 an hour.

Re: Avg. Salary of Wharton Grad debate
 

Evan,

For clarification, the bonuses at IB are now grossly higher than they were 5 years ago? I think I recalled a coversation with someone in the field saying around the market downturn only the top 25% of analysts got a bonus at all at some firms. While now most IB kids at the BBs are going to see 6 figures their first year (coming from my friend who is not making that working on the trading desk at MS). BS or is this somewaht correct?

Re: Avg. Salary of Wharton Grad debate
 

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Evan,

For clarification, the bonuses at IB are now grossly higher than they were 5 years ago? I think I recalled a coversation with someone in the field saying around the market downturn only the top 25% of analysts got a bonus at all at some firms. While now most IB kids at the BBs are going to see 6 figures their first year (coming from my friend who is not making that working on the trading desk at MS). BS or is this somewaht correct?

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I don't know exactly how bad they were during the downturn, but everything else seems about right.

Re: Avg. Salary of Wharton Grad debate
 

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I graduated from Wharton undergrad in 2003. Went to law school. Avergae starting salary for a top 1/3rd of class grad with an i-banking job is $65K plus bonus which is usually around $10K.

My friend into private equity is currently pulling in $450K.

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None of this is relevant. The person in the OP is a Consultant, not an Investment Banker.

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As an IBM GBS employee I would be shocked if she's making 100k out of undergrad. I'd guess somewhere in the 60-70 range, although upper 50s wouldn't shock me. This doesn't count signing bonus.

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It matters where shes living. 150k in Manhattan isn't 150k in Arkansas. My buddy working for Goldman as an analyst was in line to make a 100k bonus when his salary is only around 60k base. But 160k in NYC is at best half of that elsewhere. It's more like 60k-70k in other cities.

Re: Avg. Salary of Wharton Grad debate
 

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It matters where shes living. 150k in Manhattan isn't 150k in Arkansas. My buddy working for Goldman as an analyst was in line to make a 100k bonus when his salary is only around 60k base. But 160k in NYC is at best half of that elsewhere. It's more like 60k-70k in other cities.

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Yep, I bet an entry level consultant for IBM in Little Rock Arkansas would make in the 50s, at most.

Re: Avg. Salary of Wharton Grad debate
 

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Evan,

For clarification, the bonuses at IB are now grossly higher than they were 5 years ago? I think I recalled a coversation with someone in the field saying around the market downturn only the top 25% of analysts got a bonus at all at some firms. While now most IB kids at the BBs are going to see 6 figures their first year (coming from my friend who is not making that working on the trading desk at MS). BS or is this somewaht correct?

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I don't know exactly how bad they were during the downturn, but everything else seems about right.

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Agreed. No one that doesn't stumble into their office at noon and throw up on their MD's loafers isn't going to get a bonus. And that guy might even get it if he's willing to work 40 hour weekends.

Re: Avg. Salary of Wharton Grad debate
 

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Evan,

For clarification, the bonuses at IB are now grossly higher than they were 5 years ago? I think I recalled a coversation with someone in the field saying around the market downturn only the top 25% of analysts got a bonus at all at some firms. While now most IB kids at the BBs are going to see 6 figures their first year (coming from my friend who is not making that working on the trading desk at MS). BS or is this somewaht correct?

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I don't know exactly how bad they were during the downturn, but everything else seems about right.

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Agreed. No one that doesn't stumble into their office at noon and throw up on their MD's loafers isn't going to get a bonus. And that guy might even get it if he's willing to work 40 hour weekends.

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from what ive heard, most firms in the past few years have had 3 bonus levels separated by 10-15k for 1st yrs, where the majority get middle bucket.

Re: Avg. Salary of Wharton Grad debate
 

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Evan,

For clarification, the bonuses at IB are now grossly higher than they were 5 years ago? I think I recalled a coversation with someone in the field saying around the market downturn only the top 25% of analysts got a bonus at all at some firms. While now most IB kids at the BBs are going to see 6 figures their first year (coming from my friend who is not making that working on the trading desk at MS). BS or is this somewaht correct?

[/ QUOTE ]

I don't know exactly how bad they were during the downturn, but everything else seems about right.

[/ QUOTE ]
Agreed. No one that doesn't stumble into their office at noon and throw up on their MD's loafers isn't going to get a bonus. And that guy might even get it if he's willing to work 40 hour weekends.

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from what ive heard, most firms in the past few years have had 3 bonus levels separated by 10-15k for 1st yrs, where the majority get middle bucket.

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Yeah, I've heard this too, especially in investment management and areas where analyst work is not as quantifiably measured as in trading and IB. I think that's BS, it's like financial aide to keep the good performers from making too much more than the poor ones. Fortunately my group can give bonuses with their own prerogative.

As for the consulting Qs and the overall topics, I agree with the later comments and the consensus that is forming. High 50s-low 70s for consultants, up to 100k bonus on 60k base for IB all-stars (usually on teams that had some huge deals and whose managers have more money to give away than they know what to do with).