#31
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Re: Avg. Salary of Wharton Grad debate
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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#32
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Re: Avg. Salary of Wharton Grad debate
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.
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#33
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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? |
#34
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
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. |
#35
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
[ QUOTE ] 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. [/ QUOTE ] None of this is relevant. The person in the OP is a Consultant, not an Investment Banker. [/ QUOTE ] 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. |
#36
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Re: Avg. Salary of Wharton Grad debate
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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#37
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
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. [/ QUOTE ] Yep, I bet an entry level consultant for IBM in Little Rock Arkansas would make in the 50s, at most. |
#38
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
[ QUOTE ] 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. |
#39
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
[ QUOTE ] [ QUOTE ] 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. [/ QUOTE ] 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. |
#40
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Re: Avg. Salary of Wharton Grad debate
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] 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. [/ QUOTE ] 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. [/ QUOTE ] 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). |
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