#13
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Re: Questions about other professional salaries vs. investment banking
Someone is confusing MBA grads with undergrads. Last I checked undergrads got about 60-80K and MBA grads got about 120-140K. You need to consider two mitigating factors if you think this salary is impressive. First, the hours are horrible and your hourly wage becomes more intune with other professions. Second, New York City and some other cities where most Ibanking jobs are located skew the averages. Everyone gets paid more in NYC and so do Ibankers - but cost of living is also much higher. |
#14
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Re: Questions about other professional salaries vs. investment banking
I was also under the impression clothes etc cost more.
Wearing the same 3 JC Penney suits in rotation won't cut it at Goldman Sachs. |
#15
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Re: Questions about other professional salaries vs. investment banking
[ QUOTE ]
Someone is confusing MBA grads with undergrads. Last I checked undergrads got about 60-80K and MBA grads got about 120-140K. You need to consider two mitigating factors if you think this salary is impressive. First, the hours are horrible and your hourly wage becomes more intune with other professions. Second, New York City and some other cities where most Ibanking jobs are located skew the averages. Everyone gets paid more in NYC and so do Ibankers - but cost of living is also much higher. [/ QUOTE ] This is what someone said to me in a private message from the other thread: "dude do you think I am making this up just for the hell of it? the year I graduated from duke (2005), base salary was 55k. signing bonus was 10k. and the MINIMUM year end bonus that any of my ibanking friend received was 80k. that's 145k. i went to work for a hedge fund instead, and the pay is the same. banks do not recruit for front office positions on vault.com or any otehr website outside of those specific to the universities they recruit at. " |
#16
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Re: Questions about other professional salaries vs. investment banking
Yeah, base salaries for analyst start at 60k, but it's the bonuses that make the pay huge (they are greater to or equal to the base salaries).
Also, in Ibanking, analysts are the ones straight out of undergrad and associates are the ones who came out of business school (MBA, not undergrad). Typical pay, ie. total compensation (at a major bank): 1st year analyst - 10k signing + 60k base + 70k(++) bonus ~= 140k+ 2nd year analyst - 70k base + 90k(++) bonus ~= 160k+ 3rd year analyst - 80k base + 110k(++) bonus ~= 190k+ Then it goes to associate where the salaries continue to go up exponentially. This is for corp. finance. Sales & Trading has a greater variation in pay for individual and research is paid less than both. |
#17
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Re: Questions about other professional salaries vs. investment banking
These bonus do not represent 5 year avg at all.
Bonuses were in the 10k-30k range a few years back. |
#18
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Re: Questions about other professional salaries vs. investment banking
80hrs and you being to lose quality of life... unless its your passion, ibanking doesn't sound like something I'd be interested in "just for the money"
much rather keep a 40hr week at 40% the pay. |
#19
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Re: Questions about other professional salaries vs. investment banking
Wpr:
The reponses to you question are correct - corporate finance analysts make that type of money and the reason is that most CF fees range between $1 million on the low end to $25 miilion plus on the high end. So paying some low level analysts $150K is chump change. Engineering and medical don't have this type of economic structure thus the low pay scale. Unless you have the love of medicine, I don't know why anyone would want to become a doctor - huge $$$ investment and lower and lower pay every year - definitely -EV. The investment banking, corporate finance analyst position gives you the best return on your college investment of any career by far. These jobs are highly selective, highly competitive and highly stressful. Remember "The world needs ditch diggers too Danny" |
#20
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Re: Questions about other professional salaries vs. investment banking
[ QUOTE ]
The investment banking, corporate finance analyst position gives you the best return on your college investment of any career by far. [/ QUOTE ] WTF? |
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