Average Goldman Employee makes $622,000

[snake201]

Originally Posted by bijald0331

planning??? wheres the 3.95 from? its insanely hard to transfer into wharton, im sure you know.

More like would like to go next year actually. Wrong choice of word, I should be sleeping right now. I got that grade at Appalachian State. Morethan likely though I'll be transferring to UNC. But I am still going to apply to UPENN, UVA and some other, because you never know with these things. Theymight like my story you know. But I've been keeping busy. 17 hour semesters. Taking summer classes right now. Next year going to be having a work study joband doing like 2 or 3 clubs. I can dream.

 

[ouch my feet]

brother got his business degreen


for some reason I read that as "my brother got business at walgreens" and I busted out laughing lol

 

[eight2one]

ballin!

 

[kickmatic23]

Originally Posted by bjamez20

brother got his business degreen from wharton at upenn last december. started at jp morgan this year. he makes very good bank but the hours are insane. works from 5am-10pm almost every day.

insane hours = insane pay. makes sense

 

[deifik]

Originally Posted by OptimusPrimeAPhiA

Originally Posted by Frankie Valentino

What do they actually do?

Yeah i never understood this...

http://zerohedge.blogspot...neering-every-major.html

 

[wawaweewa]

Originally Posted by Id Walk a Mile for a Camel

Originally Posted by VirgilMalloy

lol @ this entire thread, and lol @ people actually wanting to work in ibanking.

They have to pay people that much because nobody smart enough to be an i-banker actually wants to be one.

LOL tell that to all the guys in hf, vc, etc. with more money than they know what to do with. either you have no idea what youre talking about or youre mad you got fired from wendys due to lack of hustle.

lol Malloy is actually right and I doubt he has "lack of hustle".

The vaaaaaassssssssttttttt majority of "the slaves" do not go on to become millionaires or attain positions of any significance in the financialworld.
Most of them actually quit their 2nd year and pursue another career.
The turnover rate for the low tier positions is astronomical.

That doesn't mean being a junior analyst is bad. It is what it is. It's just not nearly all it's cracked up to be.

A few go on to be wildly successful. Many don't. Just like any other endeavor in life.

 

[reigndrop]

Originally Posted by Emmanuel Goldstein

how do i get an entry level job there? i will do anything ...

Lets, see graduate from a Top 15 University, preferably Ivy League... and have tons of connections. Also, if you guys didn't know, theybasically fired 3/4 of their first years this year... ouch

 

[reigndrop]

Originally Posted by OptimusPrimeAPhiA

Originally Posted by cguy610

Originally Posted by OptimusPrimeAPhiA

Originally Posted by Frankie Valentino

What do they actually do?

Yeah i never understood this...

The take(steal) money from average Joe's like you and me through complex schemes with complex terms such as swaps, derivatives, options, etc.

how does that make money?

I'm geniunely interested... I read a lot of new articles but get lost in them simply because they only talk about laws, nothing about actually making money or how money is made or anything...

All you need to know is that they make money by manipulating markets. They're able to move markets in ways that allow for astronomicalprofits. Goldman is basically a leveraged hedge fund.

 

[juice2352]

Originally Posted by i LyricaLJKilla i

I.Need.To.Get.In.I.Banking.

Get into a great college, do well in college and then prepare yourself for 80hr work weeks...then you'll be banking. Not worth it IMO, thereare more important things than work/$.

Originally Posted by In Yo Nostril

the average is ridiculously high because the people on top are making tens of millions of dollars. its not as awesome as it seems with regards to the average employee

Yea...because the (few) executives' salaries outweigh the (many, many) non-execs to the point that the average for the ENTIRE COMPANY reaches$600K+

 

[frankie valentino]

http://rawstory.com/blog/2009/07/ro...-sachs-behind-every-market-crash-since-1920s/

 

[skip2mylou23]

Yeah, the average is probably inflated but people shouldn't complain. It's not anyone that can make it into Goldman so it's the nation'sbrightest that are making this money.

 

[joseph camel jr]

Originally Posted by wawaweewa

Originally Posted by Id Walk a Mile for a Camel

Originally Posted by VirgilMalloy

lol @ this entire thread, and lol @ people actually wanting to work in ibanking.

They have to pay people that much because nobody smart enough to be an i-banker actually wants to be one.

LOL tell that to all the guys in hf, vc, etc. with more money than they know what to do with. either you have no idea what youre talking about or youre mad you got fired from wendys due to lack of hustle.

lol Malloy is actually right and I doubt he has "lack of hustle".

The vaaaaaassssssssttttttt majority of "the slaves" do not go on to become millionaires or attain positions of any significance in the financial world.
Most of them actually quit their 2nd year and pursue another career.
The turnover rate for the low tier positions is astronomical.

That doesn't mean being a junior analyst is bad. It is what it is. It's just not nearly all it's cracked up to be.

A few go on to be wildly successful. Many don't. Just like any other endeavor in life.

yeah that's what iwas saying bro...."tell that to all the guys in hf, vc, etc. with more moneythan they know what to do with."

for most people it's 2 years of hell that lands you much much better jobs that will certainly make you a millionaire in short time.

i mentioned that in a previous post....it's usually 2 years and then your MBA and then private equity, venture capital, hedge funds, etc. etc.

 

[wawaweewa]

Originally Posted by Joseph Camel Jr

Originally Posted by wawaweewa

Originally Posted by Id Walk a Mile for a Camel

Originally Posted by VirgilMalloy

lol @ this entire thread, and lol @ people actually wanting to work in ibanking.

They have to pay people that much because nobody smart enough to be an i-banker actually wants to be one.

LOL tell that to all the guys in hf, vc, etc. with more money than they know what to do with. either you have no idea what youre talking about or youre mad you got fired from wendys due to lack of hustle.

lol Malloy is actually right and I doubt he has "lack of hustle".

The vaaaaaassssssssttttttt majority of "the slaves" do not go on to become millionaires or attain positions of any significance in the financial world.
Most of them actually quit their 2nd year and pursue another career.
The turnover rate for the low tier positions is astronomical.

That doesn't mean being a junior analyst is bad. It is what it is. It's just not nearly all it's cracked up to be.

A few go on to be wildly successful. Many don't. Just like any other endeavor in life.

yeah that's what iwas saying bro...."tell that to all the guys in hf, vc, etc. with more money than they know what to do with."

for most people it's 2 years of hell that lands you much much better jobs that will certainly make you a millionaire in short time.

i mentioned that in a previous post....it's usually 2 years and then your MBA and then private equity, venture capital, hedge funds, etc. etc.

I agree and that used to be the case.
I don't know for sure but I'd venture to guess that the amount of HF, VC, and PE positions available nowadays is much less than was available duringthe finance boom of 2003-2007.

You're right though that most just work 2 years so they can apply to a top MBA program.

 

[joseph camel jr]

Originally Posted by wawaweewa

Originally Posted by Joseph Camel Jr

Originally Posted by wawaweewa

Originally Posted by Id Walk a Mile for a Camel

Originally Posted by VirgilMalloy

lol @ this entire thread, and lol @ people actually wanting to work in ibanking.

They have to pay people that much because nobody smart enough to be an i-banker actually wants to be one.

LOL tell that to all the guys in hf, vc, etc. with more money than they know what to do with. either you have no idea what youre talking about or youre mad you got fired from wendys due to lack of hustle.

lol Malloy is actually right and I doubt he has "lack of hustle".

The vaaaaaassssssssttttttt majority of "the slaves" do not go on to become millionaires or attain positions of any significance in the financial world.
Most of them actually quit their 2nd year and pursue another career.
The turnover rate for the low tier positions is astronomical.

That doesn't mean being a junior analyst is bad. It is what it is. It's just not nearly all it's cracked up to be.

A few go on to be wildly successful. Many don't. Just like any other endeavor in life.

yeah that's what iwas saying bro...."tell that to all the guys in hf, vc, etc. with more money than they know what to do with."

for most people it's 2 years of hell that lands you much much better jobs that will certainly make you a millionaire in short time.

i mentioned that in a previous post....it's usually 2 years and then your MBA and then private equity, venture capital, hedge funds, etc. etc.

I agree and that used to be the case.
I don't know for sure but I'd venture to guess that the amount of HF, VC, and PE positions available nowadays is much less than was available during the finance boom of 2003-2007.

You're right though that most just work 2 years so they can apply to a top MBA program.

true, which sucks for guys who didn't work at BB banks but if you worked at goldman you're probably not even feeling the squeeze.