Investment Bankers or Anyone In the Field....

[biggie62]

Originally Posted by ThrowedInDaGame

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

Um.....your friend got 250k out of undergrad for investment banking?

You sure he wasn't at some sort of fund?

The range I've heard/read these days on the street (all-in) is like 110-140k, 70k salary + 40k-70k bonus depending on firm and bracket.

Exactly, its 70-80k flat + bonuses that range from 30-70k.  250k is not possible at a bank out of college, not even if you graduated from Harvard. 

 

[biggie62]

Originally Posted by ThrowedInDaGame

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

Um.....your friend got 250k out of undergrad for investment banking?

You sure he wasn't at some sort of fund?

The range I've heard/read these days on the street (all-in) is like 110-140k, 70k salary + 40k-70k bonus depending on firm and bracket.

Exactly, its 70-80k flat + bonuses that range from 30-70k.  250k is not possible at a bank out of college, not even if you graduated from Harvard. 

 

[supremacy]

Originally Posted by DT43

Originally Posted by th1nk

Originally Posted by DT43

you're at nyu right?
how can you be majoring in engineering?

Columbia. i'm pretty sure NYU has a School of Engineering though. 

NYU's engineering school is Polytech in Brooklyn

 

[supremacy]

Originally Posted by DT43

Originally Posted by th1nk

Originally Posted by DT43

you're at nyu right?
how can you be majoring in engineering?

Columbia. i'm pretty sure NYU has a School of Engineering though. 

NYU's engineering school is Polytech in Brooklyn

 

[cruthik3]

What kind of career can I get into when I have not worked for a big corporation yet? this is my 4th year out of college. I have been working for a family business, multiple food establishments in hospitals, since graduating. I hate it and a big chain restaurant has probably destroyed it from being successful anymore. Any suggestions?

 

[cruthik3]

What kind of career can I get into when I have not worked for a big corporation yet? this is my 4th year out of college. I have been working for a family business, multiple food establishments in hospitals, since graduating. I hate it and a big chain restaurant has probably destroyed it from being successful anymore. Any suggestions?

 

[freeze]

Nah, trust me, my friend most definitely wasn't lieing. When he first graduated, they had him training at a firm in London. He was there for a year I believe, then when he came back, he had a hefty position in New York waiting for him. He aint exactly working at Comerica yall... Besides my dudes fam is MEGA wealthy, no need to work at all really, so definitely no need to fabricate a measely 250k. But i digress, I'm not tryna brag for him, I don't know the statistics for salaries in this field, I'm just shedding light that in this market, if you have the right connections, you can most assuredly cash in.

 

[freeze]

Nah, trust me, my friend most definitely wasn't lieing. When he first graduated, they had him training at a firm in London. He was there for a year I believe, then when he came back, he had a hefty position in New York waiting for him. He aint exactly working at Comerica yall... Besides my dudes fam is MEGA wealthy, no need to work at all really, so definitely no need to fabricate a measely 250k. But i digress, I'm not tryna brag for him, I don't know the statistics for salaries in this field, I'm just shedding light that in this market, if you have the right connections, you can most assuredly cash in.

 

[reigndrop]

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

 

[reigndrop]

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

 

[money making a]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

What group are you working for in IBD? and, why did you stay on as an associate rather than going to PE/HF?

 

[money making a]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

What group are you working for in IBD? and, why did you stay on as an associate rather than going to PE/HF?

 

[joe camel smooth]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

what college/gpa did you go to/have? pm me if its too personal.
also any plans on getting an mba?

im trying to get into finance and will prob start in ib but its not where i want to stay.

 

[joe camel smooth]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

what college/gpa did you go to/have? pm me if its too personal.
also any plans on getting an mba?

im trying to get into finance and will prob start in ib but its not where i want to stay.

 

[bijald0331]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

I have heard stories about this being hell on Earth (also their real estate group)  110 hour weeks 

 

 

[bijald0331]

Originally Posted by reigndrop

Originally Posted by Freeze

yes there's a $$%@ load of money in it, IF you know the right people that can get you into the right firm. One of my good friends, fresh out of college, got a job in a great firm, that in his first year was throwing him 250k plus bonuses. In the 2nd year the bonus equaled the salary... We were both financial majors, so he was trying to get me to follow suit with him, but I decided to go to law school.

250k! hahahaha.  i think the highest last year were blackstone m/a guys, and they pulled in 190k... ducktales

the only way for your friend to make 250k first year, is if they're a wharton or harvard grad or has serious connections that works in a p/e shop.  no bb or boutique is paying that high, period

i'm leaving work right now, but fire away any questions, i'll check it tomorrow. i won't shred you like wso.

for the curious, i'm an ibd associate at a bb.  if you're in it for the money, you're doing yourself a disservice trying to make it in ib...

I have heard stories about this being hell on Earth (also their real estate group)  110 hour weeks 

 

 

[joe camel smooth]

yeah i think a couple other groups elsewhere have longer weeks if thats even imaginable

 

[joe camel smooth]

yeah i think a couple other groups elsewhere have longer weeks if thats even imaginable

 

[maddenfan04]

Trading away all your free time as an analyst for a lot of money




Very contradictory considering I imagine most want to live a life of not necessarily "excitement" but something more than pitch books and working on excel all day

But the hours get slightly better and pay goes up a ton if you can make it to VP+, making 500k+ at 26-30 years old


All depends on what you want out of life I guess

 

[maddenfan04]

Trading away all your free time as an analyst for a lot of money




Very contradictory considering I imagine most want to live a life of not necessarily "excitement" but something more than pitch books and working on excel all day

But the hours get slightly better and pay goes up a ton if you can make it to VP+, making 500k+ at 26-30 years old


All depends on what you want out of life I guess

 

[veryanalytical85]

Great info.
Currently I have a BA (sadly in a social science field

), but I wish to break into either this occupation, accounting or financial analyst. I have no certifications, licenses and/or academic background for upper div math. With only a bit of business background under my belt. Is it easier to break into the industry after I finish my MBA and develop a focus on finance? Or, should I get into the door first, by networking heavily and try to get a summer internship? Should I re-locate to the east coast or are there some established firms out here on the west coast (specifically Cali)?

Info is appreciated, thanks.

 

[veryanalytical85]

Great info.
Currently I have a BA (sadly in a social science field

), but I wish to break into either this occupation, accounting or financial analyst. I have no certifications, licenses and/or academic background for upper div math. With only a bit of business background under my belt. Is it easier to break into the industry after I finish my MBA and develop a focus on finance? Or, should I get into the door first, by networking heavily and try to get a summer internship? Should I re-locate to the east coast or are there some established firms out here on the west coast (specifically Cali)?

Info is appreciated, thanks.

 

[finnns2003]

Good thread, besides a few ducktales.

 

[finnns2003]

Good thread, besides a few ducktales.

 

[reigndrop]

northwestern ug. poli sci and econ. 3.6-3.7 gpa.. can't remember

i'm in energy at a bb.

i got into booth and a few other schools for mba, but decided against it and am doing the cfa route instead. my reason for this was generally people get their mbas to network again. that being said however, i have a pretty deep network and saw no reason to do it. also, some of you asked why i'm an associate and not in p/e hedgies... most people that go into ib wanna jump out to the buyside later, but for some reason, my goal was to be an md (corny...) and until i see my chances for advancing within my bank decline, i plan on sticking with that goal.

a lot of you have mentioned the 100+ week of work. yes its true, but as with a lot of things, you have to make sacrafices. your social life will detriorate... but for me, i enjoy finance so much it's a mere afterthought most of the time.

if you want to learn more about ib, read the book monkey business. there are exaggerations in the book, but you'll be able to discern the real from fake...

for you undergrads, generally accepted minimums are 3.5+ gpa and top 30 university. there are always exceptions to this however such as 3.3 gpa, but athelete, or 3.4 gpa but you sit on the board of a non profit, etc. you just have to show them that you're committed through your resume.

continue to fire away, i'll look at this tonight