| You do not start off as an MD. You start off as an analyst if you are entering the business from an undergraduate program or as an associate if you just attained your MBA.
Attaining the MD level is not easy.
Investment Banking ranks essentially work as a pyramid -- fewer individuals reach the next level as they progress.
Also, I believe Cesare's comment: "at the beginning the money (150k-1MM all in) isn't anything great" was referring to total compensation for Non-MD investment bankers, hence the follow-up about moving to the buy-side. |