kmzizzle

doing research is boring!

CaliGuy07

are you guys positive that is the number for undergrad or mba?

i've done research and it says that salary not including bonus for undergrad is around 50-60ish where as mba is 100k+?

so who's research is right? my sources are just as credible as yours. i've gotten my figures from this board and sites like vault, alumni, careers in finance, and so on.

johnnyhoward3

Let me tell you this. I had a contest at Goldman-Sachs in NYC last year, and in a way, it was kinda a wine-and-dine-us sort of deal (they flew us to NYC, put us up in a nice hotel, took us to meals etc). Anyways, we took a tour of the bond trading floor and I asked what these guys made first year out of college. The lady giving us the tour said between 160 and 200k depending on how badly GS wanted them. So that was out of the mouth of an employee, so I think that beats out your sources.

WFBanker08

DealBreaker.com

yes, analysts make only 60k in salary alone. however, it is the bonus that counts.

bet you didn't find that in your "research"

CaliGuy07

I know bonuses make a big big difference. But you can not count on that as salary. salary is guaranteed, bonuses are not. the op ask for salary on average.

when you sign your contract, do you negotiate bonus? no!

bonus depends on how you perform and correlation to how the company is performed. if you do bad or are in a bad economic condition, you might get a low bonus or no bonus at all. also, not all ib gives as generous of a bonus as gs.

if you guys go in there expecting to get 100k, you guys will be missing the big picture. i've been stating the salary part this whole time, but you guys seem to think that you guys are all the best with your big ego's and arrogance. once you guys make it out to the real world, you guys will realize your a small fish in a big pond.

matthanuf06

Those bonuses on dealbreaker were way too high to begin with. Although CaliGuy you kind of do have to factor in the bonus with an IB position.

By the way when did making 50 or 60 grand coming out of undergrad become bad? Most recent college grads make A LOT less than that. Then again I don't live in NYC.

CollectivSynergy

CaliGuy, quite backtracking. You were clearly referring to salary plus bonuses. Reread post #2 and your response to it. That said, however, AY8888 what the devil was the point of creating this thread asking about a subject you've written a paper on?

CollectivSynergy

Forgot to add that for most people, your total comp will be less than 100k. Although yes, you can easily top that if you perform well.

2331clk

fwiw, my son is NOT a trader or salesperson, but for point of reference...he works at Goldman, in systems. An elite (his word) group of 20 CS mostly young in their 20's, their work involves the technology for the actual trades (I'm a lay person here so cut me a little slack .) I believe he said $10 billion a day goes through his group.

Anyway, for Caliguy...he's 2 1/2 yrs out of college. Starting salary in '05 was 60 K bonus 10K. Don't let that sway you. His first FULL year out (after initial Aug to Dec stint) he was over 100K. His second and most recent year-end raise was 42% increase in base salary, and his bonus equalled his salary. So age 25 making $200K+, I can only imagine the future. And that's easily enough to live in Manhattan and save tons of money(tens of thousands), esp when it arrives as a bonus in a chunk. And I repeat he's not actual trader who apparently make a lot more (no interest in trading, CS major who loves technology but great mind for finance which is helpful) so I agree with the higher numbers given here as being entirely possible, and probable.