AY8888

Which Do You Prefer? Which Is the Best Paying? Could You Give An Average Around What They Pay? Goldman Sachs or Citigroup Global Corporate for I-Banking

CaliGuy07

GS is recognized as a top ib. Both ib and hf are good paying careers. Expect around 60k until you get promoted. Also, hf's are usually harder to get into and most do it in the later part of their careers. I am not too sure on commercial banking.

bsbllallstr8

umm 60k salary

at gs you're looking at 130-150k total comp for first year

CaliGuy07

Are you kidding me?

Show me where you got those numbers?

No one will make that much in their first year unless they are the son of the CEO.

Analyst usually make around 50-60 and assosiates make 70+ with bonus.

If you are look at average salary, that is including top executives making millions. that doesn't mean the new guy will be making that much, they will be at the bottom of the pole.

AY8888

Show you? lol. Family friend interned at Goldman Sach as a junior and got paid 21600 + 7600 bonus for 8 week internship through Harvard Job Placement. Thats not bad.

AY8888

50-60k is for regional branches prob, the bulge bracket should make more because 1. you work more hours, 2. it's much harder to get those jobs, 3. you're probably recruited out of a top university, meaning HYP and not local community college.

AY8888

But, I could be wrong. I Did a 10 page report on I-Banking career and they do pay alot higher, that i can guarantee, than any other field.

CaliGuy07

salary i am referring to is after undergrad. im assuming you have not gotten your bachelors. After MBA, you can make over 100k.

Also, If you knew the answer to your question, why are you asking us? I'm just stating what I know from my research. Last thing I would want to do is make someone shoot for IB because of the pay and then not end up getting the salary they were expecting.

bsbllallstr8

yes, listen to what we are saying.

130-150k first year out of ugrad for an IB analyst at any of the BB firms in NYC.

its not nearly as much as it seems b/c the cost of living is through the roof and taxes take 40% of it anyway.

CaliGuy07

can you provide sources?

from all the research i've done, including several topics on this board. it suggest that a candidate with a bachelors will make around 60 plus bonus and sign whatever as an analyst. associates will make further more after promotions, mba, etc. i can attest to that because i have done the research myself and can provide it. unless salary has change drastically within the year, its impossible for me to accept that number until i see compelling evidence besides someone that says so online.

the66afghans

BB firms pay around 55k base salary plus 10k signing bonus and after one year's work you receive a bonus that can exceed 100%, thus pushing you over 100k. With the subprime crisis, you better have some l33t excel skillz or you can otherwise see yourself out the door.

WFBanker08

caliguy07 - you have no idea what you are talking about. these people are correct. now hit the library so you can land a gig and crack a top bucket bonus.

my brother is at lazard and made 145k all in for 2007. he still borrows from my parents though because cost of living is absurd in nyc.

Myrmidon73

CaliGuy is kinda right in the the salary is probably only around 60k, but the bonus for investment bankers is quite high (fairly often, its more than the base salary), so in the end its like 140k per year.

johnnyhoward3

Investment Banker

AVERAGE starting salary. So the top firms are even more.

And I heard if you can get your foot in the door at a hedge-fund, you can make about 300k your first year out of college.

AY8888

lol. That makes more sense. I don't know *** Cal... was talking about. If my cuz out of school was hitting 20k+ in an 8 week internship, the annual salary must be more than 100k when you factor in bonus and etc. Cali should do his research