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Day in the life of an investment banker...(this is rough)

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Replies to: Day in the life of an investment banker...(this is rough)

  • a-bomba-bomb Registered User Posts: 496 Member
    All I can say is my future is a big OUCH!
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    What other profession will pay a college graduate 70K-100K first year? Sure by hourly rate its low but what job will even LET you work for that many hours. Gotta have your priorities and make tradeoffs.
  • a-bomba-bomb Registered User Posts: 496 Member
    still...OUCH! LOL
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    From the little I have seen, most first years at IBs start at about $50,000-$60,000 base, get a $15,000 signing bonus and the typical year-end bonus can be anywhere from nothing to $100 Gs, depending on how good you are. And the typical Analyst spends roughly 80 hours a week at work.

    Your survival and level of success at an IB will depend entirely on how hard you work and how good you are. Many IBankers never reach the 500 Gs mark.
  • Penn15Penn15 Registered User Posts: 259 Junior Member
    I would say the pay for IB analysts have decreased over the years. Signing bonus is down to the $7000 range, and year-end bonus at around $15,000. So that'd be about 75,000-80,000 for first year. Not too shabby.
  • Penn15Penn15 Registered User Posts: 259 Junior Member
    Go work on your excel & powerpoint skills, boys :)
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    That sounds about right Penn. And it is amazing considering we are talking about 22 year olds! LOL
  • sempitern555sempitern555 - Posts: 3,350 Senior Member
    personally I think the french have it right with their mandatory minimal workweeks. What good is all that oodles of money if you can't spend time with those who matter to you. Psychological studies have shown that happier people tend to be people who have built strong relationships, not necessarily people with tons of gold bricks in their cellar.
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Sempitern, most of Europe has mandatory maximum working hours. But even then, Europeans, especially those in important positions or those wishing to climb the ladder, work hard. But Amricans are workoholics. I have noticed that most Americans have their career as their firstor second priority and associate more with their work and profession than with anything else.
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    Actually Penn the compensation last year and this year reached levels seen in the days of the bubble. Its reaching peaks again. All the merger activity is creating this. There was a recent NYT article on this and the average compensation is climbing back to levels of 2000.
  • TpeckTpeck - Posts: 590 Member
    Now isn't the hardest part...becoming a IBA after college?
  • Penn15Penn15 Registered User Posts: 259 Junior Member
    Well I agree that compensation has risen about 15% overall for Wall Street over the past few years. However, we won't see the payout that we've seen in 2000 for a while, and they will be more restrictions placed on these bonuses (ie stock based, etc)
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    Whats an IBA? IF you mean IBD then no you are accepted into your divisions when you apply. Sales and Trading and IBD are both equally hard to get into. S&T actually requires more technical knowledge and knowledge on math and probability than in M&A.
  • dcfcadcfca Registered User Posts: 1,552 Senior Member
    I think he means investment banking analyst
  • MicaloA2005MicaloA2005 Registered User Posts: 53 Junior Member
    So, with an econ major coming from Princeton, what would u say I have the possibility of making at an Ibanking firm. Also, when do these guys retire? I hear they burn out by 40 but they make enough by then to retire off on a small island that they have bought lol. Any advice, i could use it. Also, u hear ibanking is all in New York, what about Chicago? I would love to work as an ibanker in Chicago? is the pay the same and the like?
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