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


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

  • zeeza01zeeza01 Registered User Posts: 2 New Member
    thanks Alexandre. i am really happy you replied me and i would like you to tell me
    how it is working in dubai in an investment bank. i wanted to be an accountant or else go into forensic accounting....but i changed my mind and decided to into investment banking coz the pay is more. the main reason why i really want to work in dubai is because i feel they are a lot of opportunities in that city. i would really appreciate it if you tell me more on IB and ACCT and also about working in dubai.right now i am in my second year in acct.
  • AlexandreAlexandre Registered User Posts: 24,630 Senior Member
    You don't want to start your career in Dubai. Dubai is a great place to work once you are established, but you really want to go to a financial center like London, NY, Frankfurt, Zurich etc...for your training (first 2-3 years).

    By the way, I am no longer an IBanker. I am now the HR Director at a Private Equity firm.
  • UntiltedUntilted Registered User Posts: 1,980 Senior Member
    "I am now the HR Director at a Private Equity firm."

    ooops, perhaps I should be more careful when I post on CC. ;)
  • AlexandreAlexandre Registered User Posts: 24,630 Senior Member
    We must always be careful what we post untilted. My current boss is a Buckeye! Well, he got his MBA from IMD (Switzerland), but his undergraduate degree from OSU. When he first interviewed me he looked at my CV, then looked me straight in the face and he said "University of Michigan...not good!" Two minutes later, my cell phone started to ring. The ring tone you ask? Why, Hail to the Victors naturally. I got the job there and then! LOL!
  • bipolarbearbipolarbear Registered User Posts: 79 Junior Member
    I didn't bother to read pages 2-6 but what Alexandre claimed on page 1 about his making near 500g is the biggest crap I have ever heard

    First of all, if we're talking banking (IBD...not trading or other finance)

    1. no analyst or starting associate comes close to that range (vp level is that kind of money)

    2. years ago, ibd was considered to be complete crap... ibd wave didnt hit until the 90s, before that it was all trading, and corpfin people didn't generate much revenue at all

    even if alexandre somehow started as an associate, no way he could have made 500k as a third year associate before the big ibanking boom

    I think people should be cautious of what they say, because if some ignorant or gullible person thinks a third year analyst can even make half that money he is delusional

    standard ibanking pay for 06 was 60k + 50-80k bonus = 110-140k
    07 estimates are 140-160k overall, though that's still very optimistic
  • AlexandreAlexandre Registered User Posts: 24,630 Senior Member
    Bipolar, I never said that basic salaries for analysts was in the 500K range, nor did I say that first year analysts made 500K, even with bonuses. I said that third year analysts can make large bonuses. Basic salaries for first year analysts range between $50,000 and $70,000 depending on the Bank. Bonuses, as you pointed out generall hover between nothing (for poor performers) to over 100K (for potential stars). But by third year, well established analysts can earn bonuses in the $250-$300K ball park, although admitedly, it is not common.
  • southpasdenasouthpasdena Registered User Posts: 1,718 Senior Member

    Luckily this site is dated enough to be of use and shut your mouth (this is to bipolar)
  • TheMK99TheMK99 Registered User Posts: 1,019 Member
    With Alexandre's experience I don't think anyone should be calling BS on him. He contributes greatly and is actually experienced, unlike some HS kids on this forum debating over the average IB bonus. Seriously, when you get the IB job or the IB interview then worry, for now get a hobby or something -_- .
  • ilovebusinessilovebusiness - Posts: 263 Junior Member
    is alexandre is really what he says he is why would he waste time on cc, also he responds to post very quickly showing hes on cc alot, doesn't he have better things to do? why isn't he busy right now making his 500k?
  • canadian1989canadian1989 Registered User Posts: 70 Junior Member
    maybe he's out there to help highschool kids with little knowledge about the industry make right career decisions to promote their learning and future...never struck you, huh? by the way alexandre, I have to thank you for something you did about 2 years ago. a year and a bit back, when i was still a junior in hs, i was searching for usnews rankings and some information on the b-schools i should apply too, and i came across cc. got to tell you that, unknowlingly, you played a huge part in my college decisions and I have to thank you for that. Great advice and great job! You should be proud of yourself and the positive influence you have on highschool kids which leads them to make good decisions about their future career and life!
  • jbruner17jbruner17 Registered User Posts: 303 Member
    Here's a good quote about IB:

    IB is not a 100k job out of college. IB is two 50k jobs out of college.
  • red sox 7327red sox 7327 Registered User Posts: 765 Member
    s alexandre is really what he says he is why would he waste time on cc, also he responds to post very quickly showing hes on cc alot, doesn't he have better things to do?

    Why do you care what Alexandre spends his time doing? It is not your life so mind your damn business.
  • bipolarbearbipolarbear Registered User Posts: 79 Junior Member
    I don't see how that link "shuts my mouth."

    I think it only shows your lack of reading comprehension.

    If you had read my post, I made two points

    1) Pre mid-late 90s, nowhere near the banking boom salaries of 200+k, it was all about sales and trading (mortgage back securities, junk bonds...) banking salaries were only mediocre compared to today

    2) Alexandre claims a third year analyst to be making 500k. That's complete bullcrap, even today. Can you even read the site you posted?

    Salaries in Investment Banking (with bonus)
    Job Level Bulge Bracket Regional Player Prerequisite
    (degree/yrs experience)
    First Year Analyst $60K - 110K $30K - 70K Bachelor's
    Third Year Analyst $80K - 200K $70K - 150K Bachelor's
    First Year Associate $125K - 235K $70K - 150K MBA
    Third Year Associate $150 - 450K $120 - 250K MBA

    Umm... third year associates are predicted to make 450K, and that's only if youre at a top bulge bracket, not third year analysts. The difference between a third year analyst and associate can be as great as 5 years if we count the 2 years of MBA and 3 years as an associate. Superstar third year analysts today MIGHT be able to go near 300k, but even today that is extremely rare (if ever given), and it was definitely not possible twenty years ago

    So unless Alexandre uses "almost 500k" extremely loosely i.e. 6 digits... then maybe he has a point

    Mods can be helpful, but visitors shouldn't be afraid to call out bs.
  • jbruner17jbruner17 Registered User Posts: 303 Member
    Your data shows a third year analyst making 500k is uncommon. However, there are always outliers.
  • hupkoreahupkorea Registered User Posts: 219 Junior Member
    I heard about top-tier 3rd yr analysts making $400,000 and above.
This discussion has been closed.