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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)

  • southpasdenasouthpasdena Registered User Posts: 1,718 Senior Member
    i think if you noticed he was a third year in 1999 and the data reflects price in 1999 (which if you had any clue was a big year for M&A), then it would be rather plausible that he was in the 500k range. Whether he wrote analyst or associate is negligible considering i have found many that have graduated from MBA programs and still refer to themselves as analyst (but alexandre should enlighten us on this point)
  • mattistotlemattistotle Registered User Posts: 1,743 Senior Member
    bonuses for first year analysts are said to top 100k this year, he can handle it.
  • AlexandreAlexandre Registered User Posts: 24,629 Senior Member
    Bipolar, I agree with all you say. In fact, I always try to emphasize that making huge bonuses should not be an expectation when becoming an IBanker. It takes more than smarts and hard work to make those large bonuses. It takes a well-established (and usually inherited) network and luck. The vast majority of SUCCESSFUL analysts earn, bonuses included of course, between $80,000 (first year analysts) and $250,000 (third year analysts). I stress "successful" because many analysts get small bonuses, if any at all. However, there are some third year analysts who earn well over $300K, particularly when market conditions are good, like in the 1996-2000 period.
  • hallerbigballerhallerbigballer Registered User Posts: 83 Junior Member
    alexandre, maybe this has already been posted somewhere, and it also has nothing to do with this thread.

    But could you possibly give some insight on what it is like to be an American working overseas, or how you found a job like yours in the first place, and if you plan on ever coming back home?
  • AlexandreAlexandre Registered User Posts: 24,629 Senior Member
    hallerbigballer, I guess I should start by specifying where "home" is. I am Lebanese, so Lebanon is my home. I happen to be a citizen of France, much of my formative education was completed in the French system and I have spent a great deal of time in France, so I admitedly have a soft spot for France. As such, Europe and the Middle East (where I have spent most of my professional life) are technically my home. I share the culture and ideology of both those regions of the World.

    But to answer your question about finding a job in Europe or the Middle East, having some sort of established network in those areas obviously helps. Of course, speaking the local language and understanding the culture is very important. When deeling with fellow employees and the local population, one must have a clear understanding of local customs and language. Finally, attending a university with a global reputation is an added benefit. That was a very big factor in my own decision when chosing undergraduate institutions.

    For an American, it is probably easier to join a multinational firm in the US and have them move you on an assignment.

    As for moving back to the US, one never knows. I am a Green Card holder and am now eligible to apply for the citizenship. But the current climate in in the US is not welcoming for an Arab, so I will wait for a time when the Middle East and the US are getting along a little better.
  • chrispmvchrispmv Registered User Posts: 3 New Member
    I'm a student in Boston studying Econ at Northeastern, and was looking for the differences in Lifestyles/Salary for IB and Consulting. Consulting looks hot bc I'm very entreprenuerial and would love to start my own firm someday, but at the same time it involves an elevated level of risk.

    IB looks more secure other then sacrificing a social life and sleep. Any input or links on the subject?
  • HadsPHadsP Registered User Posts: 1 New Member
    I was just wondering how a CFA designation might help me in the IBanking field. I'm currently a finance major and I was planning on getting my CFA afterwards becuse I heard it was the best designation in the finance industry. Any insights?
  • Welsh0913Welsh0913 Registered User Posts: 241 Junior Member
    Most places I've heard don't really care if you have a CFA or not, although I'm sure it doesn't hurt.

    I think people have said it before, but the main consideration that most IB firms take into account during recruiting is what school you go to. If you go to a target, or even a near target school, I think the chances are a lot better than if you go to a non-target. It is a very, very competitive field.
  • stoneimmaculatestoneimmaculate - Posts: 619 Member
    Coming from Northeastern you are already fighting an uphill battle getting in to IB, and consulting values pedigree way more than most BB's do.

    The lifestyle is marginally better but the pay is less and it's more competitive to land a gig there straight out of undergrad.
  • jkill13jkill13 Registered User Posts: 18 New Member
    how heavily are places like bc and bu recruited for ibanking
  • cbreezecbreeze Registered User Posts: 4,714 Senior Member
    HadsP, you can pass all 3 levels of CFA exams on your own but to have a CFA designation, you have to have 4 years of relevant work experience. CFAs are more relevant to working in investment management, like equity research, portfolio management, not IB
  • aquamarineeaquamarinee Registered User Posts: 3,028 Senior Member
    I don't think BC and BU are anywhere near target schools.
  • southpasdenasouthpasdena Registered User Posts: 1,718 Senior Member
    bc is recruited pretty well. It is hard to find info for their undergraduate (in other words i am to lazy, do it yourself), but there is a reason that their MBA program has such a high starting salary - investment banking. Same thing can be said for Vanderbilt and other similar programs.


    Goldman recruits for

    - Compliance
    - Finance (Credit & Corporate Treasury)
    - Financing Group (Investment Banking)
    - Investment Banking / Corporate Finance
    - Global Investment Research
    - Private Wealth Management
    - Sales & Trading (Equities & Fixed Income, Currency & Commodities)

    This is for the Americas and China

    Given this and the fact that Goldman has set up a scholarship specifically for BC students (set up by BC alum in exec positions at GS), i would assume other banks would recruit as well
  • chrispmvchrispmv Registered User Posts: 3 New Member
    i should have mentioned, i'm still in undergrad at northeastern. i know that i'll need a more competetive graduate degree for IB/consulting, potentially BC if i decide to stay in MA, but I really don't want to. i'm not exactly sure what my plans are for pre-mba work, but whichever will take me closer to the two options. How important is gpa for IB/Consulting? Do they look primarily at the school/reputation/department or will a 3.5 kill me in the job market?
  • webierwebier Registered User Posts: 2 New Member
    Does anyone know how U of Miami is recruited by the Investment Banking Firms?
This discussion has been closed.