<p>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.</p>
<p>Go work on your excel & powerpoint skills, boys :)</p>
<p>That sounds about right Penn. And it is amazing considering we are talking about 22 year olds! LOL</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>Now isn’t the hardest part…becoming a IBA after college?</p>
<p>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)</p>
<p>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.</p>
<p>I think he means investment banking analyst</p>
<p>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?</p>
<p>Yeah Princeton gets recruited from banking firms.</p>
<p>Princeton is a major hunting ground for IBs. And NYC is really the heart of the industry. You obviously have opportunities in Chicago, San Francisco, Miami and a couple of other cities around the US, but NYC is the hub.</p>
<p>Thanks a bunch. Great advice.</p>
<p>alexandre, would a leadership degree with a minor in any concentration of busines be any good? it seems like a leadership degree could do a lot of good in any area of the business world</p>
<p>What do you mean by “leadership degree”?</p>
<p>well im going to the university of richmond next year and they offer a bachelor of arts in leadership. im just asking would that help at all or not? im still gonna major in it id just like your opinion</p>
<p>University of Richmond is a great place to study. You will have a great experience there. </p>
<p>I am not familiar with the Leadership major, so I really cannot speak to it. What I recommend to all people, regardless of their major, is to learn about Investment Banking. Know what it is that they do, understand the mindset and lingo and get acquainted with the lifestyle and bahvioral traits of the IBsanker. </p>
<p>Also, take as many classes as possible in Economics, Math/Statistics and Finance/Accounting. If you can take 4 or 5 classes in each of those 3 subfields, you will be in great shape. Furthermore. perfect your skills in at least one foreign language and in the use of report and presentation programs, like Excel and PowerPoint. If you can get to a level where you can speak a foreign language with ease and be an expert at Excel and PowerPoint, you will be much better off.</p>
<p>Finally, PLAN! If you do not go to a school that is a major IB hunting ground, and I do not believe Richmond is a major IB hunting ground, you have to plan well and take aggressive initiative. But do not be discouraged, it can be done.</p>
<p>Well, that’s all I have to say…I think! LOL</p>
<p>I noticed earlier in this thread that someone asked what their chances as a Princeton graduate would be for becoming an investment banker…What i basically want to know is what my chances as a Fairfield University graduate, with a Finance major are…?</p>
<p>Alexandre - I’m going to Babson College next year and I am interested in knowing whether IBanks recruit from Babson? However, I am more interested in consulting at this point, do consultants have similarly demanding schedules?</p>