I-Banking Salary Potential Question

<p>Hey, I'm interested in iBanking.</p>

<p>How have some Cornell grads fared in the past, as compared to the average iBanker? Do Cornell grads in general make more 6 figure or even 7 figure salaries doing iBanking?</p>

<p>Are you talking about 1st yr graduates? If so, companies don't really differentiate salaries due school. If you qualify, you're in, then you take their standard salary. The current trend for 1st yr seems to be $60k+$10k+ 50-125% end of the year bonus. I think 7 figure salaries is a "little" too high for 1st year. For more info on this stuff, go to ibankingoasis.com.</p>

<p>For top banks ie: Goldman, Merrill Lynch, expect 10k signing bonus, 60-70K salary, and Merrill just posted their average bonus for 1st year M&A analysts as 108K. It depends also what group and sector you are in. If you do sales and trading you work 6-6, and pay for all of your meals/transportation, etc, but work better hours and only 5-6 days per week. M&A is like 7am-1am approx., but they pay for a car home every night/all meals ($50 per day on weekends), but you also will work 7 days per week many weeks. </p>

<p>If you are in banking you will make around the same no matter where you came from. You may be more likely to get an interview if you are from Cornell, and banking in general will make more than most first year jobs. Your salary will increase exponentially each year, but many leave after 2 years to go into private equity, venture capital, or get an MBA.</p>

<p>jcas are you sure that 108k isn't the total compensation?</p>

<p>quick curiosity question- how do the non-ibank companies that recruit from Cornell pay compared to Goldman and the like?</p>

<p>a few of my friends who are doing banking were all talking about it and showed me a pdf from merrill with 108K as average bonus for m&a. they are all expecting 150K+ by the end of the year.</p>

<p>damn where do i sign up lol</p>