• Sharebar

I don't think BB's are going to be able to pay the ridiculous sum they used to pay just because of public pressure and increased funding charge/tax/regulation. It's not going to be bad pay, especially consider to other things, but I just don't expect anyone to make a million in S&T by 30 that easily these days.

What are your thoughts?

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Comments (23)

  • monty09's picture

    when was it easy?

  • derivstrading's picture

    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

  • In reply to derivstrading
    monty09's picture

    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

  • In reply to monty09
    chubbybunny's picture

    monty09:
    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

    haha you nailed it

  • In reply to derivstrading
    Jerome Marrow's picture

    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    I doubt that is what the OP talked about. Grossing $1m by 30 isn't a huge accomplishment and roughly half of that will be gone from taxes anyway. If you were super conservative, you might have 20% of that gross amount by the time you were 30, so pretty far off from having $1m in liquid assets.

    I don't think it was ever 'easy' to become a young millionaire outside of simply being lucky.

  • In reply to monty09
    marcellus_wallace's picture

    monty09:
    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

    so tru..all wall street info sessions for students should begin with this.

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  • trazer985's picture

    Don't work in a bank?

    Then it's easy.

  • bulge4lyf's picture

    Maybe if you don't do the whole MBA thing?

    22 - Analyst - 140K
    23 - Analyst - 170K
    24 - Associate - 220K
    25 - Associate - 250K
    26 - Associate - 280K
    27 - VP - 350K
    28 - VP - 400K
    29 - VP - 460K
    30 - VP - 520K
    31 - MD BOOM - $1m?

    These numbers are probably total BS.

    I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

  • DontMakeMeShortYou's picture

    Even in IB, you could be earning close to that by 30 if you go straight through... you would be close to director level by then (2nd/3rd year VP at least, which = ~750k USD, or ~400 after-tax). Accumulating 1 mil in net worth by then is doable if you're frugal enough. The problem is, most of us aren't. I'll admit... I enjoy the money I earn and don't regret it in the least

  • monty09's picture

    I will put it to you like this... I was at BMW looking at a new car... next to me was a young gay couple looking at M5 ($98k).. I asked my wife how a guy that young could afford that car... easy.... the two things that take most men money is not in a gay mans life... Wife and Kids

    so out of wife, kids and taxes...GOOD LUCK

  • In reply to monty09
    Bravo's picture

    monty09:
    I will put it to you like this... I was at BMW looking at a new car... next to me was a young gay couple looking at M5 ($98k).. I asked my wife how a guy that young could afford that car... easy.... the two things that take most men money is not in a gay mans life... Wife and Kids

    so out of wife, kids and taxes...GOOD LUCK

    Good luck indeed hahaha

    Please don't make me talk to you like an asshole...

  • trazer985's picture

    sounds like the no wife or kids option is a pain in the a*** though.

  • manbearpig's picture

    ^LMFAO!!!

    -MBP

  • In reply to monty09
    Bondarb's picture

    monty09:
    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

    Not true. The cost of being single even if your going out regularly is nothing compared to the cost of having children. Bang out kids before you are thirty and the whole math changes. Year 1 for a baby in NYC = at least 5 years of chasing around girls as a bachelor. If you are an MD at 30 then Year 3 for your kid you will likely be carrying around a 20k/year private school bill along with at least one full-time nanny.

  • In reply to Bondarb
    happypantsmcgee's picture

    Bondarb:
    monty09:
    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

    Not true. The cost of being single even if your going out regularly is nothing compared to the cost of having children. Bang out kids before you are thirty and the whole math changes. Year 1 for a baby in NYC = at least 5 years of chasing around girls as a bachelor. If you are an MD at 30 then Year 3 for your kid you will likely be carrying around a 20k/year private school bill along with at least one full-time nanny.

    I think you overlooked that fact that you're going to need, at least to my knowledge, a broad to make that baby happen. Financing that broad will soak up a lot of your cash, the kid will just compound that problem.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford

  • In reply to Bondarb
    monty09's picture

    Bondarb:
    monty09:
    derivstrading:
    Mil before 30 cumulative surely isnt the most difficult thing if you are in an FO position the whole time.
    Start at 21 (all in GBP)

    22: 65k
    23: 80k
    24: 100k
    25: 120k
    26: 140k
    27: 140k
    28: 140k
    29: 160k
    30: 160k

    In total that is: 1.1 mil GBP

    And I feel that those figures are on the conservative end.

    Per year on the other hand...

    if you live with your mom the whole time it is HIGHLY possible...

    let me inform you on the two B's that will break every mans wallet.... *itches and booze......

    Not true. The cost of being single even if your going out regularly is nothing compared to the cost of having children. Bang out kids before you are thirty and the whole math changes. Year 1 for a baby in NYC = at least 5 years of chasing around girls as a bachelor. If you are an MD at 30 then Year 3 for your kid you will likely be carrying around a 20k/year private school bill along with at least one full-time nanny.

    for the slow people...

    you spend x($$) to met y(girl)

    you send more of x to get y to open legs

    you send even more of x to buy diamond for y cause she makes yours little toes curls

    y takes x to zero on wedding, house, suv

  • In reply to Bondarb
    monty09's picture

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  • kiwiserv's picture