I know the market is 70K for base for 1st yrs in IBD.
are there still boutiques/mm banks out that pay 60K for base...?
this is the case for my friend and i felt pretty bad.
Is he alone in this thread?
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jimbo...in my days, before the Internet made it so easy for lonely losers to trash talk anonymously, we would beat freaks like you.
hahahah even better
It depends geographically too on the boutique/mm. There are some in lower cost of living cities (aka not in NY, Chicago, LA, SF) that do pay 60. In that case though, it might even be better (strictly speaking from a monetary standpoint and disregarding prestege/exit opps).
I have it on good authority that Piper Jaffray and Keefe, Bruyette, and Woods both pay their SAs 60k/prorated.
Not to steal the thread but, side question...does anyone see a step to 80k in the not so distant future for first years? I know things just went up but hey I thought I'd ask.
yes, it will be 80k in the future
I wouldn't bank on it being this year, given they bumped it to $70k just last year. It's usually every 3 years or so, assuming no craterous drops in the market.
Thank you monkeyman for that insight. Gomes...I agree with you, just throwing it out there. So, as an SA this summer who will be hoping to start FT in July 2011, I suppose it is realistic to predict I will start at 70k and potentially be receiving a bump to 90k in the second year of my analyst position.
I've heard of 60-65 for a bunch of boutiques and MM, but who's counting? at a certain point I feel like you've made enough money ;)
Who gives a shit about base salary. You are working for the bonus which one would hope will be very nice. Quit crying about 60K, you sound like a ingrate.
^ Retard, bonus at the analyst position isn't that high. The difference between the bonus isn't that great from the difference between base. And OP was just asking a question. Why the fuck did WSO give you a star?
Thirded! Down with the moderator!
Why the fuck did any adcom let someone with your grammar into college? Whether they pay 60k or 70k matters less what they want all-in comp to be. A certain elite boutique was definitely paying people 60k instead of 70k; do you think that means they got shafted or that they just got a bigger bonus?
You have to understand that during an analyst's first year, his time is worth about $9/hour. Fortunately for you (and previously Anthony and I), the firm graciously chooses to pay analysts more so they are not forced to stay in a tent in central park.
$60K/year is plenty of money to do just fine in NYC. You just can't live in Manhattan your first year. And in the aggregate, it doesn't matter how the money gets paid over the long run- what matters is the total. Anthony has worked in this industry for a while, and if you're lucky, you might wind up working for him.
You can definitely live in Manhattan your first year on $60k. Almost all the analysts in my class did (this is before they raised base). Don't live outside Manhattan unless you have to - you'll find the daily commute and nights out much more difficult to handle. Just find a room mate who's willing to live in a conv. with you.
shafted. thats what i think at least.
First-year analysts will get paid 70k for their first year (2010-2011). What do you think our base salary will be when we become second-year analysts... what's the usual raise? Do you think we'll get 80k for our second year (2011-2012) and 90k if we decided to stay for a third year (2012-2013)?
1) 60K is common among MM and regional shops
2) Complaining or feeling bad over 10K is myopic and foolish. It is about all in comp, end of year bonus. Who ever said bonus for an analyst is small is incorrect. An analysts bonus can vary shop to shop. 60K at a shop that pays out 50-60-75% of base in a good year is way better than a place that pays you 70K with a 10-15K bonus.
3) AMZ, if you are going to call me a retard please learn do not start a sentence with AND.
Retard, if you are going to talk grammar to him, please learn to use the word TO.
And I think Anthony used "To" correctly.
As far as I'm aware, the star doesn't make you a mod. Otherwise, I would have been tempted to delete the post where the ignorant college kid calls the guy who's pretty established in industry a retard. The star just means that you have a job in industry.Anthony isn't trying to be mean- he's trying to help everyone understand the situation- so you can be better prepared when you're going in. Frankly, most analysts aren't worth $60K/year for their first several months, and it's bad form to complain about the money. Rather, you should focus on making yourself as valuable as possible. If you have a smart boss, the money will follow; if you don't have a smart boss, you will have to ask for it and twist some arms after a year or two.
Classify "to" as a preposition. A preposition indicates the directional, spatial or logical relationship of its object to the rest of the sentence. It is used at the beginning of a prepositional phrase (to the store, to the market) or an infinitive (to run, to play).
Shop to shop sounds directional to me.
Thanks Illini.
God, people make mistakes. I feel like correcting someone's grammer is such a petty little thing to do. How funny when someone does this and in the end they are wrong.
Anthony, I agree with what you're saying, but seriously, let he who is without sin say it....
How did Anthony D get -3 for his post? Some of these kids are getting stupider and stupider. Singularity's post above was pretty spot on.
@Anthony: "to" is referring to your third sentence....
"I feel like correcting someone's grammer is such a petty little thing to do. How funny when someone does this and in the end they are wrong."
I stand corrected. Your comment have proven to me that you're not retarded.
You're a fucking moron.
Nobody has any clue what you're talking about with the "faulty" "to" in the third sentence. If you're that obsessed with grammar to argue about nonexistent grammatical errors, you're probably not going to do that well anywhere outside of publishing or journalism. Discussions like this are ones that probably make hiring managers rethink their policies on hiring liberal arts majors.
Do yourself (and your future coworkers) a favor and learn to let it go. It might be good to start now before you shoot yourself in the foot even more in this discussion. It's ok; you're just a college kid- you don't have to be right all the time. That's the associate's job. ; D
A star does not mean you are a moderator, it means you are verified through you're work email. So basically the people with stars (in general) all have jobs and 4 year degrees. I personally just finished my masters after taking a year off from work. I take effort to not comment on things which a) I have never done or b) do not have close personal knowledge of. I am on this site and post because I enjoy helping people and love finance. Anyone that knows me knows I am always happy to referrer someone to people I know in the industry, provide help, send models, etc.
I did not start the grammar war, nor do I really care. Seeing a thread go off track with people calling each other moron and retard is precisely why more quality posts are not coming up.
@ The Shit -- you are what, a junior now at whatever school you go to. How about you politely disagree rather than call someone who has actually worked and has a masters a retard and a moron.
@ AMZ -- Please do some research on the industry before you call anyone names, all it does is show you're immaturity
I make plenty of spelling and grammatical errors. I have adult onset ADHD or something ha. Who cares.
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