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Chance to Break 7 Figures?
 

strallwheat's picture
 
Points)
 on 7/8/12 at 8:17pm

on average, what's the chance that an investment banking analyst at a BB will eventually make 7 figures at one point in his/her life?

pretty much, what percent "make it", what percent don't and are stuck making ~150k or less the rest of their lives

also, what does it really take to "make it"? can you make it in the finance world if you're just after money, or do you need a genuine passion for the field?

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Shawtay's picture

awful post on so many levels

(Monkey, 62
 
Points)
 on 7/8/12 at 8:57pm

awful post on so many levels

That_Aston's picture

Most people here place some

CF
(Gorilla, 573
 
Points)
 on 7/8/12 at 9:14pm

Most people here place some value on having money but you just made 150K sound like its nothing...

Here to learn and hopefully pass on some knowledge as well. SB if I helped.

Kassad's picture

strallwheat: on average,

IB
(King Kong, 1,191
 
Points)
 on 7/8/12 at 9:40pm
strallwheat:

on average, what's the chance that an investment banking analyst at a BB will eventually make 7 figures at one point in his/her life?

pretty much, what percent "make it", what percent don't and are stuck making ~150k or less the rest of their lives

also, what does it really take to "make it"? can you make it in the finance world if you're just after money, or do you need a genuine passion for the field?

You sound pretty disillusioned dude. Allow me to share some information with you:

- $40K is pretty fucking good for most people in most parts of the world.
- $100K per year is enough for you to live comfortably for the rest of your life AND send your kids to private school
- $1MM is the domain of the highly passionate, in any field. It's for people who stopped being in it solely for the money.
- If you want to fly around in Ferrari's and drive G6's (mix-up intended) you're in the wrong field. Go play in the NBA.

To answer your question: few.

hoodinternet's picture

The only way you can make 7

(Baboon, 123
 
Points)
 on 7/8/12 at 9:43pm

The only way you can make 7 figures is to start your own company, head a major company, or bring in a lot of deals for an existing company. Theres no way you can dick around in excel for your career and expect to make that much money. Another way to say this is the standard 2 years in BB IBD -> pre-MBA PE -> top MBA -> PE/greatness track won't land you 7 figures, you typically have to do something above and beyond what everyone else is doing.

strallwheat's picture

if IB analysts at BB start at

 
Points)
 on 7/8/12 at 10:01pm

if IB analysts at BB start at 100k+ including bonus, why is 100k such a big deal? I'm always reading shit about how bankers are pulling 7-8 figures. I guess this is only the super-elite who really really love finance? Someone just aware me, i don't understand how this is the wrong field for making money. I can't play in the NBA.

3176401's picture

hoodinternet: The only way

 
Points)
 on 7/8/12 at 10:08pm
hoodinternet:

The only way you can make 7 figures is to start your own company, head a major company, or bring in a lot of deals for an existing company. Theres no way you can dick around in excel for your career and expect to make that much money. Another way to say this is the standard 2 years in BB IBD -> pre-MBA PE -> top MBA -> PE/greatness track won't land you 7 figures, you typically have to do something above and beyond what everyone else is doing.

http://www.pinnaclegroup.com/compensationstudy.aspx

AMhopeful's picture

That_Aston: Most people here

 
Points)
 on 7/8/12 at 10:12pm
That_Aston:

Most people here place some value on having money but you just made 150K sound like its nothing...

I say this as someone who will likely never make much more than that, it is really nothing considering the pedigree of most on this board. If I never made that much i'd be a failure considering the things that were given to me in life. And most here are similar.

grapefury's picture

This thread should be killed.

(Baboon, 117
 
Points)
 on 7/8/12 at 10:13pm

This thread should be killed. OP clearly has no idea what reality is like

strallwheat's picture

grapefury: This thread should

 
Points)
 on 7/8/12 at 10:16pm
grapefury:

This thread should be killed. OP clearly has no idea what reality is like

i really don't, at least in the finance world. that's why i'm asking you guys to aware me.

That_Aston's picture

AMhopeful: That_Aston: Most

CF
(Gorilla, 573
 
Points)
 on 7/8/12 at 10:23pm
AMhopeful:
That_Aston:

Most people here place some value on having money but you just made 150K sound like its nothing...

I say this as someone who will likely never make much more than that, it is really nothing considering the pedigree of most on this board. If I never made that much i'd be a failure considering the things that were given to me in life. And most here are similar.

Personally, my # that I'd be happy with a yr after taxes is $250K. Just so I can say I make a 1/4M/yr but regardless 150K is a healthy sum.

Here to learn and hopefully pass on some knowledge as well. SB if I helped.

ValueInvesting's picture

strallwheat: on average,

IB
 
Points)
 on 7/8/12 at 10:26pm
strallwheat:

on average, what's the chance that an investment banking analyst at a BB will eventually make 7 figures at one point in his/her life?

pretty much, what percent "make it", what percent don't and are stuck making ~150k or less the rest of their lives

also, what does it really take to "make it"? can you make it in the finance world if you're just after money, or do you need a genuine passion for the field?

"stuck making 150k"

Are you f-ing kidding me? Someone needs to close this thread. This kid probably believes that every I-banker drives a Ferrari, has a countryclub membership, and a penthouse in NYC. OP, let me drop some knowledge on you. Most I-bankers don't live that "bottles and models" dream you fantasize about.

blackjack21's picture

Chances are if you're in IB,

(Orangutan, 268
 
Points)
 on 7/8/12 at 10:41pm

Chances are if you're in IB, you'll be the guy in the Benz, but unless you make it to the top you won't be in the Ferrari. To break 7 figures you have to be a big-time MD or at the C-level (CFO, CIO, etc...)

http://sportstanker.blogspot.com/

strallwheat's picture

blackjack21: Chances are if

 
Points)
 on 7/8/12 at 10:46pm
blackjack21:

Chances are if you're in IB, you'll be the guy in the Benz, but unless you make it to the top you won't be in the Ferrari. To break 7 figures you have to be a big-time MD or at the C-level (CFO, CIO, etc...)

how do you "make it to the top"? what are the attributes of these people? or is there no strict formula

Falcon's picture

no strict formula bro, just

CF
(Gorilla, 512
 
Points)
 on 7/8/12 at 10:49pm

no strict formula bro, just work hard and know how office politics work and you'll gradually work your way up the corporate ladder.

Just a sophomore looking for an opportunity to start up this dream of mine.

West Coast rainmaker's picture

strallwheat: if IB analysts

ER
(Neanderthal, 2,071
 
Points)
 on 7/8/12 at 10:59pm
strallwheat:

if IB analysts at BB start at 100k+ including bonus, why is 100k such a big deal? I'm always reading shit about how bankers are pulling 7-8 figures. I guess this is only the super-elite who really really love finance? Someone just aware me, i don't understand how this is the wrong field for making money. I can't play in the NBA.

Because being a banking analyst sucks hard. If you told me that I had to spend 100+ hours per week working as an analyst, indefinitely, I think I would kill myself.

$150k at 40-50 hours per week is nice, especially outside of NYC. For me personnally, 500k pre-tax (outside of NYC) is where I want to be. Beyond that, I wouldn't know what to do with my money.

Seriously, 7 figures? What are you even going to do with that? Buy a Bugatti Veyron? Money's nice, but family, friends, and experiences matter. Liking your life matters.

Your MDs did not get where they are by luck. They busted their asses to get there, and continue to do so to keep their jobs. A few people get 7 figures per year while maintaining normal lives; these people are likely extremely talented and lucky. Don't count on being one of them. For most of us, a million+ will require years of unwavering dedication to the job. And then you have ask, "is that extra zero worth a decade or more of my life?"

strallwheat's picture

West Coast

 
Points)
 on 7/8/12 at 11:11pm
West Coast rainmaker's picture

strallwheat: great post man,

ER
(Neanderthal, 2,071
 
Points)
 on 7/8/12 at 11:51pm
SamuelClemens's picture

Check out trading. Young

PT
(Baboon, 115
 
Points)
 on 7/8/12 at 11:56pm
TonyPerkis's picture

Hey OP...you suck

AM
(King Kong, 1,571
 
Points)
 on 7/9/12 at 7:20am

I eat success for breakfast...with skim milk

SirBarney's picture

SamuelClemens: Check out

O
(Gorilla, 505
 
Points)
 on 7/9/12 at 9:00am
Ravenous's picture

I think some of the people

HF
(King Kong, 1,347
 
Points)
 on 7/9/12 at 2:58pm
strallwheat's picture

bump for more input

 
Points)
 on 7/21/12 at 12:39pm
BlackHat's picture

Easily my new favorite thread

HF
 
Points)
 on 7/21/12 at 1:14pm

I hate victims who respect their executioners

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