It annoys me people have NO idea how much I earn

Put a tag around your neck that screams you earn $400K. Now everyone knows. Simple. Done.

Well I forgot to mention one of the main problems is that for some reason money is such a taboo thing, it's seen as vulgar to ever mention it, so even if anyone asks outright I end up not just saying outright. I wish there weren't these stupid taboos, like in Norway where you can see what everyone earns across the country on a govt website - I wish you could have on your Facebook in work info along with job title what your salary and bonus is!

When people talk about bankers being a bunch of douchebags, you are exactly the type they're talking about. Totally insecure and pathetic. If you were worth respecting people would already do so - nobody but a hooker is going to worship you for your bonus.

Losers like you bring the rest of us down...

Wow, you must be a lot of fun to be around, Pepstar. What a douche. I guess your self-esteem has to be wrapped up around something.

I haven’t had this problem personally, but I do know friends that have... and usually chanting 'rolling hard with my top down... models and bottles' randomly throughout social encounters communicates your earnings pretty effectively.

on another note, 2nd year analyst... 400K all in? Is that really possible?

what a douche ! I guess money can't buy class & manners ;-)
To an earlier point, go get a hooker, tell her how much you made last year... and make sure you flex ur muscles as well so that she can tell you, you're the perfect stud !! HA

Why would you want people to know what you earn? Think about how many others in the city earn vast amounts more than u!

Also is money truly the best measure for success? - personally I think knowledge and experience is key - then people will give you the respect you seek and fort he right reason......just shows - money cant buy you happiness!!!

Pepstar you obviously need to start consuming more conspicuously.

You are a sad sad person

For my age, no, there's barely anyone earning what I do. For me paypacket taking age into consideration, coupled with employability, are good measures to compare your success with peers.

And yes, a fair few grads got $200k+ bonuses at the end of their 2nd year analyst year just now - top appraisals + a profitable area at a top bank and things are good. That's another thing that annoys me - that people outside IB just see it as one big thing all the same, if I say I'm a trader at [US bulge bracket] they'll say "Yeah I've got a friend at Dresdner doing Risk Management or something fancy, he doesn't seem to enjoy it, doesn't think its worth it, I don't know why you'd want to do something like that, couldn't you go to Bain and make the same money?"

Pepster, I think that even if these people knew how much you were making, it wouldn't generate the respect you think it would. The reason they don't know about these jobs and the payscale is that making top dollar is not what is important to them. People have vastly different priorities in life. While yours is clearly making as much money as possible, other people might see you as pathetic as you chase cash and don't care as much for family values.

GUYS STFU AND STOP GIVING PEPSTAR A HARD TIME!

For Crist's sake he's right! The man earns 400k a year for fuck's sake, Warren Buffett better watch out, because He's a GOD!!! EVERYONE WHO EVEN LOOKS AT HIM BETTER KNEEL DOWN AND SUCK HIS COCK IMMEDIATELY! All of you insignificant plebians on this board have no right to disrespect him, he's a goddamn Associate, so he clearly controls Wall Street! Now go and sacrifice kittens to repent for your sins!

You have no idea how hard life is for people who earn over 400k a year, How dare you pass judgement on this man?

Damnit, LEAVE BRITNEY ALONE!

In case you hadn't figured yet, I couldn't care less and completely ignore all the immature, purile responses that were inevitably going to come that I'm "sad" or a a "douchebag" or whatever, and only looking at the fair, reasonable responses. At school I had stick from people, and ignored them - I got into Princeton and they're working in supermarkets. At Princeton I had stick from people, and ignored them - I'm going to be a millionaire by 27, at which age they still won't be able to afford a goddamn mortgage.

What makes you think that having pursuit of money means I don't care as much for family values? My family will have a much happier, satisfying quality of life than some poor dad that can't afford to take his kids on nice holidays or send them to top schools.

your friends from princeton aren't going to respect you for being a trader or banker until you're actually making good money (read, millions). and even then, its not going to be a lot of respect as much as well 'thats what you get when you sell your soul to the man'. honestly, even though i plan on going into banking or trading, id still have a lot more respect for somebody who decided to do something like teach for america; on the other hand, i know why i want to be doing what im doing (and its not just hte money, but that is a big part). if youre doing your job for other peoples respect, you're a tool. and seriously, there are other kids who came out of princeton (GUARANTEED) who 4 years out already are trouncing you paywise (like those kids who make the jumps into hfs/pes right out). you dont hear about them because they're not that insecure that they have to broadcast it to anybody.

Pepstar, your response about "some poor dad" was pathetic. It shows you have no idea whatsoever about what it is like to NOT be uber rich (read: you're not cultured/empathetic). Studies show that money doesn't = happiness. You have no idea what you are talking about. Also, kids care much more about time than money. Time is the most precious commodity we have, not money. If you have kids one day, I guarantee they would rather have their father spend more time with them than more money on them. If not that's not the case, then they aren't kids worth keeping.

Also, the fact that you won't listen to the respondents who say you're a douche proves you're a douche. You need to ask yourself some really hard questions: "Am I an asshole?" "Why do people call me a douche?" "Is there any basis for such name-calling?" "How can I change to not be such a douche?"

Yet again, why do you assume that just because I care about money doesn't mean I'd care about time spent with family? For the record, by the time I'm having kids (age 35 or so) I will not want to be working banking hours, I plan to be retired by then (or just doing a couple of part-time side projects) so I can spend time with my family.

Well, it depends who is calling me a "douche". If an MD/Director, or a peer as successful as me called me a douche, then I would take heed. When wannabe students, people at 2nd tier banks etc on an anonymous internet forum do it, I couldn't give a rat's ass.

Pepstar, congrats on doing so well. People outside of banking will never really understand what it is. Do you really want your old classmates to respect you more because you're making a ton of money? No one likes a show-off, just dress well and play it cool. You got a 10x leveraged mortgage? "Yeah, it's a great investment. Bank takes all the risk, and I get the upside. I help financial sponsors do this for a living, so why not do it for myself?".

Titles are what they are titles. In banking, being an analyst sucks. In research, you want the title analyst. The title associate is pretty vague in general. VP does sound like a great title, and I do hope you make it there soon.

So what if your classmates don't think you're doing that great. As long as the cute girl/guy you liked knows how well you're doing and realized they missed out, that's all that is really important.

All I can say after reading the name of the thread starter is:

"Do a barrel roll!"

Damn.. you done well.. whats the bigget bonus you've heard/come across then within IBD?

As for your comment, isn't it better that people outside IB and generally, dnt know how much you earn, that way any friends that you make, you'll know that there "friends" with you because of your personality and not just your money! Same goes with potential gf's or wife.. dnt want her marrying you and then divorcing you (but you would probably get a pre-nup)
----------------------------------------------------------------------------------------------
"The future belongs to those who prepare for it today" - Malcolm X

go out and buy a bunch of shit. and stop complaining that no one knows you have a huge salary. they do--they just don't want to mention it in front of you lest you rub it in their faces.

I'm still confused about that 310k in 2nd year. Damn that's high!

On another note, I'm not sure what sort of friends/people you were hanging out at princeton that don't know about this profession. They were there for the job fairs, they have friends in the industry, etc. Were you in any of the reputable eating clubs? All my pton buddies (in the industry vs. doing peace corps/TFA/law/etc.) know exactly what's up. And, the ones who are doing philanthropy and what not probably have a parent in the business. Pton kids (like most of the entitled ivy leaguers) are born of a certain pedigree, and more often than not, will have some sort of connection/contact with this business.

This is why I am a little confused.

This is truly pathetic--first of all, bragging about how much you make is a very low class thing to do. Are you suggesting somehow that your Princeton classmates who chose other honorable professions (academia, politics, medicine, etc) are somehow second class citizens? The OP really exemplifies the shallow and materialistic world of finance.

You could have $400k or $40k--the point is, judging from your commentary, your shallow values would still resonate.

No need to malign those who have different pursuits, to build up your insecurities. What the other graduates are doing is probably much more mentally demanding than your excel crunching.

... I am one of the people who got the best offer out of our master's program; I had the dumb idea of telling one girl, and now the whole program knows that I will be making a lot of money. Is it worth it? No.
Now a lot of people envy me for it, a lot of people have to prove themselves to me now to show me that they are better. It is the simple stuff like buying me drinks at clubs to show me that they can (not that I am complaining so much about that one ;). Yeah sure, I am happy about my paycheck, but do I want people behind my back saying what a fucker I am for making more than them? All you can bring is envy from your peers, back home in the states no one knows how much I will be doing except for my best mates. All they know is that I am in London doing something with finance. I am still the same and my friends are always respected me for who I am, and the way I treat them. Money will never gain anymore respect from them.

One thing that I find completely disgusting though pepstar is your comment about a poor dad. My family had some financial problems that forced us to move, I did not get a poney when I wanted one; but for nothing in the world would I want a rich dad. My father took care of me, he helped me out, loved me. He taught at an ivy league school way back in the days when he could have been making millions at a corporation, he just chose a different path to enrich his life. He taught me math, english, music, you name it. No amount of money will ever be able to replace what my father has brought to me. So if you think you will have a happy family because you can send your kids away on vacation, think again.

-------------------------------------------------------------------------------
Remember, you will always be a salesman, no matter how fancy your title is.
- My ex girlfriend

_

I am surprised you have friends.

I think the problem is he doesn't have friends...but if he tells people how much money he makes, then maybe he will have friends. That's why he's all pissed off that people don't understand. He feels that if people DID understand how much money he makes, he would have more friends.

you're a dickhead.

Everyone has friends in the industry. However, their impression is that we all work 100 hour weeks for crummy $60-70k salaries, they say how on an hourly basis that's less than what people at McDonalds make, they assume the only people earning real bucks are the MDs and Presidents which we'll most likely never be. Even people knowledgeable with the business would think no way could you get $300k+ bonuses as a 2nd year analyst, because any real info they'll have will be from people at 2nd tiers / not the hottest profitable desks, so they'll think $100k at best maybe.

Anyway, thankyou for some excellent, thoughtful, well-argued responses. If I get into the frame of mind that it's a GOOD thing people don't know what I make as they'll be envious in a negative way if I did, that should help.

What eating club were you in, if I may ask?

your friends are not really that knowledgeable. Most of my friends definitely know how much money we make. I've never heard of the 300k bonus for a 2nd year..but again, if you happened to be in a ridiculous group (along the lines of prop trading or something very specialized and lucrative), that is awesome.

- shrug. - Just think it's kind of odd that your Pton friends seem so misinformed.

LOL?

Now imagine if Pepstar got a brain tumor tomorrow...wonder how much can money help you there?

Remember, not everyone likes rich people. In fact, there are a lot of people that would gladly kill some rich 27yr old fuck. Keep what you make to yourself. Think about the way the 2nd richest person in the world lives. Isn't it best to have what you need to have and let the rest grow? Personally speaking, when I start working, I intend to sock away as much as possible through my two or three year analyst stint. Even after that, I intend to keep the money growing and keep my expenses low. If your friends did know how much you make, it would definitely change the way they act around you.

Bingo. I actually hate telling people what I do. My roommates and friends (going into consulting, law, finance, teaching, non-profit etc.) asked me what I would be making when I got the job. At that point, you can't really lie. I would rather no-one knew and I just got to do my job. Money or suspicion of largess complicates relationships and distorts behaviour in the wrong way. Don't want any of that, want my drinking buddies from freshman year to treat me the same way as always.

I hope we have the same rapport with my friends (no talk about money, period) when I am 40 and (hopefully) doing rather well and are they (which I am sure they will be, they're all very talented).

Aside from the fact that this is obvious flame, the solution is that he needs to spend more in front of his friends - nicer clothes, pay for the whole bill when they're out eating, and so on

i didn't know that base for 1st year trading associates (120K) are higher than banking (95K). I know that bonuses could be different though. can someone confirm? And pepstar, before you start insulting me, I work in a top tier BB too.

Even people in Cash Equity Sales got $200k bonuses end of their 2nd year analyst year (after $90-110k 1st year) at my bank. Top-end structuring/trading grads, $300k end of 2nd year is not unrealistic, given the enormous P&L they can personally be responsible for.

But the real question is, is your penis as big as mine?

Your earnings are impressive, and I respect your success.

You should spend more time with other successful people, enjoying the finer things in NYC.

People with less money will only be envious.

I suggest you write a check out to St. Jude's hospital or some other charity. Your friends would really respect you then.

Everyone in banking seems to know how much we make, but no one outside apparently does. Why, every time a top ten list of the highest paying careers comes out banking is never on it? The list is always filled with medical and scientific positions, with a CEO making it on their towards the bottom with an average salary less then what a first year analyst makes

Something tells me the Ptons you're running into are old money and you are not. You don't seem to have the class or manners. Perhaps they aren't impressed because you want to scream about your money and are insecure while they are secure and have funds that you don't know about. Old money whispers wealth- it doesn't shout. Maybe they chose what they chose because they had the luxury of doing so- no debt to weigh them down after they graduate and connections to keep them safe. You were probably one of the few kids to get into Princeton while others at your school "are working in supermarkets". It's admirable that you got in and now work in banking, but it seems to have left you with a sense of entitlement and a desire to lord it over others. The vulgarity of conspicuous spending is for the nouveau riche who feel they have earned the right to show-off.

Also, if you were born with money, you'd rather people like you for you-not for your money. You shouldn't want respect for money. If you do, it means the only special thing about you is money and nothing else. I have friends whose families don't do as well as mine and I don't attempt to lord this over them. It's ridiculous. I don't want them to be friends with me for money, but rather because they like and respect me. I am modest because I know there's always someone out there who has more than me, and I think most Ptons realize that as well, so maybe that's why they don't feel a need to revere you.

First off, congratz on the success, it seems like you're doing damn well.

Second... come on dude, you need to be more humble. So people have no idea what you earn. You just said you don't care if someone calls you a douche unless they are an MD or what not (ie. more powerful than you), so why would those "lower" not knowing your salary matter?

Also, having this egotistic, narcissistic view can't be good.

Just keep making the shit loads of cash, and stop worrying about others ideas of your salary. If it matters that much, tell them in a respective manner, or buy a Ferrari and when they ask, say you paid for it up front.

You're my hero. Get me an internship doing something- anything.

CitySophisticate,

They do not sound like old money, except for his mention of "philanthrophy." Look at these quotes:

" 'Nice, you must have got $20k or something incredible like that'!!! Similarly I said I am going to buy a $800k apartment now and someone said 'Wow so the bank are giving you a 10x leveraged mortgage?' "

Granted, anyone in their early 20s is not going to be super-mature, but I still can't see anybody from an actual "old money" family saying either of those things. The latter is particularly stupid. Also, Pepstar's remark that they won't even be able to get a mortgage at age 27 is a bit of a giveaway that they aren't "money" whatsoever, let alone old money.

"The vulgarity of conspicuous spending is for the nouveau riche who feel they have earned the right to show-off."

This is true. But how else do you expect a guy to get laid by hot girls in a place like NYC? You think they care about personality? Sure, AFTER they find out you're rich. If he had the connections and trust funds you speak of, then he'd have a shot in this city. But he doesn't, and without an impressive job he is just another regular joe.

Stevenbn,

The reason you don't see hedge fund guys and bankers on lists of "best paid professions" is because the people putting together those lists are complete morons. The reason "CEO" is so far down on the list is because it includes people like the lady down the block who is the "CEO" of her dry-cleaning business. These lists are made to include the average of each profession, which is stupid. It's kind of like pointing out that 40%+ of teens end up going to college, but failing to mention that some of those "colleges" are an utter joke.

Exactly lol. It's because all these surveys just care about basic salary not bonus, and include anyone in banking (the Dresdners, Deutsches and SocGens of the world), so bankers aren't seen for who they truely are. And thus, people assume I work 100 hour weeks for $60-70k base (not even assuming my base goes up after being here for 3yrs), and thus think their lifestyle (say, 40 hour weeks for $50k base) is a much better trade-off. If only they knew the truth.

To the other person, I am "new money" and as are pretty much all of my friends. As you may know, Princeton (and other Ivys) "old money" pret set social circles are exclusively old money, very few would want to be associated with le nouveau riche, so there's quite a divide. And similarly a lot of the hottest girls would rather be with a Rockefeller accountant/consultant than a new-money banker.

So you made $404,000 all in as a 2nd year analyst at a good NYC bank? Maybe you don't have any idea how much you're making. This is the biggest bunch of BS I've ever heard. Hopefully, it's a joke and hopefully nobody entertains you're ridiculousness any longer.

You are exactly like my parents.. who like to show off.. I guess the bottom line is insecure whereas you want people that you are doing so much better today than before (in school).. perhaps ppl used to think you wouldn't do so good, and now you want to show them you are doing good.. but you don't want to act obnoxious and said, "hey, I made 400k+ this past year.. haha"..

It is a dilemma for you...

My suggestion: "just be happy and don't worry about what other ppl think.. " My parents are still learning from that... and I get the pressures from them. sigh

Ling~

nystateofmind,

This whole thing is definitely fake, BUT I don't think his complaint is (or would be, if he were a real person) as reprehensible as everyone here is making it out to be, if for no other reason that this is something we all secretly think about in silence.