What does an investment bankers budget look like on a monthly basis. As I have looked into other forums on this topic I see that there isn't much left after each month and they didn't account any student loans into their budget. What would a budget for someone with 50k in student loans? Is it possible? Any response will help.
| +164 | The "Not So Obvious" things that get you a return offer? | 19 | 3h | |
| +94 | Is my life over after not getting GS? | 20 | 3h | |
| +64 | Best IB group on the Street | 27 | 25m | |
| +54 | BIG FOUR ARE PARADISE | 15 | 1h | |
| +46 | Thoughts and tips on how to speak like an investment banker. | 25 | 2s | |
| +43 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 22 | 4h | |
| +36 | UBS Outlook | 28 | 1d | |
| +35 | Georgetown Placement for 2024 and 2025 | 21 | 6d | |
| +33 | How to deal with egotistical team? | 6 | 2d | |
| +31 | Highest Paid Bankers in Toronto? | 51 | 1s |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Let me share my analysis.Hopefully this will get some more responses. BB IBD base is 85k, which is ~3,500$ on a semi monthly basis (pre-tax), approximately 2450$ post taxes (at ~30% tax rate). Which leaves us with 1225$ per week. 450 (rent) 30 (utilities) 30 (MTA Pass, but you'll probably get an employee discount)
70 (groceries) 200 (student loan-- could pay of 11,000$ a year) 15 (gym, unless you're a stickler for the Eucalyptus Oil scented towels at Equinox :P) 60 (lunch x6 days) 40 (misc. clothes,whey protein, toiletries etc.) 80 (eating out, partying etc.) Total weekly expenses - 925$ Weekly savings - 1225-975 =~150$ That's about 9,000$ a year. Conclusion: This is probably what we'd call a Bear Case scenario. You'd probably be able to pay off your loans in 6-7 years only with your base pay savings. Don't forge the year end bonus and the hefty pay check when we move to PE.
Anyone else wants to share their views ?
That seems pretty reasonable. You forgot bonus though, which OP could use to easily pay down any debt.
Voluptatem praesentium et deserunt voluptatem expedita dolore tempore. Et aut ut quasi. Et officiis molestiae in qui. Qui possimus mollitia similique beatae omnis culpa. Velit vel qui ullam impedit aut.
Dolore et est id eaque dolorem. Aut inventore mollitia nulla commodi error. Quia molestiae omnis laboriosam non error sed eum. Dolorem id omnis laboriosam et id. Illo quidem id eos aut nam et hic.
Consequatur earum mollitia magni velit. Est consequatur sed magnam et doloribus. Et nihil ut eum amet. Exercitationem dolor amet tempora qui ullam ad ducimus. Voluptatem magnam explicabo quas non. Est voluptas neque est natus.
Aut voluptatem quisquam autem maxime non architecto. Doloribus voluptatibus maiores id laudantium id laboriosam aliquam. Qui amet qui quisquam sint ipsa. Eos quas modi non rem consequatur dolore incidunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...