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What kind of savings/retirement?

Points) on 5/5/08 at 8:08pm

If someone was a career banker at a BB firm starting today, what kind of retirement savings would he/she have 20 years form now, assuming a normal bonus and promotion schedule, and they saved 1/2 their bonus each year. Also, what is the normal promotion schedule in I-Banking?

I know this probably seems like a stupid question to those who are bankers (or even in an MBA), but I don't work in the business (or go to B-school) and I was wondering.

Thanks

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I-Banking Bullpen

Geez, impossible to

by captk

(Senior Orangutan, 375

Points) on 5/5/08 at 9:25pm

Geez, impossible to know.

Could be anywhere from a few million to 50 million.

- Capt K

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What is a realistic pay

by randomwalk0909

(Senior Monkey, 81

Points) on 5/5/08 at 11:18pm

What is a realistic pay schedule for 20 years anyway?

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I dunno. Thats why I asked.

by GordonGecko

(Senior Baboon, 197

Points) on 5/5/08 at 11:21pm

I dunno. Thats why I asked.

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assuming you get to md, it

by xqtrack

(Senior Baboon, 204

Points) on 5/5/08 at 11:25pm

assuming you get to md, it would still be pretty variable depending on how much business you bring in...

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Well i guess the best

by GordonGecko

(Senior Baboon, 197

Points) on 5/5/08 at 11:31pm

Well i guess the best assumption is a pessimistic one

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What is a realistic base +

by randomwalk0909

(Senior Monkey, 81

Points) on 5/5/08 at 11:42pm

What is a realistic base + bonus for 3rd year associate, VP, Executive Director, and MD?

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There is a pretty good

by AltESV

(Orangutan, 373

Points) on 5/6/08 at 2:42am

There is a pretty good compensation survey that will tell you what different years make: http://www.wallstreetcomps.com/2007_Wall_Street_Comps_Survey.pdf

As others have pointed out though, a 20 year total is very hard to estimate. By about 10 years in you will hopefully be promoted to MD (although it could take several more years) and then once you are an MD you can literally make anywhere from $1M/yr to >$50 M/yr. Admittedly, the guys who make $50+ M are very rare, but from what I've heard most MDs make somewhere in the $2-$5M range. Over ten years that's $20M-$50M, which is still a huge range. And that's not even taking into account the market conditions/changes that could occur over a 20 year span.