What other jobs pay as well as IB?
IB
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(Baboon, 100
Points)
on 2/20/12 at 9:43pm
As comp in IB continues to disappoint, I was wondering what industry paid as well as IB, and had the potential salary upside of IB for an associate / VP - any ideas? Does corporate pay as well? How much would a Business Development director earn at a Fortune 500 company?
How about consulting? Pros/cons?






Bus Dev especially starting
Bus Dev especially starting off in bus dev is definitely not as high.
I would say (top 3) consulting, (including perks) is very comparable, and depending on who you are, the job is quite interesting.
IBD is a good way to ensure
IBD is a good way to ensure relatively strong earnings.
Real wealth is derived from owning companies (true equity, not somebody who has 20 shares of KO).
That's why there were so many bankers to be who ran off to the tech scene in the 90's it was another potential shot of get rich quick.
Consulting...
Consulting...
J. wrote: Bus Dev especially
Bus Dev especially starting off in bus dev is definitely not as high.
I would say (top 3) consulting, (including perks) is very comparable, and depending on who you are, the job is quite interesting.
Agreed that starting job in bus dev not only pays poorly but sucks too. But if you get in at director level (basically running the thing - something a 2nd or 3rd year VP could do), how much could you make?
morgan90
Consulting...
Yes, but you'll earn it. Tons of travel. And most consulting companies highlight in their contract that they DO NOT pay for personal time on travel. That means that if a contract requires you to fly on Sundays (common) or stay the weekend (not so common but it happens) then that's on your clock, not theirs. That shit gets old REALLY fast.
Of course, you can say that IBD is tough work too and I agree. But I'd much rather do 80 hours in IBD and sleep in my own bed, eat my own food, than 80 hours of consulting, 20 of which are my own time, while connecting through God-forsaken Denver on my way to Ames Iowa to sleep at a Hampton fucking Inn.
Well, Big Law can achieve the
Well, Big Law can achieve the same level of pay (~$160,000 in NYC), but you're coming in after three years of law school.
"When I was young I thought that money was the most important thing in life; now that I am old I know that it is."
- Oscar Wilde
"Seriously, psychology is for those with two x chromosomes."
- RagnarDanneskjold
a somalian pirate....they
a somalian pirate....they fucking rake
Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.
BB S&T
BB S&T
PE, if you're lucky enough to
PE, if you're lucky enough to get in straight out of undergrad ...
S&T
S&T
GentlemanJack
Consulting...
Yes, but you'll earn it. Tons of travel. And most consulting companies highlight in their contract that they DO NOT pay for personal time on travel. That means that if a contract requires you to fly on Sundays (common) or stay the weekend (not so common but it happens) then that's on your clock, not theirs. That shit gets old REALLY fast.
Of course, you can say that IBD is tough work too and I agree. But I'd much rather do 80 hours in IBD and sleep in my own bed, eat my own food, than 80 hours of consulting, 20 of which are my own time, while connecting through God-forsaken Denver on my way to Ames Iowa to sleep at a Hampton fucking Inn.
This is very misleading:
1) Rarely do you fly on Sundays. It does happen, but a good manager isn't going to let that crap happen, because it's that person's time too.
2) Compensated for personal time? Is this a union job? You charge everything to either your client or to internal for all the time you're busting your ass traveling. Regardless, you're salaried, so it's all about what your charge time is and metrics come review season.
3) Hampton Inn? (I really hate myself for being a points snob at this point. But really?)
I'm incriminating myself.
GentlemanJack
Consulting...
Yes, but you'll earn it. Tons of travel. And most consulting companies highlight in their contract that they DO NOT pay for personal time on travel. That means that if a contract requires you to fly on Sundays (common) or stay the weekend (not so common but it happens) then that's on your clock, not theirs. That shit gets old REALLY fast.
Of course, you can say that IBD is tough work too and I agree. But I'd much rather do 80 hours in IBD and sleep in my own bed, eat my own food, than 80 hours of consulting, 20 of which are my own time, while connecting through God-forsaken Denver on my way to Ames Iowa to sleep at a Hampton fucking Inn.
Pretty much everything you just wrote is false. Except the hours - that's legit. Smaller operations, particularly off-brand IT consulting shops are going to fit your description because they are far more price sensitive - they have much lower bill rates simply to get business, and live in fear of charging clients too much for expenses. Any of the shops talked about in this forum (McK, Bain, BCG, LEK, Monitor, OW, Deloitte, EY, PwC, Accenture, etc.) are going to be as follows:
(1) Most consulting shops - at least the big name ones worth their salt, are M-Th travel, home (or in office) on Friday. Probably quite a few wfh hours on Saturday afternoon as well, but at least you're at home. This can change during crunch time or for very specific projects (see #3), but is generally the rule.
(2) At these same consulting shops, you are generally salaried + bonus (or maybe K1 if you're a partner), so I'm not sure what contract you're talking about regarding payment for personal time. Also not sure where you're getting a contract that requires someone to travel on Sunday. That's all project specific, and you rotate on and off projects with no "contract". You're an employee of the firm you work at.
(3) If you do land on a project where weekend stays are requested or expected for a long period (i.e maybe client wants everyone there 8am Monday -> 5pm Friday), or you really are just working around the clock 7 days a week, a few things happen that generally don't for the M-Th folks: corporate hosing comes into play, so you might get an apartment on location for however long you need to be there. Additional cost of living expenses enter as well: laundry service, and other things they generally wouldn't pay for if you're only on-site M-Th. All of this is paid for by the client, and not your problem.
(4) Firms are generally very flexible with mixing personal and work travel / time. For example, it's almost a universal perk that if you, say, live in Chicago and are on a project in Dallas, instead of flying back to Chicago on Thursday night, you can fly anywhere you want, up to the cost of your ticket home. Maybe you go visit friends in Denver for the weekend, etc.
(5) Location: So many projects are going to be in major metro areas that, while yes you could get stuck in Bum Fuck Iowa - that's unlikely. Most people I know spent their entire careers in Chicago, NYC, DC, San Fran, LA, Dallas, Houston, Atlanta, Charlotte, etc. Rarely did I know of, or hear of people having to spend months on end in the middle of no where (even though it does happen on occasion - it's just not the rule) .
1 - I am writing about my
1 - I am writing about my experience with IBM not some risky dink little consulting shop.
2 - you guys are only thinking about domestic assignments. If you're good - and I was VERY good - you get sent overseas. So, 9 hour flight to Colombia and the client wants you there Monday, 8 am. Guess which day you're flying out? And it's a three week contract. Guess how many weekends you're spending in Colombia?
3 - It doesn't matter who you work for EVERYONE is cost conscious now. The days of the client footing the bill for anything you want are over. Most clients stick by GSA rates and I don't have to tell you how much those suck.
4 - my its was not so much about the scheduling & expenses as it was about the personal time away from home. Unless you've been there, as I have, it's hard to appreciate what it means to sleep in your own bed. Both of you knuckleheads made references ti that without really appreciating what it means.
I stand by my previous statement. You're better off slaving in ib than consulting.
although it's a front/middle
although it's a front/middle office role in working with the S&T team, how is Equity Research as a career for a few years before moving on?
NBA Point Guard. Jeremy Lin
NBA Point Guard. Jeremy Lin majored in Econ at Harvard. Could have done IB after school but stuck with bball and now he's reeling in 800 grand a year
Just saying...
I like how this website
Or engineering and
Public accounting won't be as
OK, a bit more about myself -
engineer
The Four E's of investment
"The greatest Enemies of the Equity investor are Expenses and Emotions."- Warren Buffet
Achiral wrote: I like how
"When I was young I thought that money was the most important thing in life; now that I am old I know that it is."
- Oscar Wilde
"Seriously, psychology is for those with two x chromosomes."
- RagnarDanneskjold
Engineering doesn't pay
Looking at my friends and
relinquis... Killing the GMAT this December; Over/Under set at: 725 GMATs.
no one is going to mention
Petroleum engineering. I know
neanderthal wrote: Petroleum
The Four E's of investment
"The greatest Enemies of the Equity investor are Expenses and Emotions."- Warren Buffet
Equity Research pays pretty
UncleMilty wrote: Achiral
GentlemanJack wrote: 1 - I am
Just FYI - in Asia, IBD pays
kmess024 wrote: neanderthal
Achiral wrote: I like how
Interview Guides
WSO Resume Review
PORN STAR
I need a crib, a big estate, I need a boat and that need a lake, I need some salmon that need a plate, that need a chef so I feed my safe
From trading equities to slanging wine in Latin America
A ship is safe in harbor, but that is not what a ship i
shorttheworld
shorttheworld
not valuations.
Blow jobs?
Power and Money do not change men; they only unmask them
shorttheworld
PetEng wrote: kmess024
The real earning potential
apply your IBD experiences in
I'll assume you mean outside
To all of you guys
Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.
Actuary
Power and Money do not change men; they only unmask them
How come nobody mentioned
Leonidas wrote: Big Law: I
If your dreams don't scare you, then they are not big enough.
"There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
FlakieBear wrote: Actuary If
Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
scottj19x89 wrote: Leonidas
Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.
who said that actuaries make
If your dreams don't scare you, then they are not big enough.
"There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
scottj19x89 wrote: who said
Power and Money do not change men; they only unmask them