How much you saved after 3 years?
As the title says, how much did you guys save after 3 years of being an analyst in say London/EMEA??
Trending Content
| +152 | How to stop feeling like shit for not making it in IB? | 57 | 47m | |
| +115 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 58 | 40s | |
| +77 | Updated LA Banking Scene (2024) | 57 | 9m | |
| +38 | Ranking banks that went under | 20 | 5h | |
| +34 | Burnt Out M&A ASO | 18 | 3h | |
| +32 | A strategy for SA applicants late to the game like myself | 15 | 10h | |
| +29 | Relevance of A-Levels for U.K. London recruiting | 21 | 17h | |
| +26 | Series 79 Help / Tips to Pass The First Attempt | 11 | 2d | |
| +26 | Intern Ettiquette | 4 | 14h | |
| +23 | What are hours like at BBs in London? | 47 | 12h |
Career Resources
US analyst, finished year 1 at an EB and have $115k saved and came into IB with maybe $20k
Holy shit. What was your first year all in comp?
Pre tax about 160 (top bucket). Honestly I got worked so hard that I didn’t even get to spend the money. Also made a good amount on my random stock investments (thx tech bubble)
Not sure it is possible to save $95k on $160k pre-tax but might be missing something
Yes you are missing return on investment which was mentioned
Saw that. Figured less than one year of returns on almost all of that comp wouldn't move the needle a ton.
Excluding investments, how much of that savings is in cash from your banking comp
Very possible in a low-tax state. Live way below your means and be as frugal as possible. The little things add up.
Impressive
Above answer is impressive, what is a more typical amount to save on street comp in first year in NY? How much of base is possible?
Most people spend the base and save the bonus. Very possible to save some of your base salary too.
On $150k or whatever it is (sans loans) that brings you to ~$110k given the way bonuses are taxed. At this point with NY real estate, you can get a nice studio in a nice building for $24k/yr now we are at $86k. Even if you are spending $2k/mo on CC and whatever else you should still be able to save $60k+
I think that is a pretty realistic scenario in which you are living pretty well. Roommates in a nice building can get rent below $2k.
Thanks, appreciate the breakdown. Not used to NYC/city prices and had the virtual summer so don't really understand the extent of NYC cost of living yet. I remember many people say spend the base, save the bonus which seemed pretty low to me given that my after tax was about 5k a month from the base so I could see being able to save some of that, but wasn't sure if I was underestimating NY costs.
How many time do we have to say this, bonuses are not taxed differently. They are withheld differently, you pay the same tax rate on all your earnings. Edit: Sorry this seemed a little snarky, did not mean that
Taxes bring you below 100k on 150k in income in NYC. Net effective rate is like 35% at this level for single filers. Shit is insane.
Throw other payroll deductions like healthcare premiums and you’re in the low 90s in take home pay.
Above answers are for the US, very different. My friends in LDN saved £30-50k in 2-3yrs.
Saved about ~GBP 95k after 3 years of IBD in London (1 stub + 2 full year bonuses). Lived pretty frugally and did not make any big purchases.
Including pension scheme?
No. Had an additional GBP 15k in pension.
Bumping for London stats. Personally c.60k GBP after 3 years (ignore my tag) working in CB and Credit
Officiis fugiat voluptatum numquam eveniet voluptatem reiciendis at. Iste sit facilis animi quam ullam quo qui. Accusamus laborum modi inventore officiis omnis sapiente aut consequatur.
Repellendus vitae asperiores voluptate aut voluptas. Id sequi dignissimos earum et. A totam quod ullam eum ratione. Eum ipsa et autem autem quidem. Architecto quia ab eius in rerum cumque. Quibusdam ab qui reiciendis quidem provident sapiente et.
Porro aspernatur iusto quam animi qui et. Veniam et rerum eum. Aperiam error hic tempora. Ipsa ducimus sint repellat et atque nam sed. Necessitatibus enim aliquam voluptas quo. Doloribus eligendi omnis dolorem ut ipsa modi necessitatibus. Neque quia repudiandae ex qui repudiandae perspiciatis earum.
Vel eius ad molestias. Aut quo officia aut sint earum et. Necessitatibus cumque aliquam adipisci nemo sapiente sint qui.
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...
Non itaque voluptas soluta ea aut fugiat. Ut dolorum laborum placeat qui officia placeat est. Maiores ab nobis explicabo dolor qui. Enim dolor dolor totam sint minus tenetur excepturi. Nostrum veritatis inventore dolorum cum et dolorem sed. Ut architecto iure repudiandae necessitatibus.
Impedit molestias expedita ab minus quae. Quae earum natus dolores animi. Sapiente voluptatem harum amet et sint ea excepturi.