AN 1s - How much savings pre-bonus
Just curious where everyone is for savings pre-first-year bonus, want to get an understanding of where I am, Pre-FT start, I had around $6k($4,000 or so in capital mostly from junior summer internship that went up due to degenerate TQQQ trading). I have since then put in another 6k and have around ~15k or so total in assets after growth of stocks. I do not have student loans, not because my parents paid for my education but because I was too broke and so got so much financial aid that I ended up with no loans after my internships + work study. I would love to know where everyone else is so Ik how I am tracking savings-wise/what I could improve upon. In terms of spending, most of my money has gone on rent as I got my own studio roughly 3k in rent. I understand that its not the best economic decision but I simply do not want to live with roommates and figured it'd be worth the hit, would love to know if my savings rate outside of that is in line.
I have a bit over 200k including 401k
How'd you get so much as a first-year analyst? That's an insane amount and more than most early IB associates at my BB firm.
I cheated a bit since I got a stub bonus in december
Once again asking how, even with a stub bonus your total earnings shouldn't have even been 200k. Post-tax first-year base of 110k is roughly 80k and even if you got double that as a bonus you are only at 160k... all of this is assuming literally no cost or debts to pay down. I would love some advice as to how to get to your figures, but the math simply is not mathing.
I graduated with ~105k saved from internships, working during the year, and stock growth. My parents paid for college. The other ~100k is from ~30k post tax stub, ~20k savings from salary, ~20k 401k, and ~30k in stock gains (market is up ~25% in the past year).
Ah, ye I think that seems more in line now except the 105k saved from internships, obviously a huge amount but I suppose that's the difference between parents paying for college vs. paying for college yourself. It's essentially 70k, which seems on the high end but not ridiculous for an AN1, not super helpful to really include that 105k number for comparison since other people clearly aren't able to save that much/have to pay up for college through their internships and/or work-study.
Fair to assume you are probably insufferable to work with.
There’s no way he saved that much as a first year, unless he included savings from family, etc. There’s not that many first year analysts that make that much, let alone pre tax
I work at a non—CVP/Q EB and get around $6.5k / mo post-tax. 2.5k rent and 1.5k monthly expenses (haven’t taken a serious vacation yet).
2.5 * 12 = $30k + bonus this summer of ~ $28k after tax/401k + $22k 401k = $80k saved on a salary of 120k and 70ish bonus. Not bad
Yes this seems more in line with what I should be at, thanks appreciate it! I think vacation really dropped my number as well as the rent. I am also at a BB, so my earnings are also a bit lower. Hope next week can get that number up, am at roughly ~40k with bonus and 401k factored in, but wanted to make the post without factoring in the bonus since everyone's bonus is gonna be so different.
You have only $4k a month in expenses?? Jeez man, lay off the ramen.
Rent figure includes utilities. I don’t pay for food Monday - Friday…. In a long-ish distance relationship for most of the year until they move to nyc so not spending money on that front besides train tickets and gifts
The best case is living on your salary while maxing your 401k, Roth, HSA, Etc. Then bank your bonus. Don't give into lifestyle inflation early.
Where are you living in a studio for 3k? Looking to do something similar. How is it in terms of quality / space / area
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