Another compensation question

goblan:

Patrick Mastur:

If not as flashy as is portrayed in movies (forgive me), then why do so many people want to break in?

Because of where it leads afterwards or because everyone told them IBD was the only option they should pursue

nailed it. everyone i know who recruited ibd with me this time around was either because of 1. exit opps or 2. 'prestige' (i really hate that word)....

Patrick Mastur:

So the compensation really isn't that great?

Relative to the majority of other entry level jobs that college graduates tend to get, yes it definitely is.

And even in general, that compensation puts you into at least the top 5/6 percent of personal income in America.

It can be difficult for living in NYC, since NYC is ridiculously expensive. And you almost definitely aren't in the same personal income top percentile when only looking at only NYC residents. But for the entire country, you are in a very nice position.

Patrick Mastur:

So the compensation really isn't that great?

70k aftertax monthly is 4k. 2k for rent cellphone, internet,etc. 2k left. realistically 20 dollars a day on meals/coffee/subway,etc. other than dinner, which is comped by your bank. 1.4k. Alcohol, a couple nice meals, clothes/misc. expenses, some $$ tucked away for a rainy day. You're not 'broke,' but you're not balling out.