Nov 21, 2013
12 Comments
 
Rages_Polk_LLP - Certified Professional
Almost Human PE
12y

IBD Associate. Your typical IBD associate will make ~$200k+ all in as a first year, while a biglaw associate can expect ~$180k (unless you're at Wachtell, when you'll be making double that). I'd say that you work a bit less in biglaw, but the difference is marginal at best if you're in NY, maybe at 70 vs 80 hours a week. Biglaw outside of NY does tend to have better hours, but not that much, while banking's banking no matter where you go. If you're basing your decision solely on earnings potential, don't

Reply
Quote
Report
Other
  • 1
Authored by: Certified Private Equity Professional - Vice PresidentCertified Private Equity Pro
 
Kenny_Powers_CFA - Certified Professional
Almost Human HF
12y

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate. At law firms associate can range from just out of law school to an 8+ year veteran.

Reply
Quote
Report
Other
There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 
Going Concern - Certified Professional
Human AM
12y
Kenny_Powers_CFA

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

This sounds true...I mean, just look at Katrina, she is a fifth-year associate but she's competing head-to-toe with Mike who is ostensibly only a first year associate.

Reply
Quote
Report
Other
  • 1
Authored by: Certified Asset Management Professional - Vice PresidentCertified Asset Management Pro
 
Michael Eisner's picture
Baboon ?
12y
Going Concern Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

This sounds true...I mean, just look at Katrina, she is a fifth-year associate but she's competing head-to-toe with Mike who is ostensibly only a first year associate.

lol well done

Reply
Quote
Report
Other
  • 1
LBO Model
 
brandon st randy - Certified Professional
Senior Neanderthal PE
12y
Kenny_Powers_CFA

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.
Reply
Quote
Report
Other
  • 2
Too late for second-guessing Too late to go back to sleep.
 
Bullet-Tooth Tony - Certified Professional
The Pro IB
12y
brandon st randy Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.

Interesting. Wasn't sure what to think of the "Of Counsel" title. What do you suppose a true in-house counsel makes in comparison?

Reply
Quote
Report
Other
  • 3
Authored by: Certified Investment Banking Professional - Executive DirectorCertified Investment Banking Pro
 
brandon st randy - Certified Professional
Senior Neanderthal PE
12y
Best Response
peinvestor2012 brandon st randy: Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.

Interesting. Wasn't sure what to think of the "Of Counsel" title. What do you suppose a true in-house counsel makes in comparison?

You meant in house counsels at buy side firms? That really depends on the firm AUM, performances etc. General counsels at established firms with sizable AUMs usually are compensated well, in line with law firm partners and get carries too. If the funds perform well then in house counsels can do really well on the backend from the upsides. This is unlike law firms which usually get paid hourly rates no matter what.

Reply
Quote
Report
Other
  • 4
Too late for second-guessing Too late to go back to sleep.
 
yeahright - Certified Professional
Almost Human ST
12y

Non laudantium iusto suscipit sed. Exercitationem natus impedit illo rerum veritatis et. Aut nihil animi labore a distinctio. Doloribus voluptatem itaque molestiae natus aliquam quis molestiae. Et eos sapiente et debitis consequatur consequatur id.

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)

Reply
Quote
Report
Other
Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."

Trending Content - Investment Banking Forum

View all

Career Resources

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 07 97.9%
  • Guggenheim Partners 01 97.4%
View IB Report

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%
View IB Report

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%
View IB Report

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
View IB Report
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Read more

Leaderboard

1
redever's picture
redever		 99.2
2
BankonBanking's picture
BankonBanking		 99.0
3
Secyh62's picture
Secyh62		 99.0
4
kanon's picture
kanon		 99.0
5
DrApeman's picture
DrApeman		 98.9
6
Betsy Massar's picture
Betsy Massar		 98.9
7
dosk17's picture
dosk17		 98.9
8
GameTheory's picture
GameTheory		 98.9
9
CompBanker's picture
CompBanker		 98.9
10
Jamoldo's picture
Jamoldo		 98.8
View all
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”

Read more