commerical banking compensation
-
Keywords
-
+500 | BOFA ALREADY TRYING TO COVER UP THEIR TRACKS | 64 | 22s | |
+390 | Bank of America - Juniors Strike to start Monday May 6th | 74 | 2m | |
+260 | This is a dark day for Wall Street. | 30 | 9m | |
+154 | Investment Banking US League Table YTD 2024 (FactSet) | 85 | 2h | |
+147 | Big Layoff at Barclays - 5/1/24 | 85 | 6h | |
+87 | “Americans just work harder” | 53 | 1d | |
+83 | Would comitting to ATL İB be stupid? Please give feedback. | 45 | 3d | |
+69 | Sleeping on Jefferies??? | 35 | 2s | |
+66 | A shitter's comprehensive guide to sophomore year recruiting | 7 | 1d | |
+60 | What's up with RBC nowadays? | 27 | 1s |
Career Resources
Ive heard commercial and business banking are like 50-55k at wells. Signon was apparently 5k, and bonus is like 5-10%.
These figures are just what I was told by people that work in my building
70+10 was an offer from a smaller bank no idea of FY bonus
This is accurate. I started in May 2016 and was offered 70K at one of the larger financial institutions. They gave us a 10K signing bonus. Yearly bonus is small for analysts and based on performance. First year was 2K across the board and 4K for second years.
Cries is spot on with salary and bonus. Not sure about bonus... Curious as well.
deleted
I would shift your focus towards banking and hold off getting an MBA. You only have one shot at this and it looks like you're limiting yourself. You would be much better off doing IB for 2 years and then going to a top MBA program, rather than Emory.
deleted
I just replied to your other post but it's very tough to have it both ways. It's very hard to be doing well and making good money if you've only worked 45-50 hours/week your whole career. At some point you have to be willing to put in the work and grind.
It's pretty clear that you want to stay in Atlanta. You will already have an UG from Emory. Not sure how an MBA from Emory would advance you any further considering the types of jobs you're looking at. You're better off saving a ton of money and going to Georgia State at that rate.
If you are really looking for work/life balance more so than anything (sounds like it) I would go with commercial banking. If you stay at a bank and work hard (even just during 9-5) you can make a decent living and have a great life outside work.
If you are willing to work a little more, I would go with Big 4. You have to realize though that you would be working 2-4 months of the year like a banker (80+ hours) plus 2 weeks every quarter. The advantage of Big 4 over commercial banking is that if you stick it out to partner you will make a lot of money and have a good work life balance. You are also much more likely to make better money at Big 4 as a partner than being a lifer at a commercial bank and hoping to move up the ranks.
Thanks for the replies guys I really appreciate it. I would consider Big4 as "okay" work-life balance. I do not mind working hard for 4 months out of the year and leaving work at 6-7 for the rest of the year. Its a trade-off my fiance is willing to accept for having extra money and career mobility. For this summer I actually decided to accept an internship with BDO in Atlanta. I had offers to interview with 2 of the Big 4 but decided to accept the BDO offer because I have a very good relationship with the partner and like the Emory alumni who work there? Do you think this was a good move. I'm pretty excited to work with these individuals during the summer. Of course this is not taking a job with them, just an internship to get better acquainted with the firm. If I do not like my experience I can look at Big4 (adudit/tas) of course.
Also when I mention work-life I just mean I dont want to work 100 hours a week all the time. On average ibanking is something like 12-14 hours a day which is pretty hefty. Going through busy seasons isn't bad in audit as long as it wont be 12 months of busy season.
Deserunt fugiat vel consequatur id. Et quia amet ut animi non earum sit enim. Consequatur eaque voluptas architecto rem. Placeat perferendis pariatur consequuntur assumenda tempora ut. Pariatur iusto tempore labore. Quos sed ut ipsa molestiae eum.
Nemo ad necessitatibus est eum dicta impedit quos. Ab dolorem quia est aut omnis qui. Et officiis explicabo iusto aut. Impedit rerum rerum dolor culpa aut quia autem. Aut optio aut fugiat facilis optio asperiores. Consequuntur qui distinctio illum occaecati delectus expedita et et.
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...