How am I doing? $$-wise v IBD monkeys
Hey all - joining this forum to satisfy my morbid curiosity.
So am a consultant (don't kick me out of this forum, pls) in Southeast Asia. I'm a 2nd-3rd year analyst-equivalent level, kind of on my way to becoming a senior consultant by next year.
Here are the deets:
Base - USD85k Bonus potential - roughly USD16k
Tax rate ~ 12%
So assuming I make roughly USD100k this year, post-tax about USD88K...how am I doing v investment bankers, say in the US and in Asia? I'm comparing v IBankers' all-in, which I guess is double their base in a good year.
Thoughts?
Here you go:
http://www.wallstreetoasis.com/page/new-2010-compensation-database
A 2nd year makes 80k base + 80k bonus, so after taxes (inc. NYC and state), around 100k. So you're not doing badly at all. No one really gets into IB to make 100k after-tax as a 24 yr old. It's all in the future earnings potential (a 40-year old banker/PE partner/HF manager makes more than a 40-year old consultant). You have much lower cost of living than a NYC banker, though, so for now, you're probably better off than your cohort.
Second years aren't getting 80k bonuses in this economy
too bad most people dont make it past 30..just 2 year of ib then two year buyside then out
Could anyone explain where most people go after four years if this is true? I'm just a bit curious.
i assume that's MBB in Singapore?
thanks @cokeaddict. great point about the exponential rise in earnings as you get older and older. I guess I just was curious at this sort of age range (say mid 20s)
tbh I don't see myself sticking in consulting till my 40s at all, hopefully run my own business one day so future earnings are not really my concern for banking v consulting :) we all know business is where it's at, even if it aint said enough on WSO!
not at an mbb in singapore, but a basically the next tier.
12% high band tax rate seems more Hong Kong-ish.
Depends on your tax bracket. I don't make enough to be taxed 15% or above :( / :)
Wait. You're not with MBB and you're still making 85k base as a 3rd-year? I'm pretty sure that Accenture and Deloitte in Singapore pay somewhere in the region of 40-60 USD for 3rd years. Place you're at pays better?
_ >_>
Tier 1 - MBB Tier 2 - OW, LEK, Monitor, Roland Berger, Booz & Co
Tier 4 - Accenture Tier 5 - E&Y :P
So yes place I'm at does pay better, but it is definitely a higher tier than Accenture.
OW pays close to that amount too, if not perhaps even tad higher
So why are you really posting this shit? You seem to have the experience to know what IB kids bring in. And there's no way you are somehow trying to show off with that comp, so what is it? Who hurt you?
"Satisfy my morbid curiosity" about sums it up. No real reason, like everyone else on this forum, just wanna know how I'm doing relative to my peers. We in consulting always feel like "shit those bankers are killing us in terms of money earned", so it's interesting to hear by how much, if even.
That is all.
Heh. Is Accenture that low down the consulting totem pole? I thought they were on the same level as D, which as far as I know is in the group right below MBB.
vanpersie, I am really curious about the firm you are at. Do you mind PMing me?
lol at this thread. "Satisfy your morbid curiosity"? Just search the threads, M&I, etc. It's easy to find. You just wanted to show people what you make.
Next up, "How big is my dick compared to you investment bankers? I have 13 inch girth and 24 inch length. Just need to satisfy my curiosity."
Uh, no. I'm using the name of an Arsenal footballer (that's soccer player to most of you) as a pseudonym and you're never gonna meet/see me, so why do I care if you know how much I make? I just wanted the bare facts as to how I'm doing. Posts like those by cokeaddict above were the sort I was hoping to get to get a sense of where I stand, that's it. Also, always interesting to compare consulting v banking salaries. Apologies if people think I'm trying to compare the size of my well endowed member with everyone else's...just a cheeky salary chat, this!
Just curious how come tax rate is 12% ..My package in south asia (INDIA) was 40k$ n tax was nearly 25%...do u know any one in Tax department
That tax rate is ridiculous. Cost of living is astronomical?
Energyanalyst: Effective tax rate for non-US-citizens is usually not too far off the 10% mark if you're in Singapore or Hong Kong, thanks to the marginal rates topping out at 20%. Little bit more complicated as a US citizen, but you still get to skip out on state taxes, so that's a plus.
Is 88K net in Singapore like 55K net in Houston?
I thought UAE is inexpensive. Definitely cheaper than Calgary. Houston is cheaper than both.
Yeah, Calgary is expesnive...Also. I find pays are higher in US in oil and gas industry as compare to Calgary.
Facilis earum ipsum eaque omnis. Quaerat velit consectetur ex aut porro perspiciatis recusandae. Exercitationem dolor earum quia quas eum tenetur ullam. Consequatur nulla omnis non aut. Ea voluptatem corporis repellendus magnam vel eligendi quo voluptas. Praesentium velit nam pariatur ut placeat enim iusto quis.
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...
Illo eos cupiditate ut sit laborum earum maiores. Tenetur nam et tempora unde aut et maiores. Ut dolorem sint rem ut voluptatem. Non voluptate asperiores aut ut ipsa. Ipsam saepe et qui quia molestiae in voluptatum temporibus. Sapiente ut rerum rem dicta nemo repellat qui labore.
Explicabo non ipsa et et aut quo numquam. Voluptas praesentium nemo inventore reiciendis.
Et distinctio totam molestiae et. Omnis nihil laudantium architecto a. Laudantium ex sunt repellendus non quos.