How common is it and how long does it take for your average banker? I also ask the same question with other fields such as PE or HF.
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I would wait for the interns to chip in
very common, I made 7 figures as an intern(top BB in Zimbabwe - think GS/MS/UBS)
think you missed the joke buddy
I think this is the hardest I've laughed all week--thanks for this
Could rank all banks in Zimbabwe - prestige wise? Would be very helpful to know. Tks.
Rumor has it that Justine Tobin cracked 7 figures the day she was born.
7 figure salaries are pretty usual for the likes of John Pierpont Morgan
Just as likely as the chances of me losing my virginity.
Joke is on you. Virginity lost to Paulo Dybala
Exactly 14.7% of bankers make 7 figures. No more, no less.
More curious what the stat is if you don't count junior bankers though.
Realistically, most MDs that are closing deals consistently at reputable banks will be clearing 7 figures.
Apparently Jefferies associates make 7 figs
Yes but what you don’t understand is they CORNERED the MARKET and printed 2 DEALS PER WEEK and literally pissed OIL out of their DICKS for that bonus!
I mean one of their analysts literally killed a guy so makes sense
John Jefferies the founder of Jefferies was, in fact, the first human to ever merge two energy companies
lmao I just finished reading this
Can someone eplain this to me, read that Jeff associates in Houston made a mil bonus / hours a insane there but not sure if it's a pun or actually true. Thanks haha
Oh it’s most definitely not a pun.
Safe assumption that most IB MDs at BB/EB are clearing seven figures around the $1-$3m mark. In the UK, the mandated releases of "risk taker" compensation by banks show basically 70% are within the £1m-£1.5m band.
Most MDs in Banking/S&T and Partners at reputable private capital firms are probably in 7 fig territory every year.
PMs of sizeable ($250-300M+) pods and their top analysts (with P&L linkage) at multi-managers (if they're performing) also are.
Partners and Analysts (senior, with P&L linkage) in large single managers are (if the fund is performing above high water mark)
PMs (with a fund universe that has considerable AUM) at major AM firms probably are
Top tier (i.e. II ranked) sellside analysts are
Saw a post on here a while a go about EB pay for MDs. They can negotiate 30%-40% of their success fees. One guy said a MD at his shop made $20M because of the contract he negotiated.
Become the next Michael Milken and profit
90% of MD's will clear 7 figures in a year. Average is anywhere from 1 - 3m. Rainmakers probably 10m+.
Source: I used to sit on the floor across from business analysts who did comp at a MM and I got a peek once. Yes, there are people who are paid $10m+ cash. But that's essentially 1 in every 100 MDs.
This is correct. On an all-in basis, if you're regularly under a million as an MD (assuming you're not in your first year or so in the role), you're probably getting laid off. The median for BB/UMM is probably between ~$1.5-$2.0. Top 10% for BB/UMM is probably >$3.0. EBs have direct drive so while the median might be not that much higher than BB, they have outliers making low 8 figures some years.
Can you explain what you mean by "direct drive" at the EBs?
I'm guessing it's the eat what you kill model. If you're MD on a deal that closes, you get a set percentage of that.
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