How do ibanks get away paying college grads in Ops less than 40k/yr?

Jesus, I know they dont produce revenue but wtf thats a hell of a lot less than the national average for accounting/finance majors (around 46/47k) a year. I mean they do work a good 50 hour a week. Damn.

 

Few people I know who started in ops were making anywhere from 50K - 60K. If you're coming straight from campus recruiting, tack on an additional 4-8K in signing bonus, and year end bonus was anywhere from 10k-15K.

 
sleepyguyb:
thats a hell of a lot less than the national average for accounting/finance majors (around 46/47k) a year.

Dude, operations is not finance or accounting. You don't need to know about finance to work in ops. There are high school dropouts in operations.

 
zala rules:
sleepyguyb:
thats a hell of a lot less than the national average for accounting/finance majors (around 46/47k) a year.

Dude, operations is not finance or accounting. You don't need to know about finance to work in ops. There are high school dropouts in operations.

I worked in IB OPS my sophomore summer and that is definitely true. High school educations are at a premium.

 
sleepyguyb:
Jesus, I know they dont produce revenue but wtf thats a hell of a lot less than the national average for accounting/finance majors (around 46/47k) a year. I mean they do work a good 50 hour a week. Damn.

At my university operations major are right in the 46k-47k range. They are paid fairly well. My advice would be either work for a different bank or look at a different industry.

 

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