How much money do you make?
We all know a career in financial services makes some real fucking money. So how much do you make and in what way did your career change your life(if at all)?
Firm type: BB/EB/MF Industry: IB/PE/HF Title/Position: MD/ED/VP/AS/A Compensation: $XXX Savings: $XXX Assets: $XXX
Also curious to know if it was worth it spending a good portion of your life as a monkey in a sweat shop? And if your peers or people in general have a specific perspective of you (e.g. show you more respect for what you do as a career)?If you left the industry and felt all this money wasn't worth it, would also like to hear your input.
Not going into specifics but 2nd year quant options analyst 214k base. 70 hours week max, currently remote til 2022. Bonus for past year was ~70% base pay.
1st year analyst at small boutique sweatshop.
60k base
5k bonus
I have like 50k of student loans and 6k in my bank account since my rent is more than half my income.
Overworked and underpaid but Im just happy to have a job
bruh get the hell out
5k bonus is straight disrespectful, especially if it's a sweatshop like you said
There's a huge amount of data/threads out there about how much people make in IB at different levels and banks, so I won't be specific other than to say that in the last few years I've been in the fortunate position of being at the very top of the comp ranges you might be aware of. VP3 at an EB, much less savings and assets than I really ought to have at this point because I have been living quite well and am dumb at investing. 100% worth the analyst/associate sweat if you can make it to VP, provided you're at a shop/in a team like I am where VP and above is not sweaty. If VP and above was still sweaty I think I would have burned out by now. But if it's not sweaty then it's just a super interesting job that pays great.
I don't think my peers have any elevated opinion of me, it's still not "no mortgage" money. Just a good job :)
Probably 45 hours a week on average over the course of a given year. I have periods where my projects are all humming along nicely and I'm doing a few hours a day living the absolute dream. Other periods where I'm working until 9 or 10 every weeknight for a couple of weeks in a row. A more standard day would be 6-8 hours, but spread over 10-12 hours with gaps in between. And then very very rarely doing midnight or later... can't even remember the last time I worked until midnight, months ago at least
Helps to have very strong Associates and very reasonable, confident, 80/20 type MDs though which I realize is pretty rare
IB analyst : year 1
Base: 40k
Bonus: -10k
They told me they’d actually take part of my salary as my bonus bro, that’s just how hungry I was to get in though bro.
Kill or be killed man
Where tf are you
Sounds like Tobin & Co.
are those figures in ounces of gold
Firm type: BB
Industry: S&T
Title/Position: VP, 28Y
Compensation: $450k last year
Net Worth: ~$1 mio
My net worth probably 3x last year from PA + good comp. I'm actually also a home owner. TBH looking to leave industry very soon. I think you need to be aggressive with your PA with your bonuses once you hit that 2nd year analyst/associate level. ~45 hours a week at this point in my career. Was closer to ~60 hours when I was an analyst, and just incremently got better and better.
Firm type: small cap
Industry: /HF
Title/Position: A
Compensation: $300k
Savings/Assets: $500k
Age: mid to late 20s
anal1 at a bulgie;
2020 all in was ~145k usd
base got bumped by 15k for anal1, ass1 got bumped by 20k
It’s actually sad how many of us clear 250-300 and don’t have a large savings.
Let’s be better, but Ngl I just bought a sick AP so I’m a horrible example.
Firm type: BB
Industry: Quant/S&T/In-business risk
Title/Position: VP2
Compensation: $175 + $125 (75% cash) last year as VP1, $200 base currently
Savings: (Incluiding wife) ~$100k cash, $1.1mm PAs, $400k 401ks
Never really was a monkey in a sweat shop, probably topped out ~52.5 hrs/wk as an Analyst 1 and down from there. Currently work 8-5 basically, 3 days/wk from home, will be 2 days/wk starting in the new year. No idea of perception of people in general but I think that most people I know outside of finance have no idea how much I make and would be shocked if they found out.
You're gonna get some insanely skewed data from this thread - only the big ballers will be eager to share their total comp.
I'm 14 and made $4.69 mil last week trading NFTs of toadz.
JK I wish,
Im an ASO2 in ER at a BB
Base: 145k
Bonus: ~40k
Assets: ~360k (80% equities, 20% alts)
Cash/Savings: ~2k (I like to live paycheck to paycheck for the thrill)
BB type bank
VP
All in 500k
Hours not bad since I have competent juniors and anti-facetime seniors
401k close to 750k
Cash close to 200k
Apartment and one investment property.
To be fair, I didn't have loser parents so I was able to go to an Ivy with no debt ruining my start.
EDIT: triggered the people whose parents didn’t save and live below their means I guess. Such is the snowflake / cancel culture we live in.
What a crap comment to throw in at the end. I’m very thankful for my “loser” parents, I learned a lot from them.
I hope that is just a trolling joke and not representative of your attitude. If it is, you really need to grow up a bit.
Oh yeah cuz all people who don’t clear 500k a year are losers… sounds like your Ivy League education didn’t enlighten you much.
I said parents not me. If you don’t live below your means and help your kids, you’re selfish and a loser in my eyes.
If you can’t help your kid pay for college or guide them to a college that’s reasonably priced, you’re a failure as a parent.
But I see parents all the time, but themselves fancy things while their kids 529 plan stays unfunded. I know I come off harsh and people get triggered when someone denigrates their folks, but truth hurts snowflake.
Age: 33
Firm type: EB
Industry: IB
Title/Position: VP3
Compensation: $1mm 2020 (VP2);$1mm+ 2021
Net Worth: $3.5mm
people on this sub don’t appreciate how quickly you can create personal value if you make direct impact at an EB
Age: 34
Type: Former MM coverage associate
Industry: Banking
Compensation: Would have been around 350K all in if I stayed for bonus cycle
Net worth: $4MM liquid, basically all in my brokerage
Story: Saw an opportunity after the crash and took a lot of risk in the market last year. Was very lucky and made out like an absolute bandit. Currently debating life next steps -- if I want to do another finance job, different industry or just grow my PA. Currently selling options for ~0.5% a week. Been chilling most of the year.