Funniest

Associate 2

Income: ~$185K (work at a boutique with super light hours) 

Savings: Negative $5,000 because I'm addicted to drugs. 

 

Analyst at a top MM - base ($110k) is basically no savings other than maxing 401k, between rent / taxes / basic expenses / social budget there’s not much left, but I could probably be saving ~$1k a month if I rolled back lifestyle a bit (though with this job having fun when you can is essential).

The plan is to save the vast majority of my bonus, so should be coming out with ~$100k savings on the year after bonus hits

 

That’s amazing, congrats! I’ve heard the hours in Houston are worse though, but i wanted to hear your thoughts. Do A1/A2 generally average 80 hours at your firm/ any other anecdotes that you have?

 
Most Helpful

75-80 is a solid average, some weeks slower ~60, and some 100+. Still rarely work a Saturday but have been in the office past midnight on Friday's more than a handful of times. I'm at a MM and can't speak for the top dogs in Houston (EVR, Jeff, Citi etc. - but would be safe to say those guys are more consistently 80+ due to the heavy concentration of O&G deal flow they get) Overall cannot complain, WLB gets much better as an A2 once you get quicker and build up social capital. But FWIW (I'm working rn on the 4th of july lol)

 

Oh great another one of these threads to make me feel like shit

Had figures similar to being posted here last year after a year of slaving away and penny pinching and then was crushed by the markets (not index funds which will recover easy). Now I just live in the moment. Don’t give a shit any more about savings or retirement. Stopped all my 401k bullshit as well.

Boomer and gen x will come on here and wag their finger after being given a generational opportunity the last 12 years in the markets as they dump their bags on us. This generation may be screwed at this point. Fuck the savings and all this bullshit just live. Rant over

 

What do you spend 3k a month on when dinner is free and ubers back from the office are as well? Youve been spending 700 every weekend on drinks and daytrips?

 

105k base, 10k guaranteed bonus, 30-40% variable bonus expected this coming year. Variable bonus has been paid out each year minimum 30% for those eligible since firm’s inception but I budget off base only.

Rent + utilities ($28k), car insurance ($4k), food ($5k), random shit ($10k). $47k total expenses on a take home of around $86k leaves me with around $39k of savings.

Hybrid so in-office 2x/week where lunch is provided. Always enough to take home, so my food budget could be significantly lower.

Random shit includes gas, new tires, and general debauchery (just spent $800 on a standing desk).

I’ve been fortunate to perform absurdly well in the stock market since I started working - I have 3x’d+ my annual income each year since I started working except for the last 14 months, where I’ve been sitting all cash. Made around $90k on tech puts over the past 6 months which is a nice little boost, but I haven’t traded at all the past 2 months. I do not withdraw from any of my investment accounts - if I want to spend money, it has to be out of my job money.

My COL is lower than say NYC, but it’s not super cheap. I’m happy with my financial trajectory, and although I’m hoping to do an MBA which would have an all-in opportunity cost of around $600k, I’m confident it’ll be worth it. I live a pretty frugal lifestyle and have a solid emergency fund. Can’t complain

 

1) 23

2) Just got A3

3) I'll pull in $225k as of 12/31/2022 ($115k salary)

4) Max 401k ($1,625 per month), max traditional IRA ($500 per month), max HSA (still on parent's plan; $305 per month), $500 per month to brokerage- total of $2,930

5) Current savings of $10k emergency fund, $10k brokerage, $30k 401k, $15k IRAs, $10k savings towards house. Just bought a nice BMW all cash and $8k in student debt

I'm sure others have more saved out there but I feel comfortable for being 23 y/o, having a comfortable lifestyle, and not penny pinching. Plan to stay in IB for a while, so I'm not stressed on saving every dollar possible since you make so much more as an associate / VP and I'm very aware of lifestyle creep and won't let it get the best of me. 

 

1. 35

2. VP1

3. $275,000

4. Each month, I save on average $6,500 (approx. $4,000-$6,500 in cash + $1,440 in my share of the principal on a mortgage). That's 28% savings rate off of my base salary, on a gross income basis. On top of that, I pocket my entire bonus each year

5. I invest basically all my cash

Is approx. 25-30% savings of $275,000 (gross basis) too low and I should be saving more? Or is that just right?

 

Et ipsum voluptatem rerum et. Cupiditate quam earum cumque atque facere aperiam. Consequatur quo ad in rem est inventore sed. Dolore amet quos similique eius quae.

 

Ut esse delectus dolorum atque quasi unde debitis. Sunt deleniti numquam dolores alias qui doloribus quod et. At tenetur excepturi reprehenderit quia blanditiis consequatur architecto. Non facilis veritatis libero expedita eos ut ut.

Voluptatibus pariatur quia et delectus aliquam. Alias qui nihil soluta ex ad molestiae hic. Officia qui fugiat soluta dolorum quia amet. Consequuntur et quod asperiores aut numquam id. Nesciunt consequatur inventore quas blanditiis nesciunt fugiat nesciunt. Mollitia eos ratione ducimus eum quibusdam. Omnis praesentium et aperiam quas minus tenetur praesentium.

Perspiciatis debitis libero omnis voluptate qui non. Dolor vitae recusandae quis sunt esse dolor explicabo autem. Alias dolores ex est optio dolore dolore unde. Esse excepturi ratione molestiae voluptatibus id.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”