IB Comp in India?
Does anyone have any detail on compensation in India offices for IB groups and how it compares to US comp, on base and bonus?
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For large int'l sized firms, wouldn't pay be similar to what you get in the US if you moved internally there from NY for example?
Wrong! One banana costs around 5-6cents in India.
Bump
Not sure about IBD but I’ve heard from recruiters that some MFs do comp you equivalent to your US counterparts
India is back office
My bank actually has an India IB coverage team and I see some of the deals they do sometimes get announced. No idea re comp.
Not anymore the amount of growth and capital inflow is crazy. Also a very strong ecosystem because so many have been in the US and the tech/healthcare sector is very strong. I think MFs have a strong presence there and a lot of local banks have emerged
Nah, lots of back office presence there but there's a large front office scene there too.
Comp at Assoc level (post-MBA, some firms also classify post-MBAs as analysts) ranges by type of firm -
Global BBs (JP/MS/Citi) - 50-55L INR base (60-70K USD) + ~ 80-100% bonus
Global EBs (Rothschild/Moelis) - ~40L base (~50K USD) + ~80-100% bonus
Domestic BBs and EBs (Kotak/Avendus/Arpwood) - 25-30L base (30-40K USD) + 100% bonus (specific EB groups can have significantly higher bonuses)
Note - Most domestic BBs tend to pay on the lower side
I feel like that’s a ton of money. If you make $100-$150k all in as an ASO1 in India, that has to be a way better lifestyle than $300k in NYC right?
For sure
Damn maybe I should move back to India..
I felt like a king with only 1k in India lol if I made that much there I would never leave
150k a year can buy you a full staff (cook, driver, house cleaner, etc)
you can also eat out and be pretty willy nilly buying things like food and trips
A few family friends of mine live in Kolkata, and their bills only come to around $800/month (have cooks/cleaners/drivers/all-AC flats). Kolkata is a pretty cheap city, though. Another set of the family lives across the border in Dhaka, and their monthly living expenses come to around $1.2k a month because the CoL is higher but they are also "new money" and overspend a ton. Know a few group heads of international conglomerates making $500k. Now that would be the ultimate exit.
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Currently in US in IB at a top group but grew up in Mumbai and I can second that just that base alone (50 lacs per year) and you'll live like a king. Would be a dream move for me to go back home and work in IB there given how much further the money goes.
However the bottleneck is that the top firms mainly only hire from the top 3 IIMs (Ahmedabad, Bangalore, Calcutta). Each of these 3 IIMs take about 400-odd students each from a total set of ~330,000 applicants. At each of these, only the top 10-15 students usually get front-office IB at a BB or a top local boutique. So essentially 0.009-0.015% chance of breaking into IB. Additionally, most of these guys start out as analysts even though they are post-MBAs.
People think I came to the US because the education is better here but in reality I came here because I would never be able to break into IB in India through the traditional route lol. The best way for me would be to lateral to India from US-based group post VP or Director.
doesn't something similar happen in China where parents send their kids to finish highschool overseas so they don't have to take the gaokao (yr12 highschool final exam)
This is exactly me but I'm 2-3 years younger. Would love to connect - could you dm me/allow me to dm?
Hey there, first of all thank you for your answer. I am currently pursuing my bachelors from Bangalore and I was looking forward to do mba from top b schools which you have mentioned. the reason is the same thing that you have said(to break into front office IB). 8-10 years from now I really want to be working at top PE fund and for that I am dreaming of getting into IB. so if it is that hard in india, which route would you recommend? please help me out here and give advice.
Do not redeem!…
Am related to a woman who was a director at a bb in Mumbai, has a net worth (just hers, not her family's) that is comfortably over 5 million USD. Out of a job right now but makes $300k+ in passive income per year. More than you could possibly need in India. Kids study abroad, never needs to worry about money.
She told me she was very underpaid compared with her male peers.
Did she willingly quit her job or was forced to quit as I heard banks make people forcefully resign after 50 .
She moved on to an indian company and then left. They don't force you to resign, although they do just churn people out a lot once they're older at least where I'm from (especially if you're a woman)
Whats it like to make over 300k/annum in india?
$300k/annum in India will put you in the top 0.1%. You are looking at being able to afford, a villa in the city high-street, a work force of cooks/cleaners/chauffeurs, prolly drive the likes of a Merc GLS. All of this very comfortably while saving a good chunk.
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