Investment Banking salaries are a scam
All of the salary information you see on the internet is fake or selection bias. Ibanking vps make like 200k all in and not 600k or whatever the internet says they do. You are better off getting literally any other job because you end up making a normal upper middle class salary doing something people only get into because their programming skills are limited to vbscript and excel.
25k all in drive thru worka.
Care to give factual evidence not just** bullshit**?
Forbes sites/kenrapoza/2013/03/13/how-much-do-wall-streeters-really-earn/amp/
> Hedge fund Vice President: $150,400 (+$121,300)
>IB makes less
Be careful what you are saying because Forbes a) can't have that accurate data due to the natural of the companies being private and do not reveal compensation packages easily (they even admit they had only 200 respondents) b) AI top management compensation is based on their equity ownership in the firm (so when times are good they are killing it and not doing so hot in bad times)
WSO database Morgan Stanley
Vice president 160k
That is just flat wrong as I know a Macquarie VP makes 200k+ just depends on the bonus to what the end number is.
Just curious what is your career field since you are saying IB salaries are a scam?
for wealth management.
I don't get what the scam is
GreenspanAndHam Mr. Vice President here can answer this question.
Bankers at the VP level (within IBD) at my firm made somewhere in the ballpark of $250k base as of last year. Bonus ranges depended largely upon what group you were in. My all in comp for this year should be just shy of $500k since our group has been closing like fucking Wade Davis. All of this depends heavily on firm, location, group, title, and experience so it can change somewhat drastically from one person to the next.
Jesus christ
.
(Hat tip) Keep slaying it, Sir!
VPS at my bank make around $400k in total comp and MDs make easily over $1m
It also depends on how senior you are, e.g. a junior VP would be on around $300k where as a senior VP would be reaching the $500k mark
it's fake money bro
Any average first year VP at any BB / EB / top MM makes at the very least just under 400k all-in
Jesus, that seems low. All in comp for first year associates at EB's is close to that
Everyone knows that base salary numbers are meaningless in this industry.
Still confused where the scam is after all the input?
Guess like someone couldn't get the return offer.
> Any average first year VP at any BB / EB / top MM makes at the very least just under 400k all-in
Because you've worked at every bank ever
> Bankers at the VP level (within IBD) at my firm made somewhere in the ballpark of $250k base as of last year.
One freakish anomaly decides to brag about their salary
> It also depends on how senior you are, e.g. a junior VP would be on around $300k where as a senior VP would be reaching the $500k mark
That's more and more being vested over several years, by which time the stock has tanked and the remaining bonus amount is clawed back.
Paper salary != what you actually get paid.
Whats the scam though, vesting bonuses is how a lot of public companies pay bonuses. Also what BB bank's stock has tanked in the past 8 and half years? Now are you going to say public companies C-suite salary is a scam too? Not sure what you are trying to point out here, are you salty that you did not get into investment banking?
Deutsche Bank Wells Fargo HSBC Etc
If paper salary =/= what you get in direct deposit then every legit job is a scam due to something called income taxes
It takes years or sometimes decades for the results of your tax dollars to benefit you. Taxes are a scam too apparently.
I can see that you are bitterly jealous, but you realize A3s at BB/EB/Top MMs make $200K in just base salary alone right, not even considering cash portion of the bonus? Therefore, VPs start at $225K-$250K in salary. Mid-level bankers aren't going to get a majority of their bonus in stock either.
There isn't a mystery or debate. That's readily available information from any recruiter or HR person.
.
The stock is a "scam" only if/when you want to quit. But anecdotally, a lot of people who want to quit just ask their group head to include them in the next round of layoffs (because there's always a next round), in which case they keep the stock. It still has to vest, but who cares?
Funny how someone finds random information on the internet and tries to claim everything they've heard from people who are actually in the industry is a lie.
Yea u're right, the MDs i know w houses in the hamptons paid for them with their fake money
Is it just me or has there been a huge influx of trolls on WSO lately? This guy can't be serious..
It's either that, or one dude with 15-20 troll accounts. Either way, yup.
1/3 rd of Goldman Sachs 34000 employees are VP. Goldman Sachs spent 14b last year on sg&a. Assume 10b is left after executives. That's 300k per employee or a 200k comp.
Its mathematically impossible for bankers to not make pathetic salaries.
How's being an abject retard treating you in life, buddy?
Haha yeah GS has 1 division. Brain dead logic.
$300k all=in ($200k base, $100k bonus in bad group and with bad reviews) would be the min for any VP.
rehn de bhai chutiya na kate
You must have worked at Nomura
The dude just smoked to much crack that is all.
US BB: second year IBD VP in London - around £300k total comp, which is around $400k.
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