Is 84K TOTAL COMP at LMM Shop still IB?
Hello fellow monkeys. To introduce myself & give background, I currently work in IB as an Associate at a LMM firm doing ECM. I grew up in the rural northeast, and always knew I wanted to work in finance, specifically IB, and worked hard in HS to get into a good college. Ultimately, I went to a Florida college in part due to a decent scholarship. While it doesn’t sound the most prestigious (something I personally don’t care about), most kids I went to HS with went to local state colleges (nothing wrong with that but would make my dream of IB way harder), so I am very proud of my college (think UF/UMiami/FSU). When I started college, I wouldn’t even go out as I was so focus on my IB grind, knowing it would be a battle. During my sophomore year, I was able to land an internship at a local IB firm in FL, and I loved it. It was everything I dreamed of, as again, who cares about prestige, it’s still IB (as long is it’s not Big4, am I right). So here is the kicker in my situation, that I am sure I am not the only one to ever experience this, although I do feel somewhat alone here: I got an offer to be an IB analyst at the firm & work during college, which would help me financially & I thought would help me career wise. So, that’s what I did. With hard work & a little bit of luck, I was promoted to associate right after I graduated college. To let you know, before I graduated, I started to go out more in my free time (the extremely little that I had) & loved my last few years of college. But with all my friends graduating, I am starting to question my career moves. By ignoring prestige for so long, I am worried that I am stuck. I am at a NO NAME LOWER middle market shop that has literally zero deal flow now. It’s been a long time since our last deal, and I have virtually no live deal experience. I mainly just try to originate all day & manage a band of idoit interns we grab from the local universities (just like me, but dumber). What worries me is my minimal deal experience at a no name LLM shop & being a non-target college student would mean I would have almost no luck in recruiting elsewhere. To top it off, I am only making $84,000 a year right now & worried about not having a bonus. Now, I am left with this dilemma: is my dream of IB dead? Is my current role even IB at all? What should I do?
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