MD vs Department Head
I know this may sound like a really stupid question to some of you, but I was wondering what the difference between a md and a department head is. What is the salary difference? Which one takes longer to become? Thanks a lot.
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Career Resources
Department Head >> MD
www.ibankingoasis.com/node/141
This thread breaks down the salary difference between regular MD and Department Head.
thanks a lot gqbanker15..do u know how long it usually takes to become a md? department head? i know many ibankers will not reach this level, but I was just wondering. Thanks in advance.
I'm not exactly sure how long it takes. There is usually only one (two co-heads in some cases). I assume you have to be a stellar MD bringing in a shitload of revenue for the bank.
Thanks a lot. I was just wondering because there is a huge difference in salary between the md and department head!
why is there such a big difference in salary between the two?
anaylst 120
assoc 400
A to a: 30%
md 3mm head 15mm
m to head: 20%
Dont be an idiot.
From my experience, group heads are not making $15mm/yr.
Isn't the group head the highest level in an IB (short of corporate officers like Head of IBD, etc.)?
If even group heads are not making $15mm, then there is a huge gap between what the top traders at a bank make, and what the top bankers make..
Are there MDs in a group that make more than their group heads?
The heads of the A-list groups on the street probably come close (i.e., the top 10 or so bankers at GS, LEH, ML, CS) and the top bankers at Blackstone, Evercore, Lazard are
Nobody else.
I have no idea what my MDs or Group Head makes.
Wow, that's surprising. For some reason, I was under the wrong impression and thought group heads made insane amounts of money..
What would an average MD at an NYC BB (or top boutique) make? Is the income range (low-high) for an IBD MD pretty close together?
No, the disparity between top quartile and bottom quartile gets larger as you get higher on the ladder.
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