I wish this was a satirical question but it's not. How do you guys cope with friends in tech sometimes making 1.5-2x more and having much better work life balance/culture..it didn't bother me at first until one day it did (after all the long hours start getting to u and u start rethinking ur life choices)🥴
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at least u get free coffee, oh wait
banks have terrible perks
but u get prestige if u work at a bank
That’s not entirely true. I go to a tech school and have friends who have accepted software engineering roles at Amazon, Apple and Google. The pay is roughly around 160-170k including stock benefits that vest over 4 years compared some some EBs that pay more than 200k in good years. Obviously it’s different on an hourly basis. Another thing is that IB pay scales much more and much faster than tech roles where after two years in IB associates make 350k compared to engineers who are stuck at the same salary.
why go IB, when you can just make 400k+ in a trading role out of college, and make 7 figures within a few years
Agreed - pay scales much faster in IB, and generally there's a lot more upwards mobility that is mostly dependent on your individual performance. Granted it also comes with the increased risk of "up or out". But the bank wants to eventually promote you to MD in the long term if you can actually perform and bring in fees, as you transition from being a cost centre to a revenue generating asset. In theory there is almost unlimited room for MDs at a bank, as long as each brings in sufficient fees to justify their existence.
That's not the case in tech roles - there's plenty of room for high paying junior roles, and even senior engineer type roles that actually write the software, but promotions above that can be spotty, and depend more on internal politics or if there's room, despite how well you may perform individually. At the end of the day, they only need a handful of people leading the direction of the software team, and if there's an internal view those people are competent and they stay in that role (don't leave or aren't promoted), it'll be difficult for anyone to get promoted into that role
tell me u know nothing about tech without saying u know nothing about tech
Banking is not worth it. You'll forever feel inferior to your tech friends. Switch immediately.
Most of my friends work in tech, absolutely rethink my life every week after another 90hr grind on BS materials with bad culture. Once tech hiring is back to normal, I might just go become a SWE (cs degree). Maybe, I’ll see you on the otherside OP
it's worth it for the exit ops
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