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Depends on what you mean by "save" are we talking in straight cash? or a combination of personal investments etc.
Combo of investments and cash
First-year (Base + Bonus): $70K investments + $20K 401K
I don’t really live frugally but I definitely make sure every time I spend money, I actually enjoy whatever the money is being spent on which helps limit my expenses.
impressive but how did you do that? Assuming $180k on high end - is $126k after tax, you only spend $46k the year (doable in LCOL)?
Yeah basically - Rent is around ~$2K a month. And then my expenses are around $1,000 a month tops (eating out / having fun). I meal prep all my meals except dinner which my bank pays for and I’m always under the stipend so the $1,000 goes a long way for me. Occasionally will travel which will bring expenses to $2K a month but still more than enough to save.
Also have gotten good return on my investments. Heavy in tech and leveraged etfs.
2nd year analyst going to be analyst 3 in about a month (have not received bonus yet), been working about 3.5 years
have about ~250k. About 200k in taxable investments (index funds, CDs, etc), 10k cash, 40k retirement accounts. I save pretty aggressively
Confused how that’s possible unless you had money coming in or are working at like CVP
Had to have money coming in or hit big on an investment.. if you assume 200k each year and 33% tax rate (rough numbers), that’s only 270k total post-tax .. and that’s before rent, food, etc.
as I mentioned, have been working for 3.5 years (was previously a lateral), so that's not really all that unheard of - a lot of the increase in value was in the last few months when all the equity indexes recovered pretty well from a shit time in 2022 in which I dollar-cost averaged
Did you have money coming in? I’m in the same boat as other commenters, good for you but that seems in possible especially if living in HCOL. I’m an an2 almost an3 and I have 100k in total savings which I thought was decent.
Damn this thread makes me feel poor. An2 and I have about 10k liquid and 10k illiquid. Didn't receive a bonus for my first year due to a layoff. Still feeling the pain from being out of it for a few months even though my comp is higher.
Budgeting a lot more strictly now to build up another rainy day fund.
Yea there is no way these numbers are the norm. My analyst class is not anywhere near these guys, sure there are outliers that are similar but nothing too crazy. I’m an an2 and I have about 50k total liquid + invested.
Yeah some crazy numbers out there. I know a few guys who have been living at home, expensing every meal and ordering water for free at bars. You could save a ton of money doing that but what a way to live …
End of A2, saved just under 300k. Good comp, saved 30K+ per year off base bc LCOL city and full bonuses + good investment returns
Just under 500k after 3.5 year analyst program
Can smell the cap
Math not making sense
An2 (still haven't gotten the bonus yet which will be at the end of next month) I owe about 25k in student loans so I've been focused on paying that off. If I didn't have that im sure these numbers could easily be 5-7k higher but ehh what can you do.
Cash: 10k
Personal investment accounts: 30k
401k 35K
1.5 years in M&A IB, 6 months in growth equity (now)
$15K liquid cash
$50K Marcus / High Yield
$25K brokerage
$35K 401K
$20K somewhat liquid valuables (watches, jewelery, etc)
Just finished first year
Cash- 25k
Investments (non 401k)- 39k (rode TQQQ)
401K - 18k
Had 2k after graduating in May 2022.
*20k student loans as a liability
Lol how? What’s your rent and avg spend per month, this is insane savings pre bonus
He had to have savings before starting… since assuming 110k base his savings is greater than his net after taxes lol.
Do most banks do a 401k match for full time? If so, up to what %?
Yes, I think it's common to do up to a 6% match of your base salary. ie. If your base is 100k they would match 6k if you put in 6k then the rest is on you for the year.
Just finished first year, pre bonus An1
$25k brokerage
$15k 401k
$12k HYSA
$11k Roth IRA
$7k checking
~$70k total
Started last summer with ~$10k saved. Pretty happy about savings, pretty sad about the bonus I’m getting.
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