Wall Street bankers struggling to get by on $350k a year
http://www.dailymail.co.uk/news/article-2108477/W…
Wow. Really?
Trending Content - Investment Banking Forum
| +268 | UBS Layoffs (October 2026) | 80 | 11m |
| +120 | Do people still want to go PE? | 36 | 7h |
| +96 | UBS Tech layoff | 31 | 4h |
| +36 | Lazard hirevue | 11 | 1d |
| +36 | What Differentiates the Best Analysts as AI Improves? | 9 | 1d |
| +31 | How do YOU manage networking requests? | 6 | 49m |
| +28 | Quitting After First 4 months | 10 | 1d |
| +25 | Cornell Club T10 Rankings (UPDATED 10/2026) | 16 | 3h |
| +22 | MBB Pay Raises | 10 | 3h |
| +19 | Are target prospects getting dumber? | 11 | 4h |
Career Resources
Thats what happens when you live in a city with a ~48% effective tax rate, astronomical cost of living and poop out babies.
That guy ain't no banker. He's a salesman. Typical journalism
Dudes brother is skimping him huh
he's a grown man... he should be making a mil, minimum.
When you only take home half of that it doesn't go very far with the cost of living in the city.
Taxes should take into living cost..
If you're saying that taxes account for cost of living (in some weird form of broken english), then you're wrong. It's a separate issue. After you lose half of your gross income, you then have a high cost of living to afford, such as high rent. They don't have anything to do with one another.
This guy is a retard. $350K is damn plenty to live in NYC if you don't crap out a tribe of kids and have a stay at home wife. Let this be a lesson to all of you who want to live in NY and have a family.
Also, gotta love how half his rightful earnings go to taxes. Nothing like a strong disincentive to motivate someone to move. Honestly, NYC with a family and kids is miserable.
ANT, do you plan on living in Philly permanently? If not, where else are you interested in living?
Also, this is a reason why taxes need reforming. A max tax rate of 35% is absurd, not counting costs of entitlements. Why not do what a cpl of economists recommend and impose a national sales tax and virtually phase out the income tax? The income tax destroys people's standard of living and serves to provide "jobs" to loads of people at the IRS who are really glorified processors who operate without any constitutional authority. Google Sherry Jackson, former IRS agent who resigned from the IRS when she discovered that there is NO LAW requiring anyone to pay the income tax.
Naa, Philly is fine short term, but I would like to move around. I think NYC is perfectly fine with no debt and making 130-150 a year, if not less depending on how you live and what you like to do.
I think Chicago would be nice for a couple years, maybe down south. I am indifferent.
If you're thinking of the South, seriously consider Atlanta. Atlanta has Buckhead, a very nice, upscale area popular with ppl in Finance. In that area, you have two upscale shopping malls, Lenox and Phipps Plaza. Buckhead Life restaurants including Chops, NY Prime and Atlanta Fish Market are nice. The women are hot and upscale. The apartments/condos are relatively cheap compared to up north. I toured a highrise apt bldg in Buckhead called 05. See them at http://www.05buckhead.com. Concierge desk, high security etc. for a 1500/one bedroom. Plus, you're 10 minutes away from midtown. Dozens of restaurants, lounges, clubs, the Aquarium, Piedmont Park, Centennial Park. Many apts. in buckhead are cheaper than that.
Corporis aliquam voluptatem fugiat maxime delectus. Nulla dolorem voluptatem dolor explicabo ratione sunt. Atque magni laboriosam et unde.
At tempore animi veniam perferendis dolore facere. Aliquid odit quo dolores enim non cumque cupiditate. Voluptatibus ex nisi perspiciatis rerum perspiciatis et at. Veritatis consectetur asperiores sit et iusto. Possimus sed quis accusamus voluptatem quo repudiandae repellat rerum. Tenetur non labore repellendus reiciendis est ipsum.
Deleniti dignissimos et neque. Ut illo ea perspiciatis laudantium eaque deleniti nobis non. Officiis veniam similique eligendi dolorem veniam. Qui dicta odit voluptatem modi exercitationem. Doloremque consectetur beatae eos vitae corporis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...