Incoming analyst & deciding what I should spend some of my signing bonus on. What did you guys use the bonus on? (excluding rent / moving expenses / etc)
Would like to reward myself with something but not entirely sure what yet.
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Invest it
One touch executive stapler. Has the capacity for 30 sheets. Only the most prestigious investment banks use these. Here's a link
https://www.staples.com/Staples-One-Touch-Alloy-Plus-Executive-Metal-Fl…
100% this. But make sure you don’t go cheap on the staples, or you might find yourself in a jam when the deliverable is needed most. The TRU RED standard staples generally get the job done, but I’d recommend the Swingline Optima Premium staples. They come in a nice durable tin box and have chisel points that slice through a 20 stack like butter. https://www.staples.com/Swingline-Optima-Premium-Staples-1-4/product_75…
Theres only one proper answer:
Blackjack and hookers.
SPY and QQQ
If you are hardcore then TQQQ
It’s gotta be FNGD
Put it in a high yield savings account so that when you burn out after 6 months you won't have to reach out of pocket to return the signing bonus.
It'll help but not if the bank makes you return it on a pre-tax basis
Usually only if you cross tax years
Hello Jefferies analyst
Invest in your future
Cocaine & Hookers
Voo
Custom made suit ($1,000) and nice headphones. I'd hold off on the suit until after WFH is over though.
Congrats on the job. Here's a list of "staples" I'd recommend, using the term "Staple" a bit broadly...
A dope home office setup if you don't already have one - large, high quality monitors, good keyboard and mouse, and most importantly a quality chair (Herman Miller is the GOAT IMO - typing this from my Aeron which I can sit in for 16 hrs straight with no discomfort). If you're a gamer, build a PC or buy a TV+Console. Or don't, we don't really have time for it - I make time for gaming via Revenge Bedtime Procrastination which is unfortunately punishing me today
Less important during WFH but a quality suit/shirt/tie/shoe combo. It's good to have something that's a cut above (ha ha) the rest of your daily drivers for that special event or meeting. I know we don't really wear suits besides tracksuits these days but when the world returns to normal you'll thank yourself if you have a great suit you can put on. You don't need to go big on some crazy Brioni shit with Ferragamo loafers (in fact, DON'T do this, period), it could easily just be SuitSupply (I love SS, no shame. chirp me all you want), just make sure its tailored well. I get more compliments on my suitsupply stuff than on anything else
Decor/furnishings for your apartment if you haven't optimized your space. In this industry its important to have your apartment/home be as comfortable as possible. For me this means wall art, lush house plants, rugs, in addition to the usual furniture items
Quality mattress/sheets/pillows. It goes without saying that you need to have your sleeping arrangements as dialed as possible in this industry. There's some saying that goes something like "Spend more for quality on the things that separate you from the ground - Tires, shoes, bed, chairs". No clue if I butchered that or if its even a saying, but it makes sense. Cheap out on any of those and sooner or later you'll come to regret it
If you're a coffee drinker, get yourself a good coffee setup. This could be a $3,000 Lelit Bianca espresso machine or it could be a $50 grinder and a french press. Get something that you look forward to in the mornings. I have a simple grinder and french press that gets the job done for me but damn if I wouldn't love to make americanos every morning instead
If you're a cook, buy some quality cookware. I like Miyabi chef knives, Boos cutting blocks, All Clad pots and pans, Lodge cast iron and Le Creuset enamelware. If you're not a cook consider becoming one - subscribing a meal-prep delivery service is a good place to start. Cooking is therapeutic for me, and I will carve out time to do it. Understand that that's not always something thats possible for junior finance folks though
I'm a huge fan of music so I would also say it's worth getting speakers/soundsystems/vinyl etc. - this applies to any interest you have though. Treat yourself on the things that make you feel good at the end of a long day. I've been lusting after a Wrensilva cabinet for a while and might use a slice of my upcoming bonus for it...
I bought a truck with bonus funds once. Yea, a truck - for offroading/overlanding. I rarely have time to use it but its fun as hell and I have no regrets.
Gonna stop this list here because I'm rambling as usual and it's now becoming quite identifying. Last one is a boring one: stuff like paying down debt (hugely important overall, but remember to consider the opportunity costs associated with doing so if your debt burden is manageable - don't use all your disposable income to pay down low-cost debt when the market could return multiples of that APR) and building your PA. I would argue that you should first focus on getting your physical surroundings dialed in before you start plowing money into your personal financial goals, but go with whatever gives you more utility.
(+) 1 for spending the money on a good chair. Spent the first four months WFH using the office max chair I used in business school. Upgrading to a Steelcase Gesture was game changing - so worth the money when your ass is potentially sitting there for 20+ hours.
+1 for the revenge bedtime procrastination. I find myself doing the same every night.
+1 for the revenge bedtime procrastination. I find myself doing the same every night
+1 for the revenge bedtime procrastination. I find myself doing the same every night.
+1 on quality cookware - have bought to my mom with the summer analyst salary a large Mauviel pan and copper roasting tray - real life changer; simply roasting carrots and leeks with a drizzle of olive oil has become delightful. Roasted chicken on Friday night/weekend lunch too. Plus the equipment design is just so pleasant to the eyes. Bought her a nice Staub dutch oven also.
This is great. To add- if there's something that you've been eyeing forever but couldn't afford such as an Omega speedy or entry level Rolex, you could splurge on that. I would say to make sure you have the decent suit and decent mattress taken care of though before considering this. So maybe wait for your first bonus for the watch idk
Wait until first year bonus on watch, IMO
I waited till my fifth year lol
make it your "Lunch fund" if you don't have ideas. Nothing beats a shitty day at work like a $40 sandwich.
What sandwich was this?
Really just walk into any Jewish/Eastern European deli and just say "give me the most expensive sandwich you have" There was one that sold Iberian ham for $40.
I went to Birdsong and bought michelin star 2 fried chicken sandwiches. ($20 each)
Honestly dude assuming you go back to the office:
Get a bunch of whatever your choice underwear is, undershirts, socks, and CT or whatever dress shirts the kids are wearing these days because doing laundry regularly will be near impossible. Also cannot recommend a standing steam iron enough.
Second the coffee prep suggestion. You will be dying for caffeine and if you're drinking morning, lunchtime, and evening coffee which is doable in the shit stretches, you will bleed analyst salary if you're getting it from a coffee shop (I'm saying knock out the morning brews with the home setup, get lunchtime and evening coffees with whoever asks you because it's a great time to get to know guys).
Get a couple good but not over the top pairs of shoes, belts, and suits. Get goodyear welt constructed shoes so you can have them resoled / hold onto them longer (should be automatic if you get the typical analyst stuff).
People always give the advice of getting some baller shit but 1) I don't know what your background/upbringing/relationship with money is and 2) who knows where you are going to be in a year. Read this board and you'll see stories of ambitious and intelligent first years pulling the ripcord 6 months in. When I was a first year in a new city getting cranked, I didn't have time to plan and optimize things and I wasn't very good at being an adult so everything became much more expensive because I was paying for urgency. If you're from a modest upbringing and are unsure of your future printing money in MF PE or going to HF or whatever, having a little extra dough in your back pocket can go a long ways in helping you sleep at night and make more strategic decisions.
Either way, best of luck to you. Hope you have a good experience.
3 for $100
Get a new Hairline if yours is finished.
GME
This is the only place I know where people need opinions on what to buy. I don't know...a watch or something??
This dude clearly doesn’t have a wife or a girlfriend.
Why would he, he hasn’t even graduated college lol
Ugh, it's really annoying that all the virgins from /r/investing and /r/stocks have started commenting on WSO
I always wanted a nice man watch
Invest it. You don't get rich by spending big windfalls.
If you don’t have something particular in mind and you already have a nice home office setup, invest it. You’ll be saving it for when you do have something you want in mind.
Honestly a month's worth of nice underwear (CK Steel Micro and All Citizens are S tier), fun and thick socks (Darn Tough) and shirts (can get some tech shirt options or opt for the standard CT / TML). You will thank me when you don't have time to do laundry over the weekends (either because you were staffed, catching up on sleep, or frankly finally had some free time and didn't want to waste it on doing laundry)
This.
I bought 200 boxers and its still not enough.
Yup. Doing laundry for a wash and dry cycle means you literally have to be at home doing nothing that could be extended for 2-3 hours. Gross.
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