Why dont the bankers on here live the lavish life associated with IB?
I've seen threads about what kind of car you drive, what you spend money on, etc. Dont see too many people driving around the 100k cars or buying the expensive things. So at what point do you begin to indulge yourself in the lavish lifestyle that is attached to being a Banker or working on Wall Street?
banking is not about buying those things, but bragging about what you coud potentially buy and the potential size of your bonus.
THIS.
And possibly - some of them are just thinking ahead. I am not an IB nor was I - but have worked on WS for over a decade. I remember guys telling me about the new boat they just bought....... And then I remember the same guys selling these boats a couple years ago for half the price to pay their mortgage.
We are not in the IPO BOOM times right now - perhaps it's better to sock some of it away and just lease a Mercedes?
Most "bankers" on this forum are high school/college students, summer analysts, and first year analysts.
Now if you'll excuse me I have to go drive my Ferrari down to the airport where my private jet is waiting to take me to my island fortress in the pacific (that also functions as a megafund PE shop)
This was a stupid thing to say..
Because they are too young. After taxes, student loans, rent, analyst comp is a joke.
^^^^ This
You make a lot of money as you move up the ranks, but what time are you going to have as an analyst, in NYC, to drive your sick car. I think this image of "balling" out comes from traders or HF guys. Bankers grind it out.
You´re funny
Some MDs in IB do live the lifestyle you mentioned, they play golf and drive expensive cars, but the rest of wall street is really working hard.
Lavish lifestyle---> I would say lavish lifestyle says a lot about the person´s character
idiot
lol
I love the internet vendetta you two have for each other
Then when your older you get a wife and 3 kids. Then private school tuition comes before "fancy cars" and living the lavish life. Then when the kids are old enuff, you need to buy them a "fancy car" before you get to buy your own ferrai. Then you have to help pay for 40k/year undergrad tuition. So on...
I went into IB for several reasons, but the comp piece of it was that it would allow me to lead the same life I could lead on 60k/year, but with a lot more security. Spending to match my income would totally defeat that goal.
I would think that if you were living the "lavish" lifestyle your ass would not be typing about your "lavish" lifestyle on a message board, rather, you'd be out and about living it.
As for me, I have 0 college debt and am FT at a BB. I'm saving for grad school and paying $1500 rent. I like to buy nice clothes and that's it.
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