ZH: America’s top graduates don’t want jobs on wall st
https://www.zerohedge.com/markets/americas-top-gr…
Freshman here. Came across this article today. While I have come to understand ZeroHedge has a poor/fear mongering rep in finance, would anybody who went the route of IB change the way they did things in the beginning of college? I know tech and SWE type positions are becoming more attractive relative to IB, but to my understanding those jobs are geared towards those with super strong intellectual capabilities and a particular interest in tech. Any overall thoughts on this?
Sentiment rings true even at the MBA level, but the recent pay bumps put further distance between the alternatives. Interest has changed but when comp is no longer close IB is still attractive.
Semi-related: I actually know more than one classmate who picked consulting because it had the highest base salary on the MBA employment reports (165 vs 150 base)...they didn't know about the IB bonus structure. Embarrassing to have done that little research, but now that same employment report will show IB as the top dog once again.
Yea, I’m 2yrs post-MBA and I expect my total comp this year to be $450k+. Pretty hard to beat.
Jesus, where do you work? An EB?
I was a CS major who turned down a top SWE gig for IB-
Entry level comp is similar, but with a recent base raise my IB comp pretty easily beats first year SWE comp (wouldve been around 130-150k), IB around 180k.
Career earning are honestly pretty comparable IB to SWE- depends on stock more at a tech job, but my understanding is really associates/VP pay in IB is within line of tech pay at similar levels.
The difference for me was the 75% percentile outcomes are better in PE/other finance tracks. Most SWEs top out in the 500k-1M range unless you land an exec role or gamble on a startup that hits. A successful PE/HF senior out earns this easily.
The finance route is definitely more of a gamble on yourself, as it’s easier to skate by in tech without performance pressure, but if you trust your own abilities IB to buy side easily beats out.
What made you choose IB over a top SWE role?
Top SWE offers are on the order of 170-220k. Not sure when your offer was, but it’s becoming more competitive.
Turning down tech for IB? You realize tech is the exit opp.
LMAO
Don't know a single IB analyst leaving to do software engineering. It's not a corp dev offer
Would never work in SWE. I suck at coding
A friend of mine with 1.5yr experience in SWE is interviewing for a job at Amazon where base is $225k for a 9-6 job. That kind of base and work life balance seems hard to beat especially when you get equity comp as well
That not even that high of a tech offer either
Agree, but does he have to live in the bay area?
Nope, remote on east coast
That's interesting. One of my best friends has worked at Amazon for 5+ years and he's stated many times in the past that the base salary is capped at 160k max no matter how high you go as a exec, etc unless you are in NYC or SF where they can potentially add 10-15k. The comp change as you move up is reflected in RSUs. Not saying you're wrong but that base is way higher than what I've heard, maybe things have changed at Amazon in the last year or two.
Amazon is notoriously shitty with salaries, I imagine something like Google/Facebook/Apple would pay better.
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