Which pays the most out of undergrad?
What pays the most out of undergrad? (Obviously they all require different skills sets.) But on average, does IB, PE, HF, SWE, quant, or another industry that a relatively normal smart undergrad can break into?
I would assume IB. Quant shops pay well but you have to be smarter than relatively normal. PE is hard to recruit for unless you go through IB. Idk about hedge funds but I assume it would be lower than IB(?).
Also, it’s firm specific. Try to find what type of work you prefer and would be better at than just focusing on the marginal differences in pay.
there are a lot of jobs outside of finance that pay a ton straight out of undergrad, too. had a friend who graduated with a degree in mining engineering last year that is making 195k right out of school
do explain, seems weird to be compensated so high. usually there’s not a need to pay above 100-120 to attract top talent, etc. so it seems a bit out of place to be paid so high. is it a risky job (physically demanding possibly) / obscure field / etc ? what’s career progression like do you know
There's a few reasons. First off, the hours are long and the work is definitely not the most interesting/engaging. On top of that, you're living on these worksites out in random parts of the country like North Dakota.
Last thing he said, and this seems crazy, but there are about 3 jobs being created in the field for every kid that graduates college in a related major...so demand seriously exceeds supply.
He also mentioned that career progression is solid for the first 5-7 years, but you top out ~350k unless you move into a corporate role
Way too firm specific. I would say quant pays the most by far out of all of those though (however this usually requires MFE or PhD in mathematics/finance/physics. I know you said out of undergrad, and I would still say quant as most people are nowhere near prepared or interested to recruit for those positions and theyre very tough to get and also provide great benefit to the firm
IB Rx
In terms of just straight entry level offers:
AI/ML research at unicorns and the highest paying established tech companies
New grad SWE offers at unicorns, the highest paying established tech companies (with competing offers) and quant finance firms
APM programs at unicorns and the highest paying established tech companies
IB at the highest paying EBs
Entry-level quant finance (QR, QT) roles at the usual suspects across quant HFs, prop shops and AMs
Seats at major fundamental single manager/multi-strat HFs or pod platforms that take in new grads
Analyst programs at MF/UMM PE firms
Those are probably all of the highest offers (i.e. $150k+ total comp) I can think of offhand. It's kind of a ridiculous question though considering probably 0 people ever are going to fit the profile/skillset to get all of these offers and be in the position to choose between them.
Obviously after you have the next tier of high finance roles, consulting roles, lower offers/other roles (i.e. PMM, data science/analytics, design etc) in tech, corporate/MO/BO roles etc. Then at the bottom probably LDPs/corporate IC roles at the lower paying corporates.
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