Decent Hours Job with ~$200k Comp
Are there any 9-5 positions other than software development where you can lateral from IB and make decent comp e.g $200k? Context would be 10 years of IB experience and want to make it to soccer/football practices. Thanks!
Senior Manager in corp fin should sort of clear that, Director for sure. Corp strategy, corp dev. May not be "9-5" but better and more predictable than banking.
10 year IB easily justifies Director+ for CS / CD
I've seen people with 2-4 years IB come in at the senior associate / manager levels.
Hours will probably be 8-6 or 9-7 but with COVID a lot of seniors have been logging off at 5, answering emails remotely while spending time with family, then reconnecting with the teams later in the afternoon / catching up at 8-9pm. I'd imagine a version of this will continue once we're back in the office.
I respect the hour situation. Probably going to have family at some point and I really want to be involved with the kid's activities too. Money doesn't mean jack if you sacrifice your whole life. I know there are several jobs that pay pretty well such as commercial lending. Know quite a few VPs/EVPs for regional banks that are making a couple hundred thousand and seem to be generally out at 5. Some F500 finance jobs pay pretty well with good work/life. Also look into companies like Amazon and MSFT within their finance divisions. These companies have amazing cultures.
I can confirm that Commercial Lending is definitely like that. 35-45 hours is pretty standard, closer to the 35 mark.
how much are these directors making at regional commercial banks ?
In Commercial Banking, the positions are normally as broken out as such - SVP = Director and EVP = Managing Director for context. I would say SVP's can range from $170k-$280k depending on market and overall talent. EVP's are probably in the $300-$400k range.
can confirm microsoft, hard disagree on amazon. it's a sweatshop. hours will be bad. great company and will get you lots of exposure, but don't look for easy hours
I will say Amazon, given that I have a few friends spread out across the org, can be a sweatshop but mostly just the SWE side which granted is the majority of people who recruit there but I'd say broader orgs within Amazon have amazing work cultures. Obviously this is highly dependent on your group but my friends who work there in non-SWE functions (advertising, AWS Bizdev etc) seem to love it there. But talk about layers and bureaucracy there my god.. having to write a 20 page document to justify anything you do with material effect is asinine but true
VPs in Asset Management probably fit that bill
Seconding this.
VPs in AM are typically around 160k base and 50-70k bonus.
Yeah a senior analyst will at least be doing twice that with upside
I'm sorry but what is a VP in the context of AM? Are you talking a Senior Analyst, which if this is the case, they will be earning multiples of 220k, LOL.
Pension/endowment fund
Internal biz dev manager roles, a lot of strategy jobs at tech companies (but you'll be comped in stock). With 10 years of banking experience its definitely possible.
You'll be comped in both. The cash component is significant.
100%, only exception is amazon, their cash component is notably lower than competition, but equity component is notably higher
Private Wealth Management 100%
was waiting for someone to say this.
downside is it's not a lateral. it's step down to making 50-80k as a rookie, building your book, and then making 200k+
hours decrease as income increases in PWM
How long would it take to get to $200k+ take home?
commercial / corporate banking RM
Exactly this. I'm in strategy at a large commercial bank and the corporate banking RMs can certainly clear $200 - $300k in a year and most of their time is spent locally with clients and get to attend sporting events, concerts, dinners, etc. on the company dime.
Coming from IB, as long as you have some sales experience, you'd be a great pickup for most of these banks.
what level can you expect to clear 200k in commercial banking VP?
Ever seen salespeople from S&T move into this? Seems like depending on product they could be a pretty good fit.
VP level at an asset manager is probably your best bet - happy to give you more about my personal experience over DM.
Organic farming, not evening joking. You need some knowhow and capital for the land.
Tf is the ebitda on a local organic farm.. I think with the localized margins you're better off housing it as a grow up and sell some loud on the side to increase reach.. that's local homegrown stuff.. or as the teens call it.. exotic....
.
How much do admin assistants / office managers make at a HF? My current office manager was at a HF prior and said she cleared $150k consistently doing admin tasks, is that accurate?
.
At reputable funds/firms a few of the support roles get paid pretty well. The closer you get to senior people the more value you add and your tasks become more complex (you are paid to anticipate what the senior person needs and keep things moving forward).
The “junior” support roles at the top places will be $80-120k. The more senior support roles (titles will vary across firm) actually get pretty high ($250-350k) but tend to cap around there. But it can be stressful as you are supporting people who can have hectic schedules and there is definitely stress involved.
accurate. I pay mine very well but she earns every damn penny
You want to work under slave conditions for 10 years to... make $200k?
why not, not everybody wants to become a millionaire. by that point you would probably have at least 300k-500k in savings. Plus 200k outside of NYC is near 400k in NYC
Truth...especially if partner is clearing 6 figs, $350k+ is solid household income for any zip code.
Can you autistic fetuses shut the fuck up until you hit puberty and have actually lived with a certain salary in a certain locale before spouting nonsense
Just out of curiosity, are there ever people who became senior in corp dev etc and then moved into being a senior banker for a few years? Sounds pretty amazing if you could do that and sidestep the execution side of IB. Saw a lot of people in f500 corp dev who were never in IB after a quick linkedin search.
Also, not qualified to answer OP's question, but maybe investor relations is another option?
I’m not sure on the answer here but I’ll say it takes longer to become the Head of Corp dev than it does to make MD.
I have seen this, and most of the time they are terrible bankers and would've made more had they stayed in corp dev.
At 10 years of experience, there are many jobs that offer $200k+ and 40 hrs/week. As posters above have mentioned, asset management is a good one (you make much more than $200k if you are on the investment or distribution side of a large long only shop). There are certain segments of PE/VC where 40-50 hrs is possible, e.g. secondaries / FoF
Wouldn’t secondaries/fof with some experience (assume VP level) be paid way above $200k? I thought associates get around that in secondaries. I would assume VP levels in secondaries clear $400k while working ~50-55ish hours?
Really depends on the shop. If you want 40 hrs/wk, you're most likely not getting $400k...more like $200-300k. YMMV but to get to $400k, you're probably a VP 3+ on the verge of making director and working 50-60 hrs/wk (this is for secondaries, less familiar with FoF)
I can see the commercial banking / lending market getting as competitive as IB in the near future because of this thread...
I work in commercial real estate lending for a bank. It was always a hidden gem. There is a reason why you will often find 20 year veterans at a bank. You get paid well. But it also attracts a certain kind of a personality. It is not for everyone.
what type of person does it attract
what personality...?
how much does a VP earn in CRE lending at super regional bank or BB?
Adding here know that friends that have left and joined high growth tech companies as associate level strategy make 200+ (specifically dropbox and startups that have modeled their strategy programs similar after they started)
Do they work long hours? I've heard that some of those teams do.
I've heard it depends on the background of th etop people. Know a few friends at start-ups who say they are working near banking hours on weekdays because their managers were former bankers and haven't gotten over that lifestyle of working at least until 12am every day
Heard Juul corp dev used to work 100+ hours or something
How has no one mentioned plain vanilla CF at a F500? After 10 years of IB you'd almost certainly exit at a Senior Manager/Director level, with comp of $200k+.
You'd have to survive 10 years in IB (pretty much D or MD level) to think about that.
I know associates that have been offered CF roles with $200k in total comp.
Have you considered taking a job that pays $150k/year? That would open up your options. You can't have it all.
Look at the AM arm at some Lifeco's as well. Its a great pay/lifestyle balance
Sales
I work ~55 hour weeks and I made close to $300k last year
How are you still single?
See previous threads on this.
In ER? What level are you?
Not in ER. Work at a value L/S equity HF
To my understanding, Commercial Real Estate has good comp and similar hours to this, except you may have to wine and dine clients which takes up your nights. With your experience you could easily do the job of a relationship manager and work in lending. The only caveat is that CRE is very relationship based and requires local knowledge so that may be tough coming from IB
I would say some kind of business position in the defense industry. Less than 200k but adjusted for COL, more than enough. Full of smart but lazy people who can do whatever they want cause they have clearance.
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