I was curious to know how much money spend people in Investment Banking in a single suit. Do they spend around $150-$350 on a suit like most people do in other career paths, or otherwise as they earn higher salaries they usually spend more than that.
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First years probably should have a couple ~$300-$500, maybe one that is a little more expensive, think $1,000.
As you become more senior you may spend a little more, but to be honest, I would think of the first years suit like pledge attire. You’re going to wear them out and really don’t need to spend anything more than that to impress the other monkeys in the office.
I feel like every junior banker (analysts and associates) has a couple of $500-600 Suitsupply suits. Probably the best way to go from a quality / styling / convenience perspective. Brooks Bros and Ralph Lauren are decent options too, if a bit more expensive ($1000 or so each). Don't go much cheaper than Suitsupply (their entry level suits are around $400) -- that's the range where suits feel noticeably cheap and that's not a good look. On the flip side, no need to spend above $1000 (unless you want to) because most people won't be able to tell and they won't expect you to have anything better.
VP/MD is where people start to branch out into E. Zegna, Isaia, Brioni, RLPL etc. and those can easily run you >$3,000 each.
black lapel is pretty solid. i do suggest dropping a little more for their top line as its fully canvassed and affordable. knot standard is good for custom shirts
Personally, I would go for a bunch from Suit Supply and focus on a range of different suits. You’re going to be depreciating the hell out them from everyday use and they will rip.
Just have two. Very rare that you'll be in a meeting for more than two days. Also, bring enough variety that you can switch out for one day meetings enough that people won't notice it's the same suit.
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Not sure how you spend $150 on a suit - seems insane.
I don't have super nice suits, but I have ones that are very well cut.
This is probably the cost of 1 decent suit/outfit:
Pants and top: $400-800 Belt: $50-200 Tie: $50-200 White shirt: $50-150 Shoes: $100-300
Don't buy a crappy tie and make sure your shoes are quality. Having a good cut suit with a nice tie and shoes will get you places. Don't skimp.
Higher end suits in IB/PE are probably going to be similar to these Kiton suits:
Kiton Men's Herringbone Solaro Two-Piece Suit $7,494 40% off: $4,496.40 https://www.neimanmarcus.com/p/kiton-mens-herringbone-solaro-two-piece-…
Kiton Men's Check Two-Piece Wool Suit $7,494 40% off: $4,496.40 https://www.neimanmarcus.com/p/kiton-mens-check-two-piece-wool-suit-pro…
I definitely have never spent this much cash on a suit. But, they do look nice. Honestly though, I prefer strictly 2 buttons - these are different.
Also, invest in a clean white shirt without buttons on the collar. This is the canvas for a good outfit. French cuffs optional.
please do not do french cuffs, especially as an incoming analyst. and dont do the initial engraving on your shirts, you will look like a smuck.
Wow, those price are steep. I am glad that I no longer wear suits!
The keys are the cut of the suit and then, as you said, the shoes and tie. It's amazing the difference those 'details' so to speak can make when you present yourself professionally.
I also think that when you start getting up over $5k for a suit - i'd suggest you go bespoke at that point.
$300 seems like a good point for Analysts. Like folks above have said, you're going to wear them out anyway.
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