Met a guy with a Bugatti Veyron got me thinking about life

I met a dude with a Bugatti Veyron recently.

They are degreeless 3rd generation agro business owners. Had real humble origins but they own lots of other commercial properties.

Made me think. When we think of high net worth individual or UHNWIs we think of well-spoken Ivy League types. But those aren't the template.

Many of the wealthy are ordinary people in speaking and articulation who just built wealth by owning small to medium scale enterprises in arrays of uninteresting or simple businesses.

Yet  we always think the paths to it are hedge funds, wall street, ivy leagues etcetera. 

Has anyone ever contemplated that income expansion comes through increasing productivity tied to how we get paid ? In other words instead of getting paid by the hour if we owned any stupid business and got paid by the output sold that alone in itself is a vocation that can beat any thing else.

Yet we spend 20-30 years working on someone else's ship being dolts who can be replaced at a whim.

Even in Formula 1, the real genius is the man who owns the platform not the one who has a team. The F1 platform owner gets paid regardless of who wins.

In other words, most people have no equity or ownership in the the firm they work in. Who cares how  much you get paid. The real source of wealth is owning factors of production. Whether it's owning land (as it was during the age of empires) or nowadays, owning a stake in a company or owning even a rental property.

Owning shit  that is productive is key here. I'm starting to think the real reason most people don't become rich is not because they're dumb or not capable. Compounding sums of money, investing, reinvesting, and doing that over a lifetime in and out of itself is a job and effort in itself. Most people do not have the time, patience, interest, or frankly boring ness to do all the boring shit involved in realizing financial freedom. 

So they sit in some cubicle or desk for 30 years even though it caps their growth.

Look up Bruce Halle if you think this theory is crap. Who knew you can make billions in discounted tire repair shops. 

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Comments (66)

Jun 15, 2022 - 1:49pm
Lester Freamon, what's your opinion? Comment below:

You're spot on. At the end of the day, being "wealthy" means you own productive assets, whether it's real estate, equity in businesses, etc. Someone who founded a successful business but sells too soon is less likely to be wealthy than the guy who bought him out and held on until the business fully matured, even though the first person came up with the idea in the first place.

I think going an ivy league school and/or working certain jobs give you a better chance at being an owner of productive assets, which is why they're coveted. On average, your classmates or colleagues will likely be highly successful individuals that will be future creators of such businesses and/or you're more likely to be one of the privileged few to hear about once-in-a-lifetime opportunities to invest in that can make you a lot of money. Plus, it's one of those "it takes money to make money" things where if you don't have money in the first place, it's hard to invest and grow that stockpile to a more meaningful amount. So a high paying job necessarily opens up doors from that perspective.

It's not to say that it's impossible to "make it" if you aren't in those circles, but the common denominator is less so someone's education/pedigree but rather what they've chosen to tie their net worth to and how well those assets performed.

Jun 16, 2022 - 4:34pm
Username_TBU, what's your opinion? Comment below:

To add on to this:

- Owning a business is a totally different skill set and requires expertise. Being a highly paid Ivy grad requires academic intelligence ("analysis paralysis") and willingness to put in facetime

- Owning a business (especially starting) is high risk/high reward. For everyone you know who started a business and was successful, there are so many people who really are not doing well at all. Joining a financial firm to make upper middle class money can be as low risk as it comes

Jun 16, 2022 - 5:41pm
Lester Freamon, what's your opinion? Comment below:

100% accurate. This is something that took me a long time to figure out but I finally have - anyone who makes a lot of money is probably working extraordinarily hard to earn their keep or took on a tremendous amount of risk that has now paid off. The only exception to this I can think of are people who are heirs/heiresses to people who are super rich and kind of fell into that kind of money. Outside of those few people that have large inheritances, I'm no longer jealous of people that are rich becuase I know they probably have a lot of work-related stress that allows them to buy the stuff they do.

If there were a career path that paid a ton of money with a good lifestyle, either everyone would try to get in on it and the wages would come down to match demand or it'll be super competitive to get into that only the elite of the elite get in (think dermatology residencies vs pretty much any other residency in med school).

Jun 16, 2022 - 6:11pm
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:
Username_TBU

Joining a financial firm to make upper middle class money can be as low risk as it comes

This is exactly it. The risk is the opportunity cost of staying in a secure stable job versus the millions you could be making as a successful business owner. Sadly most small businesses fail. So there is a lot of risk in a small business making it big, but also a lot of reward if it does succeed, especially if you're a 80% or 100% equity owner of it. Then you literally get to keep all your profits.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Jun 15, 2022 - 2:42pm
Ozymandia, what's your opinion? Comment below:

Except owning a business is hard work, fraught with risk.  Most business owners aren't super wealthy, that is just confirmation bias.  To be insanely, UHNW wealthy you probably need to own your own business.  But my guess is there are far more small business owners toiling in respectable middle class obscurity than we think.

Whereas working on Wall Street, or in consulting, or what have you.... those are risk-free ways to make more than enough money.  Tons of senior bankers make mid six to mid seven figures, which is objectively enough money to live an exceptionally comfortable lifestyle and have savings, give your kids a great education, have a worry-free retirement, and leave something behind for future generations.  But no, you're unlikely to die with $50mm in the bank.

So as with most things in life, it's a question of what you want.  In your words, if you own factors of production, you have a chance to snowball that into truly generational wealth.  But you are far more likely to end up barely making ends meet.  Going to work for someone else means not having to worry about guaranteeing loans, making payroll, etc... you just draw your check, and if that stops, you move on and take those skills to another firm.  Most people, despite what they say, aren't comfortable with the massive uncertainty that comes with striking out on your own.  If you want to own the nice house in the suburbs, maybe a second home by the lake, and drive a couple nice cars (even a Bugatti).... then working in banking is a safer, easier way to get to that than starting your own company.

It's a truism to say that owners are worth more than employees.  But is safe and easy to be an employee and risky and hard to be an owner.

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Jun 15, 2022 - 2:52pm
papertiger, what's your opinion? Comment below:

Brilliant response. A great counterview. APpreciated and high quality post.

Jun 15, 2022 - 3:55pm
Ozymandia, what's your opinion? Comment below:
Pulisic69

what kind of senior bankers are able to afford a bugatti veyron along with the things you mentioned? group heads at GS? 

Not out of the question for a senior banker to make $1mm a year, is it?  It costs like $24,000/month to lease a Bugatti Veyron.  Not saying it's a smart way to spend money, but to drive that car for a year would cost about $300,000.  That is well within the financial means of a person who has been in an MD role for a decade or so.  Again, not a smart use of savings... but driving a Bugatti is stupid for anyone, up to and including someone who is worth nine or ten figures.

As for the rest... again, not crazy to own two homes with a combined value of 4-5mm.  Probably have a mortgage on both.  Not sure why this math is so hard to understand.

Jun 15, 2022 - 3:35pm
Smoke Frog, what's your opinion? Comment below:

Wow how insightful.

You mean being the boss / owner is more fruitful than being a rank and file employee?

I wonder why people leaving banking and go into PE? It's a mystery you just cracked!

Jun 15, 2022 - 3:55pm
papertiger, what's your opinion? Comment below:
Smoke Frog

Wow how insightful.

You mean being the boss / owner is more fruitful than being a rank and file employee?

I wonder why people leaving banking and go into PE? It's a mystery you just cracked!

It's a musing.

Jun 15, 2022 - 4:08pm
m_1, what's your opinion? Comment below:

If you're OK with slowish growth, you can definitely build a nice income up by the time you're 50. If you want to go faster, things get very difficult.

For example, let's run the math quickly on making ~$500k.

Say you have a co with 10% net margin.

You probably need to be doing $10m a year to pay yourself $500k without crippling the company's growth.

To get to $10m/yr in revenue, bootstrapped, is quite difficult.

You take on a lot of risk...and it's a very high stress lifestyle. It's not for everyone, and I don't think everyone should aim to own a business. Owning assets or being an investor in a business, sure. BTW, being a 3rd gen owner of a co is VERY different than being the one that took something from $0 -> $25mm+ in rev over 5 - 10 years.

I've taken a few companies from nothing to $10m+ and it's a lot of work, do not recommend unless you are an unemployable twat like me.

Jun 15, 2022 - 5:25pm
justtrynamakeitwork, what's your opinion? Comment below:

One of my good family friends come from incredibly humble beginnings. 3 brothers immigrated, 2 to Canada and one to the US in the 80s/90s. Worked at gas stations and convenience stores. One of the brothers was a really good worker, eventually became manager, and later the owner of the store passed on the store to him and his wife who invested everything they had in to the business. In the following ~30 years, they amassed an empire of franchised restaurants, truck stops,  gas stations, etc... 

All three brothers joined efforts to support grow the business and they have probably ~$200mm of assets now: hotels, commercial properties, etc... one of them lives in a ~30k square foot mansion now 45 minutes outside of LA on a big lot where they grow all their own food, have their own reverse osmosis water filtration system, and literally everything they need. All of their employees are family friends at this point. They helped a lot of their family who lived in the old country migrate over and gave them jobs, a place to stay, etc...

Still, they push their kids to go to college and they are off in the world doing their own things, ironically living in small apartments and working good but relatively miniscule jobs in tech and finance. It's an interesting cycle.  

I think the manpower and work ethic (they often point to their father for pushing them hard to work together efficiently) and the familial bond they have is really inspiring. 

Jun 17, 2022 - 12:39am
tomatoorange, what's your opinion? Comment below:

My family also made its money in gas stations coincidentally. Both my uncle and father never went to college and left for the US once they got their visas. They started off working at a store as cashiers, then leased it and bought it eventually and grew slowly over a decade to 5 stores. Uncle deals with the finance side and my father deals with operations. They got lucky with a few well-timed business deals and ran the stores very well, so they were able to build up the company to ~130 stores, diversified into fast food, became petroleum distributors and other commercial real estate ventures. In their case, if they went to college (they had the option to go to community college) they would never be able to become incredibly wealthy. However, my father still regrets that he doesn't have the status that comes with going to an elite college because his culture puts a large emphasis on education. Also, his job is incredibly stressful (if he makes bad moves, they lose millions a year from his own pockets and my uncle and him go bankrupt and he loses everything vs. just having to look for a new job) and he still works 60 hrs a week plus is on call 24/7. Overall, business is probably your best bet if you want to become extremely wealthy (9 fig net worth), but HYP probably has a higher expected value because of how rare it is to become extremely successful.

Jun 17, 2022 - 1:12am
justtrynamakeitwork, what's your opinion? Comment below:

I think the best case is if you can do both. Get the education, work in the corporate world a bit, and then take a delve into the business world once you have your feet wet in the industry. At this point you can hopefully talk the talk, have some money, and have the perspective gained to push yourself to succeed in the business ventures. It's undoubtedly hard to succeed, but I think with ambition, wits, and obviously a little luck it is a noble and lucrative path. 

Jun 15, 2022 - 8:57pm
Kevin25, what's your opinion? Comment below:

how much do you have to pay down when you buy Bugatti Veyron? new one goes for $1.9M, but I bet you can get an old one for $1M. I saw old Ferraris on sale for much less than a mil. and if you can put down like 20%, you could buy it with your bonus once you're a VP or something.

Jun 16, 2022 - 1:50pm
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

This is the cheapest one on Autotrader although there are many others without a price listed.

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"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jun 17, 2022 - 3:51am
bhejafried, what's your opinion? Comment below:

Yes, I started watching him for the entertainment but realised that he was making a lot of good points. I suspect that he is sort of playing a character and putting on a show and the points he makes are exaggerated but probably that's the reason people might listen to him in the first place because he sounds so controversial.

Jun 15, 2022 - 11:29pm
CuriousCharacter, what's your opinion? Comment below:

You don't seem to understand the purpose of the university system in the United States.

It's not about money or education, it's about class, and a degree from HYP is a ticket to the upper class.

There's no shortage of smart, rich people who never went to college.

Jun 15, 2022 - 11:38pm
papertiger, what's your opinion? Comment below:
CuriousCharacter

You don't seem to understand the purpose of the university system in the United States.

It's not about money or education, it's about class, and a degree from HYP is a ticket to the upper class.

There's no shortage of smart, rich people who never went to college.

Steve Jobs is far from the establishment (HYP blueblood) and I believe he was considered an American icon. Wonder if your theory is still true in this day and age.

Jun 16, 2022 - 9:25am
CuriousCharacter, what's your opinion? Comment below:
papertiger

Steve Jobs is far from the establishment (HYP blueblood) and I believe he was considered an American icon. Wonder if your theory is still true in this day and age.

Exactly, Steve Jobs was not part of the establishment - he didn't walk, talk, or act like a member of the upper class - but he was very rich.

Jun 16, 2022 - 5:31pm
robertsquire, what's your opinion? Comment below:

https://palladiummag.com/2021/12/16/the-lost-virtue-of-skull-and-bones/

You are about 60 to 70 years too late, unfortunately. 

Jun 16, 2022 - 11:45pm
Pierre Ortiz, what's your opinion? Comment below:

My family is from a country that had a monarchy at one point, and still has a strong Old Money Class system in place.  The US barely had a WASP hereditary elite, and what was left of it post WW2 was finished off by working class Jewish Americans.  It's nothing like the UK or Thailand here. Not anymore.  

Jun 17, 2022 - 11:22am
Ozymandia, what's your opinion? Comment below:
CuriousCharacter

There's no shortage of smart, rich people who never went to college.

Sure... but there are a lot more smart and rich people who did.  Pointing out exceptions isn't any kind of argument.  A college education will help in any endeavor, full stop.  Yes, there are high school dropouts who are worth tons of money, but "finish high school and then become a millionaire" isn't a plan, so acting like the wealthy and smart people without a degree are a good example to follow is extremely disingenuous.

Jun 17, 2022 - 3:03pm
monkey0114, what's your opinion? Comment below:

Maybe in the past but this is changing and won't be the case when we are in senior positions. In general society has become far more PC and less classist. Firms are hiring from the widest range of universities than they ever have done. The huge growth in tech industry exemplifies this as they focus far more on technical skills than university background compared to finance. There is a huge push for diversity hiring and this sometimes includes people from lower classes/incomes. Obviously a degree from an elite university will still be very prestigious and a positive, but as the years go by it will have diminishing returns.

In the UK for example, oxbridge have been prioritising people from poorer backgrounds for a while and they are increasing this as time goes on. The percentage of MPs in UK Parliament from oxbridge decreases year on year and is at its lowest percentage of all time now. 

As society progresses forwards it becomes less elitist and classist by nature.

Jun 16, 2022 - 12:14am
Bankerconsu, what's your opinion? Comment below:

This isn't a groundbreaking idea. Higher risk carries higher reward. It's like that with most things in life, not just wealth.

I pulled out a home equity line to purchase the initial capital equipment which local banks would not when starting my business. 

Jun 16, 2022 - 3:35am
TheBuellerBanker, what's your opinion? Comment below:

The reality is that to get to a level of wealth where you can afford to spend $2M+ on a car, you can't have a salaried job in finance or whatever. Wealth creation supercedes that and is done via creation and execution of an idea which can be monetized and largely belongs to you. 

To use your example, if you're even an MD or Partner at a high finance firm you'll probably be rich by most standards and have very low limits to achieving a very comfortable life which may include a nice house or two, kids with expensive private educations, and some nice cars. But unless you're an equity partner raking in $5M+, it's very unlikely that even if you're an MD taking home $3M that you're buying a Bugatti.

As you said, ownership is key and that is where real wealth is created. Having a business or the likes which is feeding you returns year after year will always yield you true wealth vs riches offered in even the best salaried jobs.

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Jun 17, 2022 - 11:25am
Ozymandia, what's your opinion? Comment below:
TheBuellerBanker

The reality is that to get to a level of wealth where you can afford to spend $2M+ on a car, you can't have a salaried job in finance or whatever. Wealth creation supercedes that and is done via creation and execution of an idea which can be monetized and largely belongs to you. 

To use your example, if you're even an MD or Partner at a high finance firm you'll probably be rich by most standards and have very low limits to achieving a very comfortable life which may include a nice house or two, kids with expensive private educations, and some nice cars. But unless you're an equity partner raking in $5M+, it's very unlikely that even if you're an MD taking home $3M that you're buying a Bugatti.

If I make $1mm a year as a senior banker, which isn't unreasonable, then with even the smallest amount of frugality I can save up to buy a million dollar car.  

What you mean is that you need to be making $5mm+ to be able to comfortably afford that car, which is a different story entirely.  If you love cars and your dream is to own a Bugatti, that is achievable.  Plenty of bankers own second homes - you're just trading a second home for a supercar.  Again, it's stupid, but it's possible.  And most people who make that much money are savvy enough not to blow all that money on a depreciating asset that they'll tire of in a year.

As you said, ownership is key and that is where real wealth is created. Having a business or the likes which is feeding you returns year after year will always yield you true wealth vs riches offered in even the best salaried jobs.

Wow.  What a revelation

Jun 20, 2022 - 5:39am
TheBuellerBanker, what's your opinion? Comment below:

Dude I'm giving one man's perspective. Sure if you wanna buy a Bugatti on a ~1-2M comp then you prob can but all I was saying was that as a reasonable person, it's feasible to NOT buy a Bugatti given you're not making as much as you want haha.

Jun 16, 2022 - 9:17pm
Pierogi Equities, what's your opinion? Comment below:
papertiger

Even in Formula 1, the real genius is the man who owns the platform not the one who has a team. The F1 platform owner gets paid regardless of who wins.

does any one entity own F1? I thought each team was owned separately and it was more like the NFL where all the teams have some kind of stake.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

Jun 17, 2022 - 9:37am
papertiger, what's your opinion? Comment below:
Pierogi Equities
papertiger

Even in Formula 1, the real genius is the man who owns the platform not the one who has a team. The F1 platform owner gets paid regardless of who wins.

does any one entity own F1? I thought each team was owned separately and it was more like the NFL where all the teams have some kind of stake.

I've always considered Bernie Ecclestone a genius. He's like the owner of the casino. The fortunes of a team are fickle. He gets paid regardless every race. Ofc this was when he owned the show.

Jun 17, 2022 - 10:53am
Pierogi Equities, what's your opinion? Comment below:

idk how it works from a licensing/cash flow perspective, but it's owned by Liberty Media, which also owns the Atlanta Braves.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

Jun 17, 2022 - 11:27am
PeepeeFinancePoopoo, what's your opinion? Comment below:

I met a guy jacking off furiously in the bathroom, got me thinking about life, and then I stepped away from the mirror and went back into the office.

Life is a road... and I love creating potholes
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Jun 17, 2022 - 12:59pm
ConfusedGuru, what's your opinion? Comment below:

Money, and by extent social class, is a weird thing. I easily make more than 99+% of people my age. But then you put me next to that Bugatti guy and I might as well be homeless. 
 

Some people just have crazy amounts of wealth. 

Jun 17, 2022 - 1:27pm
papertiger, what's your opinion? Comment below:
ConfusedGuru

Money, and by extent social class, is a weird thing. I easily make more than 99+% of people my age. But then you put me next to that Bugatti guy and I might as well be homeless. 
 

Some people just have crazy amounts of wealth. 

I dont know how rich they are. His house is around 6-7 mill. they have 40-50 industrial rental properties.

he's a multimillionaire but that's it I think.

Jun 17, 2022 - 2:39pm
Lester Freamon, what's your opinion? Comment below:

I think it has to do with the fact that wealth compounds exponentially and that we culturally in America are drawn to winners (or, more cynically, perceived winners) and will pay a lot more for them.

Assuming the salary percentiles on this website below are accurate, it's pretty clear that as you get closer to the top in wealth, the incremental money it takes to get there rises disproportionately from the previous step (i.e. it takes a lot more income to get from 95th percentile to 99th percentile than it does to go from 90th to 95th percentile).

That's also why people like me, who works a T2-T3 job relative to this website, are perceived as "rich" by the average person. Turn that around, and someone like me is in awe of the money people in IB/MBB make while people in IB/MBB feel poor compared to the top folks in IB/PE/Consulting, etc. Part of it is a convenience sample in that we're exposed to well-off people and feel poor, but the other part is just that as you move up, you just take disproportionately more of the "winnings" than the people underneath you. 

https://dqydj.com/income-percentile-calculator/

Jun 18, 2022 - 12:31pm
IcedxTaro, what's your opinion? Comment below:
Lester Freamon

I think it has to do with the fact that wealth compounds exponentially and that we culturally in America are drawn to winners (or, more cynically, perceived winners) and will pay a lot more for them.

Assuming the salary percentiles on this website below are accurate, it's pretty clear that as you get closer to the top in wealth, the incremental money it takes to get there rises disproportionately from the previous step (i.e. it takes a lot more income to get from 95th percentile to 99th percentile than it does to go from 90th to 95th percentile).

That's also why people like me, who works a T2-T3 job relative to this website, are perceived as "rich" by the average person. Turn that around, and someone like me is in awe of the money people in IB/MBB make while people in IB/MBB feel poor compared to the top folks in IB/PE/Consulting, etc. Part of it is a convenience sample in that we're exposed to well-off people and feel poor, but the other part is just that as you move up, you just take disproportionately more of the "winnings" than the people underneath you. 

https://dqydj.com/income-percentile-calculator/

I know that there will always be someone more wealthier as one pursues monetary gains.  I also find that as I get to know individuals with a lot of wealth, their day to day lives aren't so different to me (or perhaps because that is what I am surrounded by).

Jun 17, 2022 - 1:52pm
papertiger, what's your opinion? Comment below:
Venturepapi

This is a rather risk averse bunch.... 

The real oddity is everyone here is smart enough to know the reward is proportional to the risk yet despite that all we hear is bitching about the risk.

I mean literally, bite the bullet, figure it out, get your return. If there wasn't any barrier to entry we'd all do it so the obstacle is the way.

Jun 17, 2022 - 1:52pm
IcedxTaro, what's your opinion? Comment below:

I am Asian American, and grew up with other ethnicities who are entrepreneurs.  The community I grew up in was heavily diverse with people who came to America for a better life.  I got to see firsthand the wealth of success these people who barely had an elementary grade school education pull six, seven figures net worth over a period of time.  There's no question that the path to take is going out on your own.  However, it came with risk - as everything in life.  My mother raised us with the family business she built from scratch and gave us kids a good upbringing.

I am a long-time lurker on this forum, and I plan to purchase or build a business soon.  I am working on getting the licenses/certs before starting - even if it is a weekend/side hustle to begin.  I posted before that I would want to own a little tax prep shop, and still do.  The tax prep guy I used to go to was busy 7 days a week during tax season, and makes a killing.  He owns a $1m+ dollar house not far from where his business is located, sent his kids (tuition paid for) at UC's, paid for his kids houses/condos, and expanded his business by buying out the empty store that was next to his and had a renovation. 

He started his business with an Accounting degree from a local state university, but got his tax certification soon after to go out on his own.  His advice to me was, "This business is always needed.  It is not going away anytime soon and people will always need help."  I know personally he has had to turn customers away because he did not have time to assist them with their efforts.

Jun 17, 2022 - 2:23pm
LATAMpapi, what's your opinion? Comment below:

so seize the means of production comrade?

My Brother. My Captain. My King.
Jun 17, 2022 - 4:50pm
jackdonaghy26, what's your opinion? Comment below:

There have been a few decent articles on this, namely "American Gentry" by The Atlantic. 

* https://www.theatlantic.com/ideas/archive/2021/09/trump-american-gentry-wyman-elites/620151/

* https://www.nytimes.com/2022/05/14/opinion/sunday/rich-happiness-big-data.html

Array
Jun 20, 2022 - 3:53pm
Mr Incredible, what's your opinion? Comment below:

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Jun 23, 2022 - 4:14am
earthwalker7, what's your opinion? Comment below:

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  • Greenhill (▲07) 98.8%
  • Rothschild (▲01) 98.3%
  • Evercore (▽01) 97.9%

Professional Growth Opportunities

June 2022 Investment Banking

  • Jefferies & Company (▲04) 99.6%
  • Lincoln International (▲04) 99.2%
  • RBC Capital Markets (▲09) 98.8%
  • Houlihan Lokey (▲07) 98.4%
  • Bank of America Merrill Lynch (▲04) 98.0%

Total Avg Compensation

June 2022 Investment Banking

  • Director/MD (9) $661
  • Vice President (37) $394
  • Associates (189) $246
  • 2nd Year Analyst (115) $162
  • 3rd+ Year Analyst (17) $156
  • 1st Year Analyst (369) $150
  • Intern/Summer Associate (77) $148
  • Intern/Summer Analyst (290) $91