IB vs PE vs Big Law salary and bonus
Just wondering what the difference is in salaries between them are.
And also the amount of hours you put in, on a weekly basis.
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Holding constant firm quality - its actually PE>big law>IB.
The average NYC V5 corporate partner makes more than the average BB IBD MD, and likely also has more staying power. Comp ceiling is of course higher on banking side.
Biglaw is just a much more brutal practice and has shit exit opps. I'd do banking over biglaw 10/10 times (I'm a former lawyer as well).
I don’t have any statistics on this but I would have to guess this really comes down to carry and longevity. It’s harder to have a long career in PE vs IB, from what I’ve seen. There were first year VPs in IB this year who made $750k+ along with some more senior VPs who got close or into 7 figures. Without solid carry this would be really tough to beat. It’s also probably easier to hang on in IB until VP+ especially coming out of business school. Just some things to consider when we’re netting this all out.
Well, carry and going out on your own to create your personal fortune should be part of this equation.
Just use the search button... how many of these threads do we need... You'll make extremely good money compared to 99% of the population so do what you like, not what makes the most on an hourly basis which is an impossible calculation.
The only correct answer to your question is the one that you like the most that aligns relatively well with your skillset. There are PE guys who out earn 99.9% of bankers and lawyers. There are bankers who out earn 99.9% of PE guys and lawyers. There are lawyers who out earn 99.9% of PE guys and bankers.
On average, I'd guess PE>IB>big law for comp, but I can't emphasize the above enough.
To be honest, that is probably not accurate with regards to the PE side of things. The sheer number of PE billionaires out there is actually astounding compared to the number of people who actually are actually in PE (it might be less than 1/1000, if you consider active PE professionals).
The investment bankers that have made billionaire status, have largely all done it through the merchant banking / private equity sides of their business, excluding Ken Moelis who probably made some of his fortune from Moelis Capital Partners.
The lawyers who all made it, all did it from moving into investment roles other than Jamail.
This is probably the answer to the original question.
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