Comments (23)

Nov 12, 2012
Nov 12, 2012

For the lazy people:


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Nov 12, 2012

Thanks! That is perfect!

Nov 12, 2012

;) No problem, glad to help

Nov 12, 2012

This makes me want to cry.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.

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Nov 12, 2012
SonnyZH:

This makes me want to cry.

Well, it's not as great as it used to be, but still better than most other jobs for grads, no?

Nov 12, 2012
Matrick:
SonnyZH:

This makes me want to cry.

Well, it's not as great as it used to be, but still better than most other jobs for grads, no?

uh, yeah, this is not worth crying over. How about bonus = 0?

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Nov 12, 2012

Anyone got a similar table for traders, people in ECM/DCM, in PE and at hedge funds?

Nov 12, 2012

I believe there is a similiar PE Compensation Report somewhere, but I forgot who published it.

Nov 12, 2012

Yup, that basically hits the nail on the head.

Nov 12, 2012

It's still the best-paying job out there - at least that I know of.
Consulting, Big4, law-firms etc.: They make less. The difference becomes bigger after a couple of years. Analyst 3 numbers are much higher than a consultant can expect to make after that time. Plus hours worked decrease with seniority. So long term it's not bad at all. Especially if you make top bucket.

Nov 12, 2012

One of the issues I have seen though is that people, especially first and second years, complain about the bonus and then leave. One guy once told me "I work twice as much as my friend at Consultancy XYZ, and after-tax we almost make the same". I guess 10k difference is not large enough for many to sacrifice twice the time almost.

Nov 12, 2012

That's short sigthed. Such people are better off in consulting anyway. I interned in both management consulting and investment banking at top firms. I used to be naive and think: 10k difference for much better hours...consulting is the real deal...
After the internships I can tell you: After six years in consulting you will be some kind of project manager and still work the exact same hours as a new hire...you are both working at the client's site and no one leaves earlier. Now, after six years in IB you are a VP and WORK LESS than in consulting, but MAKE TWICE AS MUCH or more. If you are short-sighted go for consulting, if you can look past year 1, choose investment banking.

Nov 12, 2012
SeaUrchinCeviche:

That's short sigthed. Such people are better off in consulting anyway. I interned in both management consulting and investment banking at top firms. I used to be naive and think: 10k difference for much better hours...consulting is the real deal...
After the internships I can tell you: After six years in consulting you will be some kind of project manager and still work the exact same hours as a new hire...you are both working at the client's site and no one leaves earlier. Now, after six years in IB you are a VP and WORK LESS than in consulting, but MAKE TWICE AS MUCH or more. If you are short-sighted go for consulting, if you can look past year 1, choose investment banking.

VPs are still working pretty brutal hours and I would guess more than most consultants. Sure, not pulling many all nighters anymore, but still consistently in the office until 7 or 8 and working (though maybe from home) most weekends. It is no walk in the park.

Nov 12, 2012
Black Jack:
SeaUrchinCeviche:

That's short sigthed. Such people are better off in consulting anyway. I interned in both management consulting and investment banking at top firms. I used to be naive and think: 10k difference for much better hours...consulting is the real deal...
After the internships I can tell you: After six years in consulting you will be some kind of project manager and still work the exact same hours as a new hire...you are both working at the client's site and no one leaves earlier. Now, after six years in IB you are a VP and WORK LESS than in consulting, but MAKE TWICE AS MUCH or more. If you are short-sighted go for consulting, if you can look past year 1, choose investment banking.

VPs are still working pretty brutal hours and I would guess more than most consultants. Sure, not pulling many all nighters anymore, but still consistently in the office until 7 or 8 and working (though maybe from home) most weekends. It is no walk in the park.

you're joking right? 8, brutal? get da fuck out.

Nov 12, 2012

Maybe complainers should go into PR. Make like 30k a year BEFORE taxes and work like 70 hours. Bunch of whiners, jesus

Nov 12, 2012

Exactly...the argument I love the most is: Living expenses are so high that as an analyst in London/NY you will barely break even...
Do you realize that the average salary in these cities is way below an analyst's? How are all these teachers, journalists, marketing types, baristas and waiters supposed to survive? When calculating break-even they include luxuries like expensive clubbing, clothes, watches, you name it. That's a nice lifestyle, but far from necessary. I hate all this whining.

Nov 12, 2012

I think that the high years (2007 etc.) really spoiled everyone looking to get into banking. I remember one Associate (3rd year, about to be promoted) tell me how when he was a first year analyst, all his colleagues went out with their bonuses and bought Porsche 911s. Ah well, I guess these times are really over. But then again: IN what industry are they not?

Nov 12, 2012

No consultant goes home at 7-8pm. 12 is the new normal and it can easily get to 2pm often. It's not that different from investment banking during the week (apart from the fact that you have a nice hotel bed and porn on a huge Bang & Olufsen screen once you get back to your room). The only difference is that you always have weekends off.

Nov 12, 2012
SeaUrchinCeviche:

No consultant goes home at 7-8pm. 12 is the new normal and it can easily get to 2pm often. It's not that different from investment banking during the week (apart from the fact that you have a nice hotel bed and porn on a huge Bang & Olufsen screen once you get back to your room). The only difference is that you always have weekends off.

Shit, leave at 2PM? Why even come back to the office after lunch? :)

Nov 12, 2012

Yeah always having week-ends off is actually a pretty big advantage if you ask me. Anyone who's ever been called back to the office on a Saturday or Sunday to do something for Monday knows what I am talking about.

Mar 9, 2013
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Mar 9, 2013
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