Xiiixiii:

Why does this question come up so often for you IB guys? I'm legitimately curious... The RE, WM, HF and consultant folks don't seem to bring this up, at least in my experience. It seems IB causes an existential crisis of sorts by the 2nd year. Not trying to hijack your thread, I'm looking forward to the responses.

Because 90 hour workweeks with no weekends suck. Any sane person would suffer an existential crisis after a few years of that.

Glad I'm a quant. It's 60 degrees in Chicago, and we have a three day weekend. :-)

The good news: everyone who's worked long enough has a tough job, boss, whatever. Escaping that situation is an awesome feeling. Getting that situation out of the way early is smart, and that two week, six week, whatever vacation between your old tough job and your new better job is the best feeling in the world.

 
Best Response

Not to put down on anyone. Just trying to make a point. I have a good friend that I went to the same school (undergraduate). We met in 2007 so this year marks our 10th year of our friendship. Right after school, we took a total different part. And fast forward 10 years, our lives are totally far apart based on the priority that we set on our lives.

Let's highlight a few things about him. My friend is super charming and super friendly - like the guy that you would actually want to hang out with. He likes to party and enjoy a good time. He works for the UN and part time professional photographer. He travel more countries than I did and probably bang more chicks than I did as well. He is also an extremely social person.

The only challenge that he has is he has absolutely no ambition and no consistency to get things done. Every time I see him, he always have an idea of a new business but never follow though. He tried going to graduate school to re-brand but dropped out without finishing the program. He tried going into management consulting, which I helped him with technical interviews and introduced him to the right hiring managers - but he never took that seriously either.

On the other hand, right after college, I did BO/MO roles at several BBs (started as an intern). Finished my graduate program. Did IBD internships. Re-branded myself. Did consulting for a startup. Moved into investment banking. Launched my own firm - failed - moved on. Did corporate strategy for a major bank in Asia. Moved into a family office. Launched my initiative affiliated with the family and now working as an operating executive as well as a IBD VP - coverage group. Looking to get promoted to SVP before the end of this year. A few of my clients had asked me to take CEO/COO/CFO roles. A few regional funds had asked me to manage their Asia-focused funds (i.e TPG, KKR).

And my friend is still working in the low paid job at the UN, still banging chicks and having a mid-life crisis on what he has been doing for the last decade. He works for UN but it is not as fulfilling as many people would think.

In the end, what I am trying to say is that everyone has to put in the hours and grind through life to get what they want in life. There is no cure all solutions. Everything is equivalent of exchange - you reap what you sow.

So stop looking for meaning in life and fucking get on with this.

 

want = usually it is a mixed of making money, staying healthy, and having good relationship with friends and family

we can spend days and days debating what constitute a good life but in the end it all comes down to three that i mentioned above. here is a study being done to support my point:

https://www.weforum.org/agenda/2017/02/what-makes-young-people-happy-an…

happiness

meaning = there is no meaning in life

 

I agree with you but just want to nuance the UN point. I have multiple friends who work/have worked there and it is really not glamorous. On top of rarely having the impact you expect joining such an organization, the pay is horrendous, opportunities at junior level are rare at best, and the culture is cut-throat and very political. From what I have heard, it tends to be a frustrating and disillusioning experience for those who have studied international affairs and similar fields.

 

That was exactly my point. My friends at UN and various NGOs complain the same thing - they lie to young people that what their job can help our world to make a better place (and for that you should be willing to accept a low salary). One of my mentee was tricked into that and had to work in UN for 6 years before he applied for Yale MBA and moved to a corporate finance program at a regional bank.

On the other hand, I have a bunch of Malaysian friends who went to UC Berkeley > went and did IBD at BB > felt very sick and tired of banking that they are applying to get into UN and other NGOs > thinking that such jobs will give meaning to their lives.

Net net, I have seen both sides o the coins > and getting paid very low salary while not teaching you transferable skills especially at the beginning of your career is > essential sabotaging your future career growth potentials. In the end, a job is a job > office politics will always be there > I have worked at various firms/ departments/ functions > office politics will always be there > the more money you make > the more you will have to deal with it.

 

Yeah, I think people who work in IB (at least the majority) understand the nature of the job and the opportunities it offers going forward. It's why the analyst position are mainly consisted of young 20 and mid-20 years old.

Just my personal opinion here, all have to sacrifice or go through some tough times to enjoy the good, so fuck getting fulfilled in your early 20s, it's not the time. I'd rather enjoy my life later than suffer.

Also, just putting thing in perspective, IB jobs aren't the toughest jobs in the world. There are much shittier job - no disrespect, but I'd fuck hate my life if I were to work in coal mines for instance (I think you would too) and getting paid for nothing.

So just suck it up. IB jobs are pretty good and if the job also interests you somewhat, then you're fucking golden.

 

If you do work in DCM then you get a solid 7/8 hours sleep with weekends to look forward. I do wonder if you would say the same if you work in, say, M&A or TMT. There is a huge difference between DCM (v. little weekend work and leave at 10pm ish during weekdays) and M&A (regular weekend work and regular 1am to late finishes during weekdays).

It is a completely different area.

 

I work in Lev Fin so I know what I'm talking about here. Yeah, I agree. If I were to work in investment grade, then yes, lots of free time and good weekends to look forward to. However, my area is exactly the same area you've alluded to, if not busier especially in this interest rate rising environment. We've just had one of our busiest quarters since 2011.

 

I'll actually differ with most of the crowd here on some points, but a lot of great points have been made.

On expectations: absolutely you shouldn't expect your job to provide meaning in your life compared to leisure, hobbies, friends, family, etc., but I think having an expectation that your time at work is a source of some happiness is reasonable. On some level, we all believe part of the interview BS about the steep learning curve, situations needing to be tackled on a case-by-case basis, learning about business strategy, etc, and a lot of the lack of fulfillment occurs when those factors fade more quickly or never come up like we thought they would. IB isn't trash compacting, and even the "hardest" individual who expects to put in the mechanical work and exit would probably still expect some level of cool / intellectual challenges.

Therefore, I think it's not just that the hours are long, but that they are often monotonous past a certain point. Processes blend together, logos get moved, datarooms are managed, but the idea that there's incremental dopamine hits throughout as you learn more every day about valuation or business strategy or how deals are won just doesn't pan out in the vast majority of IB roles that are out there. That's what I think causes the "fulfillment" / "happiness" gap--analysts and associates are challenged as much as they thought or slightly more on the mechanical side of things (hours, process-running, etc.) but significantly less on the mind-expanding side.

Of course, there are other factors that can make or break an experience: culture (intra-class / personality-based and facetime / senior-facing), sheer volume of work, access to senior people,, pitch vs. deal, inclusion in process, exit prospects, staffing, etc. that intersect somewhat with each other and the above, but I've tried to highlight the nature of the malaise I see most often.

 
International Pymp:

Interesting because I was just pondering this question now as I take a break from my 15 hour work day on this fine saturday. I'm PRETTY happy. But it ain't perfect. Sometimes I wonder what it would be like to have a "normal" job.

Probably not as happy. Getting off at 4:30 p.m. , hitting the driving range and eating at Applebees with friends would seem pretty boring after a while.

 
AsianMonky:

Again, nothing wrong with eating at Applebees, or coming home at 6pm. I'm just saying from my experience, people with "amazing" work/life balance doesn't seem all that happy. For many Type - A people on this forum, working a little more and then having more to spend on their night outs might make them happier.

Do the IBD analysts you know seem all that happy? If the answer is "no" (which it inevitably always is), then your premise is false - work life balance DOES matter, and even those going into IBD don't do so with the intention that they will be working 100 hours a week for a lifetime.

What that balance means to different people is obviously different, but what matters is that to some extent, your hours do matter.

Edit: rereading into your response, i might be misinterpreting it. My point still stands though - most IBD analysts are not as happy as they could (should?) be.

 

Here is a thought, most of your "happiness" doesn't come from work, it comes from where you are as a person and the things outside of work. Work is still "work" even if it's a job in an industry you find interesting. But if you are happy with yourself, have a good outlook on life, and genuinely have other healthy things going for you then you will be happy regardless of your 40 hour a week job or 70 hour a week job.

Though, obviously, that's easier said than done.

 

Yea I am super happy man - popping bottles at the club last night, 3 models back at my place right now. I am currently snorting some dope in a $500 bill because I can. I totalled by lamborghini two days ago (can't even spell it cause i don't give a damn); now rediscovering the joys of driving my aston. OH and the prestige! I go to the club and when people know I am a banker they start buying me drinks and treating me like a king. So I guess I got it all so I am super happy... Thank goodness for banking!!!!

You'll be happy in any job if you have a stable personal life; sure M&A and corporate might be hard on you for the first couple of years, but it's not the end of the world... My dad used to code for 3 days straight with no break as a software engineer and still does because he loves it, any work can be hard, and not just banking.

You'll always have some ass hole on the floor telling you how rich he is, and then you see him staying at work because he hates his wife so much. Happiness is not linked to a particular job. The janitor in my school used to be high as a kite every day, and he was super happy all the time. If spreadsheets turn you on (and they can) you'll be the happiest man on earth. I get a semi when I see a potential trade - it's what get you excited that matters, and that's why you do an INTERNSHIP to find out about the job before joining!

 

Haha...a semi...great term...the ole Tim Henman we used to say -- unexpected semi!

I am a lot less happy than I was in college despite running my own fund and making a lot more money than I ever thought I would. But college is a bubble I guess. On the buyside I think a lot of it depends on how well you can handle pressure and stress, which I need to get better at. I also would much rather live in a non NYC environment, but that can't be helped at the moment.

With that said, I'm making progress towards my goals and I think if I can tough it out for a few years I'll be in a really good place. I also have a great lady in my life, great family and friends (though I never see those friends these days) so I know that even if I lose everything professionally, I'll still be a really lucky guy.

 

To be honest, I find my mood goes up and down (higher crests and lower troughs) more in banking than my previous profession. When I get a 6 figure bonus check it feels pretty damn good to know I'm making the kind of financial headway many people take 30 years to achieve. But when you go 3 weeks straight of absolute hell with work (i.e. earnings, a deal, whatever) it really can put you in a dark place. I still have to check myself sometimes and make sure I get out a bit and enjoy a good laugh during those tough work weeks. However, even in my previous profession which was more stable and paid low 6 figs, I was always yearning for more and I really have found what I enjoy by applying my industry background to finance.

The good thing is if you make enough money and you still have your youth, your options can open up dramatically when you are 40 and you may want to take a different route. that is certainly happiness in my opinion.

 

it fluctuates. Sometimes I get down on it for a while, but the vast majority of the time I'm happy I'm doing what I'm doing. I can't really say why on these boards, because it's just not an appropriate thing to say. Which usually doesn't stop me... but I haven't started drinking yet.

 

Am I happy? Tough to say ... on a consistent basis, probably not. I work at a shop where we get paid well, hours not too bad, and deal flow is good so on the spectrum of grindshop to cushy life, MS Tech vets would call us pansies. But even so, I'd say that most our analysts question the bs of dealing with dumbass requests and giving up much of your early 20s to banking.

I think its consistent to say that some have the fortitude to be happy / or just more or less content with the job but for most, its more of a rollercoaster experience. Some days are good and you enjoy the money / prestige / magnitude / interesting aspects of the job or whatever drove you there in the first place. But its just as easy to get buried in the minutia and daily grind and hate it.

And hence people leave. To VC, PE, industry, wherever. I hate to say it, but at the end of the day its always a personal question of whether the grass is greener somewhere else or if its just fertilized with bullshit. One way or another you give up one thing for something else, its just a matter of how you weigh the pros / cons.

 

Here are my 2 cents on the topic (one to which I've given some thought recently, coincidentally). As background, I started at MBB after undergrad and now work at a MM PE firm.

I'm surprisingly happy on a daily basis because the majority of the work is interesting and the proportion generally increases with hours (far along in diligence on a deal, for example). The challenge for me is more that I make short-term sacrifices (making it to the gym, keeping up with non-finance friends and unrelated hobbies) that seem worth it on a day-to-day basis but are not worthwhile over a long period. I am having fun but also pretty constantly aware that this is not a lifestyle I'd like to maintain. The jury is out on whether I work on time management / creating more boundaries around the current job or look for something in line with some of the discussion above after a couple of years.

To add to the discussion on non-finance roles with good lifestyles, a lot of corporate roles that recruit from finance and consulting have a good work-life balance, decent comp, and good colleagues. Corp strat seems to get more love than corp dev from my friends, but I also have more consulting friends.

 

Happy.

Only complaint is my job is so not challenging enough. But waltzing in around 9:30 and then leaving a second after 5 with a long ass lunch while my boss/team think I'm so great... has its advantages.

I would rather be working hard though and being challenged at this stage in my life, at least I think so..

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
Prospect022:

For those that are already working within the finance industry, are you happy? Plenty of money, respect and prestige comes with these positions, but happiness? I'm presently a student but I figured that this would be very insightful for myself and other's whom are aspiring financial professionals.

What the fuck is up with kids being taught that they should expect to be happy all the time like it's the default emotion? The answer to your question is no. The answer to your question SHOULD be no though. Are we happy? Probably not. Do we get happy sometimes? Sure. Should you expect to be happy all the time? Fuck no. Money, respect, and prestige definitely wouldn't be the things that make that happen anyway. You're only happy when you're not thinking about your happiness... AKA when you're busy doing something you like. So less time evaluating your happiness and more time doing shit is a recipe for success.

I hate victims who respect their executioners
 
BlackHat:
What the fuck is up with kids being taught that they should expect to be happy all the time like it's the default emotion? The answer to your question is no. The answer to your question SHOULD be no though. Are we happy? Probably not. Do we get happy sometimes? Sure. Should you expect to be happy all the time? Fuck no.
Agreed. What's funny is that the most realistic answer is the one most commonly given in passing.

1: How are you? 2: I'm fine.

Not great. Not happy. Not terrible. Just fine. That's the normal state for most people who aren't starving or being tortured.

 

when i put things in perspective / practice mindfulness - yes. when i get upset over small petty shit - no. getting a lot better at focusing on the former and avoiding the latter

edit - happiness comes more in moments. being positive is something you can hope to strive for throughout your days, rather than constant happiness (impossible)

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I think the only way you can answer this question is seconds before your death. Until then, take a risk and see where it may lead you. Life is like the stock market, there's gonna be ups and downs. But try to enjoy every second of it even if its difficult because one day you may not have that opportunity again. Be grateful you're not in a cave mining for blood diamonds or hoping that you'll have enough food to last you for the day.

 

Maybe to a small extent, but not much...this perception of bankers as depressed zombies who are slaves to their work is simply false. Most bankers I know either enjoy what they do or have made the decision to accept the lifestyle that is required because they want the money/prestige associated with banking. I'm talking about bankers above the junior level, of course - at the analyst/associate level there are a decent number of people who are miserable, but they do not stay in the industry for long...and it's far from a majority of analysts/associates in this group.

 
nebanker:
Maybe to a small extent, but not much...this perception of bankers as depressed zombies who are slaves to their work is simply false. Most bankers I know either enjoy what they do or have made the decision to accept the lifestyle that is required because they want the money/prestige associated with banking. I'm talking about bankers above the junior level, of course - at the analyst/associate level there are a decent number of people who are miserable, but they do not stay in the industry for long...and it's far from a majority of analysts/associates in this group.

This is probably pretty accurate. People that in banking, generally type-A, know that it takes hard work to get ahead and are smart enough to know what they want out of life, not just what they want out of this year. This allows them to deal with the long hours or the menial tasks and to focus on the brighter futures that usually shine around their exit opps.

I know law students and lawyers and I know med students and doctors. Most of them aren't incredibly happy. The ones who are find joy in what they do everyday (doctors helping sick people), or if they are more materialistic (lol, criminal defense lawyers), find joy in their houses/boats/vacations/cars they can afford because of their job.

It boils down to sacrifice. What and when do you want to sacrifice? Unless you are from an extremely wealthy family and have connections at the top, everyone has to make some sacrifices.

Good luck

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

interesting... i was just curious because ive heard/ and seen people want to become doctors, and once they become doctors, they were not as happy as they thought they would be. i figured it might be the same situation for ibanking.

 
captainbhangra:
interesting... i was just curious because ive heard/ and seen people want to become doctors, and once they become doctors, they were not as happy as they thought they would be. i figured it might be the same situation for ibanking.

The people that you find that are really happy have started their own business or are golf/ski/surf etc instructors and don't make that much money. I know a lot of med students and there isn't a single moment that I am around them that they aren't complaining about school and studying and long hours at the hospital, but they see the light at the end of the tunnel and they like that they will be helping people and working a good amount of hours but being justly compensated for it. I also know a couple doctors and they all say they enjoy their careers, but these folks tend to be the type of people who get joy from helping folks and aren't generally motivated only by money, but I'm sure that nice paycheck adds a bit of comfort when you pager is beeping at 3:30 in the morning for the fourth night in a row.

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

I don't know how much sense this makes, or even if it makes me seem like a douchebag, but my main goal is to climb the social ladder. To be clear, I just want my kids to be able to get an ivy league education and actually appreciate what it's worth.

I'd get a BMW because they're actually quality vehicles, a bigass condo in the middle of a city because that's how I'd like to live and can't stand suburbs, and live like regular people, even if I'm a trillionaire or some shit.

Last thing i ever want to have are "rich people problems," ie: my daughter hates me because she won't be on 'My Super Sweet 16', etc.

in it 2 win it
 
FSC:
I don't know how much sense this makes, or even if it makes me seem like a douchebag, but my main goal is to climb the social ladder. To be clear, I just want my kids to be able to get an ivy league education and actually appreciate what it's worth.

I'd get a BMW because they're actually quality vehicles, a bigass condo in the middle of a city because that's how I'd like to live and can't stand suburbs, and live like regular people, even if I'm a trillionaire or some shit.

Last thing i ever want to have are "rich people problems," ie: my daughter hates me because she won't be on 'My Super Sweet 16', etc.

No not a douchy comment at all. I respect that. Hopefully we both have condos one day.

 

^^^I agree about the Super Sweet 16 thing. You better believe I'm not raising any punk, spoiled bitches of children.

And this type of question has been beaten to hell and back (usually topic name is something like "what's your number). But for shits and giggles... I don't really have one, except I'd like to be making six figures, which I think is a pretty good starting point.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

This is a very interesting question that has been debated for quite some time. I read an article (can't remember where, WSJ maybe?) that cited a study saying that 70k is enough for most individuals to be happy and anything beyond that does not actually add much happiness.

Of course, there is always the issue of being richer than those around you. In fact, most people would rather make 70k per year if everybody around them was making 30k per year, than make 100k per year if everybody around them was making 200k per year.

 
wallstoccupier96:
Of course, there is always the issue of being richer than those around you. In fact, most people would rather make 70k per year if everybody around them was making 30k per year, than make 100k per year if everybody around them was making 200k per year.

Nice behaivoral finance plug. What you said is very true. I saw a video on Ted TV about the psychology of billionaires and multi-millionaires. Anyway, the 100M net worth individuals didn't feel rich/satisfied because they socialized with other people who were worth 500M or a billion.

The ultimate question is how much money do you really need to be happy? The satisfaction derived from money has diminishing returns so it's critical to find that balance before you sacrifice happiness for the pursuit of more money. There are studies on happiness and having money and while there exists a positive relationship it isn't linear. Some of the world's happiest people make fractions of an average American's income. There are other variables such as family and being healthy.

Wealth is relative. A middle-class American today has a higher overall standard of living than a French monarch did three centuries ago. Don't take simple inventions such as indoor plumbing, A/C, automobiles, airplanes or advances in fields of medicine, education, etc. for granted

 

I grew up hating that I was poorer than those around me, and promised that I would make sure my future kids have every opportunity.

Say what you will, but attending a Exeter-type school really does give you a different perspective and network for life. I realize those graduates will always have a different outlook than myself, even if we eventually have the same net worth. They had an entirely different set of formative experiences than myself, and I want my children to develop that outlook.

While I want my kids to work hard, I don't want them to struggle to the same extent I did. I want them to have the childhood I would have wanted for myself. If I can afford that, I have enough.

 
West Coast rainmaker:
I grew up hating that I was poorer than those around me, and promised that I would make sure my future kids have every opportunity.

Say what you will, but attending a Exeter-type school really does give you a different perspective and network for life. I realize those graduates will always have a different outlook than myself, even if we eventually have the same net worth. They had an entirely different set of formative experiences than myself, and I want my children to develop that outlook.

While I want my kids to work hard, I don't want them to struggle to the same extent I did. I want them to have the childhood I would have wanted for myself. If I can afford that, I have enough.

if you came out of childhood thinking like this, it was still a good childhood.

 

What kind of outlook do you think those Exeter type kids will have? And how do you think it would be better than the one that you have?

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
 
scottj19x89:
What kind of outlook do you think those Exeter type kids will have? And how do you think it would be better than the one that you have?

I have always sensed that they have a more global perspective, and can almost see outside their own success...noblesse oblige is probably the most succinct way to phrase it, yet still doesn't quite capture the mindset.

I guess it is a sense of "place", both within the elite and within the world. The difference between being a freshman and a senior at college.

I used to think I only differed from them in terms of how wealthy our parents were, but one's upbringing does tend to persist. I think Mike Mayo did a great job in his last book discussing how he retained some of his working class values, despite having "made it" by all accounts.

Of course, if I had been born wealthy, I could have easily found myself in the Occupy Wall Street crowd, protesting my own parents. Having to work for success made me respect it all the more. It's rare to find somebody born into wealth who still respects success...I hope I raise my kids to have that mindset.

 

Quite ironic. I'm guessing that most of the responses here will be along the lines of "100 - 150k, providing not NYC cost of living, would be more than enough".

Yet, here we are on a Wall Street forum where most people would kill for the opportunity to screw around on Excel for 100+ hours a week at GS (in the prime years of their life). This forum is home to freshmen and even high school students wanting to spend their summers working UNPAID at some finance firm.

Don't tell me the monkeys here merely want a family home with a top 5% income and a vacation or two a year. They want UBS PWM internships as freshmen, MM internships as sophomore's, GS in their junior year, GS TMT after graduation, KKR two years later, and two years later again HBS, and eventually an executive or partner role in some HF/PE firm. Does this reflect the idea that "100 - 150k, providing not NYC cost of living, would be more than enough"?

I know some of you monkeys already earn 400k + a year, and can honestly say that if you only earned 150k in a slightly lower cost of living city, you would be equally as happy or even more so. But that's all in hindsight. It's much easier to say "the view isn't worth the climb" sitting at the top of the mountain than at the bottom.

I want to see someone on here legitimately turn down a higher paying/more "exit ops" front office job for a more comfortable, secure, and "family orientated" lower paying middle/back office job (or something else in a less lucrative industry). Until then I'm calling bullshit on the general "100 - 150k, providing not NYC cost of living, would be more than enough" view.

 
rpcas:
Quite ironic. I'm guessing that most of the responses here will be along the lines of "100 - 150k, providing not NYC cost of living, would be more than enough".

Yet, here we are on a Wall Street forum where most people would kill for the opportunity to screw around on Excel for 100+ hours a week at GS (in the prime years of their life). This forum is home to freshmen and even high school students wanting to spend their summers working UNPAID at some finance firm.

Don't tell me the monkeys here merely want a family home with a top 5% income and a vacation or two a year. They want UBS PWM internships as freshmen, MM internships as sophomore's, GS in their junior year, GS TMT after graduation, KKR two years later, and two years later again HBS, and eventually an executive or partner role in some HF/PE firm. Does this reflect the idea that "100 - 150k, providing not NYC cost of living, would be more than enough"?

I know some of you monkeys already earn 400k + a year, and can honestly say that if you only earned 150k in a slightly lower cost of living city, you would be equally as happy or even more so. But that's all in hindsight. It's much easier to say "the view isn't worth the climb" sitting at the top of the mountain than at the bottom.

I want to see someone on here legitimately turn down a higher paying/more "exit ops" front office job for a more comfortable, secure, and "family orientated" lower paying middle/back office job (or something else in a less lucrative industry). Until then I'm calling bullshit on the general "100 - 150k, providing not NYC cost of living, would be more than enough" view.

The key to the question is what is the minimum, I take that to mean the lowest possible levels. Ideally I would be wanting to make 10s if not 100s of millions of dollars a year. But if I had to pick a minimum it would be in the 100 to 150 range.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 
rpcas:
I want to see someone on here legitimately turn down a higher paying/more "exit ops" front office job for a more comfortable, secure, and "family orientated" lower paying middle/back office job (or something else in a less lucrative industry). Until then I'm calling bullshit on the general "100 - 150k, providing not NYC cost of living, would be more than enough" view.

I'm a junior at a target school. I interned in equity research at a BB this summer, and did not apply for internal mobility to investment banking even though the success rate is very high. I have no intention of sacrificing my 20s working 80+ hr weeks. I'm still considering my offer, consulting, and policy-type work. Then again, I'm female.

My dad works in upper management outside of finance and my mom quit her job when I was young. We were relatively "poor" when I was little, because we lived in NYC while my mom was in grad school and my dad was entry-level, but we now have a pretty comfortable lifestyle. I have no clue what my dad makes, but I want my future household to have a similar income/standard of living so that my children can have the opportunities that I've had.

 
rpcas:
I want to see someone on here legitimately turn down a higher paying/more "exit ops" front office job for a more comfortable, secure, and "family orientated" lower paying middle/back office job (or something else in a less lucrative industry). Until then I'm calling bullshit on the general "100 - 150k, providing not NYC cost of living, would be more than enough" view.

Here's an example. I live in a low cost of living city in the Southeast. I make slightly above $100k as an equity analyst on the buy side for something like a trust bank service firm. My work hours are 45 per week, 55 in earnings season. I turned down a job offer for a lead analyst position on the sell side that starts $180k w/ unlimited bonus potential. I was not going to move up to the Northeast in a high cost of living area, working 55~70 hrs week + 50% travel (and the sector of coverage requires the analyst to travel to some shitty locations).

In my case, I love my life. 7 hrs of sleep every night, never working weekends, dinners w/ family and friends, date night with the wife, multiple long weekend getaways (non-international). I wouldn't trade this for anything.

 

^ let me give you some perspective about this. one of my closest friends is from a dirt poor background. parents had no more thatn 5K liquid at any given time -- we're talking real dirt poor. however, with smarts and solicitous parents this kid went to a top non-NE prep school in the same league as groton or st. paul's or, as you say, exeter.

out of a graduating class of 50 only 2 made it to Y and P. the rest went to some real backwaters -- expensive backwaters -- but mainly playgrounds for other rich underachievers. think rollins college, etc.

not going to exeter might not have cost you as much as you think.

 
ivoteforthatguy:

out of a graduating class of 50 only 2 made it to Y and P. the rest went to some real backwaters -- expensive backwaters -- but mainly playgrounds for other rich underachievers. think rollins college, etc.

I always wonder how rich underachievers decide to all go to x school....

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 
ivoteforthatguy:
^ let me give you some perspective about this. one of my closest friends is from a dirt poor background. parents had no more thatn 5K liquid at any given time -- we're talking real dirt poor. however, with smarts and solicitous parents this kid went to a top non-NE prep school in the same league as groton or st. paul's or, as you say, exeter.

out of a graduating class of 50 only 2 made it to Y and P. the rest went to some real backwaters -- expensive backwaters -- but mainly playgrounds for other rich underachievers. think rollins college, etc.

not going to exeter might not have cost you as much as you think.

Don't write off the benefits of going to an Exeter / Andover / St. Paul's / Choate. Two of my roommates attended those schools, and the network is absolutely ridiculous. It's one of those things that, like a college, is a long-term investment (and the focus isn't on education, but soft skills, character development, maturity, the network, etc).

 
ivoteforthatguy:
^ let me give you some perspective about this. one of my closest friends is from a dirt poor background. parents had no more thatn 5K liquid at any given time -- we're talking real dirt poor. however, with smarts and solicitous parents this kid went to a top non-NE prep school in the same league as groton or st. paul's or, as you say, exeter.

out of a graduating class of 50 only 2 made it to Y and P. the rest went to some real backwaters -- expensive backwaters -- but mainly playgrounds for other rich underachievers. think rollins college, etc.

not going to exeter might not have cost you as much as you think.

The key there is non-NE prep school. The rest of the country isn't as prestige-obsessed as the NE. Still 4% of the class to Y and P is impressive in my opinion.

MM IB -> Corporate Development -> Strategic Finance
 

Yea man 400-600k a year ( would be my dream, nice loft, nice gf, nice kids, nice friends, nice cars (BMW's , Porche SUV isnt too expensive), or subway if live in NYC, but AM funds are mostly in Boston/CT area so I dont know. nice job security (PM for a AM firm or pension fund, I love the hedge fund world, but if I ever have kids It would be slightly too risky for me. Haha might work for the CIA after some years).

honestly if you guys are happy with making 100,150k living a nice life go to corp development , where if you are good, you can make 300k. Why be on Wall Street (I guess corp dev requires banking experience for F500, but leadership programs are as good)?

I want a lady on the street, but a freak in the bed, Go Bucks!!
 

A rusty Honda, a home that's walking distance from Lake Michigan- ideally with a few acres and red oak trees (I am a tree snob- no white oaks or swamp oaks will do, and def. no silverleaf maples on my property.). Cornbread and cheaper vegetables, maybe some occasional KFC or Culvers, the cheapest US-made clothing available, a 24oz can of PBR, 120 kwh of electricity a month, and enough wood to keep my home heated to 63 in the winter. Oh, and a gas lawnmower. I've tried cutting by hand before and that's a lot of work.

 
IlliniProgrammer:
A rusty Honda, a home that's walking distance from Lake Michigan- ideally with a few acres and red oak trees (I am a tree snob- no white oaks or swamp oaks will do, and def. no silverleaf maples on my property.). Cornbread and cheaper vegetables, maybe some occasional KFC or Culvers, the cheapest US-made clothing available, a 24oz can of PBR, 120 kwh of electricity a month, and enough wood to keep my home heated to 63 in the winter. Oh, and a gas lawnmower. I've tried cutting by hand before and that's a lot of work.

This plus a multi-million dollar portfolio that I always add to.

 
IlliniProgrammer:
Can someone please explain to me why a network is so important? You go to school to build competence and that's what makes you money.

Network helps with opportunities. However, ironically, if you are at Ivy League school where a simple resume drop gets you into GS, it is not that critical as for some state school with limited networking opportunities and standard resume drop to McDonalds corporate. That's in short term.

In long term, you will be able to more efficiently communicate with people at the top companies/banks just because you studied with them vs being a total stranger.

 

I read a report that most American's begin to see happiness around a salary of 75k.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
 

The 70k report was misleading in that it put a quantitative number on what was really a qualitative feature. In other words, "70k" really meant, a nice house they could easily afford, reliable mid-range cars in the driveway, and enough left over to go on a vacation, go out to eat when you want, and buy a few toys.

For myself, that number was considerably higher, mostly because of higher housing costs. In fact, I would say that 70k did indeed get me everything I wanted out of life aside from a decent place to live.

 
Say what you will, but attending a Exeter-type school really does give you a different perspective and network for life. I realize those graduates will always have a different outlook than myself, even if we eventually have the same net worth. They had an entirely different set of formative experiences than myself, and I want my children to develop that outlook.

While I want my kids to work hard, I don't want them to struggle to the same extent I did. I want them to have the childhood I would have wanted for myself. If I can afford that, I have enough.

What's to say your childhood is better or worse for having gone to Exeter? I went to public schools my whole life, grew up in the Evangelical Church, and the grounding was worth more than anything to me. It taught me what's really important in life.

Yes, going to Exeter gives you an international perspective. But going to a public school in a small town gives you a sense of how life should be, and lets you see what's still good and right about the world. I think there's advantages and disadvantages to both, but going to a public school and growing up in a middle-class family probably left you a lot more grounded than it otherwise would.

My kids will be going to public schools and then attending public ivies (ideally in-state, otherwise I will pay out-of-state for Berkeley, UVA, Georgia Tech, UIUC, Wisconsin, or Michigan). They need to learn a set of values that Exeter and Princeton cannot teach. And after working for a few years, they can pay for their own grad school at one of the top tier schools if they still want to. When you look at what really matters in life, the values are a lot more important than the prestige/"networking", and reputation/income just tends to track towards competence and knowledge anyways. CC: VaTechForever.

 

A sailboat, girlfriend who likes sailing, a compass & chart, and enough money for entry/custom fees in foreign ports...

As of 11-11-11, I am living this dream...

My view of the world has changed over the last 50 years...what I've "experienced" has trumped what I "have" every time. Monkeys, don't forget to look beyond just "stuff".

Time to start formulating my next adventure!!

A good friend will come and bail you out of jail...but a true friend will be sitting next to you saying, "Damn...that was fun!"
 
LetsGoSailing:
A sailboat, girlfriend who likes sailing, a compass & chart, and enough money for entry/custom fees in foreign ports...

As of 11-11-11, I am living this dream...

My view of the world has changed over the last 50 years...what I've "experienced" has trumped what I "have" every time. Monkeys, don't forget to look beyond just "stuff".

Time to start formulating my next adventure!!

And what's your story?

 

As for me, ideally:

  • loving family
  • no illnesses
  • nice house
  • good public schools with the ability to send my kids to private if it's the best decision for everyone
  • growing accounts
  • ability to go on one or two vacations a year
  • some form of influence at either my HS or undergrad university
  • fully funded college accounts for my children - I think merit scholarships are great but I don't want to have to force my kids to go in-state or chase scholarships. If they want to do that, fine with me. But if they want to go to Vanderbilt or Northwestern or Berkeley OOS, I want to be able to pay for it.
  • waking up in the morning happy that I am going to work
  • a challenging, interesting job where I enjoy my coworkers and don't waste away

If I have this, I will be more than happy. I guess this isn't my minimum, but this is my happy. I've had great opportunities because of my parents and I want to be able to provide the same for my children. I think that Wall Street is a great place to start a career and the most risk-averse way to ensure financial success later in life, but I have no interest in being on the Street long-term (if at all - I'm not at all opposed to starting in Houston, DC, Charlotte, or Atlanta). Would I love to make it rain? Yes, but I am definitely willing to sacrifice money for some happiness past the age of 26 or 27.

MM IB -> Corporate Development -> Strategic Finance
 

As for me, ideally:

  • loving family
  • no illnesses
  • nice house
  • good public schools with the ability to send my kids to private if it's the best decision for everyone
  • growing accounts
  • ability to go on one or two vacations a year
  • some form of influence at either my HS or undergrad university
  • fully funded college accounts for my children - I think merit scholarships are great but I don't want to have to force my kids to go in-state or chase scholarships. If they want to do that, fine with me. But if they want to go to Vanderbilt or Northwestern or Berkeley OOS, I want to be able to pay for it.
  • waking up in the morning happy that I am going to work
  • a challenging, interesting job where I enjoy my coworkers and don't waste away

If I have this, I will be more than happy. I guess this isn't my minimum, but this is my happy. I've had great opportunities because of my parents and I want to be able to provide the same for my children. I think that Wall Street is a great place to start a career and the most risk-averse way to ensure financial success later in life, but I have no interest in being on the Street long-term (if at all - I'm not at all opposed to starting in Houston, DC, Charlotte, or Atlanta). Would I love to make it rain? Yes, but I am definitely willing to sacrifice money for some happiness past the age of 26 or 27.

MM IB -> Corporate Development -> Strategic Finance
 

To the person who called BS on anyone here leaving a high paying front office job to something with a much better work life balance, I'm one such example.

I traded a 200K + income (that came with heavy traveling and 70+ hour weeks) knowing that I would make 500K + within 5 - 10 years if I stayed for a very stable 50 hour week middle office job that pays me just around 150K. I'm not sure if you're already in the work force or how much you make, but you'll probably soon realize that 150K is enough to do almost anything within reason. My family and I are very comfortable, and I absolutely love how much time I can spend with them now. I wouldn't trade this time for double the pay (and I didn't, my former employer offered me a whole lot to stay). I don't regret the decision one bit.

 

Luxurious medium sized house with latest gadgets, SMART wife and 2 kids, a few million dollars net worth, cabin/lake place with boat and tubes etc. for the kids, BMW M5 for weekdays, 911 turbo or Ferrari for the weekends. live anywhere north of the 38th parallel. money to retire somewhere nice and blow some of it on stupid shit but also be able to pay for elite education for kids.

2 kids, not 1, maybe 3 if i was really rich. otherwise, no more no less.

 

Enough money to belong to a few clubs, travel with my family, send my kids to good schools, have a nice house with some land, and not have to work too hard later on in life. Maybe a house in the mountains if I get lucky.

Never had a thing for expensive cars and don't need the most expensive toys or anything. For me the biggest luxury would be country club memberships, and maybe a ski cabin.

Hi, Eric Stratton, rush chairman, damn glad to meet you.
 

@scottj19x89: I will just discuss the point about Guitars, since it is really important to me. This is one area for which I wish I had a some money to spend. Right now, as a poor college student I'm using a cheap Jackson Dinky ($200, strings don't stay in tune for too long), a Ibanez amp and a Digitech RP 255 pedal. (I wish I had individual analogue pedals, but the multieffects pedal does its job for now)

What pedal/guitar do you use right now? What's on your wishlist?

If I had money (or when I will have money), this is what my setup would look like: Guitars: Jackson Dinky, ESP MII Rosewood, Fender Strat (22 frets with Flyod Rose), ESP James Hetfield Snakebyte and Jackson Demmelition King V. Amp: Hand wired Marshall Amps Pedals: A full on pedalboard with high performance analogue pedals. And a Digitech RP 500.

Something like this: http://www.effectsbay.com/wp-content/uploads/2009/11/j.mascis-pedal-boa…

 

Wow, I just had everything I have typed up and then my internet shit out. Anyways, I have:

-a Schecter diamond series guitar (don't even remember the name, bought it 5 years ago) -a Mesa Boogie Dual Rectifier amp w/ cab -a Boss Octave and Compressor pedal -a Jimi Hendrix Wah Pedal -an ISP Decimator pedal -a Boss 7 band equalizer and a MXR KFK 11 band equalizer, both pedals -an acoustic Alvarez guitar (cheap but sounds good, my first guitar

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
 

Recent graduate here with a first year a little over $80k in consulting based out of a Midwest office. I would have to agree with the 70-75 figure mentioned earlier, as I'd say as a single guy in a ok-cost-of-living area with no debt that I am content now. Can afford a nice place, a 'nice' slightly used car, cool new electronic toys, and some impulse spending (dinners, tickets, etc) without having to constantly worry. Not to mention also being able to sock away a sizable portion for savings.

Now if I were to start a family, I don't think this would be enough anymore. But as of now: content.

"Buy gas. It's a sure-fire commodity with no risk except for the sure risk of fire." - Stephen Colbert
 
Bidibodi Bidibu:
Recent graduate here with a first year a little over $80k in consulting based out of a Midwest office. I would have to agree with the 70-75 figure mentioned earlier, as I'd say as a single guy in a ok-cost-of-living area with no debt that I am content now. Can afford a nice place, a 'nice' slightly used car, cool new electronic toys, and some impulse spending (dinners, tickets, etc) without having to constantly worry. Not to mention also being able to sock away a sizable portion for savings.

Now if I were to start a family, I don't think this would be enough anymore. But as of now: content.

Yes... keep it simple and be content.

What's the saying that rappers use... "more money, more problems"? There's some truth to it. Also, I think the question depends on expectations of what achieves happiness. If you set the standard with two luxury vacation homes, a 300K car, a penthouse in NYC, etc. then you're setting yourself up for disappoinment.

My goal is to reach a point where I can generate 100k after-taxes a year solely from "safe" bonds and dividends (so ~2.5M at work). Then I can pursue more of a life of leisure and a lot of my hobbies are relatively inexpensive (e.g. reading, skiing, squash, basketball, sailing). I like cars but don't need a 120K Porsche Cayenne Turbo, rather get a 45K Chevy Tahoe... don't need a 400K Lamborghini Aventador and would be satisfied with a 130K Porsche GT3 (2012 RS is 180k though). Instead of a 1.2M ski lodge, get a 600K one. I enjoy traveling and don't need to stay at the $400 a night hotel... rather not spend too much time in the room anyway.

 

Why is it so hard to believe that somebody from this site will turn down more money for a more balanced life-style? Just cause you want to get into finance doesn't mean that you have to want it to be your whole lfie... The only way I'll accept an ib job is if I get interviews without having to apply, I'm not interested in 100 hour work weeks even if the money is that good.

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
 

Assuming I reside in a northeast area like NYC or Boston, I hope by the time I am 40 I am pulling in 250k and saving the majority of my bonuses.

Materially, I would need a house that I feel comfortable in, and the opportunity to take my children on nice vacations abroad. I cannot complain in the slightest about my childhood, so if I could offer a few additional options (e.g private school) that I did not have, I would be really proud.

250k salary, a wife I love, healthy children, a house, and opportunity sounds perfect.

"Whenever you feel like criticizing any one, just remember that all the people in this world haven't had the advantages that you've had." -F. Scott Fitzgerald
 
MPBYO:
$300k after taxes would be nice with a work life balance tipping in favor towards life. A Ferrari F458, Porsche 911 turbo S, Porsche Cayenne S, either a GL550 or QX56 for the wife to haul kids. A custom built McMansion with something like 5000sqf in a nice development on a golf course and a badass backyard pool.

You're insurance/taxes/maintenance yearly will barely be enough to cover that plus you want a wife... lol. You'll need to add a couple zeros to that after tax income.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 
MPBYO:
$300k after taxes would be nice with a work life balance tipping in favor towards life. A Ferrari F458, Porsche 911 turbo S, Porsche Cayenne S, either a GL550 or QX56 for the wife to haul kids. A custom built McMansion with something like 5000sqf in a nice development on a golf course and a badass backyard pool.

$300k is enough for that? I dunno man. And QX56's are gay.

 

I once heard from an alum who is a partner of a 22billion prop trad firm and manage 2 billion in funds daily. "No matter how much money you make, or how big your house, or how great is your car, you spend 1/3 of your life (1/6th if you're in IB) occupying not more than 6' x 6' sleeping area".

I like the comment of what you "experience" and not what you "have". But some toys are cool. And a nicer car is to lure a nicer girl so that you get nicer kids and biologically, it's to ensure a nicer future of your genes. So rock on prestigious NE crowds with their "nicer" things.

 

A good home in a lower-cost mid sized city to have as "home base"

A few nice cars- Ideally a 911GT3 RS, Gallardo, and some kind of AMG, M, or RS car as a daily.

A nice vacation home, probably in Utah or Northern California for skiing

"There are only two opinions in this world: Mine and the wrong one." -Jeremy Clarkson
 

In reality, I don't think i'll ever be happy with what I have. I'll always want more. But i'm already resigned to the likelihood of an upper middle class life in a way too expensive suburb that causes me to essentially live paycheck to paycheck so I can keep up appearances for my fat wife and bratty kids.

 

my father i am guessing is worth a little north of the low 8 figures an by what you decribed id say 10 million liquid an your good but not in new york city where the condo or house you described is going to take 10 or 20 percent of your net worth and really who is happy making 100k a year i got my trust fund t 16 and i m 19 years old now an made 92k at 18 in trading foreign exchange

 
jpatt92:
my father i am guessing is worth a little north of the low 8 figures an by what you decribed id say 10 million liquid an your good but not in new york city where the condo or house you described is going to take 10 or 20 percent of your net worth and really who is happy making 100k a year i got my trust fund t 16 and i m 19 years old now an made 92k at 18 in trading foreign exchange
what the fuck is wrong with you?

As for me, definitely wouldn't want to live in the city. I'd like a nice house in a suburb of a smallish city with a very short commute. This, a good family, and enough money to go on cool vacations once a year would make me happy.

 

To put this in perspective, dad makes about $300k a year, mom doesn't work (had great job but quit when she had kids). We live in a large midwest city. Taxes are nearly 6 figures now, figure $90,000. We live in a ~$400k house with a mortgage (nearing the end of its life). Factor that in, all types of insurance and other expenses, probably a bit above the national cost of living. Now factor in 2 kids, both went to private schools and now attending expensive private colleges, at least $100k a year in education expense. All said and done there is not a ton left over, my dad needs a new car and is trying to figure out how to pay for one.

Education makes a huge difference, my parents (very generously) said they would pay any education expense my sibling and I incurred if we got into the schools of our choice. So that is very expensive. As a single person you can keep your costs low and treat yourself like shit, but when you have a family, you want to spoil them and make them happy, so your costs skyrocket.

^ and totally agree with not living in the city. Fuck NYC or any of that. No place to raise a family. Maybe when you're young but not when you have a family. Dirty, smelly, filled with brown people. Have fun taking the subway next to some black guy talking to himself for an hour of your day, every day. QoL is SO much higher in the suburbs.

If I could get a BB job in NY, move to PE/HF/something else for a while, then leverage that into a high paying F500 role in Chicago/Minneapolis/East cost city suburbs and be making high 6 figures (adjusted for future costs), then I would be happy.

 

haha actually I guess I would be happy with a small apartment with a nice tv, membership to a nice gym, some spending money to hang out with friends, nice friends, be able to run a startup that I think may change the world and thats pretty much it..... I mean wasnt college fun for you guys? Its not like you had millions of dollars in college just a decent lifestyle.....

I want a lady on the street, but a freak in the bed, Go Bucks!!
 

And one that I want to resist giving an easy answer to but will probably end up doing so anyway. :)

In some ways, yes, I am glad I did it. I learned a lot more from this job than I would have from anything else I was considering at the time.

And I look at where my non-banking friends are now, and am very glad I choose this because, believe it or not, there is actually less BS in this job vs. what they're doing, and a lot more learning/exposure to important things.

That said, my life definitely suffered a lot while I did this job and I lost touch with a lot of friends/family. So that part was pretty bad.

Also, since I'm not continuing with banking/finance (well, not exactly... long story), this job was probably not as beneficial for me as it was for others.

In the end I am glad I did it, even though I really, really hated it at times. I decided it wasn't the best long-term plan for me so I'm pursuing something different when I finish up in June, but I do think it's a valuable experience you can't get anywhere else, even if you hate yourself every other day.

In summary: I'm glad I did it. But I'm not glad that I do it. :)

 

I'm starting my own company, but it's somewhere between a real company and an investment firm like a real PE. And we'll invest in much less expensive assets than actual companies... more focused on web/online properties and buying/improving them.

Could fail (will be a fun ride :), but I'm keeping expenses low and the size small until the model is more proven... so that reduces risk greatly. Managing people doesn't really appeal to me, so it will just be myself and a few others, at least at first.

And thanks for the compliment, but I'm really not "the bomb," I'm just an ordinary person on a message board who answers investment-banking related questions.

 

I would disagree with you Dosk. For someone who works as hard as you do to take time out of your day to help the clueless and unemployed for no glory, I would consider you "the bomb."

"I'm not sure what the four 9's do, but the ace, I think, is pretty high."
 

to the op, i really hope you didnt find interviewing that "challenging and emotionally draining" or you are in for a rude awakening.

im in S&T but yeah i think everyone is glad they did it, at the end of the day, you will make more $ than any of your friends and set the background for a prosperous career with limitless upside. no other profession offers that.

 

I actually really enjoyed the interviews. Yeah, they were nerve-racking at times but once I got into the offices to interview, 90% of the people I met in the offices were good guys who I enjoyed talking to. And given how rapid a turnaround in response I got at every place, I was glad to find out so quick and so early in the year compared with a lot of my friends, who are still interviewing for jobs or have had to wait 2-3 weeks after a final interview before knowing if they got an offer.

 
JJ1980:
Just curious. I am a recently minted trader, but I decided to post here given that it's the most popular forum.

You, and anyone else who uses this idiotic logic, are completely retarded.

Why is it the most popular forum? Because people want to talk about banking. What happens when you post a non-banking question in the forum? People don't want to talk about it.

There's a reason separate forums were created in the first place.

 
b2:
JJ1980:
Just curious. I am a recently minted trader, but I decided to post here given that it's the most popular forum.

You, and anyone else who uses this idiotic logic, are completely retarded.

Why is it the most popular forum? Because people want to talk about banking. What happens when you post a non-banking question in the forum? People don't want to talk about it.

There's a reason separate forums were created in the first place.

I think he was referring to wallstreetoasis as a whole and not just this specific forum. It's pretty obvious this section of this site is not the largest.

 

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  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

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From 10 rejections to 1 dream investment banking internship

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