Highest paying entry-level finance jobs
Hello guys!
It's my first post.... a bit about me, Im a college freshman, Saudi citizen (no, im not in college in saudi!). My family is deeply rooted in finance (gramps ran the biggest bank in the middle east for a while), so its only natural that im plying the same trade.
Quickie question...What is the highest paying entry level job in finance? is it really IB? Is there a specific industry group that pays more? not including bonuses, ofcourse.
I really like all aspects of finance, so im not jumping into a specific area just for the money...ok fine, maybe 50% of the reason :D
Yes it's IB. And why would you not include bonuses when most of finance uses them as one of the biggest parts of compensation?
It's actually online poker. Tom Dwan is same age as many IBD analysts but is worth over 30 million.
yeah IBD is nowhere near best paid role. Optiver (prop trading) has 60k euro base in amsterdam which crushes the $70k in US IBD
You can't simply compare US and European salaries like this. 60k Euro was pretty much the standard IBD / Consulting base salary that was offered when I started a few years back. Not sure what kids get now but wouldn't be surprised if it's 10k Euro higher.
Otherwise agree, PE and HF can be somewhat higher, but difficult to get out of uni.
top private equity firms and hedge funds can pay more than IB if you get them out of ugrad, but those jobs are few and far between. if you go to a top target and start working towards them now you'll definitely have a shot
+1 SB.
Regards
If you Grandpa was CEO of the "largest bank in the middle-east" and your family is "deeply-rooted in finance" why don't you ask them?
Im talking about entry-level finance pay in the United States (Im planning for atleast a 6 to 8 year stay there to build a solid foundation before kicking a$$ in the middle east).The arab gulf region is another ball-park. Have you thought of that?
Pay is completely different here, according to many people and gramps himself (he's the type that'll rather tell you hes not sure about something than give you numbers off of his head...he only knows the US pay scale for the upper end :D ). There is less meritocracy, so you're bonus here at BB Gulf banks is 75% reliant on the strength of your relationships... but I heard that change is picking up pace, hopefully for the better.
^ good point
Depends on your skill set. If you are a general finance/econ major, than IB is probably the highest paying, but if you're more of a math/computer science person, than entry-level quant positions at hedge funds often pay more (USD 80K +)
ib is definately not the highest entry level finance role...
*Definitely
nice, thanks my man
college freshmen posting to ask what the "highest paying entry level is"... wow.
there's a problem when you're trying to get a finance job for the sake of being in finance...that's pretty pathetic.
if your "gramps" ran the biggest bank in the middle east maybe you should do something more meaningful with your life.
and if your goal is to be wealthy, the real wealth isn't in handling other peoples money or processing corporate deals...its the clients you work for that pay you lots cuz they would rather not do that boring ass shit with their lives.
If you completely read the post, you'll understand that it'll be 50% of my decision. I don't want to piggy-back on dad and gramps all the time. I don't know if that what you would have done, but I think that would be burdensome and ridiculous.
Im into finance because thats what ive liked since I was a kid. I always thought about how to manage money, how banks work, and how to make even more money.
My goal isn't to be wealthy. Thank god, and without haughtiness, I already am. My family instilled values of integrity and hardwork in me. They get you further in life... as opposed to a bullsh*tting high school sophomore trying to look "swag".
GTFO troll
your family instilled values of integrity and hardwork into you so you can get the highest paying entry level job in finance?
i didn't piggy back on my parents, they didn't work in finance. i just think its stupid that your gramps is supposedly the head of the biggest bank in the middle east, you've "thought about how banks work" ever since you were a kid, and you're asking what the biggest entry-level salary is "excluding bonuses"...what?
p.s. don't say you've liked finance since you were a kid in an interview... we always laugh when kids say that. anyone who has done interviews before knows this. just giving you some advice
"more meaningful with your life." you're the @$$hat that went into something that he believed wasn't meaningful ;)
"your family instilled values of integrity and hardwork into you so you can get the highest paying entry level job in finance?" umm no. If you can read and understand from context, my family values work. They don't support anyone to just lounge around on yachts and travel everywhere. You want something, you work for it. What if I want the highest paying entry level job in finance? What's it to you,jackass?
"i just think its stupid that your gramps is supposedly the head of the biggest bank in the middle east, you've "thought about how banks work" ever since you were a kid, and you're asking what the biggest entry-level salary is "excluding bonuses"...what?"
If you can read, I said he RAN it. as in the past. wow. I didn't know wall street is starting to attract rednecks. For the last time, I want to know because for the sake of knowing. I won't be an actuary just because I get paid better. Unlike you, if I want to know something, I ask, I dont assume. And gramps doesnt know because: A)He left the industry a while ago B)He worked solely in the middle east (I don't think you know where that is. It's where America sucks our genitals to power itself like a crack whore...now you know where the middle east is?). Pay here is completely different.
So basically your grandpa is of the Rajhi family? Largest bank given you are Saudi Arabian is Al Rahji Bank: http://www.gulfbase.com/site/interface/CompanyProfileSummary.aspx?c=78
Chairman: Sulaiman A. Al Rajhi Vice Chairman:
General Manager:
Managing Director:
CEO: Abdullah S. Al Rajhi Board Members: Abdulaziz K. Al Ghafili Abdullah A. Al Rajhi Ali A. Al Shudy Eng. Salah A. Aba Al Khail Mohamed A. Al Rajhi Mohamed A. Al Rajhi Mohamed O. A. Al Bishr Saeed O.K. Al Esayi Sulaiman S. Al-Rajhi
No, he isn't. The biggest bank depends on the literature. Try to look up National Commercial Bank (Al-Ahli).
I don't know why you are so quickly offended, people are asking questions that seem pretty natural given the information YOU gave in the first post. You dont make one mention of any strengths or prefences you may have, just that you come from money, and wants a job that pays the most. In re-reading the thread, everyone seems to be pretty helpful, and even in your first response to a pretty innocent question you come off like an idiot. You sound like a clown. I don't know how you've managed it, but I already don't like you and I've only read a couple of your posts. I hope you aren't this much of an abrasive loser in real life. Good luck networking.
Wait you guys have to actually work? I thought the only job Saudi's had were spreading Whabbism, distasteful panache for modifying cars and the carefree living supported by the oil subsidies.
^On the one hand, your post is disgusting. On the other.... +1SB :)
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