How Much Can You Make in Ops?
I was wondering what the absolute max salary is in Ops (i.e. once you climb the whole ladder), and whether you have to go to a target to get those jobs? I know Ops gets a lot of shit here because (no offense) this board seems to have a lot of type-A ivy league people who seem to think 6 figures is a low salary and that nothing is better than banking.
I am ambitious in that I want to earn well over 6 figures, but I'm not super ambitious in that I want to make millions and am willing to work 100 hour weeks to get there at the expense of health and other hobbies either. So I guess the best way to ask my question is can I eventually make what a 1st or 2nd year I-banker earns (seriously, a first year IBanking salary is my goal in life) in ops? Also, what kind of numbers/ECs would I need to get into ops given that I don't go to Harvard?
3.7 Ivy for ops usually 3.9+ Ivy for banking usually or 4.0 from nontarget 3.95+ Ivy for consulting usually,
max salary of ops is $2 million a year, generally $500 k as associate or $200k as analyst
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You don't have to go to a target to get into ops. And, I could be completely misinformed, but I'm under the impression that has as a SR VP or MD you'll make 200-300K.
Above poster is a troll.
You insinuate that most people on this board are pretentious, yet your user name is a clothing line...
u need definitely 3.7 from Wharton to be in ops. They only hire from Wharton.
Sorry
Am I missing something? You're talking about operations right? Because anyone with a 3.0 GPA at a non target has a chance to interview for the job. You just have to show that you're interested and it's what you want to do. Salary is pretty much in line with any other finance job such as IB. However, the bonus is where they separate ops from everything else.
The bonuses arent as great (6months in a good year?) and the base pay is slightly less than the FO.. I've heard some of the VPs earn about 150k.. so MDs should be about 200k...
How hard is it to get up to VP/MD level in OPs? If you're generally smart and hardworking, is it reasonably attainable, especially since the competition isn't as good, or is it as difficult (relatively speaking) as making MD in FO?
Getting to VP/MD level isn't going to be easy. I know a couple VP in ops and it took them forever to get there. Maybe if you move around to different banks you can advance quicker.
How do you think Ops compares to Corporate Banking in terms of ease of breaking in, potential salary, and exit ops? Is corporate banking possible from non-targets as well?
more like 1.0 gpa = consulting 2.0 gpa = operations 3.0 gpa = risk, capital markets and stuff 4.0 gpa = investment banking
Ops is definitely going to make less in the bonus department compared to IBD, but base salary will be comparable. most IBD analysts will make $90 - $130k+ after bonus, depending on what kind of year it is and the firm. you can make that in base salary at the associate director/VP level in Ops at a major BB bank, plus bonus; MDs can make base of $250k+, depending on experience and responsibility.
it's certainly not easy to reach VP or MD, as with any division, but the MBA/grad degree requirement isn't as strict as in the front office. you might not impress your ivy league i-banking friends, but you can definitely make some paper and still have a life (i.e. not work 90hr plus weeks).
and to get into ops is easier than a front office, but still competitive at top banks. I'd say a 3.3 GPA is probably the cutoff at a good non-target school for BB.
A lot easier to get Op jobs as opposed to corporate banking. However, it's not very prestigious, actually I think it's the least prestigious of all the finance jobs. However, you will have a life (50hr work week) as opposed to the 90+ hour work weeks put in by IBD. In terms of exit opp, you're screwed. You have a chance to move up to MO and maybe FO, but that's a slim possibility.
Ops is way better than retail. That being said, both are pretty inglorious.
Difference between MO and BO if any at all? Considering that some jobs in Ops are now being classified MO..?
The only people that give a shit about whether their position sits in the MO or BO are the ones who are themselves there. No one else really cares, its just something people created (IMO) to stratify the back office and make themselves feel better about their 'less back office' back office job.
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