I cut right to the case: investment banking has made kind of a name for itself when it comes to compensation, a lot of people believe all investment bankers make a lot of money.
I wonder however how much truth there is to that. Since I'm Dutch I would like to make the comparison with Big Law in the Netherlands.
Compensation first year associate Dutch Big Law: 48.000 euros which currently is like 52.000 dollars.
Compensation first year analyst London investment banking: 50.000 pounds which currently is like 74.000 dollars.
That's a 24.000 dollar a year difference but you have to keep in mind that London is one of the most expensive cities in the world.
Judging from the above information, isn't it fair to say that the stores about compensation in investment banking are at least a bit exaggerated?