Started at a good NYC bank a couple of years back, my trajectory has been this:
Graduate Analyst: $75k base, $8k sign-on, $18k bonus (stub, had only done a few months)
1st Year Analyst: $80k base, $105k bonus (top end)
2nd Year Analyst: $94k base, $310k bonus (top end again)
1st Year Associate: $120k base
I got my $310k bonus and promotion 2 weeks ago.
What is really getting to me is that nobody has any idea I am doing this well. When I have meetups with other Princeton grads who are doing philantrophy, teaching, law school etc, they all assume I work crazy 100 hour weeks for still a crummy $75-80k base and nothing more. Last week I mentioned to someone that I got my bonus and they said "Nice, you must have got $20k or something incredible like that" !!! Similarly I said I am going to buy a $800k apartment now and someone said "Wow so the bank are giving you a 10x leveraged mortgage??" No dumbass, 100% base + 50% bonus = under 3x leveraged! These people live on such a completely different planet.
I suppose it's because I would rather be seen as doing better than anyone else by a long mile, and thus get a lot of kudos, respect, admiration from my peers, and also the show-off factor, rather than being deemed to be not doing hugely better than everyone else for all the extra hours put in. It also annoys me that nobody gives a damn I'm an "Associate", as that's what accountancy grads start out as, so it doesn't sound like a big deal.
Anyone experienced similar? Do you care, not care, or prefer that your friends have no idea what you make?
Hopefully if I get promoted to Vice President in a couple of years, people will then realise I must be earning a fair whack more than $80k, also if I host parties at a pimp Penthouse in a nice area (Park Avenue here I come..eventually!) I'll get a lot more respect.