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You’d make $160k+ all-in your first year in IB at your BB — what’s your bonus look like now?
Let me get this straight, you want to take a pay cut and title cut to work twice the hours and make less ?
To be honest, I can’t think of a better position in traditional jobs in finance than making $400k working 50h weeks... yeah you could make a bit more in IB comparatively (if you don’t burn out before then and are a high performer), but is it worth sacrificing your personal life ?
I think you may not realize how hard it is to pull 100h coming from a 50h environment. There’s more to life than money and you’re already in a pretty good position
He doesn’t make 400k now though.
No shot
no cap this guy must be from /wsb pure autism
whats next thread on wso? CEO from F500 company lateral to IBD Analyst at Goldman Sachs?
Not sure why people are shitting on OP. ST is an extremely risky career and the trend has been that banks are slowly letting people go from these divisions. It might be a good idea to join IB while you're young to give yourself career flexibility as opposed to dropping $$$ on an expensive MBA.
OP, what are you doing within ST, and to what kind of IB coverage/product group are you moving to? Maybe you can move laterally to be given more years of experience? There are fin institutions like Evercore that pay people handsomely, and although your base salary would be lower, your all-in comp would be much much higher. As someone said, you'll probably make around 160k + all-in from most fin institutions.
If the group you would be moving to is really reputable, I would take it. Do one year and then leverage that experience for an associate role at another bank, or move to one that pays better. Otherwise, I would probably continue shopping around for a bank that will give you more than one year of credit for your experience. There's a great hiring environment right now.
Lol as someone quite a few years your senior (sounds like 8-10), I'd highly suggest you don't do that. I haven't heard of a worser idea
Also more transferable skills to ever leave the industry
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