Whats the salary progression for IB?
1st years make ~$70,000 base, what do 2nd and 3rd year analysts make? Is $10k/year still the standard yearly base increase (assuming your firm is doing well)? Any firms with a higher starting base?
What does the future of IB salaries/bonuses look like in general?
Salaries will be decreasing for years to come
didnt jp morgan just increase analyst pay?
no and bonuses are staying low for a while which is why bases may go up...may
Where did you hear this? Is it 80k now?
I read it on a legit news homepage one or two weeks ago. can't remember which one though
It's irrelevant that's what it is. You like IB, do it, you like it just for the money, don't do it, and anyway you're not going to be paid better elsewhere (with a few hard to access exceptions) if money is your primary motivator.
Don't be so asinine. Of course there are, but do they employ in such numbers, require less luck (luck is still involved though regardless), are open to most and not require creating a picture appy thing and selling it to FB.
Or maybe they are always looking for unique candidates?
Banking gets you ok money given the risk you take (not as bad as entrepreneurship, but its not exactly a guaranteed gig), when you add the huge health risk you expose yourself too, the risk-adjusted pay-off looks pretty shitty.
Once you factor in hourly rates its pretty bad.
risk adjusted pay, what the fuck are you smoking, the statement was "there are lots of ways to make more money than banking", who the fuck talks about risk adjustment when talking about your salary, we're not working in sulphur mines here. Hourly rate, once again has no bearing on the question in hand which was a statement on relative total salary.
You're point is wrong, there aren't a significant number of reasonably accessible career paths that pay better than banking to make your statement valid. You have the logic of a child, "mummy I can be a football star, make up the new iphone, invent a teleporter, and I'm only 7 and 3/4s. that's lots of ways to make more than daddy at his bank with no bank accounts."
Binary_Bankster....you comments are going to bring an onslaught of shit...get ready.
Why? He's right.
if you look at my profile with monkey crap thrown at me you would see you're right
It is true though, I don't want to see it happen, but it's true.
Someone yesterday mentioned how the increase of information = increase of efficiency = lower profits of banks...it's true
Since no one actually answered the question... typically base increases 10k per year, though this is assuming "normal" conditions (i.e. no salary freezes, your bank is healthy and pays street, etc.)
[bank is healthy]
cough cough
It is becoming increasingly obvious that you got denied from every IBD position you applied for.
if any thing has taught us about the financial crisis, it is that only one sector or group can do bad and blow up the firm.
Look at Lehman, Bear, and almost Morgan Stanley with those MBS trades.
What does that have to do with salary progression? Off topic post.
we have a general salary page / comp page here: //www.wallstreetoasis.com/faq-how-much-will-i-make-if-i-pursue-a-career-i… (linked in our FAQs)
If you want company specific comp, check out our Company Database
Surprised no one has discussed this yet.
WSO Mod swings in for the win.
gjdm
WSO owner and creator*
What's with all the monkey shit? That's a pretty accurate statement and I don't particularly see too many gold stars coming in to refute it. Top buckets probably won't be too affected, but I would expect suboptimal performers to feel a lot of bonus pain in the future.
you mentioned founding instagram as an unreasonable alternative, you can try to price entrepreneurship salaries by talking about risk you take for given career paths.
You may want to work on your reading comprehension.
Anyway there is no point arguing with you, you have never done banking.
This is like all the college kids trying to convince the bankers how awesome their job must be. (I know your not in college).
Some reasonable alternatives with decent salary on par/ higher than banking that dont require 100000 hour work weeks:
Asset Management
MM PE
Certain Doctors (Ortho, Comsetic surg.)
Running your own small business)
When I look at comp in banking I think the point to bring home is this: You can be VERY average, but sit in an MD seat and still make 1mm+. Heck average VPs can and do make 500-600K. Very few professions have seats for average employees that will pay anywhere close to those numbers.
And yes "average" is extremely subjective, I know that.
This is where you are wrong. You think that you can be average as an MD and bring home 1m+? Are you kidding? Dude if you are "average" you won't even survive in banking...seriously wow man. Get a grip on reality.
When he says "average" I assume he is talking about within the banking industry. The "average" person clearly will not survive banking, but being "average" within banking I think you will do quite well.
Have you ever worked in banking? No need to put these guys on a pedestal. Sure getting to MD isn't an easy task and requires a ton of sacrifices, but if you end up in that seat and are an average producer you will more than likely make over 1mm. Now go look at the average medical device salesperson and tell me if they bring home anywhere close to 1mm. That was my point.
The word "monies" is funny to me
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