Unpopular Opinion: Relative Value of IB Pay Isn't Great
Everyone on here talks about how great investment banking is on the junior level (below VP) but compensation is always thrown out in absolute terms. A much more relevant metrics is an hourly basis adjusted for the cost of living. Many of the people working are probably in one of the highest COL place like NYC which is 30 - 50% higher COL than many primary / secondary and even gateway markets in the US.
You are also working ~80 hrs per week and I'm assuming pulling in ~$250K avg. salary for a senior analyst / associate level position.
On a hourly basis (80 hrs. / week) at say $250K / Year at an adjusted cost of living (+40%) you are only making $43 / hour at the sacrifice of having literally no life outside of work and a unhealthy lifestyle. People I know in another industries, say commercial real estate, corporate finance or tech in a primary / secondary market are making a lower absolute amount amount with same amt. of experience @ 50 / hr work weeks, at say $140K comp but are making a higher col-adjusted hourly rate ($54 / hour). They also have a life outside of work.
Please enlighten me how investment banking makes sense from a relative value perspective from other industries?