What cars do balling Wall Streeters drive?

thefinancekid's picture
Rank: King Kong | 1,294

I'm talking about MD's in PE or IB, or fund managers - monkeys making over $400k. Seems like most wall street ballers don't have an appetite for exotic cars. Even guys like Steve Cohen only drive BMWs. Really curious. I'm guessing most guys in NYC don't drive at all. What cars have you seen your MD riding in?

EDIT: What car do you drive and what car WOULD you drive if you were making over 400k? If i was making over 400k, I would get a mid-level Aston (dream car).

Comments (83)

Jul 4, 2017

None. I take the train to work. I'm shopping for an Elise, but it'll be weekends only. My backup is another Miata. If you hate them, then you're stupid.

Edit: PM in AM BTW

Jul 6, 2017
Whatever1984:

None. I take the train to work. I'm shopping for an Elise, but it'll be weekends only. My backup is another Miata. If you hate them, then you're stupid.

Edit: PM in AM BTW

I test drove an Elise. Fun car. Its like a go cart. I'm 6'0 so hit my head at least twice getting in, but after you're sitting down its not bad.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jul 4, 2017

As a car geek, I'm not sure this is the best place to look. Best I've seen with MD's is a Jag XJ XL or a Bentley - not saying these are shabby at all, but as an enthusiast, investment banking may not be the best place to look for nice cars

Jul 4, 2017

lol why's that? are wall streeters not car enthusiasts? i mean there are surely guys out there who can afford lambos with their salaries

Jul 4, 2017

I don't understand this fascination kids have with cars. In the decade or so since I have started working in finance, I cannot think of anyone I have met or worked with that drove anything more expensive than a Tesla (and that includes a pretty significant # of people who could afford a lambo or whatever car they wanted).

I remember when I started in banking, we had a Saturday event during training at a country club so most of the bankers drove there. It was really funny how some of my fellow analysts were so disappointed to find out that all the bankers drove BMW / Audi / Lexus and not super cars.

If you live in a large city, a car is a complete money pit. You have to pay a fortune for parking (and in NYC, that usually means parking a few blocks away from your building) and you never end up actually using the car. Much better to uber everywhere and use car2go / zipcar / rental when you need to get out of the city. That's what pretty much everyone around me is doing (although I admit that it becomes a bit harder when you have kids where a car becomes more essential, even in NYC).

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Jul 4, 2017

Daily driver E92 330
I am currently restoring a E30 M3 Evo (long-term project, will probably take another year)
Switched from Porsche Cayman to BMW to drive something more practical; needed more luggage space when traveling.
Sadly, due to consulting/work/travel I do only about 7,500 mls per year.

Did two Gumball rallies, once in a 911GT2 (rental).

Jul 4, 2017

Man, you have a good taste in cars. An e30 M3 Evo is my dream car. How full of a restoration are you doing?

I just finished a 2.5 year project on my e30, definitely took longer than I expected.

Jul 4, 2017

Thank you - I appreciate the kind words.
It has always been my dream to work on an E30 because that was one of the "cool cars" when I grew up. I luckily got a model with almost no rust; what I have done so far: all brake lines, all rubber gaskets and seals, redoing the engine at the moment. transmission and driveshaft look good, clutch has been replaced. I would also have to restore all of the upholstery and replace switches, interior panels, etc.
It is very difficult to get an oversight which parts you'd actually need and where to get them from. Never expected this to require 2+ years of my life! I travel to Germany quite a bit and have access to BMW recovery lots, ebay Germany and other good sources for authentic/OEM parts.

Jul 4, 2017

87' Honda, how dare you

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Jul 4, 2017

I had an MD whose daily drivers were a Ford 150 Pickup with an 8 Foot Bed (he and I got along very well because he used his F-150 for the same reasons I do, hauling lumber, soil, etc. to do work at home - he loved to garden - and be ready to handle the snow at all costs), and one of the new Cadillacs as his daily driver. I knew another one who was based in Chicago and his daily was a Subaru Forester because his oldest kid played Hockey and he needed the space in the trunk. So it's really a matter of what you need first and foremost.

Jul 4, 2017

My cousin, who is a VP at a BB, has a benz but he usually uses public transportation for convenience. I think bankers have nice cars in places where public transportation is not very good (think LA, SF, etc).

Jul 4, 2017

true

Jul 4, 2017

Isn't it weird asking a response from your self considering Angel Molester is your other account here to complain about being a non-target?

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Best Response
Jul 4, 2017

All your trolling aside, you seem like a nice guy/gal/other. Looking forward to seeing your eventual success story: "Non-target to BB(Tobin&Co)."

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Jul 4, 2017

Is this a trick question because the true "ballers" pay someone to drive them?

Jul 4, 2017

Well, there's a difference between paying someone to drive you in a yellow cab or a rolls royce.

Jul 4, 2017

My MD who has been pulling in 300+ for about 10 years now drives a jetta. He lives in lic and only uses car to visit parents out in li once or twice a week. Practicality is how rich people stay rich.

Jul 4, 2017

wall streeters are busy and boring, they have no appetite or time for fast cars

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Jul 4, 2017

I was surprised at the lack of nice cars driven by the higher ups at my firm, which is non-NYC where everyone drives to work. Its just not in the culture. My thinking is that, especially after the financial crisis, people in the industry are less risky with there money and don't want to have an image of an "over-the-top Wall street guy," even if they have the money. As a car guy, this was kinda disappointing to me. For posters above who "don't understand the fascination with cars," its an interest/hobby just like anything else is, albeit more expensive.

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Jul 4, 2017

I think it has something to do with lack of time as well. Rebuilding/maintaining/restoring and most importantly DRIVING cars can be a time consuming hobby that may be best pushed off until retirement. When you have a collectable car, you want long pointless daytime drives to enjoy it, not morning commutes.

Jul 5, 2017

MD drives a Volvo convertible - didn't even know they make one. He gave me a ride once. Car was littered with children's drawing books and random pitchbook pages.

Jul 6, 2017

Not currently in IB but my DD is an BMW E92 M3. Also have a Triumph Daytona 675R for canyon carving and track days. However, take this with a grain of salt as I am a gearhead.

Jul 6, 2017

I think it depends on where you live (I am in one of the bigger southern cities fwiw). Most of the seniors in my field seem to just drive big luxury sedans/SUV's, and don't really care about cars. I am by no means a baller, but I am a gearhead. Currently I have a 2014 335i and 1978 Porsche 911

Jul 6, 2017

Major West Coast City here. I don't make 400k+, but I know a good number of people that do. Most common car is probably a well appointed Tahoe/Yukon/Escalade. The fancier guys may go for like a G-Wagen/Range Rover/ Cayenne or like a 750 or S Class.

Out of all the people I know that drive like Ferraris/ Lambos or something really flashy or exotic, most probably make less than 400K. They're very much a "Single 30 Year Old Dude's Car" or a Dad who got it for himself as a weekend car and is not going to be a repeat purchaser.

EDIT: Bentley Continentals (V8) have actually gotten really really popular too.

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Jul 6, 2017

In no particular order, here's what the Partners / MDs I worked for drove and they were pulling down solid incomes. This was in a city with zero public transit so a car was a must.

  • F-150: Kept in pristine condition
  • Infiniti Q60
  • 10 year old Jaguar XJ (some guy rear-ended him and totaled it so he got the Q60 afterward)
  • BMW 7-Series: This guy was probably the wealthiest out of the bunch. I remember he drove us to lunch one day, and he had to put a booster seat and a bunch of toys in the trunk before we'd all fit. Also, there was crayon on the ceiling. My how our priorities change....

The "most baller" car I'd seen a co-worker drive was the founder of a growth-stage company I worked at. He'd sold like 4 other companies before founding this one so he wasn't hurting for cash. Only problem was that it was a Fisker Fucking Karma.

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Jul 6, 2017

The nicest MD car I've seen is a Maserati GranTurismo

Jul 6, 2017

There are a lot of foreign international kids at my school up by Boston. There's a few Maserati's, a Ferrari 599, a Gallardo and then every other car is either a Benz a Beamer or an Audi. Oh and there's a Bentley too.

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Jul 6, 2017
Waymon3x6:

There are a lot of foreign international kids at my school up by Boston. There's a few Maserati's, a Ferrari 599, a Gallardo and then every other car is either a Benz a Beamer or an Audi. Oh and there's a Bentley too.

Tufts?

Jul 6, 2017

#humblebrag

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Jul 6, 2017
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Jul 6, 2017

Haha this made my day

Jul 6, 2017

Lol at the pic.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.

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Jul 6, 2017

I am international. I drive a Jaguar. I know people who drive Maserati, Ferrari, Porsche and Lambos. It is a lot easier for international students to afford these cars in the States than in our home countries.

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Jul 6, 2017

The us is so cheap for cars a 911 is like an entry level model

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Jul 6, 2017

The M3 is probably the most common.

Matrick:

[in reply to Tony Snark"]

Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand.

BatMasterson:

[in reply to Tony Snark's dating tip]

Sensible advice.

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Jul 6, 2017

I agree with the previous posts. I'm currently in the south of France and those kids are used to driving C63 AMG, E class convertible, S5 or A8. I never could afford those cars I mean without contracting a loan.
I'll spend my last year studying in USA and I could easily afford a early-2000 911, high-end X5 or luxury sedan as the prices are low, and without considering the currency rate advantage.

Nevertheless ferrari, bentley or other super cars are still unreachable for me as a student.

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Jul 6, 2017

Really? Gas is cheaper in the US but I doubt an X5 in decent shape would cost less there. Old porsches, beemers and mercs are probably cheaper in Germany than anywhere else.

Jul 6, 2017

Deleted

Jul 6, 2017

I might suggest you take your car fund and hire an English tutor.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

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Jul 6, 2017
heister:

I might suggest you take your car fund and hire an English tutor.

If it is addressed to me could you tell me where I did wrong lol ?

Could someone tell me what is the range of prices for an international student to insure a 2005 BMW X5?

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Jul 6, 2017

International kids (Middle-Eastern and South Americans in particular) were the ones with the most money and the desire to flaunt it. The Middle-Easterners had nicer cars, the South Americans dressed flashier.

The Middle-Easterners drove the coolest cars--Aston Martins, Porches, Customized M3/M6s, Maseratis, AMG Mercedes, to name a few.

Also the son of the guy who made the THANK YOU THANK YOU THANK YOU plastic bags went to my school, he drove a flat-black murdered out M3.

But even the richest Americans didn't flaunt their money. The wealthy girls would drive Lexus SUVs, guys would usually drive trucks, nice American (Corvettes, Mustangs) cars, or family heirlooms like an old Mercedes or something. But I went to school in the South so flaunting wealth is frowned upon here. We are a practical people.

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Jul 6, 2017

Low level Audi's are common (A3 - s4). Run $40K - $65K and aren't terribly flashy but are still really nice.

Jul 6, 2017

I have a few muscle cars GTO, Challenger RT, Ford Falcon, then a couple of cars I am working on a 83 Camaro z28 and a 66 Ford Galaxie 500. I have a Lancia Stratos and an older Audi quatro. Lastly I have a Vette Stingray with straight pipes. A couple of them are terrifying to drive if the road isn't 100% dry.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Jul 6, 2017
heister:

I have a few muscle cars GTO, Challenger RT, Ford Falcon, then a couple of cars I am working on a 83 Camaro z28 and a 66 Ford Galaxie 500. I have a Lancia Stratos and an older Audi quatro. Lastly I have a Vette Stingray with straight pipes. A couple of them are terrifying to drive if the road isn't 100% dry.

Haha no quattro or xdrive for those cars and driving those propulsion were a real challenge before.

Evoque ... i've never understood why so many people like it. It is a way less fancy than a Range Rover vogue.

Jul 6, 2017

thnx for your advices !!!!!!! bmw siries 6 or rng rover evoke ?????

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Jul 6, 2017

Evoque is for the birds, get a series 6.

Jul 6, 2017
GoodBread:

Evoque is for the birds, get a series 6.

If you are referring to a X6 your car talk privileges have been revoked for all time.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Jul 6, 2017

Is the M4 out yet? Get that.

Jul 6, 2017

Lol between two red lights in NYC? Come on..

Jul 6, 2017

This is NYC

The black F50 was totaled later that week, which isn't surprising

Jul 6, 2017

My friends father has a net worth easily over $50 MM (they own a house in the Hamptons), and my friend has a "Bentley GT V8 S Convertible".

Once I did bad and that I heard ever. Twice I did good and that I heard never.

Jul 6, 2017

A lot of it depends on just what you're used to. Kids coming from China pay such a high tax for license plates and just import duties that a Ford pickup truck could cost $125k. When they come to the US and see that they could buy an Audi R8 for that much then why not?! They were already expecting to spend a lot on the car and that's all the end up spending....or they spend even less and get a used C63 AMG.

Same for kids from the Middle East, it is the norm for kids there to drive ferraris and lambos, so they continue here. In the US it is often seen as being a show-off if you drive an expensive car. And if you didn't yourself earn the money (if it's your parents money) then you could be seen as a spoiled kid. That's why there are so many "hidden millionaires" in the US that may have a net worth of $10M+ but still drive a used old bimmer or a new Scion or something.

Jul 6, 2017
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Jul 6, 2017
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"When you stop striving for perfection, you might as well be dead."