How much does an entry level finance guy REALLY make?

Discussion in 'Business, Careers & Education' started by CushyCouture, Oct 22, 2012.

  1. CushyCouture

    CushyCouture Well-Known Member

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    I know someone who was a first year at Goldman, with only a bacheleors from an Ivy League make six figures. However, looking at glassdoor.com the average salary for an analyst is only like 64k! Isn't that poverty level for New York City?!

    Anyways, I also saw a video once of this presumed entry level finance guy at a VIP table with a 6 at best laughing to himself and saying "models and bottles". Was this guy really making enough money to sit at that table in Manhattan and ordering probably $300 dollar bottles of grey goose? Or was he just an idiotic douchebag who thought 60 some thousand was a lot in Manhattan? I'm leaning towards the latter looking at the girl he considered a "model" on his arm.

    Or do both exist and the standard deviation of the salaries is just really high?
     


  2. GreenFrog

    GreenFrog Senior member

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    Your friend at Goldman is most likely an Investment Banking Analyst. These guys do make six figures after bonus -- $70K base + $40K bonus (probably top bracket in today's environment).
     


  3. gomestar

    gomestar Super Yelper

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  4. violethour1951

    violethour1951 Senior member

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    GreenFrog's numbers sound right; however, my friend who's in IBD calculated his hourly wage after his first year (including bonus) and he was making only about $25/hr...
     


  5. Quadcammer

    Quadcammer Senior member

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    depends entirely what area in finance, what firm, and how good you are (or rather how many hours you are willing to kill yourself).

    Our first year salaries were below 100k, but with bonus it exceeded that figure.
     


  6. pseudonym

    pseudonym Senior member

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    I died at this. It's more irony, if anything, but some IB guys are serious about that life.

    Friend of mine made 30k bonus last year. Street entry level is 60-70k.
     


  7. ac21686

    ac21686 Well-Known Member

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    Are you referring to the video with that guy AJ ? Pretty sure he was outed as working in the back-office in operations and wasn't even a banker. Absolutely nothing wrong with being in operations, but he's definitely that guy at the bar who pretends otherwise and makes sure all the girls know he works at a BB.
     
    Last edited: Oct 23, 2012


  8. CushyCouture

    CushyCouture Well-Known Member

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    LOL. "Hey baby, do you want to know where I work? Just a little place called JP Morgan.....



    as a teller at Chase....
     


  9. pseudonym

    pseudonym Senior member

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    You can't just mention the video and not post it. Come on, man.
     


  10. ac21686

    ac21686 Well-Known Member

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    Last edited: Oct 23, 2012


  11. CushyCouture

    CushyCouture Well-Known Member

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  12. Joffrey

    Joffrey Senior member

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    hilarious. The girls aren't cute and the club looks empty.
     


  13. sns23

    sns23 Senior member

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    lol. His "hot" ride was a Porsche Boxster.
     


  14. CushyCouture

    CushyCouture Well-Known Member

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    Are bonuses in finance really easy to come by or something? We get bonuses in tech too but noone I know includes that because it depends on several factors like stock performance, peer/management review, milestones accomplished, etc.
     


  15. Quadcammer

    Quadcammer Senior member

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    that can't be serious lol.

    Nobody whose making any real money is bragging about porsche boxsters, a few overpriced bottles/cocktails or those chicks.

    This guy is a colossal tool
     


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