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How much does an entry level finance guy REALLY make?

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

  1. CalTex

    CalTex Senior member

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    I wouldn't go that far, but maybe I missing something.
     
  2. CYstyle

    CYstyle Senior member

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    Is that even a club, or his garage? i never been to such an empty quiet club ever.

    you could get a used boxster with 50k miles for like ~12k
     
  3. GreenFrog

    GreenFrog Senior member

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    This. People love to brag about how many hours they worked.
     
  4. rockket

    rockket Senior member

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    hours typically range from 60-90 per week. volume is very rarely a reflection of an analyst's efficiency (though perhaps that of his superiors). there is a decent amount of downtime throughout the day due the nature of the job.

    comp is between $120-150 for 1st years at good bulge brackets/comparable boutiques.

    lifestyle is unsustainable in the long run, but this is a 2 year gig for most.

    95% sure the guy in that video isn't in IB.
     
  5. Quadcammer

    Quadcammer Senior member

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    to some degree maybe, 80 is probably about average, but 100 hour weeks are not at all unheard of.



    Thats a fairly new boxster (987). Still, maybe $40k, if that. Hardly anything to brag about.
     
  6. gomestar

    gomestar Senior member

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    having a car and living in NYC is the epitome of waste.


    of coures, that guy probably lives in NJ.
     
  7. Piobaire

    Piobaire Senior member

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    Oh god. I always knew "bottle service" was douchey but just did not know how douchey. So glad that was a fad that got invented after my time.
     
  8. ppllzz

    ppllzz Senior member

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    meh i work on buyside and have a 40 hour week, but sometimes i wish i was an ibanker. 120k first year, 150k second year, but by associate you are making 250k+ in your 3rd year.

    if you are a true finance guy (ie you spend 95% of your time thinking about money and how to make more of it) the "80 hr work week is unsustainable" is only a way for you to justify your decision to take a much lower paying job

    edit: that models and bottles video was so cringeworthy
     
    Last edited: Oct 28, 2012
  9. CushyCouture

    CushyCouture Well-Known Member

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    I doubt 250k your 3rd year is the norm in ibanking. I've never even HEARD of any third year making that much. If a 3rd year is making 250k, how much is his boss with 10+ years experience making? C'mon.
     
  10. newinny

    newinny Senior member

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    3rd year associates made 250k +/- 50k total comp last year. 125k base plus 125k bonus.
     
  11. CushyCouture

    CushyCouture Well-Known Member

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    Oh yeah, I forgot about the bonuses! Still though, it's normal to get a 125k bonus? Wow.
     
  12. ppllzz

    ppllzz Senior member

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    this. survival bias. most people don't make it to third year associate--they transfer out to something slightly more lucrative than 2nd year analyst but not as lucrative if they're bad, something more lucrative if they're good, business school if their disillusioned, etc. the people with 10+ years of experience at an ibank are either masochists or making 500k+ or 1mil+. greg smith (that lame gs guy who published the nyt oped) was making 500k at 26 and wanted to make 1mil+ at ~30.

    the variance of pay in buy-side is enormous--you have HF managers that pull in 1bil+ per year, but most are not making anything near that. banking you are pretty much guaranteed a high salary if you put in the hours and are competent.
     
    Last edited: Oct 28, 2012
  13. poorsod

    poorsod Senior member

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    :hide:
     
  14. Gordon Gekko

    Gordon Gekko Senior member

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    The base salary is $64k, but his bonuses could double or even triple his base salary.
     
  15. CushyCouture

    CushyCouture Well-Known Member

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    It would REALLY suck if someone didn't get a bonus though huh? Imagine working even 50 hours a week and getting no bonus with that base nowadays.
     
  16. CBrown85

    CBrown85 Senior member

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    Thread makes me want to stab my eyes out.
     
    5 people like this.

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