OP, do you have a PharmD?
3 mil thats like below avg at that level. your buddy and his boss both hacksaw.
you should prob stop associating with him at this point as he will only bring your future earning potential down.
you dont get rich in this business being friends with losers.
honestly if you are a real bsd, you will pick up the phone and call your buddies boss and tell him to fire that mediocre zip.
follow up with an email to the boss with a copy of your resume, give him your start date and your ideal salary.
then text your ex-friend and tell him “youre welcome, you will thank me one day”
at this point his gf is fair game so let her know the shmuck just got fired and you are coming over in a few hours with some mad dog and m@gnums
No, I’m doubling in Bio and Econ and have been guaranteed admission by a professor into a 1 year M.S. for Biomedical Engineering.
LOL igor. I wish I could…I wish I could. That man is currently slaying left and right. I WISH I was him (my friend I mean).
No, but seriously. I’ve looked on wso and they say that the current packages for associates ranges in the 140-160 level all-in at BB (NYC). That’s why I was wondering earlier if packages are really that sweet. I’m not making it up. I could post the link for you if you want.
Just a disclaimer: All jokes aside, I know I’ll be well compensated if I ever make it to a BB. I just wanted to know if I’ll ever have the honor of saying that I got to “that level”.
^ Serious note: My experience with WSO is that they are mainly banker wannabe types. I know a few people at my school who are still students but pose as experts or people with industry experience. Don’t listen to the bull they say. Some people like Palantir, Ohai and few others actually know what they are talking about. I am confident you cannot make the same argument for WSO people. I myself don’t want to have a career in ER/banking and prefer to follow the quant route but I still benefit from the hindsight of a few people here. Avoid WSO , if you haven’t already check out mergersandinquisitions.com .
I’ve looked through mergersandinquisitions, but I think their website is a bit outdated.
As far as wso is concerned, I see your point. I got that vibe as well. But their is a consistency to some of the answers that makes it hard to assume they are just making it up.
Quants: Are those involved in risk and strategy for allocating funds? Are you talking about algo trading?
In terms of work life balance, an ER analyst definitely wins from what I’ve seen. Besides the travel, successful analysts spend a lot of time socializing and some having their associates do the modeling, etc. As long as you have those buyside relationships, you don’t have to work long hours. Market hours arent that bad and don’t have the stress of actual stock performance
But I thought once you transition to the buy-side: the hours go down, but the stress goes up because your stock picks actually start to matter.
By “win”–what do you mean? ~50-60 hours/wk at the senior level? Or more like 40?
Ah man, this is classic. These “map out my entire future” topics just kill me. At 34 you want to be working 30 hours a week and clearing 8 figures?
Great. Love this place.
Hahahahahaha.
30 hrs a week at a bank? If you look good in high heels, maybe you can score a gig at the front desk.
ok ok hotshot. A lot of young guys want to have their entire lives mapped out in front of them. I’d love to be working 30 hrs/wk for a 7 figure comp. But I know it’s not likely. I was just wondering how things will be if I get a BB FO offer as a sell-side ER associate.
To be completely honest with you, the guys as WSO are laying down data points for IB and ER bonuses this year and what I’ve said regarding pay is not falsehood. It looks like mid-level associates in ER can make upwards of 200-300k/yr and that’s in your mid-late 20’s. So I was just wondering what happens as you keep climbing up.
200k-300k are typically bonuses for ER Associates, not total salary.
Wrong. Those should be all in numbers
Just remember everybody on WSO thinks they’re a BSD. Out of curiosity do you actually know anybody in these roles or are you just going off what anonymous people are posting on a message board?
Well I have one friend at a BB who will clear 170 this year and he just started his second year. So I’m assuming by the time he becomes an associate analyst he’ll be clearing 250 minimum. This is at Jefferies I think.
The other numbers were just confirmation from WSO ppl. So that’s why I was so quick to assume that these guys will make 7 figures by their 30s. I mean 200-300k as an associate analyst is in line with IB compensation. So why wouldn’t IB and ER comp keep neck-and-neck during career progression? Is there a point where they begin to diverge rapidly, while the IB guys make off with more in their mid-late 30s?
IB guys probably get paid 10% to 20% more than ER guys throughout all career stages. People tend to be paid more when they are closer to the money. Plus, IB tends to have a hard requirement of MBA between analyst and associate stages, so this needs to be priced into years 3-6 for IB people. IB people probably have bigger upside as well - you could generate $100mm in a great year in IB, not so much in ER. But there is probably greater risk that you will have no deals and no pay in very bad years.
It’s hard to really compare starting salaries (IB analyst/ER associate) between the two fields. IB people are right out of college while ER associates are more likely to have a couple years of experience doing something else. So age adjusted pre MBA, IB probably makes even more.
And anyway, the compensation projection needs to be handicapped by the odds that you will survive in any field for N years. IB attrition is probably much higher than ER. So, your expected earnings while in that field must be discounted, due to the likelihood you’ll drop out for any number of reasons.
Anyway, most of this is probably moot, since 1) you probably won’t have offers in BOTH fields (if either), 2) the future is too variable to make long term projections, and 3) despite the actual numbers, they are still high anyway. It’s not like you are going to make a decision because you will “only” make $400k at age 30.
I already flagged OP as a troll and yet senior members are fooled by Mr PharmD here.
Thanks ohai. This was pretty informative.
Jefferies is known to pay well. But it’s a total sweat shop
Can you get a job offer(s) first and then come back here to ask these questions? You sound like the asian kid who had a dad who said he had to be a doctor and now you’re deciding to try a career in finance because you “love” the idea of looking at companies…etc…etc. The fact is you don’t know what that entails yet so you “don’t” love it and obviously your enamored by the money. Your friends quoting you 140-160k all in are straight losers to be honest…you should def be clearing 200k first year out on the street. Just finish your degree, apply to med school, and stick to your original plan.