- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/11/24 at 9:19 am to Thundercles
Posted on 5/11/24 at 9:19 am to Thundercles
I've worked plenty of 65-75 hour weeks but don't think I could handle 85+ for any extended period of time
Posted on 5/11/24 at 9:32 am to hottamaletiger
quote:
People who say shite like this are lower class. $160k for a single kid under 35 in New York can go a long way.
$160k a year pre tax in one of the most expensive cities on the planet isn’t shite.
How old are you?
Some of you people need a reality check this country was sold out by the left and the right to pad their pockets and the American dream is dead and buried.
$160k a year is like …. $120,000 after tax MAYBE.
That’s $10,000 a month.
$3,000 in RENT.
$7,000.
401k and Roth max give or take.
$5,500.
A little bit more extra savings like crypto or brokerage or emergency savings or house fund or whatever.
$4,000.
Maybe debt payments. Utilities. Cell phone bill. Internet. Cable. Groceries. Transportation.
$2,500.
Congratulations. At the end of the month you have BARELY contributed to savings. Are wasting money towards rent and not a property owner. No car. AND you have $2500 of fun money per month to eat and drink at some of the most expensive places in the country.
You people are DELUSIONAL.
That is BARELY comfortable. In fact I would argue that is toeing the line between comfortable and uncomfortable.
Posted on 5/11/24 at 9:35 am to saintsfan22
quote:
Based almost solely on seeing Margin Call
Great movie. The young associate that just cares about what everyone makes, the overqualified engineers and scientists that came to IB for the money, the higher ups that don’t know how to read the latest charts/models. All true
Posted on 5/11/24 at 9:38 am to Chicken
quote:
online shopping and nice vehicles chip away at it.
Why would you need a nice car in NYC?
Posted on 5/11/24 at 11:44 am to chalmetteowl
quote:
Why would you need a nice car in NYC?
Can almost guarantee the majority of these people don't have a car in the city.
Posted on 5/11/24 at 12:01 pm to Thundercles
quote:
these guys are getting paid ~160k out of
Starting salary for an IB Associate at BofA was $175k. He got a signing bonus of ~$50k and normal stub bonus is ~$50.. But I think BofA might have been like $20k this year. After 18 months you get your first real bonus which is normally 0.8 - 1.0x base and you get a salary bumps to $200k. However, know BofA and the rest of the street underperformed so numbers varied greatly.
The idea that he is living off ~$160k is kinda flawed due to stub and signing bonus.. Also tons of little perks like, he probably didnt pay for a single dinner.
As for the hours and culture - the hours suck and you can't explain it until your in the seat. A summer internship doesn't do it justice. The culture depends bank to bank and group to group but nobody is going to feel sorry for someone who is working alot except for their peers.. Many of the higher ups are literally robots.
Posted on 5/11/24 at 1:04 pm to Thundercles
quote:
How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/11/24 at 2:49 pm to hottamaletiger
quote:
People who say shite like this are lower class. $160k for a single kid under 35 in New York can go a long way.
After taxes, it's more like $110k. Then rent, utilities, parking fees will probably be another $50k.
So you've got $60k to live the lifestyle of an investment banker.
Posted on 5/11/24 at 3:27 pm to Thundercles
Chasing money isn’t something I feel sorry for. That’s what they want. I look at it the same as a guy who chases the shut downs working 7 12s on the road then cry’s his wife left him or his kids hate him. Going out to make a living is one thing. Chasing the big payday to pay for a lifestyle is another.
Posted on 5/12/24 at 10:27 am to LSUDonMCO
Sure you did. I bet half of them were driving around if at all. Lol.
Posted on 5/12/24 at 10:51 am to wadewilson
quote:
So you've got $60k to live the lifestyle of an investment banker.
That’s only a couple months of coke at the quantities they need to be successful.
Popular
Back to top
Follow TigerDroppings for LSU Football News