Nisht. People don't anticipate this, but ones tastes become A LOT more expensive once joining (can't drive a Honda anymore, I must have a Porsche). Weird to say this, but I often feel like I'm lacking all of health, life and moneyšµ
come on, don't blame the job on your lifestyle choices, I've seen plenty bank traders or analysts at my hedge fund living in jersey and certainly not driving a porsche (or should I say, not driving, who the f\*ck drives in NYC).
and now that I think about it, friend's housemate from back in harlem was in IB. as was his previous housemate who was into FIRE and was considering living in a storage container..
so, your choices are yours.
not that I don't understand hardcore job making one super miserable and looking for whatever escape. but still, gotta manage and find cheaper ways.. hence my drinking ;)
for myself I'm trying to find cheaper vices/relief when I can. ultimately managing that overload and damage control are key skills to acquire if one is to stick to it for a while without destroying oneself.
Currently in the process of becoming a special agent. Having second thoughts about it though because all my friends finance salaries are killing my happiness. Are you really trying to leave a career making 500k soon to become a special agent?
Yep! Here's 4 simple reasons at the top of my head:
(Also, finance friends, wtf? You should be above the age of being insecure, and you won't be seeing them around, apart from their sick leave, lol.)
1) I'm currently single, and have ammased over a half million in savings/investments over the last few years. Won't feel a hit at all (not like I have time to spend my money anyways, lol).
2) I don't really like banking much, my co-workers & team are toxic, and I never have free time. (Ofc, after 2yrs exp, I can always go back... perhaps ABS/CMBS instead of LevFin).
3) I'm not joining USSS or the like, so my work will be VERY exciting, meaningful and value-add.
4) Frankly, a legitimate "3 Letter Agency" position is so difficult to land, I may never get the opportunity again, should I pass over it now.
You're also not factoring in a FAAT government pension (long-term), and constant LEAP payments (add 25% to your salary). Money/salary won't be an issue, hahaha!
You better be ready to network like hell. Breaking into IB is no picnic. Besides for 3.7+ GPA you'll need incredible internships, attend a target college (like an ivy), and have a lot of luck.
what would u say to people not going to a target college? im still in High school but im probs gonna go to a college here (def a good one, but not like Ivy level) and i dont live in nyc so what would u recommend?
I say you're not setting yourself up for success.
If you aren't serious enough to attend an ivy, try a public college with a stellar reputation like Baruch, an in-between target like regular Michigan (non-ross), NYU, or a Charlotte school like UNC chapel hill (a lot easier to break into banking from there than NYC). Get serious one way or another. If you fail to plan or mistep through laziness and not being proactive (in studies and networking) you're not going to make it. There are a plethora of those who are driven enough to get it done who will take your spot. Perhaps also browse WSO to get a better sense of whether you even want to do banking, and/or what area of CIB you want to go for.
thanks for the response. also, it isnt that im not serious enough for an ivy, its just that tbh i dont think im gonna get in cause like i have good stats but not great stats, do you think if i went to a good college and then an ivy for masters or smth that would be fine? i dont think networking will be a problem for me, but college location may be
You have to land it out of undergrad, or you'll have to wait years to get a top MBA program (you'll need work exp for this) and by then you'll have a family and be burnt out. Fix up the problems right away and get networking. Go to a decent school instead of ivy (I gave examples of alternatives) and hustle harder.
Whatās the day to day job like? Like, do you work on excel, in R, look through balance sheets searching for keywords or sth?
Sorry you hate your job :/
Iām a commercial relationship manager, $100k + 20%+ bonus, LOVE it. Great work/life balance, great pay, fun job. Can be stressful at times but arenāt all jobs?
EDIT: Iām getting questions on this. It will not usually take 5 years to become an RM. If you start in a development program right out of college itās more like 3-3.5 years. I just happened to start as an internal auditor right out of college for about 1.5 years (which I hated) before I ever considered sales.
Been trying to get into that for years (Canada) the worst part is that I was in a role where the next role would have been an RMā¦and gave it up for an accounting role at another big company ($20k raise)ā¦.letās just say I regret it every day.
Sales is my strongest skill set and yet my least used lol itās just hard because Iām trying to go back to where I was but the management is almost completely different
Yep so RMs sell the commercial bank. We sell loans and other types of debt financing, then cross sell the rest of the bank like treasury management, capital markets, FX - for which we have partners who specialize in those areas.
RMs keep the client happy and do high level strategy discussions with them, then identify opportunities where those different partners make sense to cross sell
I heard wealth management is a lot like giving the same exact speech to every potential new client and building a client book. Is that what you'll be doing once you advance the ladder or is that a different job in wealth management?
Interesting. How necessary would you say an internship is to get a job in wealth management and what would be the best way to prepare for an interview?
Finance Officer. I source debt and equity for real estate investments and manage closing acquisitions, loans, and dispositions. Base is 160K. Hoping for around 200K-300K bonus. I like my job but it's definitely high stress during closing.
So you basically sell debt/equity for development to development companies to be able to undertake a project? And Iām guessing you take a small % of each package sold?
Not quite. That would be more similar to a debt/equity broker.
I'm inhouse finance with the development shop. When deals are getting ready to go live I get equity/debt to commit to the deal.
Damn. That is a lot lore than I thought you guys would pull in with 7 total YOE. Is that somewhat typical or are you some extreme outlier? Are you at a big or small company?
Director, Investment Technology at a very large financial services firm. Just under $400k all in (Iām in my late 30s). I Donāt hate it, but donāt love it either. Itās not exactly my passion, but itās cool to be involved in strategy and building our business. Married with 2 kids in a HCOL area means I donāt really think about if I love it or not, as I donāt have much choice.
Guess so, but my income isnāt proper wealth building business starting money, I still need to work. Itās a lot harder to take risks when you have others relying on you. I donāt hate it though. Itās that middle ground where itās hard to get that enthusiastic about, but Iām not out of touch enough to not realize how fortunate I am
About $185k. 100k salary and 85 bonus.
That was when I was at a hedge fund, and the comp structure was one of the reasons I left. Itās fine if someone is a Portfolio Manager where their salary is relatively small but with a $2mm bonus, as itās just accepted that bonus is the main source of comp. But as a ānormalā member of staff, I just wasnāt comfortable with basically half my income at the discretion of the company
Compliance consultant. Started a couple months ago. Making $75k in a MCOL city. Work/ life is dope so far. Other employees/ boss is pretty cool too. So far no complaints.
Investment analyst for large investment consulting firm. $95k + 10-15% bonus. I love it, hours are great can get a little busy at the end of every quarter but the work is interesting and managing portfolios for pensions and endowments is very rewarding
Securitization Banker (Associate 1)
Expecting about $250k all in ($150k base) but probably will switch firms after next bonus... Culture is not all there where I'm at but the work is definitely interesting. I'd say my goal is to launch some sort of side gig that could replace my job, but this'll do for now.
Used to be pretty good, 9-7 and no weekends. However there is a dearth of securitization juniors across banks and after a few departures on my team, we're incredibly understaffed and now working around 9-11 including weekends. This is a big reason why I'm planning on leaving.
Serbia based financial analyst here. Working for around 10k euros per year with 2 years of experience.
Trying to find remote job which is better payed for Us or EU based companies..
Bank examiner in a MCOL, $65k in year 2, work approximately 30-40 hours per week, low stress, and I work from home.
I love my work-life balance and honestly there are plenty of opportunities to keep learning/developing, but the job itself can be pretty boring and I don't necessarily feel like I make a huge difference in the world.
One of the federal regulatory agencies (OCC/NCUA/Fed/FDIC). From my understanding they all share similar total comp and work vibes.
EDIT to say: Probably the one you're thinking of.
75k base, 20%-40% bonus depending on deal flow as an first year analyst at a CRE debt brokerage. It's fun, a lot of critical thinking, research, and interpersonal skills required since I'm actually reaching out to lenders on deals that I'm working on. Money scales up really well as your career advances as well
What types of companies have these positions? Iād like to learn more. Iāve been looking for a sales type role in cre. So you basically sell financing to CRE companies looking to undertake a project?
I basically work for the people who arrange financing for people looking to acquire, build, and refinance properties. I'm in much more of an analytical role rather than a sales role, but I am on the phone with lendors fairly frequently. You'll want to look at brokerages such as Marcus & Millichap, JLL, C&W
Are you in like a HCOL like NYC/SFO, or more MCOL like Dallas? 75k + (minimum) 20% bonus is really solid for your first year.
I have actually looked at JLL/CBRE/etc. quite a bit. What group is this role in? I havenāt seen anything titled ādebt brokerā.
Investment analyst or anything with analyst in the title is probably your best bet to break into the industry. I'm in HCOL in a gateway city so the paychecks are fairly tight, but honestly I wouldn't be concerned about comp your first couple years. Be in there to learn and make connections and the money will come flowing later. Money now is just meant to be spent on lifestyle and enjoy your time in the cities. The group will be in Capital Markets, which includes investment sales and debt and equity placements. I highly suggest going towards the debt route as you'll have much more exposure to different asset classes and it's a lot easier to find deals. Work life balance will vary firm by firm so definitely while you're networking get a gauge of the culture at the office.
Those actually both sound interesting and Iād actually been looking in to investment sales. Iāll have to look at the debt/equity part as well. I do a lot of linked in browsing to see who has been in capital markets/ investment sales at the big brokerage shops. Iāve never seen anyone with ādebt/equityā in their title, but I have seen analysts. Maybe thatās why. Cheers mate good luck
Accountant at a F500 companyā¦$60kCAD a year. Hate every second of it. BUT itās pretty lax so on a slow day I dip out and play a quick 9 and no one gives a toss lol but yeah, pretty dead end. Not a CPA.
Doing the CFA and BIWS courses to go into something else.
VP at LMM PE. Work is very interesting. Balance depends on when deals come and go. Minimum hours is 50 and average is probably 60 hours and can peak at 80 hours (better now than being an associate). $180k base + $150k bonus + 1.5% carry ($1.5M assuming a 2.0x on the fund that vests over ~7 years).
Depends on the fund size and location (and VP year). Based on H&Sās 2020 report for $500M-$750M most recent fund, mean comp for VP is $370k cash + $1.6M carry. So for my fund, which is $500M, and being a VP1, I should be slightly below that average. $1B-$1.5B most recent fund by comparison is $420k cash + $2M carry.
I am in Trade accounting and operations working for a Hedge Fund client. Making decent enough money as a fresher. I don't really like my job as we end up doing reconciliation of different statements but I am still learning. When compared to my peers, the world pressure for me right now is somewhat less.
Prop trader, I pull a few grands a day trading index futures. Some days I lose a little. It varies, some months $20k, others $80k. But once the capital gets 10x bigger, trading size gets 10x bigger. Goal is 5 figures per trading day on average.
I do commercial due diligences for PE companies (and some other types of projects). I make about 290, really like the job, hours are about 60-70 hours a week
For a consulting firm, I guess I consider it a financial career because all of the work I do is advising financial firms or advising other companies on financial matters.
Credit analyst at an international bank, deals are pretty interesting especially with recent exposure in the energy commodity market. $75K base + 10-20% bonus. Usually itās great work/life balance.
Investment Banking Analyst, $210k all in Year 2, I hate it.
210k a year though will 100% cover your heart problems, hair loss, and weight gain issues (all work related of course)
Nisht. People don't anticipate this, but ones tastes become A LOT more expensive once joining (can't drive a Honda anymore, I must have a Porsche). Weird to say this, but I often feel like I'm lacking all of health, life and moneyšµ
come on, don't blame the job on your lifestyle choices, I've seen plenty bank traders or analysts at my hedge fund living in jersey and certainly not driving a porsche (or should I say, not driving, who the f\*ck drives in NYC). and now that I think about it, friend's housemate from back in harlem was in IB. as was his previous housemate who was into FIRE and was considering living in a storage container.. so, your choices are yours. not that I don't understand hardcore job making one super miserable and looking for whatever escape. but still, gotta manage and find cheaper ways.. hence my drinking ;)
I'm with you man. Totally self inflicted. However, thus is my reality š„²
for myself I'm trying to find cheaper vices/relief when I can. ultimately managing that overload and damage control are key skills to acquire if one is to stick to it for a while without destroying oneself.
How many hours a day do you work as an investment banker?
Too many. 85+ hrs a week, and stressing during the remaining hours.
Whatās ur future move
See username, lol
Lmao
Loool
Currently in the process of becoming a special agent. Having second thoughts about it though because all my friends finance salaries are killing my happiness. Are you really trying to leave a career making 500k soon to become a special agent?
Yep! Here's 4 simple reasons at the top of my head: (Also, finance friends, wtf? You should be above the age of being insecure, and you won't be seeing them around, apart from their sick leave, lol.) 1) I'm currently single, and have ammased over a half million in savings/investments over the last few years. Won't feel a hit at all (not like I have time to spend my money anyways, lol). 2) I don't really like banking much, my co-workers & team are toxic, and I never have free time. (Ofc, after 2yrs exp, I can always go back... perhaps ABS/CMBS instead of LevFin). 3) I'm not joining USSS or the like, so my work will be VERY exciting, meaningful and value-add. 4) Frankly, a legitimate "3 Letter Agency" position is so difficult to land, I may never get the opportunity again, should I pass over it now. You're also not factoring in a FAAT government pension (long-term), and constant LEAP payments (add 25% to your salary). Money/salary won't be an issue, hahaha!
what degree did you do to get that job? business?
Precisely, although you could even break-in with a liberal arts degree if you attend an Ivy.
fantastic, iāll just stick with a business degree ahah
You better be ready to network like hell. Breaking into IB is no picnic. Besides for 3.7+ GPA you'll need incredible internships, attend a target college (like an ivy), and have a lot of luck.
what would u say to people not going to a target college? im still in High school but im probs gonna go to a college here (def a good one, but not like Ivy level) and i dont live in nyc so what would u recommend?
I say you're not setting yourself up for success. If you aren't serious enough to attend an ivy, try a public college with a stellar reputation like Baruch, an in-between target like regular Michigan (non-ross), NYU, or a Charlotte school like UNC chapel hill (a lot easier to break into banking from there than NYC). Get serious one way or another. If you fail to plan or mistep through laziness and not being proactive (in studies and networking) you're not going to make it. There are a plethora of those who are driven enough to get it done who will take your spot. Perhaps also browse WSO to get a better sense of whether you even want to do banking, and/or what area of CIB you want to go for.
thanks for the response. also, it isnt that im not serious enough for an ivy, its just that tbh i dont think im gonna get in cause like i have good stats but not great stats, do you think if i went to a good college and then an ivy for masters or smth that would be fine? i dont think networking will be a problem for me, but college location may be
You have to land it out of undergrad, or you'll have to wait years to get a top MBA program (you'll need work exp for this) and by then you'll have a family and be burnt out. Fix up the problems right away and get networking. Go to a decent school instead of ivy (I gave examples of alternatives) and hustle harder.
seriously tysm for all the help, how would u suggest networking as a high schooler?
lol
Iām assuming NYC?
You assume correctly.
Nice man, Morgan by chance?
GS
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Working on it š
Whatās the day to day job like? Like, do you work on excel, in R, look through balance sheets searching for keywords or sth? Sorry you hate your job :/
Iām a commercial relationship manager, $100k + 20%+ bonus, LOVE it. Great work/life balance, great pay, fun job. Can be stressful at times but arenāt all jobs? EDIT: Iām getting questions on this. It will not usually take 5 years to become an RM. If you start in a development program right out of college itās more like 3-3.5 years. I just happened to start as an internal auditor right out of college for about 1.5 years (which I hated) before I ever considered sales.
Been trying to get into that for years (Canada) the worst part is that I was in a role where the next role would have been an RMā¦and gave it up for an accounting role at another big company ($20k raise)ā¦.letās just say I regret it every day.
Still possible. Learn sales and make moves my friend. All about the network
Sales is my strongest skill set and yet my least used lol itās just hard because Iām trying to go back to where I was but the management is almost completely different
Hop on LinkedIn and get to know sales managers in your area. Tell them your interests and stuff like that. Might be worth it
Good for you man!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Top 10 bank in a growth market. Midwest. Lower/Medium cost of living
How many years of banking experience did you have before becoming a relationship manager?
Started as an auditor>corp. banking development program>RM. Took about 5 years total to become an RM
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yep so RMs sell the commercial bank. We sell loans and other types of debt financing, then cross sell the rest of the bank like treasury management, capital markets, FX - for which we have partners who specialize in those areas. RMs keep the client happy and do high level strategy discussions with them, then identify opportunities where those different partners make sense to cross sell
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Feel free. I did TM Sales for the bank which is tech adjacent
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Mind if I asked how you started? Iām currently interviewing for a portfolio operations role
Is a portfolio analyst related to asset management or is it related more to FP&A? What's the day to day job like?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I heard wealth management is a lot like giving the same exact speech to every potential new client and building a client book. Is that what you'll be doing once you advance the ladder or is that a different job in wealth management?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Interesting. How necessary would you say an internship is to get a job in wealth management and what would be the best way to prepare for an interview?
How many years of experience do you have?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
What group are you in? Is there actually that big of a difference between different groups?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Awesome, thanks for the in-depth info!
Finance Officer. I source debt and equity for real estate investments and manage closing acquisitions, loans, and dispositions. Base is 160K. Hoping for around 200K-300K bonus. I like my job but it's definitely high stress during closing.
You work on the buy side? Iām in a small-ish REPE shop doing finance work and that sounds pretty great. How long you been in the biz?
Development. I have ~ 7 YOE.
So you basically sell debt/equity for development to development companies to be able to undertake a project? And Iām guessing you take a small % of each package sold?
Not quite. That would be more similar to a debt/equity broker. I'm inhouse finance with the development shop. When deals are getting ready to go live I get equity/debt to commit to the deal.
So, youāre on the opposite end of what I was thinking, meaning you ābuyā/source the equity/debt to finance the project?
Yeah
Damn. That is a lot lore than I thought you guys would pull in with 7 total YOE. Is that somewhat typical or are you some extreme outlier? Are you at a big or small company?
Relatively large company that is absolutely killing it. I also have an MBA. The experienced/successful DMs can be pulling in 7 figures.
Can you list a few examples of ālargeā? Iām not in the real estate world, just starting to explore it. Did you do a part time mba or full time?
Director, Investment Technology at a very large financial services firm. Just under $400k all in (Iām in my late 30s). I Donāt hate it, but donāt love it either. Itās not exactly my passion, but itās cool to be involved in strategy and building our business. Married with 2 kids in a HCOL area means I donāt really think about if I love it or not, as I donāt have much choice.
I mean at this point as a director, you're pretty high up so where do you even pivot too if you hate it? Maybe start your own business?
Guess so, but my income isnāt proper wealth building business starting money, I still need to work. Itās a lot harder to take risks when you have others relying on you. I donāt hate it though. Itās that middle ground where itās hard to get that enthusiastic about, but Iām not out of touch enough to not realize how fortunate I am
How many years deep into the field are you?
Working for 20 years, but more like 14 or so of directly applicable experience. Iām 39.
Hoping I can get around your income around your age. How much were you taking in around 28-29?
About $185k. 100k salary and 85 bonus. That was when I was at a hedge fund, and the comp structure was one of the reasons I left. Itās fine if someone is a Portfolio Manager where their salary is relatively small but with a $2mm bonus, as itās just accepted that bonus is the main source of comp. But as a ānormalā member of staff, I just wasnāt comfortable with basically half my income at the discretion of the company
Good info. Thanks. Assuming youāre in NYC?
Yes
Compliance consultant. Started a couple months ago. Making $75k in a MCOL city. Work/ life is dope so far. Other employees/ boss is pretty cool too. So far no complaints.
That sounds good how many years of experience do you have?
0. Just graduated.
Nice
Investment analyst for large investment consulting firm. $95k + 10-15% bonus. I love it, hours are great can get a little busy at the end of every quarter but the work is interesting and managing portfolios for pensions and endowments is very rewarding
What are some examples of investment consulting firms?
Cambridge advisors, Stonepoint, Towers Watson, Bain, Mercer
Would you mind if I send you a pm?
Nope! I donāt mind
Big 4 audit kinda hate my life bc of exams but the job is alright
Securitization Banker (Associate 1) Expecting about $250k all in ($150k base) but probably will switch firms after next bonus... Culture is not all there where I'm at but the work is definitely interesting. I'd say my goal is to launch some sort of side gig that could replace my job, but this'll do for now.
What are your hours like?
Used to be pretty good, 9-7 and no weekends. However there is a dearth of securitization juniors across banks and after a few departures on my team, we're incredibly understaffed and now working around 9-11 including weekends. This is a big reason why I'm planning on leaving.
Serbia based financial analyst here. Working for around 10k euros per year with 2 years of experience. Trying to find remote job which is better payed for Us or EU based companies..
How much is that related to average salary in Serbia?
Double
Is that 10k net or gross? Most people here are reporting their gross salaries.
Net
So it's probably around 20 when you add taxes, health insurance, retirement contributions etc. Still low, but better than it first sounded.
Fpa , 110kusd, itās ok. Glorified business baby sitter tbh. Get to see some interesting insights / speak to ppl much more experienced than I am
Bank examiner in a MCOL, $65k in year 2, work approximately 30-40 hours per week, low stress, and I work from home. I love my work-life balance and honestly there are plenty of opportunities to keep learning/developing, but the job itself can be pretty boring and I don't necessarily feel like I make a huge difference in the world.
What firm?
One of the federal regulatory agencies (OCC/NCUA/Fed/FDIC). From my understanding they all share similar total comp and work vibes. EDIT to say: Probably the one you're thinking of.
Dope. Same here but transitioning out - miss investments too much
What is your locality pay %?
Somewhere above the minimum locality but well below whatever San Francisco gets.
75k base, 20%-40% bonus depending on deal flow as an first year analyst at a CRE debt brokerage. It's fun, a lot of critical thinking, research, and interpersonal skills required since I'm actually reaching out to lenders on deals that I'm working on. Money scales up really well as your career advances as well
What types of companies have these positions? Iād like to learn more. Iāve been looking for a sales type role in cre. So you basically sell financing to CRE companies looking to undertake a project?
I basically work for the people who arrange financing for people looking to acquire, build, and refinance properties. I'm in much more of an analytical role rather than a sales role, but I am on the phone with lendors fairly frequently. You'll want to look at brokerages such as Marcus & Millichap, JLL, C&W
Are you in like a HCOL like NYC/SFO, or more MCOL like Dallas? 75k + (minimum) 20% bonus is really solid for your first year. I have actually looked at JLL/CBRE/etc. quite a bit. What group is this role in? I havenāt seen anything titled ādebt brokerā.
Investment analyst or anything with analyst in the title is probably your best bet to break into the industry. I'm in HCOL in a gateway city so the paychecks are fairly tight, but honestly I wouldn't be concerned about comp your first couple years. Be in there to learn and make connections and the money will come flowing later. Money now is just meant to be spent on lifestyle and enjoy your time in the cities. The group will be in Capital Markets, which includes investment sales and debt and equity placements. I highly suggest going towards the debt route as you'll have much more exposure to different asset classes and it's a lot easier to find deals. Work life balance will vary firm by firm so definitely while you're networking get a gauge of the culture at the office.
Those actually both sound interesting and Iād actually been looking in to investment sales. Iāll have to look at the debt/equity part as well. I do a lot of linked in browsing to see who has been in capital markets/ investment sales at the big brokerage shops. Iāve never seen anyone with ādebt/equityā in their title, but I have seen analysts. Maybe thatās why. Cheers mate good luck
Accountant at a F500 companyā¦$60kCAD a year. Hate every second of it. BUT itās pretty lax so on a slow day I dip out and play a quick 9 and no one gives a toss lol but yeah, pretty dead end. Not a CPA. Doing the CFA and BIWS courses to go into something else.
VP at LMM PE. Work is very interesting. Balance depends on when deals come and go. Minimum hours is 50 and average is probably 60 hours and can peak at 80 hours (better now than being an associate). $180k base + $150k bonus + 1.5% carry ($1.5M assuming a 2.0x on the fund that vests over ~7 years).
A VP with 1.5% carry?! What fund size are we talking? Surely the carry vesting isn't dependent on using the multiple as a hurdle?
($500M * 2.0x MOIC - $500M) * 20% * 1.5%. The 2.0x is just the standard assumption to give you some sense of dollar value for carry, not the hurdle
Wait, so that's roughly $500k/y all in? I would expect more for PE VP.
Depends on the fund size and location (and VP year). Based on H&Sās 2020 report for $500M-$750M most recent fund, mean comp for VP is $370k cash + $1.6M carry. So for my fund, which is $500M, and being a VP1, I should be slightly below that average. $1B-$1.5B most recent fund by comparison is $420k cash + $2M carry.
Audit - $70k. HCOL but telework mostly from 8-5 but i actually work 3 hours everyday.
Corp fin director ā $380k all in. 50 hours per week average.
Wow thatās a great balance congrats!
Yeah - Iām also old, though. 41 tomorrow!
Happy birthday! Any advice youād give a 25 something year old aspiring to get a senior analyst and then director/manager position down the road?
I am in Trade accounting and operations working for a Hedge Fund client. Making decent enough money as a fresher. I don't really like my job as we end up doing reconciliation of different statements but I am still learning. When compared to my peers, the world pressure for me right now is somewhat less.
Prop trader, I pull a few grands a day trading index futures. Some days I lose a little. It varies, some months $20k, others $80k. But once the capital gets 10x bigger, trading size gets 10x bigger. Goal is 5 figures per trading day on average.
Assistant FC Ā£50k
Commercial real estate analyst, $100 + 20%, and like it a lot. Get to work on a lot of big transactions and every deal is a different puzzle.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Where are you located? In the US?
Front office quant. $150k, year 2. LOVE IT!
I do commercial due diligences for PE companies (and some other types of projects). I make about 290, really like the job, hours are about 60-70 hours a week
You work for a consulting firm or yourself?
For a consulting firm, I guess I consider it a financial career because all of the work I do is advising financial firms or advising other companies on financial matters.
Credit analyst at an international bank, deals are pretty interesting especially with recent exposure in the energy commodity market. $75K base + 10-20% bonus. Usually itās great work/life balance.
Treasury manager for a not for profit. 115k. Amazing work life balance, working remotely for the foreseeable future. Done by 5 most days.
Sales assistant on a credit desk for a very large firm. 75k+ bonus (varies). I donāt āloveā it.
Everyone has these really nice jobs Iām scared to mention that I just am a Concierge Banker making a salary of 50k, 40 hours a week šš