How Much Money I Earned in Banking *Exposing Investment Banking Salaries*
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- Опубліковано 2 лют 2021
- Exposing how much money I made in finance every year & what investment bankers earn
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#InvestmentBanking #Banking #BankingSalary
This channel is gonna hit 100k this year I’m calling it now, such good production 🙌🏼keep it up man
If it does I'll credit you for predicting it haha :)
@@PhilReid bro can you help me with some cash i lost my job because of coronavirus? any financial help would help thanks
fax
Sure . How much ?
@@2012muneeb 1000
Honestly, your presentation skills are great and the vlogs around London are sick - you are one of the best upcoming youtubers I follow - it's only a matter of time before this channel blows up
A lot to live up to haha no pressure! But thanks - super kind of you to day this
I agree. Your a great UA-camr Reid!
Excited to your channel grow & keep these vids up!
Rafi Cutler thanks Rafi 😊
Great video bruh. So refreshing to get the information straight without any nonsense.
Daaaaamn you actually gave out all the figures. This video is going to blow up
I sure did! And let's see... I hope it does well :)
You're killing this bro. Great video and quality
Thanks for saying - hope you're doing well?
Fair play for sharing, this can be such a touchy subject!
Yeah so true - salaries are such a touchy subject. But since I don't think I'll go back into that world - I don't think doing this video will have any repercussions ...
@@PhilReid why won’t you go back into the role ?
Really enjoyed this one man. I appreciate your insight & transparency
Your editing skills are crazyyy❗️❗️
I just subscribed, at least don’t quit UA-cam.
Hahaha made me laugh... I will not be quitting UA-cam any time soon 😊 Thanks for the compliment, glad you enjoyed!
I appreciate the transparency, most people wouldn't be this open about the topic, great video
Yeah I know - it's a touchy subject for sure :) thanks for watching man
Not being open is what keeps people's wages down
@@PhilReid hi Phil just started watching your channel and loving it so far. Just curious as to what uni you graduated from? Thanks!
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Awesome Phil ! Respect bro !
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
As you plan your retirement, be sure to
talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@ThomasWilliam-sw8ms Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@MaryPatricia-wr3wj How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@ThomasWilliam-sw8ms KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
@@MaryPatricia-wr3wj Thank you so much! Found her webpage and left a message. Hopefully, she responds.
Awesome video Phil appreciate your honesty 👍
Thanks 🙏I try to be - thanks for watching
Great video, really interesting for people like me who are looking at going into banking !!
Great to hear!
loved it. got to that point!💁🏼♀
Thank you for your transparency and honesty, love the watch thing too keep up the good work...
Anyone Want Asset Manager, Accounts Manager And Tax Manager, Audit Manager, Transfer Manager I Do Work With Safe And Secure
Wow! Well deserved and I know working in Investment Banking is very hard! I wish I was good at Maths 🤑🤑🤑🤑
You did very well in 4 years. Congrats on that. I think it is hard to get those last two jobs at Barclays and the other bank so also congrats on that. Hope everything is going well with you mate.
Thanks - very kind of you to say :)
I’m starting at JPM in two week on a 10 week internship. I’m getting a 1k signing on bonus and get paid as if I were on a salary of 28k. I absolutely can’t wait, but worried that I’m getting recommended video after video of ex-bankers, I hope that’s not a sign haha. Great video mate, keep it up.
So how did it go
that’s awesome! thanks for the content
This channel is soo underrated whhhhyyy
Too kind :D
hahaha thaaaaanks
Because finance is boring
This is an amazing channel and video. I love the way you communicate
Thanks Antonio 😊 Nice of you to let me know. Hope you're doing well!
Underrated channel. Going to be big soon for sure.
Maybe maybe - thanks though 🙌🏼 🙌🏼
Very informative and transparent, good work
I used to be a chauffeur, worked for a lot of banking big wigs in the late 80s until the mid noughties, lower level staff had the big titles but crap salaries. As a chauffeur I was on a lot more basic salary, I got more perks and bigger bonuses and well paid overtime than the big titled employees.
You're doing great things, well done 😎
Anyone Want Asset Manager, Accounts Manager And Tax Manager, Audit Manager, Transfer Manager I Do Work With Safe And Secure
Great video as ever mate... At Barclays what were your hours like? I'm guessing was contracted 8:30 - 5:30 but did you often stay later?
Thanks my man! Yeah 9 - 5/6 was what was on the contract but I typically worked until 6:30 / 7:30 - sometimes later but also sometimes much earlier. The balance and flexibility was actually really good :)
Thankyou for the video, your education enabled you to make brave choices. You will succeed at any role you undertake.
I hope so! Thanks
I'm from Morocco & I've been following you for one year so you don't need to ve worried about reaching global :D , I'm currently based in London btw. Cheers!
Never watched you before but good editing man
Good video mate, how did u find the transition from your different roles and how did u find the culture. I'm not built for finance but its interesting to see different perspective of people
Great insight mate 👌
Thanks :)👌
i knew it! - you seem way toooo nice and approachable to be an investment banker.
Share the message of happiness over money. Such Ann important message a lot of people need to hear 💸
Everyone needs to hear it :) it's so important
You’re so genuine. WTF 😭 I’m subscribing because how can someone be so chilled
I'm in freshman year( Finance major)
Your videos are truly motivational
I'm moving to the Wardian pretty soon!
Hoping to bump into you! :D
Great work btw :D
Ah nice! Yeah say hey :)
I don’t understand. Do those senior peeps all structure their taxes in jersey or grand cayman?
I've no idea to be honest... maybe the senior people in banks because they earn millions so it would make sense for them to try to avoid paying ridiculous taxes
Admire your courage. Choosing happiness might sound so obvious at the outset but a daunting decision to make.
Appreciate that - it does sound obvious but yeah you're right, it's not always so easy to follow happiness
Really enjoy your content.
I can confirm these figures, very realistic.
glad you enjoyed, and glad you can confirm the figures :D Are you working in IB?
Your video production is v high💯what audio and camera equipment do you use?
Thanks a lot! I use a Sony A7iii
IBD VP here and your numbers seem about correct for london I guess but what is interesting to note is that IBD salaries are much much higher in NY. Even as an 3rd year analyst you can break the $200k mark and as an Associate and VP, multiples of that
Hey - oh wow, good to know about NY salaries (I didn't know this). Thanks for the message 😊
how do you recommend to get into investment banking and finance coming from a non target school? any certain career path? majoring Econ and accounting
Ik this might sound stupid but like is investment banking one of those things were u need a degree or can u do apprenticeship degrees etc.. to get there?
No it's not stupid at all... to get into investment banking most people will have studied in a relevant field such as maths, business or economics. And the usual route is, 1. do a spring internship week 2. do a summer internship 3. do a graduate scheme 4. get a full-time job. Having said this, there are many other jobs in banking that pretty much anyone can get. And yes, apprenticeships are very common in banks - Google Barclays apprenticeship and see what comes up 😊
We need more people like you, I like open people
Thanks for this video, very useful
Wise choice would be to switch country you work in. As Junior (analyst I) I make 90k € per year for a global investment bank
Great video 🤝
Respect man, happiness comes first
Facts! Always :) Hope you're good
been watching since a couple hundred subs! came along way mate
Really? Woah that's mad.... Thanks so much, means a lot
There are quite a lot of transferable skills you gain from the finance sector. A friend of my father's was a data scientist for a long time then he broke off, this guy was getting many job offers cause of his incredible ability to automate finance through programming and statistics. He then used his amazing abilities to create a multimillion pound passive income stream.
Yeah exactly Haseeb! That sounds crazy - well done him
IBanking Salaries in the U.S. for BB progress as follows more or less.
Analyst - 80k average base + 50k Average Bonus
Associate - 150k - 500k
VP - 350k - 1.5mm
MD / Partner - 500k - 20mm+
.... speechless. That's just insane! So basically the conclusion is to work in NY not London haha 😊
Ha ha night time and day time Phil, like that. Phil, your honesty is so strong, there are not many videos like this on UA-cam, keep up the energy, no one can tell you otherwise coz they don't have that truth like you, pagans. I agree, Money can't buy happiness, but what ppl need to realise is that you used your job to fund your dreams, that's smart with money, many ppl earn alot but financial education is silly.
From this video, you are wising up the people and breaking so many taboos with finance, i. E. Talking about it, you deserve much respect for this. The deeper the foundations, stronger the fortress, you are building a fortress.
Bless up Phil and top top guy for reaching out with help to the viewers, you are the definition of what a content creator should be. More energy, more success, everything you do has a point in gain, you are a 45 goals a season type player. Keep this going bro 💯
Impact player 👑
☺️☺️☺️ bless up!
I thought this might help a lot of people - and if not, hopefully it was interesting to hear at least.
You're right, I hope this does break taboos. not many people talk about salaries in finance....
hope you're doing well! Phil
My mindset is the opposite of yours right now. I work as a design engineer in construction. Went into it after finishing my masters degree because I loved it. But now it's getting monotonous and doesn't pay so well. I regret not going into a more lucrative career like banking.
Love the honesty
Nice video!! So interesting. I’ve always found it so odd why the subject of salary is so taboo.
It is such a taboo topic. I guess it's for HR reasons (I don't know)
Huge respect for your openness and honesty Phil. 👍 Really insightful.
Thanks Mark appreciate it 👍
Anyone Want Asset Manager, Accounts Manager And Tax Manager, Audit Manager, Transfer Manager I Do Work With Safe And Secure
I think I’m obsessed with you at this point. 😶 Keep up the good work! ❤️
Hahaha too kind - really nice of you to day. 🙌🏼 Hope you're having a good weekend
Love your content
Thank you sir :)
Great video as always. You are improving a lot! Made it to the point to haha. Keep it up 👍
Yeah tried to get to the point :) haha - Glad you enjoyed it
Hi I just wanted to ask if these figures for base salary are calculated after tax or before in one tax is take
gross annual salary (before tax) - tax is taken every month :)
oh okay thank you love your videos, you got a new subscriber and just one last question, do bonuses get taxed as well? i’m just curious
Thing is in the city it's not a lot, you can't buy so you can't build equity and you're paying a premium for everything. You need to be on 60+ to even be worth it. Id say it's a great CV booster but you can make more money outside London if you're good with your money.
Watching this but then being in the "other" big financial service field in London - insurance - is slightly shocking! I know it's not apples to apples, but in the city, an underwriting assistant can start at as "little" as £23,000. No wonder banking and consulting draws the graduates!
Oh wow, 23k that's peanuts... Yeah I agree it's easy to see why the banks draw a lot of the talent from unis
@@PhilReid hey, I wanna know how to get into investment banking, do you know what percent tif applicants get in? Or how many you apply to? Compared to other people in finance what made banks pick you?
Agree as an actuarial trainee. I have earned pretty much the same as his middle/back office salary each year. Started on 32k, and 3 years in GI and I'm on around 50k (excluding bonus, which is 10% to 15%). Much lower than I bankers who start on like 90k. I also work around 40 to 60 hours a week and then study a lot more on top of that.
I work in the financial sector (investments) & our starting salaries are £17k.... The variations are wildly different between different companies
What qualifications did u need to work at Barclays ? AVP ?
Appreciate this straightforward video interesting
What did you graduate in bro?
may I ask what uni you went to? and what are the best unis to go to for investment banking in the UK?
Love your videos! I live near canary wharf and soon moving into Canary wharf I love it too for me is like living a little Manhattan 😂. I got to the end of the video btw
Awesome to hear! Yeah it is like a mini Manhattan haha
Hello. I'm actually looking for a good trader that can help me trade and make good profit, I've been seeing so many recommendations but i don't think they're trusted. Please do you have any recommendation?
Most time having knowledge or insight about a particular activity can as well be a pleasing exercise. I can boldly say that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.
That's true most people today have been having a lot of failures in forex and crypto sector because of poor orientation and bad experts
I have been seeing so many recommendations about miriam klein on Instagram and telegram trending, her strategy must be good for people to talk about her
I did invest with her and I made huge profits
I saw the recommendation but I didn't bother chatting her up I keep loosing teally i still don't understand how the forex market works tho
Love your honesty
Thanks Abi :)
Interesting to see your salaries through the years... My first jobs in finance were contracting, so got paid a bit more but without any of the job security or holiday/sick pay. Wish you well for the future mate!
You contracted as your first jobs? or first jobs in finance? I've heard contractors can earn up £1000 a day... if not more (crazy)
@@PhilReid yeh mate, got straight into contracting as my first serious job.
Yeh its not uncommon for senior contractors to earn that sort of money, I actually have heard of a few earning a lot more than that. Great money compensation but most people can't live with having 0 job security, and potentially going months/years between contracts, so not for everybody.
Anyone Want Asset Manager, Accounts Manager And Tax Manager, Audit Manager, Transfer Manager I Do Work With Safe And Secure
We in Doha am we see you, I just saw you channel and I’ll be watching all your videos cuz that’s what am looking forward to maybe we collab someday never know, keep it up bro
As someone who is going to graduate this May in economics and is looking into trying to get into investment banking, does anyone have any tips or any help as to how i can have better odds at joining those more well known/ profitable banks? Thanks
I think the first question would be, do you have any relevant internships/spring weeks?
I am currently a waiter, and I want to start working in finance and I been applying for joba in finance for entry levels, but I haven't receive any calls from the places that I applied for. I wonder if I need to get in uni and what should I study because I really want to work in finance.
You have an AP RO, might be 15400 or 15450 st. Great choice, I've the same.
I'm finishing my masters next spring, only 22yo so not much experience, but I'm trying to network into ECM or PE research at a middle market bank :) that 130,000USD first year total comp avg is juicy
yes this deserves a like
Hahaha woop woop - thanks for the like my guy 😊
What subjects should I learn to become a investment banking?
I'm 37 and went for a career change into a wealth management administration role at a bank while studying my diploma in financial advice. I was on higher wages at 18 years old working In a warehouse. Its pretty depressing
Can I ask, when you started working in the bank did they teach you that technical analysis is complete fairy dust ?
Where’d you get your hoodie though?? That’s the real question
What degree did you have to go into finance
@Phil Reid except that bonuses keep u in lock up, because if you get out before 5 years you don’t get those bonuses. Isn’t that right?
Yeah they do keep you in lock up if you leave before a certain date...
Briliant video, anyone looking at a really good paying job and don’t want to go to uni, look at becoming an air traffic controller! I love it and make pretty decent money doing it
Oh wow - never known anyone to do that before. Big responsibility (I imagine?)
@@PhilReid yeah I guess so but you don’t really end up thinking about it, really enjoyable though and definitely good working hours!
Okay, you did it. Thanks.
Did what???
Great video Phil, I've subscribed. Quality is top-notch and love the editing too, what camera do you use?
I started a social media agency in 2019 with my girlfriend and we're on target to turnover £154K over the next 12 months.
DEVINE DISCLOSURE Yooo that’s awesome man 🙌🏻🙌🏻 happy for you both :)
I use a Sony a7iii with a wide angle lens
Hmm I work for an investment bank in back office and have friends who work in front office and none of us get ANYTHING as near to those saleries. A MANAGER earns about 40-60K a year as basic salary. I am an analyst level in back office in my 2nd year and I'm on 22K basic salary with a 1.5K bonus.
How long were your hours? I know for investment bankers they can work anything up to 80hours
Hey Benn - average day was 8 - 6 ish
What are the banks views on credit scores when applying for jobs ? Currently stuck in some shit wage job which I defaulted a contract on 4 years ago and thinking of going to uni and getting a business degree. But I don’t want to waste that time and money if I would find it hard to get work.
They check credit scores as part of a screening process after you pass the interviews. Defaults are a problem but they come off your record after 6 years. Good luck.
I'm 22 freshly graduated. I want to get into investment banking. I dont really have that much experience but I'm willing to learn. I'm currently taking time off to pursue a CFA level 1 certification.
Indians are everywhere
@@DeepakSharma-mn6ot yes, we are.
What A levels did you take?
Where did you get these figures? Glassdoor?
Combination of glass door and research papers / articles
IB salaries sound great till you look into the equivalent hourly rate and then it is closer to minimum wage. I’ve worked till late (post-midnight)!
I fully agree. The same goes for Brazil. An Investment Banker earns a lot of money here, but the salary/hour rate is quite low
Sooooo true man
How much managing director make per year
Thanks for your sharing.
My pleasure - hope you enjoyed it
Mate.. these videos are what people really want just like the first videos on the channel but now with your editing skills and being that confident in front of the camera these things can really be the key to make the channel grow as it deserves. The vlogs are also cool but these things about banking jobs are amazing!
Appreciate you saying this - I really want to get a good balance with what I post. Thanks for the kind words though. I think my editing is better for sure
Anyone Want Asset Manager, Accounts Manager And Tax Manager, Audit Manager, Transfer Manager I Do Work With Safe And Secure
can confirm it's on the money in terms of numbers for the basic salary. Bonus was a little on the optimistic side. We now have them capped as a lower max percentage of salary basically until managing director. I would say the figures here were basic plus 1/2 of the bonus figures quoted
Oooh this is interesting to know - thanks for the update! appreciate it
Hey, im interesting in getting into finance but I'm wondering what sort of degrees would work? Would I be able to get in with any STEM degree? And how much would I realistically be getting in the first few years? And what is the work like, is it intense or more relaxed? Thanks a lot
Interesting perspective, first role was at a major institutional asset manager in the city!
I think the serious difference between IB and AM is simply the bonus structure, we got fundamentally the same regards base but certainly bonuses never breached 35%.
I find deal advisory fascinating, but think I ultimately prefer buy side multi asset analysis!
Cheers for the video, I found you though watches - never realised you where in finance.
So how do you support living in canary wharf, not cheap, having not worked for a couple of years? UA-cam surely can't be generating enough income yet?
Nice stuff mate, I'm currently starting my second year at a bank. Potentially looking to move elsewhere in search of a payrise and a job that better suits me - whats the best way to go about it? Would love an analyst job at HSBC etc. Any tips or advice would be appreciated
Use recruiters, at junior level they can get you most jobs
@@johnh7727 that's how i got this current job funnily enough