My dad used to be an MD at a very very large firm, and I’ve got to say, 80 hours a week is just clocked in… including overtime most will sit at around 100 hours
You do realize they just graduated from essentially learning how to create money for lack of better words? They work in the same type of industry, and they get paid far better than most other industries with high pay (doctor will work 100hr a week and maybe make 3-400k cap, and IB can become a partner of start their own firm and also work 100hr but make 1 million a year. You either want financial freedom in a world where like it or not that’s the game, or you ignore the game and live a “normal” life of bitching about inflation, gas prices, not getting paid enough, can’t afford this, can’t go there, but hey footballs on! I’ll take my chances making enough money I never have to think about a job again. It’s not hard to pay off 500k when you make 200k (after taxes) and make a living by being smart with money.
They work 80 hours a week so you have to divide the salary by 2. Salary wise, tech workers in Big Techs make much more than them easily with a chance of going very big. For example, Nvidia employees are now millionaires due to the stock appreciation.
Yea it doesn’t sound too good at that level but if you tough it out for 2-3 years and get promoted, you can get paid much higher working much less hours. If you do not want to stay in IB, exit opps are also really good.
This is not realistic. Only few firms in nyc and maybe sf pay this much. Also some associate roles require 2 years of analyst experience. 99% chance from Ivy League background. Lastly, bonus is tied to how well the deal making is as well. There’s prob like 100 job openings at the associate level across Wall Street on a good year so there is not a plethora of these opportunities. I’m from the investment banking world btw
you have to work 80 work weeks if you want it bad enough. you work 80 hour work weeks for a couple years to make enough to become independent for a lifetime and allow yourself to have easier work weeks.
@@ryzenx5279 You can always find ways of getting around taxes for corps, but as an employee, there's no good way to get out of paying the rates. The employer will always report what they're paying you to cover their end, so there's no good/legal way to not pay your employment taxes
Yes, this salary is most likely first year MBA graduates, you would make closer to the lower end of an associate salary low being $140k-$150k with-ought an MBA, and would have to work 1-2 years as an analyst first at around $80k-$120k before making the $175k talked about in this video. Total comp depends on your performance with the company, assuming you do well you would receive $150k end of the year bonus. Bonuses in IB can usually range from 50%-100% of your base salary. Sign on bonuses can depend on your work experience, where you got your education, and in competitive roles such as IB these sign on bonuses are given to initialize a connection between the company and employee as it usually includes a 1-2 year working contract and shows both sides that they are committed to having each other, a lot of IB employees are also just out of college, graduates who need a financial cushion or to have a few months of rent money just in case.
CFA won’t help with IB at all. That’s like studying accounting to become a pilot (I have completed all 3 levels and now kinda regret wasting my time over them cause IB is really where I should’ve tried rigorously since the past few years)
Showing proficiency in accounting is a good thing when working in finance but without knowledge of accretion dilution math, discounting cash flows, valuation methodologies, IPO pricing and prospectus writing or other types of financial modeling you won’t get hired. Hope that helps!
Not worth it. Go to get an MBA = 2 years and -$250k. Instead, break into tech. With 2 years of experience you have no MBA debt and are probably making ~120k. By year 4 you should be comfortably making ~200k+ and working ~50 hours a week. You can then build a business on the side instead of giving your entire life to IB.
It can't be replaced by AI due to the intensive research and client interaction,it requires not just analytical skills but also more of communication and understanding client/user requirements.
BIG LOL, talk about take home pay, frozen bonus, and cost of living in NYC, average housing at $5000/month. You like to throw flowers at each other but you are ultimately slaves to the system. I myself am an expatriate engineer in Switzerland, and I can tell you that his salaries are beautiful only in gross
median rent in NYC is 2100$. Its funny how you living in Switzerland trying to insult this guy and lying about rent. Switzerland is much pricier than NYC and earning 5k$ per month in NYC is like earning 8k$ in Switzerland. Dumb country with dumb prices and strickt rules and poor apartments that were built from paper.
Expatriate engineer isn't a job. It's just an engineer who works abroad. And if you're not european, you most likely are lying since you have to know how to speak a bit of france or german in order to work in Switzerland.
9700 a month after tax just on the take home. Even if you live paycheck to paycheck on your monthly bills then you have a nice 75k after tax as “savings” thats how I would do it.
First of all I live in a nice 2 person apartment in NYC near my job for 3k a month just recently and am also an investment banker, I with a slightly less salary, i have almost 40%-50% of salary saved. Also if ur an expatriate engineer (US working in Switzerland) which u likely aren’t, you still have to pay taxes as an American citizen, along with the fact you make significantly less at similar career times.
Casually throw in an 80 hour work week
That’s unfortunately how much they work a week lol
It's even more than 100 hours that's why many quit
My dad used to be an MD at a very very large firm, and I’ve got to say, 80 hours a week is just clocked in… including overtime most will sit at around 100 hours
Ain’t nothing casual about it, IB is notoriously known for lack of WLB
Why are you guys complaining there’s plenty of people hungry enough to take those positions And hey they get payed a pretty penny
the break out per hour 😂😂😂 & subtle 80 hour work week mentions brutal
Most analysts work more than 80 hours
People work retail jobs for 60-80 hours and dont make nearly as much
@@EliCantSk8if you work a retail job for 60-80 hours and make less then 150k get out
Pay with NYC cost of living, pre-tax, after paying for an MBA in post tax-dollars, and losing your hairline by your 30s
i'd rather be bald than to work 25 years longer
Middle class Indian thoughts but ye firangi nhi samjhenge bhai scarcity of money 😂@@SurajPandey-vi9gr
You do realize they just graduated from essentially learning how to create money for lack of better words? They work in the same type of industry, and they get paid far better than most other industries with high pay (doctor will work 100hr a week and maybe make 3-400k cap, and IB can become a partner of start their own firm and also work 100hr but make 1 million a year.
You either want financial freedom in a world where like it or not that’s the game, or you ignore the game and live a “normal” life of bitching about inflation, gas prices, not getting paid enough, can’t afford this, can’t go there, but hey footballs on!
I’ll take my chances making enough money I never have to think about a job again. It’s not hard to pay off 500k when you make 200k (after taxes) and make a living by being smart with money.
Actually on 200k you have pay 10 percent tax so that 20 k I don't know about 175 k but you could easily reduce the money easily
That’s your first year the pay gets exponentially better the longer you go.
You lost me at 80 hours a week! My time is more precious than money ! I’d rather make $80,000 working 40 hours a week.
Eh if you’re old yeah. But making a ton of money young and investing will get you freedom for the rest of your life. Just mutual fund and chill
They work 80 hours a week so you have to divide the salary by 2. Salary wise, tech workers in Big Techs make much more than them easily with a chance of going very big. For example, Nvidia employees are now millionaires due to the stock appreciation.
Making 375 k a year doesn't sound to good if you don't have time to spend it.
u can invest it and retire early
Yea it doesn’t sound too good at that level but if you tough it out for 2-3 years and get promoted, you can get paid much higher working much less hours. If you do not want to stay in IB, exit opps are also really good.
@@australianpatriotyeah but then once I get the benefit, everyone else is working too. Can’t enjoy it with friends as much
@@milesbarksdale2446?????
Well the idea isn't to blow it all, it's to invest and thereby retire 20 years earlier than everyone else.
This is not realistic. Only few firms in nyc and maybe sf pay this much. Also some associate roles require 2 years of analyst experience. 99% chance from Ivy League background. Lastly, bonus is tied to how well the deal making is as well. There’s prob like 100 job openings at the associate level across Wall Street on a good year so there is not a plethora of these opportunities. I’m from the investment banking world btw
in chicago im pretty sure you make like 150k but with way less hours from what ive heard
@@creepynutsrl Baird in Chi has associates starting at 200k
Is there any chance for premba?
Idk I’ve heard of similar comp in Houston actually!
about 80 hrs a week is insane hahah
No no no 😂 don’t pee on my hand and tell me it’s raining with that 80hr work week 🤣🤨 coke again .. i mean come again?
2 weeks off for an associate? Lol. No junior bankers i knew took vacation.
you have to work 80 work weeks if you want it bad enough. you work 80 hour work weeks for a couple years to make enough to become independent for a lifetime and allow yourself to have easier work weeks.
I make the same in FAANG and work 4 hrs max a day
How long does it take to get an mba, and what age does do you start from the UK? Is it straight out of a level?
And then tax
Where the duck is the 40%-50% income tax
Since your an investment banker I’m sure you can find a way around paying tax
@@ryzenx5279 You can always find ways of getting around taxes for corps, but as an employee, there's no good way to get out of paying the rates.
The employer will always report what they're paying you to cover their end, so there's no good/legal way to not pay your employment taxes
Does the compensation vary from post-mba and just ranking from analyst to associate within the firm?
Yes, this salary is most likely first year MBA graduates, you would make closer to the lower end of an associate salary low being $140k-$150k with-ought an MBA, and would have to work 1-2 years as an analyst first at around $80k-$120k before making the $175k talked about in this video. Total comp depends on your performance with the company, assuming you do well you would receive $150k end of the year bonus. Bonuses in IB can usually range from 50%-100% of your base salary. Sign on bonuses can depend on your work experience, where you got your education, and in competitive roles such as IB these sign on bonuses are given to initialize a connection between the company and employee as it usually includes a 1-2 year working contract and shows both sides that they are committed to having each other, a lot of IB employees are also just out of college, graduates who need a financial cushion or to have a few months of rent money just in case.
I live in Virginia, and if I work 80 hours a week, I would make $156,000. That's equivalent to $408,741 in Manhattan
im looking to earn an mba in econ? is this a good path in becoming an investment banker? 😊
Tax…..
I’m studying for my CFA
Same~
CFA won’t help with IB at all. That’s like studying accounting to become a pilot (I have completed all 3 levels and now kinda regret wasting my time over them cause IB is really where I should’ve tried rigorously since the past few years)
@@Thisismyyoutubechannel69hey can u specify like what skills and certifications would help ? Especially what skills should we focus on?
Can we have communication for example in telegram? I'm also studying for CFA
@@Thisismyyoutubechannel69so which skill and certification did we really need for IB, I'm really need it
I have a question. I’m going for my MBA in Accounting. When I graduate with my Degree can I work in Investment banking?
Yeah just interview well
useful skill to have, but do you also learned any finance units? concepts can be hard to grasp if you don't
Unlikely. An accounting MBA is very different from a regular Master of Business Administration.
Showing proficiency in accounting is a good thing when working in finance but without knowledge of accretion dilution math, discounting cash flows, valuation methodologies, IPO pricing and prospectus writing or other types of financial modeling you won’t get hired. Hope that helps!
@@MH-0101 pretty sure an Accounting MBA would place higher than a general MBA in all Finance related jobs.
Thats only for BBs though
What is BB
@@richhh7772Exactly
Not worth it.
Go to get an MBA = 2 years and -$250k.
Instead, break into tech. With 2 years of experience you have no MBA debt and are probably making ~120k. By year 4 you should be comfortably making ~200k+ and working ~50 hours a week.
You can then build a business on the side instead of giving your entire life to IB.
These salaries are before taxes?
yes
@@Pasi2580 Thanks!
Where do u look for available spots and positions?
Get recruited out of Business school or become an analyst for 2 years. Few jobs posting for associate. It's a promotion from analyst usually.
Isso aí não dá nem pro sucrilhos
But is investment banking future proof? Why ai replace it
😂
It can't be replaced by AI due to the intensive research and client interaction,it requires not just analytical skills but also more of communication and understanding client/user requirements.
80 hours a week? You mfers are crazy.
BIG LOL, talk about take home pay, frozen bonus, and cost of living in NYC, average housing at $5000/month. You like to throw flowers at each other but you are ultimately slaves to the system. I myself am an expatriate engineer in Switzerland, and I can tell you that his salaries are beautiful only in gross
median rent in NYC is 2100$. Its funny how you living in Switzerland trying to insult this guy and lying about rent. Switzerland is much pricier than NYC and earning 5k$ per month in NYC is like earning 8k$ in Switzerland. Dumb country with dumb prices and strickt rules and poor apartments that were built from paper.
Expatriate engineer isn't a job. It's just an engineer who works abroad. And if you're not european, you most likely are lying since you have to know how to speak a bit of france or german in order to work in Switzerland.
9700 a month after tax just on the take home. Even if you live paycheck to paycheck on your monthly bills then you have a nice 75k after tax as “savings” thats how I would do it.
First of all I live in a nice 2 person apartment in NYC near my job for 3k a month just recently and am also an investment banker, I with a slightly less salary, i have almost 40%-50% of salary saved. Also if ur an expatriate engineer (US working in Switzerland) which u likely aren’t, you still have to pay taxes as an American citizen, along with the fact you make significantly less at similar career times.
@@blakeskolnick6750 40-50% of salary including bonuses?
Does that account for over time pay (x1.5)
I can always count on my Chinese friends to do the math👍
these low quality reels really detract from your otherwise helpful long form videos
These reeks are very helpful and give important information I’m seconds, I love them
Ha. "Don't contribute" or "are redundant" maybe, but actively detract? lmaoo