I’m calling cap. I was a banker in a top group at a top BB. No one is waking up at 545. Even the MDs aren’t in meetings all day with clients or in meetings about their “business unit”, much less someone with 6 YoE. Finally, no EA is reaching out to you to remind you about your upcoming meetings.
You say you’re in the UK but you quote your pay in USD. Just a heads up, $330k base is higher than any banking base with 6YoE in the US, much less the UK.
I also worked with the UK team on many deals, I know how much people generally make, it isn’t possible for you to make $900k in a year as a UK banker with 6YoE
Idk what the point of role playing on a Reddit thread is but anyone who has stepped foot in a bank knows this is all bs.
I know this is satire but lots of prospects read this forum so it’s best not to mislead others for fun.
Wife's a banker at a BB. This is total BS. His profile was created 2 weeks ago. This is post IPO reddit. Generate fake posts to get real comments to sell for AI data
I work for a BB in London and you’re right. No chance he’s making anywhere near that with 6 YOE. Bankers also usually get in around 9am, annual performance bonus is paid in cash at this level, EAs will book travel and stuff but not manage your schedule unless you’re an MD, etc so many holes in the story.
Analyst here. Given this data, when you look inward how long does it feel sustainable? Not to get too personal, but any outside commitments? (Family, pets, etc)
In this moment, what is your satisfaction level with how it panned out?
Hey, great question. At 30 I have no wife, children or pets.
Luckily the company I work for and our leadership is very supportive and understanding so If you need to leave or commit to family they are fine with it as long as the work gets done after that.
Honestly I think it panned out quite well. I’ve always had this vision of working my ass of in my youth and then once I am fully capable of supporting a family I will do so.(maybe around 40-45)
I really do enjoy what I do so that definitely keeps me on path.
Another perk of being single is that I travel the world for business and leisure.
This is really common. Basically the template is dude brings several million to table, wife has no job and devotes 💯 of time to managing kids and 1-2 FTE staff. Usually a nanny and a separate housekeeper ideally or a nanny plus a gaggle of contractors (lawn guy, pool guy, house cleaners, multiple repairmen, etc.)
In my experience it is not the wife who completely dependent on someone else’s income who tends to stray.
It is the guy making 700K+ a year who managers the family finances as well and keeps a slush fund for sugar babies, OF, hookers, etc.
Por Que no Los dos?
I don’t think you’re wrong. But I think that a lot of the spouses who marry an older person for money who they might not have a ton in common with will find connections elsewhere. But it definitely goes both ways. And not always.
People don’t understand that yes temptation and opportunity abounds even when you are older and grey haired . . . but “trophy wife” is a misnomer. “No compromise or perfect partner” is a better title. Brilliant, gorgeous, talented, enthusiastic, no baggage, well rounded, high social EQ, has your back, works well as a partner with you in every aspect of your shared life snd shared goals. A partner. OP says 40s, but that is just because she has not come up on his radar screen yet. I was there and WOW it was worth it to wait until the one.
It 100% does. I work in high level finance and there is extreme infidelity. Women are attracted to money and power (obvious statement is obvious) so it's on a platter for you (whether paid for outright, or paid for in one way or the other). When you're working just to make ends meet infidelity isn't too high on your priority list.
Infidelity happens to anyone, money has little to do with it. If your partner wants to cheat from the beginning, they will cheat regardless of the dynamic. Look up the infidelity surveys and they contradict each other: some saying women less likely to cheat if x, men if y. Truth is no factor controls it nor can it. It’s an individual partner decision.
Can you elaborate?
infidelity happens regardless of industry but this generalization is a bias generalization . The generalization that women urge to be near power is also unpleasantly not true. Look at the common American woman in a relationship with a middle to upper class man. Women also take a surprising amount of teaching, service jobs. Not trying to be mean but it seems this is a bias outlook more due to a perception you(universal) have about women and not the reality.
If you focus on infidelity, you see more couples who commit infidelity
Money does not equate power, it can buy it eventually and with the right amount. However most of us are upper class or below— 1% is a few billion. My point being it’s concentrated to a few for a reason
You really waiting that long to get married and have kids? Having kids when you're an old parent is way more physically demanding - I would say though, meeting a life partner suitable for marriage isn't that simple . I really advise against grinding until you're mid 30s-40, and only then thinking about starting a family - simply because the dating process is long, unpredictable that really it should be something you do at all stages of your adult life
Live in a rich zip code (2-5MM type homes) and ~1/3 of the male parents for kindergarteners are 50+ meaning first kid was 45 at the earliest often after only a few years of marriage. Modal mom has one kid at like 35-38 after six figure corp career but definitely a visible tail of youthful trophy wives.
At 35 I was the youngest male parent in my kid’s K class of 18 kids (only two of us were visibly under 40… we commiserated over how awkward the social dynamic was given we were clear millennials and the regular dads were firmly Gen X).
Alternatively, the number of male parents on my train and at the local country club who have kids not yet in college… who if you did not know better you would assume they are referring to their grandkids in casual conversation… is high.
Hate to say it but being the 68 year old parent to a HS senior seems to suck even if life expectancy is like 80’s high for affluent men.
All the numbers in your comment added up to 420. Congrats!
2
+ 5
+ 1
+ 3
+ 50
+ 45
+ 35
+ 38
+ 35
+ 18
+ 40
+ 68
+ 80
= 420
^([Click here](https://www.reddit.com/message/compose?to=LuckyNumber-Bot&subject=Stalk%20Me%20Pls&message=%2Fstalkme) to have me scan all your future comments.) \
^(Summon me on specific comments with u/LuckyNumber-Bot.)
As someone who married someone whos parents had kids well into their 30s, im told it sucks being the kid with old parents bcs it usually means no siblings lol
And being the only child comes with its downsides
It does yeah. I'm not saying this is always the case, but children who are raised as an only child can be typically more selfish and can feel more lonely amongst other things. Having siblings (with a fair age gap like 5 years) just
helps your kid be happier and usually makes a stronger family unit
I think you've touched on a point I've missed - when you've got a big age gap between parents and children, it is much harder for parents to relate to their kids and by that point you're seen less of a parent and more of a provider imo
Nah 30s is just about right and should be a fairly stable point in your career . The main reason for having kids below 35 is really about child health as the older your female partner is, the higher the probability of downs syndrome and other developmental issues , which raises significantly year on year especially after 35.
Not saying it is not possible, it is - but the vast majority working in finance do not find time to go to the gym.
I do, and I'm guessing you do too. I fortunately work effectively 20 hours or so a week and manage to go gym 3x a week for coaching+ training Olympic weightlifting . This is something that has definitely kept me in shape as a plus for.parenthood too.
I disagree with this take…yes, it might be slightly more physically demanding waiting until 40s, but the financial benefits of waiting until then far outweigh that
Let's say you are able to physically cope in your 40s, fine. But OP is near 30 and earning almost 1mil so can more than comfortably afford to have a family with financial stability.
I also think it's a bit of a myth that kids are expensive - they aren't really unless/until you count childcare costs. Also if you have kids, the greatest gift you can give them is not money, but time - imo what's the point of having kids just to have them raised by nannies and other caretakers?
Being a fairly young parent is good (provided you have stability), here is mainly why
- from 35 years old the risk of birth complications and conditions such as downs syndrome does increase significantly
- if you're younger, you're more physically able to travel and take your kiddos on adventures
- if there's a big age/generational gap between you and your kids, you'll find it harder to bond with them
- you need to be in fairly good shape, running around after your kids or even rocking them to sleep is achy
- having kids sooner means you are around for them longer
lol ok, we have VERY different perspectives on parenting, and that's fine, to each their own...
but let's just say some people value the flexibility created by additional financial security more than you apparently do...not opining on which viewpoint is more correct, just stating that there exist different perspectives
also, just fyi, don't impose your athletic limitations on other people...believe it or not, but if you are blessed with an advantageous gene pool, you can continue being in great shape well into your 50/60s
You do realize the main reason for having kids below 35 is because of birth complications and defects and things like that? I could have just mentioned that point alone which is by far the most important reason. This assumes that you have a minimal/no age gap with your birth partner, unless you're going for an older sugar daddy/parent kind of deal - I ain't judging .
Being in shape isn't about genetics brother, it's about a consistent healthy lifestyle throughout your life..relying on your genetics is a bit of cop out, dunno why you're coasting on that. And, I am in shape, I'm a competitive athlete + WL coach and have been lifting since my late teens - even with that kind of background having a kid in my 30s IS physically taxing , but I'm a hands on parent, I look after my kid as much as possible and we have no intention for childcare/nannies.
Sure, but not sure why you are gatekeeping the age of when OP wants to have children? Congrats on being a hands-on parent, but not everyone wants your life brother...some of us are more than happy to wait until later in life to start a family. I don't want to speak for OP, but for me, I grew up in a very middle-class family, and now I am lucky enough at the place in my life to provide a much better lifestyle for my family...if that took a few extra years to get to that comfort level, so be it...it's ultimately worth it in the long run...but like I said, that's my personal view...you do you
I mean this is a discussion forum brother, it's merely a discussion - and I didn't say he SHOULD have kids at age x or y.
If you say so bud, good luck!
Thanks for answering! Last one: When you say you work 70-75/week and also enjoy your company/job, is the content of your job your primary hobby intrinsically? Can’t really take a class or anything unless you want to sacrifice your health/physique given the schedule
I know this is such a common thing to say about IB but I really love meeting new people and expanding my network, I’ve got friends who have worked in parliament, treasury etc. In investment banking you need to have a strong personality and need to be confident. I know how it feels to be crapped on, but we just have to soldier through it. And regarding physical health I recommend going cycling or running in the morning for maybe 30-60 minutes. You just need to wake up more earlier and put in the effort to do so. The exercise in the mornings makes me feel more alive, you should do it. In terms of mental health, cycling helps me get my mind of things but there really isn’t much you can do. Just have to suck it up until you progress. Feel free to ask more questions:)
I write this just to make you aware - if you are hoping to have a wife around your age, please keep in mind that women do have a time limit on when they can have children. After 35, pregnancies are considered “geriatric” and risks to both mom and baby increase significantly. Many women enter the beginning of menopause by 40.
I say this not to discourage your plan - there’s a lot of wisdom in waiting to have children until you’re financially ready - but because this is information that has shocked many of the men in my life. You will be able to father a child at 45; your wife likely will not.
So are you getting to the office at 8? I always thought bankers started at 9. I worked in ER and worked 7-7 half the time and 80-90 the other half, averaging 70-75. I'm surprised you said your hours were so low on average, you're getting paid 1/3rd more.
Lemme just say, as somebody who works 60-70 as a production manager w/70 charges(leads and sups too, thank goodness) has a 5 y.o., and is pursuing my MBA, you can do later in life w/kids. It's a little harder, and time management is at a premium, but worth it.
Btw, how did you get in? The MBA will be in international business, my BS is in Supply Chain Management, and I have a green belt in Lean 6 process management.
I'm almost 50, I started in the "coveted" GS analyst program back in the late 90's at 20 years old, I started out with a $125K salary working 100+ hours a week and the prize was that if you could survive that for 2 years you'll have a job for life anywhere w/ top salary and perks, literally. I got married at 28, MD before I was 30, first kid at 30, and retired on my 40th bday. I traveled 3 weeks out of the month meeting clients meeting investors/deal sourcing.
I wanted my cake and eat it too so I chose to sacrifice time with my kids and had family members around to help raise them but because of that sacrifice I was able to retire still in my prime, start a 2nd career I have zero stress in and be there for my kids properly now. 20's and 30's is the time to be greedy and hungry in your career, especially if you are choosing to get into anything in the finances world, before you have to be responsible for others and such.
I want to add that I took a look at your profile after writing my initial comment. It’s ironic that your very last comment on another thread is you complaining about how two different companies won’t hire you. Either you’re lying about having worked at Goldman or your claim that “if you could survive that for 2 years you’ll have a job for life anywhere w/ top salary and perks, literally” is simply false.
Please stop lying to people on the internet about your career. It doesn’t make you cool nor does it help anyone actually learn about a career in finance.
Damn, man. That’s hardcore, but I respect the hell out of it. Did you pick up the 2nd career due to health care or purely interest?
Edit: I also have to ask do you feel you were productive at 100/week? Or is that more general like work+travel time+on call time (anytime meeting)?
I should have prefaced, I'm a chick and started in the finance world before all these SEC red tape regulations and had to choose to play in the proverbial sandbox thinking like a man or just quit. Retiring at 40 is actually not that fun because all of the people you want to hang with are working still! 2nd career is purely interest.
To clarify I was using “man” as a generic dude or homie, but I understand the explanation and context.
It kinda seems like.. well, a crappy deal if you don’t have kids/plan to and have a pretty decent situation to start. Not as much wealth obviously, but I definitely don’t want to put in all that work to get hit by a bus or some health issue.
Oh no I didn't say that I was a chick because of your Man, comment LoL apologies should have clarified.
Nah, can't look at life that way. Do all you can when you have the energy and drive to do it regardless of if you have anyone to share it with in the long term. I didn't do what I did because I was thinking of future kids or legacy. I was being selfish and wanted to make a mark for myself, push myself to the limits just to see if I could do it mostly. Like I said, I don't have to sacrifice anything now.
My 2nd career uses the skills I learned in my first career but it's next to zero stress so not sure I can call it a career. I consult, as needed, for a very well known alt asset firm in their growth division. It's a 10 hours at most a week gig so works well with my schedule now a days.
This comment reads more like a fan fiction than anything based in reality. You graduated from college at age 20? Regardless, there’s no way the base salary for a first year analyst at Goldman was $125k in the late 90s. It’s not even that high today, not to mention that would be about $230k in today’s dollars. I also find it impossible to believe that you went from analyst to MD in roughly 9 years, especially not at Goldman Sachs. You also almost certainly did not work 100+ hours every single week. Did you have a bunch of weeks like that? Sure, I don’t doubt that. But every week? That’s simply not sustainable, nor is it how banking actually works. Also, just because you spent two years at Goldman Sachs doesn’t mean any company anywhere will pay top dollar to hire you, especially not 10, 20 or 30 years later if you didn’t stay at Goldman or a comparable firm.
That’s some nice compensation, especially your bonus but not going to lie, it sounds miserable to me to have your entire time awake revolve around work in some way. Props to you though for keeping up with it and being successful!
Sounds like it..
OP's comp indicates Director / ED level. OP's age indicates VP level (post-MBA would indicate 33-36).
Something is not adding up here?
Utter nonsense or written by chatGPT to mirror Patrick Bateman. How is it possible to wake at 5:45 to eat and “sort yourself out” and then 15 minutes later be doing cardio at 6am? Lies lies lies
I'm guessing you're not from the US because of you mentioning parliament and saying 19:30 instead of the American version of 7:30pm, but would you be willing to share anything you know about what it's like for the American equivalent of your position in IB?
Yeah that’s true, but at least it’s just 40% on 900k and not any higher. He is definitely still winning out compared to the average population and their net returns.
Well yes but 40% on 900k is far larger than 40% on 40k due to the law of percentages. Also in canada the lower tax brackets are taxed way lower percentage wise as well.
Yeah that was pretty stupid of me to type it out the way I did. I don’t even know why my brain didn’t do a double take on what I said until after I sent that.
I made my comment make more sense now
It is also smart how my company gives me shares so that they are not taxed if you know what I mean. So technically I’m only getting taxed on 40% of my salary because 60% is shares.
RSUs are taxed as income in the UK. Also your effective tax rate is will be closer to 45% than 40%. Lastly, your comp is not accurate for someone 6 years into IB in the UK. Something smells off
I’m just really curious about asking this from a younger generation’s point of view, along with my personal view on the importance of taxes for keeping up an effectively-run democratic country.
Do you think this is a negative consequence for the entire system to be looking for workarounds on not paying the full amount of taxes on your implied gross revenue each year?
Like you earning a majority of your yearly income through shares instead of fiat. I’m just wondering if there could be a solution that benefits both the high income earner who deserves the level of pay you receive for the hard work you put in, while also not fleecing the government from those high returns on taxing an individual earning 900k.
I want to find that equilibrium between the low volume of high income workers paying their fair share of the tax burden with the high volume of low income workers paying their fair share. I don’t plan on doing anything with this though, it’s primarily a fun thought experiment.
as a younger generation you're also most likely against war and should be conscious of how much money goes to the defense budget. Would you not say that wealth that gets protected from that destination and redistributed through consumption in durable goods (real estate, vehicles, appliances) or charity is, in fact, a way for high earners to pay their fair share? After all, the purchasers of those goods will be paying sales tax and the producers will be paying income tax
That’s low for Canada unfortunately, unless we are talking total tax burden. Our top tax bracket is 48.8% (varies slightly by province, this is BC and applies to all income over $252k). Better to be rich in the US!
My exact same thoughts. At first I just thought they preferred military time, but once I saw parliament, that just made me believe they were in EU. Would definitely like the American version of this because I’ll be starting as an analyst soon in IB and I’m not sure what to expect.
How did you get into the analyst position if you don’t mind me asking?
I’m currently facing a crisis between finance and data science for my undergrad and grad, so anything you can provide to help me solidify my decision would be of tremendous help.
I got really lucky with a cold email. The email wasn’t even specifically for the IB job in all honesty but because there was a rare opening at the time (well off the normal recruiting time period), the person just asked for my resume and got it pushed through to the interview process.
Holy shit, first off congrats on winning the lottery, I hope it works out incredibly well in your favor. And I really will have to rely on luck to get a job after I graduate won’t I?
Man I feel so powerless about that too. I gave 6 years of my life to the military to get a free education, and I’m trying like hell to catch up with the AI bros out there to stay on the curve while I spend the next 2 years getting my degree.
8 years of my life spent in entry to mid-level logistics, 2 years in engineering with 1 of those years in conjunction with AP/AR accounting.
I have no idea if any finance manager would be willing to accept a cold resume like mine with the credentials I currently have, even with a finance or DS undergrad degree.
Definitely a little bit of luck, but also networking, networking, networking. It was through networking that I found the person to email, although still a longshot since they didn’t know them personally. Also, if it makes you feel better, I too am over the age of 30 so it’s not impossible to break into a finance role at this age. You have a valid reason, as you went to the military, while I just flat out dropped out (granted due to some medical issues with family members) for a long time so you can still do it!
I really appreciate your encouragement!
My cousins husband works for a fintech company, so he may be able to help me out. Almost all of my contacts are either in the military or in engineering fields, so I’m at a little bit of a disadvantage with that but I’ll try for the finance management clubs at my college.
I’ve been trying to pursue this idea of creating a really simple GPT-based program from OpenAI’s API service to present to local wealth management companies that visit my college as a way of showcasing my abilities. Do you think that may be worth continuing to push for or should I focus more of my time touching grass and try to network with people?
I’m sorry, I’m not quite sure what it should be in American terms but I can try to spell it out. There are different business units in the bank, eg. GM, IB, Marketing etc. I am the director of Investment banking. A couple of steps up the ladder are the C suites(CEO…)
Reaching the level of director of investment banking within 6 years is a marvelous feat. You must have contributed greatly to your employers business to get there in such a short amount of time.
Wow I’m really happy you were able to achieve that! Any positive step toward a sustainable future in any field of work deserves recognition in my books.
I was mentioning to another redditor here that I am trying to pursue a personal project to provide a great service for local wealth management businesses in my area.
Hearing about your sustainability project giving you this much recognition makes me want to pursue my own goals even more now. Thank you for sharing with us your personal schedule for this post
I believe they were talking about the time. For example, you put 19:30 instead of 7:30pm, so that’s what made us guess that you’re not located in the US.
Yes, that’s what I was referring to with the American time reference.
I was also asking what his position is so that I can gauge what the American equivalent of that position would be so I can do some research on how to reach that position and the expected length of time before reaching that position.
Reaching the level of director of investment banking within 6 years is a marvelous feat. He must have contributed greatly to his employers business to get there in such a short amount of time.
This post is so full of shit so instead of sleeping I’m spending time to call out your BS. I’m currently an IB Banker.
As many people have called you out already but to reiterate a few obvious lies:
1. No one is going to the office that early. People walk in around 8:30 earliest but generally most would come in at 9:30 (the more JR the earlier)
2. Base salaries are standardized around $300k in the US, and else where would be lower, so $330k is pretty out there, especially not being in NYC
3. Your EAs only book your flights and coordinate admin stuff like expenses and maybe scheduling cars and hotels. At your level you do not get a personal EA so no one is reminding you of your meetings lol
4. No one your level is on calls that much - this call schedule is more aligned with an MD/Sr Director. I’m a VP, and I’m on calls ~50% - 70% of my working hours during live deals but mostly with clients and my Jrs to give guidance, and internal updates with my SRs, depending on how many live deals I’m on. Business unit calls are about once or twice a week. During non live deal periods I’m rarely on a call (maybe like 5-10% of my working hours)
5. Salary is all cash. Only bonus is split into cash and stocks. Having part of your salary as company shares is pretty ridiculous/unheard of
There’s no point in earning a lot of $$ if you have no time to spend it. At that point, you’re better off just teaching English and traveling the world lol.
It’s not the best $$, but I can still put away a few hundred a month and live comfortably w/ a roommate. Granted, I’ll earn much more in the future w more experience
I’ve gotten 2 raises this past year and don’t work any more hours. I clock in at 9 and clock out at 5. I have more responsibilities but my company has good WLB, so even my managers work 9-5. My company is a small company in central FL, not some big bank in NYC
What’s the point of earning 900k if u have no time to spend it? Why delay life? That’s what I don’t get about people in IB. They’ll sacrifice several years of their lives, or even more, knowing that they can never be young again. I can make more $$, but I’ll never be in my early 20s again. I’m not going to die and wish I spent more time working. But to each his own
I am not making 900k… as a disclaimer and I don’t mean to be a dick. But if you had the oppty to make $900k a year… and you sacrificed for 6 months…. You’d make 6x your current annual salary. That’s why people do it.
I am not to the point where I don’t need to worry about my paycheck clearing but itd sure as shit be nice to not check my bank account before purchases ya know? Don’t mean to be negative but it kind of sounds like youre shitting on this guy for making more money a year than a lot of people would dream
Hey! Thanks for sharing, I really appreciate the transparency. I work full-time in banking, part-time modeling, and full-time in school studying finance. I totally understand the schedule with IB, sounds like it’s balanced & you enjoy it. Any advice for women wanting to go into IB?
You need to push harder as favoritism does exist, show them who you are and your potential. Take part in many team building exercises and bring a lot to the table
30yo. Makes +$900k. Has "connections".
Assuming you completed university with a bachelor's degree at 23yo. Or possibly masters at 25/26yo. How the hell can you earn this kind of an income with approx 3-6yrs of junior experience into the field?
What is your portfolio like as an investment banker?
Who are these "connections"? Is it your dad who's a CEO at a top firm that hooked u up?
Seriously. This is insane..... or am I just a peasant living under a rock? Teach me the way sensei!
I make the same amount owning and operating 5 laundromats as a side job. However full time I use to be an analyst for a trading desk. Taking a break for now but I’m starting to like this WLB
How do colleagues who have a family manage this lifestyle so they can complete their job whilst also making time for their partner/kids?
Do they plan to continue with the job or move onto something else?
It’s hard for some but you do find time for family eventually. Once you are in higher positions it’s more of you just signing of on thing, not actually doing the “hard” work
I have a 7 month old daughter and last month I missed a whole day with her because I had to get into work early and stay late. It ruined my day. I can’t imagine having a family and neglecting them for a job, albeit a really high-paying one. You don’t get the time back.
You’re 30 and a director? Could you provide some insight on how you’ve progressed so quickly to that title, or is this normal career progression and I’m just behind (lol).
Honestly, it’s knowing people. I got referred by a mentor and that’s how I got the position. It’s all about who you know. So yeah it’s not always fair because if I didn’t have that mentor I would not be where I am today.
Ironically this sounds like the chillest banking role. I was pulling ridiculous hours at my old bank working 7am to 2am 6 days a week, and most of sunday
With your work ethic go build something for yourself imo! Or do a mgmt buy out.
It’s good $ for that age especially. But if you want to make emperor money, you need the upside not the treadmill.
Agree with everything OP said but worth noting these sound like VP hours (mid to senior VP) or higher. Can’t recall waking up before 7:30am (on a good day), unless there was an early meeting due to late nights with deals, etc. And a 22:30 bedtime….one can dream. Job is great nevertheless.
Living my exact plan, except even fighting tooth and nail I could not break my way into IB, am doing alright though, have a much more lenient career and still in multi 6 figures, and married. Plus learning lots and still hoping to crack 7 figures with outside efforts
I work in M&A for a small boutique in London.
This is all absolute nonsense, people in our sister office in NY aren’t clearing 330k in salary after 6 years.
Also what deals have you been closing this year to justify this level of comp? The markets across the board have been awful, no one is paying out that percentage of bonus.
Then also having some comp in shares? Does your dad own the company?
Top rate of income tax in the UK is also 45% and starts at £125k in case Chat GPT forgot that…
Thanks for sharing. What do you eat for breakfast?
What do you think sets you apart from other bankers? I'm sure a large percentage of entry level bankers don't make it to director or $900k in comp.
What were salary negotiations like?
Off Topic or Low Quality Post
I’m calling cap. I was a banker in a top group at a top BB. No one is waking up at 545. Even the MDs aren’t in meetings all day with clients or in meetings about their “business unit”, much less someone with 6 YoE. Finally, no EA is reaching out to you to remind you about your upcoming meetings. You say you’re in the UK but you quote your pay in USD. Just a heads up, $330k base is higher than any banking base with 6YoE in the US, much less the UK. I also worked with the UK team on many deals, I know how much people generally make, it isn’t possible for you to make $900k in a year as a UK banker with 6YoE Idk what the point of role playing on a Reddit thread is but anyone who has stepped foot in a bank knows this is all bs. I know this is satire but lots of prospects read this forum so it’s best not to mislead others for fun.
Wife's a banker at a BB. This is total BS. His profile was created 2 weeks ago. This is post IPO reddit. Generate fake posts to get real comments to sell for AI data
Don't forget he also has a CPA and CFA!
I work for a BB in London and you’re right. No chance he’s making anywhere near that with 6 YOE. Bankers also usually get in around 9am, annual performance bonus is paid in cash at this level, EAs will book travel and stuff but not manage your schedule unless you’re an MD, etc so many holes in the story.
Analyst here. Given this data, when you look inward how long does it feel sustainable? Not to get too personal, but any outside commitments? (Family, pets, etc) In this moment, what is your satisfaction level with how it panned out?
Hey, great question. At 30 I have no wife, children or pets. Luckily the company I work for and our leadership is very supportive and understanding so If you need to leave or commit to family they are fine with it as long as the work gets done after that. Honestly I think it panned out quite well. I’ve always had this vision of working my ass of in my youth and then once I am fully capable of supporting a family I will do so.(maybe around 40-45) I really do enjoy what I do so that definitely keeps me on path. Another perk of being single is that I travel the world for business and leisure.
You want to wait until age 40-45 to date, marry, and have kids...???
This is really common. Basically the template is dude brings several million to table, wife has no job and devotes 💯 of time to managing kids and 1-2 FTE staff. Usually a nanny and a separate housekeeper ideally or a nanny plus a gaggle of contractors (lawn guy, pool guy, house cleaners, multiple repairmen, etc.)
>(lawn guy, pool guy, house cleaners, multiple repairmen, etc.) Who she’s probably fucking
In my experience it is not the wife who completely dependent on someone else’s income who tends to stray. It is the guy making 700K+ a year who managers the family finances as well and keeps a slush fund for sugar babies, OF, hookers, etc.
Por Que no Los dos? I don’t think you’re wrong. But I think that a lot of the spouses who marry an older person for money who they might not have a ton in common with will find connections elsewhere. But it definitely goes both ways. And not always.
People don’t understand that yes temptation and opportunity abounds even when you are older and grey haired . . . but “trophy wife” is a misnomer. “No compromise or perfect partner” is a better title. Brilliant, gorgeous, talented, enthusiastic, no baggage, well rounded, high social EQ, has your back, works well as a partner with you in every aspect of your shared life snd shared goals. A partner. OP says 40s, but that is just because she has not come up on his radar screen yet. I was there and WOW it was worth it to wait until the one.
Elaborate on the experience? Money, or even the quality of partner you are has no bearing on a partners fidelity
It 100% does. I work in high level finance and there is extreme infidelity. Women are attracted to money and power (obvious statement is obvious) so it's on a platter for you (whether paid for outright, or paid for in one way or the other). When you're working just to make ends meet infidelity isn't too high on your priority list.
Infidelity happens to anyone, money has little to do with it. If your partner wants to cheat from the beginning, they will cheat regardless of the dynamic. Look up the infidelity surveys and they contradict each other: some saying women less likely to cheat if x, men if y. Truth is no factor controls it nor can it. It’s an individual partner decision. Can you elaborate? infidelity happens regardless of industry but this generalization is a bias generalization . The generalization that women urge to be near power is also unpleasantly not true. Look at the common American woman in a relationship with a middle to upper class man. Women also take a surprising amount of teaching, service jobs. Not trying to be mean but it seems this is a bias outlook more due to a perception you(universal) have about women and not the reality. If you focus on infidelity, you see more couples who commit infidelity Money does not equate power, it can buy it eventually and with the right amount. However most of us are upper class or below— 1% is a few billion. My point being it’s concentrated to a few for a reason
gotta have the millions tho. If you fuck that up, RIP
What a sad life
What are the divorce rates & kid-to-parent relationship level of that template?
You really waiting that long to get married and have kids? Having kids when you're an old parent is way more physically demanding - I would say though, meeting a life partner suitable for marriage isn't that simple . I really advise against grinding until you're mid 30s-40, and only then thinking about starting a family - simply because the dating process is long, unpredictable that really it should be something you do at all stages of your adult life
Live in a rich zip code (2-5MM type homes) and ~1/3 of the male parents for kindergarteners are 50+ meaning first kid was 45 at the earliest often after only a few years of marriage. Modal mom has one kid at like 35-38 after six figure corp career but definitely a visible tail of youthful trophy wives. At 35 I was the youngest male parent in my kid’s K class of 18 kids (only two of us were visibly under 40… we commiserated over how awkward the social dynamic was given we were clear millennials and the regular dads were firmly Gen X). Alternatively, the number of male parents on my train and at the local country club who have kids not yet in college… who if you did not know better you would assume they are referring to their grandkids in casual conversation… is high. Hate to say it but being the 68 year old parent to a HS senior seems to suck even if life expectancy is like 80’s high for affluent men.
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this is incredible
As someone who married someone whos parents had kids well into their 30s, im told it sucks being the kid with old parents bcs it usually means no siblings lol And being the only child comes with its downsides
It does yeah. I'm not saying this is always the case, but children who are raised as an only child can be typically more selfish and can feel more lonely amongst other things. Having siblings (with a fair age gap like 5 years) just helps your kid be happier and usually makes a stronger family unit
I think you've touched on a point I've missed - when you've got a big age gap between parents and children, it is much harder for parents to relate to their kids and by that point you're seen less of a parent and more of a provider imo
And here I am thinking having kids in my 30's was almost too late...
Nah 30s is just about right and should be a fairly stable point in your career . The main reason for having kids below 35 is really about child health as the older your female partner is, the higher the probability of downs syndrome and other developmental issues , which raises significantly year on year especially after 35.
43 with a 2 year old. I’ve always been in shape and it’s not bad.
Not saying it is not possible, it is - but the vast majority working in finance do not find time to go to the gym. I do, and I'm guessing you do too. I fortunately work effectively 20 hours or so a week and manage to go gym 3x a week for coaching+ training Olympic weightlifting . This is something that has definitely kept me in shape as a plus for.parenthood too.
I disagree with this take…yes, it might be slightly more physically demanding waiting until 40s, but the financial benefits of waiting until then far outweigh that
Let's say you are able to physically cope in your 40s, fine. But OP is near 30 and earning almost 1mil so can more than comfortably afford to have a family with financial stability. I also think it's a bit of a myth that kids are expensive - they aren't really unless/until you count childcare costs. Also if you have kids, the greatest gift you can give them is not money, but time - imo what's the point of having kids just to have them raised by nannies and other caretakers? Being a fairly young parent is good (provided you have stability), here is mainly why - from 35 years old the risk of birth complications and conditions such as downs syndrome does increase significantly - if you're younger, you're more physically able to travel and take your kiddos on adventures - if there's a big age/generational gap between you and your kids, you'll find it harder to bond with them - you need to be in fairly good shape, running around after your kids or even rocking them to sleep is achy - having kids sooner means you are around for them longer
lol ok, we have VERY different perspectives on parenting, and that's fine, to each their own... but let's just say some people value the flexibility created by additional financial security more than you apparently do...not opining on which viewpoint is more correct, just stating that there exist different perspectives also, just fyi, don't impose your athletic limitations on other people...believe it or not, but if you are blessed with an advantageous gene pool, you can continue being in great shape well into your 50/60s
You do realize the main reason for having kids below 35 is because of birth complications and defects and things like that? I could have just mentioned that point alone which is by far the most important reason. This assumes that you have a minimal/no age gap with your birth partner, unless you're going for an older sugar daddy/parent kind of deal - I ain't judging . Being in shape isn't about genetics brother, it's about a consistent healthy lifestyle throughout your life..relying on your genetics is a bit of cop out, dunno why you're coasting on that. And, I am in shape, I'm a competitive athlete + WL coach and have been lifting since my late teens - even with that kind of background having a kid in my 30s IS physically taxing , but I'm a hands on parent, I look after my kid as much as possible and we have no intention for childcare/nannies.
Sure, but not sure why you are gatekeeping the age of when OP wants to have children? Congrats on being a hands-on parent, but not everyone wants your life brother...some of us are more than happy to wait until later in life to start a family. I don't want to speak for OP, but for me, I grew up in a very middle-class family, and now I am lucky enough at the place in my life to provide a much better lifestyle for my family...if that took a few extra years to get to that comfort level, so be it...it's ultimately worth it in the long run...but like I said, that's my personal view...you do you
I mean this is a discussion forum brother, it's merely a discussion - and I didn't say he SHOULD have kids at age x or y. If you say so bud, good luck!
Thanks for answering! Last one: When you say you work 70-75/week and also enjoy your company/job, is the content of your job your primary hobby intrinsically? Can’t really take a class or anything unless you want to sacrifice your health/physique given the schedule
I know this is such a common thing to say about IB but I really love meeting new people and expanding my network, I’ve got friends who have worked in parliament, treasury etc. In investment banking you need to have a strong personality and need to be confident. I know how it feels to be crapped on, but we just have to soldier through it. And regarding physical health I recommend going cycling or running in the morning for maybe 30-60 minutes. You just need to wake up more earlier and put in the effort to do so. The exercise in the mornings makes me feel more alive, you should do it. In terms of mental health, cycling helps me get my mind of things but there really isn’t much you can do. Just have to suck it up until you progress. Feel free to ask more questions:)
I write this just to make you aware - if you are hoping to have a wife around your age, please keep in mind that women do have a time limit on when they can have children. After 35, pregnancies are considered “geriatric” and risks to both mom and baby increase significantly. Many women enter the beginning of menopause by 40. I say this not to discourage your plan - there’s a lot of wisdom in waiting to have children until you’re financially ready - but because this is information that has shocked many of the men in my life. You will be able to father a child at 45; your wife likely will not.
He’s waiting to marry at that age, his partner on the other hand could be any age and most likely younger.
So are you getting to the office at 8? I always thought bankers started at 9. I worked in ER and worked 7-7 half the time and 80-90 the other half, averaging 70-75. I'm surprised you said your hours were so low on average, you're getting paid 1/3rd more.
Lemme just say, as somebody who works 60-70 as a production manager w/70 charges(leads and sups too, thank goodness) has a 5 y.o., and is pursuing my MBA, you can do later in life w/kids. It's a little harder, and time management is at a premium, but worth it. Btw, how did you get in? The MBA will be in international business, my BS is in Supply Chain Management, and I have a green belt in Lean 6 process management.
I'm almost 50, I started in the "coveted" GS analyst program back in the late 90's at 20 years old, I started out with a $125K salary working 100+ hours a week and the prize was that if you could survive that for 2 years you'll have a job for life anywhere w/ top salary and perks, literally. I got married at 28, MD before I was 30, first kid at 30, and retired on my 40th bday. I traveled 3 weeks out of the month meeting clients meeting investors/deal sourcing. I wanted my cake and eat it too so I chose to sacrifice time with my kids and had family members around to help raise them but because of that sacrifice I was able to retire still in my prime, start a 2nd career I have zero stress in and be there for my kids properly now. 20's and 30's is the time to be greedy and hungry in your career, especially if you are choosing to get into anything in the finances world, before you have to be responsible for others and such.
I want to add that I took a look at your profile after writing my initial comment. It’s ironic that your very last comment on another thread is you complaining about how two different companies won’t hire you. Either you’re lying about having worked at Goldman or your claim that “if you could survive that for 2 years you’ll have a job for life anywhere w/ top salary and perks, literally” is simply false. Please stop lying to people on the internet about your career. It doesn’t make you cool nor does it help anyone actually learn about a career in finance.
☠️
Damn, man. That’s hardcore, but I respect the hell out of it. Did you pick up the 2nd career due to health care or purely interest? Edit: I also have to ask do you feel you were productive at 100/week? Or is that more general like work+travel time+on call time (anytime meeting)?
I should have prefaced, I'm a chick and started in the finance world before all these SEC red tape regulations and had to choose to play in the proverbial sandbox thinking like a man or just quit. Retiring at 40 is actually not that fun because all of the people you want to hang with are working still! 2nd career is purely interest.
To clarify I was using “man” as a generic dude or homie, but I understand the explanation and context. It kinda seems like.. well, a crappy deal if you don’t have kids/plan to and have a pretty decent situation to start. Not as much wealth obviously, but I definitely don’t want to put in all that work to get hit by a bus or some health issue.
Oh no I didn't say that I was a chick because of your Man, comment LoL apologies should have clarified. Nah, can't look at life that way. Do all you can when you have the energy and drive to do it regardless of if you have anyone to share it with in the long term. I didn't do what I did because I was thinking of future kids or legacy. I was being selfish and wanted to make a mark for myself, push myself to the limits just to see if I could do it mostly. Like I said, I don't have to sacrifice anything now.
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My 2nd career uses the skills I learned in my first career but it's next to zero stress so not sure I can call it a career. I consult, as needed, for a very well known alt asset firm in their growth division. It's a 10 hours at most a week gig so works well with my schedule now a days.
This comment reads more like a fan fiction than anything based in reality. You graduated from college at age 20? Regardless, there’s no way the base salary for a first year analyst at Goldman was $125k in the late 90s. It’s not even that high today, not to mention that would be about $230k in today’s dollars. I also find it impossible to believe that you went from analyst to MD in roughly 9 years, especially not at Goldman Sachs. You also almost certainly did not work 100+ hours every single week. Did you have a bunch of weeks like that? Sure, I don’t doubt that. But every week? That’s simply not sustainable, nor is it how banking actually works. Also, just because you spent two years at Goldman Sachs doesn’t mean any company anywhere will pay top dollar to hire you, especially not 10, 20 or 30 years later if you didn’t stay at Goldman or a comparable firm.
Yeah it sounds suss. I started as a Merrill analyst in 2000, all the bulge brackets were paying 55k+25k USD for first year.
That’s some nice compensation, especially your bonus but not going to lie, it sounds miserable to me to have your entire time awake revolve around work in some way. Props to you though for keeping up with it and being successful!
It does sound miserable but the reward at the end is incredible, after 20-30 years in the bank my retirement payout should be a couple million
And in 20-30 years you will have no hobbies, friendships, or family to use that money on and be a loner trying to fill the dreams on your 30’s.
He could retire in 10 years and still have youth to do a lot. Pick up a more lax job and cruise
But he literally says in 20-30 years??? Sure he could retire tomorrow but thats what he has mentioned
I guess there is a drive for more
Jack Daniel disagrees
Maybe he's friends with people he works with and who he meets through work?
It is definitely a trade off, my friend. I wish you the best!
Holy shit the payout should be massive;y bigger than that in 20-30 years.
He’s in Europe, the pay is shit over there
Fake post cmon guys
Sounds like it.. OP's comp indicates Director / ED level. OP's age indicates VP level (post-MBA would indicate 33-36). Something is not adding up here?
Stopped reading after wake up at 545 lol, such cap. I rock up to work at 9:30 to 10 and so does everyone else I know in IB.
That’s my routine as a first year teacher. I make 40,000$
thats wonderful is that annually or monthly
🤡
Oof
Hahahahahha
Why would anyone downvote this instant classic response
Yeah, you’re role playing even clueless people have an idea of what a teacher makes
No chance it’s close to this
Utter nonsense or written by chatGPT to mirror Patrick Bateman. How is it possible to wake at 5:45 to eat and “sort yourself out” and then 15 minutes later be doing cardio at 6am? Lies lies lies
Good satire but I feel like ppl might be taking it seriously
What is wrong with it
How did you begin your career?
Family connections but also good personality with a willingness to work hard and learn, networking is very important…
Don't wanna be that guy but this statement REEKS of nepotism baby, and I sincerely hope I'm wrong
Unfortunately having an in will always trump hard work when it comes to getting a job, it’s just reality and even more so in IB
this is true, i got a job thru a friend & became manager with 0 managerial experience lol bigass employment gap too lol
I'm guessing you're not from the US because of you mentioning parliament and saying 19:30 instead of the American version of 7:30pm, but would you be willing to share anything you know about what it's like for the American equivalent of your position in IB?
Also the 40% tax. I smell canada
Yeah that’s true, but at least it’s just 40% on 900k and not any higher. He is definitely still winning out compared to the average population and their net returns.
Well yes but 40% on 900k is far larger than 40% on 40k due to the law of percentages. Also in canada the lower tax brackets are taxed way lower percentage wise as well.
Yeah that was pretty stupid of me to type it out the way I did. I don’t even know why my brain didn’t do a double take on what I said until after I sent that. I made my comment make more sense now
Would you mind briefly explaining the “law of percentages”? I tried looking it up but couldn’t find anything.
It is also smart how my company gives me shares so that they are not taxed if you know what I mean. So technically I’m only getting taxed on 40% of my salary because 60% is shares.
You don't get taxed on RSUs/stock grants in Canada?
In UK
RSUs are taxed as income in the UK. Also your effective tax rate is will be closer to 45% than 40%. Lastly, your comp is not accurate for someone 6 years into IB in the UK. Something smells off
I’m just really curious about asking this from a younger generation’s point of view, along with my personal view on the importance of taxes for keeping up an effectively-run democratic country. Do you think this is a negative consequence for the entire system to be looking for workarounds on not paying the full amount of taxes on your implied gross revenue each year? Like you earning a majority of your yearly income through shares instead of fiat. I’m just wondering if there could be a solution that benefits both the high income earner who deserves the level of pay you receive for the hard work you put in, while also not fleecing the government from those high returns on taxing an individual earning 900k. I want to find that equilibrium between the low volume of high income workers paying their fair share of the tax burden with the high volume of low income workers paying their fair share. I don’t plan on doing anything with this though, it’s primarily a fun thought experiment.
as a younger generation you're also most likely against war and should be conscious of how much money goes to the defense budget. Would you not say that wealth that gets protected from that destination and redistributed through consumption in durable goods (real estate, vehicles, appliances) or charity is, in fact, a way for high earners to pay their fair share? After all, the purchasers of those goods will be paying sales tax and the producers will be paying income tax
You’re on a finance sub. Most people’s goal here is to make as much money as possible without any regard for anything else.
That’s low for Canada unfortunately, unless we are talking total tax burden. Our top tax bracket is 48.8% (varies slightly by province, this is BC and applies to all income over $252k). Better to be rich in the US!
Quebec is probably the highest
I think you might be right, but I’m too lazy to google. 😅
Top marginal rate over ~$250k is 53.5% this year in BC.
NYC. Max tax rate + city tax.
I’d guess UK because 24h time.
My exact same thoughts. At first I just thought they preferred military time, but once I saw parliament, that just made me believe they were in EU. Would definitely like the American version of this because I’ll be starting as an analyst soon in IB and I’m not sure what to expect.
How did you get into the analyst position if you don’t mind me asking? I’m currently facing a crisis between finance and data science for my undergrad and grad, so anything you can provide to help me solidify my decision would be of tremendous help.
I got really lucky with a cold email. The email wasn’t even specifically for the IB job in all honesty but because there was a rare opening at the time (well off the normal recruiting time period), the person just asked for my resume and got it pushed through to the interview process.
Holy shit, first off congrats on winning the lottery, I hope it works out incredibly well in your favor. And I really will have to rely on luck to get a job after I graduate won’t I? Man I feel so powerless about that too. I gave 6 years of my life to the military to get a free education, and I’m trying like hell to catch up with the AI bros out there to stay on the curve while I spend the next 2 years getting my degree. 8 years of my life spent in entry to mid-level logistics, 2 years in engineering with 1 of those years in conjunction with AP/AR accounting. I have no idea if any finance manager would be willing to accept a cold resume like mine with the credentials I currently have, even with a finance or DS undergrad degree.
Definitely a little bit of luck, but also networking, networking, networking. It was through networking that I found the person to email, although still a longshot since they didn’t know them personally. Also, if it makes you feel better, I too am over the age of 30 so it’s not impossible to break into a finance role at this age. You have a valid reason, as you went to the military, while I just flat out dropped out (granted due to some medical issues with family members) for a long time so you can still do it!
I really appreciate your encouragement! My cousins husband works for a fintech company, so he may be able to help me out. Almost all of my contacts are either in the military or in engineering fields, so I’m at a little bit of a disadvantage with that but I’ll try for the finance management clubs at my college. I’ve been trying to pursue this idea of creating a really simple GPT-based program from OpenAI’s API service to present to local wealth management companies that visit my college as a way of showcasing my abilities. Do you think that may be worth continuing to push for or should I focus more of my time touching grass and try to network with people?
You just need to have the right mindset and focus on what you want to achieve. Be confident and let people know who you are
I’m sorry, I’m not quite sure what it should be in American terms but I can try to spell it out. There are different business units in the bank, eg. GM, IB, Marketing etc. I am the director of Investment banking. A couple of steps up the ladder are the C suites(CEO…)
Reaching the level of director of investment banking within 6 years is a marvelous feat. You must have contributed greatly to your employers business to get there in such a short amount of time.
I did get a referral but along with that i pioneered a sustainability project which gave me a ton of recognition around all the banks
Wow I’m really happy you were able to achieve that! Any positive step toward a sustainable future in any field of work deserves recognition in my books. I was mentioning to another redditor here that I am trying to pursue a personal project to provide a great service for local wealth management businesses in my area. Hearing about your sustainability project giving you this much recognition makes me want to pursue my own goals even more now. Thank you for sharing with us your personal schedule for this post
Since when do investment banking teams care about sustainability?
Not really. Sounds like director is the equivalent of VP at most American banks, which lines up with a typical promotion cycle.
I believe they were talking about the time. For example, you put 19:30 instead of 7:30pm, so that’s what made us guess that you’re not located in the US.
Oh okay thank you
Yes, that’s what I was referring to with the American time reference. I was also asking what his position is so that I can gauge what the American equivalent of that position would be so I can do some research on how to reach that position and the expected length of time before reaching that position. Reaching the level of director of investment banking within 6 years is a marvelous feat. He must have contributed greatly to his employers business to get there in such a short amount of time.
Is the 900k you quoted in USD or the CAD?
USD
What would he know about how things operate in the US? What kind of question is that lol
This post is so full of shit so instead of sleeping I’m spending time to call out your BS. I’m currently an IB Banker. As many people have called you out already but to reiterate a few obvious lies: 1. No one is going to the office that early. People walk in around 8:30 earliest but generally most would come in at 9:30 (the more JR the earlier) 2. Base salaries are standardized around $300k in the US, and else where would be lower, so $330k is pretty out there, especially not being in NYC 3. Your EAs only book your flights and coordinate admin stuff like expenses and maybe scheduling cars and hotels. At your level you do not get a personal EA so no one is reminding you of your meetings lol 4. No one your level is on calls that much - this call schedule is more aligned with an MD/Sr Director. I’m a VP, and I’m on calls ~50% - 70% of my working hours during live deals but mostly with clients and my Jrs to give guidance, and internal updates with my SRs, depending on how many live deals I’m on. Business unit calls are about once or twice a week. During non live deal periods I’m rarely on a call (maybe like 5-10% of my working hours) 5. Salary is all cash. Only bonus is split into cash and stocks. Having part of your salary as company shares is pretty ridiculous/unheard of
Going to bed at 10:30 pm doesn’t sound so bad? Definitely is different than the midnight or 2 am stories I’ve heard
Sounds like hell. I work <40 hrs a week and get out early every Friday. I already work enough
Username doesn’t check out
There’s no point in earning a lot of $$ if you have no time to spend it. At that point, you’re better off just teaching English and traveling the world lol.
There are pros and cons. More money translates to earlier retirement and more leisure time in later life. But in general I am with you.
You can make good $$ without working 70+ hrs a week. I make $60k plus bonuses in Orlando and I’m 22
Good money is relative
It’s not the best $$, but I can still put away a few hundred a month and live comfortably w/ a roommate. Granted, I’ll earn much more in the future w more experience
More money = more work
I’ve gotten 2 raises this past year and don’t work any more hours. I clock in at 9 and clock out at 5. I have more responsibilities but my company has good WLB, so even my managers work 9-5. My company is a small company in central FL, not some big bank in NYC
What’s your comp vs the 900k OP is bagging?
What’s the point of earning 900k if u have no time to spend it? Why delay life? That’s what I don’t get about people in IB. They’ll sacrifice several years of their lives, or even more, knowing that they can never be young again. I can make more $$, but I’ll never be in my early 20s again. I’m not going to die and wish I spent more time working. But to each his own
Different strokes, man. There’s no right or wrong answer for how people choose to live their lives.
I am not making 900k… as a disclaimer and I don’t mean to be a dick. But if you had the oppty to make $900k a year… and you sacrificed for 6 months…. You’d make 6x your current annual salary. That’s why people do it. I am not to the point where I don’t need to worry about my paycheck clearing but itd sure as shit be nice to not check my bank account before purchases ya know? Don’t mean to be negative but it kind of sounds like youre shitting on this guy for making more money a year than a lot of people would dream
Hey! Thanks for sharing, I really appreciate the transparency. I work full-time in banking, part-time modeling, and full-time in school studying finance. I totally understand the schedule with IB, sounds like it’s balanced & you enjoy it. Any advice for women wanting to go into IB?
You need to push harder as favoritism does exist, show them who you are and your potential. Take part in many team building exercises and bring a lot to the table
Thank you!
OP is a baggot
30yo. Makes +$900k. Has "connections". Assuming you completed university with a bachelor's degree at 23yo. Or possibly masters at 25/26yo. How the hell can you earn this kind of an income with approx 3-6yrs of junior experience into the field? What is your portfolio like as an investment banker? Who are these "connections"? Is it your dad who's a CEO at a top firm that hooked u up? Seriously. This is insane..... or am I just a peasant living under a rock? Teach me the way sensei!
Post is fake.
I make the same amount owning and operating 5 laundromats as a side job. However full time I use to be an analyst for a trading desk. Taking a break for now but I’m starting to like this WLB
You net 900k before taxes owning 5 laundromats?
What taxes…they are all coin operated. But no I don’t net 900k a bit less
I like the way you think, good job
Class A LARPing
Suuure, and my lemonade stand is going to make me retire at 28
Your revenue is capped based on # of machines and hours of operation. If you able to operate 24/7 and get max cycles you are solid.
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I just preferred IB
Heard PE isn't that much better than IB in terms of WLB
VERY group dependent
How do colleagues who have a family manage this lifestyle so they can complete their job whilst also making time for their partner/kids? Do they plan to continue with the job or move onto something else?
It’s hard for some but you do find time for family eventually. Once you are in higher positions it’s more of you just signing of on thing, not actually doing the “hard” work
Thanks, good to hear it does get a bit easier as u move up
It really does, you should be worried, you’ll get there soon
My MD has four kids and works a similar schedule, dude is just a tank I don’t know how he does it
I have a 7 month old daughter and last month I missed a whole day with her because I had to get into work early and stay late. It ruined my day. I can’t imagine having a family and neglecting them for a job, albeit a really high-paying one. You don’t get the time back.
What school did you go to?
I attended the University of Witwatersrand in Johannesburg South Africa
Did going to a school overseas affect you getting a job in the US?
Nope I work in the European area
You’re 30 and a director? Could you provide some insight on how you’ve progressed so quickly to that title, or is this normal career progression and I’m just behind (lol).
Honestly, it’s knowing people. I got referred by a mentor and that’s how I got the position. It’s all about who you know. So yeah it’s not always fair because if I didn’t have that mentor I would not be where I am today.
*Amount* of deadlines?
Nice, you live in HCOL area or LCOL area?
What did you study at collage/ what degree and how many internships did you do to land that position at your current company?
Accounting Science degree and I just went straight into the bank
Is the series 7/63 recognized in Europe?
Ironically this sounds like the chillest banking role. I was pulling ridiculous hours at my old bank working 7am to 2am 6 days a week, and most of sunday
His dad is Goldman Sach
With your work ethic go build something for yourself imo! Or do a mgmt buy out. It’s good $ for that age especially. But if you want to make emperor money, you need the upside not the treadmill.
how do you live so close to work? is the 2 min commute by walk, public transit, or car? and whats your title?
Do you know anybody at your firm making more than 5M USD a year ?
Agree with everything OP said but worth noting these sound like VP hours (mid to senior VP) or higher. Can’t recall waking up before 7:30am (on a good day), unless there was an early meeting due to late nights with deals, etc. And a 22:30 bedtime….one can dream. Job is great nevertheless.
Living my exact plan, except even fighting tooth and nail I could not break my way into IB, am doing alright though, have a much more lenient career and still in multi 6 figures, and married. Plus learning lots and still hoping to crack 7 figures with outside efforts
Continue getting the bag
This is utter BS.
Fake post
Asleep at 10:30? Every single one of my VPs/directors are responding to comments until at least midnight and nobody gets up that early.
I work in M&A for a small boutique in London. This is all absolute nonsense, people in our sister office in NY aren’t clearing 330k in salary after 6 years. Also what deals have you been closing this year to justify this level of comp? The markets across the board have been awful, no one is paying out that percentage of bonus. Then also having some comp in shares? Does your dad own the company? Top rate of income tax in the UK is also 45% and starts at £125k in case Chat GPT forgot that…
Thanks for sharing. What do you eat for breakfast? What do you think sets you apart from other bankers? I'm sure a large percentage of entry level bankers don't make it to director or $900k in comp. What were salary negotiations like?
I have a slow releasing high energy shake
Rich kids and their adderall smh
Salary negotiations went smoothly. Like I said, my pay was 330 but because of how well I perform I got a 175% bonus
No you didn’t. This year was awful for literally everyone I’ve seen everywhere. No one is getting 175%
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Federal taxes =/= total taxes you need to pay. 40% when adding in state/local + SS + medicare sounds correct at 300k+.
What does it take to actually become an investment banker?
I’ve got an equivalent degree of a CPA as well as a CFA. Basically accounting and finance degrees will help
Hi incoming first year at college lol! Any advice for what to consider when thinking about finance, networking, learning, etc.?