In the late 1995 - 2007 my dad took home 400k and 1mm+ in bonuses He was a director at Deutsche
Exactly what I'm thinking
Regulation will be great for established companies like G, FB etc, but will stifle smaller players. This will mean less demand for devs and salaries will drop everywhere.
Exactly what I am thinking: before 2008 finance jobs are hot, the comes to tech for a 10 year long prosperity. what is the next 10 year long prosperity industry ? No one can beat the history trend, regardless how smart we are (or we are not.)
weed jobs are going to be hot next
^You can clear 200K / yr in a small farming operation right now
Healthcare
Why did he resign OP? He should have waited for a lay-off and taken a nice severance as a parting gift.
He made a deal and managed to take a product he was working on for Deutsche to build his own company.
Nice makes sense
Take a look at Deutsche Bank now - totally in the dump !
Douche Bank
Deutsche Bank, Barclays, Credit Suisse, most European and Asian investment banks are down in the gutter. The big names on wall street need to change their business models just to stay relevant and look at other sources of income. Prime example is Goldman with Marcus, apple credit card etc. 2004 GS earned so much money by prop trading that they would have never imagine ever to get into credit card business and consumer deposit business. Those were for suckers. How times change!
If you’re staffed on some of these hot IPO deals are you’re up there then yes there’s a shot to make good money. You also might be referring to tech IB. Healthcare IB is still a crazy place with a lot of $ being thrown around
Those were the golden days in investment banking. Everything changed post 2007.
Yeah that's what I thought, he resigned at Deutsche because of all the lay offs and knew his was coming. Worked out for him in the end.
Lucky guy! 1MM+ bonuses still happen but they are very very few compared to almost every great performer getting them pre 2007. We have so much regulation now in banking which greatly increased costs of transactions and lowers profits.