Finance ppl in the house 🏠?

Goldman Sachs ltjI46
Apr 9 120 Comments

I feel like most of us working at a bank or financial institution are in tech/IT. How many actual bankers are here 🏦?

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TOP 120 Comments
  • M&T Bank tyjA53
    I work for a shitty regional bank where even the IT workers arguably don’t work in IT.

    At least I get to see dinosaurs every day.
    Apr 9 9
    • Barclays PLC FAANGHNTER
      Nobody stays in Jurassic Park, leave.
      Apr 9
    • M&T Bank tyjA53
      It pays surprisingly well, especially considering the cost of living here. It’s also easier once you change all of the door handles to doorknobs.

      Unfortunately I’ve ran out of soul to sell, and am in the process of GTFO.
      Apr 9
    • BlackRock wageslave
      TC?
      Apr 9
    • M&T Bank tyjA53
      135k
      Apr 9
    • Barclays PLC finra
      Holy shit. My first ever bank account in college was at M&T
      Apr 9
    • Apple fantasia
      135k is too low. What is your YOE?
      Apr 9
    • M&T Bank tyjA53
      Again, rust belt, small city, average developer jobs pay ~80k salary out here. 9 YOE, plenty more potential to be realized, but I have to relocate.
      Apr 9
    • Northern Trust aspdotnet
      Where's and whats M&T?
      Apr 9
    • M&T Bank tyjA53
      Amen to all of that.
      Apr 11
  • Vanguard / Design qAim35
    UX designer here.
    Apr 9 10
    • Chase / Design ✴️
      So few of us on here.
      Apr 9
    • Google / Eng Pri
      Can you please fix the chase mobile app ux ?
      Apr 9
    • Wish / Eng gfhch
      I actually like the chase app
      Apr 9
    • Bloomberg / Eng iVX372
      And fix the Vanguard UX, please? It's getting better but is still lousy, especially compared to competitors like Wealthfront and Betterment
      Apr 9
    • BlackHawk Network PKTq50
      Vanguard really need some work done on their UX. Webapp is just tok damn slow for Impatient IT GUYS
      Apr 9
    • Vanguard / Design qAim35
      We’re working on it! Lots of us!
      Apr 9
    • Google / Eng Pri
      I have found the Amex app to have the best UX. Worst one is very easy - HSBC hands down !
      Apr 9
    • Google masteratbs
      Vanguard is actually not too bad, but theres so many inconsistencies between web and mobile! Including my balance!
      Apr 10
    • Salesforce / Eng aTicTac
      @qAim35 honestly if I could track the Vanguard target retirement trust funds in one of my 401(k)'s on Vanguard's site it would be super helpful. There's no way to do that currently, just have to base it on the investor shares.
      Apr 11
    • Vanguard / Design qAim35
      @aTicTac so you want multi-account aggregation?
      Apr 12
  • Salesforce / Mgmt GQch66
    The folks I know those jobs would laugh at the TCs here.
    Apr 9 17
    • Apple Nspb42
      Lol you do realize that the big bank ceos are in the lower 8 figures right? You know a bunch of ceos?
      Apr 9
    • Google 1234-/:;(
      Dont forget the traders' commission. Their total earnings are way more than a tech TC
      Apr 9
    • Salesforce / Mgmt GQch66
      Not Bank CEOs but partners at hedge funds, large management firms, etc. Bonuses can be $10-20 million+. When you've got 6,000 square feet in downtown Boston, you're doing well.
      Apr 9
    • Apple Nspb42
      So they make more than some tech and bank ceos. Hm, hard to believe
      Apr 9
    • Salesforce / Mgmt GQch66
      For many of these firms, compensation isn't public but in a divorce proceeding, it was revealed that one of the partners at the same investment management firm as one of the people (also a partner) I'm talking about made $46 million in the prior year.

      Obviously these guys are the top of the top earners, so they're making bank.

      Food for thought: https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ceos-vs-hedge-fund-managers-144938007.html
      Apr 9
    • Splunk KE94107
      I know it’s heresy to point out the obvious about TC here in the Blind bubble: as someone who sits right at the dividing line of the defunct Occupy movement’s Ninety-Nine Percent from the 1%, it seems to me that if you’re only happy climbing the ranks of that 1% it’s roughly 99 times harder to achieve and stay happy than for the rest of everyone.

      I know it’s been tough for me over the years, as I follow with keen interest the 1% of friends/peers doing better than I do and more or less try to ignore or otherwise not feel too bad about the economic woes of that other 99% of friends/family.

      This kinda feels like a reality check is needed. America is using dollars to keep score in a game played by about 1 million households.
      Apr 10
    • Salesforce / Mgmt GQch66
      That's a good point, and I learned very quickly to measure my success by what _I_ want to achieve, not by comparing myself to others.
      Apr 10
    • Aetna pffttt
      Axe Capital...😂
      Apr 10
    • Microsoft whymsft
      Salesforce - front office (IBD) MDs can pull low seven figs. Traders back in the days could pull more. The people you are talking about must have started their own very successful funds or are managing $1bn+ funds to earn eight figs (assuming 2/20 fee structure). They are at the top of the finance world and regularly earn more than bank CEOs. So I’m not sure why they warrant mentioning here where we are clearly not talking about them.
      Apr 10
    • Salesforce / Mgmt GQch66
      Sorry, thought OP was asking about non tech folks in finance and not specifically banking.
      Apr 11
  • Dropbox systest
    They are in WSO
    Apr 9 1
    • Twitch RbOv54
      I luled so hard. Those old days
      Apr 9
  • FactSet / Product rkld
    Kinda work both - was #FinTech before it was cool
    Apr 9 0
  • Travelport / Eng buttnpushr
    Yeah bro I'm totally in finance. I got a bunch of investments going on my Robinhood account I'm like that buffet guy
    Apr 9 0
  • Morgan Stanley Gxgx56
    Finance. Morgan Stanley.
    Apr 9 3
    • Microsoft whymsft
      I hate the generic ‘finance’ label here. Could be anything. IBD, GCM, Equities, Fixed Income, Wealth Mgmt
      Apr 9
    • Morgan Stanley Gxgx56
      TCM
      Apr 9
    • Twitch FUI
      TC?
      Apr 9
  • Microsoft Jeph Bezos
    Corp dev here
    Apr 9 0
  • Barclays PLC finra
    Tech is more critical than ever to revenue generating side of the bank these days.
    Apr 9 0
  • Bloomberg / Other QUIZSlayer
    Fintech company but finance position
    Apr 9 0
  • New / Ops
    tooQ10

    New Ops

    PRE
    Rakuten USA
    tooQ10more
    Finance back office; previously marketing and personnel in the same company. 20 YoE, TC 45. Outside US, but I don't think the BO pays well anywhere.
    Apr 9 5
    • Goldman Sachs GDTN51
      Mid-back office was my prior role. At 8 YOE (2008) I was at 230 TC. (VP in NYC at Morgan Stanley). Since then I have taken different path - (reg facing risk management). Hours are better comp slightly increased. That being said I was expensive BO at the time and would likely have been cut eventually if I didn't make MD in next few years. And office politics wise I backed the wrong horse and wound up having to move roles. (and firms later)
      Apr 10
    • New / Ops
      tooQ10

      New Ops

      PRE
      Rakuten USA
      tooQ10more
      Wow, congratulations on that crazy-high TC! I knew GS paid well -- we used to offer your warrants to our customers -- but wouldn't have imagined anything like that number. I have 2.5x your experience and one-fifth your comp. I'd love to go back to NYC some day but don't think I get paid enough.

      You were a VP, though; what about long-term non-management people?
      Apr 10
    • Goldman Sachs GDTN51
      To be clear that was 11 years ago at MS. In mid-office/back office comp is directly tied to management in my experience. Non officer was about 120k cap TC at that time.
      Apr 10
    • Goldman Sachs GDTN51
      Also near shore deployment offices (I.e. Baltimore for MS) paid 50% comp back then. Not sure what the difference is these days.
      Apr 10
    • New / Ops
      tooQ10

      New Ops

      PRE
      Rakuten USA
      tooQ10more
      50% of 120 sounds more like what I would be aiming for, at least for now. I've done some mid office stuff (selling metals and metal futures to institutional clients) but have mostly been doing trade settlements, reconciliation, that kind of thing.

      I'm over 40, have postgrad degrees in the humanities, and was never on the management track. A solid decently paid position is all I'm looking for.
      Apr 10
  • New / Ops
    tooQ10

    New Ops

    PRE
    Rakuten USA
    tooQ10more
    All you finance people, kindly adhere to the "TC or GTFO" convention. Some of us less-well-compensated finance folks need data!
    Apr 12 4
    • Microsoft Jeph Bezos
      Tc?
      Apr 13
    • New / Ops
      tooQ10

      New Ops

      PRE
      Rakuten USA
      tooQ10more
      44k base, bonus around 5k, stock around 900 per year. Not great, but not impoverished either. Such is life in the back office!
      Apr 13
    • Microsoft Jeph Bezos
      Location?
      Apr 14
    • New / Ops
      tooQ10

      New Ops

      PRE
      Rakuten USA
      tooQ10more
      Formerly "Wall Street West" (Jersey City), now Tokyo.
      Apr 14
  • Wells Fargo / Ops VOPL36
    Underwrite business loans
    Apr 9 2
    • Microsoft Jeph Bezos
      Is that even considered finance?
      Apr 9
    • Wells Fargo / Ops VOPL36
      Kind of. We structure deals. Lots of analysis, etc. I’ve worked on the originations side as well. Lots of similarities bit yeah not an FA or anything.
      Apr 9
  • Amgen yiXR75
    I’m in sourcing...finance adjacent and lucrative but people hate us
    Apr 9 1
    • American Express uktg07
      Expound 😁
      Apr 18
  • NBCUniversal ln1294
    Treasury, NBCUniversal
    Apr 11 0
  • New / Eng jo2305
    Is cryptocurrency considered fintech?
    Apr 9 0
  • BlackRock xis
    You can answer your own question. Find out what’s the ratio in GS that you will park on either side.
    Apr 9 0
  • ECi Software / Finance Lazarus48
    Corp Dev in the house
    Apr 9 8
    • Microsoft Jeph Bezos
      What does ECI do?
      Apr 9
    • ECi Software / Finance Lazarus48
      Vertical specific business management software for SMBs. Think ERP, Point of Sale, etc.
      Apr 10
    • Microsoft Jeph Bezos
      What was last years revenue?
      Apr 10
    • Microsoft Jeph Bezos
      Trying to understand the size of your business. Curious to understand the deal size and quantity on your end.
      Apr 10
    • ECi Software / Finance Lazarus48
      $200M+. We did 5 deals in the last 4 months of 2018, and we've done 10+ deals in the last 6 years
      Apr 10
    • Microsoft Jeph Bezos
      TC? Curious to compare what a Corp dev at a small company makes vs. Corp dev at a 10B+ rev company.
      Apr 10
    • ECi Software / Finance Lazarus48
      I'm severely underpaid but my TC is around 115 with 6 YOE. It should probably be in the 150-170 range at this point. You?
      Apr 10
    • Microsoft Jeph Bezos
      225+ but based in Bay Area. Believe you’re in Texas where COL is much lower.
      Apr 10
  • Northern Trust aspdotnet
    Exchange/trading
    Apr 9 7
    • Microsoft Jeph Bezos
      TC?
      Apr 9
    • Northern Trust aspdotnet
      It's my new job. 115k 2 yoe. Chicago
      Apr 10
    • Microsoft Jeph Bezos
      Good for you
      Apr 10
    • Northern Trust aspdotnet
      Is that good?
      Apr 10
    • Microsoft Jeph Bezos
      For 2 yoe, very good imho. Are you prop trading? Or back office?
      Apr 10
    • Northern Trust aspdotnet
      I don't think it's either. It's an exchange that provides platforms to trade options, futures etc.
      Apr 10
    • Microsoft Jeph Bezos
      So you’re not a trader?
      Apr 10
  • New GDhy06
    Bond trading, investment bank
    Apr 10 5
  • Google masteratbs
    Google here
    Apr 10 5
  • Microsoft Jeph Bezos
    People need to start listing TC!

    TC 220k 8YoE Bay Area.
    Apr 16 0
  • RBC Capital Markets
    NY90

    RBC Capital Markets

    BIO
    Finance, Capital Markets
    NY90more
    IB
    Apr 14 0
  • Spotify I struggle
    Taylor Mason Cap. I am Mafee
    Apr 11 0
  • Finance FPA
    Apr 11 0
  • Goldman Sachs / Finance Mystic095
    Risk Management, Goldman Sachs
    Apr 10 0
  • New PMP23
    Anyone working for a boutique IB or a prop shop?
    Apr 10 0
  • Jack Henry / Eng QbAH11
    FinTech here
    Apr 10 0
  • Deluxe / Ops TAzS01
    Financial services
    Apr 10 0
  • Wells Fargo / Finance oldtimer7
    Wealth Management
    Apr 9 0
  • Twitter iLCforFun
    I think they are all on fishbowl app. Maybe we should go there and troll them.
    Apr 9 0
  • New gcit
    Work in IT but have a background in accounting; I translate functional to technical and vice versa.
    Apr 9 0
  • Barclays PLC kwrj38
    Prime Brokerage
    Apr 9 0
  • New / Eng
    chi-worker

    New Eng

    PRE
    Motorola Mobility (a Lenovo Company), ARRIS
    chi-workermore
    SW Engineer at mutual fund company
    Apr 9 0
  • Ex hedge funds. Now fintech. Whatsup
    Apr 9 0
  • Hedge fund here!
    Apr 9 0
  • Airbnb / Finance
    unemployd

    Airbnb Finance

    PRE
    Accenture
    BIO
    Sup
    unemploydmore
    Finance team at tech company
    Apr 9 0
  • New / Other
    skreeeam

    New Other

    BIO
    Investment Banking
    skreeeammore
    IBD at a boutique post my time at a couple bulges.
    Apr 9 0
  • Goldman Sachs GoldenSack
    IB
    Apr 9 0
  • RBC wehdmak
    Tech in RBC(Royal Bank of Canada)
    Apr 9 0
  • Oracle / Eng yoylo
    Finance is wall street?
    Apr 9 0
  • Google udnq66
    Finance big tech 👀
    Apr 9 0
  • Wells Fargo mIlq85
    Finance. Law.
    Apr 9 0