What exactly does the TC structure look like for investment bankers...I know a huge portion of their annual income is based on bonuses, but what does an average bonus look like? I don't want to know what the cream of the crop are making...I want to know what an average Joe would make working for investment banking? Is it really that much higher than tech? I'm not an engineer but have been looking at non-engineering jobs in tech mostly...I do have a finance background in terms of school and am young I believe enough to make the switch...Is it really worth trying to get into investment banking? I've previously disregarded it because I never saw myself as a white collar wall street schmuck? But seems like maybe the culture is changing and it's not as bad as I imagined?
You can’t just apply to be an investment banker... they’re recruited from top schools
Not these days. Talent is bleeding from Wallstreet to silicon valley so fast, they're desperate to hire minions to replace the ones who are leaving. Look at private equity, used to only hire from top ibanks. Now they are trying to hire out of college. What a joke That said, sv is now in bubble territory the same way Wallstreet was pre 08. People's salaries, mentalities, attitudes, are all strikingly similar. You have the smartest grads all go to silicon valley now to try and "change the world for the better". Bro, you're working on ads, you spend 6 hours trying to fix a 6 second ad. Just say it as it is. But ironically, this was what bankers used to say pre 08. They were all "changing the world"
I agree almost 100. But disagree anyone with a finance degree can get into investment banking, particularly if their aspiration is to be an “average Joe” in the field!
All the info you need is on wallstreetoasis.
It’s been a couple years and it changes based on bank, market and your coverage but it can be anywhere to 60-100 percent of base and if you are stellar performer, could be over your base. Rule of thumb, analyst 1YR 70-150 Analyst 3 yr 120-350 Associate 150-350k 3 yr associate 250-500K VP 350-1.5MM ish MD partner, 500K to 20MM+/-
People getting the upper end of the ranges you posted are super few
Again, varies by your bank, and what coverage you have and what the market is doing.
These numbers are misguided. 200k+ salary range? VP making 1.5M? 😂
The higher end of those ranges are absolutely absurd. No analyst is making $350K regardless of experience either
This
Agreed
Director or SVP bulge bracket / elite boutique IBD M&A is around $200-250k Base and $400-$600k bonus. Bonuses paid partly in cash partly in deferred comp.
I'm an IBD VP at a bulge bracket in NYC. My 1st year was $225k base + bonus. Total comp was $515k
I take it you mean first year as VP?
Can we all agree here that those who choose IBD are thinking they will go to PE, land at a VC, or just make some money to go F off in another country teaching English. No one goes to IBD because of the work, especially when compared to tech. Now perhaps you go to one of those top IBD boutiques, ok. But if you had a choice between a BB and a top tech firm, your lifestyle, satisfaction, and soul are better off in tech.
Tech is infinitely better than banking. Banking is shit lifestyle for a lower pay when junior. It's probably true thay when you have 15 yoe, you stsrt making bigger money, but by then you're probably dead from a shit lifestyle anyway