I feel like based on the hours worked, Tech makes a lot more, but how about long term growth, can IB win eventually? Below is TC For Investment Banking in NY: Y1: 110 base 100 bonus total 210K (85 hours per week average) Y2: 120 base 150 bonus total 270K (100 hours average) Y3: 150 base 175 bonus total 325K (95 hours average) Y4: Waiting Could some Tech buddy please share your track of TC?
Stick with IB. Grass isn’t always greener.
I thought base was 85K at BAML, did you come in as a summer associate?
I am not with Baml and came in with Masters
Ahh so you’re an associate, makes way more sense
Depends on what your long term goal looks like
I'm in Tech now. IB is gopd if you actually succeed on to be SVP or MD, then you can cash in well more than if you rise to senior levels non-tech at tech company. For junior levels, Tech is better for Pay per hour, by orders of magnitude, especially if you are non-tech. IB is sales as you go up. Overall, I'm happy to be in tech now.
what role are you in tech and how do you make that transition?
Strategy at F/G. Plenty ex-IB and ex-MBB come here to retire.
Do aliens exist?
How is it humanely possible to work 80 hours a week on end? I work 40-50 hour weeks and I already feel tired from work, I think I could push it to 60 and then I'd feel exhausted. Sometimes I think what if I could just pull IB hours on tech, would I be performing way better than I am now..? Or do IB people just do braindead work so basically they're just on standby for the insane hours
When I worked in IB, I spent 5 hours changing the fonts and tidying up a spreadsheet because my director (who was fine with the model at first) saw one online and wanted me to make ours look like it. He only sent me a screenshot so I had to go through pretty much every single font style in Excel and match it against the screenshot he sent me. The next day, the deal fell though and he told me to trash it
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Are those hours legit? Insane that people put themselves through that for a modest pay increase.
it is up or out
All my friends in investment banking work from like 9AM to 1AM Mon-Fri with like 6 hours of work on Saturdays