My guess is that the salaries will be pretty close in the end with CFAs salaries being higher but with them also having more years of experience.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
numi Wrote:
——————————————————-
> (1) No charter
> (2) Top undergrad / MBA candidate
> (3) less than $35K (summer intern)
> (4) 3 years equity research, 2 years PE before
> b-school; 6 weeks hedge fund
> (5) Male
The famous numi doesn’t have a charter? I thought you passed all levels?
MissCleo Wrote:
——————————————————-
> numi Wrote:
> ————————————————–
> —–
> > (1) No charter
> > (2) Top undergrad / MBA candidate
> > (3) less than $35K (summer intern)
> > (4) 3 years equity research, 2 years PE before
> > b-school; 6 weeks hedge fund
> > (5) Male
>
> The famous numi doesn’t have a charter? I thought
> you passed all levels?
He’s been pretty clear about the fact that he’s no longer pursuing it as he’s basically where he wants to be without needing it. If you search his past posts you’ll find the rationale stated.
Median CFA salary: 105k
Median CFA yrs of experience: 5 yrs
Median Non-CFA salary: 90k
Median Non-CFA yrs of experience: 4.5 yrs
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
Black Swan Wrote:
——————————————————-
> MissCleo Wrote:
> ————————————————–
> —–
> > numi Wrote:
> >
> ————————————————–
>
> > —–
> > > (1) No charter
> > > (2) Top undergrad / MBA candidate
> > > (3) less than $35K (summer intern)
> > > (4) 3 years equity research, 2 years PE
> before
> > > b-school; 6 weeks hedge fund
> > > (5) Male
> >
> > The famous numi doesn’t have a charter? I
> thought
> > you passed all levels?
>
> He’s been pretty clear about the fact that he’s no
> longer pursuing it as he’s basically where he
> wants to be without needing it. If you search his
> past posts you’ll find the rationale stated.
Zesty, to clarify, the $35K I reported is for about 10 weeks of work this summer. I don’t know what a full-time salary would look like for me because I think with year-end bonuses it could potentially be different, but for now I guess you can just pro-rate my figure over 52 weeks and put me in the non-CFA bucket. It’s a rough estimate and the best I can do right now.
AlphaSeeker and higgmond, are you guys in the investment management / hedge fund space? If so do you mind dropping me an e-mail? Have a couple questions about full-time recruiting post-MBA as far as skill-building, salary negotiation, among other things. I still have four more weeks in my internship and I want to make sure I’m picking up the most value-added skills that I can get. Happy to communicate more via e-mail at porcupines@gmail.com.
^ I disagree with all the IB worship that goes around. That job blows. So I’m mid office doing investment research with a risk focus. Not back office, also not a bad gig. I work ~40-50 hour weeks and live a pretty good life making ~90 in Pburgh. Been at this role for about a year. My friends in IB at the same level in NYC (with it’s higher living costs) are making maybe 150 w/bonus, and they’re at the office pretty much every week night till 2 am and most days on weekends for at least 12 hours each day. Go ahead and worship that all you want. Every one of them I’ve spoken to hates their life.
@Numi gotcha, in that case these are the updated results thus far:
Median CFA salary: 105k
Median CFA yrs of experience: 5 yrs
Median Non-CFA salary: 95k
Median Non-CFA yrs of experience: 4.5 yrs
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
@Black Swan, so you’re telling me that you would pass up an IB job if it was offered to you? Just wondering.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
I know lots of people who like to say that. Not sure if they mean it. I am pretty sure I would, but that’s because I am much to lazy to work that hard. I’d get fired.
Formerly ChickenTikka - Member of the Order of the Righteous Rusty Hacksaw
Zesty Wrote:
——————————————————-
> @Cinderella, Good point; let’s add
>
> #4. Number of years of Finance/Accounting/Budget,
> etc related experience?
>
> So let me start over.
>
> 1. NO
> 2. MSF
> 3. 70-80
> 4. 3 yrs
1. hopefully in a month
2. ASA
3. ~85
4. 5 yrs (2 ALM, 3 risk mgmt middle office)
Black Swan Wrote:
——————————————————-
> ^ I disagree with all the IB worship that goes
> around. That job blows. So I’m mid office doing
> investment research with a risk focus. Not back
> office, also not a bad gig. I work ~40-50 hour
> weeks and live a pretty good life making ~90 in
> Pburgh. Been at this role for about a year. My
> friends in IB at the same level in NYC (with it’s
> higher living costs) are making maybe 150 w/bonus,
> and they’re at the office pretty much every week
> night till 2 am and most days on weekends for at
> least 12 hours each day. Go ahead and worship
> that all you want. Every one of them I’ve spoken
> to hates their life.
I am in the same boat as Black Swan. Sure I could make more elsewhere, but I work 40hrs and leave at 4:30 everyday to go home and have dinner with my kids.
Just to go ahead and clarify. As stated, I make ~90 in P-burgh. Now, I figure that’d be about 120 in NYC, based on what my compatriots within my firm are making in NYC in similar roles. Now, I ask myself, is $30k a year worth nearly every single weekend and night of my 20’s? No. Even factoring in future raises and progression. Read Monkey Business, I read it just as I was changing my views on life to less work, more living. You’re only young once.
In the past two years, I’ve been partying at cities with friends across the US (including 3 trips to Vegas), I went to Indonesia / Bali for 2 weeks, Egypt for 10 days, stopped in Paris, have started running ultra marathons and adventure races, took up whitewater kayaking and have recently started doing a ton of dating. And I still have time for evening classes. I don’t think I could have done any of that in IB, so no. It’s simply not worth giving up my best years.
Plus, everyone I know who’s in IB (most have only been in about a year) hates it and is trying to get out.
You also need to factor in location:
In NYC, 100K evaporates like water. In many other locations with this income you’re living like a rock star.
Studying With
1. Yes, charterholder
2. No
3. $105-130k
4. in my 5th yr in the FO.
5. focusing on the motion on the ocean
1. yes
2. mba
3. 97
4. 10yrs
5. white, so smaller (on a relative basis)
My guess is that the salaries will be pretty close in the end with CFAs salaries being higher but with them also having more years of experience.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
1. No (l3 candidate)
2. No
3. 135-180k
4. 8 years
numi Wrote:
——————————————————-
> (1) No charter
> (2) Top undergrad / MBA candidate
> (3) less than $35K (summer intern)
> (4) 3 years equity research, 2 years PE before
> b-school; 6 weeks hedge fund
> (5) Male
The famous numi doesn’t have a charter? I thought you passed all levels?
1) Level III Passed
2) MSF
3) ~90
4) 3 Years
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
Alpha and Hobbes, what fields are you in?
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
MissCleo Wrote:
——————————————————-
> numi Wrote:
> ————————————————–
> —–
> > (1) No charter
> > (2) Top undergrad / MBA candidate
> > (3) less than $35K (summer intern)
> > (4) 3 years equity research, 2 years PE before
> > b-school; 6 weeks hedge fund
> > (5) Male
>
> The famous numi doesn’t have a charter? I thought
> you passed all levels?
He’s been pretty clear about the fact that he’s no longer pursuing it as he’s basically where he wants to be without needing it. If you search his past posts you’ll find the rationale stated.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
1. Yes
2. Yes
3. $95k
4. 5 years
5. I can’t touch the end of a tuna can but I can rub the sides.
CFAs are still up:
Median CFA salary: 105k
Median CFA yrs of experience: 5 yrs
Median Non-CFA salary: 90k
Median Non-CFA yrs of experience: 4.5 yrs
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
Black Swan Wrote:
——————————————————-
> MissCleo Wrote:
> ————————————————–
> —–
> > numi Wrote:
> >
> ————————————————–
>
> > —–
> > > (1) No charter
> > > (2) Top undergrad / MBA candidate
> > > (3) less than $35K (summer intern)
> > > (4) 3 years equity research, 2 years PE
> before
> > > b-school; 6 weeks hedge fund
> > > (5) Male
> >
> > The famous numi doesn’t have a charter? I
> thought
> > you passed all levels?
>
> He’s been pretty clear about the fact that he’s no
> longer pursuing it as he’s basically where he
> wants to be without needing it. If you search his
> past posts you’ll find the rationale stated.
here you forgot the wipe…
1. no (L2 candidate)
2. no
3. ~95k
4. 5 years
5. male
1. Yes (just recently)
2. Yes, MA Econ
3. 105,000
4. 4.5
5. male
1. No
2. MBA
3. 60k
4. 3 yrs
we need some investment bankers to come in here and report their earnings, put us all to shame.
Studying With
So far I have learned that there are a lot of Back office IT guys on this form.
Formerly ChickenTikka - Member of the Order of the Righteous Rusty Hacksaw
Yup!
I dont think the hardcore IBD guys waste so much time on here.
ChickenTikka Wrote:
——————————————————-
> So far I have learned that there are a lot of Back
> office IT guys on this form.
Zesty, to clarify, the $35K I reported is for about 10 weeks of work this summer. I don’t know what a full-time salary would look like for me because I think with year-end bonuses it could potentially be different, but for now I guess you can just pro-rate my figure over 52 weeks and put me in the non-CFA bucket. It’s a rough estimate and the best I can do right now.
AlphaSeeker and higgmond, are you guys in the investment management / hedge fund space? If so do you mind dropping me an e-mail? Have a couple questions about full-time recruiting post-MBA as far as skill-building, salary negotiation, among other things. I still have four more weeks in my internship and I want to make sure I’m picking up the most value-added skills that I can get. Happy to communicate more via e-mail at porcupines@gmail.com.
Career Coach -- www.linkedin.com/in/numicareerconsulting
How to Break Into Equity Research -- www.mergersandinquisitions.com/equity-research-recruiting
^ I disagree with all the IB worship that goes around. That job blows. So I’m mid office doing investment research with a risk focus. Not back office, also not a bad gig. I work ~40-50 hour weeks and live a pretty good life making ~90 in Pburgh. Been at this role for about a year. My friends in IB at the same level in NYC (with it’s higher living costs) are making maybe 150 w/bonus, and they’re at the office pretty much every week night till 2 am and most days on weekends for at least 12 hours each day. Go ahead and worship that all you want. Every one of them I’ve spoken to hates their life.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
@Numi gotcha, in that case these are the updated results thus far:
Median CFA salary: 105k
Median CFA yrs of experience: 5 yrs
Median Non-CFA salary: 95k
Median Non-CFA yrs of experience: 4.5 yrs
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
@Black Swan, so you’re telling me that you would pass up an IB job if it was offered to you? Just wondering.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
Studying With
@Zesty
I know lots of people who like to say that. Not sure if they mean it. I am pretty sure I would, but that’s because I am much to lazy to work that hard. I’d get fired.
Formerly ChickenTikka - Member of the Order of the Righteous Rusty Hacksaw
Zesty Wrote:
——————————————————-
> @Cinderella, Good point; let’s add
>
> #4. Number of years of Finance/Accounting/Budget,
> etc related experience?
>
> So let me start over.
>
> 1. NO
> 2. MSF
> 3. 70-80
> 4. 3 yrs
1. hopefully in a month
2. ASA
3. ~85
4. 5 yrs (2 ALM, 3 risk mgmt middle office)
Black Swan Wrote:
——————————————————-
> ^ I disagree with all the IB worship that goes
> around. That job blows. So I’m mid office doing
> investment research with a risk focus. Not back
> office, also not a bad gig. I work ~40-50 hour
> weeks and live a pretty good life making ~90 in
> Pburgh. Been at this role for about a year. My
> friends in IB at the same level in NYC (with it’s
> higher living costs) are making maybe 150 w/bonus,
> and they’re at the office pretty much every week
> night till 2 am and most days on weekends for at
> least 12 hours each day. Go ahead and worship
> that all you want. Every one of them I’ve spoken
> to hates their life.
I am in the same boat as Black Swan. Sure I could make more elsewhere, but I work 40hrs and leave at 4:30 everyday to go home and have dinner with my kids.
Studying With
brain_wash_your_face Wrote:
——————————————————-
> I’m game:
>
> 1) Yes
> 2) No
> 3) 120
> 4) 5
I just realized that this is all-in comp. Last year was roughly 170k, and total experience (including non-investment) is 7 years, so
1) Yes
2) No
3) 170
4) 7
5) Feet are size twelve
“Some people make shoes. Some people make houses. We make money and people are willing pay us a lot to make money for them.”
Zesty Wrote:
——————————————————-
> @Black Swan, so you’re telling me that you would
> pass up an IB job if it was offered to you? Just
> wondering.
I was offered, and yes I did.
Now buy side AM, that I would jump through hoops for.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
Just to go ahead and clarify. As stated, I make ~90 in P-burgh. Now, I figure that’d be about 120 in NYC, based on what my compatriots within my firm are making in NYC in similar roles. Now, I ask myself, is $30k a year worth nearly every single weekend and night of my 20’s? No. Even factoring in future raises and progression. Read Monkey Business, I read it just as I was changing my views on life to less work, more living. You’re only young once.
In the past two years, I’ve been partying at cities with friends across the US (including 3 trips to Vegas), I went to Indonesia / Bali for 2 weeks, Egypt for 10 days, stopped in Paris, have started running ultra marathons and adventure races, took up whitewater kayaking and have recently started doing a ton of dating. And I still have time for evening classes. I don’t think I could have done any of that in IB, so no. It’s simply not worth giving up my best years.
Plus, everyone I know who’s in IB (most have only been in about a year) hates it and is trying to get out.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
wake2000 Wrote:
——————————————————-
> we need some investment bankers to come in here
> and report their earnings, put us all to shame.
let me know when you find some
like BS said - IB blows. its a great gig to be at when you’re 45-55, other than that is blows.
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