Thanks
You’re welcome. Anything else you need shot down, just let me know.
I don’t see how that’s being “shot down” – you must be missing something. I represent myself exactly the way that I am, and unlike you, I don’t pretend that I’m someone I’m not. As I stated earlier, I know you feel threatened by people on this forum that actually have real professional accomplishments to speak of, but I assure you that you’d feel better about yourself if you spent less time on this forum trolling around and more time working hard. You’d be surprised by the number of people on this forum that actually know me in person; I know this might come as a surprise to you, but normal everyday people without superpowers can earn a living in this industry as evidenced by the number of people on this forum that *do* work in finance. I reckon you should get back to work now.
Mid to later twenties people who graduate from a top tier school working on the street easily make 100K base + bonus (end of story). I know a number of them personally. Pre-MBA I’m sure it’s difficult but I don’t consider 100K out of this world by any means especially in the bigger cities. I know Ivy undergrads working on the street who made about 60K with a 50K or so bonus with less than three years of experience.
Just came across this gem. I think IHIHM’s analysis is actually pretty astute, although a little obnoxious for some members. Witness the above post: "“I know Ivy undergrads working of the street who made about 60k with a 50k bonus…”. ^^Okay, do you know non Ivy undergrads? As I’m sure everyone knows, not everyone attended an Ivy program, and not everyone that attended an Ivy and works in finance majored in econ or finance or whatever the school calls it. This is an example of cherry picking the high end, which is the natural tendency because it is fun to think about the best case scenario (nearly 100% bonus, although he did not mention ER or IB. It is sad that people are so poor at reading that I can’t assume ER). Rustyrudder: “100k+ all-in comp 3 years out of undergrad in Finance is pretty common…” ^^^The OP asked for your salary details, not your estimate or what somebody working in “Finance” (like the capitalization) makes, whatever “Finance” is meant to be here. Nuppal: “From what I have heard at BB’s Associated making 220K all-in was pretty darn good. I’ve heard higher (250 range like you mention) but those kids were prodogies.” ^^^Great, I’m glad you’ve heard that. It’s sweet that you are privy to this reliable info to which the OP could never gain access. Canadianloco: “I work in ER, but no, Im not going to share comp. details…” ^^^Kind of inexplicable on an anonymous forum, unless people on here know you personally. Also, why bother posting…talk about value subtracted. SanFranCFA: ” I would think if you’re 3 years out of an MBA program, you should be making north of six figures.” ^^^Again, “I would think” and “should be”. What does this mean? In SF? Such non-information. WTF, just give your comp numbers or stfu. The initial intent of the thread was to get an median for 2008 and 2009 for ER, at which the forum has failed. Explanation: either few people here work in ER, people are posing as ER analysts (pathetic) or few people feel comfortable sharing their comp info on an anonymous forum (which I addressed above). I never worked on the sell side, which, while he did not specify, I assume was the OP’s intent. If he wants all of ER, then you are going to get a biased sample unless you ask people to provide whether they worked on BS or SS. The lesson is that people on this forum are not bound by anything, so why bother soliciting survey numbers when there are far better sources of info out there (network of people you trust, professional surveys, etc). Okay, here is actual info, not criticism. In my group we recently hired an ex-SS analyst, full analyst, VP level, early/mid 30s, in NY, great undergrad, no MBA, very solid and contiguous work experience whom I had the please of interviewing. 2008 base was about 175k and bonus was about 50k in 2008. That is what a guy like that made in NY in 2008 (a sh!tty year). Apologies for the post, but I was reading this on the train and it pissed me off. Maybe I had too much coffee or something. At any rate, thread fail, thread over. Res420, are you a pothead or does your name have some other significance. At least I know you’re a reliable source on that one.
I also read the whole thing, and IHIHM just said that, at age 25 or younger, most people don’t make 100K regardless of qualifications. That’s all. Of course there are exceptions, but people immediately extrapolate, misread, or used anecdotic data to refute the generalization which I think better describes the compensation levels for people at 25 or younger who work in a Finance-related role. As for the personal attacks, I don’t care about the little wars between IHIHM, numi, and many others.
Eureka, I appreciate the insight, however, if you talk about people reading poor, I think your response speaks volumes. I was responding to the quote below when I mentioned Ivy Grads making that kind of money pre-MBA. Your comment is an example of skipping to the end of the forum and making an idiotic judgement. Of course I was cherry picking and my point was not that it was common for undergrads to break six figures, but rather that it does happen. By the way, apology accepted. > Bottom line, if you’re 3 years out of school, MBA > or not, CFA or not, you are not making $100,000. I > don’t care if you or your cousin’s best friend’s > sister’s boyfriend’s illegitimate uncle is a front > office, 23 hour-a-day banker living in New York, > Kansas City, Fidelity, or any other “high paying” > city, you are not making $100,000. Period, end of > story.
By “Ivy League” do people mean actual Ivy League schools or just competitive schools? For instance, Stanford and MIT are not in the Ivy League, but other, not so good schools are. The opportunities available to a new Dartmouth graduate are generally not the same as those available to a new Princeton graduate.
CFAMetal, then you should have quoted it or indicated what you were responding to. My mind reading skills are out of practice. If what you say is accurate, you replied on page 4 to a post on page 1.
Hello Mister Walrus Wrote: ------------------------------------------------------- > By “Ivy League” do people mean actual Ivy League > schools or just competitive schools? When I use it I mean schools in the Ivy conference.
Eureka - agreed
It took almost 70 posts on this thread but finally someone (eureka) speaks some common sense. Like he said, just because you “hear” that Brian Hunter made $100 million at 28 or “think” that everyone should start a hedge fund while studying rocket science at Harvard and make their first billion by 25 like Ken Griffin, doesn’t mean it’s going to happen. I “heard” that numi doesn’t make jack squat in a supposedly lucrative industry and “think” that he should be going to b-school to improve his career prospects, but that doesn’t mean it’s fact just because someone thinks it “should” be. Close this thread up.
numi Wrote: ------------------------------------------------------- > emhdenied: “less than $275K” could mean anywhere > from $0 to $275K. i could be making closer to $0 > or closer to $275K, but what difference does that > really make since I probably make a lot more than you > anyways.
Nice editing job, except for the fact that I never say “anyways” (sp?) Anyway…
iheartiheartmath Wrote: ------------------------------------------------------- > numi Wrote: > -------------------------------------------------- > ----- > > emhdenied: “less than $275K” could mean > anywhere > > from $0 to $275K. i could be making closer to > $0 > > or closer to $275K, but what difference does > that > > really make since I probably make a lot more > than you > > anyways. numi, while your posts are vastly appreciated since you bring a good perspective about the topics you are familiar with, mainly PE, telling someone that his/her compensation is way below yours is very harsh.
True, except I never actually said that. You did see my earlier post saying that was edited quoted text…right? iheartiheartmath Wrote: ------------------------------------------------------- > I am a complete scrub but at least I bankroll > it at Fidelity for $500K annually
numi Wrote: ------------------------------------------------------- > > iheartiheartmath Wrote: > -------------------------------------------------- > ----- > > I am a complete scrub but at least I bankroll > > it at Fidelity for $500K annually +1
thanks man. must be the first time we’ve ever agreed on anything.
numi Wrote: ------------------------------------------------------- > True, except I never actually said that. You did > see my earlier post saying that was edited quoted > text…right? > > Yeah I realized that immediately, but you have to admit it was funny to be preached for something you didn’t said, especially if it comes from me—not exactly the best dude around over here.
true