SMIRK Wrote: ------------------------------------------------------- > If I was working in finance and couldn’t outearn > an elementary school teacher I would reconsider my > career choice. I do- but not on an hour to hour basis- according to my calculations (I know to the penny what she makes bc I do her taxes ) I’d have to make 140k if I were to work 55 hr weeks w/ 2 weeks off a year. I don’t. Someday I will- but she won’t get more than COL raises from here on out. I don’t think there is a better job for a woman who wants to follow a traditional role. typo
Part-time Crook Wrote: ------------------------------------------------------- > akanska Wrote: > -------------------------------------------------- > ----- > > I don’t think so at all- I actually got a 30% > > raise to move here from OC and consider myself > > beyond lucky to be making what I am. BUT- Its > > kind of hard to overcome three months off and > 32 > > hour weeks- even if you are only putting in > 50ish > > a week. I make more than her but not too much- > > she’s doing really well for an elementary > teacher- > > smart enough to take online ‘masters’ courses > to > > get herself into the top scales. > > > > Where I win is that I’m just starting and my > > potential is sky high- whereas she’s pretty > darned > > close to the max. BUT then again- she can > retire > > in 10 years (after 20 yrs of service) and > collect > > a 80% pension while working another job. > > > > You also have to add in the savings she has due > to > > the limited hours. I don’t have kids now, but > > when I do I’ll be paying through the wazoo to > have > > someone watch them while she’s picking them up > > from school every day. I’m not arguing that > > she’s overpaid and that ppl in finance are > > suffering- just pointing out that one does have > to > > consider the hours involved. > > Ask you sister to pick up from school and daycare > your future children when she’s retired collecting > 80% for doing nothing. It’s family, she can’t say > no being that lucky. right!!! that would be nice- but it would also mean I’d have to move back to newport beach where housing is 3x as expensive and for some sick reason the wages are lower than dallas!
40-60 depending on the bank and CAMELS factor assigned.
Around 35/wk I guess, why would anyone want to work 60 freakin’ hours a week?!
50 is the average. the worst weeks (very rare lately, but used to be more common) are closer to 65. i rarely ever get in under 45 (8-5) since it’s tough to leave early, even if work flow is low.
My hours can vary widely. Some weeks I’ll put in 70+ while others I’ll put in between 40 and 50 hours. The 70+ weeks are much less frequent than the 40-50 hour weeks.
dspapo Wrote: ------------------------------------------------------- > 50 is the average. the worst weeks (very rare > lately, but used to be more common) are closer to > 65. i rarely ever get in under 45 (8-5) since > it’s tough to leave early, even if work flow is > low. You are obviously including lunch time and various breaks in your 45 hour (8 to 5) workweek.
correct. i take an about an hour for lunch most days, so it would be 40 otherwise. i’m not going to take the time to adjust for bathroom breaks, walking to and from the coffee pot, waiting for meetings to start, or waiting for decks to print.
^ LMAO
akanska Wrote: ------------------------------------------------------- > SMIRK Wrote: > -------------------------------------------------- > ----- > > If I was working in finance and couldn’t > outearn > > an elementary school teacher I would reconsider > my > > career choice. > > I do- but not on an hour to hour basis- according > to my calculations (I know to the penny what she > makes bc I do her taxes ) I’d have to make 140k > if I were to work 55 hr weeks w/ 2 weeks off a > year. I don’t. Someday I will- but she won’t get > more than COL raises from here on out. If I was working in finance and couldn’t outearn an elementary school teacher by 1.33x (12 months of work vs. 9 months) then I would reconsider my career choice.
SMIRK Wrote: ------------------------------------------------------- > akanska Wrote: > -------------------------------------------------- > ----- > > SMIRK Wrote: > > > -------------------------------------------------- > > > ----- > > > If I was working in finance and couldn’t > > outearn > > > an elementary school teacher I would > reconsider > > my > > > career choice. > > > > I do- but not on an hour to hour basis- > according > > to my calculations (I know to the penny what > she > > makes bc I do her taxes ) I’d have to make > 140k > > if I were to work 55 hr weeks w/ 2 weeks off a > > year. I don’t. Someday I will- but she won’t > get > > more than COL raises from here on out. > > If I was working in finance and couldn’t outearn > an elementary school teacher by 1.33x (12 months > of work vs. 9 months) then I would reconsider my > career choice. I’m curious how to think about this post when I said something similar about people earning 30k-40k on another thread and you said that is what entry level people make. What do entry level teachers make where you are? Do teachers make less than 30-40 from your experience?
Yes.
Investment Banking - (8:30am to 2:00am, during peak season) Equity Research - (7:00am to 9:00pm, if we stay past 8:00pm the company buys us dinner =), and weekends to get the weekly publication out on Monday) Long/Short Hedge Fund - (7:00am to 5:00pm, no weekends)
Capital Markets has brutal hours.
@u416047 What BB were you at with those hours for research? How many hours on the weekend? What did stub bonuses look like for first years? How big is the L/S fund you are at and where is it located? Thanks!
It was Banc of America Securities before Merrill Lynch took over and they laid everyone off… On the weekends I would come in at noon and leave by 5pm on both Sat and Sun on a normal week, sometimes I would just spend the night if I had 3-4 companies report on the same day as I would need to update the model and write comprehensive notes…my girlfriend at the time didn’t like my job at all =) L/S hedge fund is tiny (< $50mm) located in TX…It was me, a partner, and a principal…
@u416047 Thanks for the insight. Any idea how it has changed since the ML integration? What industry did you cover and what analyst did you work for? Any idea how it varied across different industries (ie are some worse than others with hours)? Thanks again.
u416047 Wrote: ------------------------------------------------------- > L/S hedge fund is tiny (< $50mm) located in > TX…It was me, a partner, and a principal… Seems like Texas hasn’t been representing too well on the compensation front this year.
SMIRK Wrote: ------------------------------------------------------- > Yes. http://swz.salary.com/salarywizard/layouthtmls/swzl_compresult_national_ED03000010.html Not vouching for the legitimacy of this website, but I know a few teachers and the median here is pretty much in the ballpark of what they make.
I was 1 of 2 research associates that covered 35 oil service stocks under coverage. We came in 3rd on the institutional investor rankings … At that time: 1) crude was above $100 2) energy sector was the hot sector to be in so the hours are gonna be above-average. Obviously if you work for a senior analyst at a smaller shop that covers only 12 small-cap stocks, your quality of life is gonna much better cuz there is less news and work to be done… The analyst I worked under is a top guy, so we were always publishing sector calls and industry outlooks, which followed a strict investment framewok, thus requiring alot of industry databases to be built and utilized to come up with new fresh ideas… No idea how the ML integration is doing…they are cranking out those reports everyday last time I check (which was this morning)…=) It was a great experience while it lasted but if asked to do it again I would say no…knowing what I know today