sharpin1008 Wrote: ------------------------------------------------------- > Top buy side shops (hedge funds) primarily go for > top traders or equity research guys. IBD doesn’t > figure too high in the list because the knowledge > gained as a junior banker is not really of any > value. IBD is great if you wish to make 1-10 MM > but you give away your life for it and for an > amount that does not do wonders. > I am indifferent between 2 MM and 20 MM. 200 MM > and i am interested. Principal investing is the > key. Which is why i wanted to get an individual > brand. Something you can do in first three years > post MBA in ER but not in IBD. > My research told me that upto the VP level in BB > the bonuses can be as high as 200%. > At least that’s the rationale for my short-term > decision. And remember this was 2007 when being in > IBD was not that hot !! BTW would you be surprised > if i told you that over 30% of full-time offers at > one of these two were rejected last year in IBD, > London. > I have no intention to prove my credentials. I > just wanted to check the range of bonuses to > verify my understanding. I have no intention to > boost my ego or collect stats. Else i would not > have been posting test scores last june 
> i don’t have time to pick apart this post, but it pretty much shows that you know little about what you are talking about, whether it’s recruiting, compensation structure, exit opportunities, or just the capital markets in general – for example, if you signed up for ER to start the beginning of 2007 at the same time considering a potential career in IB at GS/MS, you would have had to make a decision on employment in 2006, and so you should have anticipated at the time that the deal environment on both the strategic and buyout side would be very strong (which it was). so you are wrong in your assessment that being a banker during this time was “not that hot.” anyway, i daresay that you are also not GS/MS material, though your fictitious posts have filled me with mirth this afternoon
Numi, don’t be so light on him - tell him what you REALLY think
sarcasm noted…
I work at a large mortgage bank on the west coast. Due to an exceptionally strong mortgage market performance in '07 I am expecting a bonus of $1M. Is that good?
delhirocks Wrote: ------------------------------------------------------- > I work at a large mortgage bank on the west coast. > Due to an exceptionally strong mortgage market > performance in '07 I am expecting a bonus of $1M. > Is that good? lol…nice
I concur with numi 100%. If these companies hired folks like you who can’t even type to save their lives WHAT they are doing and HOW they got there in over 5 internet posts, the subprime crisis would have happened … at least 5 months before it did. Good joke eh? Just as what you are
delhirocks Wrote: ------------------------------------------------------- > I work at a large mortgage bank on the west coast. > Due to an exceptionally strong mortgage market > performance in '07 I am expecting a bonus of $1M. > Is that good? Ha Ha…ya me too except they are paying me in countrywide stock at an '06 cost basis.
Don’t delude yourself about goldie/MS - they’re not all they’re cracked out to be. In my interactions with them, I was really disappointed. One of the fellows I interacted with had HBS and Goldie on his resume and I don’t think he can find his as* with both hands on a good day. Seriously.
I have seen plenty of people at one bank where i worked and a few at another of these top two. Idolize them for all you want but i am not impressed. Quite a few are great with excel but weak on finance fundamentals. I could refer names but then i could be in IT and i have no intention to prove my credentials. I could tell you that bankers moved recently to another building in this bank but then i could be in HR. I made the decision in September 2006 and it was not hot to be a banker, PE yes but banker ?? It’s relative. And i wasn’t interested in doing a job, where i learnt nothing and gave my life up. And there were plenty of others like me. I asked a simple question and expected a simple answer. Instead you start attacking about one aspect of detail (GS/MS). Clearly shows someone is obsessed. Probably a GS/MS wannabe working at Merrill. numi Wrote: > > i don’t have time to pick apart this post, but it > pretty much shows that you know little about what > you are talking about, whether it’s recruiting, > compensation structure, exit opportunities, or > just the capital markets in general – for > example, if you signed up for ER to start the > beginning of 2007 at the same time considering a > potential career in IB at GS/MS, you would have > had to make a decision on employment in 2006, and > so you should have anticipated at the time that > the deal environment on both the strategic and > buyout side would be very strong (which it was). > so you are wrong in your assessment that being a > banker during this time was “not that hot.” > anyway, i daresay that you are also not GS/MS > material, though your fictitious posts have filled > me with mirth this afternoon
sharpin1008 Wrote: ------------------------------------------------------- > I don’t have expensive tastes and i can live in > South East Asia by 500,000. Hence indifferent. Not > because i was born with a Ferrari but because i > have no desire for one. With 200 MM i can do some > things i dream of and that’s interesting. Life is > equally interesting with 1 or 10 MM otherwise. I > saw how so many of these IBD associates and VP’s > looked like…zombies. Erstwhile beautiful girls > turn to dehydrated mushrooms. > This thread seems to have gone bonkers anyway. > Chuck it. Is English your first language? For your sake I hope not.
“I made the decision in September 2006 and it was not hot to be a banker, PE yes but banker ??” Im with Numi on this, in Sept 2006 everyone and their mother wanted to get into banking so they could do 2 years and get a PE gig. People in B-School may have wanted to land PE jobs but for the most part thats not realistic without prior PE or banking experience. Also at that point there had been year after year of record bonuses, record deal flow, record hiring #'s etc. so saying banking was not hot is about as far off base as you can possibly get. People were banging down the doors to get associate/analyst jobs out of b-school/ugrad. Another issue with your so called knowledge of the finance market is your statement that: Top buy side shops (hedge funds) primarily go for > top traders or equity research guys. IBD doesn’t > figure too high in the list because the knowledge > gained as a junior banker is not really of any > value. While I agree that ER provides a better fundamental skill set to work as an analyst at an equity fund in the grand scope of things banking is looked at as more selective/prestigious than ER, therefore in all things wall street (where pedigree/prestige count for a lot) a jr. banker > a jr. ER guy.
sharpin1008 Wrote: ------------------------------------------------------- > I have seen plenty of people at one bank where i > worked and a few at another of these top two. > Idolize them for all you want but i am not > impressed. Quite a few are great with excel but > weak on finance fundamentals. This sounds doubtful. You probably met people that weren’t in IB or ER, or who had just started their associate program. GS/MS IB training is top notch. I also have to ask, in what context did you interact with these people? Unless you were on the buy-side previously, why would you engage in extensive conversation about finance with someone you didn’t really know? And how would you know how good they were with excel if you never saw them? Do you regularly ask friends and acquaintances to build models or recite excel shortcuts for you? > I made the decision in September 2006 and it was > not hot to be a banker, PE yes but banker ?? It’s > relative. PE was obviously in its prime, but who do you think was at the other side of the table making sure that big buyouts and mergers were getting done? Bankers. > And i wasn’t interested in doing a job, > where i learnt nothing and gave my life up. Again, I think if you were interested in learning accounting and modeling, you would have seen the benefits of working in banking. If nothing else, I would have thought that any aspirations to make it to a top buy-side shop would be helped by the networks and relationships you’d build at a top tier banking program. > And there were plenty of others like me. > I asked a simple question and expected a simple > answer. Instead you start attacking about one > aspect of detail (GS/MS). Clearly shows someone is > obsessed. Probably a GS/MS wannabe working at > Merrill. Well, for the sake of argument, even if I were/am at Merrill, at least I can take solace in the fact that there’s some element of truth in what I’m talking about. I gotta say, this is pretty entertaining though. Thanks
This thread is really getting out of hand. At the end of the day sharpin either works for a BB and makes what he says he does or he doesn’t. If he does, then the ones attempting to disprove him look silly. If he doesn’t, then continuing to argue with him only wastes your times while giving him exactly what he wants. Just my $.02
I did 10 weeks of summer stint in IBD there. For the sake of argument if i didn’t have anything to do with IBD or GS/MS, and IBD is just the perfect career, what are the bonuses you guys see in ER? (BTW the models in ER are far more detailed than those in IBD. In many cases i saw the extra details added were to bamboozle the client; in ER the parameters actually count, such as crop prices etc. When it comes to structuring/financing of deals the modelling is of higher quality in IBD but that’s more on lev fin side.) As for entertaining, i am thoroughly amused especially considering that i am sick otherwise. Once again simple question, what is the range of bonuses in ER as % of salary at BB’s sell side. If you want to debate my credentials open another thread and be as vitriolic as you wish. numi Wrote: ------------------------------------------------------- > sharpin1008 Wrote: > -------------------------------------------------- > ----- > > I have seen plenty of people at one bank where > i > > worked and a few at another of these top two. > > Idolize them for all you want but i am not > > impressed. Quite a few are great with excel but > > weak on finance fundamentals. > > This sounds doubtful. You probably met people that > weren’t in IB or ER, or who had just started their > associate program. GS/MS IB training is top notch. > I also have to ask, in what context did you > interact with these people? Unless you were on the > buy-side previously, why would you engage in > extensive conversation about finance with someone > you didn’t really know? And how would you know how > good they were with excel if you never saw them? > Do you regularly ask friends and acquaintances to > build models or recite excel shortcuts for you? > > > I made the decision in September 2006 and it > was > > not hot to be a banker, PE yes but banker ?? > It’s > > relative. > > PE was obviously in its prime, but who do you > think was at the other side of the table making > sure that big buyouts and mergers were getting > done? Bankers. > > > And i wasn’t interested in doing a job, > > where i learnt nothing and gave my life up. > > Again, I think if you were interested in learning > accounting and modeling, you would have seen the > benefits of working in banking. If nothing else, I > would have thought that any aspirations to make it > to a top buy-side shop would be helped by the > networks and relationships you’d build at a top > tier banking program. > > > And there were plenty of others like me. > > I asked a simple question and expected a simple > > answer. Instead you start attacking about one > > aspect of detail (GS/MS). Clearly shows someone > is > > obsessed. Probably a GS/MS wannabe working at > > Merrill. > > Well, for the sake of argument, even if I were/am > at Merrill, at least I can take solace in the fact > that there’s some element of truth in what I’m > talking about. I gotta say, this is pretty > entertaining though. Thanks
skillionaire Wrote: ------------------------------------------------------- > This thread is really getting out of hand. At the > end of the day sharpin either works for a BB and > makes what he says he does or he doesn’t. If he > does, then the ones attempting to disprove him > look silly. If he doesn’t, then continuing to > argue with him only wastes your times while giving > him exactly what he wants. > > Just my $.02 it’s no big deal really…i think what you’re seeing here is just people’s natural disinclination to help others that like to insist on making stuff up
Or that some respondents on this thread have little idea of economic reality. Let’s look at the market. Since your problem is not with bonus % but with base, there should be no confusion http://jobs.efinancialcareers.co.uk/Equities-Research/UK-London.htm These are all associate level equivalent jobs. I would be really surprised if you were even working at Merrill numi. I have no clue what crap shop you work at cuz your assumption of numbers is so far off. So as far as making stuff up goes, everyone knows who is cooking things up Mr. GS/MS pedigree. numi Wrote: ------------------------------------------------------- > skillionaire Wrote: > -------------------------------------------------- > ----- > > This thread is really getting out of hand. At > the > > end of the day sharpin either works for a BB > and > > makes what he says he does or he doesn’t. If > he > > does, then the ones attempting to disprove him > > look silly. If he doesn’t, then continuing to > > argue with him only wastes your times while > giving > > him exactly what he wants. > > > > Just my $.02 > > > it’s no big deal really…i think what you’re > seeing here is just people’s natural > disinclination to help others that like to insist > on making stuff up
It looks like the real issue is that compensation is higher in UK than US. It’s probably the same on a purchasing power basis.
Danteshek Wrote: ------------------------------------------------------- > It looks like the real issue is that compensation > is higher in UK than US. It’s probably the same > on a purchasing power basis. Yes, I would agree with that. I mean, everything in the UK (from what I hear) is about twice as expensive as the US (or Canada) and ex rate is about 2 to 1
Skillionaire, when a guy says: “IBD is great if you wish to make 1-10 MM but you give away your life for it and for an amount that does not do wonders. I am indifferent between 2 MM and 20 MM. 200 MM and i am interested.” It’s an invitation to question just about anything he says… Sharpin1008, clear communication will help hit that 200 MM mark you’re striving for, keep at it, you’re last post was clear and stated a source! Apparently analyst forum is a good place to practice. Congrats on the job sounds fantastic (choose which meaning of the word applies in this situation). And I agree Halifax, 130k + bonus shrivels up when you’re trying to buy a two bedroom flat in London in the 700-1,000k range (our dollars).
US$90-100K plus 100% bonus shrivels up pretty quickly in NYC when your’re trying to buy a studio/ one bedroom in the 700-1,000k range. The cost of living has not increased much at all over there compared to times when the $US/Euro were on par…I dont think inflation has been any higher than it has been in the US. I guess you just get paid more over there.