investment banking (3 Viewers)

[loapowm]

yea it seems pretty crazy

It is.

You get paid 6 digitals (low six) for 120+ hours a week.

No one last really that long

 

[sunny199]

I've heard when you 10 + years in and get the highest job title you make millions

 

[loapowm]

I've heard when you 10 + years in and get the highest job title you make millions

If you get a partner.

But to do that. You need to be good. Really good. However you wuold have spent every week 120+ hours at the office. You wouldn't take holidays - because of the nature of the work.

To achieve that you have no life legit.

Also your work shouldn't be about $$$

 

[sunny199]

yea i know but after all the hard work you should at least make decent money

 

[loapowm]

ye mate but sadly powlmao is going to hold all these positions. he got past the first round of the ubs cadetship man!!!

MAN!

I got it dude!!

 

[loapowm]

yea i know but after all the hard work you should at least make decent money

Not really.

You get taxed alot plus you never can spend it.

 

[Newbie]

some information for your reference


i worked about a total of 2 hrs last week hahahahaha thats why i was on BOS so much during the day

my friend at ubs did about 15 hours of work and he was pissed lol. july-august is the quiet time for banking in the northern hemisphere

120 hr weeks do occur but the average is 80-90hrs at the analyst level, improving to an average of 60-70 after 3 years.

base pay is 130k in sydney. first year analyst bonus range is 7-9 months of that. total first year pay 180k+

 

[loapowm]

some information for your reference


i worked about a total of 2 hrs last week hahahahaha thats why i was on BOS so much during the day

my friend at ubs did about 15 hours of work and he was pissed lol. july-august is the quiet time for banking in the northern hemisphere

120 hr weeks do occur but the average is 80-90hrs at the analyst level, improving to an average of 60-70 after 3 years.

base pay is 130k in sydney. first year analyst bonus range is 7-9 months of that. total first year pay 180k+

Where do you get these figures from?

 

[loapowm]

some information for your reference


i worked about a total of 2 hrs last week hahahahaha thats why i was on BOS so much during the day

my friend at ubs did about 15 hours of work and he was pissed lol. july-august is the quiet time for banking in the northern hemisphere

120 hr weeks do occur but the average is 80-90hrs at the analyst level, improving to an average of 60-70 after 3 years.

base pay is 130k in sydney. first year analyst bonus range is 7-9 months of that. total first year pay 180k+

Besides the hours. I know August is pretty quite usually

 

[enoilgam]

so are you saying investment banking is a bad field

Not necessarily - what I think most people are saying is that whilst there is quite a bit of money to be made in the field, the amount of work which goes in is pretty high.

 

[loapowm]

Not necessarily - what I think most people are saying is that whilst there is quite a bit of money to be made in the field, the amount of work which goes in is pretty high.

This

Money is pretty decent (for first year uni grad)

But you are expected to do so many hours.

Its very subjective. Many will find this terrible. Some may like it.

 

[Newbie]

i've been working in a bank for 4 years now
trust my numbers

 

[loapowm]

i've been working in a bank for 4 years now
trust my numbers

I believe you.

Which bank?

You'r located in Sydney right?

 

[Newbie]

no im in hong kong

 

[Newbie]

for an American bank

 

[loapowm]

no im in hong kong

Pretty good work there.

To be honest. I want to do IB. Don't quite mind the hours- I am very anti-social so it won't bother me (I am very social in work situations however)

Fuck i can't wait.

A economics degree with a major in finance and economictrics should be enough? (with good grades)

 

[Newbie]

lol do what you gotta do man
dont forget to enjoy uni life

i do like this line haha "I am very anti-social so it won't bother me (I am very social in work situations however)"

 

[loapowm]

lol do what you gotta do man
dont forget to enjoy uni life

i do like this line haha "I am very anti-social so it won't bother me (I am very social in work situations however)"

Fuck mate. I am going to party hard at uni. Settle down at work. Sell myself and retire young

 

[seremify007]

120 hr weeks do occur but the average is 80-90hrs at the analyst level, improving to an average of 60-70 after 3 years.

base pay is 130k in sydney. first year analyst bonus range is 7-9 months of that. total first year pay 180k+

I'd only caveat that post with the current state of financial services, the expectation of a bonus in that range has definitely fallen. From speaking with a few mates around the place, the bonuses in Sydney are closer to the 10%-30% range and not in the 50%-100% range where they used to be (for graduate analysts).

 

[Newbie]

I'd only caveat that post with the current state of financial services, the expectation of a bonus in that range has definitely fallen. From speaking with a few mates around the place, the bonuses in Sydney are closer to the 10%-30% range and not in the 50%-100% range where they used to be (for graduate analysts).

oh really? shiiie i aint coming back lol
but seriously? thats a bit low/rude - sounds like macquarie bank to be honest
my sydney friends were paid ok. different banks perhaps or different ranking


our guys got 9 months here (75%). this was last week