But for good students at the upper-ranked universities, tech presents a better lifestyle, higher $ per hour in entry-level roles, and a better culture.
Or anything else? Personally, I would still never work in tech at a bank (maybe with a few exceptions) because you’re still treated poorly no matter how much you contribute.I agree about the lower taxes, but I don’t think the cost of living is cheaper… and housing stipends seem to be less common/generous in HK these days.But I’m sharing these numbers and explanations to make a few other points as well:I stopped writing annual bonus predictions and investment banker salary reports because they stopped being useful – there was no longer one standard bonus, banks started paying bonuses at different times, and pay between banks began to vary.Then there’s the fact that not all MDs have families, not all MDs are in New York, etc., etc., but the point of all this is very simple:Numbers in the UK looks right.
But the point remains the same: IB is not a pathway into super-early retirement in an expensive place. Could you also comment on the pay ceiling between finance and tech industry? Normally I would not even reply to a comment like this, but others might be confused about the Glassdoor figures as well, so here goes:You’re asking about completely different fields so there is no way to answer your question without knowing your real goal.
However, does it also increase as quickly as the bankers? I’m really interested to see how those numbers differ.And you earn those amounts with far less work: normal, 40-50-hour weeks rather than 70-80-hour ones.After 10 years, that amounts to about $1.4 million in savings.At some of the smaller banks, such as the elite boutiques, the Bonus will be 100% Cash, which is almost always seen as an advantage.Your salary figures for all levels seem to be between two and three times the reality. Intern Salaries posted anonymously by Lazard employees. Work until you die!
According to Glassdoor or Indeed, which have hundreds of reported salaries, the truth is more like :In gateway cities like NY, SF, and CHI where banking jobs are located, income taxes are 50%. Your information will not be shared.Hi Brian, do you have any idea what the standard cash v. equity breakdown is for full year bonuses for 1st year analysts at the top bulge brackets is? If you’re a top sales rep, you can get there pretty quickly in tech; if you’re on the engineering or product management side, it will take a lot longer because you do not directly generate revenue.I have never found good/reliable numbers for public finance teams, unfortunately. The pay ceiling is lower, sure, but most people quit finance before they even reach the ceiling.Also, my strategy of using the bank’s IB revenue growth rate to determine the bonus growth rate became less predictive over time.Hello there i was wondering if people are having trouble finding jobs in this field or not. For example, for a long time, IB Analysts earned $60K, $70K, and then $80K… but then banks bumped up salaries by $10K, and then they increased base salaries again.Hey Brian you mentioned the pay for the analysts and all the other positions but what about specific groups in the IB? Salaries and bonuses are almost always far lower at those firms for obvious reasons (size matters).What is your opinion? Plenty of classmates at Stanford who were not-so-competent found positions at those companies, and that’s when the companies were smaller and more selective.Maybe $100K all-in as an Analyst, rising to $300-$400K as a Director.4) Finally, check some other sources that do real industry surveys instead of just asking random people online… they’ll all be close to the numbers here:3) The Glassdoor figures are on a trailing basis, i.e. Lazard has turned out to be a perfect fit for me because of its size. Our new recruits work in a collaborative environment alongside our most senior people. I don’t know.“So… point taken. But it depends heavily on the company you’re at, your role, etc.
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