[The West Wing]

(Original post by jacketpotato)
made me laugh




Lock-step salaries continue until around 9 PQE at 130-150k plus bonus. Have a look at the table at the bottom of this article --> http://www.thelawyer.com/uk-associat...008358.article.

This is good to hear. Thanks for the link. The senior associates who were moaning to me about how their salary hasn't gone up for 5 years are clearly exaggerating. Having said that though the jumps get a lot smaller when you take into account the tax rates and the fact that above 100k you start losing your tax free allowance.

[Tsunami2011]

(Original post by cyfer)
Yeah I am quite interested in this because I want to go into banking/investment banking however I want to study physics at University. Mainly this is because it is unrealistic to assume you will be able to maintain a family with the salary that most physicists earn unfortunately. And certainly living standards come into question (please don't neg me with an argument of how living standards do not constitute quality of life).

Any idea how those with physics degrees perform in the job market for banking?

With a Physics degree from a top university, you can make it into banking no problem. somewhere like Imperial is a breeding ground for quants for the IBs, so a degree as quantitative as Physics will allow you to make it into FO if you're a strong candidate and have the aptitude to succeed in the industry.

Edit:
Yes you don't want to do a job for the money but with some professions it becomes a serious issue. Also you might find that some jobs really aren't as boring as they might sound e.g. banking is incredibly complex and interesting once you go into it, especially looking at the historical and political side of it and how it may affect events in the present and future market. You just have to engross yourself into it

We don't all have the luxury of following our hearts instead of the £ signs. Often, it's the people who are from wealthier families who can afford to spout the lines that you should not choose a career based on potential earnings, hence why subjects like History of Art and Classics have the highest private school intake. I personally think banking or law is a more rewarding career path than primary school teaching, yet it's the latter who get all the flak.

[Brevity]

(Original post by Tsunami2011)
I personally think banking or law is a more rewarding career path than primary school teaching, yet it's the latter who get all the flak.

Sometimes, at 3am, when I'm flagging but have been forced to redraft sale purchase agreements for multi-million dollar companies or research derivatives volatility for potential trades, I think to myself: "what I'm doing right now is definitely more rewarding, as well as contributing more to society, than (i) teaching the young; (ii) healing the sick; (iii) defending the innocent; (iv) taking care of the elderly; (v) fighting wars. Thank God I wasn't as short-sighted or as selfish as those bastards".

Thus, I return to my task with a renewed sense of vigour and purpose. Right on!

[Xhotas]

MDMA only costs £40 for a gram, that's 2 months worth.

Who needs money when we have drugs that biologically force you to be happy? God.


Plus before the neg this is a light-hearted joke, though if I get anti-drug crap I will bite back.

[Tsunami2011]

(Original post by Brevity)
Sometimes, at 3am, when I'm flagging but have been forced to redraft sale purchase agreements for multi-million dollar companies or research derivatives volatility for potential trades, I think to myself: "what I'm doing right now is definitely more rewarding, as well as contributing more to society, than (i) teaching the young; (ii) healing the sick; (iii) defending the innocent; (iv) taking care of the elderly; (v) fighting wars. Thank God I wasn't as short-sighted or as selfish as those bastards".

Thus, I return to my task with a renewed sense of vigour and purpose. Right on!

lol I see your point, but in all honesty, many teachers that I know were primarily in the job to make ends meet, rather than to educate the minds of tomorrow...Also 'defending the innocent' isn't that the job of lawyers/barristers?

[Profesh]

(Original post by Weeves)
Clifford Chance Law firm for example: give you your own office with a great view over canary wharf, swimming pool, gym, shops, restaurants and it has international brothers and sisters making it easy to experience some international law!

Despite its rather regal connotation, I don't think the phrase 'cloakroom privileges' means what you think it means.

[cyfer]

(Original post by Tsunami2011)
With a Physics degree from a top university, you can make it into banking no problem. somewhere like Imperial is a breeding ground for quants for the IBs, so a degree as quantitative as Physics will allow you to make it into FO if you're a strong candidate and have the aptitude to succeed in the industry.

We don't all have the luxury of following our hearts instead of the £ signs. Often, it's the people who are from wealthier families who can afford to spout the lines that you should not choose a career based on potential earnings, hence why subjects like History of Art and Classics have the highest private school intake. I personally think banking or law is a more rewarding career path than primary school teaching, yet it's the latter who get all the flak.

Thank you again. You seem very knowledgeable on this subject so I hope you don't mind me asking you more questions.

Do you know how a degree in physics may differentiate from a degree in economics when it comes to banking, for example will you be given different tasks/jobs or will I be aiming for the same job as someone with an economics degree?

Furthermore I'm still slightly confused how a physics degree would help in banking. Yes all the skills and way of thinking are hugely similar and very transferable however wouldn't one still have to take some sort of extra course to understand the financial market?

[Tsunami2011]

Do you know how a degree in physics may differentiate from a degree in economics when it comes to banking, for example will you be given different tasks/jobs or will I be aiming for the same job as someone with an economics degree?

An Economics degree is more relevant, but in terms of applicable skills there is not much different. You need to do research on all the divisions and see which interest you. If you do make it into the same division as an Econ student, you'll be doing the same work, from then onwards your degree won't matter unless you're going for one of the very quantitative roles.

Furthermore I'm still slightly confused how a physics degree would help in banking. Yes all the skills and way of thinking are hugely similar and very transferable however wouldn't one still have to take some sort of extra course to understand the financial market?

That's something which should come through your own research/determination and you'll be taught on the job. You won't be expected to be an expert before you start, but the financial markets aren't really that hard to understand.

[criminal]

(Original post by Super Mario 64)
You will be paid well for anything.

Spoiler:

Show

As long as you're good at it.

Thats my profession

[Meee123]

Well, I live on a road that has many professional people and one of my neighbours who is a solicitor is on £31k earns less than other neighbours who are in various management positions (ones a general manager at tesco!) and a social worker and business owner, yet still thinks he's better than them just because he works in law. Clearly, he can't be the bees knees if she's still earning that after a few years working as a lawyer.
What exactly is soo 'prestigious' about working in law anyway? His wife is a legal secretary, which is quite a nice respectable job, but still not exactly 'it'...also is very upperty and think she's better than everyone too. What is it about law lol.

[roh]

(Original post by Tsunami2011)
lol I see your point, but in all honesty, many teachers that I know were primarily in the job to make ends meet, rather than to educate the minds of tomorrow...Also 'defending the innocent' isn't that the job of lawyers/barristers?

I know a lot of teachers and most are in it for a bit of both. Certainly they all find the most rewarding aspect to be when you have a really good lesson, whereas I suspect for many lawyers and bankers it's pay day. I'm fairly certain other jobs are more rewarding/worthwhile than corporate law. I hardly imagine coming back from a day at work and telling my girlfriend (ambition paediatric oncologist) 'I just closed a massive deal and went out on the client's budget to get trolleyed, what did you do today that was as rewarding as that whilst saving the kiddies from cancer?'!


If the innocent pay enough it is

[Norton1]

(Original post by roh)
I know a lot of teachers and most are in it for a bit of both. Certainly they all find the most rewarding aspect to be when you have a really good lesson, whereas I suspect for many lawyers and bankers it's pay day. I'm fairly certain other jobs are more rewarding/worthwhile than corporate law. I hardly imagine coming back from a day at work and telling my girlfriend (ambition paediatric oncologist) 'I just closed a massive deal and went out on the client's budget to get trolleyed, what did you do today that was as rewarding as that whilst saving the kiddies from cancer?'!

If the innocent pay enough it is

I watched a show about child cancer. Most of them die, so I imagine she'd be on a pretty major downer pretty much all of the time (I know that sounds terrible and they're wonderful people that try and help, but I could in no way handle it). Personally I think oiling the wheels of capitalism would make me happier than that.