Different salaries within IB

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http://career-advice.monster.co.uk/salary-benefits/pay-salary-advice/uk-average-salary-graphs/article.aspx

So easy, either invest the time if you think you'll be good at it (and will make a ton), or stay where you are.

But to dismiss it as "low" is more than ludicrous.

The average graduate salary is £26k, I'm sure many in this section would call that low. It's all relative.

Reply 21

Mirey

Original post by i_hate_teeth

The average graduate salary is £26k, I'm sure many in this section would call that low. It's all relative.

Average grad salary is probably even below that.

You're right, it is relative. I'm sure many in this section would call £55k average, not low.

If you're going to make bogus statements, at least make sure the arguments you use to support them actually do.

Reply 22

i_hate_teeth

Original post by Mirey

I got that value from google, I have no idea how accurate it is. It's not something that I care about.

Reply 23

Miyavi

Original post by i_hate_teeth

Wow, seriously? I had no idea the comp was that low. Is that for FO roles?

that's base the best of your group in a top tier BB can get 40k in bonus (well this was true at least in the better years).. probably not so much anymore. i'd imagine someone who's good would get around 20k+ in bonus. there's also a sign on bonus which is around 5k i think so your total comp for first year in FO top tier BB is around 70k.

Reply 24

i_hate_teeth

Original post by Miyavi

70k is a decent salary, but what does being 'the best of your group' entail exactly?

How many weeks holiday do first year FO employees get?

Reply 25

gammawharf

Original post by i_hate_teeth

70k is a decent salary, but what does being 'the best of your group' entail exactly?

How many weeks holiday do first year FO employees get?

25 days

Reply 26

GradNav

Original post by i_hate_teeth

70k is a decent salary, but what does being 'the best of your group' entail exactly?

How many weeks holiday do first year FO employees get?

"Best of your group" is normally the top 10% or so of your immediate peer group in your business area

Reply 27

i_hate_teeth

Original post by GradNav

"Best of your group" is normally the top 10% or so of your immediate peer group in your business area

Do you know what the starting salary is for a trader at Jane Street in London?

Reply 28

GradNav

Original post by i_hate_teeth

Do you know what the starting salary is for a trader at Jane Street in London?

Afraid not. All firms keep their starting salaries top secret at this time of year. Last year starting salaries in most firms were c.£45k. Doubt many would have had approval this year to increase salaries (if at all).

However, somewhere like Jane Street would have a less rigid comp structure and is less hierarchical than other larger firms with numerous departments and as such if you do well you could be looking at sizeable bonuses from the outset.

Reply 29

Miyavi

Original post by i_hate_teeth

70k is a decent salary, but what does being 'the best of your group' entail exactly?

How many weeks holiday do first year FO employees get?

as far as i've heard its dependent where in FO you work. for example in IBD it's more dependant on how your team perceives you rather than the actual quality of work, which obviously would be to a high standard by most anyway. these guys are working with you 14+ hours a day so they wanna enjoy your company the most.

for trading i'm guessing your P&L would be a good indicator :P but more obvious if you know your ****.

they get standard 25 working days but as you probably can guess you cant take them whenever if you have a huge deal on for e.g.

Reply 30

GradNav

Original post by Miyavi

Yes, in IBD holidays will need to be worked around deals (at all levels of seniority), and to maximise your comp, being both good at your job and fitting in well with your colleagues is hugely important.

1 more post to go Miyavi till the big 1,000.......make it a good one!

Reply 31

hypercaine.

Original post by i_hate_teeth

I'm in a different situation to most on here, in terms of career prospects.

You are correct £55,000 is not low for someone who is employed in an entry level job, but to me £55k pa would be a huge step backwards. Also, after tax and NI you're looking at about £32k.

A huge step backwards for you? :lol:

Have you even started university yet?

Reply 32

i_hate_teeth

Original post by hypercaine.

A huge step backwards for you? :lol:

Have you even started university yet?

Yes, have you?

Reply 33

hypercaine.

Original post by i_hate_teeth

Yes, have you?

Yep. How would that be such a huge step backwards for you? I know youre a troll but seriously?

Reply 34

i_hate_teeth

Original post by hypercaine.

Yep. How would that be such a huge step backwards for you? I know youre a troll but seriously?

It would be a huge step backwards as I currently make much more than that. The only reason I am applying for internships is because my business partner beleives that I will benefit from the professional experience. Any other questions?

Reply 35

hypercaine.

Original post by i_hate_teeth

Sounds legit...whats your business? Last time I heard about you, you werent even at university...

I know I shouldnt feed the troll but cant help it :colone:

Reply 36

i_hate_teeth

Original post by hypercaine.

Sounds legit...whats your business? Last time I heard about you, you werent even at university...

I know I shouldnt feed the troll but cant help it :colone:

If that's the last time you heard about me then I'm assuming you're calling me a troll because people back then thought I posted fake university offers?

Reply 37

GradNav

Interesting article here which talks about new graduate comp:

www.efinancialnews.com/story/2012-09-04/got-university-debt-work-at-deutsche

Reply 38

Miyavi

Original post by GradNav

Okay, I'll try to make it the most epic post ever.

Reply 39

Rufio

Original post by i_hate_teeth

Sounds like a Saverin 2.0

In all honesty, why would you want to go into IB if you're successfully managing your own business? You don't really obtain anything transferable out of IB aside from a solid financial knowledge, whilst managing your own company does.