is it really that well paid????

The comments about the hours getting easier as you progress are increasingly less valid BTW - there are so many hungry young accountants (many of them from Germany) being taken on at the big banks that the pressure carries on all the way up the ranks - in the old days of the european banks, it used to be easier, but with the yanks taking over, the workload is unrelenting. You know Americans - they view it much more worthy someone who works hard all their live than someone who gets lucky on the lottery aged 21. Me - I know where I'd rather be.

To an extent the pressure depends on US vs. European banks, though that will also reflect in your bonus package at year end. It's nowhere near as much fun as it was 10 years ago though, that's for sure.

Reply 41

Cellardore

11

perkyDani

iv heard so many people on tsr , especially those doing less practical degrees like maths, say that they jus want to go into banking for the money, get loaded in a few years and then go back to doing what they luv, like researching
,
but surely its not that easy, commercial jobs dont pay that well at the beginning and getting experience to get to the top takes just as much time everythng else. anyway it seems many ppl working in i and f arent that well paid- similar to a doctor who always complain of earning way too little

am i wrong or are they people being totllly unrealistic

I wouldn't listen to too many people on tsr. Half of them haven't even got their degree let alone any experience working in the real world. When you come out of uni, there are going to be loads of people in the exact sitaution as you, getting you're degree is only half the battle. If you want to get to the top you're going to have to work hard, accept that you may have to do mundane jobs to get there and get experience.

Reply 42

ThePants999

14

LH

And I think you'll find that it equates roughly to £26k for people who work the normal 40 hour week.

And that's before you take into account the fact that you lose a much greater proportion of 65k in tax than you do 26k. Net of income tax, NI and student loan repayments, 65k is only 39k, and the 40-hour equivalent is 15.5k net (about 21k gross). :smile:

Reply 43

James377

I am doing business economics and computer science at liverpool university. I have great skills in programming and economics and also have studied modules in securities and markets etc. I applied to BNP Parabus but they declined my offer (for some reason....they couldnt spot by bright potential)...anyway moving on...i really want to do a summer internship in IT for investment bank, however iv become very disheartened with applying as i have applied to goldman and deutch bank and they didt even respond. What should i do next? does anybody know anybody in IT that i could contact regarding a summer internship or just work experience for the summer? thanks people.

Reply 44

shiny

12

perkyDani

iv heard so many people on tsr , especially those doing less practical degrees like maths, say that they jus want to go into banking for the money, get loaded in a few years and then go back to doing what they luv, like researching

I wonder how many people who leave banking actually go back to doing what they wanted to do in the first place? Or do they just move into a job which is just more comfortable but not necessarily what they wanted to do as a youngster.

Reply 45

richie_p

James377

I am doing business economics and computer science at liverpool university. I have great skills in programming and economics and also have studied modules in securities and markets etc. I applied to BNP Parabus but they declined my offer (for some reason....they couldnt spot by bright potential)...anyway moving on...i really want to do a summer internship in IT for investment bank, however iv become very disheartened with applying as i have applied to goldman and deutch bank and they didt even respond. What should i do next? does anybody know anybody in IT that i could contact regarding a summer internship or just work experience for the summer? thanks people.

What are your A-level results? What are your modules so far? Will you get a 1st? The quality of competition could be quite high so I wouldn't feel too disheartened and internships tend to be more competetive. Try searching for less well known financial organisations, I have seen some small consultancies on the internet or on insidecareers (IT focus). What type of IT work do you want to do? Many companies including Investment Banks outsource their work to people like Detica, Accenture, etc. So you could always consider joining a consultancy instead.

Reply 46

tangoman444

1

Hi guys, i'm i've got conditional offers from Bath and Manchester for Economics. Do you think it's possible to get a job into IB with an eco degree? and which uni is better has a better reputation for IB? thanks

is it really that well paid????

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