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£70k starting salary!!

I will explain the situation:

This guy I know is applying for History at UCL, Warwick, Oxford, St Andrews and Sussex.

He claims that after uni, he can go straight into a job in IB earning £70,000 a year. Straight away. Without a maths-related course. With no experience....

I have read that the average graduate salary in IB is around £35k per year. Is this guy the biggest tool in the history of mankind or is there some truth in his claim?

Cheers

(Oh, and he got rejected from Oxford the other day.)

Scroll to see replies

Reply 1

a_t

You can be on six figures straight out of uni if you go into one of the big banks, lots of bankers have done history

haters gonna hate

(edited 13 years ago)

Reply 2

sete

Improbable, but not impossible.

Reply 3

thegaffer91

From what I am aware, base salary wise very little chance, but if he is brilliant in his first year, has other big firms after him and is loved by the MDs, base+bonus might be 70k+

IB ?

If he's got connections, through his parents if any, he could possibly get the job. However unless he does amazingly at a top uni it's unlikely, especially with history. I'm not saying it's impossible to be an IB with history just that starting sallary seems to be a bit inflated. :cool:

Reply 6

Dude Where's My Username

According to a Prospects book I picked up recently, if you joined a Barristers chamber, you start on £60,000 a year. I never realised anyone got paid that much fresh out of uni :lolwut:

Reply 7

unknown demon

Plenty of my friends in finance cleared £70k total compensation last year. Quite comfortably as well.

Reply 8

GodspeedGehenna

Original post by al_habib

IB ?

Irritable Bowel, I believe.

Reply 9

boromir9111

Original post by GodspeedGehenna

Irritable Bowel, I believe.

lol.

Reply 10

Phobia27

Original post by GodspeedGehenna

Irritable Bowel, I believe.

"Please rate some other members before rating this member again."

:nooo:

Reply 11

boromir9111

Original post by al_habib

IB ?

Investment banking.

Reply 12

Quady

Original post by al_habib

IB ?

Which forum are you in...?

Reply 13

Sybelius

His claim is very unlikely to be true. But, after a couple of years post-uni, it's certainly possible. Even as a junior solicitor in the city, you're looking at £60k but only after doing training for 2 years.

Reply 14

unsung_hero

Original post by jasbir909

IB starting saleries this year range from around 45k-60k so it is possible that the 70k base salery could be broken in 3/4 years time, when this candidate will start a grad role.

In answer to your Q, yeah he can work in IB without maths, many do! Banks are very diverse and need a strong well rounded talent pool. Having said that, getting a position in a bank is very competitive and only the best are successful.

Reply 15

Don John

If you're a maths PhD going into a small hedge fund firm, then yes £70k. But not to a history graduate, no offence.

Reply 16

7589200

base plus bonus = £70k for an analyst 1st yr is possible
two hurdles
oxbridge/lse degrees are prefered - they get interviews more easily, once ur thru the door, its nebodys to get, however
and two, he has to perform well to make that bonus

so improbable not impossible is spot on