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    (Original post by Princepieman)
    J-SP speaks the truth, age isn't really a big factor if at all in how much you get paid.

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    Probably less and less as we progress into modernity. But in the past it was the defining factor.

    And sorry, I am not going to take you seriously if you say something like age not being a factor at all.

    I mean in the literal sense you are correct, people don't look at age, but at experience, however, the two are in most cases so heavily correlated that to say age is irrelevant is naive. In fact, in many studies age is taken as a proxy for experience.
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    (Original post by J-SP)
    No not that instance. Although the same theories still apply. Comparative roles I know of for people who typically are that age can still vary significantly between sectors.

    A 24 year old could have easily not worked a day of their life and have no qualifications/education to their name. Another 24 year old could have an under graduate degree, a post-graduate professional qualification and 3+ years relevant experience. The salary expectations and what would be a "good salary" for either of those two people are going to be vastly different.
    Sorry but so what?

    The OP's question was completely general. You can have a bar chart showing wages by age. You can have one by sector. You can have one combing the two.

    I am not saying you are wrong, but in the grand scheme of things, earning almost 20% more than the median income at age 24 is "good", considering that in all likelihood OP will earn as his career progresses.

    https://en.wikipedia.org/wiki/Income...United_Kingdom
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    pretty poor for a london salary to be brutally honest with you
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    (Original post by inhuman)
    Traders at GS/MS/whatever other *****y bank? Good for you.
    Mix, not all of them are traders. Some private equity, some IB, some in hedge funds, some at tech companies etc.. Since when are GS/MS *****y banks? lol
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    (Original post by Princepieman)
    Mix, not all of them are traders. Some private equity, some IB, some in hedge funds, some at tech companies etc.. Since when are GS/MS *****y banks? lol
    They are banks. Hence they are *****y.

    Oh and I still somewhere have a GS contract lying around
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    I wouldn't like to see how far £24k would get me in London, but then everyone is different. My girlfriend manages to save about the save as me each month even though she earns around £10k less. It's as much about how you spend/budget as it is about how you save.
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    (Original post by neal95)
    pretty poor for a london salary to be brutally honest with you
    It really depends on the circumstances. If this person is a finance apprentice this would be an exceptional salary.


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    Depends on experience. First ever job so 0 experience? Good starting salary.
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    (Original post by inhuman)
    Sorry but so what?

    The OP's question was completely general. You can have a bar chart showing wages by age. You can have one by sector. You can have one combing the two.

    I am not saying you are wrong, but in the grand scheme of things, earning almost 20% more than the median income at age 24 is "good", considering that in all likelihood OP will earn as his career progresses.

    https://en.wikipedia.org/wiki/Income...United_Kingdom
    Depends on how you define 'good'. It's a relative term, which is what J-SP is trying to get across. The given example of someone heading into a career (with all the relevant experience, skills, qualifications etc) with high compensation acceleration vs a 24 year old who hasn't really bothered to do anything at all and hasn't put much thought into their career, is a great example. The latter individual, notwithstanding a lucky break from entrepreneurship, will have a lower trajectory (and expectations) than the former.

    You might peg 'good' as some percentile of the entire 24 year old population but in practice that doesn't work. If you're going to draw conparisons, you may as well compare similar populations - adjusted for education, job, industry and location. Case in point, the job you do and where is A LOT more of an indicator than 'age'.
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    (Original post by inhuman)
    They are banks. Hence they are *****y.

    Oh and I still somewhere have a GS contract lying around
    How come aha? Banks are just financial services firms, I see no intrinsic *****iness.. :')

    GS contract for?

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    (Original post by inhuman)
    Sorry but so what?

    The OP's question was completely general. You can have a bar chart showing wages by age. You can have one by sector. You can have one combing the two.

    I am not saying you are wrong, but in the grand scheme of things, earning almost 20% more than the median income at age 24 is "good", considering that in all likelihood OP will earn as his career progresses.

    https://en.wikipedia.org/wiki/Income...United_Kingdom
    Is jt really the median salary once we consider age (considering that's what you are gunning for), as well as location occupation and gender (considering that's what is highlighted in the article you provided)? Probably not.

    And even if they do progress, going by your argument they will be older and so relatively what will be the difference?






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    (Original post by Princepieman)
    How come aha? Banks are just financial services firms, I see no intrinsic *****iness.. :'

    GS contract for?

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    LOL how do you manage to turn every single thread on TSR into an IB related discussion
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    (Original post by Daniel9998)
    LOL how do you manage to turn every single thread on TSR into an IB related discussion
    Didn't bring it up, the guy I replied to did lmao

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    (Original post by Princepieman)
    How come aha? Banks are just financial services firms, I see no intrinsic *****iness.. :'

    GS contract for?

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    Because most are just there for the money. Many will tell you it's because it's "interesting" or "dynamic" but again that is mostly just bs. Because while banks are essential to the system, they are in no shape or form essential in the way they operate now, nor have the problems of moral hazard been been addressed properly. Nor do nearly as many as should go to prison for crimes, except of course it's better for the US government to fine them (in fact the Treasury sees fines as a source of income I am sure). I could go on. In short, admitting to generalizing, it is not a good industry with good people.

    Oh, nothing special, I just mentioned that to indicate that I am not the typical working class goon who thinks "banker ******" and doesn't really have a clue. And that I do have personal experience (and can say that I did not enjoy the atmosphere).
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    (Original post by inhuman)
    Because most are just there for the money. Many will tell you it's because it's "interesting" or "dynamic" but again that is mostly just bs. Because while banks are essential to the system, they are in no shape or form essential in the way they operate now, nor have the problems of moral hazard been been addressed properly. Nor do nearly as many as should go to prison for crimes, except of course it's better for the US government to fine them (in fact the Treasury sees fines as a source of income I am sure). I could go on. In short, admitting to generalizing, it is not a good industry with good people.

    Oh, nothing special, I just mentioned that to indicate that I am not the typical working class goon who thinks "banker ******" and doesn't really have a clue. And that I do have personal experience (and can say that I did not enjoy the atmosphere).
    You did say it yourself :rolleyes: It's interesting how the actions of a few mischievous bankers have tainted the whole profession in such a bad light. Do you see all Doctors being vilified when one goes on a berserk killing spree, in the name of 'malpractice'? I think not.

    It's just another standard industry sector with its fair share of dimwits, normal folk and wrongdoers.


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    (Original post by J-SP)
    Is jt really the median salary once we consider age (considering that's what you are gunning for), as well as location occupation and gender (considering that's what is highlighted in the article you provided)? Probably not.

    And even if they do progress, going by your argument they will be older and so relatively what will be the difference?






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    I never said you are wrong. I am just pointing out that saying age is irrelevant is naive. And considering OP's very open-ended question it is in fact relevant, and not some sort of benchmarking which is essentially what you are suggesting. He didn't ask is £25k at 24 good for a [profession] or good in [job]. I totally agree that the thread could eventually have evolved there, but not as a starting point. Because the first reply to the thread was yours and started: "Your age doesn't really factor in to whether it is good enough or not." And sorry, but I maintain that that is not really true to begin with, nor what OP was asking.


    http://www.salary.sg/wp-content/uplo...-age-group.gif

    Age is not irrelevant (as that would imply there is no correlation, which there clearly is).
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    (Original post by Princepieman)
    You did say it yourself :rolleyes: It's interesting how the actions of a few mischievous bankers have tainted the whole profession in such a bad light. Do you see all Doctors being vilified when one goes on a berserk killing spree, in the name of 'malpractice'? I think not.

    It's just another standard industry sector with its fair share of dimwits, normal folk and wrongdoers.


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    No, I only said that because up to that point it sounded like I said all of them are like that.

    Do you know what a generalization is? How it comes about? How about a stereotype? You think they are made for fun? Have no basis whatsoever?

    Not to mention these dimwits and wrongdoers can be found right at the top, and the culture goes top down.

    And yes, there actually many doctors that are just in it for the money. Do you have any idea how many surgeries are performed that are unnecessary? How many procedures are told to the insurance have been performed but haven't? I think if we ever found out the truth, it would be shocking. (Note I am of course not speaking for the UK here since the NHS works differently).
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    (Original post by inhuman)
    No, I only said that because up to that point it sounded like I said all of them are like that.

    Do you know what a generalization is? How it comes about? How about a stereotype? You think they are made for fun? Have no basis whatsoever?
    No, sometimes they are made up to justify persecution, discrimination and genocide. Many have a vague basis in truth, but the existence of a stereotype can mean a lot or it can mean absolutely nothing.

    Not to mention these dimwits and wrongdoers can be found right at the top, and the culture goes top down.

    And yes, there actually many doctors that are just in it for the money. Do you have any idea how many surgeries are performed that are unnecessary? How many procedures are told to the insurance have been performed but haven't? I think if we ever found out the truth, it would be shocking. (Note I am of course not speaking for the UK here since the NHS works differently).
    How many are performed unecessarily each year?
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    (Original post by inhuman)
    I never said you are wrong. I am just pointing out that saying age is irrelevant is naive. And considering OP's very open-ended question it is in fact relevant, and not some sort of benchmarking which is essentially what you are suggesting. He didn't ask is £25k at 24 good for a [profession] or good in [job]. I totally agree that the thread could eventually have evolved there, but not as a starting point. Because the first reply to the thread was yours and started: "Your age doesn't really factor in to whether it is good enough or not." And sorry, but I maintain that that is not really true to begin with, nor what OP was asking.


    http://www.salary.sg/wp-content/uplo...-age-group.gif

    Age is not irrelevant (as that would imply there is no correlation, which there clearly is).
    Age is a by-product of experience - that's why there is (in part) a correlation. Age is used as a measure as it is not subjective and can be easily and consistently measured. In comparison experience can not.

    Does age impact the salary you command? Only rarely, and this is when the exception will be with minimum wage bands.

    And interesting that your graph is specific to certain occupations and therefore doesn't answer the OPs generic question either...



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    (Original post by J-SP)
    Age is a by-product of experience - that's why there is (in part) a correlation. Age is used as a measure as it is not subjective and can be easily and consistently measured. In comparison experience can not.

    Does age impact the salary you command? Only rarely, and this is when the exception will be with minimum wage bands.





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    Nothing you have just said is new. I have said everything in my previous posts.
 
 
 
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