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    Is this thread coming up on the side 'Discussions' panel? Its pretty obvious that is. Anyone in this industry (and MC law) will know that £70k first year is nothing out of the ordinary, especially when bases for this year are £46k-£52k.

    Those that doubt it, be quiet. You are wrong.
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    this sounds pretty decent..
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    He sounds like one of the very man deluded little sixth form kids that think that has long as they get into a good uni the path is set out for them to start rolling around in money as a banker. Little did these fools now that you actually need hard work and talent to succeed in said industries
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    OP is GREEN with envy
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    (Original post by narusku)
    Many solicitors' firms welcome their newly qualified employees with a salary of £70,000+
    Yeah, buts thats after working at the firm for two years as part of your training contract where you are not likely to earn more than £40,000
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    You can easily make that sort of money. top ranked 1st year analyst at a BB got 37k bonus + 45k base = 82K total comp
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    Lol thread. 70k isn't even much... pretty damn average for a 1st year IB'er to be taking in.
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    (Original post by 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:
    I think you still have to study and do some work experience before then. But you're right thats crazily high!
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    (Original post by Lord_Farquad)
    Wasn't intended to sound hostile. $60K is not the base. $70K is the base like I said earlier, it was not an estimate. Every major bank on Wall Street pays the exact same starting package. My bonus 'estimate' was not an estimate either. $50-65K WAS paid out to first years in 2010. You can read about it here:

    http://www.mergersandinquisitions.co...alyst-bonuses/
    I'm copying directly from your source.

    "Base:
    1st Year Top Tier: $50-$65K
    2nd Year Top Tier: $65-$80K

    Further complicating things were differences in base salaries – specifically, not all banks raised 1st year base salaries from $60K to $70K, so total pay might have been different even if bonuses were the same.

    If you were not in the top tier, you earned $5-$10K less per tier.

    "
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    We're talking a very small percentage of people who start on a salary like this. They probably have a rich mummy and daddy or contacts that are already in top positions.

    If you're working from scratch like most people, chances are you won't be earning this much anytime soon.
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    you seem to really hate this guy lmao
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    (Original post by A_master)
    We're talking a very small percentage of people who start on a salary like this. They probably have a rich mummy and daddy or contacts that are already in top positions.

    If you're working from scratch like most people, chances are you won't be earning this much anytime soon.
    Yes. This is true.
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    (Original post by adam0311)
    I'm copying directly from your source.

    "Base:
    1st Year Top Tier: $50-$65K
    2nd Year Top Tier: $65-$80K

    Further complicating things were differences in base salaries – specifically, not all banks raised 1st year base salaries from $60K to $70K, so total pay might have been different even if bonuses were the same.

    If you were not in the top tier, you earned $5-$10K less per tier.

    "

    Yes, not all banks raised salaries last year. We are talking about a kid who will be starting in 3 years. ALL base salaries are now at $70K at every major wall street player.

    I'm not sure why you pointed at the tiering difference. Most analysts are mid bucket and will have pulled in between 50-55K.

    You clearly have no idea.
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    (Original post by Lord_Farquad)
    Yes, not all banks raised salaries last year. We are talking about a kid who will be starting in 3 years. ALL base salaries are now at $70K at every major wall street player.

    I'm not sure why you pointed at the tiering difference. Most analysts are mid bucket and will have pulled in between 50-55K.

    You clearly have no idea.
    Okay, so we're predicting US salaries for 2013?

    Changing your story now after being proven wrong?

    Pointed out tiering difference because I just copied and pasted from your source.

    *looks forward to a response full of personal attacks*
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    (Original post by JakeF)
    Yes. This is true.
    Oh ****. Hang on. No it isnt.
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    70k is not a huge salary in banking, for someone starting out it is very excellent. i dont know who will be willing to pay him 70k for the year, in his first year, assuming that he has very little or no experience. and his degree choice, history, is good, but i would imagine that there will he will be competing with others who have degrees in economics or maths etc, from similarly ranked institutions.

    but 70k income for the year is perfectly possible, his salary may be way less, but bonuses is where it counts, and there are huge bonuses to be made in the industry.
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    (Original post by A_master)
    We're talking a very small percentage of people who start on a salary like this. They probably have a rich mummy and daddy or contacts that are already in top positions.

    If you're working from scratch like most people, chances are you won't be earning this much anytime soon.
    Actually most kids in IB FO are working from scratch as you say. Some may have contacts but in general kids get in through:

    application -> interview -> Assessment Center -> internship -> grad role

    In IB FO most first years will come close to 70k GBP all in first year
    Base: 45k
    Sign on: 6k (depends on bank tho)
    Bonus: 0-30k (there have been cases of more)

    So you can see that it is very possible depending on your performance/how your group did etc.
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    (Original post by Phobia27)
    "Please rate some other members before rating this member again."

    :nooo:
    Did you know that I'm "other members"? God finally got to use that joke in this forum.

    On topic: Awesome sauce Op, be this guys friend then steal his woman but only after he's had kids that way you've broken his whole world.

    No wait that's terrible advice wtf is wrong with me today?
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    (Original post by President_Ben)
    Money at the start doesn't matter.

    But what the hell, I graduated from UCL. In my first year, my bonus was over 100k. Base was just there to help me pay some bills over the year.

    This is an industry of winners. Get over it.
    *This is an industry of [taxpayer-subsidised] winners.
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    (Original post by adam0311)
    I'm copying directly from your source.

    "Base:
    1st Year Top Tier: $50-$65K
    2nd Year Top Tier: $65-$80K

    Further complicating things were differences in base salaries – specifically, not all banks raised 1st year base salaries from $60K to $70K, so total pay might have been different even if bonuses were the same.

    If you were not in the top tier, you earned $5-$10K less per tier.

    "
    Is it just me or are you just god awful at copying, the tiers refer to bonus not base.
 
 
 
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