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    (Original post by liarpoker)
    Corporate law. I will most likely have a confirmed offer come September. I would still apply for the job (probably) if the starting salaries were starting from 35k, but since that's not the case, my expectations will be in line with the market trends. First year bankers can make £75-80k in their first year out of university. As you two have previously mentioned, these jobs don't make up the majority of the graduate market.

    At the City law firms, it ranges from around 35k to 50k straight out of university. After 2 years, you're looking at £60k -100k (depends on your firm). The figures can be misleading though, since you essentially have one non-money making year post uni, or two if you're converting from another degree. The hours can be brutal too, so it's not as lucrative as it may first seem,.
    Would love to see that first year P60.
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    (Original post by Oschene23)
    I can assure you it's not boring. And suicide rates are over inflated massively by the media. And yes I'd consider 50k base salary and a possible 20%-80% bonus on top pretty amazing.
    If money is your only goal than I suppose so but eh. There's nothing particularly glamorous about it as a career outside of financial reward. Banks are shady as it is and they're always trying to find ways to cut the number of employees they have so I wouldn't call IB a safe bet at all. Suicide rates were hardly bigged up. Look back at the Great Recession of 2008 and the Depression in the 30's. The salary you get for what you doing is great but you have no free time whatsoever so its almost entirely pointless outside of having security. 100+ hours a week is not remotely appealing at all.
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    (Original post by Oschene23)
    I can assure you it's not boring. And suicide rates are over inflated massively by the media. And yes I'd consider 50k base salary and a possible 20%-80% bonus on top pretty amazing.
    But the hours early-years analysts work on the magic roundabout mean you at times only earn just above the minimum wage haha.

    I want to have my weekends to myself.
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    (Original post by Reue)
    Would love to see that first year P60.
    I don't know what you're finding hard to believe.

    If you go to a top university, people going into 30k+ graduate jobs will be ten a penny.

    40-45k is city law/finance is not being deluded or wildly optimistic.
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    (Original post by marco14196)
    If money is your only goal than I suppose so but eh. There's nothing particularly glamorous about it as a career outside of financial reward. Banks are shady as it is and they're always trying to find ways to cut the number of employees they have so I wouldn't call IB a safe bet at all. Suicide rates were hardly bigged up. Look back at the Great Recession of 2008 and the Depression in the 30's. The salary you get for what you doing is great but you have no free time whatsoever so its almost entirely pointless outside of having security. 100+ hours a week is not remotely appealing at all.
    if youre not understanding that some of us want to beast it working crazy hours to earn the most, then why arent you realizing that those salaries are perfectly feasible and occurs regularly, straight after uni?
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    (Original post by liarpoker)
    I don't know what you're finding hard to believe.

    If you go to a top university, people going into 30k+ graduate jobs will be ten a penny.

    40-45k is city law/finance is not being deluded or wildly optimistic.
    And yet if it were so common you would think we'd have a lot of graduates on here earning that amount?

    But we don't, and indeed not a single person has ever came back here with proof that they actually went on to earn the first year earnings that they claimed they would.

    So my challenge to you remains: please come back with proof that you earnt what you claim you will.

    Until then, I shall remain sceptical of people like you who try to claim with certainty that you will be earning a high salary right out of university.
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    (Original post by welcometoib)
    if youre not understanding that some of us want to beast it working crazy hours to earn the most, then why arent you realizing that those salaries are perfectly feasible and occurs regularly, straight after uni?
    Well fair enough if that's what you want. Unless you advance out of the starting positions fast, working 100 hours a week will eventually grind at you. You're only saying what you're saying because you haven't experienced 100 hours a week yet. One way or another, you'll become fatigued or your health will take a hit in one form or another. Do you intend on staying in IB forever(provided you get the job) or are you looking to stick around shorter term(a decade/decade and a half) before pursuing other ventures or are you literally just chasing the dollar exclusively. I have to disagree on your salary expectations being feasible because those types of salaries are reserved for a small number of people and even then, only at the larger IB firms. Don't forget that smaller firms will often pay you less but expect the same time commitment. Good luck to ya anyway
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    (Original post by marco14196)
    Well fair enough if that's what you want. Unless you advance out of the starting positions fast, working 100 hours a week will eventually grind at you. You're only saying what you're saying because you haven't experienced 100 hours a week yet. One way or another, you'll become fatigued or your health will take a hit in one form or another. Do you intend on staying in IB forever(provided you get the job) or are you looking to stick around shorter term(a decade/decade and a half) before pursuing other ventures or are you literally just chasing the dollar exclusively. I have to disagree on your salary expectations being feasible because those types of salaries are reserved for a small number of people and even then, only at the larger IB firms. Don't forget that smaller firms will often pay you less but expect the same time commitment. Good luck to ya anyway
    the smaller firms in ib? they pay more buddy. all big ibs pay the same minimum 50k.
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    (Original post by Reue)
    And yet if it were so common you would think we'd have a lot of graduates on here earning that amount?

    But we don't, and indeed not a single person has ever came back here with proof that they actually went on to earn the first year earnings that they claimed they would.

    So my challenge to you remains: please come back with proof that you earnt what you claim you will.

    Until then, I shall remain sceptical of people like you who try to claim with certainty that you will be earning a high salary right out of university.
    I'd wager only a few hundred make the mystical £40-£50K from the start and the rest are on £30-£35K to start. Even then, as a rough number, the number of people getting into IB successfully is small anyway. It's a lucrative field for the few and the IB firms know that. The universities more so know that and are happy to sell the lie that all who study IB shall become IB's upon graduation. Never trust a university because they have a vested interest in getting you on their course because students are little gold mines for universities.
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    (Original post by Reue)
    And yet if it were so common you would think we'd have a lot of graduates on here earning that amount?

    But we don't, and indeed not a single person has ever came back here with proof that they actually went on to earn the first year earnings that they claimed they would.

    So my challenge to you remains: please come back with proof that you earnt what you claim you will.

    Until then, I shall remain sceptical of people like you who try to claim with certainty that you will be earning a high salary right out of university.
    That's the whole point. These jobs are 'elite' and attract the best graduates from the leading universities. Your average joe from xyz poly is not the target audience. The below list show a selection of the firms which I'm talking about. I have interned at 3 of the listed firms over the course of this summer. I go to one of the best universities in the country and most of my social circle will be starting on 30k+. At other universities, it will be different, the same focus/emphasis on getting these jobs does not exist.

    http://www.rollonfriday.com/InsideIn...8/Default.aspx

    I'm sure that you can now accept that if you're aiming for a career in corporate law, 40k and upwards is not unrealistic.
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    (Original post by welcometoib)
    the smaller firms in ib? they pay more buddy. all big ibs pay the same minimum 50k.
    That doesn't make sense at all for a smaller business to fork over more for an unexperienced graduate. It actually makes me laugh more than anything that they can trust so much in ill experienced sprogs and reward them so much. You'd think they would make them work to get the carrot but clearly not. I guess there's so much money in banking that they let all common sense exit their brains. They could probably create more ethically minded bankers if they made them work for their money properly but that would be asking too much from the greediest industry in the economy. ALSO, funny that I've been reading they actually pay in the range of £30-£40K, not your mythical £50K all around rate. £50K is way too much to give other to some inexperienced stool over an experienced manager.
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    (Original post by marco14196)
    Its really not given how few get into it and how many people get left on the scrap heap. Add the extreme hours, boring work and high suicide rates in the financial world as well as worsening job security in the financial sector
    I dont know why you think that high wage means extreme hours, boring work and high suicide rates..
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    (Original post by liarpoker)
    I don't know what you're finding hard to believe.

    If you go to a top university, people going into 30k+ graduate jobs will be ten a penny.

    40-45k is city law/finance is not being deluded or wildly optimistic.
    liarpoker, today I went to get a takeaway from the local Indian takeaway. There was a guy in there. He studied LLB law at Oxford uni. he is now going to do an additional 2 years of "bar" as there "aren't any jobs"
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    (Original post by liarpoker)
    That's the whole point. These jobs are 'elite' and attract the best graduates from the leading universities. Your average joe from xyz poly is not the target audience. The below list show a selection of the firms which I'm talking about. I have interned at 3 of the listed firms over the course of this summer. I go to one of the best universities in the country and most of my social circle will be starting on 30k+. At other universities, it will be different, the same focus/emphasis on getting these jobs does not exist.

    http://www.rollonfriday.com/InsideIn...8/Default.aspx

    I'm sure that you can now accept that if you're aiming for a career in corporate law, 40k and upwards is not unrealistic.
    I think you have to be a very special type of character to get into IB and I don't mean that in a good way. If you have an almost machine like drive to make money, even if its via exploitation or what not, you'll fit perfectly into the world of IB. Salary being nice and all, its something I wouldn't want to touch with a barge pole with all the legal nonsense being brought into the world of banking, the large scale job losses all banks are enforcing, the extremely long hours etc.
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    (Original post by The_Internet)
    I dont know why you think that high wage means extreme hours, boring work and high suicide rates..
    Well in the world of banking yes. I didn't mean for high paying jobs in general.
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    (Original post by The_Internet)
    liarpoker, today I went to get a takeaway from the local Indian takeaway. There was a guy in there. He studied LLB law at Oxford uni. he is now going to do an additional 2 years of "bar" as there "aren't any jobs"
    It's a real shame because in years past, that would have been enough to qualify him to become a barrister straight away and the job would be his. These days, I view law as the new forensic science. People smelt the money, liked the crime shows so what happened. More people went to university to study it, the demand for jobs fell as legal fees reduced and the demand for new lawyers has tanked, ergo over supply and freefalling demand.
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    Just did some math to put some perspective into this. Starting off in IB is really from a stats point not that great(to start) in terms of the time commitment to earnings potential. Average working hours are 15 hours a day(105 hours a week, 5040 hours a year though this varies). Assuming you start off at £40K, you're earning about £7.93 per hour which is a little bit better than the minimum wage. Sure the actual figure of £40-£50K looks nice but you're totally neglecting the time commitment it entails. Of course that may not matter when you hit management level(IF you ever hit that) where the money really rolls in
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    (Original post by Iqbal007)
    That is only partially true.......when you look at the older employees in many firms you find that there are a significant amount of people with no degree. After a few years and provided you have relevant years of experience, the experience is far more valuable.
    Other times, my friend. Back in the days, far less people went to uni.
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    (Original post by marco14196)
    If money is your only goal than I suppose so but eh. There's nothing particularly glamorous about it as a career outside of financial reward. Banks are shady as it is and they're always trying to find ways to cut the number of employees they have so I wouldn't call IB a safe bet at all. Suicide rates were hardly bigged up. Look back at the Great Recession of 2008 and the Depression in the 30's. The salary you get for what you doing is great but you have no free time whatsoever so its almost entirely pointless outside of having security. 100+ hours a week is not remotely appealing at all.
    Please stop with the 100 hours a week spiel, no one works that much consistently. The average is more like 80, spread over 6 days - much more realistic than this concept of 100 hour weeks. Plus, those who work on the markets side generally have much laxer hours in the range of 60 ish, for the same base salary + bonus.

    It's not all doom, gloom and boom as you are led to believe. I'm not even going to delve into the ridiculousness of your 'banks are shady' statement.

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    (Original post by marco14196)
    That doesn't make sense at all for a smaller business to fork over more for an unexperienced graduate. It actually makes me laugh more than anything that they can trust so much in ill experienced sprogs and reward them so much. You'd think they would make them work to get the carrot but clearly not. I guess there's so much money in banking that they let all common sense exit their brains. They could probably create more ethically minded bankers if they made them work for their money properly but that would be asking too much from the greediest industry in the economy. ALSO, funny that I've been reading they actually pay in the range of £30-£40K, not your mythical £50K all around rate. £50K is way too much to give other to some inexperienced stool over an experienced manager.
    Simple: lower overheads = more room for compensation. Boutiques are mainly advisory houses - without all the infrastructure required to run a trading floor, the greatest expense will be human capital.

    £50k is the average now, tack on a £10-20k year end bonus + £5-10k signing bonus and you're good to go.

    Posted from TSR Mobile
 
 
 
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