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    (Original post by Trapz99)
    That's like saying that a billion dollars is not a good salary because you need to pay for your private jet, tank, your mortgage for the whole of Central London and your yacht made of solid gold and diamonds. Things like school fees aren't necessary and are a huge waste of money when there are so many amazing state schools out there.
    Not really I'd consider supporting your kids, having a mortgage and a car as pretty normal things. Remember to actually purchase a family-sized house in the South East near London costs upwards of £800,000. That demands a very high salary for new-starters.

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    (Original post by Commercial Paper)
    Not really I'd consider supporting your kids, having a mortgage and a car as pretty normal things. Remember to actually purchase a family-sized house in the South East near London costs upwards of £800,000. That demands a very high salary for new-starters.

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    Only around 5% or less of Londoners earn that and most Londoners live relatively comfortable family lives. Anyway, I believe I may have taken this discussion out of hand.
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    (Original post by Princepieman)
    Really? I thought £200k (all-in) is the going rate for a 2nd-3rd year Associate.

    But fair enough.

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    It roughly is at top banks, but remember that takes at least five or six years to reach, many will graduate late and it is also highly dependent on your bonus - and unless you're at a top bank, it will be less than this. So across the industry, taking into account those factors, it is a minority. Very common in your thirties though.

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    (Original post by Princepieman)
    Lol, that's true. It must be bizarre to sit next to people making 3-5x what you're making :/

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    One old boss used to point at my Michael Kors watch and say "I've got one of them!"....

    He had like a solid gold Rolex. Funny!!!!

    People throw their Rolexes across the desk to each other to compare, they fly through the air and I hold my breath!
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    (Original post by Prajna)
    ***** I have an internship at Rothschild. Just saying that IB is ****. It's still better than all other alternatives though.
    I don't think you know what your talking about.
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    (Original post by Commercial Paper)
    It roughly is at top banks, but remember that takes at least five or six years to reach, many will graduate late and it is also highly dependent on your bonus - and unless you're at a top bank, it will be less than this. So across the industry, taking into account those factors, it is a minority.

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    Fair enough, you raise a very good point dude. I guess it varies by division as well, with IBD (i.e. more hours) being closer to that range or more, while the rest of FO trails slightly (obviously taking into account the wild variation across S&T).

    Either way, I'd expect most FO bankers to be approaching that income level very early into their careers - the need for private schools, large homes etc, will most likely come later on (as you said, some graduate later and thus will be inclined to start families at a later date) at a point where the banker's income will be sufficiently high enough to absorb the costs.

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    (Original post by Princepieman)
    Fair enough, you raise a very good point dude. I guess it varies by division as well, with IBD (i.e. more hours) being closer to that range or more, while the rest of FO trails slightly (obviously taking into account the wild variation across S&T).

    Either way, I'd expect most FO bankers to be approaching that income level very early into their careers - the need for private schools, large homes etc, will most likely come later on (as you said, some graduate later and thus will be inclined to start families at a later date) at a point where the banker's income will be sufficiently high enough to absorb the costs.

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    Yeah - the point I'm just trying to get across here is a lot of bankers are Europeans so are actually still Analysts in their mid-late twenties (don't graduate until they are 23/24). And it's not as clear-cut as being an Associate and getting £200k - it's dependent on so many factors.

    I just feel like everyone looks at salary figures on here and thinks if I do a, b and c, I'll get that but it doesn't work like that in reality at all. So many factors and luck involved too. As you become more senior, salary ranges at different institutions and teams are very significant.

    But you are fundamentally correct, yes. I'm just being pedantic haha.

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    (Original post by Commercial Paper)
    Yeah - the point I'm just trying to get across here is a lot of bankers are Europeans so are actually still Analysts in their mid-late twenties (don't graduate until they are 23/24). And it's not as clear-cut as being an Associate and getting £200k - it's dependent on so many factors.

    I just feel like everyone looks at salary figures on here and thinks if I do a, b and c, I'll get that but it doesn't work like that in reality at all. So many factors and luck involved too. As you become more senior, salary ranges at different institutions and teams are very significant.

    But you are fundamentally correct, yes. I'm just being pedantic haha.

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    Yeah, I completely agree. Most of it is based on not only luck but also ability to handle the job and achieve in the first place. There's always the element of being laid off for not performing or even reaching a 'glass ceiling' where your ability to move into the upper echelons of the career path diminishes greatly.

    I feel like I fall into that trap too. Rationalising a career path based on assumptions that may or may not actually happen, resolving things down to an almost 'life equation' Guess I'll just have to wait and see what life has in store for me.

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    (Original post by Commercial Paper)
    Sort of agree. Imagine if you have a big mortgage, a nice car, some treats, school fees and some kids. That's the majority of it gone.

    It's a lot of money if you live alone in a flat, for sure though.

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    Yes I agree with this. If you're living in the centre of London for me to consider some rich the person will have to be earning around £800,000+
    I might sound really dumb or I'm trolling but honestly I think anything under that means you're pretty well off.


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    (Original post by leavingthecity)
    I don't think you know what your talking about.
    You should not have mentioned me little dove. I am now obliged to educate you.

    Shall I walk you through a comprehensive business plan showing that you can probably make 50-150k from a car parts stripping business right now?
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    (Original post by Jeena_hunt5476)
    Yes I agree with this. If you're living in the centre of London for me to consider some rich the person will have to be earning around £800,000+
    I might sound really dumb or I'm trolling but honestly I think anything under that means you're pretty well off.


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    Exactly. I'm sorry 100k after tax is not enough to raise children in a good neighborhood in London in a spacious home and to afford private school tuition fees, plus to go on holidays regularly and maintain a high standard of living.
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    (Original post by Prajna)
    ***** I have an internship at Rothschild. Just saying that IB is ****. It's still better than all other alternatives though.
    and I'm the president of the united states
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    (Original post by gr8wizard10)
    and I'm the president of the united states
    Believe what you want. But I got an internship without knowing what the **** investment banking truly entails. I study Maths at Imperial, and trade algorithmically refining code on quantopian, using arbitrage opportunities available on ECNs.

    But keep thinking your non-STEM subject and your IB obsession will make you more than 100-200k after tax if your bosses don't decide to lay off some IBs to raise stock price.
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    (Original post by Prajna)
    Believe what you want. But I got an internship without knowing what the **** investment banking truly entails. I study Maths at Imperial, and trade algorithmically refining code on quantopian, using arbitrage opportunities available on ECNs.

    But keep thinking your non-STEM subject and your IB obsession will make you more than 100-200k after tax if your bosses don't decide to lay off some IBs to raise stock price.
    Yes, I'm sure you got accepted on to an internship for one of if not the most competitive jobs in the country without knowing what it is when the majority of applicants who actually want to do the job and know almost everything there is to know about it don't get accepted.
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    (Original post by Prajna)
    Believe what you want. But I got an internship without knowing what the **** investment banking truly entails. I study Maths at Imperial, and trade algorithmically refining code on quantopian, using arbitrage opportunities available on ECNs.

    But keep thinking your non-STEM subject and your IB obsession will make you more than 100-200k after tax if your bosses don't decide to lay off some IBs to raise stock price.
    did i mention i also have a secret space shuttle to take me to jupiter
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    Lol, as if a salary of £200k per annum isn't a massive amount of money. Even for those who work in the City the average salary is about £50k, maybe even less.

    If you feel you'd struggle on £200k then I do genuinely worry for you.
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    (Original post by Princepieman)


    These figures are about 2 years old (base for graduates a.k.a Analyst 1 is now £50k) but it gives you a ballpark. All-in figures would be base + bonus (i.e. base*(1 + percentage)).

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    Surely the lower bound for the bonus is 0%, otherwise it's a guarantee?
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    (Original post by curiousquest)
    Surely the lower bound for the bonus is 0%?
    Nah, 0% bonuses are very very rare. It'd only happen if either the bonus pool completely dried up (i.e. due to regulatory sanctions being paid off), or you as a senior banker don't make any revenue for the firm or the economy is heading into a massive downturn.

    Usually banks rank the junior professionals every year to see what bonus tier they will be placed into, the lowest tier still generally get paid an ok bonus (it's relative though, compared to what others are getting it'll be poor) at year end. But, they are usually the ones that are 'forced' to look elsewhere for a job due to poor performance.

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    (Original post by Princepieman)
    Nah, 0% bonuses are very very rare. It'd only happen if either the bonus pool completely dried up (i.e. due to regulatory sanctions being paid off), or you as a senior banker don't make any revenue for the firm or the economy is heading into a massive downturn.

    Usually banks rank the junior professionals every year to see what bonus tier they will be placed into, the lowest tier still generally get paid an ok bonus (it's relative though, compared to what others are getting it'll be poor) at year end. But, they are usually the ones that are 'forced' to look elsewhere for a job due to poor performance.

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    Perhaps I've misunderstood this thread.

    Is it about banking jobs or simply working in a bank?

    For example in IT, within an IB, you only get a bonus if:

    You perform well AND front office performs well.

    If front office do miserably, then no matter how well you do, you won't get a dime, regardless of grade.
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    (Original post by curiousquest)
    Perhaps I've misunderstood this thread.

    Is it about banking jobs or simply working in a bank?

    For example in IT, within an IB, you only get a bonus if:

    You perform well AND front office performs well.

    If front office do miserably, then no matter how well you do, you won't get a dime, regardless of grade.
    The figures were for IBD (so FO).

    You'd be right with that, yeah.

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