Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    0
    ReputationRep:
    Wow! Can't believe it, investment banks apparently INCREASED IB graduate salaries by 5% to 50k: http://www.investoo.co.uk/investment-bank-graduate-salary-increases-to-50000-in-wake-of-scandals/

    Can this really be true, especially in crisis?
    Offline

    13
    ReputationRep:
    Don't let The Guardian get hold of this!

    I hope it's true. IB gets unfairly slammed by people who know nothing about it. Although, an extra 5k (a nice holiday in California perhaps?) should be able to make up for all the sleep I will lose from these people.

    It's a tough life
    Offline

    1
    ReputationRep:
    who cares
    Offline

    14
    ReputationRep:
    I really want to change to investment banking
    Offline

    19
    ReputationRep:
    This is the Telegraph article it is referring to http://www.telegraph.co.uk/finance/n...-scandals.html

    I very much doubt the truth is that IB wannabes are put off by "banker bashing" in the press. The IB wannabes don't care about the reputation of banking, they want the high salaries, and there is nothing else that offers comparable earning prospects unless they become entrepreneurs and really know what they are doing.

    I think this "Jon Terry" guy from Pricewaterhouse Coopers quoted in the article is trolling: “Money is only part of the equation for grads – they don’t want to go to a party and say they work for a bank.” LMAO. As if. I reckon most grads would much rather rock up at a party and say they work for Goldman Sachs than say they work for Pricewaterhouse.

    To put those salaries in context you would need to see the number of graduate opportunities being offered. If all the banks are scaling back their graduate recruitment then its perfectly logical that they would be able to afford to bump up the starting salaries a bit in order to compete with their rivals, if you are only going to take a few, may as well take the best.

    But hey maybe they are right and 'reputational damage' drives salaries upwards. I wonder if all the recent bashing of the public sector in the press means that next year salaries for joining the Civil Service will raise by 5% because they need to compensate for the reputational damage...
    Offline

    2
    ReputationRep:
    I don't really care about what the public thinks because at the end of the day: "It's all about the Benjamins"

    This was posted from The Student Room's Android App on my GT-I9300
    Offline

    14
    ReputationRep:
    That's like £47.5k to £50k, chill out. Starting salaries used to be a lot higher (especially when you take into account the bigger bonuses they used to get) back before the recession.

    This is pay for first year analysts - they're not the ones making mistakes and being part of these 'scandals' - chill out.
    Offline

    2
    ReputationRep:
    Base pay up, bonuses down. Nothing to do with banker bashing, wrong again media.
    Offline

    1
    ReputationRep:
    (Original post by Sagacious)
    IB gets unfairly slammed by people who know nothing about it.
    What is there to know apart from the fact that it is populated by a bunch of greedy, immoral excuses for human beings.

    If you think the opinion of the man on the street is worthless then it just about proves my point.
    Offline

    0
    ReputationRep:
    (Original post by tkane)
    What is there to know apart from the fact that it is populated by a bunch of greedy, immoral excuses for human beings.

    If you think the opinion of the man on the street is worthless then it just about proves my point.
    You're an idiot. Hope this helps.
    Offline

    12
    ReputationRep:
    That moment when people realise investment banking is one of the hardest jobs you can get in terms of work load, hours working and qualifications required.
    Offline

    1
    ReputationRep:
    (Original post by cyfer)
    That moment when people realise investment banking is one of the hardest jobs you can get in terms of work load, hours working and qualifications required.
    I'd rather be unemployed than seek employment in ibanking. As it happens I earn more than a 3rd yr analyst sitting at home chatting on TSR.

    My hate for ibanking is well documented in this forum.
    Offline

    1
    ReputationRep:
    (Original post by gammawharf)
    You're an idiot. Hope this helps.
    Did you get a high after posting that?
    Offline

    14
    ReputationRep:
    (Original post by tkane)
    I'd rather be unemployed than seek employment in ibanking. As it happens I earn more than a 3rd yr analyst sitting at home chatting on TSR.

    My hate for ibanking is well documented in this forum.
    Offline

    1
    ReputationRep:
    (Original post by Nick1sHere)
    Yes, I run a business. Now you're gonna ask me what I do to earn that much money but I won't devulge that information on TSR so you might as well not believe me.

    Not that it matters.
    Offline

    14
    ReputationRep:
    (Original post by tkane)
    Yes, I run a business. Now you're gonna ask me what I do to earn that much money but I won't devulge that information on TSR so you might as well not believe me.

    Not that it matters.
    Haha I was just looking for a reason to use that image :rofl:

    Tbh I'm not going to knock you having your own business. I've got a website and a small eBay business. Not that I make huge amounts but it's not bad considering.

    I hope you continue to do so well with your business :thumbsup:
    Offline

    14
    ReputationRep:
    (Original post by MagicNMedicine)
    This is the Telegraph article it is referring to http://www.telegraph.co.uk/finance/n...-scandals.html

    I very much doubt the truth is that IB wannabes are put off by "banker bashing" in the press. The IB wannabes don't care about the reputation of banking, they want the high salaries, and there is nothing else that offers comparable earning prospects unless they become entrepreneurs and really know what they are doing.

    I think this "Jon Terry" guy from Pricewaterhouse Coopers quoted in the article is trolling: “Money is only part of the equation for grads – they don’t want to go to a party and say they work for a bank.” LMAO. As if. I reckon most grads would much rather rock up at a party and say they work for Goldman Sachs than say they work for Pricewaterhouse.

    To put those salaries in context you would need to see the number of graduate opportunities being offered. If all the banks are scaling back their graduate recruitment then its perfectly logical that they would be able to afford to bump up the starting salaries a bit in order to compete with their rivals, if you are only going to take a few, may as well take the best.

    But hey maybe they are right and 'reputational damage' drives salaries upwards. I wonder if all the recent bashing of the public sector in the press means that next year salaries for joining the Civil Service will raise by 5% because they need to compensate for the reputational damage...
    Unless that was a very boring party I don't think the average Joe will know the difference between two investment banks. Unless you're only mixing with the elite.

    As for the increase, what else can you expect in an economic downturn? The rich get paid even more, and taxed less on it. Davey and Gideon working wonders yet again.
    Offline

    0
    ReputationRep:
    (Original post by tkane)
    Yes, I run a business. Now you're gonna ask me what I do to earn that much money but I won't devulge that information on TSR so you might as well not believe me.

    Not that it matters.
    That much? Third year analyst? Dude, that's the bottom of the pyramid still; and I'm not only talking about ibanking.
    Offline

    5
    ReputationRep:
    Yooo, can anyone explain to me what is so bad about Investment banking? I know almost nothing about it, and I see people say that it is one of the worst jobs etc. and that only pay is good, but its not worth it and that.
    Offline

    1
    ReputationRep:
    (Original post by SonnyZH)
    That much? Third year analyst? Dude, that's the bottom of the pyramid still; and I'm not only talking about ibanking.
    May I remind you that not even 1% of the world's population will ever earn more than £100k a year.

    I earn that much with a laptop and a broadband connection. I can take a break whenever I want to, can take a day off at zero notice, don't have to be stuck on tubes and trains to get to work. I'm incredibly happy about my situation thanks.

    Oh, and, I can fiddle my taxes!!
 
 
 
Poll
Do you agree with the PM's proposal to cut tuition fees for some courses?
Useful resources

Articles:

Guide to investment bankingGuide to consultancy

Featured recruiter profiles:

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

Quick link:

Unanswered investment banking and consultancy threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.