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    In IB how faesible is it to reach 6 figures before age 30? What are the average salaries for different ages of banker? Btw I'm not asking for extreme cases, such as 'top bankers at Goldman Sachs CAN earn x million in their first month blah blah blah', I just mean what salaries the average banker can expect.
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    Depends on a number of factors; whether one goes in to Front Office/Middle Office/Back Office, how competitive the role is, bonuses etc etc. But if you're looking at a Front Office position at a leading top tier investment bank, graduate base salaries are usually in the region of £32-36k, perhaps slightly more for some roles.

    How much you can potentially earn is all down to personal performance. Don't expect to walk in to a job with a BB I.B and get a decent salary. If you do reasonably well, I'm sure it's possible to hit £100k/year in 5-10 years. But again, it all depends on performance.
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    (Original post by MaxMaxMax)
    In IB how faesible is it to reach 6 figures before age 30? What are the average salaries for different ages of banker?
    What? Most people make 6 figures in their 2nd year working!

    Year1 analyst: £38k base, £20-50k bonus (depending on when you started, how much you've actually done for your desk/team)
    Year2 analyst: £42k base, £50-80k bonus
    Year3 analyst (IBD people) a bit better than Year2.
    Associate: £60k base, £100k+ bonus, stay associate 2-5 years
    VP/Exec Director: £80k base, £200-600k bonus, stay VP 3-5 years
    Director: £95-100k base, £300-1m bonus, stay VP min 3 years, max life
    MD: £120k base, £600k-£10m bonus

    Obviously these numbers hugely vary by calibre of bank / desk / market conditions but they're fairly typical for front office, decent bank.

    So if you start age 22 like most people you'll be on £100k by 24 (including bonus), but you'll just miss £100k basic-salary wise. If you're more interested in basic salary than bonus then choose partner at a Big 4 or law firm over banking.
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    haha, that's corp fin and definitely not in these markets - bonuses are already looking to be slashed.
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    (Original post by rboogie)
    haha, that's corp fin and definitely not in these markets - bonuses are already looking to be slashed.
    Meh, 10-20% hit, no biggie..
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    first time we've had a drop in 4 years.
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    I'd also add the worst is still to come- you have continual marginal underperformance of PE funds and a impending credit crunch. I think bonuses will be down 30% at least.
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    (Original post by rboogie)
    haha, that's corp fin and definitely not in these markets - bonuses are already looking to be slashed.
    Indeed, analysts are happy they got their bonus one month ago whereas the seniors are not as they expecting in Dec/Jan...
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    http://www.ft.com/cms/s/0/822bf222-5...0779fd2ac.html

    First, it was flat, then 5, now 15
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    It is very feasable to reach 100k before 30. Even those at the lower end of spectrum would be expected to attain this well before 30 (atleast by 30 surely).
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    (Original post by rboogie)
    haha, that's corp fin and definitely not in these markets - bonuses are already looking to be slashed.
    Trawling through some of your posts on bonuses/figures/salaries you seem to be getting a really bad deal wherever you are. £80k in yr1 is average for anyone who starts straight at their desk, not just star analysts. Even in these market conditions, every 2nd yr grad in front office without fail should be making £100k all-in.
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    No its not, you're really uninformed... £80k is a VERY good salary for a first year and nowhere near average! Furthermore, nowhere near every 2nd year grad will earn £100k...not by a long shot.
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    (Original post by ssk2)
    No its not, you're really uninformed... £80k is a VERY good salary for a first year and nowhere near average! Furthermore, nowhere near every 2nd year grad will earn £100k...not by a long shot.
    Wtf? I've been a 1st yr analyst, 2nd yr analyst and now 1st yr associate, I know what I'm talking about. Yr1, £36-38k salary is the norm, end of year bonus for everyone in summer was within £35-45k band, and it's remained so the last 2 years, add in sign-on etc and £80k is completely average. You only get under ~£40k if you spent some time training/rotating. Yr2 your base goes up to £42-45k and your bonus, vanilla sales or a crap M&A analyst £60k, derivs structuring you can hit £100k. Become Associate and your base hits £60k.
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    (Original post by rboogie)
    haha, that's corp fin and definitely not in these markets - bonuses are already looking to be slashed.
    Did you not see the London Paper today?! shameful :p:
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    lol.
    http://www.thelondonpaper.com/cs/Satellite/london/news
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    (Original post by mayavara)
    Wtf? I've been a 1st yr analyst, 2nd yr analyst and now 1st yr associate, I know what I'm talking about. Yr1, £36-38k salary is the norm, end of year bonus for everyone in summer was within £35-45k band, and it's remained so the last 2 years, add in sign-on etc and £80k is completely average. You only get under ~£40k if you spent some time training/rotating. Yr2 your base goes up to £42-45k and your bonus, vanilla sales or a crap M&A analyst £60k, derivs structuring you can hit £100k. Become Associate and your base hits £60k.

    If you expect this market to continue, you're insane. I think M&A bonuses will be down 30% and you'll still have the same hours. And derivs structuring - quants are getting nailed right left and centre. Even Renessaince is getting owned. We're going to have a two year bear market, so citing these numbers are next to useless.
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    I'm interested in total salary, ie base salary + bonuses + etc etc etc. I had no idea bonuses were so significant. On jobs websites I've seen Director jobs in the City advertised at about £70k, which I thought was kinda low for such a high position in a City company, but if bonuses are so high then I guess it figures.
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    (Original post by mayavara)
    Wtf? I've been a 1st yr analyst, 2nd yr analyst and now 1st yr associate, I know what I'm talking about. Yr1, £36-38k salary is the norm, end of year bonus for everyone in summer was within £35-45k band, and it's remained so the last 2 years, add in sign-on etc and £80k is completely average. You only get under ~£40k if you spent some time training/rotating. Yr2 your base goes up to £42-45k and your bonus, vanilla sales or a crap M&A analyst £60k, derivs structuring you can hit £100k. Become Associate and your base hits £60k.

    These are similar numbers to what I've been hearing. Out of interest, the band you're quoting for 2nd year analysts is already getting very wide... I thought half the purpose of the analyst bonus pool and the band was to ensure that being on the 'wrong' desk didn't have that much of an effect until later. I didn't realise it made that much of a difference so soon.
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    (Original post by kahler_potential)
    These are similar numbers to what I've been hearing. Out of interest, the band you're quoting for 2nd year analysts is already getting very wide... I thought half the purpose of the analyst bonus pool and the band was to ensure that being on the 'wrong' desk didn't have that much of an effect until later. I didn't realise it made that much of a difference so soon.
    In your 1st year things can be fairly similar, but in your 2nd yr as an analyst HR at most banks don't have that much say, so a derivatives structurer or trader whose actually made millions can be entitled to 6th figures whilst your vanilla sales chimpanzee ain't.

    I love how pretty much every expert, regarded financial analyst, headhunter etc has said 5-10% decline in bonus, so nothing significant, yet rboogie's being adamant with his 30% figure.
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    (Original post by MaxMaxMax)
    I'm interested in total salary, ie base salary + bonuses + etc etc etc. I had no idea bonuses were so significant. On jobs websites I've seen Director jobs in the City advertised at about £70k, which I thought was kinda low for such a high position in a City company, but if bonuses are so high then I guess it figures.
    Bob Diamond got a £200K salary and £22 million in bonuses last year. It's all about the bonus.
 
 
 
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