Front-office salary - What should I expect? Newbie? (2 Viewers)
- Thread starter §eraphim
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velox
Retired
As Newbie said, probably $85-95k plus 50-100% bonus. Although I have a slight feeling the bonus component will be curtailed for FI (for this year anyway)
In terms of the range of packages, who is near the bottom? Do US banks pay more than European ones?
Are Corporate Finance packages really that comparable with those for trading? I would have thought most IBers would be nervous given rates are on the rise so fewer debt-financed acquisitions.
Are Corporate Finance packages really that comparable with those for trading? I would have thought most IBers would be nervous given rates are on the rise so fewer debt-financed acquisitions.
velox
Retired
Probably less hiring in ECM/DCM, base will stay the same - probably bonus will be cut. Euro banks are around 60 000 pounds all up for grads (inc bonus). 40 base + 20bonus roughly.§eraphim said:
I think Australia is near the bottom for salaries. But in the UK cost of living is much higher, so it'd be about even.
Newbie
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with the exchange rates and all, aussie grads are killing it, not to mention the half year stub which is quite sexy. the worst off is the people heading to ny since its 60+10 with no housing. if we ever get 1:1 parity, they would be basing less than ops people here. the upside is you aint baller til you survive the ny office
all the firms are still spamming the recruitment letters but i suspect its for show. headcount is definately lower. its a depressing world out there. FUCK YOU SUBPRIME
all the firms are still spamming the recruitment letters but i suspect its for show. headcount is definately lower. its a depressing world out there. FUCK YOU SUBPRIME
jonathan__
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This sounds very much like a thread from wallstreetoasis, which is a good thing! Is the position mentioned above under Sales & Trading (I'm guessing it is) or Asset Management? Also, would any of you have the expected starting base/bonus figures for Asset Management and/or PWM at a bulge bracket IB? It'd be great to weigh up salary against lifestyle choice for those 2 and in IBD. Cheers
Omnidragon
Devil
Holy man!! FI is like the place not to be right now! And of all firms, you had to ask about Citi!!!!!!!
Edit: I reckon the Australian media has been covering up heaps of things. It is getting very very very serious in London and NYC.
Edit: I reckon the Australian media has been covering up heaps of things. It is getting very very very serious in London and NYC.
velox
Retired
? Optiver and IMC are offering $100k + Bonus. And IBs pay better than marketmakers.Rorix said:
Optiver - 100K + bonus for a wholesale trader - http://ozbankers.com/forum/viewtopic.php?f=3&t=15
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Omnidragon
Devil
Yea but that's nota grad progmra right
Omnidragon
Devil
Yea just confirmed with a mate tonight too. This guy who interned at Macq IB and turned it down.
velox
Retired
I doubt pay would be any higher.§eraphim said:
Newbie, kudos to your friend, the test is so hard. And the way it is written with strange dutch symbols;slows you down heaps.
Was he an actuarial student?Good grades?
I personally wouldn't whinge about any of these salaries! Though given that you are selling your life away to the company in return, I suppose you'd want some sort of good compensation. I personally prefer a good work-life balance though, with an emphasis on the life. I mean, what's the point of a high salary when you can't even enjoy it properly? Unless you just do it for a few years, save up, and then go into a more relaxing job knowing you have a fair bit saved up already. Hmm that's a pretty good plan actually...!
