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  1. #31
    Registered User ralphlaurenbrah's Avatar
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    Investment bankers don’t make that much anyways. I’ve seen the numbers. You are also literally stuck based on how the contracts are written. Most of your pay is based on bonuses that only become sellable 3+ years into the future and if you quit you lose the last 3 years of bonuses. So you are literally stuck.



    If you have what it takes to make it in IB then medicine is a much better career imo. The top end of finance is much higher, but the guaranteed money of medicine is much better.
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  2. #32
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    Originally Posted by ralphlaurenbrah View Post
    Investment bankers don’t make that much anyways. I’ve seen the numbers.



    If you have what it takes to make it in IB then medicine is a much better career imo. The top end of finance is much higher, but the guaranteed money of medicine is much better.
    respec for ralph lauren, I just copped these sweeties off ebay:





    here is Aus, RL is good, though Nautica is much more popular...
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  3. #33
    Registered User ralphlaurenbrah's Avatar
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    Originally Posted by Codyisback View Post
    respec for ralph lauren, I just copped these sweeties off ebay:





    here is Aus, RL is good, though Nautica is much more popular...
    Wait until you see purple label. Ralph Lauren is seriously a great designer. I love the dude’s stuff.
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  4. #34
    Manifesting changes DassItMan's Avatar
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    in b4 accounting cels
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  5. #35
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    Originally Posted by ralphlaurenbrah View Post
    Investment bankers don’t make that much anyways. I’ve seen the numbers. You are also literally stuck based on how the contracts are written. Most of your pay is based on bonuses that only become sellable 3+ years into the future and if you quit you lose the last 3 years of bonuses. So you are literally stuck.


    If you have what it takes to make it in IB then medicine is a much better career imo. The top end of finance is much higher, but the guaranteed money of medicine is much better.

    this is not true at all...granted if you quit during the year before your bonus is paid out you are not entitled to it. but you do not lose prior years bonuses that were already paid to you if you quit...wtf. where the hell did you hear that? no credible bulge, middle or boutique bank does that. that is literally asinine.
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  6. #36
    Registered User bigdownunder's Avatar
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    Originally Posted by TheWeeknd4Ever View Post
    this is not true at all...granted if you quit during the year before your bonus is paid out you are not entitled to it. but you do not lose prior years bonuses that were already paid to you if you quit...wtf. where the hell did you hear that? no credible bulge, middle or boutique bank does that. that is literally asinine.
    Most mid and senior level positions come with a deferred compensation structure. Depending on the bank and location, that might mean that you have deferred comp (either cash or, more likely, equity) tied up for up to 7 years.

    If you leave voluntarily (i.e., not made redundant) you generally forfeit your deferred comp. If you are moving laterally within the industry, you generally try to negotiate for the new shop to buy out your deferral (so it transfers across).
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  7. #37
    Registered User ralphlaurenbrah's Avatar
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    Originally Posted by bigdownunder View Post
    Most mid and senior level positions come with a deferred compensation structure. Depending on the bank and location, that might mean that you have deferred comp (either cash or, more likely, equity) tied up for up to 7 years.

    If you leave voluntarily (i.e., not made redundant) you generally forfeit your deferred comp. If you are moving laterally within the industry, you generally try to negotiate for the new shop to buy out your deferral (so it transfers across).
    That’s what I’ve heard. Seems ****ed up but I believe FAANG companies do the same **** to their more advanced software devs.

    Here’s a good presentation that opened my eyes about IB. It’s still a good gig if you want to go into PE or something I’m sure though.

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  8. #38
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    Originally Posted by bigdownunder View Post
    Most mid and senior level positions come with a deferred compensation structure. Depending on the bank and location, that might mean that you have deferred comp (either cash or, more likely, equity) tied up for up to 7 years.

    If you leave voluntarily (i.e., not made redundant) you generally forfeit your deferred comp. If you are moving laterally within the industry, you generally try to negotiate for the new shop to buy out your deferral (so it transfers across).
    This happens with the top level of management at my company, but definitely not mid management.
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  9. #39
    It's over for you aleeboy's Avatar
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    Originally Posted by janglingjack View Post
    This happens with the top level of management at my company, but definitely not mid management.
    At your level in the company, it is customary to lay off Associates and Senior Associates 1-2 months before bonuses are paid. The sole reason for this is because the MD in charge of your department's cost center thinks you contribute less than they do. After they fire their whole team, the MD is then fired by his Senior MD.

    Just LOL at the politics in banking.

    It is over already. Only oldcels have legacy work contracts. If they aren't high enough, or a new CEO comes in, they are gone!
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  10. #40
    Registered User elterrible987's Avatar
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    Originally Posted by Aristotelian View Post
    You think Andrew Yang (your idol it seems) is talking about people like me?

    Newsflash: he's talking about people like you...the low skilled kind. I mean, you can't even get laid (I see you in every incel thread) and you want to talk to me about how my super lucrative career is going to be automated?

    Lmao lol

    lel if you think the codecels cant make an AI to find money patterns, have fun hawking health insurance plans in the future when youre kicked to the curb, cucked by codecels.

    Do all of your other big wig wallstreet friends spend their weekends reading incel threads? lol at this fraudcel
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  11. #41
    Manifesting changes DassItMan's Avatar
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    Originally Posted by elterrible987 View Post
    lel if you think the codecels cant make an AI to find money patterns, have fun hawking health insurance plans in the future when youre kicked to the curb, cucked by codecels.

    Do all of your other big wig wallstreet friends spend their weekends reading incel threads? lol at this fraudcel
    Man people on the internet think AI is way more advanced than it really is. Reality is, it really can't do shyt right now to replace most jobs in the finance world. You have to also consider cost of designing this thing and initially with newer tech it's way more expensive. Maybe in 30 years AI will be able to successfully assemble a McDouble from scratch and maybe in 50 years it might be financially reasonable enough for McDonald's to have a McDouble bot. We're not in the movies, wake up.
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  12. #42
    Registered User vulgoo's Avatar
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    Just lol @ op
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  13. #43
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    Originally Posted by DassItMan View Post
    Man people on the internet think AI is way more advanced than it really is. Reality is, it really can't do shyt right now to replace most jobs in the finance world. You have to also consider cost of designing this thing and initially with newer tech it's way more expensive. Maybe in 30 years AI will be able to successfully assemble a McDouble from scratch and maybe in 50 years it might be financially reasonable enough for McDonald's to have a McDouble bot. We're not in the movies, wake up.

    It can drive a car through traffic. You know they have automated trading programs TODAY? are you even a finance bro? You think they cant design AI to find a pattern of numbers? just lol
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  14. #44
    It's over for you aleeboy's Avatar
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    Originally Posted by elterrible987 View Post
    It can drive a car through traffic. You know they have automated trading programs TODAY? are you even a finance bro? You think they cant design AI to find a pattern of numbers? just lol
    This.

    A major explanation for stocks volatility is the heavy use trading algorithms by the Hedge Fund industry. Welcome to the new world of stock investing LOL
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  15. #45
    Positive Mental Attitude Aristotelian's Avatar
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    Originally Posted by aleeboy View Post
    This.

    A major explanation for stocks volatility is the heavy use trading algorithms by the Hedge Fund industry. Welcome to the new world of stock investing LOL
    ? Do you even finance? Those algorithms were already being developed in 2006...by codecels in jeans and dress shirts making lots of bank working for investment banks...

    The point was about "AI" and automating jobs. Hint: "trading" isn't all there is to IB and you guys spend way too much time on r/wallstreetbets
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  16. #46
    I Laugh Godfrd824's Avatar
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    Originally Posted by TheWeeknd4Ever View Post
    I'm at $160k now, I will keep you updated and let you know when I hit 300
    Right, but how many hours do you work? I made a bit more than $110k last year, but I work on average 35 hours a week, and take at least 40 days off per year.
    Last edited by Godfrd824; 12-02-2019 at 05:21 AM.
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  17. #47
    Registered User ScramFranklin's Avatar
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    Money. I'm an engineer and wish I did something lucrative like finance.
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  18. #48
    Positive Mental Attitude Aristotelian's Avatar
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    Originally Posted by Godfrd824 View Post
    You work 80 hours a week and make what amounts to $16 an hour, why would anyone want to get in?
    Just to be clear...not everyone goes into M&A and works 90 hours a week for 60k pa in NY when they start.

    You're talking about KPMG guys in your example above or any Big 4 new employee these days really. Not "finance" as a whole.
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  19. #49
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    Originally Posted by Godfrd824 View Post
    Right, but how many hours do you work? I made a bit more than $110k last year, but I work on average 35 hours a week, and take at least 40 days off per year.
    Ok, and you will be making that plus a 10% salary bump next year.

    Where is the progression?

    I am literally in the first year of this career path. Almost a year in. I will clear north of $200K in 2020 and my hours will still be the same. Average 75.
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  20. #50
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    Everyone talking about AI stealing finance bros jobs...

    The AI programs project future data, and these projections can always be wrong..

    Coupled with the fact there is always errors in any complex software..

    Imagine a hedge fund losing trillions beacuse of a coding error.. Thats why AI will only be a supplement to finance..

    We still need real humans who understand human emotion and behavior to review the projections and give their own advice..

    So AI will be working in tandem with finance bros, creating even more jobs for FIN brahs.
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  21. #51
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    Originally Posted by Aristotelian View Post
    brb some of my suits are worth more than you make in a month
    brb some of the financial movements I have investigated amount to billions of dollars removed from counterfeit and money laundering systems.


    brb - we are coming after guys who like to "side hustle" and think uncle sam doesn't know about it.
    you see this watch? you see this watch? that watch cost more than your car.
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    Originally Posted by TheWeeknd4Ever View Post
    Ok, and you will be making that plus a 10% salary bump next year.

    Where is the progression?

    I am literally in the first year of this career path. Almost a year in. I will clear north of $200K in 2020 and my hours will still be the same. Average 75.
    So I work about 1900 hours per year, and make like I said, a bit more than $110k last year, where as the year before that I made about $90k, and the year before that I made about $65k. I'm 4 years into this career. Whereas you work about 3900 hours per year. So I make more per hour than you do, about 30% more than you do. I don't see the appeal of killing yourself for the promise of what may never be. Plus you're in Canada, so assuming you're talking Canadian dollars, I made $10k less than you last year, whilst working less than half the hours you did.

    I just don't get it. But good luck in your endeavor.
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    Registered User rexfrommex's Avatar
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    im an accounting student about to graduate with my masters in spring 2021. let me add yall on linkedin plzzzzzzzzzzzzzzzz hook me up with the jobs seriously hit the dms
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    Originally Posted by ScramFranklin View Post
    Money. I'm an engineer and wish I did something lucrative like finance.
    you still can boyo. I've read that the finance industry loves engineers because of their critical thinking skills
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    Originally Posted by rexfrommex View Post
    im an accounting student about to graduate with my masters in spring 2021. let me add yall on linkedin plzzzzzzzzzzzzzzzz hook me up with the jobs seriously hit the dms
    if you struggle to get an accounting job right out of school you're doing something wrong. public accounting just wants bodies due to the high turnover
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    Originally Posted by Godfrd824 View Post
    So I work about 1900 hours per year, and make like I said, a bit more than $110k last year, where as the year before that I made about $90k, and the year before that I made about $65k. I'm 4 years into this career. Whereas you work about 3900 hours per year. So I make more per hour than you do, about 30% more than you do. I don't see the appeal of killing yourself for the promise of what may never be. Plus you're in Canada, so assuming you're talking Canadian dollars, I made $10k less than you last year, whilst working less than half the hours you did.

    I just don't get it. But good luck in your endeavor.
    Oh, we’re doing currency conversions. That makes no sense. If I was in new york I would be making wayy more than this and in US dollars becauuse, cost of living. So, what you are saying makes no sense.

    Oh wow, cool. Comparing per hour wages to salaries is retarded but ok, have at it. In no metric do you make more than me or most people in finance, and the gap will just continue to widen over the years. That’s the upside. Not sure what you are talking “what may never be”, you seem confused and still think the pay scale is speculative instead of definite. I’ll let you know when I’m at 300k in the next few years and i look forward to you telling me you still make more than me per hour
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    Originally Posted by TheWeeknd4Ever View Post
    Oh, we’re doing currency conversions. That makes no sense. If I was in new york I would be making wayy more than this and in US dollars becauuse, cost of living. So, what you are saying makes no sense.

    Oh wow, cool. Comparing per hour wages to salaries is retarded but ok, have at it. In no metric do you make more than me or most people in finance, and the gap will just continue to widen over the years. That’s the upside. Not sure what you are talking “what may never be”, you seem confused and still think the pay scale is speculative instead of definite. I’ll let you know when I’m at 300k in the next few years and i look forward to you telling me you still make more than me per hour
    I'm getting carsalesman vibes from you because of how much your job matters to your self esteem. Still though, no hate, IB is hard work and I respect that.
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    I went to Booth for my MBA, they showed some calculations that I want to say the difference in Net earnings over a lifetime were like 8 digits if you chose to go into I-Banking vs anything else out of a top MBA school.

    It's not just the money that you make on Wall Street, but the jobs you can get later as a veteran I-Banker.


    fun fact, I went home and told my wife we were moving to New York when I graduate, and she said not if you want to have kids we're not
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    The reason you get into Finance is for the money. A lot of people will join, get a couple of years in, and then only the best of the best will move on and make the big bucks. Only downside to finance is that it can be highly volatile, and if the market collapses everyone essentially gets canned.

    I'm an engineer, I make over 6 figures at 25 years old, I work mainly 40 hours a week, and up to 60 hours if needed. I personally hate finance as I hate dealing with money and all of that. I hate the fact that the environment is largely toxic, with coworkers willing to sell each other out to make it up the ladder. I also hate the fact that a majority of what you do is not tangible, and its all formulas/projects/whatever else is getting done. Wouldn't be surprised if a lot of the whole Finance sector gets wiped out with later technological advancements but who knows. It may not be now, but eventually I think entire societies will solely focus on STEM careers and everything else will be pretty much useless, like in the next 50-100 years.

    Some people also just generally like finance and how money moves and changes our entire country. Some people like to understand how we can build and design new machines and technology, and then some people are really into Gender Studies... you never know man.
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    Banned TheWeeknd4Ever's Avatar
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    Originally Posted by mobp View Post
    I'm getting carsalesman vibes from you because of how much your job matters to your self esteem. Still though, no hate, IB is hard work and I respect that.
    Not at all. I listed some points as to why people want to go into finance, and focused on salary in specific because that is usually always the main driving force. Why does that make my job the driving force of my self esteem? I have a lot more going for me other than my job and I generally don’t talk about it irl unless specifically asked.
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