Need help...banking or law?

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throwaway_

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Re: Need help...banking or law?

Postby throwaway_ » Fri Sep 30, 2016 12:34 am

jbagelboy wrote:I'm not challenging that bankers make more than attorneys. Clearly its a more profitable line of work and a higher paying professional track. I just know when these salaries are inflated.


Well, sure ...

jbagelboy wrote:
buckiguy_sucks wrote:don't junior bankers make like half of 180 obviously if you make VP you're making fuck you money but how many people make it


Junior analysts (pre-MBA/JD) make ~$70k base plus $20-50k bonus, but IB associates (post-MBA/JD) make more like $125k+$50k or 135k+$50k plus a starting bonus. It ends up being pretty comparable, depending on the bank, for a few years, and if you make it in finance it accellerated beyond the law firm market scale (unless you make partner at a high PPP firm, which is a tiny chance).


(And $125k for A0s is basically standard among BBs now, and despite it being a pretty recent change it lags behind what elite boutiques start you at. Also, who cares? Even at A1, and onwards, all the play is in bonuses, which you'll agree don't go up in $10k/year increments the way they do in biglaw.)

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Re: Need help...banking or law?

Postby Anonymous User » Fri Sep 30, 2016 2:53 pm

throwaway_ wrote:
jbagelboy wrote:I'm not challenging that bankers make more than attorneys. Clearly its a more profitable line of work and a higher paying professional track. I just know when these salaries are inflated.


Well, sure ...

jbagelboy wrote:
buckiguy_sucks wrote:don't junior bankers make like half of 180 obviously if you make VP you're making fuck you money but how many people make it


Junior analysts (pre-MBA/JD) make ~$70k base plus $20-50k bonus, but IB associates (post-MBA/JD) make more like $125k+$50k or 135k+$50k plus a starting bonus. It ends up being pretty comparable, depending on the bank, for a few years, and if you make it in finance it accellerated beyond the law firm market scale (unless you make partner at a high PPP firm, which is a tiny chance).


(And $125k for A0s is basically standard among BBs now, and despite it being a pretty recent change it lags behind what elite boutiques start you at. Also, who cares? Even at A1, and onwards, all the play is in bonuses, which you'll agree don't go up in $10k/year increments the way they do in biglaw.)


All-in for GS stubs last year was around 180K, though not sure whether that included the 50K in structured signing comp. Other banks do pay marginally more but that's the GS discount for ya



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