Borg wrote:JJ123 wrote:guano wrote:JJ123 wrote:Why not MBA and then investment banker? You'll get paid more than big law.
Most people I know who went into ibanking make considerably less
The pay scales at top investment banks are higher than top law firms.
You may be comparing the lower end of investment banking to the upper end of law.
Oh, you mean at the banks where bonuses are commonly "withheld" so people are often just getting base salaries and have to stay for x amount of months more to figure out what their actual compensation is? Banking is a mess right now and compensation is not that straightforward anymore. A first year associate at a bulge bracket bank will probably make around 200, but much of that is discretionary bonus, and the increase from year to year isn't nearly what it once was. BTW, I'm working in finance and often think about how nice the pay security of law actually is, and I know people who left law firms, got MBAs, and then went back into law because it's actually a pretty sweet deal.
Ok, so there's less pay security. But the pay is generally higher in investment banking. No one is paying $200k for 1st year associates in biglaw. That's all I was pointing out.