| Topic Name: |
Trans Advis vs Investment Banking |
| Message Name: |
re: curious |
| Date Posted: |
04/06/2005 |
| In Reply To: |
what bank do you work for? most ibanks (top 10-15) pay more than what you say. first year analyst comp is about $90-105K (including bonus). 1st yr associates should be making $200K all-in.
anyways, if you like what you do as an ibanker, you should stick with it. i would advise against TS because they do something entirely different. most of the work is basically the same as audit but applied to due diligence. its not really advisory work. i know some people in TS that tranferred from audit and they dont like it because of what i described above. they expected something more interesting but in the end, it was basically audit.
also, like a previous post said, it is not a sure thing to get promoted fast just because you are good. i know plenty of star auditors that dont move up the ranks because there is no space. mobility in TS and audit are definitely based more on need and less on merit. but i would guess the same is so with ibanking in the middle mgmt level.
im actually leaving audit to start as am IB analyst. the comp is way to low in audit for the hours and the exit opps are limited to accting. considering that your current pay is slightly higher than even senior mgrs in TS, you enjoy the work, AND your hours only be somewhat lower than it already is, it doesnt seem to make much sense to leave IB for TS.
in terms of exit opps for you, have you thought of joining a PE, getting an MBA, or joing an in-house M&A/corpfin division? |
| Message: |
I don't know which bank or firm you are with but your comp numbers are a bit high from what myself and friends on the street get paid. Your Ananlyst numbers are almost dead on I hear 80-100 (and I was in there) but associate seems a bit high for first years.
In short I work for a boutique and I'll leave it at that. I get paid about 10-20% less than the larger firms now; however, the that percentage will grow by leaps and bounds. The 1A pay range at my bank was 100K - 240K. My firm bonuses based on deals you are on, which really sucks from a junior position since you can't control your staffing.
ML and DB guys in the 1A class (at least my friends) were paid 140-170K. Sales/Trading 1A guys are Barcap did about 120-150.
200K all-in might have been for Bear or UBS as I heard both had good years but I don't know anyone there. Sure as hell wasn't JPM...poor guys.
Exit ops, I have been mulling that for a bit. I have my CPA, MBA and I am sitting for L2 of the CFA. I have considered financial sponsors but my network is not as strong as I would like there. In-house M&A is something I have considered but again I have no idea about comp numbers, hours, benefits etc. I would love to stay in M&A, it has its highs and lows but it is exciting and exhausting all at once.
|
|
