<p>Thank you all for the input! I planning to attending Stern(If i can get in). Wharton and MIT are on the top of my list. POIH, I know that MIT is extremely prestigious; my school gets about 75% of the state matriculation(7 people got in this year). Also thanks to all that warned me about this profession -but my schedule right now is comparable to that of an IBer (I sleep for 6 hours, then school, then homework, then EC, then eat the only meal that i have time for). I have also watched enough documentaries about wall street to know that the career isn’t very pretty, but I’m not planning to do this for the money(the starting salary isn’t a lot for places like Manhattan); I could just go to some state college and become a family doctor and earn a decent wage with maximum stability. But I’m just a guy who wants to experience the challenges -and if I can break in and remain sane, then I’ll definitely stick to it.</p>
<p>Ah-- good point about the masters- could represent a student who either returned to school from the workforce or who attended part time while employed. And the outlier undergrad finance and IB salary reports of $150 and $190K? Could that represent a part-time graduating student (or 2) or, perhaps, that MIT’s survey may have the student combine salary, signing bonus, moving (relocation) expenses, etc whereas other surveys might just ask for base salary?</p>
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<p>Welcome to the world of Investment Banking and derivative trading… So this just verified that you know nothing of the field. </p>
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<p>The starting salaries for no two people are same in I-Banks. That is just plain wrong. Just get in touch with two people joining GS and find out about their package and you will be surprised how different both will be.</p>
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<p>If this would have been true then everyone will hire more people from state university than from Harvard.</p>
<p>We are talkign about base salaries, POIH. A base salary of $400k, unless the person has been working in the field for quite some time and happened to go back to school on the side, is not believable. Do you have proof of a base salary of 400K for a newly minted Masters student? Please don’t say this salary survey is “proof”. It is not.</p>
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<p>Sorry oldfort but this is again plain mis-representation. MIT specifically list BS and MS/MBA data separately and $190K and $150K salaries are for BS students.</p>
<p>And there is something fishy about them. I am guessing they are errors or include signing bonus, relocation packages, etc. Could represent possible maximum first year salary if bonuses are achieved. You can not count work/sales bonuses into a salary.</p>
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<p>MIT is the only institute that lists student accepting jobs in Investment-Banking separate from other financial services and list in 4 categories.</p>
<p>Just list 1 good point why a top I-Bank should go to Cornell over MIT for investment banking hiring?</p>
<p>Can you find out from the career development office how these questions are re: salary are worded so we know what these numbers mean? That would be helpful</p>
<p>This [Salaries</a> in Investment Banking](<a href=“http://www.careers-in-finance.com/ibsal.htm]Salaries”>http://www.careers-in-finance.com/ibsal.htm) is more believable
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<p>The numbers reported by some MIT students may include bonus and equity eligibility estimates.</p>
<p>POIH - Just out of curiousity, do you know anyone in IBanking? Where are you getting all these information? From each school’s career center surveys? Why don’t you humor us, call up MIT’s career center and ask them what’s 2011 analyst at BB starting salary? Ask them how many will be working in S&T, investment banking, IT, structuring.</p>
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<p>Is this a joke? You have to be in it, in order to welcome someone into it. Do you know what is derivative trading (don’t look it up on Wikipedia)?</p>
<p>jym626 - what you are quoting is someone who is not in an analyst or associate program. Top students want to get into an analyst program, not just a job at an IB. Firms spend a lot of money in training those analysts. D1 will be going to London for 2 months, then rotated around for few months before she is placed at a desk. She really is not going to be productive until 2012. Once those analysts are out of training, with a bit of experience, they are highly sought after by some firms (lower tier) that do not have funding to have a training class. This is no different than the consulting or legal world.</p>
<p>That article references junior analyst positions. Am I missing something?</p>
<p>You could be a junior analyst and not have gone through the training program. I hired someone into finance to do P&L for my department. He is an analyst, but he didn’t go through the training program.</p>
<p>I mentioned it in another thread. For 2011 full time analyst, base 70K, 10K sign on bonus. At D1’s firm, it’s very likely most of them will get similar bonus in 2011 because they won’t get placed until end of year. At other firms, if those analysts start working right away with shorter training period (like July), then they could get a bigger bonus in 2011.</p>
<p>The training program would be offered on the job, correct? Can they get any of it done during an internship? If they were hired as a junior analyst, do they then go through the training program on site? How long is the training program?</p>
<p>jym626 #50 negate for sure the following oldfort claim in #35</p>
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<p>So how come anything else be reliable coming from oldfort.</p>
<p>I find her information very reliable. On the other hand, I looked up derivatives trading salaries on glassdoors, and was unimpressed with the numbers. The credibility of her information is not the one coming into question here, POIH.</p>
<p>If you could get more information from the MIT Career development office as to exactly what questions they ask of their grads with respect to salary listed (ie does it include signing bonus, relocation, etc) that would be very helpful</p>
<p>Starting analysts do make the same base salary across the board, period. If you disagree with this statement then you are just talking out of your ***. They are not going to pay someone from MIT 100k and someone from Cornell 70k to do the exact same job.</p>
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<p>MIT list separately specifically of investment banks that accept student for investment banking.</p>
<p>Cornell doesn’t even list that so you should ask Cornell that question. Also you have not listed one single point that should force an I-Bank to go to Cornell over MIT for Investment Banking. I can list 6 at least in MIT’s favor.</p>
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<p>They certainly do pay different salaries to different people and if you believe otherwise then you live in your own made up world and not in reality. I can even challenge that two students from Cornell if hired by Investment Bank will get different salaries.</p>