<p>The thought here is not how many but rather number of available JDs to jobs demanding lawyers. Starting salaries for baby JDs wouldn't be jumping as they currently are if demand wasn't outpaced by supply. Basic economics.</p>
<p>To clarify: wharton undergrads do not come out with six figures. those are the MBAs. Wharton's avg. salary is b/t 55k - 60k. </p>
<p>And Meng, ^^ to you, too...like a true fob.</p>
<p>How can one live in NYC making 60k a year?</p>
<p>Operative word being "average" I certainly know more than a few who are signed on for 6 digits. Turned down 6 digit offers and chose their dream jobs. The salary numbers for this year are not published....yet.</p>
<p>there's a bonus of 10k maybe. </p>
<p>60 k is actually pretty good for a single person. Relative to the rest of america, that's a lot of greens. Plus, as an 1st year analyst, you don't "live" much...between your cubicle and your bed at home.</p>
<p>60 k doesnt seem bad. i don't live in or anywhere near nyc, but the average combined salary for a family in the us is in the 60k's so 60k starting out, especially when you're single, doesn't seem bad. obviously, it would be bad if your salary never increased.</p>
<p>But you do realize that analysts work 80 hour weeks?... For the amount of hours an IB analyst works a year assuming 100k/year, they make between 10 and 20 dollars an hour. Is it bad? no. But you can make just as much doing a ton of other things for much much less hours. The exit opportunities however, are hard to compare.</p>
<p>Obviously all wharton students have no option but to go into ibanking.</p>
<p>"Hi, I'd like to work for you"
"I'm sorry, you went to wharton. The consultants are thataway"</p>
<p>The reason people go into banking and whatnot are many and varied, but it all rests on choice, which anyone at Penn, regardless of school, has.</p>
<p>Also: no one makes 100k out of college.</p>
<p>I think everyone agrees that ibanking...the job...generally sucks...a lot. </p>
<p>whether it's worth the money and the time, by popular demand, I can generalize that plenty of people do answer "yes" to that question.</p>
<p>and yes, no one makes 100k out of college...unless you're heir to some huge, hierarchical family corporation, then you make a lot more than 100k...:P.</p>
<p>pufuhhhhhh...yea i said it.</p>
<p>im going to make 100k out of college, WITH AN ENGINEERING DEGREE WOOOOO! ;)</p>
<p>Oh ok.</p>
<p>.</p>
<p>$10 hr to make $60k would mean 6,000 hrs/yr or 120 hrs/week - this is nearly impossible. A lot of the "no life" stories are exaggerated - people like to tell war stories. Even if you work say 8AM to 8PM 5 days and 1/2 a day on sat, with 1 hr for lunch and breaks, that is more like 60 hrs/week, 3000 hrs. year , so $20/hr is closer to right. Not many jobs for English majors start at $20/hr. Plus there are bonuses, etc. that bring that up and that's only the 1st year - it goes up after that.</p>
<p>But, if you read "Freakonomics" (excellent book) one of the questions they ask is "If selling illegal drugs is so lucrative, why do most drug dealers live with their mothers?" (which apparently they do). The answer is that drug dealing is like a big pyramid - the guys at the top of the organization really do make millions. And every street corner drug dealer who joins things that he will get to be "Mr. Big" or at least get promoted to the next level. Of course in real live, 80+% never get beyond level 1 (street corner dealer) which pays less than working at McD's.</p>
<p>Same thing for i-banking, except for "street corner dealer" substitute "analyst".</p>
<p>Hey guys look I'm quoting freakonomics</p>
<p>and doing algebra...</p>
<p>lookey here percy, i don't know what you're trying to pull</p>
<p>the only person stupid enough to use their entire name for their user id is me.</p>
<p>there is and always will be only one dumb a**, i mean, Mung Chung in this world</p>
<p>this thread is boring me to tears.</p>
<p>Whartonites can always go into carpentry or other vocations...</p>
<p>Hey Venkat that was clever when I said it a couple years ago</p>
<p>Why don't you stick to something new and original like Ninja Turtles or Vanilla Ice</p>
<p>i always create gay threads for some reason...</p>
<p>maybe you should go cure that</p>