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Average starting salary in Ibanking at Wharton is 56k:</p>
<p><a href="http://www.vpul.upenn.edu/careerserv...2005Report.pdf%5B/url%5D">http://www.vpul.upenn.edu/careerserv...2005Report.pdf</a></p>
<p>I know its fun to think that someone in a fancy pin-striped suit is going to hand some college kid an 80k signing bonus, but life isn't that easy.
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<p>Yeah, but this figure is highly misleading. It only talks about salary. The truth is, the bulk of your compensation in Ibanking is made from the bonus. The problem of course is that nobody knows exactly what his bonus is going to be, so you can't really "report" it in a salary survey. The bonus depends on the state of the economy, the deals that you get assigned to, your individual performance, and other factors. </p>
<p>Nevertheless, it is indisputable that the Ibanks pay extremely well, and yes you really do have kids fresh out of college making tremendous amounts of money. </p>
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Bonuses vary greatly by the economic cycle. For example, in 2002 and 2003, bonuses for first year analysts ranged from $10,000 to $25,000, while in 2005 the bonus range was from $40,000 to $65,000 for first year analysts. In 2006, the median top bonus is projected to be $80,000 for first year analysts, $100,000 for second year analysts, and $120,000 for third year analysts. The difference is more substantial the more senior the banker.</p>
<p>I can confirm that 2006 figure for 5 or 6 of the top banks; 80K for salary+signing, plus 80K bonus, isn't that rare at all; you'd be surprised
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<p>I still say you're a bit high. To quote directly from the Wikipedia article:</p>
<p>"Investment bankers are compensated through a base salary that is paid through the year and a large year-end bonus, in July for junior bankers and in November for senior bankers. In the United States recent graduates, typically of top universities, are hired to fill analyst positions and are commonly paid for their first year a $60,000 salary, a $10,000 sign-on bonus, and a bonus that ranges with the reputation and the profitability of the firm but can be as high as $85,000; bonuses are somewhat opaque, often exaggerated, and vary wildly from year to year, 2006 being considered universally a strong year for bonuses. "</p>
<p><a href="http://en.wikipedia.org/wiki/Investment_banking#Compensation_-_USA%5B/url%5D">http://en.wikipedia.org/wiki/Investment_banking#Compensation_-_USA</a></p>
<p>So the point is, I think you should expect something like 120-140k total. 2006 was a very strong year for bonuses, and it is unlikely to be that high again anytime soon. Furthermore, I'm not just talking about the top 5-6 banks. Plenty of people work at the smaller boutiques or other such firms that don't pay as well, especially if you don't work in New York.</p>