<p>how much money can you expect to make after graduation with an econ degree on average?</p>
<p>Not much if you despise your occupation so strongly that you commit suicide within your first three months out of college.</p>
<p>Ha.</p>
<p>That's a pretty broad question, no? You can do anything with an econ degree.</p>
<p>do you guys have figures for investment banking, corporate finance, and working for the fed?</p>
<p>Typical pay at an i-bank runs $50-60K in salary and another $25-40K in bonus, depending on the firm and your performance. Of course, this question has been answered many times before. </p>
<p>From your posts here, it seems like you really don't have a grip on what i-banking is--that you just really want to make money.</p>
<p>jpps1: "From your posts here, it seems like you really don't have a grip on what i-banking is--that you just really want to make money."</p>
<p>Treated hard.</p>
<p>Ok, if you say so Jpps.</p>
<p>It's true though. Why would you even separate "investment banking" and "corporate finance"? They're pretty much analogous. When people say "investment banking," they mean "corporate finance." I know it's somewhat semantic, but nonetheless...</p>
<p>Really? My brother is a senior financial analyst at Johnson and Johnson; that is corporate finance. Investment banking is working for a company that focuses on investing, like Goldman Sachs, Morgan Stanly, merril lynch, smith barney, leman brothers, etc. Correct me if I'm wrong. There is no way my brother can claim that he is an investment banker...But you are entitled to your own definition.</p>
<p>From wikipedia's entry on I-banking: "Investment banks will typically be concerned with several business units, including Corporate Finance (concerned with managing the finances of corporations, including mergers, acquisitions and disposals), often called the Investment Banking Division of the firm."</p>
<p>From careers-in-finance.com: "Sometimes jobs in corporate finance are referred to as investment banking positions. When you hear phrases such as IBD or IBK people are referring to corporate finance."</p>
<p>From Indiana University's Undergraduate Finance Club Site: "The investment banking side primarily deals with corporate finance and all types of transactions pertaining to it."</p>
<p>You're not totally incorrect, however. You are right that your brother works in corporate finance. However, he works in-house at a company. The bread and butter of i-banks like Goldman and the like is also corporate finance. The only difference is that they charge a fee and work with clients on a case-by-case, company-by-company basis.</p>
<p>There's probably very little difference in the actual job duties, though.</p>
<p>Thanks for the links, perhaps I got the two mixed (or separated) because my brother said he is in corporate finance but not in investment banking. I'm going to join Blue Chip at Chicago to learn more about it (there is no doubt I need to learn more).</p>
<p>I'm probably going to join Blue Chips as well. See you there. ;)</p>
<p>Considering investment banking/corporate finance only exist for the sole purpose of making money, I don't really see a problem with jnumberscpcnumber's attitude.</p>
<p>I don't think people who are in that sort of profession do it because they love the job, and if they do, that's just a secondary bonus to their primary goal of getting rich. Similiarly, I would expect most of the members of the Blue Chips club to be worshippers of the almighty dollar.</p>
<p>I'm not deriding him for loving the money--I want to go into investment banking as well.</p>
<p>But to work 90-100 hours a week, you will have to love the job itself. After all, your salary only comes out to about $18 an hour--not much more than menial professions.</p>
<p>For me, it represents a job that I would enjoy, with tons of financial security. I'd also love to write, but the money just isn't there.</p>
<p>I think Ryan's post has truth in it. </p>
<p>PS
Working 90-100 hours a week is insane. My brother makes decent money but he has so much free time every day to do whatever he wants and his job is, according to him, "easier than school". I think I'm going to get a job that will give me time to appreciate the money I earned.</p>
<p>Ummm...people don't really go into banking for the first three years and 85K salary. Its more like paying your dues. After that people go to smaller shops or get an MBA. At this point (3 yrs I-banking + MBA) you will make about $95K + $35K signing bonus + about $50-$95K bonus. It usually averages out to about 200 grand. Few make it past 2-3 years after MBA, but those that do are making 400K +, and MDs (ten years post MBA) make from $800K to a few million. The dropouts usually go to hedge funds, private equity, etc and often do very well.</p>
<p>You have to really want it though and love numbers.</p>
<p>The 90-100 hours a week IS what you will have if you work at a place like Goldman Sachs, CSFB, JP Morgan, Lazard, etc...again, your brother works in-house. Investment bankers (who work at firms) work an insane amount of hours.</p>
<p>Read any of their career websites' "A Day in the Life" profiles...they get in at 6-8 AM and leave at 9-11 PM. Not to mention another 6-8 hours on Saturdays.</p>