<p>Hey guys,</p>
<p>I know I am looking waaaaaaaaay into the future but do Ibankers receive nice retire packages? Like I know in many other proffessions, ur retirement money like just a small percentage of your normal income, is that how it works for Ibanking too? Or do you just have to live off of the bonus money you saved during your years at an Ibank? Also, about what is the average savings for ibankers. Like, after say 15 or 20 years, how much would you say the average banker would have been able to save of his bonuses. I have been hearing upwards of 5-10 million.</p>
<p>Thanks</p>
<p>If you can survive for 10 years let alone 15-20 you will be making in the seven figures. But most likely you will either: A) burn out from the long hours and stress B) get laid off because you are not a money generator</p>
<p>Try and get into an ibank first and then try and survive.</p>
<p>I agree. Focus on getting into the field. And depending upon where you end up, treat IB as an extention of business school. If you go into the field to learn and to do things better, you'll do fine. </p>
<p>If you're just thinking about the $$$$, do something else because they will quickly chew you up and spit you out. In addition, treat the job as if you're the entrepenuer. This will be very essential because you have to learn to think outside of the box. And finally, ask yourself this question,"why do I want to go into IB? What was my inspiration to want to follow this path? How would I use the skills learned to help others with their business solutions?"</p>
<p>That IB 101!</p>
<p>Don't believe about the fantasy of multi-millionaire IB that people talk about; most analysts/associates will never get to that level, which is at the rank of VP and MD.</p>
<p>vp's dont make 7 figures, closer to 500-600,000. Ok you need to think more on the lines of getting into the career you want first, instead of the money you will make. IB isnt usually a life long career, those that do move up make their money and move on to something else, others change employers and move off into another form of finance with smaller firms that offere less working hours. You work hard, you can make good money, but it takes a lot of luck to get there. I want to live a nice life, but i want to teach as well, that is my motivation, i want to get in and get out by 40 weather i am doing ib, consulating, hedge funds whatever, just want to retire early so i can teach at a university somehwere for econ</p>