<p>Okay, so I have done some research on IB and cannot seem to overlook ignore the salaries. I understand that many go into the field for two years and move on due to the fact that the hours, work, and nature of the field is unheard-of. Furthermore, as I search, I continue to see that entry-level jobs are well north of 100k. Can anyone confirm this? Directly out of an undergrad degree? 100k+? I know the work is crazy, 80+ hours a week? From two years in iBanking, where do most turn to?</p>
<p>Starting 1st year salary is now usually $70k, plus 10k sign-on bonus, plus average 1st year completion bonus of $40k (could be more, could be less depending on bank, rank, etc -check this out to learn more on how [bonuses</a> are decided](<a href=“http://www.bankonbanking.com/2010/04/07/improving-your-rank-and-filling-your-purse-as-an-analyst/]bonuses”>http://www.bankonbanking.com/2010/04/07/improving-your-rank-and-filling-your-purse-as-an-analyst/)) for BB banks and elite boutiques - smaller shops, of course vary, but usually the starting salary is pretty consistent, the bonuses vary.</p>
<p>From 2 years in IB, many choose a 3rd year, others choose B school, private equity, buyside/corporate gig, smaller boutique IB for hours that are a little better - these are the most common choices. </p>
<p>PM me if you have any other questions.</p>
<p>IBanker</p>
<p>PM’ed. Thank you.</p>
<p>
</p>
<p>
</p>
<p>Of course I’m not the expert in ibanking, but since the OP prefaced his post with a general comment on “average incomes” I thought it would be prudent to through a couple general questions out there myself.</p>
<p>We speak of all these exit opportunities yet the real question is what becomes of the average ibanker? We hear of all these high incomes but the truth of the matter is that the average ibanker never makes it far enough to see that correct? Does the average ibanker possess the mental and physical ability to operate in a stressful environment for over two years? Those are just a few of the questions you have to find the answers to for yourself and don’t look at the ONE guy that made it.</p>
<p>Dedicate yourself to ibanking because you love it; don’t do it for a paycheck because there are ways in the public service sector (not illegal although potentially hazardous) that can net you $150,000 a year with 0% Federal income tax at age 22.</p>
<p>
</p>
<p>Details? What kind of jobs are you talking about?</p>
<p>Polo, I know its your life’s work to talk people out of a finance career, but the average banker does pretty well post analyst stint, 6 figure incomes, less hours, etc. Please, no one does banking because they just love putting together powerpoint slides at 3am to get on the boss’ desk by 9 am so he can look at it next week. They do it because its a right of passage for bigger and better things, and the immediate pay is better than most anything else you can find out of college.</p>
<p>
Some law enforcement agencies in my state will pay a full year’s income while an officer is a member of the Reserve component and serving a combat deployment. Also, when you’re deployed in support of a combat operation your Federal Income tax goes to 0% which is why you see so many people re-up in theatre because the bonus would be tax-free.
I agree, but the question remains: How many out of the ones that try actually go on to “bigger and better things” and how many go back to some corporate finance gig where…
If you’re as equally ambitious, talented, gifted, and intelligent you could match that in government as well. Look at all those cops that made rank quick in large city PDs who are also in the Reserve component. They’re not making less than $180k a year (if they only paycheck they accept is one from the government). They’re retiring at age 45-50 with pensions worth $130+k per year with full benefits. They can probably pursue a third career which they have a passion for. And when the economy goes south, they’ll be at a BBQ with all the “average” ibankers and ask, “Gentlemen, why all the long faces?”</p>
<p>Don’t put words in my mouth, I’m not talking 100-250k jobs, unless you mean the year immediately after the 2 years then maybe. I am not a fan of IBD, I’m a markets guy, but that’s how it is.</p>