<p>if you work well over 100 hrs per week, then it's like working 2 or 3 jobs. so why do people do it?</p>
<p>is that a serious question?</p>
<p>My old job only paid 4,50 an hour and it was working in a greenhouse. My work was catagorized as: Heavy Agricultural Labor. Don't whine just work</p>
<p>THE BONUS.......it is for this reason.</p>
<p>Also factor in the health insurance + other benefits that the company provides. Not everyone is so lucky as to receive these types of benefits.</p>
<p>But I know what you mean....Say they work 90 hours per week and 52 weeks per year. </p>
<p>That's 4680 hours...Say they made $70,000 per year, that's only around $14.95 per hour. </p>
<p>BUT, there's a lot more you have to consider - you don't look at a salary position and comment on what it equates to as an hourly wage.</p>
<p>But...they don't just make 70k a year. Most of those who are working 90 hours a week are pulling down EASILY 110-120k.</p>
<p>but working 90 hours a week will not be very good for you... well it depends on what you do, but pulling 90 is easier said then done.</p>
<p>It's about 25 hours an hour without benefits.</p>
<p>That is included with your year-end bonus. Again, this shouldn't matter if you think about the exit opportunities. However, it appears, that many of the posters here have no idea as to what IB is, or, even care about anything besides the money.</p>
<p>Yeah but is a job as an investment banking analyst at Goldman or Citi an inferior job to driving FedEx vans? Those guys get paid like $30/hr. But they're at a dead-end job while your earning potential is close to infinite.</p>
<p>infinite? Don't know if I would go that far...In fact, it's kind of interesting to note that most people who end up going into IB leave it within 5-7 years and move on to bigger and better things (i.e. private equity or venture capital, where some REAL money is made).</p>
<p>and the people who get those jobs come from IB, hence the "infinite" earning potential.</p>
<p>While most people leave 5-7 years (I would imagine it is even less than that), their pay increases each year. So while you are right in saying the hourly wage for 1st and 2nd year analysts is very low, you have to keep in mind that get a lot more money each year, especially after 5 years.</p>
<p>when you consider the burn-out rate, it's really not the smartest move UNLESS you're actually passionate about it....Most i-bankers live a miserable existence</p>
<p>its definitely not an industry you should get into if you aren't passionate about it. Although if you want to be successful this advice should apply to any industry/job.</p>
<p>Infinite. Honestly, as gonsenheim says, if you are not passionate and dedicated about investment banking, you won't make it 3 months into the two year analyst program.</p>
<p>Here's a preview of the pay:</p>
<p>Analyst: $90-140k (high performers get a 1x bonus of salary)
Associate: (After MBA): $220K~ and up
VP: $400K+
SVP: $600K+
Director: (Vault Salaries) $800K-1 Mil
MD: $100K Base + 3 Million Bonus</p>
<p>Chairman (GS, LEH, MS): $30-50 million a year</p>
<p>About the pay: When I made it in the final rounds at Piper Jaffray, I was told the position I was applying for in CA would pay $130,000 (with bonus) with 80-90 hours a week and full amenities.</p>
<p>wolfy, you're a senior?</p>
<p>what job did you take?</p>
<p>Ibankers like to create thier own prestige. Basically Ibanks are the last bastion of snobby prestige whores. The culture is awful, the hours are horrendous, the bosses are snobbish. The best route is to just intern with a bank and then use that expierence to land yourself a good stint with bigoil or another industry. After a couple of years doing that, I would jump into Law School and finito there is my stable compensation at last.</p>