<p>Is there anyway that an undergrad can make more than 500K per year few years after graduating from a college, given that he/she is going to i-banking?</p>
<p>What career paths do you guys recommend if i want to make more than 500K per year in the future?</p>
<p>This is just an absurd, unnecessary thread.</p>
<p>“AHHH MONEY MONEY MONEY! HOW DO I GET IT!?!?!”</p>
<p>Give me a break.</p>
<p>Its hilarious that you would ask a forum mostly composed of college undergrads and high school students how to earn such a massive salary. </p>
<p>To answer your question, you will never make such a salary in ibanking because money is your motivation. You probably wont be able to survive the first few analyst years.</p>
<p>Unless you’ve got some ridiculous skills or connections, good luck.</p>
<p>there’s no easy way of getting rich</p>
<p>the easiest way would be to sell your soul, and ibanking isn’t far from that.</p>
<p>you will not have a life for the first few years working there, plus you don’t know how you’re going to respond to such long hours. if you go in for the money, you won’t last. 99 percent of the successful people there enjoy what they do, the other 1 percent coming from brats who have parents in high places.</p>
<p>also, i fyou haven’t noticed, the market isn’t very good right now. it will be (extremely tough) just getting an internship. </p>
<p>now i’ll try to tackle your other question.
if you excel at what you do, you will make 500,000 per year no matter where you go.
now the standard options are doctors, lawyers, bankers, actuaries, accountants, business-owners, investors, etc.
but don’t choose a job based solely on the pay. you will hate yourself for it in five years.</p>
<p>sources- several family members with ibanking experience</p>
<p>I haven’t the foggiest idea, but respect for admitting you’re that shallow - it takes balls.</p>
<p>$500,000 after only a few years. Good god man, aim a little lower. You should take up rapping instead of ibanking for that type of money. Drizzy Drake or Lilk Wayne get probably four to five times that annually along with hoes and respect.</p>
<p>^ True dat lol</p>
<p>It’s totally possible. Your job is to figure out how to be truly indispensable to your firm. Do something revenue generating better than everyone else. You need one of a kind skills/knowledge/client loyalty/ideas.</p>
<p>If you have that and can do that, you will make huge money in any industry.</p>
<p>honestly, pimping is probably your best option, although considering the fact that you likely are not pimp material based on this thread I dunno, however, I was watching MANswers on Spike TV and they calculated that a pimp can make around 800K a year and that is all cash.</p>
<p>The winners in finance make more than just about anybody, with the possible exception of a handful of tech entrepreneurs. That said, the probability of winning in finance is low. Any highly scalable business will produce a few winners and and a lot of losers. A 10 man team can oversee billions in capital. </p>
<p>The 500k/year mark is just low enough that it could probably be reached more easily in other industries, depending on the individual’s skill set. For example, nobody in marketing can work there way up to earning 10 million a year as an employee. Yet I personally know creative directors making 750k/year. These creative directors would not have made it past the analyst stage in ib, if they even got in. </p>
<p>Thus, marketing may be a better field for many when viewed in probabilistic terms. 50 cent may make 50 million a year. Doesn’t mean you should pursue rap.</p>
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I’m in complete agreement with wutangfinancial. When you actually take a look at all the steps it takes to go from graduating high school to making more than 750k/year, you realize that the answer is not able to be answered in one single post on an internet. It’s easy to say, “this field MAY allow you to one day make 750k/year”, but to actually commit to it, perform well, play your cards right, and get lucky is another story.</p>
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<p>It depends what your definition of winning is. If you consider making $300K a year 10 years out of college as failing, then you’re probably right.</p>
<p>300k/year is a lot for someone in their early 30’s. It’s about three times what most average college grads will ever see (I’m actually looking at payscale data). </p>
<p>That said, you can make that figure in many, many industries. In fact, tradesman working on oil rigs in Nova Scotia make about that much, and they only work 6 months of the year (although they don’t get to see their family for 6 months). Plenty of junior VPs at big companies make that much (or close). Plenty of franchise and small business owners make a multiple of that.</p>
<p>My point was simply that excluding the truly ludicrous comp at the top of the heap in finance, there are other ways to make equivalent sums of money that may fit an individual better. Going into finance doesn’t make sense unless you’re really into finance.</p>
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<p>Take a business course, then post.</p>
<p>For salary, $500k/yr is unusual in any ‘conventional’ industry (excluding entertainment, pro-athletics, etc.) There are very few wage-earners in that bracket.</p>
<p>Achieving that compensation level is far more likely if we were to include incentive-based payment (commissions, profit-sharing, etc.) But again, for most industries, really only the top performers in any industry segment hit that level…though Wall Street certainly had a higher concentration than the rest of the industry.</p>
<p>I think you’d have to be an associate to make that type of money consistently. Get an MBA first. And for everyone chastising him for asking about money… Really? Wow. Don’t tell me you actually would find enjoyment in this.</p>
<p>I mean, I enjoy the field and everything, but it’s not my idea of “fun”. And 500 k a year is hardly rich.</p>
<p>I will make 100 million dollars a year in Investment Banking! I’m going to be so rich that my chauffeur will have a chauffeur, who in turn will have a chauffeur. And that final chauffeur will be Boss Limbaugh!</p>
<p>you’d need to be a pretty senior associate at a investment bank that is doing well I think to get that kind of money.</p>
<p>alternatively you could just be an awesome trader a prop trading firm and make that kind of money when you are 25. however, there’s a reason most aren’t able to do that…</p>
<p>Open up a laundromat in a prime location and you can make 500k a year just standing around and folding clothes</p>
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<p>What about a strip club?</p>