<p>what is a realistic salary expectation of a first year analysist fresh out of a business school (say, stern with a management major)?</p>
<p>PS: hows the working condition (hours, etc)??</p>
<p>thanks for the responses!</p>
<p>By analyst, do you mean financial analyst, I-banking analyst, or strictly mgmt consulting analyst? And where would this job be at? (since jobs in New York pay significantly more than jobs in Omaha or Kansas City).</p>
<p>Generally, if coming out of Stern undergrad working as a financial analyst in New York, expect $55K-65K, more for I-banking (same salary, but $5K signon and $25K bonus), mgmt consulting (half way between the first two). At MBA level add $20 to 30K extra with only 1 or 2 years extra experience, $30 to $40K with 5 or more years experience. If grades are good and experience is 5 years plus, expect $100K plus. If you have venture capital experience at a top flight place, or you've already been promoted at least once, add another $15 to 25K minimum.</p>
<p>Oh, and all of this is really general, and the salary will be less in other cities--though not so much less in LA, SF, or Chicago, but quite a bit less where the living costs are much lower (Little Rock, Jacksonville, St. Louis). (also it depends on the firm, and how much business is in your particular city--and if you travel to do assignments).</p>
<p>Oh, and someone on another thread posted the I-banking levels--which go up much faster if you can handle the long hours and don't get fired (which happens a lot, I guess). Apparently, if you make VP after a few years, the salaries are in the $500K to $900K level with large bonuses as well.</p>
<p>Once you make VP, the hours you put in on average per week about the same as you started?</p>
<p>My cousin just now got promoted to VP's post at Goldman Sachs - and he's just 27. Still, he works from 8:30 to 20:30 on weekdays, and in the afternoon for about 4-5 hours on each day of the weekend. Basically, be prepared for an 80 hr/wk job at VP level, however, it might reduce as years pass (maybe down to 60 hrs/wk after 3 years) as my cousin expects.</p>
<p>When he was an analyst, just 4 and 5 years back, he was working a little over 100 hrs/wk. When he became an Associate, he worked a little less - about 90 hrs, and now, its down by a further 10 hours.</p>
<p>But yeah, don't get your hopes high getting to be VP by your late twenties. You first have to make sure you don't get the pink slip by the end of the first or second year of being an analyst. You really gotta be the cream of crop to get there ;)</p>
<p>Haha, no suprise there. I remember reading about your bro. Quite the talented one. Thanks for the info.</p>
<p>27? So....if he graduated at 22, 2 yrs analyst, 2 yrs business school, 1 year associate and then VP? That's.....uhh...really fast?</p>
<p>
[quote]
27? So....if he graduated at 22, 2 yrs analyst, 2 yrs business school, 1 year associate and then VP? That's.....uhh...really fast?
[/quote]
</p>
<p>I'm pretty sure Ashok Varadhan of Goldman Sachs made MD at 26.
you don't have to get an MBA if you're a really strong performer.</p>
<p>graduated at 21, started as an analyst at 21 and 22. Started B-school maybe finished b-school a semester early so 24, 25, 26 an assoc., and 27 became a VP. Still rapidly quick.</p>
<p>you don't have to get an MBA if you're a really strong performer, but by 'really strong performer' like that MD guy @ 26 you must be like....The Top Graduate out of Wharton with really good connections x_x</p>
<p>My cousin hasnt even done an MBA. He graduated from MIT with a double major in Econ and CompEngg back in 2001. Was 2 years as an analyst, and nearly 3 years as an associate. Other things did work to his benefit,however, like he broke the record for the highest score on the CFAs. He also got an offer from HBS after maxing an 800 in GMAT and Goldman asked him to work as a year as VP and then go for ExecMBA. I think after you get the job, 99% depends on how you fare in it.</p>
<p>dizzam 800 on the Gmat</p>
<p>
[quote]
you don't have to get an MBA if you're a really strong performer, but by 'really strong performer' like that MD guy @ 26 you must be like....The Top Graduate out of Wharton with really good connections x_x
[/quote]
</p>
<p>Naw, pretty sure he came from Duke, an Econ and Math major. </p>
<p>
[quote]
Considered one of the best young traders on Wall Street, as well as a likely candidate to be among the next crop of Goldman pros bolting for a hedge fund, Varadhan heads up North American interest-rate products, reporting to Philippe Khuong-Huu. The numbers gene runs in the family: Varadhans father, Srinivasa, is an eminent mathematics professor at New York University.
Estimated income: $20$25 million
[/quote]
</p>
<p>he's not doing typical banking, if you're doing trading and you perform extremely well it'll speak for itself. Not something that connections will really help you with. Plus there's an incentive to keep strong traders on board so they don't move to a hedge fund.</p>
<p>when you guys say top performer in ibanking, what exactly does that mean?</p>
<p>I'm curious.</p>
<p>in the case of Ashok Varadhan, he was trading. Trading compensation is based off of performance. If you trade really well and are consistently making profits, you are performing well. If you're doing that in trading, making crazy profits, you can expect to be promoted faster/get fat bonuses.</p>
<p>okay, so what would the case be for ibanking?</p>
<p>well, I know specifically for the summer internship between jr and sr year that some people like to work extremely hard, as in working extreme hours(like the girl who pulled 140 hours one week at lazard), and never taking the vacation offered to them during the internship. That way you show that they like the firm, are a hard worker, and would love to work there full time.</p>
<p>I'd imagine promotions would work similar (work longer hours than your peers and do exceptional work) but office politics would come into the mix as well.</p>
<p>Which part of investment banking isn't based off performance? More like "grunt work" I guess you could say instead of taking heavy risks (like trading).</p>
<p>I still don't understand what grunt work is. Is it making presentations to CEOs? Making data sheets? what are people doing for 100+ hours a week?</p>
<p>making pitch books doing excel ****. </p>
<p>read monkey business, they explain what you do on a day to day basis.</p>