Salary

Career Opportunities & Internships
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<p>People on this forum refering to IBanking say that salaries can be in the range of $60,000+. Is this paid on a yearly basis? or is that each month?</p>

<p>I'm from Venezuela and mainly here when speaking of salary they refer to a monthly basis. I was wondering if it is the same in the USA or if it changes to yearly.</p>

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<p>yearly.......</p>

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<p>Oh ok, I was guessing it refered to yearly. $60,000 a month is a crazy sum of money for an entry-level job.</p>

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<p>That's not all, either. Most get bonuses of 30k+, so you're looking at 90k annual income. However, keep in mind you're working more than twice the average work week (80-100 hours compared to the regular 40). And it's not a choice; you do your 80+ hours or you don't do ibanking at all.</p>

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<p>I also heard there was a bonus when you're recruited</p>

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<p>yeah there is usually a bonus of 10k when you sign on, but i hear most people use this to relocate, buy suits, etc.</p>

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<p>my classmate recently signed with lehman bros for ibanking. </p>

<p>his salary was 50k, plus 10k signing bonus, plus 5k relocation, if i remember correctly. end-of-the-year bonus was a potential 40k to 60k.</p>

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<p>and how do salaries increase over the years? <em>assuming that you haven't been laid off or had a nervous breakdown and quit</em></p>

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<p>Or actually nevermind the past question... </p>

<p>Do IBankers work at the office same weekday hours on weekends?</p>

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<p>Salaries in Investment Banking (with bonus)
Job Level Bulge Bracket Regional Player Prerequisite
(degree/yrs experience)
First Year Analyst $60K - 110K $30K - 70K Bachelor's
Third Year Analyst $80K - 200K $70K - 150K Bachelor's
First Year Associate $125K - 235K $70K - 150K MBA
Third Year Associate $150 - 450K $120 - 250K MBA
Assistant Vice President $200K - 600K $75K - 120K 2-4 years
Vice President $250K - 800K $100K - 400K 3-6 years
Associate Director $250K - 1MM $150K - 500K 3-8 years
Director / Principal $300K - 1.2MM $200K - 600K 5-10 years
Managing Director / Partner $400K - 20MM $200K and up 7-10 years
Department head $750K - 70MM $300K and up 10+ years</p>

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<p>FYI we are talking about HIGHLY competitive jobs (bulge bracket). You will need an excellent resume. Most don't make it past the first level or so. I agree with above that this is not a 40 hour a week job. Good luck.</p>