<p>So, I see that there’s alot of interest in Wharton here on CC, and having spoken to/am friends with people who go there and graduated from there, what do you guys plan on doing after 4 years at Wharton? </p>
<p>Most of the people I know of choose to pursue a lucrative offer from one of the top firms in the financial industry (Sachs, CSFB, M.Stanley, etc.) working 90 hour weeks (answers to what days do you get off: “weekends, sometimes [Sachs]” and, “only sundays.[M. Stanley]”). The hours are usually around 9 am to midnight, every day. You make about $120K per annum, with a base of about $75K and a bonus of about $45K. </p>
<p>Is this something that people applying to Wharton see as appealing? Slaving away 15 hours a a day at a faceless terminal as an “analyst” for a 6 figure salary when you’re 22? Is it worth it? In spite of my rhetoric, I’m undecided. </p>
<p>I think it’s interesting that alot of people here focus alot on getting into Wharton, but there’s very little to no talk about what that entails four years down the road, especially on a more philosophical level…</p>
<p>Well, we all have to start somewhere, right? Although I read somewhere that a 120k starting salary is approx. average for Wharton students, it's still nothing to sneez at. Unless you choose another line of work, that's what you have to put up with in the beginning.</p>
<p>Does it appeal to me? Yes. I enjoy working, and if I have too much time off, I begin to feel that I'm not being productive enough with my time. (However, with school, I like to have as much time off as possible. :D)</p>
<p>It's better to work like a dog at age 22 when you don't have a marriage/kids holding you back.</p>
<p>this is a good topic. i don't plan on being an investment banker or working at those firms, however, i hope that my wharton degree would allow me to get a job in the entertainment industry...maybe being a manager or soemthing, working a few years, and then get my MBA IF absolutely necessary</p>
<p>mahras, just because you're too weak to handle it doesn't mean everyone else is as well. As long as I get enough sleep, I'm fine. We're just too spoiled by society. I don't need to have my evening, weekend, etc. off at age 22.</p>
<p>Umm buddy...how will you get your sleep. There is 168 hours in a week. If you worked for 100 hours you have 68 hours left. Factor in travelling (you will end up travelling quite a bit), eating, etc and you end up with a very minute amount. BTW the work itself isn't that mentally stimulating that you will be jumping up and down. Your thought about society is cute.</p>
<p>Maybe some folks exist, but every single entry level (analyst+associate) banker I have talked to or have met haven't made a good case why they have the job...other than of course the cash. </p>
<p>Work smart not hard. </p>
<p>[BTW my last week was a 100 hour week...I am getting prepared to launch a major product for my business as well as figuring out another line of research. So yes, I have a very good feeling that I know what I am talking about.]</p>
<p>Not attacking you personally, just understanding your thinking as I was/am dead tired and have been sleeping like a log for the last couple of days.</p>
<p>Ahh, ok. Now you've changed the story. You have to add all the traveling time ON TOP of that 100 hrs. Nope, uncle works for Barclays Capital. New employees don't get to enjoy the glitz 'n' glam (i.e. travel).</p>
<p>100/7~14=plenty of time to sleep</p>
<p>mahras, don't worry, I'm not taking it as an attack. Actually a stimulating topic on CC; beautiful variation from the usual "how are my chances."</p>
<p>50K is NOT the average salary that i've seen before. maybe i'm wrong, but in the past i've thought it was ~80-90K. Obviously not every Wharton grad becomes an ibanking drone, or a even a high-paid ibanking drone for that matter, but the point is that alot DO, or at least aspire to.</p>
<p>also, very few entry-level analysts travel around regularly. It's common for firms like CSFB to fly junior analysts to London (which I believe is where they do their training, not Zurich) for a couple weeks, but once on the job in NYC or Boston or whatever it's pretty rare for firms to have junior analysts do any traveling. In fact, most of the people I know work AND live in NYC, so there isn't much travel time involved.</p>
<p>Ibanking average salary: 56K. In finance as you move up bonuses constitutes much of your compensation package. </p>
<p>I am talking about on the job not training. Say you are raising capital for a particular company, you will travel to various investors soliciting for cash. You may also need to do a due diligence on a company aka check out its operations which will entail traveling. </p>
<p>Monkey Business is actually pretty accurate in this regard (several of the analysts/associates I have come in contact with travel very frequently).</p>