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Message
re: Jobs that you can realistically expect to earn $300k+ a year
Posted on 12/26/23 at 10:14 am to GeauxTigers123
Posted on 12/26/23 at 10:14 am to GeauxTigers123
quote:
How easy is it to do IB out of LSU? Is that really a target school?
Not easy but definitely doable.
LSU not really a target school for NYC-based jobs but definitely well represented in TX (more UT and A&M but still some LSU guys).
1
Posted on 12/26/23 at 10:31 am to KwoodTiger
Investment banking from a non-target school requires someone to be top of class. It’s simply not achievable for many even if they are open to the hellish workload.
And, you aren’t going to have many people stay in that industry. Pure money motivation.
ETA: Agree that it is definitely one of the fastest ways to $300K+ if someone can handle it.
And, you aren’t going to have many people stay in that industry. Pure money motivation.
ETA: Agree that it is definitely one of the fastest ways to $300K+ if someone can handle it.
This post was edited on 12/26/23 at 10:33 am
Posted on 12/26/23 at 11:10 am to lynxcat
quote:
Investment banking from a non-target school requires someone to be top of class
That’s what I mean when I say not easy but doable.
If someone can make 300k at 25 or 600k at 30, then it’s definitely not easy or else everyone would do it. OP’s original question threshold was 300k and I’m telling him there is a way to hit that at 25.
Having been in the industry for 20+ years, you do see attrition as people reach the VP and SVP levels, for a variety of reasons.
But, most generally leave for even better opportunities. Very few (as in none) leave for jobs with less responsibility and pay.
They simply love the work and the pay doesn’t hurt either.
This post was edited on 12/26/23 at 11:14 am
Posted on 12/26/23 at 11:53 am to KwoodTiger
PE or VC exits the norm even at VP+ levels?
Posted on 12/26/23 at 4:48 pm to Rick9Plus
quote:
Anyone know about HR salaries/outlook? My kid is a senior in HS and is thinking of going into human resources. With the younger generation, he is betting that companies will need to do a lot more hand-holding of employees. Plus he’s not really good with math or science but loves being the leader of school teams and clubs.
Absolutely not. Tell him to get far away from HR
Make no money and very easily laid off. Can be replaced by people on Craigslist.
Posted on 12/26/23 at 4:52 pm to KwoodTiger
quote:
Analysts 1-3 years out of school will make 150-300. Associates 4-6 years out of school will make 300-450. VPs out of school 6-9 years will make 450-600…still less than 30 years old.
CAP
Very, very, very few IB workers get a career track like this. What you described is more of a nepotism track. If this is your company's normal trajectory, please tell us where you work
quote:
Now, you’re going to have to work your arse off…especially early in your career. People say and hear 80-100 hrs a week but don’t do the math. That is working to 2-3am and getting back to office at 9:30am…every day…for several years.
But, it will get you there.
This is true. Miserable path to get to the top though
This post was edited on 12/26/23 at 4:55 pm
Posted on 12/26/23 at 8:31 pm to TheWalrus
quote:
HR is not a place for straight white males these days
Work in HR, but I have 20 years in operations before being asked to be in HR. It's absolutely nothing like you think. My generalist handles all the tactical stuff. Headcount and cost are all I deal with. I enjoy it immensely.
To the poster about 5 before this quote, don't think I would recommend it, unless you took some crazy career path like me. There are some HR certifications, but they are a complete joke. I passed on the first try, but had folks in my class (mostly female) who were on there 3rd & 4th try. It's a scam, and now I have to pay $$ to stay certified.
Also, don't make $300k, and never will, but enjoy the responses/Money Board. Country Club Community, and wife doesn't work.
Not gay, wife (fat, no pics) and son who loves football!
This post was edited on 12/26/23 at 8:50 pm
Posted on 12/26/23 at 11:23 pm to Carson123987
Why so many hours needed for IB?
Posted on 12/27/23 at 6:26 am to lynxcat
quote:
PE or VC exits the norm even at VP+ levels?
Both, both PE more common.
quote:
Very, very, very few IB workers get a career track like this. What you described is more of a nepotism track
Yeah, not true…20+ years in the business says otherwise.
quote:
Why so many hours needed for IB
Combination of reasons. MD job is to originate so team is constantly either pitching or executing, execution of deals can be extremely time consuming and tedious, and finally a little hazing to see if the kids really want to do the career.
This post was edited on 12/27/23 at 6:28 am
Posted on 12/27/23 at 7:50 am to KwoodTiger
Director level and above at just about any major company can clear this all in for most “critical” functions.
Problem is, even at 300, you’re getting your arse taxed so much and housing has gone up so much it’s really what everyone thinks is 150-200k.
Need to get to a half mil/year to really feel “different” from 6 figures these days.
Problem is, even at 300, you’re getting your arse taxed so much and housing has gone up so much it’s really what everyone thinks is 150-200k.
Need to get to a half mil/year to really feel “different” from 6 figures these days.
Posted on 12/27/23 at 7:54 am to lynxcat
Big Banks typically have a few “non target” analyst spots for kids out of school. Close friend made it out of Arkansas at UBS.
But you’re right, even top performers will sputter out once it’s time to jump to hedge funds and PE houses after 4-5 years. From there it’s name, nepotism and network.
But yea; can easily make 300k by 30. Even if you land at a mid market firm doing M&A, the equity alone from exits can earn someone way, way more than that.
But you’re right, even top performers will sputter out once it’s time to jump to hedge funds and PE houses after 4-5 years. From there it’s name, nepotism and network.
But yea; can easily make 300k by 30. Even if you land at a mid market firm doing M&A, the equity alone from exits can earn someone way, way more than that.
This post was edited on 12/27/23 at 9:42 am
Posted on 12/27/23 at 8:40 am to lynxcat
I’m a VP2 in IB, 5 years in. Also on our recruiting committee. IB is certainly one of the fastest ways to make $300k+, but you have to be a glutton for punishment, especially in the early years 
Posted on 12/27/23 at 1:25 pm to Azazello
Seems like yesterday you were finishing your MBA and getting started with the IB career…now a VP 
Posted on 12/27/23 at 1:42 pm to STLhog
quote:
Director level and above at just about any major company can clear this all in for most “critical” functions. Problem is, even at 300, you’re getting your arse taxed so much and housing has gone up so much it’s really what everyone thinks is 150-200k. Need to get to a half mil/year to really feel “different” from 6 figures these days.
The 35 and 37% brackets chews $500K up pretty quick. It sucks and not even 7 figure people should have to pay this much. It’s ridiculous.
Posted on 12/27/23 at 1:45 pm to lynxcat
quote:
Seems like yesterday you were finishing your MBA and getting started with the IB career…now a VP
Time sure does fly by.
Posted on 12/27/23 at 2:48 pm to XenScott
quote:
The 35 and 37% brackets chews $500K up pretty quick. It sucks and not even 7 figure people should have to pay this much. It’s ridiculous.
Just emphasizes need for utilizing all pre tax contributions. It also helps if it’s dual income versus single earner.
Max 401K is $48K
HSA is $3700
FSA for childcare is $5K
While only a dent, it does save at the marginal rate and helps blend the effective tax rate down into the high 20s.
Posted on 12/27/23 at 3:50 pm to lynxcat
Good, simple, valuable stuff right here.
Still super depressing that a half million dollars pretty firmly lands you in middle/upper middle class in most major cities these days.
No one is hurting by any means at that rate but 2-3 kids, a house big enough for them, a couple reasonable vacations/year and that money really isn't going that far towards "building wealth".
Crazy times.
Still super depressing that a half million dollars pretty firmly lands you in middle/upper middle class in most major cities these days.
No one is hurting by any means at that rate but 2-3 kids, a house big enough for them, a couple reasonable vacations/year and that money really isn't going that far towards "building wealth".
Crazy times.
This post was edited on 12/27/23 at 3:52 pm
Posted on 12/27/23 at 3:52 pm to lynxcat
quote:
Seems like yesterday you were finishing your MBA
Looks like he had to add a different shade of T to break through.
Good on him though.
Posted on 12/27/23 at 4:29 pm to lynxcat
quote:
While only a dent, it does save at the marginal rate and helps blend the effective tax rate down into the high 20s.
Yep.
Obviously the higher marginal rates hurt. They suck arse.
But at least you have to be pretty deep into them for cash comp before you are actually hit by them.
My taxable income is over 100k lower than my actual gross and lower still from my total cash comp.
Still sucks tho.
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