re: How do you feel about young NY investment bankers being worked 80-100 weeks?

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People who say shite like this are lower class. $160k for a single kid under 35 in New York can go a long way.

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$160k a year pre tax in one of the most expensive cities on the planet isn’t shite.

How old are you?

Some of you people need a reality check this country was sold out by the left and the right to pad their pockets and the American dream is dead and buried.

$160k a year is like …. $120,000 after tax MAYBE.

That’s $10,000 a month.

$3,000 in RENT.

$7,000.

401k and Roth max give or take.

$5,500.

A little bit more extra savings like crypto or brokerage or emergency savings or house fund or whatever.

$4,000.

Maybe debt payments. Utilities. Cell phone bill. Internet. Cable. Groceries. Transportation.

$2,500.

Congratulations. At the end of the month you have BARELY contributed to savings. Are wasting money towards rent and not a property owner. No car. AND you have $2500 of fun money per month to eat and drink at some of the most expensive places in the country.

You people are DELUSIONAL.

That is BARELY comfortable. In fact I would argue that is toeing the line between comfortable and uncomfortable.

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online shopping and nice vehicles chip away at it.

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Why would you need a nice car in NYC?

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these guys are getting paid ~160k out of

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Starting salary for an IB Associate at BofA was $175k. He got a signing bonus of ~$50k and normal stub bonus is ~$50.. But I think BofA might have been like $20k this year. After 18 months you get your first real bonus which is normally 0.8 - 1.0x base and you get a salary bumps to $200k. However, know BofA and the rest of the street underperformed so numbers varied greatly.


The idea that he is living off ~$160k is kinda flawed due to stub and signing bonus.. Also tons of little perks like, he probably didnt pay for a single dinner.

As for the hours and culture - the hours suck and you can't explain it until your in the seat. A summer internship doesn't do it justice. The culture depends bank to bank and group to group but nobody is going to feel sorry for someone who is working alot except for their peers.. Many of the higher ups are literally robots.

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How do you feel about young NY investment bankers being worked 80-100 weeks?

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Chasing money isn’t something I feel sorry for. That’s what they want. I look at it the same as a guy who chases the shut downs working 7 12s on the road then cry’s his wife left him or his kids hate him. Going out to make a living is one thing. Chasing the big payday to pay for a lifestyle is another.