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

quote:

---

these guys are getting paid ~160k out of

---

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.