Cause you know those Junior bankers are making so much more then hedgefund managers and the likes.

thomps: xanadian: FTFA: Younger bankers, who typically comprise about 75 percent of the investment-banking workforce of the biggest Wall Street firms, often start with a $200,000 annual salary and can expect $240,000 or $250,000 in the second year, said two senior bankers.

Holy crap, that's a lot of money for just a paper-pushing job...

not defending the salaries, but jr bankers work their asses off.

They work their asses off and generally their efforts bring more value to the firm than the salaries they receive. Why shouldn't they get paid that much?

Subby's right, actually. I can't keep American Psycho in stock.

The Amazon sales rank has improved from over 20k down to about 3500 today.

Debeo Summa Credo: thomps: xanadian: FTFA: Younger bankers, who typically comprise about 75 percent of the investment-banking workforce of the biggest Wall Street firms, often start with a $200,000 annual salary and can expect $240,000 or $250,000 in the second year, said two senior bankers.

Holy crap, that's a lot of money for just a paper-pushing job...

not defending the salaries, but jr bankers work their asses off.

They work their asses off and generally their efforts bring more value to the firm than the salaries they receive. Why shouldn't they get paid that much?

Yeah it's a young and single person's game, that. In the office until 3AM working on some nonsense pitch angle that was thrown at you around 4:30 PM, after you sat on your hands since lunch waiting for the senior guys to formulate a strategy. It's a tough process to convince C level people to do something they really shouldn't do, and to borrow money from you in order to do it.

xanadian: FTFA: Younger bankers, who typically comprise about 75 percent of the investment-banking workforce of the biggest Wall Street firms, often start with a $200,000 annual salary and can expect $240,000 or $250,000 in the second year, said two senior bankers.

Holy crap, that's a lot of money for just a paper-pushing job...

Base comp is typically 100-125k the rest is bonus but for that you spend 80-100 hrs at work in a normal week.

Debeo Summa Credo: They work their asses off and generally their efforts bring more value to the firm than the salaries they receive. Why shouldn't they get paid that much?

Because they're bankers. You know, monsters who exploit the poor while earning a huge, though undeserved, wage for doing so. They'll be the first ones against the wall come the revolution.

They really have to return some videos.

Look at that subtle off-white coloring.

The tasteful thickness of it.

Oh, my God. It even has a watermark.

jjorsett: You know, monsters who exploit the poor while earning a huge, though undeserved, wage for doing so.

It's not their money they're risking, even though they're rewarded like it is. This is the problem most people have with the whole deal. Tweaking the fractional reserve percentages would end the problems in a jiffy.

jjorsett: Debeo Summa Credo: They work their asses off and generally their efforts bring more value to the firm than the salaries they receive. Why shouldn't they get paid that much?

Because they're bankers. You know, monsters who exploit the poor while earning a huge, though undeserved, wage for doing so. They'll be the first ones against the wall come the revolution.

Yeah, yeah, yeah. I'm sure they're trembling, ITG.

Came for businesscard.jpg

leaving without an extravagant bonus

xanadian: Oh, ok, so a "junior banker" is essentially someone who sells securities, etc to other people and organizations? So, a salesman, essentially.

No. They're not stock brokers. The senior bankers are salesmen, and they don't sell securities, they sell "industry expertise" and financial services. They underwrite IPOs, finance mergers and in some cases instigate them...etc.

The junior bankers put together the collateral: pitch books, financial models etc. Like what Harold from Harold and Kumar had to do before he could go out for White Castle.

my god... egg white.. and look at that embossing..

Screw 'em. They wouldn't know a hard days work if it slapped 'em in the face. Bet they've never worked till every muscle-fiber in their body is sore .... then go have to muck stalls.

I say freeze the pay of everyone at banks till they get their shiat straightened out.

Notice that it is the JUNIOR bankers (ie the ones doing the work) getting the pay freeze? The dicks in charge are still getting raises.

1. IB analysts and associates dont make that much, even with bonuses. High comp plus salary averages out around 125-140K, and that's if your group is number 1 at the firm.

2. Can you make spreadsheets and graphs in Excel and presentations in Powerpoint? Then you can be an investment banker.

3. 80 hours/week would be a gift, 100 hours is definitely closer to the norm.

5. Not every banker becomes a zillionaire. Just like at any other company in any other industry, only the guys at the top are.

6. Not every banker wants to become a corporate raider like Gordon Gekko. So let's all stop pretending they're nothin but amoral, greedy capitalists.

4. The money almost isn't worth it. When you have zero social life or time for relationships, there's no point in the money if you can even have fun with it.

/Was an IB analyst for 2 years.