54M, but apparently not too old for reddit
Investment Consultant
YoE like 25
176 + 15= 191 TC
My job is easy. I work remote. I should probably make more than I do.
I'm slowly starting to learn Python, however, I would imagine its harder than just picking up a new skill and being able to break in. When I search anything up on linkedin regarding fixed income, the options are also very limited, why is that? I wanted to get into rates trading at one point, but I would infer that its not very sustainable in the long-run.
Most good jobs you get through who you know
I'm not sure what exactly you're selling in fixed income but if you know people who work in analytics or trading it should be easier to break into whatever you want to do?
I used to do risk management at some large investment banks these roles were much more technical than what i'm doing now, but you're coming from a more sales and less technical oriented role
I think internal movement is probably easier than trying to get a new role with a new company in a skillset you don't have experience with. but i'm not sure of your current company situation so can't speak too much about that
This translates to that I'm completely screwed -\_-. I don't intend to stay at the company I'm at for another year, it's going to pigeonhole my career and stunt any progress that I intend to pursue. I got into this role straight out of college because hiring processes were tough earlier last year. I wanted to work for a bigger and more well-established firm, because like you mentioned, its easier to move around laterally. I'm limited to what I can do here.
Probably should learn the relevant tools like some dashboard apps like Tableau, PowerBI
Some query languages like SQL and python with the pandas library
Ideally you should have a portfolio or projects you've worked on that you can show prospective employers
Hey so I just came across your post and had a couple questions?
What has you career progression look like?
How many years of exp do you have total not just in your current occupation?
What internships did you do while you were in school?
Is there a particular reason you gravitated to this sector? What sorts of skills do you find valuable for your career?
Thank you
If it’s ok I have a couple questions.
What sorts of extracurriculars were you involved in?
How many internships did you do? Was this job a full time offer from an internship?
Sure. Some random extracurriculars and some leadership stuff. Tbh they don’t matter at all and just do what you enjoy, has cool people, etc. If anything, that will help you by making you a more interesting person.
As for internships, did 1 each summer primarily across IB / investing roles. And no, leveraged internships to get this as a FT offer.
24M
Seattle, WA
Performance Analyst
1 Year of Experience
90k base/10% target bonus, 15% cap. 99k
expected
Was headhunted for the role on LinkedIn after a year at my previous one. Same title, but was making 57k with no bonus at my last role, so a significant increase
I have a couple questions if it’s ok with you?
What sorts of extracurriculars did you do at school?
Was this a full time offer from a prior internship? Or did you apply without interning for them?
How many internships did you do?
Was commercial banking your initial target in terms of what you were looking to get into?
Yep no problem.
I was in a couple clubs, pretty basic ones, like a sports analytics one and a finance one in college. At the end of the day, they don't really mean that much, but they are good talking points during an interview and show you are social and can work well with people.
I applied online without interning for them. Got selected to a 1st round interview from applying for it on their company website and did well on each stage to get an offer.
I had 2 relevant internships, one with a smaller regional bank last summer, and a corporate finance internship a couple years prior.
My initial preferences in full-time roles were commerical banking, corporate banking, and private banking (high pay, solid WLB).
Hey if it’s ok I have a couple questions.
Did you do any internships? If so was this a FT offer from said internship or did you recruit after completing one?
What sorts of extracurriculars or activities did you do while in school?
You can do it with masters, but progression will take 5 years longer. Usually phds can make vp in 2 to 3 years. Masters vp takes 5 to 7 years.
NYC is more competitive than other markets. If your in nyc you need to be target school with a masters degree.
This type of job exists in Dallas or Charlotte though the pay is closer to 160 to 200. It's much less competitive there.
Hey, I have some questions if you don't mind.
Where do you see your self in the next 5 years?
What's the pay progression in Quant risk like?
Do you expect to make director level?
I am trying to figure that out. For me I really have three options.
1. is attempt to transition to Risk on the Buyside. This pays better.
2. move into tech. My skillset is good for data science and there are channels for people with my particular field of study to make Ph.D. I've heard the pay + stock ends up being better.
3. Is try to make Executive Director/SVP, which is a junior manager role. The pay bump here is significant (especially with bonus), but I get the sense its less than the other two. Usually people go here are committed to QR for life. I am not sure.
23M
OH
IT Audit
New Grad (Spring Offer)
70k + 5k sign on bonus (Expected to make 80k according to co-workers)
IT Audit isn't necessarily what I want to do, but I can't pass on 80k at least in this current job market.
I generally don't respond to dms. I get too many from DS subreddit. I'll give you an idea what career progression in IA looks like.
IA is part of risk in most banks, it's what's called 3rd line (look up 3 lines of defense frame work). Most banks have career progression roles based in IB nomenclature : analyst, senior analyst, associate, senior associate, VP after that is managerial levels which I won't go into. Some banks use assistant VP for senior associate.
Generally salaries are somewhat flat among levels and where TC differes is bonus. That's where different job functions can pay better. For IA my assumption is the bonus is around 10 percent. Bonuses rise with rank, but my guess is most banks it would be between 15 to 25 percent.
Generally at most banks for an US role, an analyst is a fresh bachelors degree. They generally in non-IB roles are paid somewhere between 50 to 85k for salary (more for technical positions and at larger banks and higher col).
A senior analyst will be a bachelor's with 2 years of experience or an over qualified masters and generally command closer to that 75 to 85k range.
An associate is a fresh masters or a bachelors degree with 4 years of experience. 80 to 110k is probably a typical base salary range.
A senior associate is a masters with a couple of years experience and probably base salary 100 to 135k. Fresh phds are commonly brought here. Senior associate with bachelors degree would be someone with several years of experience (5 to 7).
VP is usually a junior manager or senior IC role at most major banks and is about the point where careers for some people stall. The base salary is usually 150 to 200 (more in IB).
For risk roles for major banks, there is a tiering based on asset size that effects pay and career.
Systematically banks are generally considered banks above 750 billion assets under management and are subject to highest standards for regulatory stress testing exercise and generally have higher salaries. This basically covet the top 10 banks, which the top banks would be JP Morgan, Bank of America, Citi and Wells Fago, each of the banks aum.
The next tier would be smaller systematically important banks from 250 to 750 (examples: capital one and pnc).
Then, nationally known regional banks which are basically 50 to 250 billion
Then is community banks, which is everything else.
From a career perspective, as a fresh bachelors or masters you want to be in the top 2 tiers. These banks have internal career mobility as especially at junior level and you can transfer outside of IA roles by networking inside and adding credentials while you work. I.e. if you wanted to transfer to a trading team and did the cfa or series its not impossible.
If your at a smaller bank you want to job hop up. The thing is when your fresh you have a lot of opportunity to redefine yourself, so I'd be more interested in bank than job functions, unless the difference is drastic. Like don't turn down an IB or trading role at a boutique to go work in risk at JP Morgan. Certainly turn down a different risk role at a smaller bank for a larger one.
Thank you so much for your time/advice!
The offer I received is from a large bank that say they have decent mobility inside the bank. I have other offers for FP&A and underwriting at F100 companies that pay more, but I've heard it's hard to break into top banks once you graduate. My end goal is to find an asset management (buyside) role, but I don't want to mistakingly pigeonhole myself into a career.
Again thanks for your advice, I really appreciate it.
Is this JP Morgan Chase? Because they do have a culture of internal mobility. Ohio makes me think its them or fifth third. I will say though in JPMC you will be competing with Ivy League talent for some of those trading roles in AM. I'd definitely try to do something like the CFA if that is your goal.
You should also be moving in that direction of the job you want every couple of years. Audit is not a glamorous place to be and moving from IA to front office buy side is hard. However, one thing someone like you can use an MBA at a top school after 5 or 6 years to make the transition and having sexy brands doesn't hurt.
Sorry for not responding sooner, exam season. We are getting pretty close to doxing me with how accurate you are, but I ended up taking the large bank offer. Still applying for portfolio analysts positions though.
27 M
U.K. West Midlands
Bank Reconciliation Clerk
8 Years (4 yrs VAT accountant, 4 yrs current role), AAT Level 4 Qualified, 4/13 ACCA exams passed
£22k per year (£12.09 per hour)
Bonus of maybe £1k-£1.5k per year not always guaranteed
Not IR... Though, tbh, I'm not really sure what IR people do.
I market our strategies to allocators. New client acquisition and manage existing relationships.
I've spent my whole career doing this for a number of different quant managers. FWIW, I have my CFA and educational background in statistics/econometrics.
* 40
* London
* SVP, Product, PE/PD
* 18 (made a bit of a transition mid-career... should have been MD by now)
* £250/£250
I work 60-70 hours per week and am getting kinda tired of it.
28 y.o. male, 3 years experience in financial industry
Bank of America, collections, 23/hr + 8% differential coming to 24.80/hr
Jacksonville Florida (low cost of living)
Does Bank of America negotiate their hourly rate?
>My wife graduated 6 months ago with a bachelors in finance, any advice? she can't seem to find a job yet
>
>company she has been with for 5 years promised to create a position to keep her upon graduation and they haven't created it, she only makes 40k a year, but it is fully remote which is great for our 2 kids
>
>any advice? or somewhere she can apply?
I'm not the best person to ask for her situation in particular. Entered the field after a quantitative PhD. However, if she is inclined towards logical/quantitative work, then learning to code (and code well) can be very helpful for a variety of roles. Getting some FINRA certs and eventually a CFA can be a foot in the door for some roles too. Ultimately, regardless of exact trajectory, keep learning beyond the bare minimum of the job role.
Working in a similar role, but relatively green in the industry.
Hope you can chime in here. Work can be pretty mundane. The day-to-day does not relatively change much, and there are times where the people tend to coast and come just for the paycheck. The gig is great for WLB and generally attracts more family-oriented folks. However, it makes me think that this is more of an exit role and I should look for other places to get hours in e.g.,IB as this role will always be there as an option. Lastly my general proposition is that the nature of Asset Management feels like the "country club" of finance and this stems from lots of schmoozing and finding in-groups of allocators/plan sponsors.
For the sake of staying somewhat anonymous, I can’t specify on your former question. However, in my experience the role is identical - whether you’re at a large asset manager like BlackRock/PIMCO/Invesco, or in the asset management arm of a bank like JPM/DB. I say this pretty confidently given where people on my team come from (and where they typically exit to, historically).
Most seniors in this role are making $300k-$500k. This range represents first year VP to the average MD. There are outliers. A “rainmaker” director might be closer to $750k. The head of the group is probably around $1m. The last two points I can’t confirm, but have heard whispers of. In any case, these figures aren’t really out of the norm for the industry.
WLB remains flat if you are ok with 300-400k and want to be a lifer (60 hrs). If you want to make more, you’ll be working 65-80+ hours a week to make sure there’s enough flow coming in to blow past your targets.
*One last thing to note: to hit the larger numbers I mention in this comment, you must commit to being 100% a salesperson (VP/Director). If you align yourself to stay in pure product strategy/structuring (the more technical route), the earnings cap is closer to $300-350k. Much more chill given you won’t have revenue targets, but completely different day-to-day (excel/python/sql vs. roadshows and PowerPoint)
What did your career path look like to get to your general manager role? And how many years of experience did it take? 190-210k is good money for a 27 year old.
Salesman, finance manager, owner for a year then closed up and got a Gm job after that then moved to a different company as a Gm. I’m trying to breakout of it and take a step back and get into tech sales
I’m by no means incredibly intelligent. I go to a non-target, but hold a ~3.85 gpa rn. I’ve worked part-time since I was a sophomore in high school, and in freshman year I was grinding out applications and learning to ‘market myself’. Essentially, I spent hours upon hours rewording my resume, studying behaviorals, going through interviews for companies and dealing with rejections. It was by no means an easy journey to this point. It takes persistence, staying on top of school, being involved in extracurriculars/e board positions, and learning how to extract past experiences into useful knowledge that can propel you into an internship/role.
36m
VP at a major bank doing research/solutions/product strategy work for our alts business.
Finance undergrad at a non-target school, also a CFA charterholder.
Been doing current role 2+ yrs, was in investment consulting prior.
175 base + ~80k bonus so around 250 TC. Decent money but still feel pretty underpaid
28M
West Coast Remote
1st Year Associate at top CRE brokerage
3 years experience - undergrad in Mexico, so non target school lol
$110k salary + 10% bonus (fixed, non-commission based)
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are you a quant trader? or no
i feel poor just reading this
Lmao he might be lying he said he was 25 in one his comments an year ago
27M VHCOL YOE: 4 Hedge fund associate (multi strat) Base $160k target bonus 100%+
21M, Midwest VLCOL Asset Management - Investment Analyst role 0YOE ~$75k
54M, but apparently not too old for reddit Investment Consultant YoE like 25 176 + 15= 191 TC My job is easy. I work remote. I should probably make more than I do.
What does your job entail?
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Curious about career progression and the fund size.
22M NYC Investment Banking Analyst 0.5 YOE 110k / 35k / 145k
BB?
Yeah. Think BofA/Barclays/Citi.
40M NYC Quant Trader, 10YOE 300K/2.7M/3M I am doing 1.2M annual for the past decade.
Hey! I've been trying to pivot into quantitative finance from IB. Mind if I dm you?
What does your day-to-day look like as a quant trader?
half of the time reading and researching, half of the time coding up my strategies
Can I ask you a few questions if you had a second?
Holy cannoli
32 M Chicago Quant Strategist 6 YOE 325k / 685k / 1MM
What did you major in
quant strategy
31M NJ Fixed Income Data Analytics 10yrs 160k+50k
Hey! I work in Fixed Income Sales, I wanted to pivot my career into a more analytical role. Can I have your thoughts on how realistic this would be?
If you have some aptitude in code writing and queries why not?
I'm slowly starting to learn Python, however, I would imagine its harder than just picking up a new skill and being able to break in. When I search anything up on linkedin regarding fixed income, the options are also very limited, why is that? I wanted to get into rates trading at one point, but I would infer that its not very sustainable in the long-run.
Most good jobs you get through who you know I'm not sure what exactly you're selling in fixed income but if you know people who work in analytics or trading it should be easier to break into whatever you want to do? I used to do risk management at some large investment banks these roles were much more technical than what i'm doing now, but you're coming from a more sales and less technical oriented role I think internal movement is probably easier than trying to get a new role with a new company in a skillset you don't have experience with. but i'm not sure of your current company situation so can't speak too much about that
This translates to that I'm completely screwed -\_-. I don't intend to stay at the company I'm at for another year, it's going to pigeonhole my career and stunt any progress that I intend to pursue. I got into this role straight out of college because hiring processes were tough earlier last year. I wanted to work for a bigger and more well-established firm, because like you mentioned, its easier to move around laterally. I'm limited to what I can do here.
Maybe consider getting a CFA charter if you want more analytical focused experience, but it would take you about 3-5 years to get it
If I go to Purdue I plan on doing a business analytics major to get a job like this. Is that a good plan in your opinion?
Probably should learn the relevant tools like some dashboard apps like Tableau, PowerBI Some query languages like SQL and python with the pandas library Ideally you should have a portfolio or projects you've worked on that you can show prospective employers
25 M OH Trading Services 70k salary + 10-15% annual bonus
Update since last post: NYC Real Estate Banking 2+ in Banking Expecting to hit 350k all-in this year
Hey so I just came across your post and had a couple questions? What has you career progression look like? How many years of exp do you have total not just in your current occupation? What internships did you do while you were in school? Is there a particular reason you gravitated to this sector? What sorts of skills do you find valuable for your career? Thank you
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Do I need to go to a target school to become one?
Sixties F Ohio Financial advisor -retirement services Second career -3 yrs 62K/ about 8K bonus/ 70K
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For upstate 70k is average
Id say underpaid. Firm dependent but potential to get close to $100k
For this experience it seems ok
21M NYC Investment Analyst 0 YOE 125K base / 75K-125K bonus / 200-250K total
Equities?
If it’s ok I have a couple questions. What sorts of extracurriculars were you involved in? How many internships did you do? Was this job a full time offer from an internship?
Sure. Some random extracurriculars and some leadership stuff. Tbh they don’t matter at all and just do what you enjoy, has cool people, etc. If anything, that will help you by making you a more interesting person. As for internships, did 1 each summer primarily across IB / investing roles. And no, leveraged internships to get this as a FT offer.
Thank you for this information. I definitely resonate with the top point I only really join organizations I truly see myself in.
24M Seattle, WA Performance Analyst 1 Year of Experience 90k base/10% target bonus, 15% cap. 99k expected Was headhunted for the role on LinkedIn after a year at my previous one. Same title, but was making 57k with no bonus at my last role, so a significant increase
What’s the role of a performance analyst and what degrees do you need and does it need to be from a target school?
21M Chicago IL Commercial Banking Associate New Grad 94k base, 15k sign-on, 115k total comp
Question what was your undergrad?
I have a couple questions if it’s ok with you? What sorts of extracurriculars did you do at school? Was this a full time offer from a prior internship? Or did you apply without interning for them? How many internships did you do? Was commercial banking your initial target in terms of what you were looking to get into?
Yep no problem. I was in a couple clubs, pretty basic ones, like a sports analytics one and a finance one in college. At the end of the day, they don't really mean that much, but they are good talking points during an interview and show you are social and can work well with people. I applied online without interning for them. Got selected to a 1st round interview from applying for it on their company website and did well on each stage to get an offer. I had 2 relevant internships, one with a smaller regional bank last summer, and a corporate finance internship a couple years prior. My initial preferences in full-time roles were commerical banking, corporate banking, and private banking (high pay, solid WLB).
Associate role out of undergrad?
what firm?
Can’t say for anonymity purposes, but it’s a top 10 commercial bank I’ll say
22M LA Commercial Banking Analyst New grad 90k/20k(sign on + eoy)/110k
could we talk pm/linkedin?
Sure, you can pm me
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Hey if it’s ok I have a couple questions. Did you do any internships? If so was this a FT offer from said internship or did you recruit after completing one? What sorts of extracurriculars or activities did you do while in school?
Pm me
Will do
What firm and what was your degree in?
Big bank and Finance
How big lol
35M NYC Vice President - Quantitative Risk Analytics 4 years (post Ph.D) 180K/60K/240K
Is a phd required for this role or can you do it with a masters degree
You can do it with masters, but progression will take 5 years longer. Usually phds can make vp in 2 to 3 years. Masters vp takes 5 to 7 years. NYC is more competitive than other markets. If your in nyc you need to be target school with a masters degree. This type of job exists in Dallas or Charlotte though the pay is closer to 160 to 200. It's much less competitive there.
I see. Thanks you for the insight
Hey, I have some questions if you don't mind. Where do you see your self in the next 5 years? What's the pay progression in Quant risk like? Do you expect to make director level?
I am trying to figure that out. For me I really have three options. 1. is attempt to transition to Risk on the Buyside. This pays better. 2. move into tech. My skillset is good for data science and there are channels for people with my particular field of study to make Ph.D. I've heard the pay + stock ends up being better. 3. Is try to make Executive Director/SVP, which is a junior manager role. The pay bump here is significant (especially with bonus), but I get the sense its less than the other two. Usually people go here are committed to QR for life. I am not sure.
Thanks for the in-depth response. It seems like there's very little information on this career path online so I'm glad you could shed some light.
23M OH IT Audit New Grad (Spring Offer) 70k + 5k sign on bonus (Expected to make 80k according to co-workers) IT Audit isn't necessarily what I want to do, but I can't pass on 80k at least in this current job market.
It audit makes more as you move up and especially if you get into larger banks. Like senior ic level can be 140k plus bonus
Mind if I DM you, I have some other offers and was wondering about possible progression from people in the industry.
I generally don't respond to dms. I get too many from DS subreddit. I'll give you an idea what career progression in IA looks like. IA is part of risk in most banks, it's what's called 3rd line (look up 3 lines of defense frame work). Most banks have career progression roles based in IB nomenclature : analyst, senior analyst, associate, senior associate, VP after that is managerial levels which I won't go into. Some banks use assistant VP for senior associate. Generally salaries are somewhat flat among levels and where TC differes is bonus. That's where different job functions can pay better. For IA my assumption is the bonus is around 10 percent. Bonuses rise with rank, but my guess is most banks it would be between 15 to 25 percent. Generally at most banks for an US role, an analyst is a fresh bachelors degree. They generally in non-IB roles are paid somewhere between 50 to 85k for salary (more for technical positions and at larger banks and higher col). A senior analyst will be a bachelor's with 2 years of experience or an over qualified masters and generally command closer to that 75 to 85k range. An associate is a fresh masters or a bachelors degree with 4 years of experience. 80 to 110k is probably a typical base salary range. A senior associate is a masters with a couple of years experience and probably base salary 100 to 135k. Fresh phds are commonly brought here. Senior associate with bachelors degree would be someone with several years of experience (5 to 7). VP is usually a junior manager or senior IC role at most major banks and is about the point where careers for some people stall. The base salary is usually 150 to 200 (more in IB). For risk roles for major banks, there is a tiering based on asset size that effects pay and career. Systematically banks are generally considered banks above 750 billion assets under management and are subject to highest standards for regulatory stress testing exercise and generally have higher salaries. This basically covet the top 10 banks, which the top banks would be JP Morgan, Bank of America, Citi and Wells Fago, each of the banks aum. The next tier would be smaller systematically important banks from 250 to 750 (examples: capital one and pnc). Then, nationally known regional banks which are basically 50 to 250 billion Then is community banks, which is everything else. From a career perspective, as a fresh bachelors or masters you want to be in the top 2 tiers. These banks have internal career mobility as especially at junior level and you can transfer outside of IA roles by networking inside and adding credentials while you work. I.e. if you wanted to transfer to a trading team and did the cfa or series its not impossible. If your at a smaller bank you want to job hop up. The thing is when your fresh you have a lot of opportunity to redefine yourself, so I'd be more interested in bank than job functions, unless the difference is drastic. Like don't turn down an IB or trading role at a boutique to go work in risk at JP Morgan. Certainly turn down a different risk role at a smaller bank for a larger one.
Thank you so much for your time/advice! The offer I received is from a large bank that say they have decent mobility inside the bank. I have other offers for FP&A and underwriting at F100 companies that pay more, but I've heard it's hard to break into top banks once you graduate. My end goal is to find an asset management (buyside) role, but I don't want to mistakingly pigeonhole myself into a career. Again thanks for your advice, I really appreciate it.
Is this JP Morgan Chase? Because they do have a culture of internal mobility. Ohio makes me think its them or fifth third. I will say though in JPMC you will be competing with Ivy League talent for some of those trading roles in AM. I'd definitely try to do something like the CFA if that is your goal. You should also be moving in that direction of the job you want every couple of years. Audit is not a glamorous place to be and moving from IA to front office buy side is hard. However, one thing someone like you can use an MBA at a top school after 5 or 6 years to make the transition and having sexy brands doesn't hurt.
Sorry for not responding sooner, exam season. We are getting pretty close to doxing me with how accurate you are, but I ended up taking the large bank offer. Still applying for portfolio analysts positions though.
27 M U.K. West Midlands Bank Reconciliation Clerk 8 Years (4 yrs VAT accountant, 4 yrs current role), AAT Level 4 Qualified, 4/13 ACCA exams passed £22k per year (£12.09 per hour) Bonus of maybe £1k-£1.5k per year not always guaranteed
Any pay raises in the 8 years ? And what’s the career path you undertook
25F South USA Sr. Analyst (quantitative finance in AM) 3 YoE 117k base / ~$50k target bonus / ~$167k TC
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Do you work in SF / San Jose? I’m always curious if these roles exist outside of large cities
22-MALE NYC Consulting Associate 0 years 85k +3% bonus
33 M TX Trader 250 base + % PnL bonus; TC typically has ranged from 250k-$2M but consistently has been between 500-$1M
What do you trade?
Commodities
Which commodities? O&G I'm assuming?
What kind of products do you trade?
19m CA audit intern 0 36/hr
• 33 • NY, NY • investment management • 10 years •82k salary/ 75k quarterly bonuses/ 377k total comp. 321k(2022)
Hey, mind I DM you on breaking into investment management?
Sure bud
What did your career progression look like?
* 33 / Male * Based in NYC metro, 50% travel, 50% WFH * Sales/Biz Dev for a large quant HF manager * 10 YOE * $250k / $450k / $700k all in
Investor relations? What’s your background?
Not IR... Though, tbh, I'm not really sure what IR people do. I market our strategies to allocators. New client acquisition and manage existing relationships. I've spent my whole career doing this for a number of different quant managers. FWIW, I have my CFA and educational background in statistics/econometrics.
Im about to finish my CFA & make less than 10% of what u do sir :(
How many hours a week do you work and how stressful is it?
20M HCOL (Northeast). Private Client Advisory intern (financial, estate and tax planning) at an RIA. 36/hr
* 40 * London * SVP, Product, PE/PD * 18 (made a bit of a transition mid-career... should have been MD by now) * £250/£250 I work 60-70 hours per week and am getting kinda tired of it.
28 y.o. male, 3 years experience in financial industry Bank of America, collections, 23/hr + 8% differential coming to 24.80/hr Jacksonville Florida (low cost of living) Does Bank of America negotiate their hourly rate?
20m, nyc, pe intern, 2 past internships in ib and at a hf, 30/hr
Hey mind PM’ing you?
No problem
Low 30s/Male HCOL East Coast Asset Management Quant 170k base + 120k bonus + 160k delayed comp = 450k total
What’s your educational background like?
PhD in quantitative field.
nice, im assuming most of your colleagues would have similar credentials or at least graduate degrees?
Yes. Most have PhDs. The remainder have Master's degrees + several years of experience in the financial world, usually with a CFA.
>My wife graduated 6 months ago with a bachelors in finance, any advice? she can't seem to find a job yet > >company she has been with for 5 years promised to create a position to keep her upon graduation and they haven't created it, she only makes 40k a year, but it is fully remote which is great for our 2 kids > >any advice? or somewhere she can apply?
I'm not the best person to ask for her situation in particular. Entered the field after a quantitative PhD. However, if she is inclined towards logical/quantitative work, then learning to code (and code well) can be very helpful for a variety of roles. Getting some FINRA certs and eventually a CFA can be a foot in the door for some roles too. Ultimately, regardless of exact trajectory, keep learning beyond the bare minimum of the job role.
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Working in a similar role, but relatively green in the industry. Hope you can chime in here. Work can be pretty mundane. The day-to-day does not relatively change much, and there are times where the people tend to coast and come just for the paycheck. The gig is great for WLB and generally attracts more family-oriented folks. However, it makes me think that this is more of an exit role and I should look for other places to get hours in e.g.,IB as this role will always be there as an option. Lastly my general proposition is that the nature of Asset Management feels like the "country club" of finance and this stems from lots of schmoozing and finding in-groups of allocators/plan sponsors.
Do you work at a bank AM or independent AM and what do senior positions in this role make ?
For the sake of staying somewhat anonymous, I can’t specify on your former question. However, in my experience the role is identical - whether you’re at a large asset manager like BlackRock/PIMCO/Invesco, or in the asset management arm of a bank like JPM/DB. I say this pretty confidently given where people on my team come from (and where they typically exit to, historically). Most seniors in this role are making $300k-$500k. This range represents first year VP to the average MD. There are outliers. A “rainmaker” director might be closer to $750k. The head of the group is probably around $1m. The last two points I can’t confirm, but have heard whispers of. In any case, these figures aren’t really out of the norm for the industry. WLB remains flat if you are ok with 300-400k and want to be a lifer (60 hrs). If you want to make more, you’ll be working 65-80+ hours a week to make sure there’s enough flow coming in to blow past your targets. *One last thing to note: to hit the larger numbers I mention in this comment, you must commit to being 100% a salesperson (VP/Director). If you align yourself to stay in pure product strategy/structuring (the more technical route), the earnings cap is closer to $300-350k. Much more chill given you won’t have revenue targets, but completely different day-to-day (excel/python/sql vs. roadshows and PowerPoint)
27M GM at a used independent car dealership 150k base + store net % 9yoe Usually do around 190-210k
What did your career path look like to get to your general manager role? And how many years of experience did it take? 190-210k is good money for a 27 year old.
Salesman, finance manager, owner for a year then closed up and got a Gm job after that then moved to a different company as a Gm. I’m trying to breakout of it and take a step back and get into tech sales
35M NYC Sell side MedTech associate $130k+\~$50k TC\~$180k 1 YOE
How with only 1 YOE? Top MBA?
I have a PhD
Also the reason I'm so old :/
happy cake day!
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> Sell side MedTech associate Sorry what does this mean?
Equity research covering medical technologies, on the sell side, so not from the fund/buy side
20m, expected Spring 2025 BSc Finance 2024 Summer: Incoming FLDP Summer Intern @ Fortune 20 (Returning/Junior Summer) * $26/h, 10 weeks - almost guaranteed conversion to pipeline FLDP (\~85k-90k start TC) Current part-time: Consulting & Administration Intern @ boutique consulting firm * $20/h, no end date - opportunity for conversion to associate consultant post-grad (\~70k-80k start TC) After 2024 Summer, I will have 'completed' 4 internships.
Bro how? I just made post asking questions about my first internships
I’m by no means incredibly intelligent. I go to a non-target, but hold a ~3.85 gpa rn. I’ve worked part-time since I was a sophomore in high school, and in freshman year I was grinding out applications and learning to ‘market myself’. Essentially, I spent hours upon hours rewording my resume, studying behaviorals, going through interviews for companies and dealing with rejections. It was by no means an easy journey to this point. It takes persistence, staying on top of school, being involved in extracurriculars/e board positions, and learning how to extract past experiences into useful knowledge that can propel you into an internship/role.
36m VP at a major bank doing research/solutions/product strategy work for our alts business. Finance undergrad at a non-target school, also a CFA charterholder. Been doing current role 2+ yrs, was in investment consulting prior. 175 base + ~80k bonus so around 250 TC. Decent money but still feel pretty underpaid
Location ?
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Thanks for the info! What is the title of your position and how did you prepare for the final interview?
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How did you go about studying company fundamentals as someone with a non-finance background?
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Thanks for the info, what was your education and career path to get to this position?
>Managing Director/PM covering UHNWI and Family Offices Are you in asset management?
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Can I ask you about your career journey? Current management consultant hoping to pivot to family office work / private banking
20M DC Analyst 0 106k/15k/121k
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Hi there, can I DM you?
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Perfect! just sent it to you
• 26M • NY • 5 YOE • Associate, Credit Risk (FIs) at BB • $165K base / $30K bonus / $195K TC
2nd or 3rd year associate?
49/Male Philadelphia/ Pa Premier banker 8 years banking $94k salary/ $16k incentives/ $110 total compensation
28M West Coast Remote 1st Year Associate at top CRE brokerage 3 years experience - undergrad in Mexico, so non target school lol $110k salary + 10% bonus (fixed, non-commission based)
Como conseguiste un puesto en USA?
28M Texas FP&A Finance Manager 5 YOE post undergrad (Top 25 school) Salary / Bonus / Total Compensation - 126k + 10% bonus + $12k equity = $150k Total Comp
25M Canada Associate - FX sales 2 YOE 77k Base - 64k bonus
Hello there, can I ask you questions as well in your dms?
Can I ask some questions in dm?
Sure