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Old 05-25-2013, 09:48 PM
 
Location: Texas
5,872 posts, read 8,095,507 times
Reputation: 2971

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Quote:
Originally Posted by Mr. Chad View Post
How about mid-level people like myself? I have 10 years experience in banking, 8 in private banking from NYC?

mid level w/ 10 yrs...depending upon where/what you're doing now. For example still in private banking for boutique can be in the low to mid 70's plus fees, for a BB will be easily in the upper 90's plus, and if you're in the HF or invst bnk area in the mid 100k+.

Right now private wealth is doing gangbusters, low pay for it, but lots of fees and clients getting back into the game and wanting to make up for lost time. Couple of buddies making $78+ base w/ 1.25x bonus. Great time to back in the game.
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Old 05-25-2013, 09:55 PM
 
Location: Texas
5,872 posts, read 8,095,507 times
Reputation: 2971
Quote:
Originally Posted by thatguyoverther View Post
I go to a small college in Western North Carolina called Mars Hill College. It's probably a lot like "Podunk State U" in the sense that no one has heard of it, nor cares. In Asheville, which is the closest city, all I can say is good luck getting an internship. They're non existent. I have no internships, but I have worked extremely hard in college and my gpa is a 3.6. A 3.6 is at least mediocre I suppose. My degree is Business Administration with a concentration in Finance and Economics. It doesn't sound like I can get a job as an analyst. Should I attempt to pursue something else?
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Start small. Best thing is to bust for an internship. Most are gone by now, but some are open due to some a-holes dropping at last minute. Keep searching. FED work will be great foot in door as well, and Dallas FED has internships open. JPM also has some open, as does GS. You never know, can't hurt. ML also has some coordinator positions open in their wealth mgt here in Dallas as well as Houston.

3.6 won't wow anyone, but if you can't wow them w/ substance, dazzle w/ bullsh*t! Learn the ropes, make a killer elevator pitch and press the flesh young man! LinkedIn, meetups, coffee's, anything to get your face in front of people. And above all, WORK YOUR AS* OFF. I know it's common sense, but in reality, take what most people think is 100% and triple the effort and it will be 1/2 of what will be expected. That will get you noticed, and worked to death, but there will be light at the end of that tunnel for your MBA, and then...more work and 300% effort. With luck you'll make MD by 35 and then be allowed to take a 1/2 day.

Welcome to the world my friend. Enjoy it...it'll be awhile before you see it again.
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