What does it take to get a high paying banking job? (luxury, top schools)
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Next year I will have a graduate degree in economics from a very good (not quite Ivy, but considered Ivy Plus) school. I have 2 years of decent professional experience (again not the so-called prestige companies, but good experiences). I am hoping to get into the six figures...do you think that is reasonable?
BTW, I know six figures it not exactly a luxury lifestyle, but I'm single so it ain't too shabby.
Next year I will have a graduate degree in economics from a very good (not quite Ivy, but considered Ivy Plus) school. I have 2 years of decent professional experience (again not the so-called prestige companies, but good experiences). I am hoping to get into the six figures...do you think that is reasonable?
BTW, I know six figures it not exactly a luxury lifestyle, but I'm single so it ain't too shabby.
I think your first point of contact should be your counselor at your school. Finding emplyement is a full time job and with things they way they are right now its kinda hard to answer those questions.
I am hoping to get into the six figures...do you think that is reasonable?
Nope, not reasonable. You must either have an internal resource who can push you far above others with similar qualifications, or you start in one of those banking sweatshops trying to climb up and pushing aside your peers, who will do the same to you
You already missed the recruiting season for jr analysts at all the banks. You usually apply during the early part of fall semester of your senior year. You could apply for next year, but that wouldn't start until Summer 2011, and you may not technically be eligible since you're not still in school.
Right now, you can try blindly submitting applications, and they might get you onto the ops side, but won't get you into any banking program for any big bank. Smaller banks and hedge funds don't necessarily follow the recruiting schedule, but they also usually expect their candidates to be top candidates, from top schools, and many, many require 1-2 years banking experience.
Best bet, know someone and have them get you an interview.
What do the equity research and economic research jobs pay about? I guess I should have clarified I'm not really that interested in the slave junior IB work.
What do the equity research and economic research jobs pay about? I guess I should have clarified I'm not really that interested in the slave junior IB work.
Depends on the bank. Most people have to do the IB route for at least a year or two before being marketable to other positions. It's a teaching program, and also used to weed out people that can't handle the lifestyle.
That said, I'm at a hedge fund and never did the IB route. I can't speak first hand on what they're current paying. My guess, for a jr analyst type role for someone right out of college, is a 55-60k base with a bonus anywhere from 25-100%.
And not to sound negative, but if this was a path you planned to persue, you are starting WAY too late. That alone will be a big negative (like I mentioned, you missed this year's recruiting).
edit: sorry I re-read your first post. Are you graduating this month, or in a year? I took it as you are graduating now and looking to start working in the next couple months. Also saw you said grad degree, and not just a bachelors, that will help and alter my comments so far. Masters/MBA candidates are not in the same analyst training programs as bachelor candidates
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