- Joined
- Oct 12, 2005
- Messages
- 281,619
- Reaction score
- 100,389
- Location
- Ohio
- Gender
- Male
- Political Leaning
- Libertarian - Right
I deal with the public in my city's business district, and meet a fair amount of finance guys - usually investment bankers, financial analysts, or traders.
Because my kid is studying undergrad finance, I now sometimes chat them up about it. I was blown away to hear some big firms in my city are taking guys right out of undergrad, and tossing them into I-Banking at around 80K to start.
Now they have to have a great G.P.A., but they do go directly into I-Banking at a reasonably decent just-out-of-school salary, with the same opportunity to double & triple their income quickly - just like the traditional M.B.A.s do.
In the '80's when I was looking at grad school, an M.B.A from a reputable school was pretty much de rigueur to get into a decent investment banking firm. It seems no longer. So yeah, something seems to have changed (in I-Banking) lately, at least in my city.
(these guys did claim an M.B.A. was good to get for higher levels as time went on, but it was not required for entry - or even at all)
my niece is starting at 106K. I cannot fathom what someone right out of college can contribute that is worth that much but I guess I will learn. but the hours are brutal and she's part of a "team" that basically travels from client to client. Her typical work week-from what her father tells me is like this
Sunday evening-travel to client city. Monday-wed/Thursday, meet with client. Thursday-travel back to home office. Thursday-Friday-work on report for client. Saturday, prepare for trip to next client the following day.