Are lifetime earnings in LMM really better than at MBB?

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MBB has a pension?

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Hmmm. Just because you are asked to leave for retirement, doesn’t mean you get an annual amount for pension.

Seems like a very subjective question. Obviously a lot of factors including how you define life time earnings (e.g., full career at either place). I would assume LMM outcomes are far more variable, with likely a higher overall LTV. There’s theoretically unlimited upside on carry, whereas even managing partner cash comp probably doesn’t exceed a 5-10m range. Also much more favorable tax treatment. With that said, MBB has a great pension etc. Don’t think you’ll have earnings as a major concern at either tbh.

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