{ "media_type": "text", "post_content": "We all know Investment Bankers put in long hours but the money they make is absurdly good. I mean I’m sure some consultants put in similar work weeks for 100k while IB making 225k with 100% bonus...", "post_id": "5e93775988fd97001bee3a77", "reply_count": 19, "vote_count": 5, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

We all know Investment Bankers put in long hours but the money they make is absurdly good. I mean I’m sure some consultants put in similar work weeks for 100k while IB making 225k with 100% bonus...

like
Posting as :
works at
You are currently posting as works at

Friend of mine from college is a currently a MD at a BB. He graduated a year ahead of me and looks like he's about 10 years older than I am. He stayed at his first, smaller IB through AS3, then moved to the BB and has been there since. We kept in pretty close touch through his move to the BB, but haven't kept in touch very well since then. His first 6 years or so were awful. For his analyst years, he was consistently at the office for 80-90 hours per week, with another ~20 hours WFH on the weekend. When he made associate, that dropped to 70-80 and 10-15, respectively. When he got the promo to VP, he dropped down to an average 60-70 hours total per week. His base comp at the smaller IB wasn't *that* much higher than what I was making in consulting, but his lowest bonus was ~50% and has ranged to >200%. Frankly, while the TC is great, after seeing how he's aged in his 17 years in IB, I have zero desire to go that route at all.

like

IB puts in a lot more hours on average than most consultants. But they also don’t travel that much

like

The decision is whether the incremental ~20 hrs/week (60 vs 80) is worth ~1.5x the salary (120 vs ~200 at my level). IMO those incremental 20 hours are insanely valuable. Like the difference between getting 5 and 7 hours of sleep per night, being able to exercise 3-4 times per week and having my weekends largely work free

like

100 vs 220k is not a fair rank comparison.

likesmart

Lol these comparisons are totally off base

like

So my question is how hard actually is it and how bad are the hours? Is it worth it or are you really sacrificing a lot/too much?

like

Not hard. Just long hours.

like

Aren’t ibankers getting Laid off now because it’s a recession?

Depends on what sector / product areas you are aligned to

Ibankers make much more money than consultants at junior level but I believe once one makes partner in consulting, it levels off. I have a few friends who are doing banking post mba, their base is more or less similar to mine but their bonuses are 100-150% of base usually so in TC they make much more. But post partner level it is fairly equal. If you are in this for the long run, I feel consulting provides that balance but if making money in the short-term is important to someone, banking provides the upside but you sacrifice your personal life

My 2 cents — while I find that the hours in consulting seem to be better comparatively at a junior level, they don’t really change as people become more senior. I’ve had managers/senior managers/sometimes even mds pulling the same hours I work as an analyst. Ibanking analysts work a lot more than I do, but their associates and vps have hours that become better and better with each level

This. When I was at D, my SMs routinely worked the worst hours of anyone on my engagements. It was routine for them to log 70-80+ hours per week between client work, BD, and FI. The SM on my last engagement there went 6+ months straight billing no less than 80 hours per week in his promo year.

Salary being similar at certain levels between consulting and IB is a nice thought but the fact their bonus is 100-200% puts them way above. Almost makes salary talk a moot point. My cousin works in IB and he said aside from this year since it’s pandemic, if people didn’t get 100% bonus they’d be upset and maybe leave. Getting 500k in one paycheck compared to the 10% we get just seems unfathomable. It would def make suffering long hours worth it with some light at the end of the tunnel

Related Posts

Can someone dunk on me? Need an Ego check after landing a $240k TC (Base + Bonus) Corp M&A role. Just turned 27. 🚀

likefunnyuplifting

How bad / unexpected is the attrition post bonus? At the manager and director level?

like

What the f$&k 2 weeks of shut down and my ceo announces no promotions no bonus no increments voluntary job reduction 75% of the year is already gone and we are doing great ... 2 weeks made this !!

likefunny

Hi - if I quit baking after my 2 years and got my associate promo bonus (which is now seen as an overpayment), do I need to pay it back to company if they are asking for it? What happens if I don’t? (I am in Canada btw)

like

When negotiating a salary for a new job, typically you negotiate total compensation which includes bonus. Do the offers usually indicate bonus percentages or do we just trust that it will be around what we discussed?

like

Hi all, what's the Notice Period at Barclays? Also the offer letter that i got last month does not mention anything around variable pay or bonus.

Hello Sharks , I have got three offers with YOE 7.7 . current CTC 12.5 in Sopra Steria 1. accenture fixed 18 lpa+ 4.8 Variable 2. Ibm fixed 20 lpa + 2l Joining Bonus 3. Pwc fixed 21 ( under discussion) PwC IBM Accenture

like
likesmartfunny

NTT Data 16 fixed 2 lakh variable + 2lakh joining bonus!! manger & hr confirmed won't be much night shift Cognizant 19.2 (18.5 fixed) without going bonus manager confirmed night shift can be avoidable as per my wish. still confused!!

like

Owner of my company is purposely withholding my bonus because he thinks I’m going to quit after I get paid. Rest of the company already got paid. Ironically I had no desire to quit before….but now I do. How would you handle this?

like

Guys does anyone have visibility on RSM US LLP RSM?They are expanding big time in India . Please provide some insights into Annual hikes, Bonus Payout, WLB and ooverall culture of the firm ..Thanks !

like

What is typically the size of the salary increase/bonus from staff 2 to senior for someone who has a 3 rating

like

Anyone interested in a referral bonus 😬? I’m looking to transfer to LA this upcoming May! DM me!

My spouse and I do well for ourselves financially. We save his bonus (which is 6 figs) , max out 401ks, live off our salaries, have a home, etc but beyond that he’s not really into looking closely at our spending. It makes me nervous as I didn’t come from money like him. He’s in finance but only references our budget once our account dips more than HE is comfortable. Not looking for a new husband just wondering if I’m being a poor patty and overreacting wanting to budget/save more.

like

Raise and bonus were a huge disappointment and just had a PPMD lie to my face about a project. 10 years with Deloitte and great reviews, but it’s time to move on. Looking for feedback from other companies.

like

People who moved from consulting to corporate strategy roles at Google, Microsoft, Facebook - what’s your base comp and stock grant?

likehelpful
like

What's your salary and what do you pay in rent? Trying to justify a 3k apartment 😭

likehelpful

Hi guys, I have two offers in hand. Kindly provide suggestions in all aspects like WLB, career growth, Job security and other benefits. I have very few days to join. YoE - 8yrs Relevant YoE- 2yrs Tech Stack- nodejs CCTC - 6LPA TATA Elxsi - 13lpa fixed (Team and Project already discussed) Brillio - 16.5lpa fixed + 75k joining bonus (Yet to attend client interview after joining. Based on that team will be decided )

like

Hi, I have an offer from GlobalLogic for Senior QE Manager. They are offering ₹36 lpa fixed + ₹4 lpa bonus (which is paid out 100%) = approx ₹40.5 lpa. I have my HR round scheduled with Morgan Stanley this week for Vice President QA position (designation is equivalent to Senior QA Manager). I'm thinking of quoting ₹43 lpa base (comes to approx. ₹47 lpa including PF etc.). Would this be a reasonable ask? Pls comment. YOE 17 in Quality Engineering (Java/Selenium/Test Management). Thanks.

like

Additional Posts

Still not seeing location in the post window when turning it off.

Post for push testing

like

Hhjjndjjffjjddjdh dndbbdndjjdjdndnnf dndbdhjxjdjd djdjhdjdjdjhdjndndndjdjdjdjjcncndjdjnd dhdjhdjdjdjhddhhd ghhhhhhh ghbbbbb fghhhhhhbh cvhhhhhhbhbb ghhbb. Hjnxnxndbd vsbdbddbbxbdbbd dbdhdhdjjxndnbdhdh

like

Ah now it did.

like

Changed my company but it didn't update!

Post for comments

like

Do you see this post? 12:59am

What are some good companies to work for in Dallas?

Post without company

like

Bbdjdndjdjgsjdjcbbdbxndbdbcghsbxhdbdbbxbbdbdbbdbdhxhdbbdbxjdbxbhebsbxb dbdbdbd Bebe the. Dbdbdbd sehsbevshdvhdbdbdbdbdd dbhsbvdbdvdvdbvduchhcbd dbhsbvdbdvdvdbvduchhcbd and I have love you so too but I

like

Not seeing any other posts!

Testing a new post at 12:06PT 5.12

like

Where is a new build???

like

Bhh d hhjjj dudjejr the jejune rhjejej. Jdjdjdn dhejejjdne dhejejjdne hehehehehje rhjejej he hehehehehje rhjejej

like

Developed the majority of a presentation to be presented to the exec client. Was in process of preparing to present. Didn’t get to go. Funsies. 😩

likefunny

(Management Consulting) - Rank em: Accenture, IBM, PWC, Deloitte

Deloitte 🐠, just signed offer letter. How long befor a background check process starts and how long does it take to complete. Timing is critical for me. Also how are they handling on boarding. Laptops, cellphones and trainings. I know DU is closed, but is training remote or can one go into the home office

like

On a date with a girl from deloitte

like

On my way to Sunday night flight, but can't contain my excitement for this upcoming PTO starting at the end of this week going till the New Years!

like

What’s everyone doing with your Amex membership rewards fee? Cancel the program and find a way to use those points or pay the fee for the year?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal