£70k grad salaries???
Discussion
Assuming this guy is straight out of uni, it possible but very unusal. He would have to have some remarkable reason to earn that. I know one chap who was earning at least that first year after uni but his area of expertise was very rare and very valued.
If he has had a couple of years of experiance after uni then in M&A I would say that figure is perfectly reasonable but then I also know at least oneperson earning way in excess of 20 times as much making paper bags (I jest you not!).
Dpends on the job, the person and the compnay, but in short if he is straight out of uni, it would be a bit odd!
If he has had a couple of years of experiance after uni then in M&A I would say that figure is perfectly reasonable but then I also know at least oneperson earning way in excess of 20 times as much making paper bags (I jest you not!).
Dpends on the job, the person and the compnay, but in short if he is straight out of uni, it would be a bit odd!
Unless they have something rare e.g some new model for m and a that gave the employer competitive advantage I would say probably not true. Unless he is talking total comp, which is a city game. Ie lower base with incentive based bonus based on team performance. But even then it would be huge. Sure it was not Dollars? Just a lot of us work out comp in US dollars in the city as our parent firms are US based, but dont worry he would still get British pounds!
a schoolfriend started at an American investment bank as a grad - it was his ever job. Starting salary was £52K + bonus. This was back in 2001.
Mind you, he had deferred entry to the grad scheme from the Sept previously, so that he could compete in the Sydney Olympics. Oh yeah, he picked up a gold for rowing, and an MBE in the process.
Legend has it that the bank wanted him to have MBE on his business card and he refused. They came to an (ahem) 'agreement', and he was allegedly paid even more...
Nice work if you can get it.
Starting salaries at UBS Warburg (as it was then) were around £40-45K back in 2001.
Mind you, he had deferred entry to the grad scheme from the Sept previously, so that he could compete in the Sydney Olympics. Oh yeah, he picked up a gold for rowing, and an MBE in the process.
Legend has it that the bank wanted him to have MBE on his business card and he refused. They came to an (ahem) 'agreement', and he was allegedly paid even more...
Nice work if you can get it.
Starting salaries at UBS Warburg (as it was then) were around £40-45K back in 2001.
rico said:
A mate has just told me he's got a mergers and aquisitions interview tomorrow with one of the big players and the starting salary is £70k!!
Is he bullsh*tting or are the city salaries that high now?
I could have sworn the upper band is around £35-40k...
No chance. I have been working in Investment Banking for 10 years. Corporate Finance (which M&A is a part off) generally pays low salaries and after working 15 hr days on 1-2 deals a year will pay big bonuses. 1st years would be getting 30-40k max salary.
Base salary? Highly unlikely, but just about possible coz banks are capable of some pretty stupid moves. With a bit of experience under his belt and if he's proving he's got potential, has built up some contacts, blah, blah, blah then this kind of salary would be about right and he ought to be getting a healthy bonus on top.
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