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mba07
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Bonuses in NY Vs London/HK/Tokyo 14 Mar 2007, 21:47
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Hi all
I've heard bonuses in NY (IB, MC) are much higher than in other locations like London, HK, Tokyo. How true is it?

PS: I intend getting into IB or MC after MBA. As an Indian I have no locational preferences between US and the other locations. I can start targeting schools based on the 'bonus factor'.

Thanks!
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3underscore
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Bonuses in NY Vs London/HK/Tokyo 15 Mar 2007, 02:42
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Purely conjecture, and really not a sensible comparison.

And it all depends on what FX rate you take to compare.

Really - just choose a City you like, and work there. Following that logic, you would just go and work in Dubai or the Middle East because it is tax efficient.

There is a lot more to it that a number. Property prices, quality if life, whether the government is a stalinist junta and may steal your possessions...
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fluffydot
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Bonuses in NY Vs London/HK/Tokyo 15 Mar 2007, 08:42
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I'm interested in working in HK/Shanghai for internship and/or post mba also. It would be great if anybody has any insight about this.

tho I suspect that these places should have comparable pay since they are international financial centers.

thanks!
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Paul
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Bonuses in NY Vs London/HK/Tokyo 15 Mar 2007, 13:18
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HK does have comparable salary scale and when you take into account taxes and cost of living, it is much better than London or NY.
Shanghai does NOT have comparable scale and from a friend of mine, I know that a job at a top bank would be around the 55k US. And this is if you already have experience in the field.
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Paul
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Bonuses in NY Vs London/HK/Tokyo 15 Mar 2007, 13:20
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But in the end, choosing a place of work depending on salary/bonus is not the best decision one can make.
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mba07
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Bonuses in NY Vs London/HK/Tokyo 15 Mar 2007, 22:49
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I'm not trying to choose a location based on the bonuses.
In the long run, I might return to my home country. Considering NY and London are both great cities, I thought I could choose the city based on higher pay packets (if at all there is a substantial difference), pay back loans in a jiffy and return to my home country.