Last visit was: 20 Nov 2025, 05:08 It is currently 20 Nov 2025, 05:08
Home
GMAT
Messages
Tests
Schools
Events
Rewards
Chat
My Profile
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
 [1]
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
 [1]
IB Salary Report 20 Aug 2008, 13:14
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Found this on the web today and thought you guys might be interested.
Attachments

ibsalaries.pdf [55.44 KiB]
Downloaded 402 times

User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 20 Aug 2008, 13:48
Kudos
Add Kudos
Bookmarks
Bookmark this Post
One thing that I'm somewhat confused about - it lists a first year associate as a stub year, a second year associate as the full year, and a third year associate as a second full year.

Let me get this straight - if someone graduated this year (2008) and started this Summer FT. Would this be their timeline?

July 2008 - December 2008 - First Year Associate
January 2009 - December 2009 - Second Year Associate
January 2010 - December 2010 - Third Year Associate
January 2011 - ? - Vice President

Or - would this be their timeline?

July 2008 - December 2008 - Stub Year
January 2009 - December 2009 - First Year Associate
January 2010 - December 2010 - Second Year Associate
January 2011 - December 2011 - Third Year Associate
January 2012 - ? - Vice President
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
IB Salary Report 20 Aug 2008, 18:06
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Not sure, I would guess the latter, but maybe Pelihu can shed some light.
User avatar
isa
User avatar
Current Student
Joined: 04 Dec 2007
Last visit: 21 Jan 2010
Posts: 1,687
Own Kudos:
224
Given Kudos: 31
Concentration: Healthcare, Strategy, MC
Schools:Kellogg '11
Posts: 1,687
Kudos: 224
IB Salary Report 20 Aug 2008, 18:27
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Am not too familiar with the hierarchy at IB firms but is it always Associate then VP? Are there ever any interim positions such as Principal like in some PE firms?

terp06
One thing that I'm somewhat confused about - it lists a first year associate as a stub year, a second year associate as the full year, and a third year associate as a second full year.

Let me get this straight - if someone graduated this year (2008) and started this Summer FT. Would this be their timeline?

July 2008 - December 2008 - First Year Associate
January 2009 - December 2009 - Second Year Associate
January 2010 - December 2010 - Third Year Associate
January 2011 - ? - Vice President

Or - would this be their timeline?

July 2008 - December 2008 - Stub Year
January 2009 - December 2009 - First Year Associate
January 2010 - December 2010 - Second Year Associate
January 2011 - December 2011 - Third Year Associate
January 2012 - ? - Vice President
Show more
User avatar
riverripper
User avatar
Major Poster
Joined: 10 Apr 2007
Last visit: 20 Aug 2022
Posts: 4,306
Own Kudos:
806
Given Kudos: 5
Location: Back in Chicago, IL
Concentration: General/Operations Management
Schools:Kellogg Alum: Class of 2010
GMAT 1: 740 Q49 V42
Posts: 4,306
Kudos: 806
IB Salary Report 20 Aug 2008, 18:44
Kudos
Add Kudos
Bookmarks
Bookmark this Post
From what I know the career progression at the big banks goes something like:

Analyst -> Associate -> VP -> Senior VP -> Director -> Managing Director -> Group Head -> CEO
User avatar
isa
User avatar
Current Student
Joined: 04 Dec 2007
Last visit: 21 Jan 2010
Posts: 1,687
Own Kudos:
224
Given Kudos: 31
Concentration: Healthcare, Strategy, MC
Schools:Kellogg '11
Posts: 1,687
Kudos: 224
IB Salary Report 20 Aug 2008, 19:22
Kudos
Add Kudos
Bookmarks
Bookmark this Post
thanks river!

riverripper
From what I know the career progression at the big banks goes something like:

Analyst -> Associate -> VP -> Senior VP -> Director -> Managing Director -> Group Head -> CEO
Show more
User avatar
jallenmorris
User avatar
Joined: 30 Apr 2008
Last visit: 09 Oct 2014
Posts: 1,227
Own Kudos:
963
Given Kudos: 32
Location: Oklahoma City
Concentration: Life
Schools:Hard Knocks
Posts: 1,227
Kudos: 963
IB Salary Report 20 Aug 2008, 19:25
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Is it just me or do those seem unusually high?
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
IB Salary Report 20 Aug 2008, 19:29
Kudos
Add Kudos
Bookmarks
Bookmark this Post
jallenmorris
Is it just me or do those seem unusually high?
Show more

Take note of the year, 2006. That was a very good year on Wall Street.
User avatar
jallenmorris
User avatar
Joined: 30 Apr 2008
Last visit: 09 Oct 2014
Posts: 1,227
Own Kudos:
963
Given Kudos: 32
Location: Oklahoma City
Concentration: Life
Schools:Hard Knocks
Posts: 1,227
Kudos: 963
IB Salary Report 20 Aug 2008, 19:34
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Any idea what to adjust the numbers to?
User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 20 Aug 2008, 19:41
Kudos
Add Kudos
Bookmarks
Bookmark this Post
riverripper
From what I know the career progression at the big banks goes something like:

Analyst -> Associate -> VP -> Senior VP -> Director -> Managing Director -> Group Head -> CEO
Show more

Senior VP and Director are generally the same position - they're just called one or the other at different banks.

There is also sometimes a title of "Senior Managing Director" that comes after MD. This is generally coincides with a Group Head appointment, but sometimes I believe there are SMD's who are not Group Head's.

Goldman Sachs also has Partner Managing Directors which are a step up above MD. In the golden days when GS was private, these were the positions that everyone would aspire to - the positions which allowed you to share in the firms good fortunes with an equity stake. Many of the PMD's all of a sudden found that their net worths ballooned by tens of millions of dollars after the Goldman Sachs IPO in 1999 (one "normal" non-C suite example: https://www.timesonline.co.uk/richlist/p ... 09,00.html). However, I really don't know much clout the title holds today with GS being a public company.

Lastly, I'm not quite sure about this, but some guys have a title like "Global Head of Technology Investment Banking" or "Global Head of Interest Rate Derivatives" - I'm not sure if this is the same thing as Group Head, or if it is actually a step up. It could just be different naming conventions at different banks.
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
 [1]
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
 [1]
IB Salary Report 20 Aug 2008, 21:09
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
This is from Wall Street Oasis, a good IB blog/website. This is also for a full year, not the stub. Also, check out Mergers and Inquisitions for other great IB information.
Attachments

ib.JPG
ib.JPG [ 80.19 KiB | Viewed 3582 times ]

User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 20 Aug 2008, 21:11
Kudos
Add Kudos
Bookmarks
Bookmark this Post
VP and MD Bonus #s on that chart sound like they would be for regional firms.
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
IB Salary Report 20 Aug 2008, 21:13
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Also note that it is self-reported data and I wouldn't guess as many MDs and VPs would spend much time on the website.
User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 20 Aug 2008, 21:17
Kudos
Add Kudos
Bookmarks
Bookmark this Post
jb32
Also note that it is self-reported data and I wouldn't guess as many MDs and VPs would spend much time on the website.
Show more

Very good point. Do they have another forum for MDs and above? *chuckle*
User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 20 Aug 2008, 21:47
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Just thought I'd throw it in there:

https://www.amazon.com/Damn-Feels-Good-B ... 939&sr=8-1

Quite possibly the funniest book on banking culture ever written :)
User avatar
jb32
User avatar
Joined: 20 Feb 2008
Last visit: 06 Jun 2010
Posts: 773
Own Kudos:
155
Given Kudos: 9
Location: Texas
Concentration: Finance
Schools:Kellogg Class of 2011
Posts: 773
Kudos: 155
IB Salary Report 21 Aug 2008, 06:58
Kudos
Add Kudos
Bookmarks
Bookmark this Post
terp06
Just thought I'd throw it in there:

https://www.amazon.com/Damn-Feels-Good-B ... 939&sr=8-1

Quite possibly the funniest book on banking culture ever written :)
Show more

I read it last week, and I would definitely say its worth checking out.
User avatar
riverripper
User avatar
Major Poster
Joined: 10 Apr 2007
Last visit: 20 Aug 2022
Posts: 4,306
Own Kudos:
806
Given Kudos: 5
Location: Back in Chicago, IL
Concentration: General/Operations Management
Schools:Kellogg Alum: Class of 2010
GMAT 1: 740 Q49 V42
Posts: 4,306
Kudos: 806
IB Salary Report 21 Aug 2008, 07:09
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I talked to a few people that read it and said its well written but still basically a bunch of tired cliches. From what they said it was a decent book but didnt live up to expectations.
User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 21 Aug 2008, 07:39
Kudos
Add Kudos
Bookmarks
Bookmark this Post
It exceeded mine - but I've been a regular reader of leveragedsellout.com for a couple of years now and I'm a big fan of Amit Chatwani's writing in general. It definitely does have a few tired cliches, but his hilarious writing style makes up for them.
User avatar
jallenmorris
User avatar
Joined: 30 Apr 2008
Last visit: 09 Oct 2014
Posts: 1,227
Own Kudos:
963
Given Kudos: 32
Location: Oklahoma City
Concentration: Life
Schools:Hard Knocks
Posts: 1,227
Kudos: 963
IB Salary Report 21 Aug 2008, 07:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
What is so funny about it? Does he make up stuff that he doesn't know and tell others that they're lacking in almost every way? Does he ask people "Is this supposed to impress me?"

terp06
It exceeded mine - but I've been a regular reader of leveragedsellout.com for a couple of years now and I'm a big fan of Amit Chatwani's writing in general. It definitely does have a few tired cliches, but his hilarious writing style makes up for them.
Show more
User avatar
agold
User avatar
Joined: 11 Mar 2008
Last visit: 01 Mar 2009
Posts: 1,578
Own Kudos:
300
Location: Southern California
Concentration: Investment Banking
Schools:Chicago (dinged), Tuck (November), Columbia (RD)
Posts: 1,578
Kudos: 300
IB Salary Report 21 Aug 2008, 07:45
Kudos
Add Kudos
Bookmarks
Bookmark this Post
jallenmorris
What is so funny about it? Does he make up stuff that he doesn't know and tell others that they're lacking in almost every way? Does he ask people "Is this supposed to impress me?"

Show more

Go take a peek for yourself. You may not be as thrilled with it as I was. It could certainly rub many people the wrong way.
 1   2