Your recent graduate dc major/ profession/ Income ?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:French Lit
Carpenter (apprentice to master carpenter)

No clue but does truly beautiful work. He’s supporting himself.

That's fantastic! Sounds like you raised an interesting person.

I love this one too.

+1 love, love, love this. I wish more people would go down this path.

+2. But like this kid AFTER he got his education.

Or at least business education. If you're going to be self-employed, you need to have a lot of skills in managing your business, which includes the financial and marketing ends.

Our cousin is a Master Carpenter. He is highly sought after and travels the world because of his skills yet it is the business end that keeps tripping him up. Fortunately, now one of his sons is working with him and that young man has a business degree. The family is now much more financially stable with the son managing the business.

It is one thing to be a master at your craft, it is entirely another to be master of your craft and be able to live off of it because you know how to manage the business end of things.

Yep. I'm European and one of my elementary school friends is a semi-famous artist. She comes from a family of artists, so she grew up in the industry, and is SO GOOD at marketing herself and managing the business. She hires a PR firm and is a superb salesperson - she doesn't have kids and travels the world to galleries.

+100

To succeed in the arts, you need to have the talent as well as a keen business acumen.

OH, poppycock!! No one needs a “business degree” to run their own small art business! That’s patently absurd and a total waster of a major. This kid is following his passions: French lit and now carpentry. Let him stay outside the box. He’ll do great.

Business school kills creative thought. It can only teach you how “it” has been done before.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Accounting

Unemployed

Not believable. DH is a partner at a local CPA firm and they have given all staff 2 raises in the last 6 months to keep them for busy season. July was 7%. Jan 1 was 10%.

Of course it’s believable!!! The kid could be a drug addict or drunk or mentally ill or depressed for all
we know. Lots of unwell accountants, I’m sure, are out of work.

The business degree isn’t an umbrella against unemployment

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lol I'll post about myself.

Political Science, minor in Journalism (2018)
Associate at political-oriented communications firm
61,000 with 3,000 performance bonus

Big bum

Stop trolling the college sites, grandma. Go back to your stories on Fox News. You’re just embarrassing yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do investment bankers really make 300k after 2 years?

The bank's salaries are the biggest expense and yes, pay is great at the top ones or boutique. There are smaller, regional IB firms (there are a couple in DC area too) and newcomers like M&T Bank and those pay much much less. (Big) banking has NO W/L balance. We had to work more than 100 hours and I got so many UTIs because I couldn't use the bathroom enough. My friend got shingles in his 20s. Lots of cavities (nobody had time to go to the dentist), lots of coke to stay awake. Most burned out after 2 years, went to grad school to do something else or move to the industry related to their group. Lots in research try to transition from the sell side to the buy side, where the schedule is better and $ is good. If you survive and are able to backstab most of the analysts, the bank pays for 2 years of MBA (Stern is great and in the city) and then you become a VP, make more $, torture the analysts, and backstab more to get to MD. My understand is that law is the same but with slightly lower salaries, as if you don't have partner potential, you are asked to start looking around.
IMO, going for big consulting like Bain and McKinsey is better, as the salaries are great and the W/L balance is better. The work is fun and easy too, as you don't have to implement anything, like Accenture.

This happened to me at a big ad firm in Chicago, ugh.
Reading the "plastic white chair" GS stories sobered my kid up fast.

I guess it’s better to have bathroom issues while being compensated at 350k per year than at 35k per year.

PP here. Yes, absolutely, I mean sanitation workers, cleaning crews, unskilled nurses in assisted facilities have much harder jobs. Working 12 hours days doing valuation is infinitely better than changing old people diapers for $10/hour. And to the PP who said 300K is not much it - it is when you are 23 y/o. Everyone has roommates and you barely have time to shower, forget about shopping. The bank also feeds you if you work late, which was always.

NP
Are most new graduates with that kind of income from brand name colleges with type A personalities?

PP and IMO yes because the business model in IB is to sell and get business. The introverts with superb math skills go into Quant Research or developing trading programs, like high frequency. MIT and Caltech and huge feeders for these. The analysts make great money too.

[Anonymous]

business analyst at MBB
class of 2020
$90k + $5k signing + $20k year end bonus
major: great books and piano performance, minor in Italian

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lol I'll post about myself.

Political Science, minor in Journalism (2018)
Associate at political-oriented communications firm
61,000 with 3,000 performance bonus

Big bum

Stop trolling the college sites, grandma. Go back to your stories on Fox News. You’re just embarrassing yourself.

Yes tit big troll

[Anonymous]

The bank's salaries are the biggest expense and yes, pay is great at the top ones or boutique. There are smaller, regional IB firms (there are a couple in DC area too) and newcomers like M&T Bank and those pay much much less. (Big) banking has NO W/L balance. We had to work more than 100 hours and I got so many UTIs because I couldn't use the bathroom enough. My friend got shingles in his 20s. Lots of cavities (nobody had time to go to the dentist), lots of coke to stay awake. Most burned out after 2 years, went to grad school to do something else or move to the industry related to their group. Lots in research try to transition from the sell side to the buy side, where the schedule is better and $ is good. If you survive and are able to backstab most of the analysts, the bank pays for 2 years of MBA (Stern is great and in the city) and then you become a VP, make more $, torture the analysts, and backstab more to get to MD. My understand is that law is the same but with slightly lower salaries, as if you don't have partner potential, you are asked to start looking around.
IMO, going for big consulting like Bain and McKinsey is better, as the salaries are great and the W/L balance is better. The work is fun and easy too, as you don't have to implement anything, like Accenture.

Many new hires at an IB have no intention of ever staying more than two years. My DC went directly from undergrad into private equity, which is fairly uncommon. Many IB hires use banking as a path into PE, and actually interview in the fall after graduating to move to a PE firm after two years at a bank. Those kids are going from the frying pan into the fire. There is no w/l balance in PE, especially during Covid because the deal flow has been insane. Like the cavity story above, my DC finally went to the dentist this week (after two years and tons of prodding by us) and the dentist referred DC to a specialist because teeth have been ground down (stress) and jaw has been impacted. IMO, no amount of money is worth the terrible lifestyle, but it can be intoxicating to a kid just out of college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lol I'll post about myself.

Political Science, minor in Journalism (2018)
Associate at political-oriented communications firm
61,000 with 3,000 performance bonus

Big bum

Stop trolling the college sites, grandma. Go back to your stories on Fox News. You’re just embarrassing yourself.

Yes tit big troll

What does that even mean? Are you agreeing with my comment or trying to insult me by calling me “tit big troll”? Whatever that means!

Regardless it made me laugh.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:CS & Econ double major
IB
$340,000

Yeah sure one year after graduating

2 years.

GS?

GS is not paying 340k to anyone 2 years out of college.

This. I work at GS and would be unheard of.

[Anonymous]

Anonymous wrote:

The bank's salaries are the biggest expense and yes, pay is great at the top ones or boutique. There are smaller, regional IB firms (there are a couple in DC area too) and newcomers like M&T Bank and those pay much much less. (Big) banking has NO W/L balance. We had to work more than 100 hours and I got so many UTIs because I couldn't use the bathroom enough. My friend got shingles in his 20s. Lots of cavities (nobody had time to go to the dentist), lots of coke to stay awake. Most burned out after 2 years, went to grad school to do something else or move to the industry related to their group. Lots in research try to transition from the sell side to the buy side, where the schedule is better and $ is good. If you survive and are able to backstab most of the analysts, the bank pays for 2 years of MBA (Stern is great and in the city) and then you become a VP, make more $, torture the analysts, and backstab more to get to MD. My understand is that law is the same but with slightly lower salaries, as if you don't have partner potential, you are asked to start looking around.
IMO, going for big consulting like Bain and McKinsey is better, as the salaries are great and the W/L balance is better. The work is fun and easy too, as you don't have to implement anything, like Accenture.

Many new hires at an IB have no intention of ever staying more than two years. My DC went directly from undergrad into private equity, which is fairly uncommon. Many IB hires use banking as a path into PE, and actually interview in the fall after graduating to move to a PE firm after two years at a bank. Those kids are going from the frying pan into the fire. There is no w/l balance in PE, especially during Covid because the deal flow has been insane. Like the cavity story above, my DC finally went to the dentist this week (after two years and tons of prodding by us) and the dentist referred DC to a specialist because teeth have been ground down (stress) and jaw has been impacted. IMO, no amount of money is worth the terrible lifestyle, but it can be intoxicating to a kid just out of college.

PE=TMJD. Sorry to hear that. Hope that your kid gets some relief soon. I turned to PT and traditional Chinese medicine after my stint in Chicago advertising that was causing me myriad issues. Glad to have escaped.

[Anonymous]

You’re all nuts! Who posts about their kids’ Daley. This is taking it to another level. Helicopter parents. Your kids should’ve hidden their salary

[Anonymous]

Anonymous wrote:You’re all nuts! Who posts about their kids’ Daley. This is taking it to another level. Helicopter parents. Your kids should’ve hidden their salary

Salary*

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do investment bankers really make 300k after 2 years?

If you can make it past year 2. 90% of people couldn’t.
And 300k isn’t even a lot in nyc.

There are many, many 3rd year investment bankers NOT making 300k, even within the 10% that stay. 200k easily doable in year 3. 300k rarer

Evercore reported its fourth quarter results today. In doing so, it revealed that pay per head for 2021 was close to seven figures on an average basis.

"Evercore employed 1,950 people in 2021, and as Financial News reported, it paid them an average of $948k each. This was 26% more than its average compensation of $755k per head for 2020."

https://www.efinancialcareers.com/news/2022/02/pay-evercore-pjt

[Anonymous]

CS & Physics from UVA Spring 2021
Software Engineering
$110K plus signing & stock & bonus in Virginia technology office

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do investment bankers really make 300k after 2 years?

If you can make it past year 2. 90% of people couldn’t.
And 300k isn’t even a lot in nyc.

There are many, many 3rd year investment bankers NOT making 300k, even within the 10% that stay. 200k easily doable in year 3. 300k rarer

Evercore reported its fourth quarter results today. In doing so, it revealed that pay per head for 2021 was close to seven figures on an average basis.

"Evercore employed 1,950 people in 2021, and as Financial News reported, it paid them an average of $948k each. This was 26% more than its average compensation of $755k per head for 2020."

https://www.efinancialcareers.com/news/2022/02/pay-evercore-pjt

Link didn’t work for me.
This can’t be for new graduates.