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| Date: |
10 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| BIG 4 - yr1 £28k, yr2 £30k, yr3 £33k, yr4 £60k, yr5 £70k = £0.2m
FRONT OFFICE IB - yr1 £80k, yr2 £150k, yr3 £200k, yr4 £275k, yr5 £350k = £1.05m.
Hmm, that's a tough one! |
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| Date: |
10 Jul 2008
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| Name/Email: |
secretary to the chief junior internal auditor ()
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| Company: |
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| Or: BIG 4 - yr1 £28k, yr2 £30k, yr3 £33k, yr4 £60k, yr5 £70k = £0.2m
FRONT OFFICE IB - yr1 £80k, yr2 £150k, yr3 whatever I can get from efinancialcareers.com for writing a weekly diary about being unemployed.
- I think was the point of the article Henners.
p.s. shouldn’t it have been “big 4” in small caps vs. “FRONT OFFICE IB” to emphasise your IB alpha maleness?
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| Date: |
11 Jul 2008
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| Name/Email: |
Peter ()
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| Company: |
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| Yeah great Henry, unfortunately for the majority of new entrants and many recently released staff, the second line of employment you listed does not exist any more, at least for the next few years anyway.
The fact is that for the people who don't have a job, most still won't have one for a fair while yet. This article is obviously written in a climate where just GETTING a job is the real challenge. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Ex-Big 4 ()
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| Company: |
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| it's a good shelter under current headwinds. stay at least 2 yrs b4 the mkt picks up again 2010 as hoped |
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| Date: |
11 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| Yeah totally Peter, if you're not good enough to get into IB, go to the Big 4. No matter if bull or bear market, this always happens. The Big 4 attracts a significantly inferior calibre to front office counterparts - typically with just ABB A-Levels and a degree from a generic red-brick and limited experience, compared to the top notch IB peers. If you're good, then no matter what the markets are like, £1m gross in your first 5 years is a totally achievable target. If you can't cut it, then the Big 4 may indeed be what you have to resort to instead. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Mint ()
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| Company: |
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| For someone as uber-successful as Henry here purports to be, it is interesting that he can find the time to comment on every article that appears on efinancial. Get a job Henry. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| I am writing every post from a top investment bank. Ask eFN's IT guys if you don't believe that. In my job, I have ample time to do what I want over the days whilst still making an enormous P&L. The attitudes of some people on this site, that working hard to get a string of pointless qualifications, or being chained to your desk on Excel 100 hours a week with no procrastination will lead to career success, are utterly dumbfounded, and if you actually make it into front office IB you'll see what I'm talking about. P&L and "working hard" are poorly correlated, and being likeable by the people that matters is more fundamental. I am literally one of the most successful people my age in the City, and it hasn't been through spending every hour of the day working solidly. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Mint ()
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| Company: |
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| In that case Henry, one would still have to wonder at the amount of time you spend lurking on efinancial. Undoubtedly "one of the most successful people your (sic) age in the City" would have no need or indeed, desire, to cruise a recruitment website 24/7, as the headhunters would have long since beat a proverbial path to your door. As I said Henry, get a job. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| Mint, I don't spend any time surfing the recruitment section of this site, I just have news.efinancialcareers.co.uk in my bookmarks. I like reading the articles here, and moreover am most entertained the comments following them, a bunch of failures suggesting stated salary/bonus numbers are mythical / exaggerated when they are most certainly not, self-deluded types not good enough for the front office with no hope in hell of success, and jealous losers. |
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| Date: |
11 Jul 2008
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| Name/Email: |
Henry the third (inch) ()
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| Company: |
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| Henry lets just cut to the chase - how big is it? |
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| Date: |
11 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| Doesn't seem enormous vs the surveys / 'statistics' I've seen, but many girls I've been with say its the biggest they've ever seen. Pretty fly for a white guy ;-) |
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| Date: |
11 Jul 2008
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| Name/Email: |
DCB ()
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| Company: |
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| Henry is leaving out partner earnings at the big 4 which are not bad at all, a decent tax partner will be bringing in £1m a year. Sure this is less in nominal terms than a front office high flyer but in risk adjusted terms it generally outperforms |
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| Date: |
13 Jul 2008
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| Name/Email: |
Danny ()
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| Company: |
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| DCB - true but for the pain of being a tax accountant £1m does not get close to fair compensation. Forever a geek..... |
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| Date: |
13 Jul 2008
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| Name/Email: |
Henry ()
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| Company: |
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| DCB, you're absolutely right, and being on £1m/yr in one's 30s would be far from shoddy. However, its so painful to get up there, in your 20s when all your IB friends are on a healthy 6 figures, you're still clawing your way up on rubbish £50k newly qualified salaries. The Big 4 is far too much of a sacrifice in your early 20s, which should be the best time of your life if you have money to spend on plush apartments, fast cars and faster women, instead you'll have a crap first few years all for a comfortable life like everyone else a decade down the line. |
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| Date: |
14 Jul 2008
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| Name/Email: |
Olivia ()
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| Company: |
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| Henry - what car do you drive? |
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| Date: |
15 Jul 2008
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| Name/Email: |
Been there done that ()
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| Company: |
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| Must be driving a Ferrari or something like it but then in that Ferrari sits an arrogant, self-proclaimed success at a bank which probably has fired him long back and he is still living the F.O. life...Oh Henry, I meant Front office life. But I do agree with you that Big 4 is not the answer to a bank. In fact, both of them are world's apart in terms of the work they do. So people, find a job that you will love going to and you wouldn't mind working your ass not just for the money but for the thrill of the job or the security it gives (whatever rings a bell for you).
I love trading and can do that all day long and I hate losing money but it happens at times, so its not that there is money all the time but I trade for the love of it and yeah that gets me my FAST cars, FASTER women and what not...I bet Lakshmi Mittal or Bill Gates have them too. So Henry my friend, no big deal, you still got a big mouth but that's understandable for a newly successful young lad, wait when the tide turns against you....and you bet it will, it sure will! |
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| Date: |
17 Jul 2008
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| Name/Email: |
Pro Big 4 ()
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| Company: |
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| Well said Been there done that yesterday. Henry's 'luck' will run out very soon or perhaps it has and that is why he is addicted to a recruitment website. Is it really all about money investment *anker? |
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