How I Spend my NYC Bulge Bracket Investment Banking Salary | How much I ACTUALLY Make & How

Hi friends! Welcome back to my channel. In today’s video, I cover a frequently asked question which is how much I make. As a brief background about myself, I’m currently in my second year of investment banking in NYC, and I make career and travel videos here on YouTube as well. Which one’s the side hustle…? We’ll see.

Hello and welcome back to my channel i’m angela for those of you who don’t know me i’m a second year investment banking analyst working in new york city and i do career videos and travel videos here on youtube today i’m going to be covering a very important question that a lot of people have been asking me how much are you paid as an investment banker before i

Get into it if you could just hit the subscribe button and the like button for this video so that i can keep making more please do so i’m not going to beat around the bush let’s just get straight into my compensation so i work at a bulge bracket bank in new york city and i’m in my second year of investment banking when i first joined my base compensation was

85 000 now that’s pretty much unanimous across the street most bullish bracket banks pay 85 000 base for their first year analyst investment banking salaries are composed of a base salary as well as a bonus now the bonus varies from firm to firm but generally for mulch bracket banks your bonus will be about 70 percent to a hundred percent of your base salary

Depending on one your performance and two how well your group and how well the bank did that year so the way your bonus is decided is that there are end of the year reviews and in the end they’re going to rank you amongst all of the other analysts within your class or just all of the analysts within the bank overall and what they’ll do is that they’ll gather all

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The reviews from you and then you’ll be ranked and then you’ll be segregated into different buckets again what kind of bucket you’re in and how much money each bucket is paid varies but that is essentially how your bonus is determined so being in my second year of investment banking i did get a slight pay raise and that’s common from year to year simply because

I was promoted from a first year analyst to a second year analyst the way it works is that you are an analyst for three years before you become an associate for another three years and then a director for another three years and then after that you are an executive director this naming varies from firm to firm but that’s pretty much usually how the role works

When you’re an executive director the next rule after that is managing director and for executive directors their timing isn’t segregated to just three years like all the other roles previously have been that depends on their performance and how many clients they can bring in and oftentimes for more senior positions that’s how their bonus is determined by the

Number of deals that they’re closing however when you’re a more junior person like myself your bonus is determined by the bucket that you’re in and that’s determined by people’s review of you and how they think you’ve worked across the entire year so now that i’ve covered my compensation i want to go into how that’s spent so for me that money goes into three main

Buckets one my 401k two my bank savings and three my expenses so firstly i’m just going to quickly go over what an investment bankers expenses will generally look like so i stay in manhattan and i lived in the master bedroom out of a two bedroom apartment and my rent per month was about eighteen hundred dollars beyond that there’s also food expenses so at my

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Firm and for most investment banks they will offer nightly dinners from seamless so there will be either a 25 or 30 dollar cap for you to order dinner from seamless and the firm will pay for that and that’s for maybe 7 p.m or beyond if you’re staying so usually on weekdays my dinner will be covered by my firm and to try and save money and because there was so

Much food that i could order with 25 i would usually save half of that for lunch the next day and just heat it up so usually during the weekdays my expenses for meals were almost zero that’s unless i didn’t have food saved over for lunch the next day where i would go out and buy a meal and that would usually be around ten dollars in terms of weekends i usually

Eat out i know eating out isn’t really the best way to save money eating out is really expensive especially at restaurants in new york but for me eating out and food is a passion of mine if you want to check out my food instagram it’s sunny eats and that’s where i post all the food videos and restaurants that i visit i’m a huge foodie so as a result i’ll usually

Try and eat out on a friday night if i get out of work in time or on a saturday night in addition to that groceries i don’t buy too many groceries i’ll maybe do one grocery run every month just to buy things like juices and things that don’t easily go bad and so my monthly expenses for food will generally be about 400 or so i would say i spend about 100 on food

Every week and that’s mostly coming out of my weekend expenses aside from that i also have other expenses like transportation so the way i get to work is usually by subway in the morning and when i go back at night i’ll generally take an uber again most investment banks have a policy where if you stay past a certain time they will expense your uber ride home so

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I’ll generally take an uber or lyft or a taxi to get back home and so i save money on that and so my transportation expenses aren’t very high it’s just for the subway and usually on the weekends if i need to go anywhere i’ll again take the subway if you need to go into the office on the weekend it’s also expense by the company and just in terms of shopping and

Other personal needs i’d say i don’t really shop that much i don’t have too much time to just go shopping in person but i will online shop from time to time i might need to refill on my skin care or buy some new work clothes or things like that so i put my monthly expenses for shopping on average at about 50 to 100 or so not more than that because there are

Months where i just don’t buy anything so all the rest of the money that i have goes into both my 401k as well as my bank savings account honestly my biggest expense from month to month is my rent but in general that’s how much investment bankers are paid it’s pretty much standard for most firms especially for bulge brackets in new york city let me know in the

Comments down below if you have any other questions i’d be happy to answer them next please like this video if you enjoyed it and found it helpful subscribe for more videos like this and hit that bell to turn on the notifications so you know whenever i post a new video and i’ll see you guys in the next one bye

Transcribed from video
How I Spend my NYC Bulge Bracket Investment Banking Salary | How much I ACTUALLY Make & How By Angela