Wondering how much you'll earn in the first year of your banking career on Wall Street? Blog site Mergers and Inquisitions has been making some predictions. If you're a banking neophyte they look pretty promising.
In year one of your career in investment banking on Wall Street (as a first year analyst), M&I predicts you'll earn up to $152k (£97k). This increases in years two and three as follows:
- 1st Year Analyst Total Compensation Range: $142K to $152K
- 2nd Year Analyst Total Compensation Range: $160K to $180K
- 3rd Year Analyst Total Compensation Range: $195K to $215K
Excited? Don't be. M&I manfully admits that its predictions have been wrong in the past: in 2013 hoped-for $63k bonuses turned out to be $55k and in 2010 the predicted $65k bonuses were just $48k.
Now and then, M&A undershoots, however. Last year, bonuses for first year analysts were 27% higher than the predictions. 2015 may turn out to be a good year too, but don't bet on it just yet.