Here's how much 22 year-olds earn on Wall Street
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.