Meanwhile, in Boston.
It's the time of year for post-bonus job moves. It's also a year when - if you've been based in New York City, you might feel inclined to look for a job somewhere like Miami instead. - Jason Mathews, the partner who let equity derivative sales at Goldman Sachs quit yesterday and is thought to be doing just that: insiders suggest Mathews is going to a Miami family office, although this hasn't been confirmed.
How much will you earn if you leave NYC for a buy-side job elsewhere?
Visitors to forum website Wall Street Oasis have been aggregating precisely this information in a shared document for the past few years. The document received almost no new submissions in 2020, but following a rush of new entries in early 2021, we've added the contemporary data to the chart below.
The answer seems to be that you can earn reasonable money on the buy-side outside NYC and you may even get to work less. - While bankers on Wall Street Oasis are complaining bitterly about their 100+ hour weeks, almost none of the buy-siders elsewhere say they work more than 60 hours. Best off is the Boston AVP in a private equity funds, who says he sometimes works as little as 30 hours a week for a salary of $150k and a 60% bonus....
Photo by Michael Browning on Unsplash
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