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Originally posted by: ngvepforever2
Originally posted by: cchen
Originally posted by: cain
Originally posted by: cchen
Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!
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wait, is DB actually paying interns overtime?
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hell yes they are paying overtime. think about it, saturdays and sundays=all over time!!!
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umm... no other bank pays overtime. no other bank has ever paid overtime.
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I work in the information system department of a bank and I get paid overtime. Then again, not everybody can work for the largest credit union in the world (NFCU).

Regards

ng
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you're in IT.... you're not a banker
 
Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!
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yea so I told my friends who are at MS, ML, GS, CSFB... they're very pissed lol
 
Originally posted by: HardcoreRobot
Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?
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making money by playing with someone elses money
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you're actually referring to trading. ibanking deals with structuring the deals that companies want to make, issuing debt, etc
 
Originally posted by: cchen
Originally posted by: cain
yeah i wish i were in ibanking. a friend of mine working for DB can make up to 25K this summer, dang that's more than enough to pay for tuition!
Click to expand...


yea so I told my friends who are at MS, ML, GS, CSFB... they're very pissed lol
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haha that sucks. i calculated that a first year GS analyst makes about 20/hr, hehe. which is only slightly higher than what i am getting paid right now.
 
Originally posted by: cchen
Originally posted by: HardcoreRobot
Originally posted by: archcommus
Can someone tell me what this even is, and what area of study leads to it?
Click to expand...
making money by playing with someone elses money
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you're actually referring to trading. ibanking deals with structuring the deals that companies want to make, issuing debt, etc
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trading >* ?
 
I'm guessing that since DB is not doing very well, they're trying to retain more of their top analysts...
 
from what my other friend who told me (he's full time at db, not ibanking), there are a lot of inefficiencies. but i am not sure if it's only db, or if it's inefficiency that arises from a big company
 
perhaps, but DB doesn't have a great reputation on the street... everyone who got an offer from them rejected them. but if we had known they were paying OT, i probably would have gone to DB
 
Originally posted by: cain
Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.
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that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader
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probably just well connected.
 
Originally posted by: gigapet
Originally posted by: cain
Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.
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that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader
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probably just well connected.
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Probably? I thought you knew the guy?

Traders only make that much when they are good and making 25x their compensation for their firm. Being connected can get you a job, but not ensure the big bucks/responsibilities


-xtravistx
 
Originally posted by: xtravistx
Originally posted by: gigapet
Originally posted by: cain
Originally posted by: gigapet
I know a bond trader that just signed 2.5 million dollar 2 year contract. He is 25.
Click to expand...

that's pretty bad ass. traders get paid a lot, but if this man is only 25 right now, i would say he must have been one hell of a trader
Click to expand...

probably just well connected.
Click to expand...


Probably? I thought you knew the guy?

Traders only make that much when they are good and making 25x their compensation for their firm. Being connected can get you a job, but not ensure the big bucks/responsibilities


-xtravistx
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it never hurts to be well connected. afterall, it's always easier when someone brings you through the door. the rest is up to you. i wouldn't mind having a couple of good connections.
 
most banks pay summer analyst/associates a stub bonus at the end of their 10-12 weeks...i've never heard of anyone getting anything rated (OT) tho

some of the banks recently reported 1st/2nd/3rd year analysts bonuses and they're ridiculously high this year: 60k/80k/100k...that's a lot of green for a 24 year old kid...which probably explains why so many people want to sell themselves for a few years after graduation...
 
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