Friday 9:00 a.m.-6:30 p.m.
I put that I got off at 6:30 because that's when all the bankers went out, and I went out with them. Today was the day everyone got their numbers for bonus. Let's say depite the markets, they made out pretty well. The number floating around the office was 60K-70K. Apparently after talking to some people in NY, that was the high. It sounded like everyone got the high in our office. Last year's high was 90K, which tells you how much the market has struggled. I don't know what the lows were. But when you think about it 70K + 60K base salary...$130,000 is alot for your first year out of college.
I am on some pending deals, nothing live. Every Friday we have to send in a report saying how many hours we worked and what our bandwidth is. This week I worked 70 hours, not too bad since I planned on working 100 hours a week. I then decided to contact the staffer, and I said, "I am not sure how to gauge my bandwidth. I am on this deal and that deal, but I feel like I have some room to be staffed on more. However, I know if these things go through, things will heat up. I am going to leave it up to you whether I should be staffed because you are more experienced with these situations." Well later that afternoon, I got staffed on a live deal. The team in NY with the companies' management. They are coming back tomorrow. One of the analyst on the team sent me a message. "Heard you are on the team. Get ready for some pain."
Don't know what that means, but bring it:)
Tonight a bunch of bankers went to a bar (I assume to celebrate their new cash flow) and wanted me to come. Honestly? I had a really good time. As we were walking out one of the interns turned to me and said, "Man I always feel like they are evaluating me." I was surprised this intern felt that way and said, "you know I think its kind of crazy because I have only known these guys for a week and yet I feel like they are close friends. I felt the complete opposite." As we kind of talked about reasons why I felt so comfortable this intern said, "I have probably heard it from 6 bankers that you have the best attitude of us all." Earlier in the day the intern that shares my office with the associate said that he has a hard time reading the associate.
Here is my response and advice I give--granted this is only my first week. As soon as you realize that everyone puts their pants on one leg at a time like the rest of us, you will learn that bankers are normal people. The professor who hosted our conference call mentioned how students from our school can be a little over aggressive when trying to build relationships. I can totally see that, and I have found some things that work for me. #1-be yourself, if you feel uncomfortable or awkward conversing with a banker its probably because you are not yourself and trying earn brownie points by intelligent but irrelevant questions, or by trying to sound smart. The other thing I would say is, try "dating them"--not literally, but in the beginning, you're not going to be smothering, and you may be more cordial than normal but as you get to know them you will find out where you can joke with them and where you can't. Don't try so hard--they can see it.
I don't know if that helps much but, things will come naturally, don't push it.
It looks like this weekend will be light. Good chance I will have Saturday and Sunday off.
2 comments:
Blake, does this mean YOU will be making 130K a year or just associates?
No bro! This is the analysts that will be making 130K. So yes, this is how much I will make. I am not sure about the associates. I think base pay is 80-90K with bonus of 150-200K for a total between 230K-290K for the associates? That is what a MBA will do for ya! I should expect to make somewhere between 100-150K for my first year out of college. Depends on the market and my personal performance, but look these analyst make 130K in a bad market, last year they were making 150K.
Post a Comment