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I'm sorry that's just frankly not possible. Even with your lowest value of 300k a year and you're hours value of 100 hours a week you're looking at ~60$/hour as
by nathanvanfleet 12y ago
I'm sorry that's just frankly not possible. Even with your lowest value of 300k a year and you're hours value of 100 hours a week you're looking at ~60$/hour assuming they have no vacation or time off. Now look at the minimum wage and realize it's still many times that. I have a lawyer friend who says the same thing as you, and I seriously doubt it's so over the long run.
- storgendibal 12y agoI think the saying comes from junior bankers and lawyers, before their first bonus check, although even then, the math does not work out to minimum wage. When I graduated college, base salaries in banking were about $65,000, which leads to $12.50 / hour. After their first bonus check, this doubles, of course, but that first year can feel pretty bad. Still not minimum wage, but I think the point they want to make is that, yes, we make lots of money, but is it worth it with the hours. In comparison, a $120,000 tech job at a big company (not counting equity), working 40 hours a week with 2 weeks vacation comes to about $60 / hour. The difference is that the professional services compensation grows at a much faster rate than the tech compensation, unless you happen to pick the next Google/FB/whatever and get on-board early on.
- army 12y agoHey, he's too busy working 300 hours a week to worry about things like "averages" and "mathematics".
- storgendibal 12y agoNot sure who "he" is that you are referring to here. I've never worked in finance. I was just relating what people in finance have told me.