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February 25, 2008
Fun with I-Banker Compensation
Last year was a crummy one for investment banker compensation, with profits falling, less cash to go around, etc. Right? Well, not entirely. Consider the following compensation chart (via IDD) for various species of bankers in 2007.
How bad can it be when newly minted bankers are still doing $400k for pushing paper and taking abuse from their seniors?
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I applied for many entry level I-banking positions for this upcoming year after I graduate and could never get past the second round of interviews. Either I am not Wall Street enough or it got a lot tougher to get into this year.