How do ibanks get away paying college grads in Ops less than 40k/yr?
Jesus, I know they dont produce revenue but wtf thats a hell of a lot less than the national average for accounting/finance majors (around 46/47k) a year. I mean they do work a good 50 hour a week. Damn.
i know people workin for BB's in ops who are makin 60k...where are you talking about?
That's what a friend is getting at a BB.
They make more then 40K, don't know where sleepyguyb is getting his information. I'll be interning this summer at GS in Ops and I'll be getting 55K prorated.
Few people I know who started in ops were making anywhere from 50K - 60K. If you're coming straight from campus recruiting, tack on an additional 4-8K in signing bonus, and year end bonus was anywhere from 10k-15K.
Dude, operations is not finance or accounting. You don't need to know about finance to work in ops. There are high school dropouts in operations.
I worked in IB OPS my sophomore summer and that is definitely true. High school educations are at a premium.
Looks like I get paid less then Ops guys. I really should move on to another place.
zala, finance/accounting may not be required, but that is basically what they do, at least the accounting aspect. also all of them have college degrees, i believe
I got an offer for Ops from a top 5 vault ibank and pay was 40k with signing bonus + end of year bonus. The location isnt in NYC though, I guess they adjusted to reflect COL. Lame.
HR at a BB pays 55K for 45hr/wk.
wtf is wrong with the BB I got an offer from. Its certainly a very good name.
55k is in NYC. which is not much if you consider the expenses. Its probably eqv to 40 K in a much less expensive place.
I know Lehman IT guys are making 62+8 starting then some pocket change for year end bonus (2-5K)
Ya, Id rather have 40k in city im at than 55k in NYC, but I was hoping they would save money on rent and stuff and still pay me the NYC Ops salary since it is the exact same job.
At my university operations major are right in the 46k-47k range. They are paid fairly well. My advice would be either work for a different bank or look at a different industry.
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