What Do Investment Bank Traders Really Get Paid?

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  • Опубликовано: 21 ноя 2024

Комментарии • 1 тыс.

  • @InstituteofTrading
    @InstituteofTrading  5 месяцев назад +2

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  • @218coolman
    @218coolman 6 лет назад +2414

    Every student in this room is rethinking their career choice right about now.

    • @Atombender
      @Atombender 6 лет назад +67

      Back to social studies I guess!

    • @jas7869
      @jas7869 5 лет назад +4

      Jacob Sellers I guarantee it!

    • @TsarOfRuss
      @TsarOfRuss 5 лет назад +152

      this video explains why rich people hates paying taxes

    • @mardipring9446
      @mardipring9446 5 лет назад +2

      @LazicStefan lol

    • @everardorabadan5858
      @everardorabadan5858 5 лет назад +10

      Not just in that room fam!

  • @georgiadogs231
    @georgiadogs231 4 года назад +435

    "I consider a business card what you put in the ATM" This guy is a beast

  • @ericharrington5928
    @ericharrington5928 6 лет назад +1395

    I love his "no bullshit" attitude.

    • @seanhartigan5040
      @seanhartigan5040 6 лет назад +36

      Eric harrington the dudes fucking legit. Total breath of fresh air!

    • @Treizez34
      @Treizez34 6 лет назад +23

      Eric harrington completely agreed. It's like "you either want this or you don't" , unlike some other institutional millionaire traders" selling the dream (who make more from the classes than their trading which allows the dream)

    • @O.Ez8
      @O.Ez8 6 лет назад +4

      @Treizez34 aka the Instagram traders smh

    • @alexruksens6374
      @alexruksens6374 6 лет назад +1

      Eric harrington I

    • @chili24137
      @chili24137 6 лет назад +15

      He's one of the most arrogant sounding people I've ever listened to.

  • @LordTrayus
    @LordTrayus 6 лет назад +1162

    I think most people who criticize his definition of a "basic" life in Central London are missing the point. He's trying to clarify that while 8.3k a month and 50k bonus is comfortable, it's nowhere near enough to live like Jordan Belfort in Wolf of Wall Street, which is precisely what most people think happens on Wall Street. You're still going to be eating out only a couple nights a week. You're still going to be renting a 700sf apartment. You're still not buying sports cars, and if you do, you won't get the chance to drive it. Most bankers live simple lives. The outliers who misbehave get fired for gross misconduct or washed out. Only once in a couple decades do you get Leo DiCaprio to play out your life on the big screen.

    • @jeremykannegieer106
      @jeremykannegieer106 6 лет назад +43

      why is this comment not getting more attention?

    • @OzOz255
      @OzOz255 6 лет назад +8

      FACTS

    • @elcapitalista007
      @elcapitalista007 5 лет назад +5

      Right~

    • @thealaskan1635
      @thealaskan1635 5 лет назад +10

      You don't get paid compared to New York. I think it's worse there because there's a higher tax bracket there.

    • @thinhtranba5352
      @thinhtranba5352 5 лет назад +4

      Where did you get the 8.3k per month? He said you only make at most 40k per year...

  • @Reelworthy
    @Reelworthy 6 лет назад +1476

    moral of the story... not worth it. Farming never looked better.

    • @freemindboss9945
      @freemindboss9945 6 лет назад +27

      Reelworthy are you farming now?

    • @BMH1965
      @BMH1965 6 лет назад +20

      Have you tried to buy land! Renting enough land to make a good living is nearly impossible and no-one will sell you enough land to pay a good living from farming. Most farmers are tenant farmers and the very few ultra rich land owners (like Lord Halifax or The Crown Estates for example) make most of the money from land use with zero risk - they get their rent money even if the produce prices are low.

    • @evanfoulds4091
      @evanfoulds4091 6 лет назад +23

      I have realised that UK Real Estate is hard to get into due being on a small island. In the US I can get around 10 Acres and a 4 Bed farmhouse for around $350,000 (Inbetween Philly & NYC)

    • @ONEMANUNITX
      @ONEMANUNITX 6 лет назад +1

      exactly

    • @paragonrealtyteam4914
      @paragonrealtyteam4914 6 лет назад

      HAHAHA. LOL

  • @GMoretti-ux1pe
    @GMoretti-ux1pe 2 года назад +86

    I watched this in 2020 in the middle of my Finance degree and completely changed my perception on the industry. I now work in Fintech and make ~$80k in my entry level, never work past 6 and have great growth prospects.
    I hope more people see this and realise there's other paths to work in finance that can be just as lucrative without the modern slavery part

    • @EagleLogic
      @EagleLogic 2 года назад +3

      How stressful is it? I am nearing the end of my PhD in physics and consider investment banks/hedge funds more and more each day. They seem to suck up a handful of us MS/PhD's from my university each year.

    • @femiairboy94
      @femiairboy94 Год назад +2

      It depends on What you mean by stress. For me I consider it a responsibility and it keeps me on my toes mainly because I’m dealing with peoples lifesavings. To others that could be stress, to me that’s responsibility because it pushes me to know more and be better at what I do. I also have a degree in physics, didn’t go past BSc. Now I’ve learnt python and I use that in my day activities. The investment sector is huge and you have to know what part of it works for you.

  • @RedCandles_
    @RedCandles_ 6 лет назад +1146

    If you don't work for yourself, you'll always live on someone else's terms.

    • @Trazynn
      @Trazynn 6 лет назад +105

      Exactly. You're a freelancer? You're still the client's bitch. You spend one third of your time acquiring clients, one third dealing with clients, and one third actually doing the work you're paid for.

    • @user-hx7yi6wx5k
      @user-hx7yi6wx5k 6 лет назад +85

      If you work on your own, you'll always be working for the customers

    • @t100base
      @t100base 6 лет назад +29

      @decentradical client is not a boss, and you get the full amount of the contract rather than an hourly pay.

    • @LordTrayus
      @LordTrayus 6 лет назад +55

      decentradical And this is why you will never succeed. You see dealing with clients as a hassle. If you run a business, you are offering a service. The "freedom" comes from having the flexibility to decide HOW you want to offer that service and what YOU think is best for the client as opposed to listening to someone dumber than you but is your boss because he has "seniority." You should be striving to put satisfied smiles on customers' faces. And that in turn should give you satisfaction that you made someone's day better. And in return for that satisfaction, the customer rewards you with currency. Now do you get morons? Absolutely. But by and large, people just want to buy a product or a service to satisfy a need and walk away without feeling cheated.

    • @Bobafe77a
      @Bobafe77a 6 лет назад +7

      @@LordTrayus you speak the truth

  • @WJGSix
    @WJGSix 2 года назад +83

    Dude, I felt my dreams get crushed listening to this guy and I never even wanted to work in finance lol

    • @delpiso88
      @delpiso88 2 года назад +9

      He kept it real

    • @jonasdauerbrenner6432
      @jonasdauerbrenner6432 Год назад +3

      dude, dont be. its ruthless out there and if you really want it, you can get it. just like he did.

  • @Itsallagame1984
    @Itsallagame1984 6 лет назад +888

    This is actually fucking hilarious you could hear the students souls leave their body.

    • @5orgen51
      @5orgen51 6 лет назад +49

      Just scaring off the weak ones

    • @Luuxs
      @Luuxs 3 года назад +57

      i love how he just has to fight off his laughter in this video :D

    • @connor5455
      @connor5455 2 года назад +12

      @@5orgen51 scary off anyone who has sense - so much more money to be mad in other fields with way better work life balance. No brainier.

    • @Harrisao
      @Harrisao 2 года назад +1

      A dose of reality kicked in for sure

    • @EOTA564
      @EOTA564 2 года назад +6

      Could be worse, you could be a junior doctor working in the NHS in London.

  • @30daymissionman
    @30daymissionman 5 лет назад +401

    This guy is loving destroying people’s dreams !! 😂

    • @BB-zv8tx
      @BB-zv8tx 4 года назад +22

      This guy just helped me decide my path with this video. I'll start my undergrad this september and in the first year at my university, you don't really have a major. I thought about getting into either consulting, banking or politics via international relations. banking is definitely off the table and more than forgotten on my side. I've oftentimes heard how shit of a business banking and especially IB is, but I refused to believe it. Now I finally understood why I should not go into banking.

    • @TroyResuqw6789
      @TroyResuqw6789 4 года назад +7

      nah he actually did the opposite thing

    • @joeballer4036
      @joeballer4036 3 года назад +1

      being an investment banker isn't a noble dream

    • @laupeter4594
      @laupeter4594 3 года назад

      but most of them will still get a bonus which is non existent in other industries.

    • @MCorrigan
      @MCorrigan 2 года назад

      @@laupeter4594 but for the amount of time you have to put in to it, is it worth it? You literally give up your life for the bank and don't for one second think you're going to be treated well at junior level. I have known people work in investment banks and it's not a glamorous job. They drive average cars, they life an average life. It's no longer now movies like The Wolf of Wall Street portray it to be. For me, it's simply not worth it. You're better of trading from home if you think you're that good at it.

  • @joshclayg
    @joshclayg 5 лет назад +211

    Moral of this story:
    Comfortable and basic lifestyles are subjective terms.

    • @TheSimpleDudeOne
      @TheSimpleDudeOne 4 года назад +22

      moral of this story: most people don't recognize the difference between gross and net.

  • @TheJayMajethiya
    @TheJayMajethiya 5 лет назад +474

    "If you are going to give up the best days of your life i.e. the 20s, waking up in a dark and coming back in a dark. Working 14 hours per day staring at the algorithm on the computer desk, you should know how much you are getting compensated for that." - Anton Kreil

    • @jackmiddleton2080
      @jackmiddleton2080 5 лет назад +43

      Without money what else are you going to do? Play video games from 20 to 30.

    • @iphoneusdsd
      @iphoneusdsd 5 лет назад +10

      Im a computer nerd, I would love to do that.

    • @max0x7ba
      @max0x7ba 4 года назад

      @@jackmiddleton2080 You do both.

    • @ZygimantasA
      @ZygimantasA 4 года назад +19

      @@jackmiddleton2080 I admire people who spend their 20's doing whatever they like. That's why I don't understand why people want to leave their parents' houses at 18 so much and live, voluntarily in poverty.

    • @jonnyfranco7
      @jonnyfranco7 4 года назад

      🔥

  • @CloroxBleach-co9ei
    @CloroxBleach-co9ei 5 лет назад +352

    I love how he slightly giggles after everything he says

    • @aza1479
      @aza1479 4 года назад +1

      I have holdings in CLX

    • @sund5
      @sund5 4 года назад +2

      Clx cant produce the amount people want to buy these Days!!
      #Corona Virus

    • @aubrey2233
      @aubrey2233 3 года назад +1

      he's a sneerer

    • @uknasa007
      @uknasa007 3 года назад

      @@aza1479 whats CLX?

  • @shayk2365
    @shayk2365 5 лет назад +330

    The take away for me was
    Well you could but you’d live a basic life.

    • @flightevolution8132
      @flightevolution8132 4 года назад +5

      Well you clearly weren't listening very well. Is making 200k and working all hours of the day a basic life? Where the hell do you come from

    • @StupidBadyXD
      @StupidBadyXD 4 года назад +9

      FlightEvolution you will be working 70 hours a week, on a little bit more expensive apartment, eating out every now and then. That’s a basic life. He is trying to destroy the perception that people think they will all become like The Wolf in Wallstreet people. Which is not possible.

    • @theWebWizrd
      @theWebWizrd 3 года назад

      @@flightevolution8132 You very obviously were not listening if you managed to not hear the ten times he said "You'd live a basic life" in the video. That was his ENTIRE message. He suggested in the video that at the VP level, you'd be able to save about 1000 pounds a month. That's it. If that's your margin, you are most certainly not living a life in luxury.

    • @Jameslawz
      @Jameslawz 3 года назад +2

      I think the point people missed was the perception of traders in the media living this luxury life when in actual fact..."You'd live a basic life" in comparison. Especially if you're living in the city where rates are higher.

  • @adequatequality
    @adequatequality 3 года назад +80

    This is a very important lecture that anyone applying at an IB needs to watch so we can weed-out the misguided from the doomed.

  • @gts1067
    @gts1067 6 лет назад +62

    hes really getting a kick out of this and who wouldnt

  • @habituallinestepper2883
    @habituallinestepper2883 6 лет назад +724

    you can hear a pin drop in this room

    • @stuco81
      @stuco81 6 лет назад +35

      He's wearing a lapel mic, its not gonna pic up anything in the room.

    • @Matt-nr5re
      @Matt-nr5re 6 лет назад +4

      I did not hear it

    • @Indygoflow1
      @Indygoflow1 6 лет назад

      What's wrong with 40 gs?

    • @hugostiglitz6914
      @hugostiglitz6914 6 лет назад +1

      10of Coinz I listened to the vid again and I couldn't hear it!

    • @rmarques1
      @rmarques1 6 лет назад +30

      I heard a lot of hopes and dreams being shattered the more he spoke lol

  • @mitchgilbert6894
    @mitchgilbert6894 4 года назад +64

    This guy is the best realest on the planet .. he’s seen stock market dips deeper than any man alive has seen; I can see it in his eyes.
    Mans been to war in the markets.

  • @MrDomestosWC
    @MrDomestosWC 3 года назад +73

    He crushed it. I'm glad I didn't go to IB even though I was offered to go right after my engineering degree completion. I became a structural engineer instead and I thought I was getting peanuts compared to IB guys. BUT, I work 37.5hrs a week. I choose to work on contracts as they pay better. 45/hr typically. Work from anywhere you want, show up occasionally at the office. Get paid about 8k/month gross on contract and do little side jobs, add 1.5-2k typically. So say 9.5k a month. The thing is, I run ltd so I'm able to throw in many expenses into accounting. Smart accountant is important. I end up paying about 5k in taxes at the end of the year. So in theory, I make more than IB, I work less than IB, and I have the choice of working anywhere closer to London but definitely not close to central London because that would kill all of it. I managed to find a gf while doing that (now wife) and started a family. I enjoy spending time with my daughter. I still think IBs make more than he says, otherwise who would sacrifice to work that many hours?

    • @Robert-pq3sb
      @Robert-pq3sb 2 года назад

      What do you study bro

    • @LordTrayus
      @LordTrayus Год назад +1

      It's not necessarily IB that makes good money but rather what you do AFTER IB. Most hedge funds and private equity shops pay upwards of a million if you make it into a middle position (more experienced than entry but not quite management). That usually takes about 10 years or so to attain so you'll be in your mid 30s or early 40s with a 7 figure bank account. Now is it worth the grueling lifestyle? Depends on who you are, I guess. You won't be getting your 20s back. But you get paid for sacrificing your 20s.

    • @shaehroz
      @shaehroz 3 месяца назад

      this is the dream right here fellas, hope it's only got better 3 years later.

  • @SecretAgentMan00
    @SecretAgentMan00 6 лет назад +127

    Companies have quotas on Managing Directors, similar to how the military has quotas on Generals.
    No one moves up the ladder until one already on the ladder leaves.

    • @grahambutler734
      @grahambutler734 5 лет назад +2

      They can bring people in externally as well.

    • @Jefe_De_Jefes
      @Jefe_De_Jefes 3 года назад

      @@grahambutler734 it’s very rare. Even being brought in as a VP is very rare. Most people start from the bottom up

  • @SlashnKashmir
    @SlashnKashmir 4 года назад +16

    This video should have been screened to all senior students in all universities. Because this is accurate for all majors

  • @tieronemanagement2273
    @tieronemanagement2273 4 года назад +28

    People and the media have confused investment banking with private equity. IB is incredibly unsexy, filled with long hours and basic takes such as powerpoint creation. PE is slow but the cash is far and above better when you hit it big.

  • @timothyoja2143
    @timothyoja2143 3 года назад +24

    I think spending 10-25 hours a week on your own personally managed investments, and holding a regular full time job is the move

  • @ryanwagner6715
    @ryanwagner6715 4 года назад +32

    I can respect that he is speaking from experience. I much appreciate the honesty . In life , I’ve learned that approaching the world through the leases of realism pays in dividends.

  • @void7799
    @void7799 4 года назад +89

    If you’re gonna work 80 hours a week for ten years, pick a nicer city than London

    • @whotube88
      @whotube88 4 года назад +5

      Literally the best city for a 70 hour week job if you can afford it.

    • @slicklol
      @slicklol 4 года назад +3

      @@whotube88 the weather is amazing /s

    • @DeuPKay
      @DeuPKay 4 года назад +1

      @@whotube88 Literally isn't.

    •  4 года назад

      If you can afford it and living there doesn't affect your standard of living then there's no issue, if it does affect you financially then don't live there, simple.

    • @Fluid36
      @Fluid36 3 года назад +10

      Who cares about the weather when you are working 70hrs a week?

  • @MoneyR8
    @MoneyR8 6 лет назад +166

    2008 killed IB. Tech is where the money is now.

    • @dr.elias.machinelearningde1809
      @dr.elias.machinelearningde1809 4 года назад +5

      I make between 10k - 12k per month in the last 8 years or so. Im 39 now and work as a freelancer. I don't even have a car nor do I own a house lol.

    • @eriklofgren9087
      @eriklofgren9087 4 года назад

      You are absolutly right!

    • @ZygimantasA
      @ZygimantasA 4 года назад +17

      Tech requires investment. Tech companies still go public. M&A's still happen every month. So, Investment banks are always relevant, however, it's not as sweet as people think. Same with corporate law.

    • @MrJason005
      @MrJason005 4 года назад +5

      Tech is where the money is *for now*

    • @TroyResuqw6789
      @TroyResuqw6789 4 года назад +4

      it's actually the same thing. Being a tech developer is as hard as an IB. unless you start your own business.

  • @markushelander4284
    @markushelander4284 5 лет назад +42

    Man, those bags don't lie

  • @JoaoSilva22222
    @JoaoSilva22222 5 лет назад +28

    This guy is amazing! Saw him on tha reality show about investors, he made his way by working early with best name in the market.

  • @ianarn
    @ianarn 5 лет назад +7

    I went for a trading job once in the city! I was only 20 or so! I got there early and they were impressed I took the interview seriously in a suit! But I walked out and the queue was unbelievable. They almost needed the Police to shepherd them for a Saturday morning interview! Unreal!!!

  • @kendall9758
    @kendall9758 5 лет назад +400

    Go to school... they said
    Get good grades... they said
    Go to university... they said
    Go work for a bank... they said
    Get a safe and secure job... they said
    Work hard... they said
    Save up money... they said
    That's risky... they said
    Buy a house... they said
    MY LIFE IS A LIE!

    • @ilparil5236
      @ilparil5236 5 лет назад +1

      exactly

    • @reprogrammingmind
      @reprogrammingmind 5 лет назад +6

      Sheep.

    • @kebman
      @kebman 5 лет назад +5

      Are you still alive, man? Uni grades _can_ be good for you, because _once_ you land a job, it's a bit safer than being without one. If you're an entrepreneur, you'll work ten times harder, but often for less, and with _way_ less security. On the flip-side, entrepreneurs are better equipped to make the best out of a poor situation.
      So here's my take on grades. I have some. And they've given me access to certain jobs that's made my life simpler. On the other hand, I'm also self-thaught in programming and a few other things. That means whenever I apply for a job - at least here in Norway - I'm auto-rejected from jobs where they require a grade within programming etc - even though I'm good at programming! So should I waste time and money on trying to get into uni to get those programming courses? Well, there's a Catch 22 for ya!

    • @dcocz3908
      @dcocz3908 5 лет назад +2

      Everything you said is True and what they told me and my friends at school. The real sad part is ... they are still saying the same thing to children today

    • @tchit8792
      @tchit8792 5 лет назад +1

      I'm glad I'm realizing this as a high school senior. Probably going to save $320k by going to a school that gives me a full-ride than paying for the "best" school I get into for this lifestyle.

  • @basselalhindi
    @basselalhindi 6 лет назад +221

    I wish there was a lecture like this required by law in every university before students have paid their first tuition fee...wouldn't that be great! That would actually make so many people's lives better. I wish I were given "no bullshit" information at the beginning of my program. I would've never chosen to study that field, but I was cheated like everyone else by a system that is held accountable to absolutely nobody anywhere in the world. Universities in this age are businesses and not concerned with the wellbeing of students or the future of the society. I only see parents nowadays as the last line of defense against these predatory institutions; and the majority of parents are failing to advise their children properly. Filling a child with false hope is as destructive as giving him no hope!

    • @niro56
      @niro56 6 лет назад +7

      *Filling a child with false hope is much worse than giving him no hope!*

    • @eskimoto4417
      @eskimoto4417 6 лет назад +4

      Dude you're Muslim they teach you that in the Koran off the first page

    • @gustavocarvalho1346
      @gustavocarvalho1346 6 лет назад

      @@eskimoto4417 lol

    • @veritasabsoluta4285
      @veritasabsoluta4285 4 года назад

      @@eskimoto4417 LMAO

    • @tspmh9127
      @tspmh9127 2 года назад +2

      If you apply for a FA position and don't even know the basics of tax, cashflow, living cost, understanding of contract, etc. then I am wondering what curriculum you get in your studies.

  • @brodobroggins
    @brodobroggins 6 лет назад +24

    Always look at it by pay per hours worked. You can get paid 120k a year but if you’re working 80 hour work weeks you’re doing just as well as 60k a year with normal work weeks. Actually worse since 120k puts you in a higher tax bracket and you’re sacrificing social life and leisure for every hour you work over 40/week.

  • @999124999
    @999124999 4 года назад +50

    Some say he still hasn’t slept since his contract started

  • @AriVovp
    @AriVovp 5 лет назад +20

    Clearly you are not selling dream here. Good work. Honestly is still the best policy

  • @Trazynn
    @Trazynn 6 лет назад +37

    I'm so glad RUclips exists.

  • @andy199121
    @andy199121 6 лет назад +374

    And then you get there, at 40, you look back on your life sat behind a desk for 70/80/90 hours a week, with some potentially hansome zero's in your bank account and realise that time is the most precious commodity you have and you have wasted it trying to gain something material, sacrificing yourself to lubricate the inner workings of the capitalist machine.
    Come your day of judgement, how important is your brand new BMW x5 going to be? your wee mansion in suburbia? All you will think about is your loved ones and favourite memories, which btw, Bob your gardner, who worked 35 hours a week had plenty of time to make, because he knew the true value of life. Bobs not all that stupid after all.

    • @O.Ez8
      @O.Ez8 6 лет назад +12

      Yeah the hours just don't match up. Your practically giving up a huge portion of your life for $ (which is the reality some ppl face)

    • @L0nd0n14
      @L0nd0n14 6 лет назад +25

      I agree however I would rather do it working for myself than making a company money like a slave.

    • @JohnDoe-fg9ng
      @JohnDoe-fg9ng 6 лет назад +65

      Some people enjoy being at the top and working nonstop and would get deathly bored working 40 hours a week, it's just personal choice.

    • @ML-gg5ij
      @ML-gg5ij 6 лет назад +6

      Bob's my uncle.

    • @DewTime
      @DewTime 6 лет назад +45

      Spartacus the fallacy you make is you think people who chase money are chasing material goods. There is so much more you can buy with money. It provides you with a level of security for your future livelihood, and that of your spouse, children, and grandchildren. Perhaps there’s a couple of charities you feel strongly about and you know the best way to help them out is to acquire as much money as possible so you can donate to them. Perhaps one day the world will end and Elon musk can take people to mars to escape but there’s only enough time to take 1% of the population. Then you will be wishing you had millions of dollars in the bank.

  • @Grofvolkoren
    @Grofvolkoren 6 лет назад +413

    Let's start a charity for these poor bankers not able to get a good meal everyday.

    • @pandora8478
      @pandora8478 5 лет назад +11

      The bankers in the UK got bailed out by tax payer after the 2008 crash. A lot of ordinary people suffered bc of austerity.

    • @danCK1990
      @danCK1990 5 лет назад +12

      Charity is exactly what we bankers need when the government does not create jobs, ship existing ones outside, force out liquidity from the economy forcefully, increase taxes without creating new lines of income and opportunities for the economy. We bankers definetly are the filth trying to sell an economy without industries, push out money where there are virtually no opportunities. Oh yes I forgot we filthy bankers also push around financial products where your savings are saved from worthless tax policies created by righteous and altruistic politicians who have only your best interest.... You are right we deserve charity because we are scum right!

    • @lordmacaulay8739
      @lordmacaulay8739 3 года назад

      😂

  • @Padderrss
    @Padderrss 6 лет назад +712

    £175k in central London a basic life?! Is this guy washing his hands in Moët

    • @aitorjara100
      @aitorjara100 6 лет назад +319

      But you gotta admit his swag level is over 9000.

    • @tylerdurden786
      @tylerdurden786 6 лет назад +46

      Yeah at that point I stopped listening.

    • @erickane8163
      @erickane8163 6 лет назад +65

      @Guy Pie bro I'm 24k a year in Stockholm central and I do warehouse work at 18, 194k a year is unfathomably lavish lifestyle
      Taxes are higher and it's one of the most expensive cities on earth to live in and I'm doing it just a bit over UK minimum wage

    • @Smithy250
      @Smithy250 6 лет назад +26

      @@xectia he's saying that that much money can afford a very lavish lifestyle. He earns 24k

    • @PianoWithAlex
      @PianoWithAlex 6 лет назад +115

      If you have a family then yeah you will live a basic life on £175k in central London, even if it is just one kid

  • @alphadragon722
    @alphadragon722 3 года назад +9

    Back in the day all my cousins who went to top unis made fun of my cousin who immigrated here at a young age and decided to drop out of secondary and work. The drop out worked hard and didn’t compare himself to no one. His boss died and gave him 100% ownership of his business which I cant disclose. He is 33 with over 3 million in the bank. The uni grads are working but they live an average life. Life has no plan. You literally cannot predict what your future will be.

  • @macrovigilance
    @macrovigilance 6 лет назад +32

    It's like starting out as a YTS in the Conference South Football league on 100 quid a week, but where you really want to be is the Premiership on 100K a week. But like Anton says the probability of getting there gives you a P number of

    • @timeandmoney84
      @timeandmoney84 4 года назад

      Great analogy. Football is exactly the same

  • @gabenight4147
    @gabenight4147 5 лет назад +65

    "I have to go return some video tapes ".

    • @NotShowingOff
      @NotShowingOff 4 года назад +2

      Gabe Night that’s only because his father owns the investment bank.

  • @ChristopherDonnerArtist
    @ChristopherDonnerArtist 3 года назад +2

    Yep, these talks inspired me to pursue my own business .
    Control my hours and effort .

  • @flipballaz93
    @flipballaz93 6 лет назад +16

    I would rather work in a bank working 70+ hrs than a min wage job

  • @index3983
    @index3983 6 лет назад +236

    "oi m8 ya got a loisence for that money?"

  • @masoomshafi7406
    @masoomshafi7406 3 года назад +9

    The amount of times he says "you'll live a basic life" really hits home 🤦🏼‍♂️

  • @catmechanic1261
    @catmechanic1261 5 лет назад +38

    If the players would get it through their heads to do their jobs "remotely", like Branson does, then the playing field levels out.

  • @killthegoats
    @killthegoats 6 лет назад +10

    I have done this - he is broadly correct. At the end of the two years, despite being relatively thrifty, having no life, being miserable and sleep deprived, I had made a few thousand. Not anywhere near enough to get a deposit on a flat. It is true that whilst you do need to live close to the office and after tax, in a progressive tax system, it's not a lot of money i.e. most grads get paid about around 30k out of uni and the difference between that and 45k after increased overheads living in central London, costs of suits, shoes wearing out from 14 hour a day wear and tear, there's minimal difference in the salaries. It's an unpleasant job and only a minority stay - the exits can be pretty good though for some people sometimes. He is exaggerating the numbers somewhat to make his points, but not as much as other commentators suggest.

    • @desfefe
      @desfefe 2 года назад +2

      Think by doing that he is also decreasing the competition on the job market, which basically means a lower supply of applicants.

  • @elliotrose8836
    @elliotrose8836 6 лет назад +1808

    This guy always looks sleep deprived lol

    • @Blashmack
      @Blashmack 6 лет назад +262

      Banking hours leaves a mark on ya

    • @elliotrose8836
      @elliotrose8836 6 лет назад +19

      vaguevoices Definitely ! I don't think I could handle it ahaha

    • @sonnykilgallon825
      @sonnykilgallon825 6 лет назад +98

      Exactly. The money is only one aspect and it isn't worth giving your life and soul for.

    • @juanyamirespinoza6990
      @juanyamirespinoza6990 5 лет назад +50

      @Anon Gambler good luck being homeless and souless

    • @pengo2007
      @pengo2007 5 лет назад +100

      @@Blashmack cocaine leaves a mark on you.

  • @RobboLeeWatchesThee
    @RobboLeeWatchesThee 3 года назад +6

    £50k is way more than enough as a young person in central London. Flatsharing is one of the best bits about being your 20s, and a reeaally nice (for 20-something standards) one in Zone 1 would be no more than £1500pppm. You'd have enough left over for hols, going out, nice food and savings. If you have a good group of friends and enjoy your job, you can live happily in London for a hell of a lot less than an investment banker.
    That said, if you surround yourself with big spenders and are desperate to keep up with their lifestyle it's a different story.

    • @desfefe
      @desfefe 2 года назад +1

      I think what he defines as the basic lifestyle is just to explain to people that on those terms you won't live the flash life with loads of money that people portray IB to be, such as buying ferraris etc.

  • @CoDHunterz
    @CoDHunterz 3 года назад +9

    I've seen this video more times than I can count but always rewatch it when it comes up as suggested - there's something so gripping about it, the level of control he has over the room, the silence of the students. (coming from someone who is in the industry)

  • @bigyeet3629
    @bigyeet3629 4 года назад +29

    Wish he had touched on the wild hours especially for analysts/associates. Also, I think he should have addressed that a lot of junior level bankers go to a PE or VC fund after a few years.

    • @CampCucumber
      @CampCucumber 3 года назад +7

      Traders do not go work for PE/VC

    • @connor5455
      @connor5455 2 года назад

      They don’t they go to hedge funds primarily

  • @caliorulz
    @caliorulz 6 лет назад +32

    Do not agree that it’s impossible to live in the city on 40k a year. No-one actually lives in the city of London. Majority of young professionals in all industries live in Zone 2 bear tube lines and train stations. I can make it into the city in 20 minutes from my Zone 2 flat. Depends entirely also on your lifestyle. If you are a member at the NED, you eat in the Dorchester, and go to Mayfair clubs every Friday and live the true trader London lifestyle then yeah even 100k a year wouldn’t cut it. But a lot of young professionals in the city or London in general don’t do that. Point is you absolutely can like on 40k a year in London.

    • @TlsChris
      @TlsChris 5 лет назад +5

      So you choose to completely ignore the bit where he says we need to be in the office by 6 in the morning? What time are we going to leave the house? 5 am? Wake up at 4? Sleep when? I get off at 10 on a very very good day.

  • @daaarkknight3513
    @daaarkknight3513 4 года назад +6

    Working for 40-50k for 2 years isn’t that bad. I mean in most jobs you don’t earn a lot in the beginning. As an Associate you earn pretty good already. And in just 5 more years you are Executive Director with a very good salary. So if everything goes well you are on a 200k salary + bonuses with 30. And here you have the possibility to get even more promotions. I don’t see the salary as a problem, because you will still earn a lot more then the average. The bigger Problem is probably the Work-Life-Balance.

  • @Hmmd111
    @Hmmd111 4 года назад +51

    "The perception of what people get paid and what ends up in their pockets is totally misguided" totally true. I am in computer sciences and when i was studying for me 40k€ (gross )was big and today when i earning it it is nothing.. the rent of the appart is half my net salary...

    • @dlogic6781
      @dlogic6781 3 года назад +4

      Yea tell me about it. I got a 5k raise with a new IT position (65k US) and i can barley survive on it and 5k increase only gave me 100$ extra after taxes a paycheck...

    • @updaet6870
      @updaet6870 3 года назад +1

      Then you are just irresponsible if you spend half of it

    • @emie3403
      @emie3403 2 года назад +2

      @@updaet6870 no. The problem is: The high paying jobs are mostly in very expensive cities - Especially in the US

    • @jacekcierpiszewski
      @jacekcierpiszewski 2 года назад

      Dude 40k€ a month is very good money. I

    • @drcola143
      @drcola143 2 года назад

      @@jacekcierpiszewski it’s a year

  • @babyfreezer
    @babyfreezer 6 лет назад +63

    The information is good but he shouldn't keep banging on about living a basic life. You can live in central london even at £25k a year, just basic. But at £40k-200k, it's definitely not basic. The only thing worth noting about being a trader is the hours you work. If you are working 70 hours a week earning £200k a year, it's the same as someone working the standard 40 hours a week earning £100k a year in terms of your hourly wage. Compared to most people, you are losing 30 hours a week for a good number of years of your life, if that's worth it to you.

    • @Crusader926
      @Crusader926 6 лет назад +9

      You're thinking to small then. Those who are wealthy and those who aren't truly have different mindsets. It is a basic life.

    • @LaidbackLuc9
      @LaidbackLuc9 5 лет назад +10

      Don’t forget there is lifestyle inflation at work here as well. When you’re surrounded by colleagues who are millionaires and any after-work drink ends up with either champagne or whisky, the £40-£80k gets down to 0 really fast. Not even factoring in the ‘conveniences’ from having a >80h workweek. Think of take-out food, Ubers, cabs, tips and coffee on the go. It is not really comparable to a retail worker earning £24-£30k.

    • @jackmiddleton2080
      @jackmiddleton2080 5 лет назад +2

      I think when you are the type of person that pursues finance you consider basic to be anything that doesn't impress people.

    • @xarmanhsh2981
      @xarmanhsh2981 2 года назад

      @@LaidbackLuc9 damn i would literally prefer a lobotomy to that life

  • @issiewizzie
    @issiewizzie 4 года назад +35

    The younger generation kept talking about the eye instead of focusing on the message ....
    This guy has lived the life

    • @BurritoSenor
      @BurritoSenor 3 года назад

      And he's not even 40

    • @laupeter4594
      @laupeter4594 3 года назад +1

      lol how has he lived a life when he only sees darkness going to and fro for work everyday? maybe he THINKS he has lived a life thats what

    • @xorealslowmd
      @xorealslowmd 2 года назад

      @@laupeter4594 we are talking about life of an investment banker, something he clearly is very aware of

  • @MusicFTW02
    @MusicFTW02 6 лет назад +77

    This makes me appreciate my job a lot more. I have a higher apprenticeship with a major engineering firm and the starting salary for me is 18k, with the first year only being in study - a majority of the time doing nothing. End salary of 40k, in a 37 hour week, in 4 years with management roles available depending on performance obviously. Investment bank trading sounds like modern slavery.

    • @zeez9650
      @zeez9650 6 лет назад +2

      palacefloor not too bad i take a ped to work still live at home saved 115k in 3 years so far. If you live like a student and most your friends are broke then you can easily save

    • @GonzoTehGreat
      @GonzoTehGreat 6 лет назад +2

      You also get a bonus! Your work is actually productive.

    • @samtavoosian3059
      @samtavoosian3059 2 года назад

      Getting any job is a form of slavery anyway

    • @alejandrolacosta5752
      @alejandrolacosta5752 Год назад

      as long as you are an employee, you are a slave.

  • @robertwoodward2668
    @robertwoodward2668 6 лет назад +5

    Some 2 beds in the new high rises in Canary Wharf go for less than £3k/month (with onsite cinemas!), £8,3K/month is certainly not a "basic" life.

  • @sowpur
    @sowpur 6 лет назад +27

    Moral of the story: don't do investment banking as a financial analyst. Work somewhere else. Try to do a top MBA and then get in as associate

    • @pratikchaudri6404
      @pratikchaudri6404 4 года назад +3

      Except then , half your associate salary will be going to pay your student loan

    • @jamieshannon9809
      @jamieshannon9809 4 года назад +2

      @@pratikchaudri6404 and loans NEED TO BE REPAID. DUH!

    • @Fluid36
      @Fluid36 3 года назад

      @@pratikchaudri6404 There are ways around that.

    • @CampCucumber
      @CampCucumber 3 года назад +3

      Moral of the story: Traders aren’t investment bankers

  • @sedwarg
    @sedwarg 3 года назад +6

    You can absolutely live in central London on 50K. I managed on 29K when I first moved to Earl's Court renting a room for £800 just a few years ago.

    • @emie3403
      @emie3403 2 года назад +1

      800£ will get you a really tiny shoebox today. Unless you have some relations it's almost impossible to find a decent flat in London for

    • @mxbx307
      @mxbx307 2 года назад

      Earl's Court isn't Central London, for one thing.
      And secondly £800 out there is either a total bargain or you're asking what the catch is.

    • @SonySony-u9c
      @SonySony-u9c 2 месяца назад

      @@mxbx307 earls court isnt centra london no?i think you need a map lol

  • @jasongeneva2935
    @jasongeneva2935 2 года назад +6

    I would love to see the breakdown for politicians. So many public servants that become millionaires whilst in office, it's rather amazing..

  • @LondonTrading
    @LondonTrading 6 лет назад +89

    8300 a month plus 50k bonus, you can have a nice life in central London. I live in central London on a lot less, this guy is the king of FUD 🤣🤣🤣

    • @jacklong6509
      @jacklong6509 6 лет назад +62

      he means you cant live a life thats worth giving up all your 20s for

    • @mattemeny2606
      @mattemeny2606 6 лет назад +33

      You obviously have low aspersions. That’s ok mate. Not everyone can reach for the stars. Park my car and I’ll give you a 5 quid tip. Good boy

    • @albiebaggins8644
      @albiebaggins8644 6 лет назад +1

      You bell pieces don't know the difference in lifestyle between a trader and someone in IBD😂

    • @seanknowles4769
      @seanknowles4769 4 года назад +5

      I see real wealth in mayfair. He is right. A nice Two bedroom apartment in central london rented is around 3.5 - 4k per month. Eating out in top restaurants 300 - 500 per meal. Owning a Bentley or rolls... expensive. Nice skiing holiday 10K. Anything less is basic.

    • @igortusca637
      @igortusca637 4 года назад +4

      @@mattemeny2606 Low aspersions ? Good one you uncultured swine.

  • @SK-gk3vr
    @SK-gk3vr 5 лет назад +11

    I think that working for a few years in an IB isn't to bad because you'll make connections and learn a lot about how the industry and basically the world works. That information is invaluable when trading stocks and if you're planning to start your own business. The main problem with these jobs is where you have to live. The long hours means you need to live in the CBD, whereas if you lived even 15 mins away from the CBD the rent and house prices drop significantly, which makes life so much easier. I really think the bands should partner with some of the real estate companies to get rents for bankers (year 1-6) reduced, assuring that the apartments will always have someone renting it.

    • @MrSkellzer
      @MrSkellzer 11 месяцев назад

      Investment banking doesn’t really translate to trading stock

  • @aaronc2293
    @aaronc2293 4 года назад +5

    Love this bloke. Brutal honesty, love that!

  • @kyleginn7382
    @kyleginn7382 4 года назад +28

    Cor bet he’s fun at parties

  • @EOTA564
    @EOTA564 2 года назад +1

    I earned £17k a year as a first year legal trainee in Edinburgh in the mid 00s (a fair bit higher than the Law Society recommended minimum at the time). Edinburgh is actually more expensive than London on wages to cost of living ratio. I was taking home just over £1,000 net a month. I lived with friends in a share flat. I definitely wasn’t living it large but it actually seemed like a lot of money after being a broke student for 5 years! Maybe the most elite graduates expect to walk into a high paying entry level job but the rest of us are lucky just to find a graduate position and grind it out for a few years.

  • @jpcoll2011
    @jpcoll2011 6 лет назад +8

    Wow. And there was I, jealous of the haves and me being the have not. All I can do is thank this gentleman for explaining the miserable life of the ' wannabe '.

  • @norrell35
    @norrell35 2 года назад +8

    These numbers changed a lot over the pandemic. 1st year grads start at 125k now. Usually bonus 100%. Also, pay in NYC is way better than in London.

    • @djurius
      @djurius 2 года назад +5

      because there's been massive inflation?

  • @mcjon1013
    @mcjon1013 6 лет назад +22

    gross starting salary is 50-55k now excluding bonus , although everything here may still apply considering cost of living/rent changes

    • @James_36
      @James_36 10 месяцев назад

      you still have to live in central london

  • @ulticlaw123
    @ulticlaw123 6 лет назад +29

    First off, if you really care about money, go to Hong Kong/Singapore.
    Secondly, investment banking is still incredibly prestigious in terms of exit opportunities, and will give you better chance to be successful in life. A 2-year analyst program at a BB will benefit you more than any possible job you can think of upon graduation. After that, so many doors will be open to you it's ridiculous.
    Source: first-hand experience and observing the life trajectory of peers.

    • @antonmsk3401
      @antonmsk3401 6 лет назад

      why is hk / sg better? less tax?

    • @LeveragedFinance
      @LeveragedFinance 6 лет назад +2

      Anton Marusenko I think a little bit more pay, less income tax if not same amount of total pay. Cost for living is 95% of NYC. Alcohol is taxed heavily so if you are not a big drinker it's a good place. Main benefits are kind people in Singapore and the amazing weather all year round. Also Singapore's very clean. Hk on the other hand is super crowded and filled with rude people.

    • @ulticlaw123
      @ulticlaw123 6 лет назад

      I'm in BB IBD in HK and tax is 16% across all brackets. Base salary is the same as NY, we get free housing on top of that, and bonus is on par or slightly better than NYC/London

    • @林永超-k9v
      @林永超-k9v 6 лет назад

      I'm interested in working in IB, would you like to share your work experience? By the way I'm also applying internship to Singapore

    • @MrTimmywizzle
      @MrTimmywizzle 6 лет назад +2

      What kind of exit opportunities do you guys get? I interviewed and IB analyst a few months back and I wasn't impressed. Best guys I've seen are the ex-consultants.

  • @josephzimmermann594
    @josephzimmermann594 4 года назад +3

    The moral of he story that I see here is the following: if you are a highly intelligent and clever guy that dedicates his life to the trading profession for life, it is better to raise some basic capital that would let you make consistent money and then trade on your own living a peaceful life somewhere in countryside far away from noisy & expensive city

  • @henrytan9704
    @henrytan9704 5 лет назад +3

    he really told something useful, general people will not know about all these.

  • @cdd1craig
    @cdd1craig 5 лет назад +22

    50k in central, not that bad. 1k a month for a nice flatshare. 2k spending.

  • @michael57603
    @michael57603 3 года назад +2

    A big challenge for most people is they enter into an industry when it's past it's boom stage (and only enter into it because of the presumed riches). As Anton mentions, they follow the press and then the graduating cohorts enter into a high profile industry en mass: a manifestation of herd mentality. It's much harder to follow your interest (or to actually have one) that most people don't pay attention to. It turns out that is a better bet.

  • @jakeh3236
    @jakeh3236 5 лет назад +18

    Damn this guy is good, this should be shared with other undergrads. Very informative and surprising!

  • @tam1234hk
    @tam1234hk 2 года назад +1

    I live in Hong Kong and am among the 3% most well paid employees in the city. Our effective income tax rate is just around 15%.
    Not too bad right? Yet, i still live a very basic life because property price in Hong Kong is crazily high. I paid USD1m for a 320sqft apartment near central of the city (for the reasons explained by Anton). Mortgage payment eats up a big part of my income. So despite of the low tax rate comparing to US and UK, i see no advantage on our disposable income.
    Having a decent job is always nice. But you need much more than that to earn a comfortable life.

  • @Showmetheevidence-
    @Showmetheevidence- 5 лет назад +21

    I was lucky enough that mentor once told me...
    The flashy, fancy jobs very often don’t pay as much as people think they do. But because they’re trendy and you can tell your mates “I’m a trader”. It’s often the boring jobs no one wants that’ll pay better.

  • @mxbx307
    @mxbx307 2 года назад +2

    The whole point of living in Central London at that age is to have fun, go out and do stuff, basically slightly extend your student years if you choose to. It's just a total waste having f--k all money to show for a 70 hour week - and not even in a permanent job. Yes, you can buy that BMW. Not only do you have no time to drive it, in Central London there is NO POINT in driving it. You just don't need it, there's nowhere to park it and the sort of accommodation that has parking will break bank even further.
    At that age and stage of your career, you can have much better conditions and WLB just doing something else. If you're smart enough to make the cut for an investment bank then you really can do just about anything.
    I know someone who had it all. Three year Cambridge degree, got a prestigious City job at an investment bank and was a trader for about three years. Burned out. He actually took a postgraduate medical course and is now a consultant gastroenterologist earning more than he ever did in his City analyst role, isn't locked in by stocks and penalties, and not to mention he now lives well away from London and has a stellar quality of life.

  • @friedpickles7924
    @friedpickles7924 5 лет назад +96

    That face looks like he lives in central London

  • @ricardopiovezanjr.3409
    @ricardopiovezanjr.3409 5 лет назад +8

    I just clicked because looking from my RUclips homepage, he looked like the real-life version of Gordon Gekko.

  • @vivienlegeisha3425
    @vivienlegeisha3425 4 года назад +16

    I’ve always regretted not selling my soul to the financial industry 17 years ago. Not anymore 😂 I earn way less (And I live in central London!) but I’m not in a flashy industry and do not need expensive things to keep up with the Jones > and I have enjoyed my career in the past 17 years with good work life balance.
    Thank for this video!

    • @adln2
      @adln2 4 года назад

      What you do btw? XD

    • @Tony-gh8gg
      @Tony-gh8gg 2 года назад +1

      Ya much better just figuring out how to trade on your own. No reason at all one should be working on the markets 70 hours a week that’s how you burn out lmao

  • @jamescollett2625
    @jamescollett2625 6 лет назад +32

    He also forgot that the enourmous student loan will drain even more of your salary.

  • @amazingsoapfarmyardcollect7406
    @amazingsoapfarmyardcollect7406 5 лет назад +6

    Thank you for posting this video it really puts things into perspective 10,000 qualified people for each vacancy

  • @nareshghale1430
    @nareshghale1430 3 года назад +1

    Thank you for this free lecture/seminar. Way ahead of time.

  • @killthegoats
    @killthegoats 6 лет назад +4

    No one lives in central London. Most of the banks are in Canary Wharf or Liverpool Street. Canary Wharf and surrounding areas is hell but dirt cheap, and Liverpool Street, you can live in Shoreditch, Bow, Mile End, Whitechapel etc.at varying price levels. You can commute from St John's Wood etc. in good time to get in at Canary Wharf. And few IBers want to stay on in IB - the whole point is to do it for the better and reasonably paid exit options e.g. in PE.
    Income tax applies to everyone and only has rhetorical import to a bunch of mediocre students who have never had a job before.
    You won't get rich in IB especially if you spend only a few years in it, but it's a reasonable living. The problem is that this has to be coupled with the hours and together means it's simply not sustainable.

    • @deborah-weiss
      @deborah-weiss 6 лет назад

      I'm sorry but living in the s-holes of Canary Wharf, Mile End and Whitechapel is pretty much having a basic life (or below that even, honestly). Then if you live on actual nice neighbourhoods in London you would have to commute to work which would probably make the situation unsustainable as you do not have time to commute. I agree with you though that is definitely important to point out that his main point was that nobody will get really rich in IB and nobody will have an incredibly luxurious life in London out of such job. He also forgot to mention that when you have children, then it's a downward spiral. Children in London = means you gotta buy at least a 3-bedroom flat, then private schools which cost a small fortune, then university fees later on... It is just definitely not worth to trade your youth, and most importantly, health, for such a sad career.

    • @crownjohn6666
      @crownjohn6666 6 лет назад

      Deborah Domenicci I am sorry but no body fucking wants to live in central anymore it’s a fucking disaster live in central on other hand canary wharf is much cleaner,safer,quieter place to live and it’s also had all the best modern apartments there.

  • @tanvirhussain6106
    @tanvirhussain6106 6 лет назад +2

    I think what he is saying is true. Ive seen for myself what financial analysts get. I have spoken to one who has about 6 or 7 years in the industry and surprised he still has to plan hard and compromise on a few things.

  • @christophersteiner4863
    @christophersteiner4863 6 лет назад +23

    Ha ha “the probability of you getting there is 0” you could hear the their hearts sink.

  • @MrCoulurfull
    @MrCoulurfull 6 лет назад +136

    You'd be better off being a plumber... no university education but no student loan, almost guaranteed a job with a 8 h working day five days a week. You might not get that fancy business card, but you will not be miserable and you will actually have a life (and money).

    • @5orgen51
      @5orgen51 6 лет назад +50

      Just have that permanent shit smell

    • @MrTimmywizzle
      @MrTimmywizzle 6 лет назад +9

      A plumber with the skills required in a successful career in IB would probably make more - a lot more in fact.
      Start with the plumbing, move into opening your own bathroom installation company. The bloke who lives in the £5m house up the road did just that. He's mid 30s if that.

    • @mnbhjbm1370
      @mnbhjbm1370 6 лет назад

      i dont like dookie :(

    • @maxconnolly4279
      @maxconnolly4279 6 лет назад +1

      Anyone with a brain needs this kind of mental stimulation, plumbing is boring and unsatisfying.

    • @krispykruzer
      @krispykruzer 6 лет назад

      correct, a few weeks ago i saw some builders buy a whole lot of gold in cash !

  • @NoNameGCMM
    @NoNameGCMM 2 года назад +3

    This is why you have to be an owner, really hard to get rich as a worker you have to own stock or shares a piece of the pie.
    You can also earn less in your business but keep far more of you money and you can eventually outsource the work.
    School drills it in and makes the most intelligent people who want money chase high pay income jobs- Finance , Consulting, Tech and Law just to give their life to it and get beaten in wealth by a guy who failed school but owns a jam making store 🤣

  • @finalcionide
    @finalcionide 2 года назад

    Only way you can get in london at 6 is to beat the traffic. You go to work at 4am. Who wants to get up at 4am, I used to get to job in london 5am out 1pm. Job done. Everyone else is already too late. Those who are late wont get out of london until 6-7pm,. PERIOD. Well done anton 100% correct.

  • @JamesRavencroft
    @JamesRavencroft 6 лет назад +17

    4:56 It's as if these interviews aren't even concerned about the merits of candidates, but rather indoctrinating a false sense of exclusivity and a prosperity. The result is favorable for the IB's as they get a discount army of industriously compliant servants. Reminds me of the a famous proverb, "If hard work paid off than donkeys would be covered in gold."

    • @8000Brad
      @8000Brad 5 лет назад +2

      That's because a donkey isn't fucking human

    • @valueinvestor6715
      @valueinvestor6715 4 года назад

      8000Brad I know a lot of donkey humans that work a lot but are fucking poor

  • @eedeatlikkle3652
    @eedeatlikkle3652 2 года назад +1

    In all honesty, leave the salary, a job in trading is 100 times more intellectually stimulating and interesting than some bs desk job. Instead of asking people how their day was in morning meetings and trying to take 2 weeks to fix an issue just to have your manager say it’s useless, a trader gains knowledge of how the world really works which to be honest is priceless. And of course it also teaches you risk taking etc which would be vital if one wants to grow money in their personal lives.

  • @davidshukis7351
    @davidshukis7351 5 лет назад +15

    This guy's definition of a basic life and my definition of a basic life are quite different

    • @SM-ly5tf
      @SM-ly5tf 4 года назад

      @@yourmastergggg4402 1500 on rent? If your flat sharing you can get it for much less. I'm living in central with uni friends and I am living comfortably, for 500.

    • @abercrombiefitch5431
      @abercrombiefitch5431 4 года назад +2

      Sajid that's the entire point. No one working in a top investment bank would 'share' their apartment. It's a lifestyle choice and these dudes have quite an expensive lifestyle. If you're gonna eat and live like shit to reduce your cost you might as well move somewhere else

  • @sadas3190
    @sadas3190 5 лет назад +1

    Consultancy so much better. Yeah you start on peanuts, but at the end of your career you'll make just as much if not more. You're not treated a disposable drone and people don't scoff when they hear what you do.
    Associate - 25K - 30K (1-2 years)
    Senior Associate - 30K - 45K (3-4 years)
    Manager 45K - 70K (5-8 years)
    Associate Director/VP 70K - 100K (9 - 12 years)
    Director 100K - 200K (12 - 18 years)
    Managing Director/Partner 200K - 300K (18 years +)
    Equity Partner, Sky's your limit, easily 600K+ bonuses for Big Four

  • @Identifyplumbing
    @Identifyplumbing 4 года назад +5

    I glad I stuck with the plumbing now!

  • @sergeiok8499
    @sergeiok8499 2 года назад

    Agree with everything he's saying and always says, apart from commuting to central London from outside London by 6am, I've done it many times. Touch and go though..

  • @JAMAL12382
    @JAMAL12382 5 лет назад +28

    Stop making the rich richer and start your own business!

    • @nicr7959
      @nicr7959 4 года назад

      gee you have a point

  • @Steve197201
    @Steve197201 6 лет назад +2

    That was a very sobering analysis for anybody who uses the term "Wall Street Bankers" in the pejorative.

  • @christopherhewitt329
    @christopherhewitt329 6 лет назад +10

    Um... you can definitely live in Central London on 50k. Honestly, you can live in London on 28-30k...

    • @pja8901
      @pja8901 5 лет назад +3

      Central London on 50k Gross?? Youre dreaming. He's talking about Covent Garden or South bank, where a 1 bed apartment costs you 26k a year.

    • @BarnezGFX
      @BarnezGFX 4 года назад

      London Bridge/Borough/Aldegate East is 800-900pm. You can live well on 28-30 easily.