Where is highest earning IB's living in?

[Deleted member 30579]

Where should an investment banker live for earning better? NYC, London, Hong Kong, Singapore or Frankfurt?

 

[Pakicel]

NYC

 

[Deleted member 6128]

NYC you dumb fuck what a stupid question

 

[Octavian_Augustus]

NYC you dumb fuck what a stupid question

NYC

Better at junior level is Europe given COL + time off.

A NY junior banker will make a bit more but will have much higher COL than say London (yes, even London) or Paris, Frankfurt, etc. In NY you can expect to drop 4k a month for a one bedroom.

In Europe you can take 4-5 weeks off (sometimes more depending on the country), in the US people take 1-2 weeks off (2 is pushing it when you start off)

Don't do Hong Kong you will die.

 

[Deleted member 6128]

Shit take. Better at junior level is Europe given COL + time off.

A NY banker will make a bit more but will have much higher COL than say London (yes, even London) or Paris, Frankfurt, etc. In NY you can expect to drop 4k a month for a one bedroom.

In Europe you can take 4-5 weeks off (sometimes more depending on the country), in the US people take 1-2 weeks off (2 is pushing it when you start off)

nigger can you not read?

The title is “Where is highest earning IB’s living in”

Which is fucking NY no one gives a fuck about holiday time JFL.

+ European IB Junior salary is half that of NYC and and you lost 40% of your salary to state tax JFL

 

[Octavian_Augustus]

nigger can you not read?

The title is “Where is highest earning IB’s living in”

Which is fucking NY no one gives a fuck about holiday time JFL.

+ European IB Junior salary is half that of NYC and and you lost 40% of your salary to state tax JFL

No you're wrong it's not half of NYC... More like ~85%

Lower taxation in the US is a myth (for California and NYC at least). Effective tax rate in NYC is so fucking high it's Euro levels...

Sure gross you make more in NYC but bottom line at junior level you don't save much more (or more at all) taking into account COL and that's what really matters. Who cares if you gross more...

No one cares about holiday time? Try doing IB and see if you don't want to take time off after getting grinded until 2am for 6 months straight. Making similar money and taking 5x more time off is incredible.

 

[Octavian_Augustus]

nigger can you not read?

The title is “Where is highest earning IB’s living in”

Which is fucking NY no one gives a fuck about holiday time JFL.

+ European IB Junior salary is half that of NYC and and you lost 40% of your salary to state tax JFL

In Dubai they pay you ~90% of US gross and you have a 0% tax rate. Much better than NYC. Much lower COL and more PTO.

You've got to know the right moves.

 

[Deleted member 23819]

At starting analyst level with bonus

Pre tax : NYC 150k > Singapore 125k > HK 115k > London 80k > Frankfurt 70k

After tax : Singapore 100k > HK 95k > NYC 90k > London 50k > Frankfurt 45k

 

[Deleted member 6128]

No you're wrong it's not half of NYC... More like ~85%

Lower taxation in the US is a myth (for California and NYC at least). Effective tax rate in NYC is so fucking high it's Euro levels...

Sure gross you make more in NYC but bottom line at junior level you don't save much more (or more at all) taking into account COL and that's what really matters. Who cares if you gross more...

No one cares about holiday time? Try doing IB and see if you don't want to take time off after getting grinded until 2am for 6 months straight. Making similar money and taking 5x more time off is incredible.

NYC tax is still lower than general eu tax.

You make more at junior level associate level and partner level

if not double what euros make

 

[Deleted member 6128]

In Dubai they pay you ~90% of US gross and you have a 0% tax rate. Much better than NYC. Much lower COL and more PTO.

You've got to know the right moves.

Holy fuck you dumbass theres little to no banks in Dubai you wont even be able to lateral to PE, VC or other IB firms JFL at even bothering working in dubai

NYC is the best place to be for fucking finance end of

 

[Deleted member 6128]

Better at junior level is Europe given COL + time off.

A NY junior banker will make a bit more but will have much higher COL than say London (yes, even London) or Paris, Frankfurt, etc. In NY you can expect to drop 4k a month for a one bedroom.

In Europe you can take 4-5 weeks off (sometimes more depending on the country), in the US people take 1-2 weeks off (2 is pushing it when you start off)

Don't do Hong Kong you will die.

How do IB analysts afford to live in London?

Recently started as a first-year analyst as a BB here in London and I'm really struggling to understand how people afford to live here in London. My base is £70k a year, which

www.wallstreetoasis.com

Muh muh higher COL JFL

I rent in London atm paying 3k a month JFL

 

[Octavian_Augustus]

NYC tax is still lower than general eu tax.

You make more at junior level associate level and partner level

if not double what euros make

No it's not lol...

Free Paycheck Calculator: Hourly & Salary Take Home After Taxes

SmartAsset's hourly and salary paycheck calculator shows your income after federal, state and local taxes. Enter your info to see your take home pay.

smartasset.com

Use this. Effective tax rate for 500k is ~45% for NYC.

500,000 income tax calculator 2024 - United Kingdom - salary after tax

If you make 500,000 in United Kingdom, what will your take home pay be after tax deductions? The Talent.com Online Salary and Tax Calculator can help you understand your net pay.

uk.talent.com

Net pays for 500k are roughly the same.

 

[Octavian_Augustus]

Holy fuck you dumbass theres little to no banks in Dubai you wont even be able to lateral to PE, VC or other IB firms JFL at even bothering working in dubai

NYC is the best place to be for fucking finance end of

Another wrong take they have banks there it's a growing market. We're also not asking about where they have the most banks but where you get the most bang out of your buck.

Do you work in IB? Probably not. Just another college kid who thinks he knows shit he doesn't about jobs he hasn't had and places he hasn't lived in JFL.

Also per above poster Singapore and HK have much lower tax rate and you probably net more there as well. i forgot about that. Shit culture though

At starting analyst level with bonus

Pre tax : NYC 150k > Singapore 125k > HK 115k > London 80k > Frankfurt 70k

After tax : Singapore 100k > HK 95k > NYC 90k > London 50k > Frankfurt 45k

 

[Octavian_Augustus]

How do IB analysts afford to live in London?

Recently started as a first-year analyst as a BB here in London and I'm really struggling to understand how people afford to live here in London. My base is £70k a year, which

www.wallstreetoasis.com

Muh muh higher COL JFL

I rent in London atm paying 3k a month JFL

3k? For what? In NYC you can't get shit for 3k (unless you have flat mates)

 

[Deleted member 30579]

3k? For what? In NYC you can't get shit for 3k (unless you have flat mates)

do you know how many weeks of holiday are there annually in singapore? its also a place for not getting mogged as much as nyc or london

 

[Deleted member 6128]

No it's not lol...

Free Paycheck Calculator: Hourly & Salary Take Home After Taxes

SmartAsset's hourly and salary paycheck calculator shows your income after federal, state and local taxes. Enter your info to see your take home pay.

smartasset.com

Use this. Effective tax rate for 500k is ~45% for NYC.

500,000 income tax calculator 2024 - United Kingdom - salary after tax

If you make 500,000 in United Kingdom, what will your take home pay be after tax deductions? The Talent.com Online Salary and Tax Calculator can help you understand your net pay.

uk.talent.com

Net pays for 500k are roughly the same.

Analyst Salary.

36% at 150k in NYC

Tax for 80k

Losing around 30% at 80k JFL

At £120k GBP equivalent to $150k its 35% 1% decrease JFL

Associate
NYC Salary $250k if not $350k high end

38% Tax Rate at $250k at this point NYC should be comfortable on such salary

London

JFL man New york is clear @AlainDelonFan don't take this clown seriously

3k? For what? In NYC you can't get shit for 3k (unless you have flat mates)

Nah you can so long as you don't live in fucking manhattan

 

[Deleted member 6128]

Another wrong take they have banks there it's a growing market. We're also not asking about where they have the most banks but where you get the most bang out of your buck.

Do you work in IB? Probably not. Just another college kid who thinks he knows shit he doesn't about jobs he hasn't had and places he hasn't lived in JFL.

Also per above poster Singapore and HK have much lower tax rate and you probably net more there as well. i forgot about that. Shit culture though

Never said they didnt have banks but career progression is much harder in dubai

NYC is the king of finance JFL. You get the most bang for your buck in fucking NY

Even fucking Miami is arguably a stronger finance hub than Dubai. New York is clear you also have Boston, Baltimore, Washington and Fucking Philly which also have more banks than Dubai

New york is king frenchie

 

[Deleted member 6128]

No it's not lol...

Free Paycheck Calculator: Hourly & Salary Take Home After Taxes

SmartAsset's hourly and salary paycheck calculator shows your income after federal, state and local taxes. Enter your info to see your take home pay.

smartasset.com

Use this. Effective tax rate for 500k is ~45% for NYC.

500,000 income tax calculator 2024 - United Kingdom - salary after tax

If you make 500,000 in United Kingdom, what will your take home pay be after tax deductions? The Talent.com Online Salary and Tax Calculator can help you understand your net pay.

uk.talent.com

Net pays for 500k are roughly the same.

No one in EU IB is making $500k JFL not until they're in their 50s at least meanwhile their US counterparts make than a decade earlier if not 15 years earlier

 

[Octavian_Augustus]

Analyst Salary.

View attachment 2429023
36% at 150k in NYC

Tax for 80k
View attachment 2429026
Losing around 30% at 80k JFL


View attachment 2429028
At £120k GBP equivalent to $150k its 35% 1% decrease JFL

Associate
NYC Salary $250k if not $350k high end
View attachment 2429045
38% Tax Rate at $250k at this point NYC should be comfortable on such salary

London

So you're basically agreeing with me that London and NYC have similar effective tax for IB jobs. Ok, thanks.

Also the below is incorrect London with bonus is going to be way more than 80k with bonus... The total comp adjusted for exchange rate will not be vastly different.

At starting analyst level with bonus

Pre tax : NYC 150k > Singapore 125k > HK 115k > London 80k > Frankfurt 70k

After tax : Singapore 100k > HK 95k > NYC 90k > London 50k > Frankfurt 45k

 

[Deleted member 30579]

can someone say whats annualy holiday time in singapore and hong kong mr. high iq's?

 

[Deleted member 30579]

fuck even 5 weeks is so less for not working for 24/7

 

[Chinacurry]

jfl ofc its NYC

 

[Octavian_Augustus]

Never said they didnt have banks but career progression is much harder in dubai

NYC is the king of finance JFL. You get the most bang for your buck in fucking NY

Even fucking Miami is arguably a stronger finance hub than Dubai. New York is clear you also have Boston, Baltimore, Washington and Fucking Philly which also have more banks than Dubai

New york is king frenchie

Sure it is but that's not what I was saying I was just saying in Dubai you can make way more than in the US if you're just optimizing for salary. In NY you get cucked with Euro level tax and insane COL so the illusion of living better because of a higher gross is misleading. You probably net more in Asia in HK and singapore.

I'm not saying NYC isn't the finance hub of the world... It is if you want to work on the biggest deals, hedge funds (dying industry anyways) or work in PE megafunds. VC would be more on the West Coast though.

Also not entirely true that NYC is the king of finance it is for IBK & capital markets (so M&A, IPOs) but not for private banking and wealth management. It's more nuanced than that.

 

[Deleted member 6128]

So you're basically agreeing with me that London and NYC have similar effective tax for IB jobs. Ok, thanks.

Also the below is incorrect London with bonus is going to be way more than 80k with bonus... The total comp adjusted for exchange rate will not be vastly different.

Yes but IB pays more you keep trying to cope by saying that NYC col is higher which doesnt matter for IB progressives as they will eventually have a 500k a year salary

 

[Octavian_Augustus]

No one in EU IB is making $500k JFL not until they're in their 50s at least meanwhile their US counterparts make than a decade earlier if not 15 years earlier

This is so wrong bro. You clearly don't work in the industry. Euro MDs in their 30s make more than 500k you twat.

just stfu at this point.

 

[Deleted member 6128]

This is so wrong bro. You clearly don't work in the industry. Euro MDs in their 30s make more than 500k you twat.

just stfu at this point.

As if you're gonna make MD

Muh Muh muh muh "500k you twat"

AHAHHAHAAHAH

Career copers are the funniest people tbh

JFL browse

wallstreetoasis.com some more

 

[Deleted member 23819]

So you're basically agreeing with me that London and NYC have similar effective tax for IB jobs. Ok, thanks.

Also the below is incorrect London with bonus is going to be way more than 80k with bonus... The total comp adjusted for exchange rate will not be vastly different.

Yeah for London I meant in GBP so probably like 110-120k usd after bonus, so about the same as HK but of course higher tax. But NYC is definitely the highest all in at least at starting level, 150-180k is normal and can be even be 200-220k at boutiques.

 

[Deleted member 6128]

Yeah for London I meant in GBP so probably like 110-120k usd after bonus, so about the same as HK but of course higher tax. But NYC is definitely the highest all in at least at starting level, 150-180k is normal and can be even be 200-220k at boutiques.

gets to $350k at associate and you can easily move to HF or VC firms

 

[currywhowillascends]

Houston is underrated for the money you save, Also dubai, If you can get into something like moelis

 

[Deleted member 30579]

Houston is underrated for the money you save, Also dubai, If you can get into something like moelis

i dont like hot weather