I work in IB at a BB and can verify that these numbers are true. In fact, when you consider 10 month bonuses (and I've heard of some traders getting higher) the take home is usually higher than 200k. The salary structure in law firms is unfortunately very different in that the senior folks keep everything and the juniors get left with nothing. Banking rewards you from day 1. Not very good from a health perspective though but thats another story.