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Old 09-04-2017, 06:06 PM
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I am really surprised to read that investment bankers and senior bankers are earning only $12k to $14k pm. Thought they were all boasting that they earn big bucks.

If $12k to $14k pm was their actual salaries then many are really living beyond their means.

So would you prefer "High" salaries but short shelf life or slow but steady progression till retirement at 55 or 65.

I am in the slow but steady type of profession. Starting salary was really low (below $2k) and current pay above those investment and senior bankers and into my 32nd year of work.

Because of the initial low salary, I built up the habit of frugal and simple living. We currently own 2 condos and 2 cars (mass market type, nothing fancy) and our passive income is $150k pa.
dont want to burst your bubble but SG$12k-14k is the starting pay for investment banking fresh grads at most bulge brackets like jpm ms gs barclays ubs cs and even MMs like hsbc don't pay too far off. it is the industry standard. the previous poster was likely referring to a sales person (probably a senior personal banker at a retail bank, or perhaps an A3/associate working in the sales and trading division of a bulge bracket). investment banking does pay among the top of all salaried jobs in the universe... an acquaintance of mine got poached 2 years out of university from a bulge to a top boutique, think HL/greenhill/moelis. slightly over 20k monthly, base.

the previous posters are right that you can easily retire in your mid 30s comfortably if you lead a normal lifestyle, you don't even have to be frugal. but i don't think it ever happens cuz young ppl these days just want to show off. and showing off is the only way you get to hang with the big boys, especially if you wanna be in IBD for the long haul.
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