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Goodbye Rhodes Scholarship?

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Sociologist
92b6

Love this. So true. You should see the inferiority complexes of Oxbridge students at lesser colleges - they feel cheated given the Oxbridge name doesn?t give them better opportunities because they didn?t go to the ?real? Oxbridge colleges
That's just plain fantasy. No one outside of the most self-infatuated oxbridge circles care about that s**t.
Going to a top college means a higher likelihood of getting funding for your PhD, more extra awards, better/cheaper housing and sometimes a bit more faculty attention for undergrads.
But go tell in the middle of a job interview (to an interviewer who more often than not didn't went to Oxbridge) that going to college X means they can overlook your unremarkable grades or non-existent work experience. I'm sure they will be impressed

Living la vida loca. Network effects for Oxbridge undergrads only really kick in when they’re from prestigious colleges (of which there are really only a handful at each university). Otherwise, their outcomes are not discernibly different to those from other top universities on the island and the graduates of lesser colleges feel this when it is too late and they’re in more or less the same rat race as everyone else.

8 months ago # QUOTE 4 GOOD 0 NO GOOD !
Sociologist
ec55

It's well established that first year and second year associate pay is $300,000-350,000 and c$400,000 at US PE MF shops (in London -- in New York it's pushing $400k for first year associates at places like Apollo now). There isn't "data" on this LMFAO -- check WallStreetOasis if you want something close to it (it's salary database and the discussion threads are the best source of this stuff if you aren't in the industry yourself).

Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?
Sources for both or you�re speaking nonsense all around. City jobs aren�t as well paid as the inflated rumours would have you believe

8 months ago # QUOTE 0 GOOD 1 NO GOOD !
Sociologist
ec55

You're right -- but I don't think you know what "network effects" are... Just say "networking opportunities" instead

Love this. So true. You should see the inferiority complexes of Oxbridge students at lesser colleges - they feel cheated given the Oxbridge name doesn?t give them better opportunities because they didn?t go to the ?real? Oxbridge colleges
That's just plain fantasy. No one outside of the most self-infatuated oxbridge circles care about that s**t.
Going to a top college means a higher likelihood of getting funding for your PhD, more extra awards, better/cheaper housing and sometimes a bit more faculty attention for undergrads.
But go tell in the middle of a job interview (to an interviewer who more often than not didn't went to Oxbridge) that going to college X means they can overlook your unremarkable grades or non-existent work experience. I'm sure they will be impressed
Living la vida loca. Network effects for Oxbridge undergrads only really kick in when they�re from prestigious colleges (of which there are really only a handful at each university). Otherwise, their outcomes are not discernibly different to those from other top universities on the island and the graduates of lesser colleges feel this when it is too late and they�re in more or less the same rat race as everyone else.

8 months ago # QUOTE 0 GOOD 1 NO GOOD !
Sociologist
92b6

Having come from a target school where too many of my classmates have gone into elite financial services institutions and law firms, I remain sceptical. A forum and a bunch of industry rumours in an opaque setting is nowhere near reliable as a source. You will find a massive variance in packages

It's well established that first year and second year associate pay is $300,000-350,000 and c$400,000 at US PE MF shops (in London -- in New York it's pushing $400k for first year associates at places like Apollo now). There isn't "data" on this LMFAO -- check WallStreetOasis if you want something close to it (it's salary database and the discussion threads are the best source of this stuff if you aren't in the industry yourself).
Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?
Sources for both or you?re speaking nonsense all around. City jobs aren?t as well paid as the inflated rumours would have you believe

8 months ago # QUOTE 1 GOOD 0 NO GOOD !
Sociologist
ec55

Having come from a target school where too many of my classmates have gone into elite financial services institutions and law firms, I remain sceptical. A forum and a bunch of industry rumours in an opaque setting is nowhere near reliable as a source. You will find a massive variance in packages

PE MF is the very top of whatever you mean by "Elite financial services institutions".

PS: KPMG and Barclays are not in any manner 'elite'.

8 months ago # QUOTE 0 GOOD 1 NO GOOD !
Sociologist
92b6

Having come from a target school where too many of my classmates have gone into elite financial services institutions and law firms, I remain sceptical. A forum and a bunch of industry rumours in an opaque setting is nowhere near reliable as a source. You will find a massive variance in packages

PE MF is the very top of whatever you mean by "Elite financial services institutions".
PS: KPMG and Barclays are not in any manner 'elite'.

I include PE and HF amongst other institutions in my previous statement

8 months ago # QUOTE 1 GOOD 0 NO GOOD !
Sociologist
7a7d

Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?

I take you really don't know how UK education system and salaries work. First, PhDs are 3 years long. So 26 is about the age one would finish a PhD, without any detours. Second, salaries in the UK are substantially lower than in the US. If you are pulling 200k GBP five years after graduation, you are probably among the top 1% highest paid bankers of your age. And, more likely, you studied at LSE, LBS or some of the elite french schools, which are actually the ones with highest earning alumni in London.

8 months ago # QUOTE 4 GOOD 0 NO GOOD !
Sociologist
92b6

Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?
I take you really don't know how UK education system and salaries work. First, PhDs are 3 years long. So 26 is about the age one would finish a PhD, without any detours. Second, salaries in the UK are substantially lower than in the US. If you are pulling 200k GBP five years after graduation, you are probably among the top 1% highest paid bankers of your age. And, more likely, you studied at LSE, LBS or some of the elite french schools, which are actually the ones with highest earning alumni in London.

Yes exactly. A lot of grads are lured by rumours and find out they are precisely that - rumours! Huge variance in packages in the City

8 months ago # QUOTE 1 GOOD 1 NO GOOD !
Sociologist
ec55

Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?
I take you really don't know how UK education system and salaries work. First, PhDs are 3 years long. So 26 is about the age one would finish a PhD, without any detours. Second, salaries in the UK are substantially lower than in the US. If you are pulling 200k GBP five years after graduation, you are probably among the top 1% highest paid bankers of your age. And, more likely, you studied at LSE, LBS or some of the elite french schools, which are actually the ones with highest earning alumni in London.

Salaries aren't much lower for PE, HF, Law etc. Why would they be? Salaries in other industries are because .. duh.. people are less productive. People in PE, HF, Law are equally as productive in London as in Singapore as in New York - so salary differentials for like-for-like work don't exist. Check out how US law shops pay their first year associates in dollars, and the equivalent amount to their US counterparts.

And salary differentials you see can be attributed to not comparing like for like.

8 months ago # QUOTE 0 GOOD 3 NO GOOD !
Sociologist
ec55

*Any salary differentials you see

8 months ago # QUOTE 1 GOOD 1 NO GOOD !
Sociologist
92b6

Hahaha Oxford PhDs are NOT real Oxford students.
You don?t get to indulge in almost any of the undergrad traditions and do not get anywhere near he amount of privileges of the undergrads (and while undergrads are heavily sought after by law firms, investment banks, MBB, PhDs are absolutely not)
This isn't the 90s anymore. IB or PE pays less then what the jobs STEM PhDs can get as quants in HF, AI researchers or software engineers. If an Oxbridge student really wants the highest paying job, they'll need a PhD.
So "STEM PhDs" earn $400,000 aged 25/26 just like second year MF PE associates in London earn (following a two year IB analyst scheme)? Have they even graduated from their "STEM PhD" by that age?
I take you really don't know how UK education system and salaries work. First, PhDs are 3 years long. So 26 is about the age one would finish a PhD, without any detours. Second, salaries in the UK are substantially lower than in the US. If you are pulling 200k GBP five years after graduation, you are probably among the top 1% highest paid bankers of your age. And, more likely, you studied at LSE, LBS or some of the elite french schools, which are actually the ones with highest earning alumni in London.
Salaries aren't much lower for PE, HF, Law etc. Why would they be? Salaries in other industries are because .. duh.. people are less productive. People in PE, HF, Law are equally as productive in London as in Singapore as in New York - so salary differentials for like-for-like work don't exist. Check out how US law shops pay their first year associates in dollars, and the equivalent amount to their US counterparts.
And salary differentials you see can be attributed to not comparing like for like.

No. London pays less than NYC. This is well known

8 months ago # QUOTE 2 GOOD 1 NO GOOD !
Sociologist
7a7d

It would be so good if there were people studying how salaries are set in different economies! Maybe thinking about things like supply and demand, labor market regulation, tax regimes and so on.

Salaries aren't much lower for PE, HF, Law etc. Why would they be? Salaries in other industries are because .. duh.. people are less productive. People in PE, HF, Law are equally as productive in London as in Singapore as in New York - so salary differentials for like-for-like work don't exist. Check out how US law shops pay their first year associates in dollars, and the equivalent amount to their US counterparts.
And salary differentials you see can be attributed to not comparing like for like.

8 months ago # QUOTE 2 GOOD 0 NO GOOD !
Sociologist
7a7d

But, before science gets there, just check on Glassdoor or whatever to compare. Having lived in both SF and London, I can also assure that London salaries are substantially lower.

8 months ago # QUOTE 3 GOOD 0 NO GOOD !
Sociologist
ec55

Case in point: First year lawyers in London are paid the same as their US counterparts.

https://www.legalcheek.com/2018/06/moneylaw-2-0-us-outfit-milbank-ups-london-junior-lawyer-pay-to-143000/

https://www.legalcheek.com/2018/06/kirkland-ellis-ups-london-nq-salaries-to-143000/

https://www.law.com/international-edition/2018/06/25/four-more-us-firms-raise-pay-for-london-associates-to-top-of-the-market-rates

The same is true (mostly) in Private Equity. You make a bit less in Investment Banking (first year analyst pay at a London BB is around £90,000 compared with $130,000-$140,000 in NYC, and at boutiques like PJT its around £120,000 compared with $190,000)

Glassdoor is the quite possibly the worst place to look for data -- like I said before, WallStreetOasis has the best finance database around.

Salaries, in general, may be lower in London - but when comparing like-for-like (as I've stressed), you'll find they're largely equal. In fact, given you get a month of holiday a year in London, you may even be better off in London

8 months ago # QUOTE 0 GOOD 3 NO GOOD !
Sociologist
5ba4

i just clicked on this because I was bored and somehow got even more bored trying to read this.

8 months ago # QUOTE 2 GOOD 0 NO GOOD !
Sociologist
0561

Haha, sure, honey!

Case in point: First year lawyers in London are paid the same as their US counterparts.
https://www.legalcheek.com/2018/06/moneylaw-2-0-us-outfit-milbank-ups-london-junior-lawyer-pay-to-143000/
https://www.legalcheek.com/2018/06/kirkland-ellis-ups-london-nq-salaries-to-143000/
https://www.law.com/international-edition/2018/06/25/four-more-us-firms-raise-pay-for-london-associates-to-top-of-the-market-rates
The same is true (mostly) in Private Equity. You make a bit less in Investment Banking (first year analyst pay at a London BB is around �90,000 compared with $130,000-$140,000 in NYC, and at boutiques like PJT its around �120,000 compared with $190,000)
Glassdoor is the quite possibly the worst place to look for data -- like I said before, WallStreetOasis has the best finance database around.
Salaries, in general, may be lower in London - but when comparing like-for-like (as I've stressed), you'll find they're largely equal. In fact, given you get a month of holiday a year in London, you may even be better off in London

8 months ago # QUOTE 2 GOOD 0 NO GOOD !
Sociologist
03c7

First year analyst pay at London BBs are NOT £90k

Case in point: First year lawyers in London are paid the same as their US counterparts.
https://www.legalcheek.com/2018/06/moneylaw-2-0-us-outfit-milbank-ups-london-junior-lawyer-pay-to-143000/
https://www.legalcheek.com/2018/06/kirkland-ellis-ups-london-nq-salaries-to-143000/
https://www.law.com/international-edition/2018/06/25/four-more-us-firms-raise-pay-for-london-associates-to-top-of-the-market-rates
The same is true (mostly) in Private Equity. You make a bit less in Investment Banking (first year analyst pay at a London BB is around �90,000 compared with $130,000-$140,000 in NYC, and at boutiques like PJT its around �120,000 compared with $190,000)
Glassdoor is the quite possibly the worst place to look for data -- like I said before, WallStreetOasis has the best finance database around.
Salaries, in general, may be lower in London - but when comparing like-for-like (as I've stressed), you'll find they're largely equal. In fact, given you get a month of holiday a year in London, you may even be better off in London

8 months ago # QUOTE 1 GOOD 1 NO GOOD !
Sociologist
ac3c

Starting IB salary in London is £50k

8 months ago # QUOTE 2 GOOD 1 NO GOOD !
Sociologist
ec55

Starting IB salary in London is �50k

+ £40k bonus, mo/ron

https://news.efinancialcareers.com/uk-en/277526/banking-salaries-and-bonuses

NYC IB starting bass = $85k, but you likewise get an 80% bonus.

PJT bonuses were £70k (£120k all in) last year in London, and total PJT comp in NYC was ($190k - $95 base, $95 bonus iirc)

I said anyway that IB salaries in London were slightly lower than NY, but PE ones are almost the same. Almost universally $400k for second year associates.

Please check your facts before commenting

8 months ago # QUOTE 0 GOOD 1 NO GOOD !
Sociologist
1e57

So the fact is that salaries in NY are higher than London.

Starting IB salary in London is ?50k
+ �40k bonus, mo/ron
https://news.efinancialcareers.com/uk-en/277526/banking-salaries-and-bonuses
NYC IB starting bass = $85k, but you likewise get an 80% bonus.
PJT bonuses were �70k (�120k all in) last year in London, and total PJT comp in NYC was ($190k - $95 base, $95 bonus iirc)
I said anyway that IB salaries in London were slightly lower than NY, but PE ones are almost the same. Almost universally $400k for second year associates.
Please check your facts before commenting

8 months ago # QUOTE 2 GOOD 1 NO GOOD !

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