Discussion in 'Wall St. News' started by 0008, Sep 27, 2005.
I feel trading is still a worthing pursue.
Consultant, McKinsey & Co."
That's a pretty good salary for someone so young. Makes almost as much as her mother who is nearly three times her age and is a US Senator:
United States senator"
Yeh but a US senator is a position that is worth a lot more than the salary it pays.
That's like comparing Chelsea to Greenspan or Bush and saying, oh they only earn 2 times more
I agree that people in US government are payed way too little for the level of responsibility. In fact, it is probably the reason that we have so little choice who to hire (vote for) in the field.
120K for Chelsea is too much imo given her experience. Or perhaps it is too little!!!??? Either way, her salary seems strange to me.
McKinsey is a top top flight firm, I think the starting salary there is 6 figures. 120k is what they probably pay coffee runners and xerox copiers
Having been there and done that, it's the going rate... In actuality, she's only getting a fraction of her bill rate. When I was in their industry, the going bill rate depending on expertise was >$200/hr and that was for entry level consultants. So 45hrs*$200*45weeks is $405K. Mind you, this is entry level. The execs had bill rates >$600/hr. It is true that the higher your rank, the less hours you bill. Nonetheless, the revenue stream is handsome considering how many employees are "staffed" (ie. on a client project) at any given time... Typical weeks are long too 12 hr days, intermittent weekends. When I left that industry, I said I wouldn't go back for double. So now its 3.5 years later and I couldn't even put a price on what it would take to go back to it. However, McKinsey is good at what they do and to attract quality you have to pay up so that in fact your deliverables are quality and services recommended and used again...
I would have to agree. 120k is almost the min at a firm like McKinsey. In fact, she can expect to make far more than that if she just goes to B-school and get re-hired by them.
Agree on this too. If I go to B-school now, I'm looking at 6 figure drop from my current level. Mind you, I still want to go to B-school but only to get a feel of the business climate as opposed to leveraging the degree... Well, depending on the University, the degree is nice to have too...
huh? a 6 figure drop? Are you the "coinz" of the Wall street news boards?
You are outside of reality pal. A 6 figure drop would put your current take home at somehwere near a 10 billion annual income.
But then, maybe this is some insider lingo that us untouchables aren't privy to.
1,000,000 plus is a 7 figure salary (ie. 7 digits)....
100,000 plus is a 6 figure salary (ie. 6 digits)...
10,000,000 plus is an 8 figure salary (ie. 8 digits)...
Separate names with a comma.