Title says it all. I think we've all read it online how banks were making enormous fees as well as PE firms making outsized returns. At least in big tech + large unicorns it is lucrative (albeit stock compensation especially non-FAANG). We've had a pretty descent market for tech on the public and private sides for past 10-20 years and while overall tech will still be growing very fast not sure how long the compensation can last.
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I don’t see how the compensation wouldnt last if the industry continues to grow the way it is
bump
Tech in the 90s is far different than today before the bubble. Loads of undergrad talent pivoted to computer science back then.
Hard to compare two totally different industries back in it's heyday (80s/90s for PE and probably early 2000s for IB honestly) to tech now.
IB was probably the quickest way to wealth while being risk-averse ($500K for a 1st year post MBA associate wasn't uncommon in 2005, ~$720K in today's money). To give you perspective how insane that is, average starting pay for a primary care doctor was $150K in 2005 (and most specialists were under $300K). Those who got in early successfully in PE killed it - especially in the 80s/90s (hence the handful of billionaires you find at non PE MF funds).
i imagine much tougher working conditions than today?
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