Yeah, I'm not saying they are starving by any means. But it doesn't surprise me a junior banker would get into being an escort if they lost their job and weren't getting interview opportunities
For example:
There is still some range around those numbers depending on your bank and program you are in. +/- 15k each way I would say. When I started, I was in a weaker department and def was below 120k.
And those are All-in comp numbers. Bonus is prob 15 to 25k of the 120k compensation package. Bonus is not received until between Feb-Apr the following year assuming you are still employed at that time.
So let's say comp package is 120k and salary is 100k.
That's means monthly paycheck is $2,491/month after federal and state taxes and social security deductions.
Input it in this calculator:
https://smartasset.com/taxes/new-york-paycheck-calculator#Q0FJ0qifBi
This is before health/dental insurance, or 401K savings also deducted or college loans are accounted for.
$2k is cheaper end of rent in the Manhattan, 2.5k to 3k is more common especially if they opt not to have roommates. A good number of junior analysts I know of are getting money from mom/dad still.
So with a $120k comp package an analyst has between $0 and $950 a month before spending on anything except rent.
Food, metrocard, cell phone, Internet, utilities, banker clothes, and basic socializing will eat that up very quickly especially in Manhattan. Can't be too cheap here. You have to least pretend to look like a banker else you'll be an outcast and eventually pushed out.
Rent is a killer. That's why I got my ass out of Manhattan after a year and into an 11x11 studio. The building was ghetto although the hood was beginning to gentrify.
In that building,
- I saw drug deals (I think crack) go down in the front door vestible,
- in elevator had a totally busted looking crack whore ask me if I wanted to watch porn with her (holding up a paper back with a vhs tape?),
- called the cops when I heard my upstairs neighbor chick getting beaten the fuck up (screaming, body thuds, and furniture crashing) when cops arrived she was messed up but said everything was fine,
- had rolling roach and mice infestations,
- once had a random child like 10yrs old knock on my door to ask to hang out,
- and never in 5yrs invited friends or coworkers out there out of fear and embarrassment.
But I saved money and eventually got a place, damnit! Lol