This is how much new banking analysts spend on their suits If you are a first year analyst in an http://www.wholesale-halloweencostumes.com/ investment bank, how much must you spend on your outfit? While the suit your mother bought you from eBay is definitely a no-no, do you really need to go very large in Hugo Boss?
You might think this would depend both upon where you work (in terms of organization) and the sort of division you work for http://www.swimwear-manufacturers.com/ . For example, a technology analyst at HSBC who mostly interacts with colleagues might be expected to dress less snappily than an M&A analyst at Goldman Sachs with aspirations to visit clients.
In fact, sartorial splashing out seems to have more http://www.wholesale-swimwear.com/ to do with the individual than the bank or division.
We asked some analysts who joined banks full time this summer how much they spent on suits. The biggest spender was in the technology division of Goldman Sachs, which is now allowing its people to go totally casual if they so wish.
I spent ￡1,500 on my suit, says the nattily-dressed Goldman tech analyst. I spent around ￡200 on my shoes and I have ten shirts costing ￡80 pounds each. That is ￡2,500 ($3.2k) in total then.
An incoming analyst on the trading floor at a French bank says he got his suit in the sale for ￡800 and supplemented it with ￡250 shoes and shirts costing ￡50 each. An incoming IBD analyst at a U.S. bank says he spent ￡350 on his suit (from SuitSupply), bought a lot of white (and some pink) shirts from Charles Tyrwhitt, and purchased several pairs of shoes costing between ￡150 and ￡300, a Hermes tie for ￡300, some silver cufflinks for ￡150, plus some CK underwear.
At the other end of the scale, an IBD analyst at a leading M&A boutique in London says his suit budget was ￡200. Given that I was going to be wearing it every day, I tried to minimize what I spent on my suit, he tells us. I did not see the point in buying an expensive suit that was going to be ruined by daily wear and tear. I bought several double-cuff shirts, costing between ￡30 and ￡60 each and I bought a pair of cheap shoes for less than ￡100, plus some more expensive ones that I only wear to meetings.