"What makes those first internships and analyst years - spending long hours poring over financial models and spreadsheets, drafting investment memos, or staying at your desk well past dinner time - worth it? The first real payday. Business Insider asked its Rising Stars of Wall Street to remember that moment and share what they did with their first big check. For some of these successful financiers, the funds went straight to family or savings, while others chose a little indulgence or a big experience."
"Sharing with the family Nikunj Jain, head of Asia research at Bridgewater Associates "I actually sent it all back to my grandparents, my family back in India. They've been a huge source of support and guidance." Christian Woo, Bank of America managing director and quantitative strategist "I bought a ticket back home to Hawaii, and I spent a couple of weeks with my family. My whole family and extended family are still based there, and I hadn't been home in a while." Catherine Kress, the chief of staff to BlackRock CEO Larry Fink " "I'm quite frugal from a spending perspective. So I never really spend much on myself. But after I got my first big bonus at BlackRock, I took my parents and my husband to dinner at Blue Hill.""
Ten early-career Wall Street professionals allocated their first substantial paychecks across family support, travel, savings, dining, and personal items. Some sent money directly to relatives or used funds to visit family for extended stays. Others purchased experiences such as upscale dinners or recreational gear like skis. Several prioritized saving or contributing to long-term goals, while a few balanced modest indulgences with fiscal restraint. Spending choices reflected cultural obligation, gratitude, practical planning, and personal enjoyment, showcasing varied priorities when handling initial financial windfalls in demanding finance roles.
Read at Business Insider
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