BofA Bonus Structure
Can someone explain how BofA gives bonuses in respect to the groups? Do C&R and REGAL get much higher bonuses than weaker groups like FIG or TMT? Do M&A and FSG get better bonuses than any of the coverage groups? How would top bucket at a group like M&A/FSG/C&R compare to EB bonuses?
Its somewhat of a black box but it can depend on group performance / revenues. Also where particular people rank across groups (360 review scores). Exceptional performers in average groups can get paid outsized bonuses if enough seniors pull for them. I'd still generally say it doesn't vary too much across groups based on what i've seen and heard from colleagues. Even good group bonuses are going to be less than the EBs for the most part. BofA comp also has a stock component after the analyst level (around 20% for associates, 25-30% for VPs, higher above that).
Thank you, makes sense. But what about the middle 10 analysts in TMT vs the middle 10 analysts in M&A? Is there a discrepancy there?
There might be a small but not much, probably 10k tops, pre-tax. TMT, especially the PA team probably isn't a greta comp as thats a good team.
At the analyst and associate levels in general, M&A is usually only slightly lower than coverage. It's not until the more senior levels where you see a large drop in compensation for M&A.
FSG is a coverage group
As an analyst/associate your pay doesn't vary too much. As said above, maybe an extra ~10k on average vs a weaker group but nothing material.
At the senior level when you are paid on commission, obviously better to be in a group that does more/larger deals
It’s a complete black box, no one knows. But seems like more people in the groups that are ranked higher on the street get top ratings, which makes sense.
FIG gets quite nice bonuses given that it's usually #1 fee generator.
Agree with above poster that highest fee generating teams pull in the largest bonus pot for A&As. However, not sure why OP thinks CoRe and REGL are good teams at BofA, they’re mediocre at best
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