Below is the complete Salary and Bonus Compensation database for 2007 as published in Trader Monthly. You asked and I delivered. I am sorry but they did not include any data for analysts.
Credit Derivatives
Position Base Bonus +/– '06
Associate (1–2 years) $70,000–$80,000 $80,000–$100,000 –14%
Associate (3rd year) $80,000–$90,000 $175,000–$200,000 -6%
V.P. $100,000–$125,000 $500,000–$600,000 -8%
Director $150,000 $1 million–$2 million -12%
MD $200,000–$250,000 $1.7 million–$2 million -5%
Position Total Compensation
Global Head $6 million
Head of Americas $3 million–$4 million
Investment Grade
Position Base Bonus +/– '06
Associate (1–2 years) $65,000–$75,000 $60,000–$75,000 +23%
Associate (3rd year) $80,000–$90,000 $80,000–$100,000 +13%
V.P. $125,000 $450,000–$550,000 +11%
Director $150,000 $750,000–$950,000 +6%
MD $200,000 $1.25 million–$1.75 million +20%
Position Total Compensation
Head of Americas $4 million
Interest Rates
Position Base Bonus +/– '06
Associate (1–2 years) $65,000–$75,000 $70,000–$80,000 +15%
Associate (3rd YEAR) $80,000–$90,000 $80,000–$100,000 +13%
VP $100,000 $500,000–$600,000 +10%
Director $125,000 $1.25 million–$1.75 million +17%
MD $150,000–$200,000 $2.5 million–$3 million +12%
Position Total Compensation
Global Head $10 million–$15 million
Head of Americas $8 million–$10 million
High-Yield
Position Base Bonus +/– '06
Associate (1–2 years) $90,000 $80,000–$100,000 0
VP $100,000 $250,000–$300,000 10%
Director $125,000 $500,000 0
MD $150,000 $1.5 million–$2 million 0
Position Total Compensation
Head of Americas $4.5 million
Mortgage Backed Securities
Position Base Bonus +/– '06
Associate (1–2 years) $65,000–$75,000 $50,000–$70,000 –20%
Associate (3rd year) $80,000–$90,000 $70,000–$90,000 –9%
VP $100,000 $300,000–$400,000 –22%
Director $125,000 $700,000–$900,000 –36%
MD $150,000–$200,000 $1.5 million –40%
Position Total Compensation
Head of Americas $5 million–$6 million
Head of CMBS $4 million
Head of CMOs $3 million–$4 million
Municipal Derivatives
Position Base Bonus +/– '06
Associate (1–2 years) $60,000–$70,000 $70,000–$80,000 –6%
Associate (3rd Year) $70,000–$90,000 $100,000–$120,000 0
VP $100,000–$125,000 $225,000–$375,000 –8%
Director $150,000 $550,000–$750,000 –7%
MD $200,000 $850,000–$1.15 million –9%
Position Total Compensation
Regional Head (Trading) $1.75 million–$2.25 million
Emerging-Markets Debt
Position Base Bonus +/– '06
Associate(3rd year) $90,000–$110,000 $110,000–$130,000 +9%
VP (3rd year) $125,000–$150,000 $350,000–$400,000 +8%
Director (3+ years) $175,000–$200,000 $1 million–$1.4 million +9%
MD (3+ years) $250,000 $2.5 million +11%
Position Total Compensation
Global Head $4.5 million
Head of Americas $4 million
Structured Credit
Position Base Bonus +/– '06
Associate (1–3 years) $100,000 $150,000–$200,000 –30%
VP (3rd year) $130,000–$150,000 $400,000–$500,000 –18%
Director $150,000 $900,000–$1.1 million –10%
MD $200,000 $1.5 million–$2 million –36%
Position Total Compensation
Global Head $8 million–$9 million
Head of Americas $5 million
Head of CDOs $3 million–$4 million
Structured Finance
Position Base Bonus +/– '06
Associate $80,000–$100,000 $80,000–$100,000 –25%
VP $120,000 $300,000–$400,000 –30%
Director $150,000 $500,000–$600,000 –21%
MD $200,000 $1.1 million–$1.3 million –20%
Position Total Compensation
Global Head $7 million–$9 million
Global Head (ABS) $6 million–$8 million
Head of CMBS $4 million
Head of Americas $4 million
Commodities
Position Base Bonus +/– '06
Associate (1–2 years) $80,000–$100,000 $120,000–$140,000 +30%
Associate (3rd Year) $90,000–$110,000 $160,000–$200,000 +38%
VP $125,000 $550,000–$700,000 32%
Director $150,000 $800,000–$1 million +29%
MD $200,000–$250,000 $5 million–$7 million +50%
Position Total Compensation
Global Head $10 million–$12 million
Head of Americas $7 million–$9 million
Foreign Exchange
Position Base Bonus +/– '06
Associate (3rd year) $85,000–$100,000 $70,000–$90,000 0
VP (1–2 years) $95,000–$110,000 $300,000–$400,000 0
VP (3+ years) $125,000 $400,000–$500,000 0
Director $125,000 $1 million–$1.2 million 0
MD $150,000–$200,000 $1.5 million–$2 million 0
Position Total Compensation
Global Head $4 million
Head of Americas $2.5 million
Equity Derivatives
Position Base Bonus +/– '06
Associate (3rd year) $100,000 $200,000–$250,000 +13%
VP $125,000 $400,000–$500,000 +13%
Director $150,000 $1.1 million–$1.3 million +9%
MD $200,000 $1.5 million–$1.8 million +10%
Position Total Compensation
Global Head (Trading) $9 million–$11 million
Global Head (Volatility) $8 million
Head of Americas $6 million
Convertible Bond
Position Base Bonus +/– '06
Associate (1–3 years) $60,000–$80,000 $70,000–$90,000 +14%
VP/Director $100,000–$125,000 $450,000–$500,000 +11%
MD $200,000 $850,000–$1.1 million +8%
Position Total Compensation
Global Head $3 million–$4 million
Head of Americas $2 million–$3 million
Equity Cash
Position Base Bonus +/– ’06
Associate $70,000–$90,000 $90,000–$110,000 +11%
VP $100,000 $650,000–$750,000 +8%
Director $150,000 $800,000–$900,000 +3%
MD $200,000 $1.5 million–$2 million +8%
Position Total Compensation
Global Head (Trading) $7 million–$9 million
Global Head (Volatility) $6 million
Head of Americas $2.5 million–$3 million
thanks for posting :)
Sure glad I wasn't in mortgage-backed securities, that looks like pure bloodshed.
Predictions for 08 anyone? I'm guessing bloodshed in all areas except maybe commodities/emerging markets.
On my trading floor, first year analysts (i.e. first real bonus after stub) got close or exceeded the associate numbers here.
I know trader monthly is known for being a bit over the top, but are these numbers generally regarded as accurate? if so, I'm majorly depressed right now (granted I'm in prop and not a BB desk). sigh.
It's pretty sad how low the base salary for associates in trading are. So someone with an MBA from harvard or wharton, will only get a base salary of around $80K for some of these jobs, which is barely higher than a banking analyst straight out of college. That's pretty pathetic.
The low base salaries for associate make me question this data. As far as i know, every single BB bank pays a base of $95k for MBAs in S&T. This doesn't vary by desk. This is also the base salary in banking.
Anyone know what the estimated Summer 2008 bonus numbers will be for 1st and 2nd year analysts in S&T will be at a BB?
Associate doesnt always mean MBA in S&T. You should know that. This data was published in trader monthly. They partnered with Options Group www.optionsgroup.com in the collection of data.
Of course, if they are just overpaying MBAs in base salary for the same job, then that is fine with me.
commodities seems to be making a lot of money.
associate numbers seem low, everything else seems high, but there is a wide range of vp level employees i guess
roughly, what percent of analyst make it to associate? what percent of associates make it to vp? etc.
I think these numbers would be for S&T positions at major banks.Does anyone have a clue as to what these numbers look like for a commodities S&T associate position at Energy & uility companies-Exxons,Constellations,Reliant,BP,etc?
I am glad I am in London... But again, London's cost of living is higher. I thought MBAs are completely irrelevant in S&T, correct me if I am wrong though. And I also heard that base salaries don't increase much from analyst to VP, it's just the bonus that climbs exponentially. Again correct me if I am wrong, I won't take offense :)
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
Isn't the MBA generally unnecessary for promotion from Analyst to Associate in London, even in IBD? I summered in IBD in London, and guys on my team looked at me funny when I asked about people potentially leaving to get an MBA.
"It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879)
"Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel
I don't even know why bonus numbers are posted for anything past associate. If you are trading you are paid a % of your PNL and you may have a guarantee.
Traders who make 25 million would expect a 2.5 MM bonus and a trader who lost money would expect no bonus or to be fired.
Concerning the compensation of commercials such as your oil majors, I worked on the energy trading floor of BP and those traders (like the rest of the industry) get 10% of their annual P&L. However, because of their hedge exemption with the NYMEX, their books are WAY bigger than BB's and HF's. For example, in 2006, BP's top book had a P&L of $250 million, so the book lead took home a nice bonus of around $15-20 million.
wow, these numbers look way low
Lol, that is a wonderful thing to hear. These numbers make my head spin.
"Oh - the ladies ever tell you that you look like a fucking optical illusion?"
what are the figures for something like prime brokerage?
i was wondering also whats the #'s for prime brokerage financing or sales?
I'm also interested to find out the range for sales. Thanks
Anyone know any numbers for securities lending?
Do these numbers go (more or less) for sales as well?
Wake up dude, this is 2007 compensation. Did you live in a dark cave for the past 4 years ?
Bonuses today are probably half of those numbers if not less
know this will be difficult to do, but anyone with good color share to post where they think pay shakes out by position for this year
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