I hear they are handing out $25 Dave and Buster's gift cards for top tier this summer!

Honestly, if someone from HR who was in the know were on these forums, they would probably be summarily fired if they were ever ferreted out for visiting here, let alone posting something confidential like that. AFAIK, your MD doesn't even know your final number until about 2-3 hours before you do.

 

people focus too much on what top tier bonuses are. what's more telling is what 2nd and 3rd tiers are. last year, by my estimation, about only 5%-10% of analysts at BBs got 1st tier ranking. significant majority were 2nd and 3rd tiers.

based on what i'm hearing from my friends at boutiques (which tend to has more clarity or be more predictable), i think this year's 2nd and 3rd tiers will be around $50-$60k (for 1st year analysts)

 

I won't specify the city, but historically we've been comped at or above street. Additionally, our hours have been on par with the street, especially this past year given capacity shortages on the junior levels (analyst and associate). Ball park 80-100 hours per week depending.

The rationale for our comp this year was that it was "in-line with the street" which I found curious considering the street hasn't released numbers yet. My recommendation for those at BB's is to re-align your bonus expectations.

 
whats-the-damage][quote=Devils Advocate:
I heard top was 65k for UBS 1st years

Can anyone confirm this??? According to Dealbreaker, UBS was going to wait for GS and MS to announce...

http://dealbreaker.com/2010/06/bonus-watch-10-ubs-stalling-for-time-gol…]

it's written ubs is releasing their numbers in mid-july (which is now)...the second part talks about JPM and how it's going to wait until GS and MS numbers.

-------------------------------------------------- "Whenever I'm about to do something, I think, 'Would an idiot do that?' And if they would, I do NOT do that thing." -Dwight Schrute, "The Office"-
 

I heard 50-65 for first years as well, which falls nicely into the previously expected range. Does anyone know what was range for second years? I can make a broad guess based on the first year range but would like to hear something concrete...

 

Walter Sobchak: So you have no frame of reference here, Donny. You're like a child who wanders into the middle of a movie and wants to know...

Basically me. I'm about to start last year of college and trying to break into IB and was wondering what bonuses everyone is talking about? I was told (and probably should do a lot more research) that you get a starting bonus, salary, and christmas bonus. Or is this where "Christmas in July" comes from?

 
schifm08:
Walter Sobchak: So you have no frame of reference here, Donny. You're like a child who wanders into the middle of a movie and wants to know...

Basically me. I'm about to start last year of college and trying to break into IB and was wondering what bonuses everyone is talking about? I was told (and probably should do a lot more research) that you get a starting bonus, salary, and christmas bonus. Or is this where "Christmas in July" comes from?

analysts get their bonuses in the summer. after that, they pay you year end. since the analyst program is more of a definite amount of time, they dont plan [usually] to keep paying you for the long run (like the higher-ups, who make more of a career out of it instead of a 2 year stint), so its just easier to pay in july. and i believe its trailing 12 months, so july to july (or some variation of the sort)

 

Thanks dew2229. One other quick question I have (sorry this is going a bit off topic) but another thing I hear is "You start off as an analyst, after 2-3 years, you go to grad school, then you work as an associate". Does the firm pay for your grad school? And what do you do while in grad school? I mean yes, there's attending classes and such, but do you still work for the firm?

 
fritos:
Wells top bucket (a 5) 1st year is 70k

While this may very well be true, the question to ask is how many analyst made top bucket?

Rumor has it 1st years got shafted at WF and that there are no top buckets...how that works is beyond me (and my source), especially considering the relative lack of deal flow last year but the large(er) number of a 5s WF had.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 
iphoned:
M-001:
Small MM shop > BB....

maybe for thsi year but not when things pick up. does anyone know about the other BB's and whether or not summer analysts get extra bonuses tto sign on for fulltime.

I was told that WF offered 5k to SA who accepted their FT offers by a certain date. I wouldn't think that most places do that, just not sure.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

cph bravo: Many more made top bucket (4 and 5) than last year. Unlike associates, analysts are paid in the summer and were shafted last year when huge deal flow kicked in 3Q and 4Q 2009, which is true for all banks as seen by the 40k bonuses last year.

This year's bonus reflects a more normal environment for analysts and yes there were quite a few top buckets. Even so, a 4 would get about 60k which isn't too shabby.

 
fritos:
cph bravo: Many more made top bucket (4 and 5) than last year. Unlike associates, analysts are paid in the summer and were shafted last year when huge deal flow kicked in 3Q and 4Q 2009, which is true for all banks as seen by the 40k bonuses last year.

This year's bonus reflects a more normal environment for analysts and yes there were quite a few top buckets. Even so, a 4 would get about 60k which isn't too shabby.

That's good news. My buddy works there and was getting concerned with what the bonus was going to be. He works more hours than anyone else I know in banking so it is probably deserved. Glad he isn't getting shafted. Thanks for the info.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

Based on confirmed and rumored reports, it sounds like top bucket has generally been coming in @:

First Year: $55-65k

Second year: $80-90k

Any contrary views? Any thoughts on whether bonuses announced in Aug will be higher / lower / in line with those already announced?

 

Not sure where these numbers are coming from but my understanding is that top at UBS for a first year was $55k and top for a second year was $70k. The ranges I believe are $40k-$55k first year and $55k to $70k second year. Does anyone know a first year at UBS that got over $55k or a second year that got over $70k?

 

UBS first year numbers may be inflated by $10k due to first year making $60k salary and second years making $80k. I believe top bucket for first years was actually $65k and top for second years was $70k. Mid bucket for first years I have heard was $50k.

 
Best Response
user1019876:
srr636:
apparently JPM is getting paid better than street...

What does that mean? "Street" is all over the place this year...

"Street" is shorthand for "Wall Street". 25 years ago, there were twice as many "bulge bracket" investment banks and they would all line Wall Street. Today, almost everyone is in mid-town, but the term stuck.

So when someone says "The Street", substitute in "the other bulge bracket firms headquartered in NYC" or "average".

 
anonrock:
James07:
anymore datapoints?

heard LAZ was 70K and CS was 65-70

lol @ this. Heard from primary source that Laz paid their TOP 2nd years 65k. They're the only boutique I know that underpays their outgoing analysts.

Would never go there if this, along with the crap i hear about culture is true.

Based on the posts in this thread, Harris Williams also underpays their outgoing analysts (top bucket for second years was 67.5k with a base of 75k). Important data point for those deciding on BB or MM banks.

 
anonrock:
James07:
anymore datapoints?

heard LAZ was 70K and CS was 65-70

lol @ this. Heard from primary source that Laz paid their TOP 2nd years 65k. They're the only boutique I know that underpays their outgoing analysts.

Would never go there if this, along with the crap i hear about culture is true.

I can personally confirm this. Lazard has been underpaying the street for a few years now, not just to departing 2nd yrs. Their 1st yr bonuses were low too (VERY few top tiers and most people got 50k or less).

Contrarily, dealbreaker just reported Blackstone M&A 1st yr bonus (85k), and 100% of their analysts got that. As usual, they paid WAY above the street (although their M&A group did have a GREAT year again)

 
GoVolckYourself:
MS #'s are significantly higher than those being quoted here ...

CS paid 100% of base to top tier so did MS ...

all these lowball figrues are from dudes who got paid low but don't want to admit they didn't get top so they all go and say #'s were low

I agree - many tier 2s and 3s in denial...

 

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