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Wall Street Oasis » Forums » I-Banking Bullpen
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Associate base pay #'s 2013
 

bankersball's picture
bankersball
     
 
(Monkey, 60
 
Points)
 on 1/17/13 at 1:00am
base pay.jpg

Long-time reader but first-time poster. Hope the jungle creates some noise on this.....

I've seen a lot of info on Associate bonuses from Y0 to Y3.

Would like to know how Associate base pay is currently moving from Y0 to Y3 at a BB and MM (HL, Blair, Baird, Harris Williams, etc.).

Are we still looking at BB post-MBA Associate pay at

Assoc 0: $100K
Assoc 1: $115K
Assoc 2: $130K
Assoc 3: $145K

Anyone have figures for MM banks?

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Tags:
  • 1st Year Associate Salary
  • I-Banking Bullpen
wiseguy's picture

BB:, 100, 120, 140, 160

wiseguy
     
 
(Baboon, 133
 
Points)
 on 1/16/13 at 2:25pm

BB:, 100, 120, 140, 160

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lasampdoria's picture

Not bad. Not bad at all.

lasampdoria
      CF
 
(King Kong, 1,430
 
Points)
 on 1/16/13 at 2:50pm

Not bad. Not bad at all.

"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety."- Benjamin Franklin

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bankersball's picture

Sounds legit for BB's.

bankersball
     
 
(Monkey, 60
 
Points)
 on 1/16/13 at 3:13pm

Sounds legit for BB's. Anyone know if MM shops are doing the same? Would be great to get some #'s, Assoc level and the name of the shop.

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AnalystMonkey2769's picture

sorry if this seems obivous

AnalystMonkey2769
      IB
 
(Gorilla, 501
 
Points)
 on 1/16/13 at 3:23pm

sorry if this seems obivous or stupid lol but what is year "0"? is that simply when you start as a first year associate? why not call the first year associate Y1 second year Y2..etc.

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG

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WallStreetPlayboys's picture

The original post is accurate

WallStreetPlayboys
      O
 
(Gorilla, 741
 
Points)
 on 1/16/13 at 3:24pm

The original post is accurate for most MM shops:

Assoc 0: $100K
Assoc 1: $115K
Assoc 2: $130K
Assoc 3: $145K

This is quickly changing though and it's moving more towards the 100, 120, 140, 160.

More importantly, seeing an increase in "group specific bonus". Eg. If you work in a group that kills it and you are on the right deals your bonus actually is impacted even at the associate level. Before it was not a huge band but that tide seems to be turning.

60-120% of base as bonus is a much wider range than many previous years where it was tighter in the 70-110 range or so.

There are always exceptions, so not trying to turn this into some not picking contest, the real extra takeaway is working for the "right" group seems to be increasing in value (eg. Before they would "share" more of the good and bad years, if one group was up of down). Increasing trend becoming more "eat what you kill"

WallStreetPlayboys.com

Twitter @WallStPlayboys

Get paid, Get Laid. Nothing else matters.

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bankersball's picture

Thanks - good intel my man!

bankersball
     
 
(Monkey, 60
 
Points)
 on 1/16/13 at 3:36pm

Thanks - good intel my man!

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bankersball's picture

Does make it confusing I

bankersball
     
 
(Monkey, 60
 
Points)
 on 1/16/13 at 3:38pm

Does make it confusing I agree. Seems like the convention is to call the 6-7-month period post MBA (graduate in June) until Jan of the following year the Assoc 0 period.

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abacab's picture

Summer Associate base is 100K

abacab
      IB
 
(Senior Gorilla, 852
 
Points)
 on 1/16/13 at 6:02pm

Summer Associate base is 100K prorated for my BB offer.

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AnalystMonkey2769's picture

so Y0 is simply a 1st year

AnalystMonkey2769
      IB
 
(Gorilla, 501
 
Points)
 on 1/16/13 at 9:21pm

so Y0 is simply a 1st year associate and Y3 is a 4th year associate?

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG

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cphbravo96's picture

AnalystMonkey2769: sorry if

cphbravo96
      PE
 
 
(Senior Neanderthal, 4,991
 
Points)
 on 1/17/13 at 2:33am
AnalystMonkey2769:

sorry if this seems obivous or stupid lol but what is year "0"? is that simply when you start as a first year associate? why not call the first year associate Y1 second year Y2..etc.

It is a peculiar convention, but the reason has to do with when bonuses get paid out. As an analyst, you get paid your year end bonus at the end of your entire first year, same with the second year analysts, etc...so you start in June/July and one year later, in June/July, you get your bonus number (though probably not actually paid out until Aug/Sep).

For associates, they label the A0 to reference your first 5 or so months on the job because they pay your bonus at the end of the calendar year, to align with the rest of the bank's bonus payouts. Presumably, the thought is you are not just going to be there for a couple of years and leave, so they are putting you on a regular bonus schedule. I'm sure the idea there is so they aren't paying out relatively high bonuses a quarter or two before the actual year end results are in. The other possible factor is the pay bump/progression. From an HR standpoint, there has to be some sort of mechanism to distinguish between the pay grades, if you will, of the all the different associates. Instead of saying, yeah the second year associates (who have only been 17 months) get $XXXk bonus, etc.

The actually reason why they use 0-3 instead of 1-4 is probably unknown. My guess would be so there is less confusion when comparing numbers across years. When I see the A0 designation, I immediately recognize that it's an abnormal naming convention and it clues me in that the comp numbers might not be equivalent. For example, an A0 are probably going to make $50k salary (prorated $100k base) plus a prorated bonus of maybe $80k...so their total comp (excluding sign-on, relocation, etc.) is going to be around $130k...which looks odd when compared to the $260k or so an A1 makes.

Truthfully, it's probably not even an official designation. More likely it's something a bunch of WSO'ers derived while trying to compare salaries across banks, lol.

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

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cphbravo96's picture

AnalystMonkey2769: so Y0 is

cphbravo96
      PE
 
 
(Senior Neanderthal, 4,991
 
Points)
 on 1/17/13 at 2:54am
AnalystMonkey2769:

so Y0 is simply a 1st year associate and Y3 is a 4th year associate?

Technically they are in their 4th calendar year of working at the bank, but they don't have 4 years of experience. In actuality, a Y3 is somewhere between 2.5 and 3.5 years.

It basically looks like this...

.....A0..............A1..............A2..............A3.....
6 months + 12 months + 12 months + 12 months

The best way to think about it might be to say the number references the 'full year bonus' that person is going to get. A0 doesn't get a full year bonus, A1 gets their first full year bonus, etc.

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

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AnalystMonkey2769's picture

Ah got it, thank you both for

AnalystMonkey2769
      IB
 
(Gorilla, 501
 
Points)
 on 1/17/13 at 5:51am

Ah got it, thank you both for the clarification!!

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG

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banker00's picture

bb assoc0: $95K

banker00
     
 
 
(Orangutan, 253
 
Points)
 on 1/17/13 at 10:07am

bb assoc0: $95K

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KarateBoy's picture

bankersball: Would like to

KarateBoy
      AM
 
(Senior Orangutan, 376
 
Points)
 on 1/17/13 at 10:24am
bankersball:

Would like to know how Associate base pay is currently moving from Y0 to Y3 at a BB and MM (HL, Blair, Baird, Harris Williams, etc.).

Anyone have figures for MM banks?

http://www.wallstreetoasis.com/company/william-bla...

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overpaid_overworked's picture

I had been worried that I

overpaid_overworked
      ER
 
 
(Senior Orangutan, 417
 
Points)
 on 1/17/13 at 10:28am

I had been worried that I accepted too low an offer, feeling better about the decision now.

Has anyone negotiated a 1st year Associate base salary? Anyone successful?

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tera6ws's picture

this is great, thanks all

tera6ws
      PE
 
(Chimp, 14
 
Points)
 on 1/17/13 at 2:06pm
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Angus Macgyver's picture

Interesting. ANALYSTS at Y1

Angus Macgyver
      IB
 
(Gorilla, 712
 
Points)
 on 1/21/13 at 7:46pm
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  • Hello fellow monkeys. A few weeks ago I was admitted, and have now formally accepted my transfer admission from a community college into UCLA's Business Economics program for this fall. I've started thumbing through the catalog of courses for my major (and a potential minor in accounting)...
    UCLA Biz Econ Reviews?
  • With the great acceleration of WSO Certified Users has come an awesome collection of interviews, general Q&As and AMAs that we have compiled into 1 place. If you hover over the FAQ menu above and click "Best Interviews", you will find an awesome array of Q&As from some of WSOs...
    Best Q&As and Interviews on WSO
  • Can anyone chime in on working this...
    Piper Jaffray Public Finance?
  • I went to a career event at my school and a senior manager at a consulting firm was speaking there. We talked for a bit after and he gave me his business card. I'm looking for a summer internship - how do I make use of this card? Also, do large firms/companies ever hire interns unofficially...
    Got a business card at a school event - how to ask for an internship?
  • Hey guys, So I am very new to this....I know about the CFA and the CPA , but I recently read something about some ''series'' exams, such as series 7 and what not, and it sounds like taking and passing those would be easier and cheaper for someone with no background in...
    Series....series... 1, 2 3, 6, 9, damn you are fine
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Upcoming Events

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  • Advanced M&A Accounting & Tax Topics Webcast (Live)
    May 21 2013 - 11:00pm - May 22 2013 - 2:00am
  • Boston WSO Happy Hour - Wed May 22nd, 6PM
    May 22 2013 - 11:00pm - May 23 2013 - 1:00am
  • Financial and Valuation Modeling Boot Camp (Dallas)
    May 23 2013 - 1:00pm - May 25 2013 - 10:00pm
  • Shanghai Happy Hour May 24th Friday 7:30PM - 10:30PM
    May 24 2013 - 12:30pm - 3:30pm
  • Hong Kong Networking Event - Happy Hour, May 24th, 7:30PM
    May 25 2013 - 12:30am - 2:30am
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I used to work with a guy that had everything on the surface, but absolutely nothing inside. The guy was 6 feet tall, good-looking, charismatic, multi-lingual, graduated from a top business school, and had made MD at a bulge bracket investment bank. Yet he couldn’t remember the last time he...
How to Develop a Personality
<em>Mod note (Andy): we vetted this user to confirm his identity/status and yes in fact he is who he says he is, and is eager to answer your questions :)</em> Bio: I decided to join WSO to help both students and young professionals advance in their Finance careers, whether that be...
I'm an MD and I run the Sales division: Ask Me Anything
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,...
A Perfect Storm
I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local...
Ask me anything… I'm a Private Equity Analyst in Shanghai
You've just gotten that promotion and now you're in charge of a small team. Congratulations! And welcome to middle management. All the hard work and the knowledge you've developed about everything your firm does these past few years has been noticed. But, now you have a small...
7 Things I've Learned About Being A Manager
Assuming that you have access to no financial products such as FactSet, Bloomberg, CapitalIQ, Thomson or otherwise, thought it would be helpful to give a step by step guide on how to ramp up on a new company from your home computer. Using FaceBook as an example. Lets go ahead and start with the...
Basic Guide Ramping Up On A Company With Public Information (Part 1 of 3)
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
<em>“You know, In The Flesh,”</em> a WSO monkey told me at a recent Happy Hour, <em>“that gentleman’s book is the real deal. I ordered that shit on Amazon as soon as I read your review. It’s so right, man. I want to be like that: keep my word, honor my commitments, be...
Being A Gentleman, Revisited
<em>Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap</em> There I go...
In Praise Of High Interest Rates
<em>Mode note: Blast from the past - "Best of Eddie" - this one is originally from December 2010.</em> Monty09 may have gotten the best plug yet for his <a href="http://energyrodeo.com/">Energy Rodeo</a> in Houston next month, and it came from none...
New York vs. Houston
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Poll

Why would you NOT go to the 2013 WSO Conference?
N/A - Already bought my ticket, see you there!
24%
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5%
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19%
Can't afford travel expenses
38%
Waiting until last minute to make a decision
0%
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10%
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0%
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5%
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