BAML - Investment bankers paid less and unsatisfied?
At the risk of getting some monkey shit thrown from other users, I would like to ask if the investment bankers at BAML paid significantly less than than the average and are less satisfied than the others? I have spoken to a few TMT bankers in the last 2-3 months and none of them seemed to be happy. I know banking is not a career for everyone. But even with this smaller sample size, BAML TMT bankers seemed to be paid much less than other bankers (base + average bonus) at the associate level (1st year through 3rd year). They seemed to be making less than 200k on an average base+average bonus. Is that the case for 1st year banking associates across the industry or is it just BAML? Thanks.
also interested
I used to work for BAML. I do not work for them anymore. Does that answer your question?
It was a mass exodus, mostly because certain groups in BAML are highly sought after, and also because there were better places to work (culture wise).
BAML did not pay great bonuses last year across the firm but historically has been at the higher end of the street. Not top but they pay well. They saw a lot of attrition and will most likely not repeat this again. Think the range for A1s last year was $70-140 if I remember correctly. They had massive legal fines last year. They paid at the high end of street for analysts this year
TMT in NY or West Coast?
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