Class of '07 Analyst pay

60+10 seems to be the standard
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Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...

It's

60 + 10 for me

60 + 10 CDN for the Canadian banks

75-90 + 10-15 CDN for the canadian BB offices

Where do you guys go to school and what banks?

That seems high - i m moving up north!

It's in canadian currency which is worth less than usds.

nevertheless that still sounds pretty high, considering the cost of living in Toronto is much lower than say New York.

That 75-90 is the base salary and the 10-15 is the sign on bonus...correct? What can you expect as a year end bonus for a CD BB?

What banks are you at in cad?

wow i need to kill myself right now.

60/10 for my new york bb

MS, ML, CS, UBS, Citi all pay 80+ CDN base in toronto as far as I know. I think BofA. HSBC and others pay closer to the CDN firms like RBC, CIBC, TD, etc(60-65 base). GS and Lazard are shell offices with only 2-3 analysts. Lehman is supposed to be setting up an office but no real presence yet. Not sure about DB's presence but I don't think its substantial. Not sure about pay at JPM toronto but they have decent presence.

bonuses are similarly converted, so all in this past year (best year in a long time, obviously) was in the 140-180 range for first years, plus signing bonus. They don't hire many people though - each office might have an incoming analyst class of 3-7 people, so they pay high to attract the top candidates from Ivey, queen's, mcgill, etc.

40 - 45k starting.....

That's right

CIBC DCM is 60K Base, 10K Sign on (All in CDN$)
RBC IB is 65K Base, 5K Sign on

Bulge Bracket in Canada is doing 75-90K CDN with 10-15K signon.

So as usual the Bulge pays better but for Canada, starting off in the bulge sometimes backfires depending on the bank since some groups are for support rather than execution.

USD: 60K + 10K bonus

Rumor is that UBS and Lehman are paying 65K. Is this true?

no!

I'm in London

Lehman is 60 + 10

heard 60/10 from folks in my group. ny bb

65 + 5 at Canadian Big 6

Hey is it hard to get a job at a BB in Toronto if you went to college in the US?

$80k+ CAD...that's still more than $60k USD considering the fact that the USD is much weaker and it's about 1.1 CAD to 1 USD now.

by the way, $95k CAD is equal to $84k USD.

Yeah I'm uber bullish on the canadian dollar especially given recent tax legislation regarding certain investment vehicles

After crunching the numbers, I made the following conclusion:

F*ck New York/Chicago, I'm going to Toronto. I can always go to New York as an associate.

what is they typical pay bonus range for an operations first year analyst?

$60K for first year?

holymonkey:

yes, it is hard to land a BB spot in Toronto. The total number of analyst spots available per year at all the non-canadian banks would add up to less than 1 incoming class at the NY office of a BB.

I highly doubt u'll get a huge ye bonus if you're working in operations. But I've heard that ops entry-level analysts in NYC get similar starting salaries to those in IBD (ie. 55k + 10k).

Apparently their bonuses rarely exceed 20%. Usually stay at the 5-10% level.

You should come to London...we make more over here.

If you go to Toronto...you'd have to live in Toronto! Not the most exciting city for a young person with money to spend.

Got a couple of friends working in Lehman London and paying rents of up to

Where do they live?! I've looked at rents in Central London near the City and Canary Wharf at

Why would it be worth it to work 80-100 hours a week to get 60+10, when I know plenty of guys getting offers at midlevel tech firms for various engineering jobs, as well as MIS and DBAs, all getting around 55+5 and working only 35-40 hrs a week... it just doesnt make any sense!

you're forgetting the yearly bonus - 75%-125% of your base salary for first years this year. The 10 is signing bonus.

Yeah we're talking about base pay here. Also there isn't as much long term earning potential in tech without advanced degrees. They will plateau way before bankers do.

You sure 75% would be the lower range? I would've always thought the better range would be 50%-100% in your first year.

As noted- 60 base, 10 relocation is "street".

Hearsay is Citi and Goldman were offering 65 base and 15 sign-on.

Few friends from school (non-target) received offers in ops, with 55 base 10 relocation. No mention of eligibility to participate in y/e bonus.

As noted- 60 base, 10 relocation is "street".

Hearsay is Citi and Goldman were offering 65 base and 15 sign-on.

Few friends from school (non-target) received offers in ops, with 55 base 10 relocation. No mention of eligibility to participate in y/e bonus.

Citi paid 15 K signing bonus to my friends. 60/10 is what I got. What do you guys expect bonuses to be like for the class of '07

Pretty sure GS was 60/10. I do now know if they pay different analysts differently.

I haven't heard of any BB's paying differently.

w/ bonus, total comp should be over 100K in the first year...not bad for someone just coming out of college! (That is, if you haven't started the next billion dollar YouTube)

No shit it's hard, but is the fact that I went to college in the US going to hurt me if I apply to BBs in Toronto?

Everyone is getting 60-10.
I am and I have confirmed this with my friends at these places in both IB and S&T

Goldman
Morgan Stanley
UBS
Deutsche Bank
BofA and Wachovia, both Charlotte and NYC
Citi
Lehman
Barclay's

But you have to be proactive if you want to work in BB in Canada. Ivey / Queens pretty much dominate canadian BB.

some are getting 15K sign on bonus if they are retained from the summer

In this morning's WSJ first year analysts out of undergrad this year will make 130-150

I've got a college mate in Lehman (07' class) getting offered:

60k (base) + 10k (sign-on) + 10k (relocation payment)

Anyone else got such a package? Seems like most 07' analyst are getting 60+10.

James,

Did your "college mate" spend the summer with Lehman? Is it in NY?

Also, I thought Deutsche's pay scheme was such that employees are paid overtime. Or atleast that was the word around June, before summers began. Any truth to that?

I am surprised that the relocation package is separate. I was told the signing bonus is in lieu of the relocation costs involved.

Yeah James I believe you are mistaken. The relocation is the signing, firms do not offer both.

I'm getting a signing bonus and a relocation bonus, listed separately in the contract.