Coporate Banking/Commercial Banking Associate 2017
Hi Everyone,
Has anyone received an offer for the 2017 Corporate Client Banking or Commercial Banking Associate programs yet? If so what was the comp?
Thanks all,
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Anyone who can shed some light on this would be appreciated. Thanks.
Sechin Capital
Saw some commercial banking analysts get promoted to Associate this year. Pay is ranging from $70K-$95K with 10-20% annual bonus. Hope that helps .
I am interviewing for a Commercial Banking Associate position with JP Morgan. What were your interview questions like? What can I expect?
Can't speak directly for JPM But can give you some tips. Understand deal flow- structure, JPM is lead left a lot so have a basic understanding of syndication process. As an associate you are expected to have good communication skills - verbal is important as you will need to be able to present deals to senior management and be able to negjotate with borrowers and their attorneys. Financial modeling and understanding account and the 3 financial statements goes without saying. Best of luck- great way to start a good career with good pay and a decent work/life balance.
Rookie questions but, what is the syndication process? What is deal flow- structure?
Rookie questions are good. Syndication process- banks all "share" the facility as no one bank wants to take on all of the risk associated with a large facility or the facility is over the hold limit of the bank. JPM is largely the lead in many of these transactions- so they largely determine the structure/pricing/terms and lead the bank group. That is lead left. Conversely some banks are "lead right" which means they are the "bookrunner or administrate agent" on syndicated deals. The banks who are the lead get the fee income- arrangement fee, admin fee, while the other banks share in the pro rata upfront fee and/or unused commitment fee.
Deal flow- the way the work gets done- timing, what needs to be done first. Really depends on where you are in your career where deal flow will be for you. Early career think basic financial analysis, modeling, risk identification and mitigations (applies to all aspects of career), Porters 5 forces and basic structure of matching assets to obligations/sources and uses. As you progress deal flow means when to engage internal counsel, working with deal team, engaging with client, asking client questions, ect.
Structure- basically remember that long term projects/assets get long term financing. Working capital uses revolving debt. Things get less clear when you have a strong company and the deal falls into a "general corp" umbrella such as in capital events/M&A both could be financed long term/short term or a combination. Usually general corp financing terms have to take into account what (if any) collateral is involved.
I could go on forever but hopefully this brief overview helps you .
Im starting with a BB in commerical banking and making 70k and a signing bonus
anybody here working in equipment financing per chance?
100-120k is typical associate base salary. Bonus varies widely by firm, should be within the 25-30% realm if you are part of "corporate & investment banking". There will also be variation by group as well.
How common is the Analyst to Associate promotion in Commercial Banking at BB's?
My group has no Associates as most people have left before putting in their time. We have 8 VP's in Credit, 5 or so bankers and 3 analysts.
Where I work- Associate promotions are gaining a lot of traction. What you have experience seemed to be the norm in BBs but not so much anymore. The industry is understanding that there needs to be more promotions/salary increases between Analyst and VP as most people were leaving before putting in their time and finding qualified people after working with someone for 3 year has proven to be more and more difficult in the less urban areas. I only know of the structure at a few places so I would say based on my limited knowledge it's 50/50 to have associates.
What is the typical Commercial Banking Associate salary at BB's?
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