Best Response

Damn, that would be pretty nice. I guess most top IB candidates either want elite boutiques or, more likely, dont have the interest in IB that prior classes had.

If I had to guess, Morgan Stanley has to be losing a lot of candidates to tech, MBB, and buyside analyst positions to make this move. The reason banking has been so popular is because its always paid very high relative to the competition, pay has been 70k base for a while now and top candidates just arent seeing it as "worth it" compared to other attractive options that (in their mind) arent going to crush you with hours.

85k+ base with signing and a healthy year-end bonus is pretty hard to beat for any entry-level job though, even in NYC.

 

This raise only applies to Associates and VPs. Does not apply to analysts. It is not 100% yet. It was mentioned during the ISG Q2 review. It still needs to be signed off by the top execs. Also, employees are not sure if this means bonuses will be reduced. The words were "we understand associates and vice presidents are having 'cash flow issues'". I am of the opinion that bonuses will be reduced -- maybe not by the full 25%, but at least partially. Or the bonuses will now be a lot more deferred / stock based comp.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
 

i guess it's a given that other top banks will follow suit, but any idea if this will affect MBB pay? if 1st year associates went from making a base of 125k to now ~155k, that puts them a solid 15-20k ahead of post-MBA MBB starting base salary. seems like MBB will need to adjust their salaries in order to keep up especially when you factor in the small consulting bonuses compared to IB bonuses (even if IB bonuses now take a 25% haircut).

 

I heard from AS/VP that the 25% increase was offset by their lower bonuses. More cash-flow but the all-in comp remains unchanged... that means there's on need to wait till the bonus season to jump ship!

 

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