PNC salary?

Cries:

Not familiar, but I'd place it around 50-60k, plus a meager bonus. The majority of their positions are corporate banking - so you will probably be disappointed if you have your heart set on 70salary + 10signing + 40bonus.

Edit:

I'd also be interested in knowing what they pay, if anyone has the facts

I specifically referred to their capital markets groups...

5trader90:

capital markets groups are 70K + 5K sign on. Group specific offer will possibly give 7.5K sign on. Speaking with MDs and Associates... ABS (NY) and Loan Syndications (Pittsburgh) are their best groups. syndications bonuses: 15K-40K ABS bonuses: 20K - 60K I don't know about financial sponsors or the trading rotation. Not bad for the hours (60-80/ week) or location if in pittsburgh (that money will go a long ways).

Thanks! Location is in Philly and the group is FIG. I'm not entirely sure what it is but I think it's a trading/sales rotation program so I'm guessing the base is still 70.

5trader90:

All capital market track positions pay base 70K with varying bonuses (below street).

This includes their DCM, S&T (hardly s&t), ABS, and a few other areas they include in "capital markets" track. Harris Williams is the true Investment Bank under the PNC umbrella.

I do not know what the corporate banking track pays.

Thanks for the info, what exactly do you mean by "hardly s&t"? How Is it different from s&t at other banks?

22 Hourly for intern in large city or 20 in cheaper COL (Also varies if you're a sophomore or in capital markets). 60k+7.5k signing for corporate banking.

They offer internships. They recruit at Carnegie Mellon a lot, based in Pittsburgh. Also recruit randomly elsewhere and the questions are mostly behaviorial. Interviewed for IBD, it was pretty easy and not as technical as the Wall St. big players.

Thanks, now you do mean analyst recruiting right? and do you know if they have an office in New York or do they work mainly out of Pitt? So have you worked for them? How was it?

Mine was a SA but from what I've heard the FT is quite similar as well (based on behaviorial/fit and not so much technical info). They do have regional offices just about everywhere and I would think so in NY.

I personally declined an offer but I know several friends who did work for them. It depends on who you work under and where you work. Definitely try to get Pittsburgh (I know the city blows) but everyone who has worked there has had a pleasant experience, listing the management as friendly and helpful. Because they said that though, its probably not as competitive or aggressive as Wall St. but it can be a great experience. The guy who talked to me was dealing with steel/raw materials or something. He seemed really chill and was a CMU alum who also interned there before taking the FT.

thanks for the info. I have just never heard of them recruiting anywhere around me so I was not sure.

I'm not familiar with PNC recruiting, but I know National City had an investment banking arm that recruited undergrads. Nat City was acquired by PNC, so that could increase their recruiting efforts.

Harris Williams, a respectable middle market investment banking shop, is a subsidiary of PNC.

I would choose HW over PNC.

Pittsburgh - Syndicated+Leveraged Finance (low to mid market financing)

NYC - New office, Primarily securitzation/structured finance (credit card & auto loan receivables, asset backed securities, various types of securitized financing for investment grade/speculative companies)

I think one of their major clients is dunder mifflin. Talk about prestige.

The world has changed. And we must change with it.

friend just got an offer in pitt for SA, they said he'll be working under corporate banking? wtf is that?

PNC's corporate bankers are their relationship managers for corporate clients.

got it - thanks.....do they actually do any advisory sorts of services? or is it primarily lending related stuff?

their whole business is advisory. they refer clients to PNC's specialized teams, be it commercial lenders or derivatives traders.

Just to add, typical hours as well?

comp is street in terms of base and bonus. hours will be far less probably in the 70 average area

Interested too.

bump

For IB first year analysts started out at 70k in 2011 with a sign on of 7-10 with another bonus through the year. All together you are looking at 80-90k all in first year. You will also most likely be in Pitt, Cleveland, Philly, or NYC as that is where most of the cap markets groups are based.

Do they still pay street in terms of base and bonus?

80-90K all in 1st year.

Like 65 base, 7-10 sign on, rest bonus. A friend of mine recently got an offer and that is what they gave him for an all in target.

Does this include their PE funds?

Are you talking about PNC PE in PGH? As far as I know it is a separate, branded entity. Just like their mezz group.

I think they have two PE funds as of this year. One is still part of PNC and another was broken off from the original fund when the partners and senior people decided to go off on their own. I was just wondering if these salary numbers reflected this PNC PE group but I think you're talking about IB now that I've read it again.

Side note.... Incline Equity Partners is the spin-off from PNC

I heard the MDs there go to bat for analysts.

I would say investigate the program very closely... and the kind of work you would be doing seemed nothing like BB s&t programs... as far as trading they have a very small group of traders that hold positions but all the rest are completely flow... when an MD there saw my resume with x BB on it, commented, and I asked how their program would compare to where I previously worked since I worked with the s&t kids first hand... he said there's was nothing like that and echoed that what they did was not really working on wallstreet...

my assessment was that the vast majority are in sales and sell pre-packaged trades to mid-small sized corporations (no AM/funds)

I hear the traders there go to bat for the salesguys, placing them into good Macy departments.

Cap markets base is now $85k with $15k sign-on, bonuses vary from $10k to $40k (or so I've heard). You can expect around a 5-7% annual bump first year.

In terms of culture, very laid back, most people don't work nearly as hard as they should be.

Just want to confirm this is accurate. I have close friends there.

Idk about post Analyst level.

Will also confirm the base is accurate as far back as 2018. The culture is hit or miss depending on what people want. The CM groups are probably among the best pay/hours in ib. The people I know are working 50-60 hours a week max. Don't think people are grinding very hard though if that's what someone is looking for.