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Wall Street Oasis » Forums » I-Banking Bullpen
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What is bottom/mid-range bonus?
 

nebanker's picture
nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/15/08 at 8:20pm

Hey guys,

So I know that "reported" bonuses were about $80K for first-years last year at BBs. I'm wondering what average and lower-bucket bonuses were, and, if anyone knows, how the breakdown usually works - ie what percentage usually get which bucket. I'm a first-year at a BB and contemplating whether I want to stick it out...I'm not enjoying banking and figure my options are to either stick it out and go through the motions in order to get my bonus, which would probably end up being middle bucket but maybe lower bucket if I don't put a whole lot of effort into it, or resign now and do something else. Any thoughts?

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  • I-Banking Bullpen
sobepehopeful's picture

Huh?

sobepehopeful
      O
 
(Senior Monkey, 68
 
Points)
 on 1/15/08 at 8:42pm

If you don't mind me asking what is it that you don't like?
Is it your Associate, your group?

I'm assuming you did all your homework before going into banking so you already knew about the hours and grunt work

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nebanker's picture

Frankly, it's the hours. Of

nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/15/08 at 8:51pm

Frankly, it's the hours. Of course I knew what the hours would be like going in, and I can certainly handle the hours - its just that I don't want to. That sounds like a very weak excuse, but after several months of pretty much giving up my life to the job, I've decided that even if I completely loved the work I'd rather do something that gives me more free time to pursue my other interests, hobbies, girls, etc. Also I'm not nearly as highly motivated by money as my colleagues.

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ehf3660's picture

Come on nebanker, stick it

ehf3660
      HF
 
 
(Senior Baboon, 218
 
Points)
 on 1/16/08 at 12:14am

Come on nebanker, stick it out. It sounds like you're 25% of the way through your 2-year stint. You have about 2% of your remaining lifespan left to grind out before you can get on with doing whatever you want - only with many more options and no question mark on your resume. Also, things usually get easier in second year.
Many people get great non-finance exit ops out of banking. People at advertising firms or corps or non-profits etc. don't know the difference between top bucket and mid bucket. But they do know when someone craps out of their 2-year analyst gig. Or when someone put in so little effort that their references are shit. And that could hinder you for years. Even if you've fucked up a lot until now and lost the respect or confidence of people you work with, it may not too late to turn it around and finish in a respectable spot. Consider finishing what you started, then leaving finance after year 2.
 

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nebanker's picture

Can anyone address the

nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/16/08 at 7:53pm

Can anyone address the original question? I don't want to try to convince a bunch of bankers/banker aspirants that not sticking with it is the right choice for me. For many people a 2-year analyst stint is a great resume builder, sets up great exit opps, et al. I've come to care less and less about these things as I've actually experienced the world of finance. So, can anyone please speak to the original question?

Thanks.

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OIS's picture

Common set of bands for

OIS
      ST
 
(Baboon, 131
 
Points)
 on 1/16/08 at 9:46pm

Common set of bands for analysts breaks down as such (In my experience)
Top-20%
Middle-70%
Bottom-10%

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thedude2's picture

I got bottom bonus

thedude2
      PE
 
(Monkey, 32
 
Points)
 on 1/16/08 at 11:56pm

Hello, I was an analyst at a prestigious bank last year and got bottom bonus.  I left after one year with offers at several top PE firms.  I am currently finishing up my second year at one of them.  Anyway, there were three analysts in my group and I got the lowest bonus and it was $60K.  Base was $60k as well.  I did get a signing bonus from the new firm, as well as a pretty sweet compensation deal.  Bottom line is I make more now than I would have if I had stayed and earned top bonus. 

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patekphilippe's picture

.

patekphilippe
     
 
(Gorilla, 590
 
Points)
 on 1/17/08 at 1:44am
thedude2:

Hello, I was an analyst at a prestigious bank last year and got bottom bonus.  I left after one year with offers at several top PE firms.  I am currently finishing up my second year at one of them.  Anyway, there were three analysts in my group and I got the lowest bonus and it was $60K.  Base was $60k as well.  I did get a signing bonus from the new firm, as well as a pretty sweet compensation deal.  Bottom line is I make more now than I would have if I had stayed and earned top bonus. 

What was your rationale for doing this, and why don't more analysts follow this path?

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charlemenge's picture

It's just about the

charlemenge
     
 
(Orangutan, 302
 
Points)
 on 1/17/08 at 4:28am

It's just about the opportunities you come across. He could be better off than the other 2 analysts now.

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thedude2's picture

quality of life

thedude2
      PE
 
(Monkey, 32
 
Points)
 on 1/17/08 at 11:20am

I was miserable in banking.  Hours were obviously tough, but it was the people who made it intolerable.  The associates and VPs in my group were horrible people - nasty, petty, rude etc.  My quality of life is infinitely better now.  I work a LOT less, but the real joy is that I love what I'm doing, and people are genuinely nice and professional in my new firm.  Lots of analysts I knew both at my old bank and from school who worked at other banks left after their first years.  Contrary to what you may think, practically all of those who left after 1 full year were top top analysts who went on to jobs anyone would be proud to have after 2 years anyway.  The ones who left after 2 weeks were the bad ones.  My bonus was low because my group sensed I had been interviewing and was leaving. 

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nebanker's picture

Wow, 60k sounds very, very

nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/17/08 at 8:29pm

Wow, 60k sounds very, very good for bottom rung bonus. Was this uniform across the firm you were at (if you know)?

I wonder what bonuses will look like this year...

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Upload Avatar

Sounds about right

justanotherbanker (not verified)
     
 
(Chimp, 0
 
Points)
 on 1/17/08 at 9:24pm

60k sounds about right for bottom bucket last year.  This year is anyone's guess.  Personally, I'd bet that the mean bonus for analysts will drop but that the top bucket dollar figure will be close to what it was last year.

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oasising's picture

How did they know you had

oasising
      IB
 
(Senior Orangutan, 402
 
Points)
 on 1/17/08 at 10:05pm

How did they know you had been interviewing?

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PowerMonkey's picture

In IBD across the street

PowerMonkey
      ER
 
 
(Senior Gorilla, 765
 
Points)
 on 1/18/08 at 12:17pm

The range at BBs for first years was $60k-$90k, a ton of people got high 70s to low 80s. Some banks had a bottom bucket of $70k (to keep a 20k range like the year before), this includes DB and GS. Total comp for the year would have been $10k signing, $60k salary, and $60-$90k bonus. So, for first years, your all in comp last year would have been $130k - $160k.

Chances are good that the top bucket will either stay the same or decline, especially since the year before it was $60-$80k.

--There are stupid questions, so think first.
Financial Modeling Training
Banking Resume

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GameTheory's picture

Not hard

GameTheory
      PE
 
 
(King Kong, 1,435
 
Points)
 on 1/18/08 at 1:32pm
oasising:

How did they know you had been interviewing?

It's not hard to figure out.  If people see your face in the office 90 hours a week and all of a sudden you leave in the middle of the morning or afternoon for 1-4 hours, it's not terribly difficult.  Or if you usually come in between 9 and 10 and get in at 11.  Or if people in your group catch you in the elevator bank or lobby with a suit jacket and a bag...

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Prince of Wall Street's picture

Agree with PowerMonkey

Prince of Wall ...
      IB
 
 
(Gorilla, 560
 
Points)
 on 1/18/08 at 4:09pm

Top at MS and GS was 90 and bottom was about 70 unless you really weren't working out.  10K signing and 60K salary for GS and MS for 2007 analyst class. This year fulltime offers to start Summer 2008 are running at 10K signing bonus & 65 Salary.
The Prince of Wall Street
http://www.princeofwallstreet.com

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nebanker's picture

Hmm..so nobody gets totally

nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/18/08 at 5:31pm
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whatlife208's picture

im pretty sure no banks are

whatlife208
     
 
(Monkey, 57
 
Points)
 on 1/18/08 at 6:00pm
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nebanker's picture

bump

nebanker
      IB
 
(Baboon, 147
 
Points)
 on 1/19/08 at 12:00pm
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dosk17's picture

Generally what people have

dosk17
      IB
 
 
(Senior Gorilla, 885
 
Points)
 on 1/19/08 at 1:06pm
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Prince of Wall Street's picture

If you really are not

Prince of Wall ...
      IB
 
 
(Gorilla, 560
 
Points)
 on 1/19/08 at 5:09pm
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seanjean31's picture

Do you know if the bonus

seanjean31
      ST
 
(Chimp, 3
 
Points)
 on 1/23/08 at 2:09am
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HerSerendipity's picture

erm

HerSerendipity
      PE
 
 
(King Kong, 1,031
 
Points)
 on 1/23/08 at 10:27am
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Devils Advocate's picture

The bonuses are banded the

Devils Advocate
      IB
 
(Senior Gorilla, 869
 
Points)
 on 1/23/08 at 10:28am

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numi's picture

why no firing?

numi
      HF
 
 
(Gorilla, 610
 
Points)
 on 1/23/08 at 11:38am
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halfdayfriday's picture

Non-performers

halfdayfriday
      IB
 
(Chimp, 4
 
Points)
 on 1/24/08 at 1:41am
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Prince of Wall Street's picture

To HerSerendipity

Prince of Wall ...
      IB
 
 
(Gorilla, 560
 
Points)
 on 2/7/08 at 5:47am
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charlemenge's picture

Anyone who's trying to

charlemenge
     
 
(Orangutan, 302
 
Points)
 on 2/9/08 at 4:21am
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fedor's picture

Do you guys really think

fedor
      IB
 
 
(Orangutan, 278
 
Points)
 on 3/4/08 at 2:52am
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CDN's picture

I'm still in college as well

CDN
      IB
 
(Baboon, 168
 
Points)
 on 3/4/08 at 3:06am
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fedor's picture

I guess you're right. I

fedor
      IB
 
 
(Orangutan, 278
 
Points)
 on 3/4/08 at 2:22pm
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luke77's picture

I would have agreed a month

luke77
      IB
 
(Senior Baboon, 246
 
Points)
 on 3/4/08 at 7:34pm
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ibanktoo's picture

I am glad someone finally brought it up

ibanktoo
      IB
 
(Senior Monkey, 73
 
Points)
 on 3/5/08 at 7:56pm
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fedor's picture

ibanktoo

fedor
      IB
 
 
(Orangutan, 278
 
Points)
 on 3/6/08 at 1:41am
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ThePhix's picture

Prob will be laughed at, but

ThePhix
      IB
 
(Chimp, 11
 
Points)
 on 3/6/08 at 3:51pm
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Buck2210's picture

Banks not handing out

Buck2210
      IB
 
(Baboon, 160
 
Points)
 on 3/6/08 at 9:35pm
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fedor's picture

Buck2210, I really hope

fedor
      IB
 
 
(Orangutan, 278
 
Points)
 on 3/6/08 at 9:46pm
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bbanalyst's picture

First Year Bonuses

bbanalyst
      IB
 
(Monkey, 40
 
Points)
 on 3/9/08 at 3:54pm
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fedor's picture

Ok, sorry for being

fedor
      IB
 
 
(Orangutan, 278
 
Points)
 on 3/9/08 at 6:25pm
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Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

Forum Topics

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  • I'll be 21 years old when I start my full time position at a BB in September, in a city I've only ever been to once where I know nobody. As I'm finishing my degree I'm getting really cold feet about this, I still feel very young. I see guys in suits on the train and can't...
    Too young?
  • Afternoon monkeys, I just wanted to take a quick moment to thank everyone on this sight who has given me good, and sometimes harsh advice. I just graduated from a very small private school with a 3.5 GPA, decent internship experiences and hardly any connections. I've had quite a few...
    Well deserved thank you to WSO!
  • does anybody have a shipping model or any idea where i can get info on how these companies are...
    shipping
  • I was wondering how computer-savvy ( leaving aside Excel/PowerPoint skills) you need to be to do well in consulting? Assuming you have an assignment where you need to help a company improve its IT Strategy, are you screwed if you dont know how to code or if you havent taken ANY CS classes in...
    Computer Skills
  • Incoming SA at a BB. Just wondering, does it typically go straight into the 80-100 hours or gradually pick up (maybe a week or so)? Obviously training aside, but once you're actually working....
    How Quick Does It Pick Up?
  • So I stared looking for an internship in late April (I know). The first interview that I got was with Wolters Kluwer for an internal controls internship. They offered me the internship at the end of the interview. I had no other offers on the table, it was mid-May, and they're paying me, so I...
    Wolters Kluwer Internship
  • Hi, I am currently a junior in college and I am interested in pursing a career in management consulting or investment banking. Which internship seems more beneficial in terms of my desired career path: 1) Operations Internship at a Fortune 500 biotech company vs. 2) Commercial banking...
    Operations Internship vs Commercial Banking Internship
  • I'm curious to as what websites / free sources are available to stay up to date on the oil and gas industry. I have a subscription to WSJ and try to read their Energy column daily, but was wondering what everyone else uses. ...
    Oil & Gas News Outlets
  • Hi everyone I was wondering the other day if I ever make it to the S&T division of a BB, how's the chance I get transferred to the US (preferably to NYC), without having a green card and stuff? Is it done through some sponsorship...
    Transferring from London to NYC
  • Hi, does anyone know what exit opps exist for secondary advisory (think blackstone's secondary advisory etc) analysts and any intel on the comp would be...
    Secondary advisory
  • I have a modeling test for a IB analyst position at a boutique bank. I don't really have any modeling experience besides what I learned in school. Is there something I should focus on to prepare for this exercise? Any advice would be appreciated....
    modeling test
  • Does a first year analyst's compensation really put them in the lower-middle class? More specifically, how comfortably can a first year IBD analyst in New York on a 70k base + 20-40k bonus live? If not as flashy as is portrayed in movies (forgive me), then why do so many people want to break...
    Another compensation question
  • Is it appropriate to wear black dress shirt for a business casual environment? If not, what colors are considered ok?...
    Black Shirts
  • <a href="http://dealbreaker.com/2013/05/wouldnt-it-be-nice-for-once-in-your-life-to-get-there-ahead-of-the-major-institutions-id-like-you-to-start-a-relationship-with-firm-and-buy-shares-or-stock/">Dealbreaker</a> wrote (off Buzzfeed) today on some stockbrokers power phrases....
    “This account will come back to you in spades”
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Upcoming Events

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    May 24 2013 - 7:30am - 10:30am
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  • Financial and Valuation Modeling Seminar (Washington DC)
    Jun 6 2013 - 9:00am - Jun 8 2013 - 5:30pm
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Highest Ranked Content

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This is the reaction any analyst who has ever worked in banking has when you say you want to leave banking for business school then come back as a post b school associate... <img src="http://epicpinterestfail.com/wp-content/uploads/2012/11/how-i-met-your-mother-barney-why.gif"...
Why You DON'T Leave Banking for B School Just to Come Right Back...
Inspired by comments from this: http://www.wallstreetoasis.com/forums/basic-guide-ramping-up-on-a-company-with-public-information-part-1-of-3 Lets just jump in. <strong>Technology:</strong> In this space there are really two metrics that matter the most, sales growth and EPS...
Beginners Guide to Valuation and Metrics By Sector
I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local...
Ask me anything… I'm a Private Equity Analyst in Shanghai
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,...
A Perfect Storm
I work as a long/short equity analyst at a large hedge fund. I've been lucky enough to be more than just a model monkey early on in my career, but have also been exposed to the stress of being measured on returns. I primarily cover consumer and TMT names. I went the typical path (target...
I'm a Hedge Fund Analyst - Ask Me Anything
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
<em>Mod note: Best of Bankerella - this was originally posted 10/1/12</em> I occasionally get PMed by people at colleges I’ve never heard of before, asking if they have a shot at IBD. Folks, why IBD? The finance world is broad and varied, and there are a million ways to...
My Biggest Career Mistake to Date: Prestige
Someone was asking me about this in PM and I wrote a long and detailed reply about what it is like to work in Big 4 and what advice I would give to people thinking about interning / working there. Thought it might be useful for others so my reply is below. Happy to answer any...
Working In Big 4 Audit in London
<em>Mode note: Blast from the past - "Best of Eddie" - this one is originally from December 2010.</em> Monty09 may have gotten the best plug yet for his <a href="http://energyrodeo.com/">Energy Rodeo</a> in Houston next month, and it came from none...
New York vs. Houston
This is just fantastic. After sitting through Carl Levin and John McCain spewing a bunch of nonsense about how Apple doesn't pay enough taxes (despite being the #3 taxpaying company in America behind ExxonMobil and Chevron), Rand Paul lit them up about what a travesty it was to blame Apple...
Rand Paul GOES OFF at Apple Hearing
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