WallStreetOasis.com - ...where monkeys come to play

2009 First Year Analyst Bonuses

monkeygames123 — Tue, 30 Jun 2009 16:37:26 -0400

I heard from a friend that first year bonuses at Citi were $50k, $38k, $25k and $11k. I am surprised no one else has posted this but can anyone confirm? Have any other banks reported?

Gov't Intervention Screws the Little Guy

Edmundo Braverman — Mon, 29 Jun 2009 13:31:24 -0400

Somebody's gotta pay. Sure ain't gonna be the banks.

Favorite Quotations

cokeclassic — Sat, 27 Jun 2009 02:16:00 -0400

Share some of your favorite quotes and sayings.

"A wise man told me don't argue with fools cause people, from a distance, can't tell who is who."—Hova

"Beware of geeks bearing formulas."—Warren Buffet

"A man is a success if he gets up in the morning and goes to bed at night and in between he does what he wants to do."—Bob Dylan

Bernanke Calls Paulson a Liar

Edmundo Braverman — Thu, 25 Jun 2009 11:18:20 -0400

In what is becoming a major case of he said, she said, Fed Chairman Ben Bernanke today denied reports that he bullied Bank of America CEO Ken Lewis into the ill-advised purchase of Merrill Lynch:

http://news.yahoo.com/s/ap/us_bernanke

This is interesting in that former Treasury Secretary Hank Paulson admitted under subpoena in December that he was pressured by Bernanke to deliver the threat to Lewis. This is what Bernanke had to say about that:

Citigroup Raising Salaries Up To 50%

Edmundo Braverman — Wed, 24 Jun 2009 03:10:08 -0400

In a signal that they won't be repaying TARP funds any time soon, Citigroup is raising salaries (primarily in investment banking and trading) by up to 50% in an effort to retain talent:

http://www.bloomberg.com/apps/news?pid=20601087&sid=akHCO4dj2KJc

Quote:

“Citi continues to examine ways to ensure its employee compensation practices are competitive in this very challenging market environment,” Citigroup spokesman Stephen Cohen said yesterday, declining to comment further. “Any salary adjustments are not intended to increase total annual compensation, rather to adjust the balance between fixed and variable compensation.”

Other banks have made similar moves recently. Are the days of slave wages offset by massive bonuses over for good?

Sales Traders needed in NYC immediately

Rycap — Tue, 23 Jun 2009 16:03:24 -0400

My client "a well known mid level shop" is currently looking to add at least 4 Sales Traders with a minimum of 3 years experience.

Traders from similar mid level shops (Jefferies, Oppenheimer, Piper etc.) are the best fit.

This is an immediate need & I will fill this quick.

For consideration please submit your resume.

Qualitative / Macro S&T Desks

oasising — Mon, 22 Jun 2009 19:51:01 -0400

What desks within S&T tend to be more qualitative and macro-focused at the same time? Currencies/FX? Credit?

I believe that I have a good understanding of how the markets move in accordance with different trends and government actions, etc. but high-level quant analysis or programming has never really interested me. I'm more about the cause & effect relationships and the intuitive side of how markets function..

Goldman Kicking A$$

Edmundo Braverman — Mon, 22 Jun 2009 04:01:07 -0400

Here's a bit of really good news: GS is on track to log their best year ever, and is readying massive bonus payments for their staff.

http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payme...

With Obama's approval rating drifting lower, this might be the time for the banks to strike back at draconian executive compensation curbs. At the very least, it should dissuade the administration from going forward with their plans to control compensation at non-TARP banks as well as those banks on the government dole.

Perhaps this is the beginning of the end of the government's sad foray into private industry.