AM Compensation London
Comparison sucks.
Comparison sucks.
Comparison sucks.
Comparison sucks.
Comparison sucks.
Comparison sucks.
Comparison sucks.
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Sounds in line. Salary at the independent AM shops are less than BB. Has always been this way at the beginning. Not to be rude but either put up or shut up. What I mean by that is you bide your time and once you make it to PM, or Senior An, your comp will outstrip and you won’t be thinking about that anymore. Congrats on the offers, bud.
Can you give comp data for S. Analyst level (assuming 6+ YOE) and above? I'm on the FI side but wanted to understand what comp ranges were for the larger AMs (noting that there is a variability in ranges).
Deleted yeet
LOL AMD is NOT paying 50 - 100% bonus at BBs bro. That's IBD territory.
What's the range for BB AMD bonus? I was making assumptions there so I didn't actually base that on what anyone said.
At GSAM private you would be banking 100% bonus which is not exactly fair as prior to the rebranding it was Merchant Banking / Special Situations Group.
But yes for the “normal AM” divisions of a bank then no chance you are banking 100% bonus coming out of uni.
I'm even doubtful about that at GSAM for AN 1 tbh. AM bonuses have historically been much lower than IB bonuses. I'd expect 20-50% tbh.
GS Public AMD pays 70k + 60% fixed for first years...
Is this 100% true? incoming first year analyst for GSAM public here and the comp is much lower...
That's pretty normal for first job in AM. Should expect a bonus of 20-50% first couple years but decent raises.
Don't think any entry level AM jobs pay 70k base & 100% bonus. That's definitely IB money and 2x the amount of hours.
I started on 38k base 1st year with 50% bonus, 50k base 2nd year with 50% bonus and now I’m in my 3rd year which is 65k base and a bonus between 50-100%. Was hoping for a bigger bonus 2nd year but it is what it is.
Booyah!
£75k base after two years would be very decent. I was under the impression that the BB AMs pay similar to Blackrock etc and £70k base would be maybe for ER.
My hours are good, between 50-60 hours with minimal weekend work, in my time so far I’ve worked one weekend due to a potential investment offering a placing on the Monday which we found out about on Friday. Took a half day Friday that week and worked about 40 hours to make up for it. With studying for the CFA though I suppose you can say I’m working/studying for 80-90hrs per week.
I’m surprised at everyone saying that OP’s being paid correctly…at least in the US, entry level salaries at top AM shops are six figs (so I guess 76k+ pounds, at least). There’s certainly a differential with IB, but not a 3x one.
Maybe AM salaries in London are much lower, I’m not sure.
It's fair for the likes of M&G, L&G. Blackrock acutally pays low 40s if not mistaken (this was back in 2017), so par for the course.
But pay growth is exponential, and (ofcs dependent on preference) work can be more stimulating - process-y work in banking can be a chore after a few years....
Yeah London entry-level AM comp is crap compared to the US. OP's comp package sounds typical from what I have seen from friends securing similar roles. At least the comp progression is exponential and WLB relatively sustainable compared to IB.
Yeeeeeeet
While we get some attention on this thread, does anyone know what the typical progression in base pay is from Analyst (3-5 YOE) to S.Analyst (7+ YOE) level? I heard that 10yr YOE, in a good year you should get c.300k GBP (150 base + 150 bonus)? Does that seem right at large AMs?
The c.300k figuru seems valid via glassdoor, but unsure what the YOE was.
Depends a huge amount on whether you are in a role with a P&L or not (i.e. are you getting names into an 'analyst fund'), what the economics of the fund(s) you are working on look like (if you are in a role that works for a specific PM rather than a centralised research function) and a lot of other factors.
Would say that's a bit low for 10 YOE if you and the fund are doing well.
way too low for my fund
These numbers seem shocking to me relative the US. Granted I worked at a bank's AM group right out of college 4 years ago but my base comp was in line with IB starting salary, just lower bonuses. Also the market is relatively hot in the US so I've seen average comp increase somewhat materially.
The thing is… AM divisions at BBs (JPMAM, GSAM, MSIM) tend to pay higher than pure play AM shops (BLK, M&G, LGIM, Schroders etc) at least in the Analyst and Associate years. I even think for all the BBs mentioned, base pay is aligned to IB or not far off. The difference (as you mentioned) would be in the bonus
Will add a few points from personal experience. CS ER Associate £90k + £38k signing. JP MultiAsset PM £125k. GS WM VP £100k
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