London BB AM starting comp
Hey, does anyone have any insights into the compensation for first-year BB AM in London?
I will be interning in an Equity fund within the bank and my internship reference salary is significantly below the IB reference salary
Expect around £80-90k all-in.
so considering the lower bonuses in AM (more like 10-50%, correct me if I'm wrong) base should be 60-70k?
I don't think base is materially lower? I know 2 American AM firms on £65k for grads, and I believe UBS is £60k.
Some banks just pay less for internships than they do at analyst level now.
I see, was just confused because at the same bank the IB internship reference salary matches AN1 - but glad to hear that that might not be the case for AM
Well, maybe.
Some banks (esp euro BBs) also pay their bankers more than other divisions so YMMV.
Bump
Out of topic but do BBs have AM grad schemes? If not, as a final year student would you still be able to apply for AM SA positions?
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