WM First Year Salary
What are people's WM first year Base + Bonus salary figures at BB's? WM referring to both PWM or PB at a BB.
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I'm wondering myself. Does anyone know?
Incoming first year at JPM PB
Base: $85k
Sign on: $10k
Bonus: Not sure (10-15k?)
Wrapping up as a 1st year at BB PB.
Spot on. 1st year bonus was stub $5k..
Sheesh lmao is this JPM? Sounds ridiculously low
Any idea for year end bonus? Also, how are your hours? From the summer internship it didn't seem intense for the comp (50-60 hours). But I have heard the hours can be longer but what makes it long tho? Not like you are working on complex models or pitches. Seemed mostly portfolio management/process oriented work. Thanks!
Because alot of the junior work is administrative and although it doesn't take anything near a rocket-scientist to do it, it's still alot to learn & therefore juniors work longer hours until they get the hang of things.
Let me clarify - "stub" basically means you were not at the firm long enough to warrant a bonus based on performance (start on the desk in September, YE reviews in November, bonuses paid out based on that conversation in February). The YE bonus for a second and third year analyst are much higher, (think 20-30k) along with a $5k salary increase each year.
As for workload/hours- it all depends on your placement. Between the 5 bankers I support, the total book size is north of $1Bn and this represents around 350 clients. I support 3 HNW ($5-25MM) and 2 UHNW ($25MM+). The day is spent thwarting inbound maintenance requests from clients, and the evenings are spent doing the actual client work (investment proposals, performance reviews, etc.).
The bankers do not work past 5, so you can really focus in the evenings. I get on the desk around 7:30 every morning, step away around 6PM for dinner/workout, and stay on until around 10PM mon-thurs. Never really work past 7 on Fridays, with the occasional weekend fire drill mixed in. Definitely none of it is rocket science, but there is a ton to learn as you are a generalist - need to know equities, fixed income, lending (custom, mortgages, SBL, etc), trusts, estates, and banking.
Going to intern at MSWM next summer and 1st year analyst base is $110k
How much would the associate and VP comp be?
mama mia this is a lotta dough for a 60-70 hour workweek
100 base + 10 signing + unknown performance bonus
Performance bonus have previously ranged from a minimum of $5k to a max of $50k, but have been told that bonuses going forward will be really good. We'll find out in January.
Good to hear
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