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Lmao No
Have read in some forums that Mck has raised business analyst 2 base to 130. Sooo ...it s possible that BA 1 could go to 110
MBBs don't compete with IBs on comp - bonus alone make MBB pay lower. Most likely not.
What is the first year total comp for a business analyst in London and will the recent US salary hikes be reflected in London too? Seems London pays significantly lower than the US and the rest of Europe.
I'm at MBB. In general I think we will continue to increase comp YoY to remain a competitive option for new grads. However, we don't benchmark vs IB one to one. We think about competing for talent against IB, tech, startups, etc. and know that IB will have us beat on comp, but that comes at a WLB cost. Similarly WLB here is worse than in big tech so we know we have to offer better comp / comp that scales better than tech.
TLDR: Salaries will continue to rise, but they won't match IB.
completely agree
the first response to "will MBB raise because banking raised" is always "well MBB has never matched banking anyway, so why would they now?" this is kind of misses the point - obviously, MBB would never pay analysts as much as banks do, but they also can't let the pay differential get so high as to tilt the scales in favor of banking. i dont have the complete historical data here, but id bet a lot of money that MBB and banking raises have happened in tandem in the last decade. just look at last summer - MBB raised to 100 base from 90 after it became clear banking would settle around 100 for base. just like in banking, it wasn't so long ago that they raised to 90 from 80-85
now that banks are settling around 110 as the new norm, MBB is probably seriously thinking about matching
tech as a competitor for talent is a whole different story, and im not entirely convinced that MBB/finance's talent pools overlap all that much. the jobs are wildly different: one looks for specialized technical education and the other looks for smart generalists who are good at talking to people. theyre also fundamentally different career paths: SWEs become CTOs (or maybe high level ICs like those at Google/Meta), while MBB/Finance become CEO/CFO/COOs
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