Province AN1 TC 250k??
I've seen a lot of mixed posts about Province's AN1 total compensation. Around 70% of people mention ~$250K TC, about 20% say it's closer to ~$130K, and a small minority (10%) claim it's below street. This has been pretty confusing—does anyone have clarity on their actual Analyst-level comp?
No way analyst 1s make 250. Take a look at an analysts bill rate on one of their fee apps. $130k is believable for sure.
(let me know if issues) I will try extrapolating comp by looking at A&M analyst bill rate on debtor side Celcius case ($475-$425) because they are known to genuinely comp 250 for An1's due to % of billable hour structure which as a Director I am sure you agree with. I see Province analyst bill rate on UCC for Kidde-Fenwal case ($425-$400) which is naturally lower due to being UCC, as a boutique it would be hard for me to believe they dont have a better % split of billable hours than A&M or at least are competitive with it. For base 110k seems in line with what I have heard, would 220-250 then not be in line or within reason?
Well shit, I stand corrected.
Province used to do bonuses like A&M where analysts would get a % of billable revenue. If any analysts have cleared or are clearing 250, it would have been under the legacy model. All new hires now get "discretionary" bonuses ("up to 50% of base") (and they have been converting employees with legacy bonus models over to discretionary internally at year end contract renewals). The comp for analysts now is below street, around 125 all in. Source: I worked there for several years.
Associate base at province is currently 120-140 so I highly doubt analysts are cracking 200
First off, Province is incredibly opaque with comp...go ahead and try to find it posted online, you'll have a hard time. Second off, there's only 80 or so people, and their backgrounds are very variable, not like you'd see in T1 RX co.
To the point of your question, one of my college alumni went through the process, and reportedly An1 was around 240 - 250k a year ago. There were some An1s who made like 265k, but that was rarer. Sounds absurd, but I trust the person who told me that.
wow that is amazing
I heard they pay 30/hr for interns. Do you think this 250K for An1 makes sense though?
Agreed, and for the people who are looking through this post, no, they don't have internships or junior roles...yet. That could change obviously.
Currently the base for associates at province is 120-140 make of that what you will regarding TC
It would not surprise me if a place this secretive about comp etc. pays An1 variable packages. I mean for one there is no undergrad to full time hiring scheme in place from what I can see and offices seem to work on different stuff, I see a partner charging 1680 an hour in one office and another partner charging way less at a different office, I am sure there is nuances but I think like every financial services firm New York makes the big bucks. Maybe the low An1 comp reports are from vegas which has a lot of people and the high reports are from elsewhere - ancedotally these guys are very well known in the mass torts space right now and are definitely making dough.
Not sure if you'd know the answer to this, but for someone currently interning a RX co role (T2 ish), and wanted to make the jump to RX IB FT, what would be the best way to accomplish this? Blast out cold emails, or convert the RX co internship to FT, and then apply normally to IB after around a year or so, or some other way?
I believe I could add some color here. My path wasn't the exact same but BB IB-->MBB-->T1 RX CO. Over my time here, we've had a few guys jump to IB. Typically, these were either interns that didn't take the return offer and recruited for FT RX IB or younger analysts who did two years here then made the move. I would, first, want to know where your SA gig is. Does T2(ish) mean that you are at a newer, more specialized player that pays well but just doesn't have the platform of BRG, Province, Ankura (M3, PPP, MERU) or are you just simply not sure if your firm would be considered T2 or T3 (CR3, Teneo, Riveron, Huron, Big4). Not like it would matter a great deal, but I think my advice for you would vary depending on where you're at exactly.
not secretive, associate base is 120-140 which is below street. these high comp numbers must be heavily weighted towards bonuses after a knockout year
I have a cousin who worked there for a year as an An1. He made just under 230k tc. Of course they worked him into the ground and he quit after bonus hit. Sweatshop but they don’t stub on the pay.
was that NY office?
Associate base is 120-140 so your cousin must've just had an absurd bonus
This is an oddly specific question, but funny enough, I have the answer. I interviewed with the firm (6 fucking rounds of hell) for FT after my graduation in September of 2023. I ended up getting the offer. It was 125k base and 100% bonus—give or take, depending on hours, but analysts told me it's almost always more. Due to health issues, I turned down the offer to take a more laid-back role in my home city.
wow that is a lot. was it 70-80 hrs/ week? 100% bonus seems a lot. So 250k is actually true
From what the analysts told me, they work more like 90-110 hours a week. It is literally a sweatshop, hence why I didn't take the offer. And yes, you can say the 250k is true. I don't know why people are in this thread trying to disprove it when they have no firsthand accounts of the compensation, but hey, it is WSO.
What office was this?
NYC—same package for CT office, but apparently better hours.
What was the process like? Heard there's an LBO case study but also wondering if they ask more RX ib type questions or consulting.
Same here, was told associates are 120-140 base now and that the insane comp numbers are going away now that the firm is growing
Analysts are around ~$90k salary/$120k TC while associates are $130k/$180k. Could see some associates go higher as I’ve read bonuses for top performers can go up if they grind since it’s in part based on billable hours. Have heard they work a lot from some employees
Source: saw the average numbers from the presentation materials when they got acquired last year
Not doubting just curious,how did you see the presentation materials in CIB?
Haven’t updated title but I moved out of banking into buyside won’t divulge more details to not out myself but I’ve seen the numbers. RX consulting posts have been popping up like crazy lately and someone keeps spreading the same “$250k TC” comp figure for Province which I’m not doubting there’s an outlier and if that person averaged 80-100 hours could totally see it happen. But that’s not what most of their analysts/associates are getting paid. Plus, they bill like 20% less per hour than A&M, FTI, and Alix Partners and pay much less than those guys too. Would also add that their associate roles are generally not entry level and have a wide range of years of experience, anywhere from 2-7 if you look on LinkedIn
Very interesting, I'm connected to one of the analysts there (not sr. analyst), and their response was that it varies from 95 - 126k as far as base.
It's wild how variable responses are on here when it comes to comp in RX consulting. There's 100% of time multiple people saying different things, almost no consensus except for the Big 3. In IB there's at least a general consensus of what to expect.
Associates are 120-140 base there and I believe I was quoted 50% bonus target so it seems their crazy comp days may be winding down as they start to open new offices and grow the firm
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