Mar 08, 2023

BofA Enterprise Credit

Had a few questions regarding the enterprise credit program:

Best Groups to join (including different product groups like GCIB industrials vs. TMT or GMC mortgage vs. hedge funds)?

Does the bonus amount differ by group (GCIB gets larger bonuses than business banking)?

What were bonus % paid out this past year? I have heard amounts ranging from 20k to 5k for analysts. Would like to hear a more realistic amount.

Thanks for any help and any other advice!

 
I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Just to add onto your comment from my knowledge:

TMT - SF/Dallas

Ins/Spec-Fin - Dallas

Banks/Broker Dealers/Asset Managers - NY

Industrials - Chicago

CREB/RECB - Dallas/Chicago

LevFin - Charlotte/NY (not sure about NY but believe so)

Other teams include HC, Power/Util, CR, Oil/Gas/Comm/Metals

I believe these are spread mainly across NY/Charlotte (possibly Hou)

 

I'm a current first year in the BofA Enterprise Credit program. I can't attest to which GCIB groups are better (due to my location), but have heard going into a GCIB team or a CRE team is normally the best opportunity to lateral into IB.

Both base salary and bonuses are the same no matter what line of business you're in or what city you live in. I live in the South and I think we get compensated pretty well, but I couldn't imagine having to live on this in NYC/Chicago. Plus, I work 40 hours a week, compared to some GCIB teams most likely putting in around 60 + hours a week. 

I heard bonuses were $12k for 1st years, not sure about 2nd years.

 

Poverty_Banker:

I'm a current first year in the BofA Enterprise Credit program. I can't attest to which GCIB groups are better (due to my location), but have heard going into a GCIB team or a CRE team is normally the best opportunity to lateral into IB.





Both base salary and bonuses are the same no matter what line of business you're in or what city you live in. I live in the South and I think we get compensated pretty well, but I couldn't imagine having to live on this in NYC/Chicago. Plus, I work 40 hours a week, compared to some GCIB teams most likely putting in around 60 + hours a week. 





I heard bonuses were $12k for 1st years, not sure about 2nd years.


AN2 and Associate bonuses were about in line with the $12K you quoted. It's rough here in NY. Hours vary by group, but some groups really grind.

LevFin group is technically within the Enterprise Credit function, but get an entirely different pay scale. However, they are one of the groups that put in the most hours.

 
LeroyJenkins

Poverty_Banker:

I'm a current first year in the BofA Enterprise Credit program. I can't attest to which GCIB groups are better (due to my location), but have heard going into a GCIB team or a CRE team is normally the best opportunity to lateral into IB.




 

Both base salary and bonuses are the same no matter what line of business you're in or what city you live in. I live in the South and I think we get compensated pretty well, but I couldn't imagine having to live on this in NYC/Chicago. Plus, I work 40 hours a week, compared to some GCIB teams most likely putting in around 60 + hours a week. 




 

I heard bonuses were $12k for 1st years, not sure about 2nd years.


AN2 and Associate bonuses were about in line with the $12K you quoted. It's rough here in NY. Hours vary by group, but some groups really grind.

LevFin group is technically within the Enterprise Credit function, but get an entirely different pay scale. However, they are one of the groups that put in the most hours.

I don't think the LevFin Credit group has a different pay scale. A lot of the guys in that group got moved from LevFin capital markets during a reorg last year and still get paid their IB salaries

 

Doloribus laborum non et excepturi est temporibus atque. Excepturi hic distinctio voluptatem ex corrupti. Et eaque iste eum libero consectetur aut voluptatem. Eligendi rem deleniti vitae aut nam.

Consectetur veniam sunt sed consequatur deserunt doloribus autem. Odit ducimus perferendis et eos nesciunt cumque ducimus. Ullam quam cupiditate voluptatem ut veniam explicabo.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 19 99.4%
  • Lazard Freres 06 98.9%
  • JPMorgan Chase 09 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (94) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (69) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (151) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”