2024 ER Bonus Megathread
Saw this in IB forum and wanted to get the research one going:
Suggested format:
Title (e.g. Associate 1/2/3)
Firm type (BB / EB / MM / boutique)
Industry/Sector
Base salary
Bonus
Bonus bucket
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Career Resources
2.5 years of experience
MM
REGAL
125K bumped to 135K starting next year
65K
Associate w/ 1.5 YOE (2023 PhD grad)
Boutique
Biotech
125k base bumped to $160k
110k bonus (top bucket from what I’m told)
Fat bonus… Leerink?
They haven’t given numbers yet
Am I getting underpaid on base in my current situation? What’s market base for PhDs 1-1.5 YOE?
2 YOE in ER, 4 YOE total
Boutique
Industrials
135k base
55k bonus
Associate 3 YOE BB (Non-US) Diversified
102k 60k
Associate 3 YoE 2 in ER
MM
Industrials
Base $145K
Bonus $25K
Associate 2 with ~2.5 YOE (PhD)
BB
Biotech
$175k base bumped to $200k
$67-70k bonus (don't know bucket).
.
Nope :)
Cant be BofA. They announce comp end of Jan
man, this thread is sleepy. no need for popcorn for those of us still a month away from comp day
every comp thread apart from IB is a dead thread here on WSO
HF popping
BB, non-sector aligned (think thematic, strategic, etc)
Associate 1
base: 150 -> 175
bonus: 60 (55 cash + 5 RSU). Unclear what bucket
BB, financials
VP 2
Base: $205 -> $215
Bonus: $95 (85k cash, 10k RSU)
how many yoe is vp in er ?
If you start in ER right out of college it's normal to do 3 at ANL and 3 at ASO, but a little shorter or longer is not unheard of especially if you lateral at some point. It could also be a couple less if you're an experienced hire (e.g. I came in as an ANL3 after 4 years doing something else, got promoted to ASO after one year and VP after 3 years, so it was 4 years total in ER).
I became a VP in 2023 - total YOE 8, with 6 in ER
Mind sharing how many stocks or market cap that you cover?
picked up 3 companies this year, $74 bil mkt cap total
The problem with ER threads is that the industry is so small, it's not that hard to get a good read on where people work (based on numbers shared among peers) and by extension, who they could be. The number of like associate 2s at a BB in any particular region isn't that high.
Sharing some total comp/bonus numbers from my bank (BB London).
An 1: £80k TC
An 2: £90-95k TC
An 3 (promotion): bonuses 40-70% of base.
Otherwise I've generally heard associates ~30%.
Being vague on purpose.
Did you have the opportunity to jump to the buy side yet ?
I get inbound from recruiters pretty often yes.
It's not that hard to get opportunities to interview.
there are 10,000 ER professionals in the world - probably 7k associates. You're not that identifiable.
There are 5 people with my rank at my bank. Similar at other banks in London. There are probably only a handful of banks that have given numbers yet.
You can make a guess.
The thing is why would anyone need to identify someone? People can speculate, but it's ultimately unproductive. The purpose of this thread is to understand this year bonus and pay across industry. This way, if one is being underpaid, at least they will have knowledge to advocate for fair pay.
Ignore my title, posting for my friend who is afraid of posting here directly:
- VP (5+ yrs of ER experience)
- BB (NYC)
- Base: $200K
- Bonus: $30K
- TC: $230K
Is he getting pushed out or what?
No, I think he just has never pushed them on comp and they just keep paying him like shit because he never complains and isn't a flight risk, which is why I told him he needs to talk to folks in forums like this to see he is being paid way below market for a VP that is actually covering stocks...
VP1
BB NYC
Base: $220
Bonus: $80
Tc: 300
New base: 225
Do you cover stocks
Mind sharing which sector?
What is typical associate 2 and 3 base salaries BB NYC? What about VP 1?
Base salary - Associate 2 - $150-$165K, Associate 3 - $165-$175K and VP1 - $200K-$215K
Thanks - What are typical associate bonus ranges?
Similar to question above but any insight on avg base/bonus progression for Associate 1/2/3 at MM's? (NYC)
BB VP 1 -> VP2 Base: 200k -> $200k Bonus: $120k (flat y/y) 90/30 cash/stock Bucket: Top
May I ask what sector you're in? ty
TMT
This thread is depressing. Best to do ER for a few years and go to the Buyside or biz school. Bonuses are not what they used to be…
The buy-side definitely offers higher compensation but comes with greater workload, especially at long/short (L/S) funds, and minimal job security. Underperformance for just two quarters can often lead to termination.
Underperformance one time can lead to termination. breach your drawdown limit? fired.
Not really sure what you're expecting tbh. There are some bad numbers in here but the normalised ones are like 30-50% base. I've never heard of ER being particularly different than that except pre -08.
I’m heading to ER at a BB in London next year, but seeing these numbers is pretty disheartening. Hoping to make the move to the buy-side after two years and not get stuck in ER forever. Any advice on making the jump efficiently?
VP3 (7 YOE) in a good sector at a BB
$225 / $100, flat Y-Y
not happy but not surprised
This is awful - sorry to hear it
Yeah. I made the same amount adjusted for inflation in 2020 as an ASO. Pretty sure I've gotten smarter and more productive, and certainly moved to a more profitable sector since 2020.
Associate 3
MM
TMT
$110K/$40K/$150K, flat again
I need a new job yesterday cuz wtf is that
Sr asso - BB
150k base + 50k bonus
175 new base
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