Incoming first year asso (fresh out of a master's, which I completed immediately after UG).
I currently have a verbal offer, with additional details to come tomorrow. I'm just wondering what bonus threshold I should be expecting, given that I'll be a first year asso at a large middle market with 0 prior full-time XP (and no internship experience in the industry I'll be covering).
Many thanks in advance.
| +224 | Return Rates For Interns Are Falling? | 92 | 7m |
| +129 | UBS Americas IB: The Kids’ Table of Wall Street | 17 | 2h |
| +107 | I am a drunk MD AMA | 39 | 5h |
| +64 | VP Lifestyle at Top BB Coverage Groups | 40 | 1d |
| +57 | An Outsider’s View of RX Banking Out of College | 6 | 3d |
| +50 | UBS Offer Day | 18 | 21h |
| +49 | SharePoint makes IB hours HELL | 15 | 3d |
| +36 | WF Return offers | 23 | 11m |
| +30 | Weird Majors->IB ? | 24 | 7h |
| +29 | No return offer - feeling like a failure is an understatement | 13 | 2h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Based on the most helpful WSO content, equity research (ER) bonuses for first-year associates typically range from 25-40% of base pay. For example, in recent years, first-year associates at BBs (bulge brackets) have seen bonuses around this range, with some specific cases showing bonuses at approximately 30%+ of base pay.
Given your situation as a first-year associate at a large middle market firm with no prior full-time experience, you can reasonably expect your bonus to fall within this range, though it may lean toward the lower end depending on firm performance and market conditions.
Sources: Equity Research: Wall Street's Best Kept Secret, Equity Research: Wall Street's Best Kept Secret, ER Compensation 2022/2023, https://www.wallstreetoasis.com/forum/equity-research/qa-er-analyst-at-top-bb-plus-about-er-general-advice?customgpt=1, ER Compensation 2022/2023
Voluptatem eum et voluptates. Deleniti possimus sint quibusdam corrupti totam sunt et amet. Quam deleniti aspernatur nisi. Deserunt expedita cumque voluptas eum. Expedita accusantium assumenda cumque voluptatem voluptatem. Repellendus neque illum voluptatem tenetur amet aperiam sequi.
Animi reiciendis cupiditate consequuntur. Quam eveniet autem aperiam voluptatum. Sit saepe molestiae id nobis. Non dolores dolor voluptatem debitis sequi. Ex itaque deserunt et eum. Alias qui deserunt suscipit consectetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...