Average ER Bonus % of Base
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.
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
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