ER Bonus numbers

Equity research bonuses scatter across the board. Unlike IBD where we wrote up the range it's actually a bit tighter and the bonus comp and salary is quite different across platforms.

Most banks give a high salary and a low percent bonus, senior guys can be in the $140-160 range and your bonus gets you to the $2-220 mark. So the band is in the 20-40% bonus but more total comp to salary...

Now here's the "caveats"... II ranked analysts, small firms and changes to overall sectors. If you were a boss Internet analyst this year you probably made many banking MD's look broke. These are exceptions.

High end bonus for an associate where comp structure is weighted to bonus more could be up to 80%. One of the highest ever seen from experience was "85.5%" on a very high base because he got lucky, right analyst, right space, right bank. All it clipped near 3.

So now that you have the basics from above, the band is roughly 30-50% base as bonus with same theme "work for the best and the band seems to be getting bigger".

Can't emphasize how much the analyst matters. Unlike IB where you usually have multiple bosses, causing bonuses to be roughly the same for "good" associates, if you work for a poorly ranked boss your pay will reflect it.

Now lets look at the analyst level.

The band is huge.

$200K all in to $2 million.

If you are covering a few stocks, they suck, no marketing and bad relationships, you're not making much coin. Now reverse all that and you're in business.

Now if you want to make serious scratch as an analyst your best bet is to foster strong relationships with high pull II voting buyside clients and the best management teams. Saying you have muhtar kent on the road for private meetings will be much better than fostering a relationship with Raj (and keep you out of jail apparently).

That shld be the jist.

Oh and low end associates would be $60 + 30... Scales all way up to 200 or so as mentioned above.