ER comp in London boutiques
Anyone know the comp. for boutiques in London like Peel Hunt, Exane, Redburn, etc. vs BBs?
At grad-level, associate (starts to get coverage), etc
Dec 23, 2021Dec 23, 2021
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Comments (25)
Bump
Around 55k base & 5k/10k bonus for first year - these firms usually hire ACAs after three years in audit at Big 4
Any news of boutiques bumping base up?
If BBs are raising ER to 65-75k + 20-60% for grads, that's quite a gap
Base datapoints for grads:
Redburn - 52.5-85k an1
Berenberg - 50an1/60an2
There are like 3 BBs at that level (the big 3). The other 6 haven't bumped base for markets based roles afaik.
any insight for associate comp in boutiques mentioned?
London equity research comps bumped again across the board. First year fresh grads - ER Associates (non-MBA) start around 65k + 30-60% bonus. Base went up across the board at respectable botiques and MM. BB bumping up again to 70-75k base (some are still 65-70k). Biotech/healthcare and tech usually gets higher bonuses than other sector coverage groups, but for healthcare most recruiters are looking for doctorate candidates and seems like salary jumps alot 1-2 yr into the job if you have that pedigree. Job market is continuously hot.
Berenberg pays 1st years 50k and 2nd years 60k, bonus = peanuts
They planning on raising the 1st year salary any time soon? What are the bonuses typically like?
Probably not as you will see most these firms don't really match BB's in terms of pay. BB ER only pay that because they've raised pay across the board for FO. IBD pays more than quite a few PE shops so no way are boutique ER shops looking to compete with that.
if they don't raise, Berenberg all-in is nearly at a ~50% discount vs market rate of 70k + 40% for grads
only people staying are either silly or ignorant of the new market numbers...
Oh wow, do you know what base pay is for a first year at Berenberg in ER? Looking to apply for full time this season and want to make sure it's worth it
50k is a number from 2018 when inflation wasn't 10%. 70k is 2018's 40-45k in my view. I am surprised that there are banks still paying that range.
100% agree...
Spoke to a recruiter... London JP Morgan ER Associate (11 months into their role) clearing 100K GBP base. Is that true? I heard BB's bumped up to 75k-80k base, but never seen 100k base. I don't think recruiter is BSing around. Seems like top shops giving another bump from 75-80k?
I assume the recruiter was talking about associate in banking terms (i.e. an->asso). Base for a first year at JPM is 75k I believe.
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