20 Comments
 

If you just joined and this is your first year, will depend obviously of your team and dynamic with your boss but it could range from 5k-20k probably. Nothing comparable to IB. 

 

Got it! Any particular sectors where bonuses are usually higher? Working for a top ranked analyst should imply a higher bonus? 

 

Some banks have offered flat bonuses to 1st years regardless of performance or sector. 15-25k from what I've heard.

Worth noting that two of the banks you've mentioned have raised base for ER, so idk how this will affect bonuses.

 
Most Helpful

Browse through this forum and you should find a lot of explanation. But here's the short version

  1. London comp was set kind of equal to NYC when GBP was much stronger against USD. Now GBP has weakened during the last few years
  1. Even then the comp is not that much lower compared to other industries. Like the delta between banking salaries between London and NYC is much lower than the delta for consulting or the likes. In the end, it kind of trickles down to the PPP difference between both cities to an extent
  1. As an extension of the above point - Lack of other high paying opportunities, especially in tech. The firms know they pay the highest and that too by a margin and doesn't feel the need to adjust it for thr FX difference that has happened

That said, there are still a lot of US based MFs who pay your salary in USD and that equals NYC pay.

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