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April 30, 2024
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Blair. All cash and no clawback. Also Jefferies at junior levles
Jefferies clawbacks are significantly worse than stock comp vesting provisions
Baird
Would assume all the private banks are all cash
Public banks will have stock (esp as you get more senior)
Roths at the junior level
Don’t think Roths give out stock at senior level either esp in the US given the family is also now taking the bank private
Thanks guys. What about at the VP level? Any BB or EBs that pay all cash?
No public company is going to do all cash at mid / senior levels - vesting helps them smooth out the closely watched comp ratio and makes it harder to leave. So that's all BBs and just about every EB.
Obviously Centerview is the big outlier there.. no intel on what they do but doubt they're handing out meaningful equity to VPs, so likely mostly or all cash
JEF. Clawback starting at associate level but only enforced if you lateral to another bank
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