Hey guys,
It may be too early to say how the 2011 bonus payout across investment banks is going to be. I still wanted to see what you think would be the 2011 bonus level for IBD analysts.
Between 40K and 70K for first year analysts? What do you think?
Thanks guys.
| +68 | Wealthy Parents / Jaded | 22 | 10h |
| +45 | Venezuela Debt Restructuring - LAZ vs CVP | 18 | 6h |
| +44 | How are hours rn for SA (interns) | 26 | 24m |
| +40 | Background check issue IB Full Time | 23 | 11h |
| +30 | Boutique firm wants access to my LinkedIn? | 13 | 2h |
| +27 | Investment Banking in Mexico | 7 | 1d |
| +26 | HL vs WB | 19 | 2d |
| +24 | MM bottom bucket bonus | 9 | 2d |
| +24 | UBS GIG, LevFin, FSG Interns working Sundays and 85 hour weeks their first week? | 12 | 7h |
| +21 | Excel macros for QOL formatting | 0 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Isn't that basically the 25th-75th percentile payout anyways (i.e. most years fall between 40K and 70K)? That's not really any kind of prediction. And in any case, it's waaaaay too early to speculate on bonuses to be paid in 17 months...seriously.
Better question: why do you want to know??
If you can predict this, please predict 2010-2011 DJIA.
We don't even have a f-ing clue about the 2010 numbers...so wtf...
LOL @ SarahP
Using his modeling techniques, he would likely predict 8000-12000.
how about we comment on 2010? last year top tier for 1st year was c. 50k. Pls comment on 2nd/3rd year too
90k for me. But probably 60k for you losers.
If top class of 2008 Associates are around 175-200 this February, then top analysts could reasonably expect 75, 100, 125 for 1st, 2nd and 3rd years respectively.
The obvious caveat is that 1H 2010 is as good or better than the current trend we're experiencing.
As for 2011?? Who knows. My personal guess is that 2011 is going to be a big letdown year. We can't continue on this cocaine-addicted economy forever. Higher rates we probably dampen capital markets activity and may make many M&A deals tough to finance. But, again, that's just my opinion.
Your opinion is idiotic. 2010-2011 M&A and IPO activity will be huge.
feels too aggressive. i would say
40-60k for 1st years 50-70k 2nd years 60-80k for 3 years.
edit: this is in conjunction with the base-raises to 70/80/90k, respectively.
Tiger, thanks for your opinion. Please show me where I said 2010 M&A and IPO activity would be slow or sub-par?
I specifically mentioned 2011 as the letdown year. Do you honestly think that capital markets activity will continue to boom like this once the government has stopped buying securities and started to raising rates? My point is that the extremely attractive financing markets of 2009 and 2010 will end up stealing future business from 2011.
Right now everyone and their mother can access HY markets to refi in the high single digit and low double digit coupons. We are at pre-crash coupon levels (albeit not all-in leverage levels). This will not continue once rates start to creep up. And when that happens people will no longer "opportunistically" access debt markets and the fee wallet will shrink quickly.
IPO markets are clearly the wild card. Alot of PE funds may need the exit even if the valuation isn't a homerun.
I don't think 2011 is going to drop off a cliff the way things did in 3Q 2007, but it will also be nothing like 2009 and 2010.
any updates?
im a 2nd year and would be really happy with 80k
bump approaching that time of the year... what are your bets?
so UBS gets no bonus ?
I read the bonuses were barbell shaped, MD's and analysts got paid and everyone else in the middle got screwed over. Apparently they didn't want MD's to leave and grad recruiting is apparently a pricey endeavor.
I think based on the trailing twelve months and year-over-year that M&I shows, it is fair to reach the same conclusions that they did. 0-10% increase seams reasonable, but 0% increase seems realistic. I can't imagine it going down as M&A and IPO activity are obviously both going to be up, and the numbers are up from last year.
Bump. Surprised theres been so little chatter on this at the end of May.
bump. i've heard numbers being flat this year - given that some banks are under regulatory scrutiny and deal flow hasnt been crazy this yr. would love to hear more thoughts.
Flat is the new up. I will take flat YoY, as bonuses have been flat to down since 2008.
Any news? No performance reviews or any discussions at my bank yet
I suspect analysts starting this summer will have a strong bonus season next year given the huge pickup in activity. I think this year we're staying flat to maybe a +10%.
I think first year bonuses come out in 2-3 weeks.
i personally know a MM shop is paying in 3 weeks. Is this for other banks as well though?
At my bank performance reviews are supposed to be given sometime in June (probably next 2-3 weeks) but, as far as I understand, bonuses are NOT discussed. Last year bonuses were paid mid-August. Not sure when they were announced.
Didnt top places range from 70-100 for first years? I dont see how a flat bonus could be bad, at least at those places.
No. Top bucket most places was $65k. There are a few places that pay above street but that was the norm
70-100k lol...i wish.
$65k was the top bucket at several of the better banks and not the norm across banks on street. If you want more money, go to good boutiques and you will get compensated better than your BB peers.
I did say the higher end banks. Lots of my friends are going to places that payed 70+ for top bucket or for everyone in the case of the boutiques Either way, I dont see how a $65k bonus for a first fucking year out of college is anything to laugh at.
GHL is prolly gonna be 80k for top bucket 1st yr
any news? banks will announce bonuses in the next two-four weeks... let's see who's first
you have to realize that at most BB's, few people end up getting top bucket... expect 50-60 for 2nd/3rd bucket
Well here is the first data point I have seen for June: $95k for 3rd yr bonus (up about 10% from last year 3rd years) for a stronger mid market bank outside NY. Given how payouts have been there vs other friends at BB I would expect (if history is any indication) that top buckets @ BB would be in the 80, 90, 105 range for 1st through 3rd years, but just a swag guess.
very interesting. thanks for sharing.
I remember last year Citi and JPM gave out the highest bonus of 65k to first years yes?
Completely false. BB pay less than top boutiques. For example, EVR had range of ~69k (low tier) to ~79k (top tier)
Bump. Which banks have already announced bonuses?
What is the update on this? In past years, the first round of banks would announce mid-Jul with the rest announcing first week of Aug. Which banks have announced? Haven't seen the spreadsheet circulating anywhere yet.
I am hearing something like:
$60-70k for top-tier 2nds $80-90k for top-tier 3rds
Typical MM shop
If you went to Harvard, probably in the 100k to 150k range, if you didnt, 1. what the fuck are you doing at an investment bank 2. try to get a new job before you are fired.
$100-150k because your unearned wealth needs to be subsidized since your most successful alumni are dropouts (so take a cue, cause you sound more like a summer analyst). I'd suggest a few less forum posts until you move out of your 7x7 cube or at least close a deal (doesn't even have to be your own).
any banks that announced yet?
Unionbusters is pissed because he went to Harvard and didn't get an IB offer. Congrats at being a nontarget in life, Union.
MCA, appears you're at MQG. Have you guys actually announced yet?
No announcements yet?
The lack of numbers posted on here leads me to conclude either
1) All the banks are pushing back announcement to end of Jul, hitting accounts in mid-Aug or 2) Numbers that have been announced so far were bad (highly possible given GS and MS stub earlier this year) and people don't want to talk about it
We got pushed back because nobody else had announced, and nobody wants to be the first.
Lebron, what kind of bank are you at?
Boutique
Numbers are out. BAML 50 / 70 / 90
Can you give a little more detail. Is that buckets for first years? Or across years?
Not certain of your source, but BAML doesn't release until the 28th
MM Bank
$60 / $80 / $100
Top-tier across the three years
I want to know how much Qatalyst bonus was..
are they "killing it"?
UBS 50 / 65 / 80
FTPiper, are you at UBS? And what was the spread for each year? $15?
Yes, that is what the spread is. Top bucket through bottom bucket. Usually $15.
Number's for a top middle market bank:
Top bucket 1st years: 65k Top bucket 2nd years: 80k
Sounds like everyone's about flat Y-o-Y.
New normal.
.
Mod Edit: Poster is a tool and thus his post was edited
DAM and Isn't starting salary for them 80+ 10K signing bonus?
yep. i heard it's 80k base
oh shit that's ridiculous
Communication Dates (confirmed):
UBS - 7/28 BAML - 7/28 BarCap - 7/27
citi is end of july as well
Does anyone know the exact date for Citi?
Where did you get those dates?
Blowjobs. Lots and lots of blowjobs.
Confirmed from highly reliable sources.
Those dates are correct. FT Piper is blowing smoke
BS on Qatalyst.
What about JPM communication date?
...
Bonus for bulges is looking pretty pathetic. Middle market is looking more attractive than ever.
Any data to back it up?
JPM gets numbers end of July, hits account mid-Aug.
What numbers have you heard for BB's?
Qatalyst representin'
I guess that first bonuses will hit accounts this coming 31th?
August 15
payouts will be on schedule with pay cycles. some biweekly some twice a month (15th)
Barclays #'s out. 70/85/100
Is that top bucket for 1st/2nd/3rd year?
FTPiper is troll.
Mod Edit: Poster is a tool and thus his post what edited.
FTPiper that is not accurate and neither were your Qatalyst numbers, please stop posting bs on here.
BCS, CS, DB, RBC, UBS. Guys, just make a new account and post. Thanks.
jp0975 your numbers are wrong.
confirmed with first year at Bar, those numbers are right
I heard 70 / 1Y and 100 / 3Y at BarCap as well and DealBreaker also reported 100 for 3Y. Not sure about 2Y. Patrick what did you hear? Can someone from BAML, UBS, CS, DB post please? Just create another account if you're worried about identity.
Looks like 2011 Street (two different BBs) is 65 top first year, confirmed from several people I went to school with at each bank. The problem with WSO is high school kids repeating what they heard from each other.
Have any boutiques announced yet?
What did you hear for 2Y and 3Y?
I work at CS (1st year) and got 58k. A couple other analysts here (in other divisions, even) also got 58k. Have no idea what bucket that is, though, but it's not bottom.
You obviously got middle bucket.
Way to put yourself on blast.
BTW were GS and MS 1st year Jan stubs the same this year?
CS top 1/2/3 yr was 66/80/105
Let's get an update here. I know at least one BB is announcing today.
Different approach: I have personally confirmed numbers for BCS, UBS, CS, JPM and GS / MS (stub). I will trade for boutique numbers.
why not just post them?
average across street: 60 top, with 15 top-bottom spread if you still are asking for more info, you should probably start looking for a job right about now
Average across the street top is 65-70k.
3 BBs reported 70k.
LTV your top number is off
For BB first years:
BAML: $60k Barclays: $70k CS: $65k DB: $65k JPM: $70k UBS: $65k Wells: $70k RBC: $65k
.
Anyone have info on the european banks? Wondering how the situation over there will affect them.
The last time I checked, BCS, CS, DB, and UBS were all still European.
Some boutiques should be announcing this week as payout is next week.
Qatalyst First Years: $90-$100k
No, it's not a joke
$180,000 at 23 is pretty ridiculous.
BB firm (approx ranges)
3rd yr 210-250k (all in) 2nd yr 170-210k (all in)
Bonus as % of base is not comparable because of housing etc
randomguy, there is no BB that pays those numbers in the U.S.
My numbers are based on Asia (HK/Sing/India). Does that seem too high for US?
Let's get some more boutique numbers on here.
ds
When do GHL and EVR announce?
And also LAZ, Moelis, PWP, BX.
My friend who just graduated from College (not me) at one of the top 5 PE has been offered $180,000 base. The person could get somewhere aroun $300,000 including bonus.
Another friend who just graduated from college and starts at a very famous Quant fund with $175,000 base.
Damn that's high dude. Ivy grad I suppose ?
I haven't really heard of them hiring out of undergrad directly unless it's in advisory (not PE). Also, I know someone with 3 years banking experience and they didn't get hired on at $180 base at KKR so I'm calling BS. $300k all in is high for directly out of undergrad, but not completely absurd for 2-4 years experience.
Also junior guys at quant funds can often carry unusually high bases (although that would be the largest I've ever heard of out of school), but that's usually because they don't get hardly any performance bonuses and their base just stays mostly flat year after year as they earn into heavy performance bonuses.
I don't have the end all, be all of data points but have been around long enough with some pretty close friends that would leave me to believe there is something not quite right about your data. Maybe I'm just sheltered and naive down here in Texas.
The PE number is definitely BS.
We get our numbers early next week. Elite boutique.
So all numbers are out. Top 1st year was 65-70. Top 2nd 80-85. And top 3rd was 100. Everyone agree?
I can confirm that a second year S&T analyst got a 110K bonus.
PWP still hasn't paid its analysts yet. Anyone hear what's going on?
Nulla voluptas vel harum et soluta officiis aut. Vel quidem ut delectus. Quos magni cum et a distinctio.
Et ut qui numquam qui. Neque ducimus eius commodi ut reiciendis. Vitae tempora rerum numquam eaque facilis rem. Aperiam tempora enim quia quia consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Provident non expedita sit vitae. Delectus facere iste dolor doloremque velit.
Deleniti eum unde eum dolores voluptate expedita nostrum. Eum omnis eum beatae a id dolor et. Qui quos tenetur omnis exercitationem laboriosam. Delectus sed neque esse. Qui totam quis minus ut eius cumque praesentium eveniet.
Dolores et et aut consectetur repellat. Nesciunt praesentium non sunt omnis adipisci. Nostrum consequatur non hic aliquid cumque harum quas aut.
A vel ut omnis. Iusto consequatur voluptatem minus consequuntur.
Mollitia non asperiores saepe ducimus et nesciunt. Incidunt ut eum ullam. Nostrum rem veritatis vero hic et. Consectetur ratione perferendis veniam. Natus deleniti voluptatibus doloremque quia voluptas a sint. Ratione sint est fugiat neque enim quaerat.
Sapiente officiis vel sed cum ipsam. Voluptatibus aut nihil dolorum. Velit dolore quod nobis maiores tempora architecto quae.
Aut libero beatae et vel. In ut iusto labore autem ab laboriosam. Maiores debitis sit atque nostrum enim. Explicabo molestiae accusantium hic temporibus. Accusamus laborum impedit placeat.
Dolorum reprehenderit tempore consequatur ea quae. Autem ut sint suscipit quia consequatur. Explicabo et delectus veritatis adipisci. Illo fugit porro magnam aliquid. Reiciendis occaecati molestiae qui maxime fuga in. Quia ullam qui corrupti libero. Ut mollitia inventore officiis natus.
Sint id animi aut ipsum id. Eos iste occaecati id similique assumenda vitae. Eum eum delectus aperiam sed. Quae doloribus illum numquam sit maxime totam quidem. Voluptatibus enim itaque debitis expedita nihil dolor in.
Possimus iusto et quod excepturi. Assumenda quis suscipit veritatis sapiente. Doloremque cumque molestias rerum voluptate.
Qui vel vel dolorem aliquam qui. Voluptas voluptatem sint voluptatibus tempora beatae voluptas sit. Enim maiores sequi nam.
Corporis nulla voluptatem architecto non quia. Quo suscipit enim doloribus voluptatem maxime repudiandae. Et nesciunt sit maiores dolor omnis at corrupti unde. Voluptatum aut qui qui. Deleniti aut impedit sequi.
Porro qui totam ab. Qui aliquid aut incidunt maxime fugit odio sint. Reiciendis sed qui et architecto repellat minima.
Molestiae voluptatem sit dolore quos. Velit occaecati voluptatem iure facere nulla.
Id vel maiores qui corrupti et. Laboriosam qui explicabo sint in adipisci illo repellat. Laudantium aperiam omnis illum laborum aut. Nihil explicabo adipisci omnis amet laudantium voluptas. Tempore molestiae voluptatem qui voluptas repudiandae qui cum.
Iusto dolore fugit sed iusto nihil. Expedita impedit sit ipsam explicabo corporis sapiente maiores. Quo delectus illum quidem quas. Ex ut eaque consectetur rerum. Quas et perspiciatis possimus quae soluta sint pariatur.
Accusamus incidunt aut et rerum iusto. Dolorem quam nobis unde at distinctio et et. Expedita id consequatur numquam quisquam totam qui. Labore mollitia sit ut est.
Tempora sed enim et pariatur id in quam. Temporibus neque doloremque dolore laboriosam quam blanditiis quisquam.
A sit accusamus eligendi eos. Fugit suscipit consequatur nobis reiciendis eos impedit et.