2013 Bonus Season

Bump

interested as well...

Ouch... That's it??

HarvardOrBust

Ouch... That's it??

Yea. I'm still waiting on numbers for my bank - we are still ~2 weeks out from the announcement.

Bump

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

kingoftheotherroad

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

mudkipz kingoftheotherroad:

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

Stub period from what start date!?

mudkipz kingoftheotherroad:

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

Stub? for what period?

Nouveau Richie mudkipz: kingoftheotherroad:

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

Stub period from what start date!?

1 yr LOL - all 1st years about to leave, every1 pissed off, G-fckin-G

mudkipz Nouveau Richie:
mudkipz:
kingoftheotherroad:

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

Stub period from what start date!?

1 yr LOL - all 1st years about to leave, every1 pissed off, G-fckin-G

I see. That definitely sucks.

Was just confused about terminology here. What you're describing is a bonus (unfortunately a very shitty one), not a stub. A stub is a prorated IB bonus for a period less than a year.

Nouveau Richie mudkipz: Nouveau Richie: mudkipz: kingoftheotherroad:

wow those numbers are low, most likely won't get any better with declining fixed income revenues looming

what do u mean looming declining FI fees lol - already down so muhc

Credit Agricole CIB - 10K stub 4 top bucket, not even joking fck teh French

Stub period from what start date!?

1 yr LOL - all 1st years about to leave, every1 pissed off, G-fckin-G

I see. That definitely sucks.

Was just confused about terminology here. What you're describing is a bonus (unfortunately a very shitty one), not a stub. A stub is a prorated IB bonus for a period less than a year.

LOL thas the jke - analysts get stub, then say "where is rest?" LOL THAT'S IT NO MORE JUST LIKE MACQUARIE A YEAR OR TWO BACK

well I meant for the future as well lol

Bump

I've heard 65 top bucket at Wells

Anybody have other comps?

.

We are a few weeks away from getting our numbers as well (NYC BB).

BMO 1st year: 45/50/55 BMO 2nd year: 60/65/70

RBC 1st: 50 top

Expecting numbers mid-Aug, payouts 1 week after

any other #s?

Still waiting for numbers here...

THE PsYcHoLoGy

Well, it's that time of the year that we have all been so patiently waiting for... BONUS SEASON! Numbers are coming in, and we all like to know how our comp stacks up in the industry. Please post confirmed numbers / ranges and let the fun begin!

- STRH 1st Year Median (S&T and IB): $32k
- Raymond James 1st Year Median: $45k
- Raymond James 3rd Year Top Bucket: $70k

Congratulations to everyone who made it through another (or their first) year in investment banking!

Kind regards,

PsYcHoLoGy

you ever get your numbers?

Any #s for bulge brackets?

updates?

Surprised this hasn't been flooded with info on here, the average across the street top buckets only:

$55K for first year $70K second year $90K third year

Close to flat year over year with last year.

As you are all well aware most don't get top so shave off $10K down and that's generally where the street is at this year.

Similar to last year everyone should carefully choose their banks, the days of all banks paying street numbers are dead. So join a growing platform or the best e-boutique you can find.

(Note next year you guys can triangulate this with a mid-tier, a place like BMO your normal mid market with no strange deal activity is going to pay about $5K below street, his numbers look about right).

WallStreetPlayboys

Surprised this hasn't been flooded with info on here, the average across the street top buckets only:

$55K for first year
$70K second year
$90K third year

Close to flat year over year with last year.

As you are all well aware most don't get top so shave off $10K down and that's generally where the street is at this year.

Similar to last year everyone should carefully choose their banks, the days of all banks paying street numbers are dead. So join a growing platform or the best e-boutique you can find.

(Note next year you guys can triangulate this with a mid-tier, a place like BMO your normal mid market with no strange deal activity is going to pay about $5K below street, his numbers look about right).

BAML is way above street this year.

^ yeah there are always outliers but best to look at the average if analysts on here want to jump around.

~$70K for a first year top bucket would be top and a high paying shop. That's just an outlier though.

Any word on the boutiques? I would be curious to see how Qatalyst pays on a down year.

WallStreetPlayboys

^ yeah there are always outliers but best to look at the average if analysts on here want to jump around.

~$70K for a first year top bucket would be top and a high paying shop. That's just an outlier though.

Might be more accurate to term that the median.

If BAML is paying $70K for the median first year analyst bonus they should all be counting their blessings.

Heard Citi paid $76k top bucket for first years!!!

WallStreetPlayboys

If BAML is paying $70K for the median first year analyst bonus they should all be counting their blessings.

To clarify, I meant that $55k might be the median, but it's definitely not the average given the prevalence of above-median outliers.

NY BB

1st yr: 60k 2nd yr: 70k 3rd yr: 85k

Duke4Lyfe

Heard Citi paid $76k top bucket for first years!!!

False.

NY BB

1st year top: ~60K

It looks like analysts in my group landed with a median of about $65 for those completing their first year. Associates are a bit upbeat that comp will be back to normal this year......not getting my hope up, though.

FormerHornetDriver

It looks like analysts in my group landed with a median of about $65 for those completing their first year. Associates are a bit upbeat that comp will be back to normal this year......not getting my hope up, though.

Median at my BB for first years is roughly $45-$47k. Everyone is disappointed.

Qatalyst 1st year probably got $90k

Citi 1st Year: 40 / 50 / 60

What're equity research bonuses looking like?

PA

Qatalyst 1st year probably got $90k

This is a common misconception for people who are trying to break into the street.

Why would a place like MS or GS or Quatalyst be interested in over paying an analyst?

They wouldn't, since they know you are going to leave in two years. You're seeing this happen more and more (look up Gs's new policies etc).

Your best bet to get paid as a lower end employee: here is what you do:

1. Outperform
2. Convince them you want to be a career banker
3. Stay at the firm

Now you could burn bridges, lie and say you're staying and leave, but generally again the people who are getting paid well above street are guys the company 1) wants to keep, 2) the guys who got slaughtered - think a first year if all the second years quit and 3) shops that have a history of retention.

Usually at spots like GS and top E-boutiques you're getting paid Street. When you move up the ladder you'll learn the following phrase:

"We pay analysts and associates just enough so they don't leave"

Quatalyst knows you're getting a sweet résumé and exit opps, no reason to pay you $100K.

(Note: yes there are always exceptions, example evercore has a history of high pay same with an e-boutique like center view)

But again there has to be incentive to pay you.

One last note: anyone who is trying to get into Wall Street, ignore analyst and associate pay, you shouldn't care. Why? Wall Street is a game of survival, the real pay days come when you are established.

As an example when you clear $250K as a year 1 associate... You just made roughly the same amount as your first 1.5 years in IB.

So stick with banks that pay at least median/mean street numbers. Don't be jumping to banks for an extra $5K if your bank loves you and wants to keep you.

Who cares about the $70K second year bonus instead of $80K if they already told you "we want you to be an associate here". The $10K hit today is better than the $250K loss by jumping to a slightly higher paying shop.

Never give up what you want the most (huge pay days) for what you want in the moment (short term $5-10K bonus as an analyst)

Can people please stick to posting real numbers? I would rather wait 2-3 weeks for this thread to materialize than have people post more internet bullshit.

BofAML 2nd yr - $80K base, $65K Bonus

Unless you have real numbers to post, please STFU and stop posting.

Different NY BB

1st yr: 55k 2nd yr: 65k 3rd yr: ?

I heard BAML's bonus is 100% of salary (70k) this year. Not sure if this is top bucket or median.

Citi S&T was 60/45/30

Clever Name FormerHornetDriver:

It looks like analysts in my group landed with a median of about $65 for those completing their first year. Associates are a bit upbeat that comp will be back to normal this year......not getting my hope up, though.

Not saying you're wrong, but would be extremely surprised to see a group at a BB at $65k median this year. Comp is down to flat across the board and would be highly unusual for a bank to pay that far above street unless it's a boutique.

Median at my BB for first years is roughly $45-$47k. Everyone is disappointed.

I disagree. Numbers seem flat to up this year. Your ~$45k median isn't exactly below street, but it's on the lower end from what I've seen.

WallStreetPlayboys

This is a common misconception for people who are trying to break into the street.

Why would a place like MS or GS or Quatalyst be interested in over paying an analyst?

They wouldn't, since they know you are going to leave in two years. You're seeing this happen more and more (look up Gs's new policies etc).

Your best bet to get paid as a lower end employee: here is what you do:

1. Outperform
2. Convince them you want to be a career banker
3. Stay at the firm

Now you could burn bridges, lie and say you're staying and leave, but generally again the people who are getting paid well above street are guys the company 1) wants to keep, 2) the guys who got slaughtered - think a first year if all the second years quit and 3) shops that have a history of retention.

Usually at spots like GS and top E-boutiques you're getting paid Street. When you move up the ladder you'll learn the following phrase:

"We pay analysts and associates just enough so they don't leave"

Quatalyst knows you're getting a sweet résumé and exit opps, no reason to pay you $100K.

(Note: yes there are always exceptions, example evercore has a history of high pay same with an e-boutique like center view)

But again there has to be incentive to pay you.

One last note: anyone who is trying to get into Wall Street, ignore analyst and associate pay, you shouldn't care. Why? Wall Street is a game of survival, the real pay days come when you are established.

As an example when you clear $250K as a year 1 associate... You just made roughly the same amount as your first 1.5 years in IB.

So stick with banks that pay at least median/mean street numbers. Don't be jumping to banks for an extra $5K if your bank loves you and wants to keep you.

Who cares about the $70K second year bonus instead of $80K if they already told you "we want you to be an associate here". The $10K hit today is better than the $250K loss by jumping to a slightly higher paying shop.

Never give up what you want the most (huge pay days) for what you want in the moment (short term $5-10K bonus as an analyst)

That's all nice, but it's observably untrue. The elite private partnerships really do pay the excessive premiums above.

The misconception here is placing GS and Qatalyst into the same bucket.

Nouveau Richie That's all nice, but it's observably untrue. The elite private partnerships really do pay the excessive premiums above.

The misconception here is placing GS and Qatalyst into the same bucket.

UBS London 3rd year top; £65k so ~US$100k + a separate assoc sign on

Any numbers on Jefferies?

Can confirm BAML $70k top bucket 1st year analyst.

I feel like BAML is paying well this year bc so many junior people jumped ship

In terms of what numbers are 'real,' the Citi and BofAML numbers look accurate based on what I have heard about analysts at those banks.

okay24

I feel like BAML is paying well this year bc so many junior people jumped ship

I wonder if the senior folks at BofAML finally heard from their friends at other banks that every shop on the street has piles and piles of resumes from folks at BofAML looking to lateral. These other banks are in a great position as they have a huge crop of assocaites with a year or two experience that they can pluck from.

We see so many of them...

ChicagoBears1

I heard BAML's bonus is 100% of salary (70k) this year. Not sure if this is top bucket or median.

True for Chicago/SF offices as well?

FormerHornetDriver okay24:

I feel like BAML is paying well this year bc so many junior people jumped ship

I wonder if the senior folks at BofAML finally heard from their friends at other banks that every shop on the street has piles and piles of resumes from folks at BofAML looking to lateral. These other banks are in a great position as they have a huge crop of assocaites with a year or two experience that they can pluck from.

You know, except the fact that we're talking about Analyst bonuses...

BAML has had a good year and made a pretty giant leap in the league tables, especially in the M&A world. Not surprising that they would be rewarding their talent for keeping their head down.

when do these bonuses clear, just curious??

TheBlueCheese

when do these bonuses clear, just curious??

Mine hit the bank account the day I was told, but I am at a MM. I think for BB it may be later.

2nd year, MM IB, coverage group, 57.5k bonus.

TheBlueCheese

when do these bonuses clear, just curious??

They typically hit along with your first or second paycheck in August, depending on the shop.

jzd2013

yep - was wondering who else

Why did you put question marks next to them? Pretty much everyone has numbers at this point, with the exception of a couple holdouts.

any elite boutique #s?

also buddy at HL said top bucket for corp fin side (so not RX and not FAS) was 55k top bucket, 45k median

Moelis numbers:

80K 1st year (top) 90K 2nd year (top)

not sure about median or spread

AnalystMonkey2769

do elite boutiques do buckets as well? sry just asking beause ppl at my firm said greenhill for example doesnt do buckets n not sure about lazard, because analyst classes are smaller than BBs obviously

Moelis definitely does buckets. Lazard is, for all intents and purposes, a BB and their analyst classes are sized to reflect that fact.

haggans

Moelis numbers:

80K 1st year (top)
90K 2nd year (top)

not sure about median or spread

Wowza

not that I've heard, at leat not the junior level. Everyone I know there is getting worked so I can't imagine them laying anyone off

You kids do realize that these numbers you keep throwing out so confidently apply to probably 5-10% of analysts, right?

"I heard XYZ Bank Paid $70k top for first years... #SICK!BALLSOHARD!BOTTLESATLAVO!" That's like 1 kid out of a 10 person group getting paid at that level in many cases. You kids need to check your delusions at the door and realize that if you leave for a buy side shop your base salary can often be greater than your all-in gross pay.

Stop regurgitating information and throwing around numbers as if they are common knowledge and definitive across entire banking classes. Saying that the median first year bonus at a bulge bracket firm for a first year analyst is $75k only signals to everyone else that you have no clue what you are talking about.

@rufiolove

This. Bonus numbers are always exaggerated by 20-50% - apply a standard 40% discount and you'll probably get the real number.

TBH, most BBs will pay ~$35-40K for most of their analyst class.