Let's try to keep a running list going as people go through full-time recruiting and even starting for internships next year. The following list is just from people I know personally. Feel free to expand in the comments.
Confirmed pay jump:
Goldman
Credit Suisse
Wells Fargo
Morgan Stanley
Lazard
Perella Weinberg
JPM
Citi
UBS
Deutsche Bank
Houlihan Lokey
Barclays
Macquarie
"In talks"
Evercore
Confirmed NOT upping pay:
Greenhill
Stifel
Unverified/no consensus:
BAML
Also, if anyone has any info on if the salary increase for a particular bank is just IBD, IBD + S&T, IBD + S&T + ER, etc. that'd be very helpful.
Edit:
MS confirmed
BAML unconfirmed
JPM and Citi moved to the doghouse
Eurobanks (except you CS, we love you) moved to doghouse
JPM, Citi, Lazard, PWP, UBS added
Barclays moved to no consensus
DB made the move (finally)
Barclays confirmed
MS is confirmed upping to 85. Not sure where you got your info from.
One of their SAs a couple weeks ago told me HR made it clear to them all that MS wouldn't be following the other banks with analyst pay. Then MS confirmed it and made a statement that they were bumping Associate and VP pay, but not analyst pay. I guess they eventually caved with the analysts though? When did that happen and what's your source?
Just FYI it went like this:
MS upped Associate and VP Pay but not analysts Some banks responded by upping Associate and VP pay (inc. GS) GS had to take the lead back so they then upped analyst pay Some banks responded by upping Analyst pay (inc. MS)
Like other posters mentioned though, pretty safe bet all BBs will follow. EBs already had higher bases so not sure how that could play out.
MS still No Change for S&T Associate. Frozen at 100 for S&T, bump 100 --> 130 rest of the bank. Embarrassing.
Yes I think that was the original plan but all offer letters for next year's analyst class have been revised to 85 since two weeks ago. Source is the offer I received from them and other users have also confirmed the same in another thread.
Could someone please comment on whether this is just for IBD or for other analysts as well?
I'm doing S&T at one of the banks you have listed under "in talks" and one of my buddies is starting FT S&T right now and he thinks we will definitely get the raise but I would like some other insights.
This is hard for me to know since I know very few people in S&T, but I know BAML did it for both S&T and IBD, and I'm imagining most others did as well to prevent the classic IBD-S&T animosity. Your friend is definitely SOL though if he just started full-time. No bank is retroactively upping those guys' pay to my knowledge - it's for the next year's class.
Does this include corporate bankers and the corporate underwriting team (credit risk)?
Barclays S&T confirmed to be base pay $85K (confirmed by my offer letter and others)
Dude, every bank is going to follow suit. Pay at the junior level is largely similar. Any bank that doesn't follow suit will see a massive drain of talent.
You might be happy putting your faith in the "is going to" gods, but I for one prefer to trust the "already has" doctrine when considering my options for full-time.
Look, no offense, but If you're so short sighted and know so little about this industry that you'd make a decision because of a 15K difference in first year salary (not even total comp, just salary) my guess is you aren't going to have many options for full-time.
Let us know when all those offers are rolling in
motherfucking douchebag
Talent?
Heard through the grapevine that 1st/2nd/3rd year salaries will be 85/90/95....kind of disappointing increases YoY. Can anyone confirm?
I have heard that JPM, BAML, Barclays, and Citi have NOT offered the 2015 analyst class 85k in their offer letters. Multiple friends in the 2015 analyst class going to GS, WF, MS, and CS have confirmed 85k in their offer letters.
If anyone can confirm (the offer letter states 85k) from the banks that have not confirmed (not put 85k in the offer letter), please post.
BAML actually has bumped up the pay to 85k. As of Friday, UBS has bumped the pay to 85k as well. The only BB's that haven't bumped as of yet are JPM, Barclays, Citi and DB
What's your source for BAML?
This site really needs an age limit Haha. Fucking daycare at times.
Anyone over at WF? They have some FO roles as part of the 'Wholesale Bank' or whatever it's called rather than 'WF Securities' did those guys get a pay bump as well?
interested as well.
Confirmed that IBCM (Investment Banking Capital Markets) group within WFS got the bump. Don't have any sources for S&T or ER though.
Confirmed that IBCM (Investment Banking Capital Markets) group within Wells Fargo Securities got the bump. Don't have any sources for S&T or ER though.
Just received an offer to join a coverage group and 85 is confirmed.
What about Jefferies
bump. Any news on JPM, BAML, Citi, or DB?
Can confirm MS has bumped to 85 for IBD, GCM, ER, and i think S&T but not positive. And BAML has not bumped yet.
Heard from the inside that UBS has bumped Analyst salaries to $85k, and the incoming class next year has received new offer letters.
this is basic game theory
Any information on US banks in Europe?
Moelis Class of 2015 Analysts got $70K. Confirmed.
Is there anyway you can use this to negotiate? (ie: offer from MS but prefer group at JPM). My initial guess is no, but is worth a try?
Oh wow, looks like every bank is bumping their base. Interesting...
Can confirm UBS raised from IBD. Not sure about other divisions
Heard from a friend that Citi plans on bumping their pay, nothing confirmed yet though.
I'm ready, leadership needs to use the gas pedal, it's on the right and the middle!
Citi is offering 125K to fresh Associates. I think this is a bump from last year. Isn't it?
Wonder how will this play out for current analysts. 85/95/105 starting next paycheck?
Know one 2nd year at MS who got 90.
GSM is offering $275k base for second year analysts
I'm not going to lie, my number was a guess. But just talked to a buddy of mine there, it's actually not as high as your figure, only $410k for the recent batch. This is confirmed.
deleted
Do you guys think this will have an effect on post-mba associates also?
I mean this should ripple to consulting and tech also right? They compete for the same talent these days
Banks made this move to lure top candidates away from consulting & tech. It'll be interesting to see consulting & tech's response. It could potentially be a vicious circle.
...especially since Tech is not only offering money but all kinds of other perks and fancy hqs too...
Not a vicious cycle if it means higher salaries
Citi bumped to 85k
.
PWP confirmed $85k base 1st year analyst
As far as I know, CS SAs in capital markets (IB side) all got 70K offers for full-time.
Confirmed - GS IBD 70K > 85K - Citi IBD, S&T 70K > 85K
Barclays confirmed to 85k from a summer in the SF/Bay Area office.
How did he/she recieve notification? Did the full time offer get amended?
I believe it was amended or it was given as 85k. Not too sure. I didn't ask for that much detail.
So it's just JPM and DB who aren't upping pay?
It's about time base pays got raised! Hooray! Hooray!
Any word on MM banks?
Would it be funny if JPM upped to 90k.
Would it?
Haven't heard anything confirmed from summers or full-times at JPM, DB, and BAML. If anyone can confirm on these banks, please post.
For those of you who aren't aware, GSM is one of the SB's (superior boutiques). They do advisory for all of the other investment banks, so they get fees on fees. It's very lucrative. Unfortunately their NY office is only analysts and a few LFJ's (large floppy johnsons), everyone else works out of Bangalore.
I had heard they were opening a new office in Botswana but that may have been a rumor. Also heard bonus pools were 250/300/350k.
Lazard?
Update on JPM and DB would be great.
I know for fact that JPM hasn't said anything either way to their S&T summer analysts who are going back for full-time but I've spoken with a first year in S&T there who says he's almost certain they will up it. I don't see how JPM can let GS and MS do it and not follow suit
Any update on BAML and Barclays?
JPM is stuck at 70k Confirmed
Waiting for someone to IM me back about DB, standby
Citi upped to 85k. Heard JPM is informing today
JPM analysts got a letter earlier today confirming bump to 85K
Any word on current Analyst and Associate salary bump?
You wear a book bag to work everyday ((( CONFIRMED )))>>>>>
Lazard and JPM increased within the past few hours. CONFIRMED
Anyone have any color on the MM banks?
Just got word from DB, still at 70k
CONFIRMED >>>
"We prefer to pay our slaves a slave wage until such slaves decide to revolt, at which time we will replace slaves with recently-graduated preftige douches."
You know Anshu has his finger ready to send that email blast out
JPM Confirmed 85k for incoming S&T analysts. Haven't heard about IBD but there's no fucking way they didn't up them if they upped S&T. Private Banking confirmed staying at 70k.
Man, I literally cannot believe all these banks following suit. Like I am so surprised.
Anyone heard about Blackstone's advisory division?
Lol, you are such a mongoloid. Let it go bro.
I wonder if they just increasing salary and will decrease bonuses in future. Probably easier based on mandates and guidelines going forward
Anyone know if Corporate Banking at any of previously mentioned banks received the pay bump?
A friend in Citi Corporate Banking also received the raise.
Is GS IMD at 85k? Or is that only for securities and I Banking?
Piper Jaffries is at 95k. Confirmed.
Heard GS TMT analysts left to join Piper.
Lazard confirmed at 85k.
-
Anyone know whether GS IMD got the bump? Any confirmation on Associate pay going up to? I would have thought they would raise IMD salaries as well, but perhaps not to the same extent as IB/CM guys....
I know JPM didn't give a raise to the private banking/Asset Management kids even though S&T and IBD got it. I don't know what "IMD" stands for but I'm guessing Investment Management Division which is probably similar to our PB which is, again, not getting a raise.
Reconfirming 70 at DB, though they "are keeping their options open in the future"
Anyone have any color as to the timing logistics for bumps? For instance, would a current first yr analyst get a raise to 95k this following summer?
If not all BBs are bumping salary what is the general trend for non-BBs?
I just accepted an offer for 70k at a top MM and am curious what to expect going forward
DB just sent out the letter today upping base to $85
{{{~~ CONFIRMED ~~}}}>>
DB raised to 85K today. CONFIRMED
HL raised to 85k CONFIRMED
What is your source for this? Any news on how it will affect current analysts? Also, is this globally, or just in the US?
Anyone know if associates at Barclays have been upped?
For current analysts, has anyone heard when the new raises are effective?
As a prospective monkey, why does everyone hate DB? I'm not being sarcastic, there just seems to be a lot of anti-DB on here.
we know it's you Juergen
CONFIRMED
UBS raising 1st year analyst pay to $60k PMD pay raised to $150k
do these base raises mean bonuses are reduced?
This is an interesting question. Anyone who knows?
I doubt there are many people who know that are on this website. Most have probably heard their managers say it isn't coming out of bonuses but I'll believe it when I see it. Relatively down year, wouldn't be surprised to see some justify lower bonuses with higher salaries, but that will come down to the top BB banks. Whatever they do, as we've seen with this, will determine how the rest of the street reacts.
That said, I'd rather have the higher salary with a lower bonus but it'll be interesting to see what happens with people leaving now. Less incentive to stay for the bonus if it isn't as big.
There's no confirmation Stifel will not increase pay. Rumor has it they will follow suit. They've made a bunch of acquisitions recently and are trying to re-brand as a "premier" middle market firm. Premier middle market firms pay street
Will this apply to MO analysts at GS?
Does anyone know what is happening with pay in London? $85k works out to about £52k which is above the current £45k offered.
What does this mean for current analysts? Does it cascade across current 1st, 2nd and 3rd years at some point?
Also does anyone see this going beyond S&T and IBD? As far as I know, most BB's pay Ops ~55k and MO(risk, finance, etc.) ~65k. Does that mean that middle and back office positions will have a 30k/20k discount to IBD and S&T?
Barclays officially notified analysts of the pay bump to 85k
Confirming 85k pay bump at Barclays
I heard GS announced to their London analysts they would be bumped, no comments yet from other banks but everybody is hoping for a January bump.
Salaries have not been increased in London (fact/verified for multiple banks)
Can verify BAML IB/ER did not get the bump
Do you expressly know BAML won't move, or is it just that nobody has heard yet?
Greenhill was already at 85k base...
Does anyone know when the last day for summer analysts to accept their offers for the NY offices is? (Thinking GS/MS/JPM)
Does anyone know if the base is going to increase for risk management incoming analyst at BBs? Thanks!
Can anyone confirm if this applies to associates and VPs and if it's also a 20-25% bump?
I don't know about VPs.
Any updates from MM banks on par/'above' HL? My firm still at 70k...
centerview confirmed 100k base, 50k sign-on, likely 100k bonus
Any updates on MM IBD (Blair/Baird/HW/Jefferies)?
Looks like no MM pay bump
So the salary bump is for next year not for this year?
Nomura bump is confirmed
Any update on Jefferies or Macquarie?
Macquarie bumped base pay to 85k
Confirmed
Why is Stifel / KBW not bumping pay???
They are a top MM bank. Better than HL, Nomura, etc.
"The Premier Middle Market Investment Bank" is what they're trying to re-brand themselves as according to friends of mine. Given all of their recent acquisitions, it would most certainly be a step back not to bump pay. No "Premier" firm will pay below street.
Any perspective on the London offices? I have a contract in front of me which still pays the regular GBP45k. Any rumours or knowledge of potential pay bumps? Is it ok to ask the company directly whether they plan to bump pay or shouldn't you do that as long as you haven't signed anything? Thanks guys.
Don't think London salaries are getting bump unfortunately.
Yeah me neither.. It sucks though and I don't really understand why this bump only applies to the US..
Jefferies bumped. Confirmed by front page of DealBreaker
McDonald's grillers bumped to 85k
CONFIRMED
(Waiting for official word on cashiers)
well deserved imo
deleted.
Piper bumped to 85 as well.
Anyone know how this trickles down to 2nd and 3rd year pay?
Any word on Raymond James?
Any CONFIRMED word on the middle market (both BB-esque and pure MM) banks? Can anyone in the know please provide some insight?
Wells Fargo Jefferies RBC Capital Markets Harris Williams Houlihan Lokey William Blair Piper Jaffray Stifel Lincoln International Baird Duff & Phelps
Thanks!
lol at stifle being better than HL and Nomura. troll
Any updates?
Moelis 90k base confirmed
--
Still no update from BAML- what do you guys think they will do?
BAML raised to 85k. Confirmed.
Is this for all of investment/corporate banking (think BAML calls it GCIB)?
Stifel DEFINITELY upped their pay for 2015 Analysts.
Do we have anyone in London that has been upped?
US guys, you shouldn't worry. If 1-2 banks raise, all will follow just a matter of time. I am just worried that none in London has been upped.
Can confirm London will be seeing a paybump.
Yeah but theyll go up soon for all the banks much like in the US.
Whats the content of your confirmation? I am currently employed at a BB in London and so far none has even mentioned the pay rise, not to mention that we haven't received any updated contracts nor the fact that incoming analysts still have 45k on their offers.
Give it a couple of weeks im pretty sure other banks will follow suit. Are you at an American or European bank?
This has probably already been mentioned earlier in the thread but 2015 summer analysts will be paid 85k pro-rated not 70k (well at least for GS).
I think all BBs have raised pay in the USA. Are you talking about the US or London?
BAML bump seems to be true: http://dealbreaker.com/2014/11/pay-hike-watch-14-bank-of-america/
Was anything announced regarding the timing of the raise for analysts/associates who are already working ? January or next summer with the new intake?
Effective January 1st 2015 for my BB. Though we won't see it reflected on paycheck until Feb 15th pay day (15/30 pay cycle). I heard Feb 15 will be higher than the rest as it will compensate you for the missed Jan 15 & Jan 30 pay day.
Also, heard structure will be 85/95/105k. 2nd years will see their pay go up.
Anyone have any clue how this will affect bonus? Thanks!
Maiores et ea dolor numquam. Voluptate ipsa consequatur voluptates aut. Unde voluptatem est minus sint soluta consequuntur. Autem officiis aperiam voluptas hic quasi. Quia delectus optio expedita autem voluptatem hic ut. Eum sed architecto ullam et ipsum perspiciatis error ex. Voluptatem sunt rerum facilis.
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...
Fugiat voluptatum molestiae natus quia. Alias blanditiis cum labore et eos quam ut. Exercitationem voluptatem sit modi ut labore voluptates praesentium. Autem et placeat quos sequi quam repellat autem itaque. Eos consectetur voluptatum rerum quod quos deleniti aspernatur.
Eum accusantium quibusdam voluptatibus omnis. Voluptatibus consectetur enim rerum quia ab quis tempora.
Sequi accusantium qui neque deleniti corrupti. Non non voluptate delectus non. Voluptatem totam labore consequuntur. Et nulla at molestiae repellat harum esse. Delectus laudantium voluptates exercitationem sed pariatur et omnis. Non sed corrupti doloribus vel velit.
Aliquam impedit distinctio itaque. Tenetur fuga molestiae id voluptatem culpa itaque. Non aut et quam et eum eveniet.
Itaque cupiditate numquam dicta eum quasi error enim. Saepe voluptas omnis nostrum quis ut sint. Repudiandae qui necessitatibus rerum porro maiores. Ad voluptatem illo et.
Numquam quisquam ut et veniam error voluptas et. Officia fugiat quidem rerum occaecati consequatur similique labore. Nam consequatur tenetur dicta non nihil quaerat similique doloremque.
Et dolor animi fuga perferendis fugiat sed. Quae et corrupti vero. Vel culpa quia et et. Saepe recusandae non esse atque.
Rerum corporis reprehenderit officiis. Voluptas ipsam unde nihil rem nihil qui facere.
Iusto voluptatem fuga consequatur illo. Exercitationem et delectus architecto animi neque voluptas voluptatibus. Et officia itaque eos qui occaecati. Voluptatum qui fuga quisquam impedit saepe fugit. Unde expedita eum eos.
Aut quas repellat rerum dolorum perspiciatis. Assumenda iure distinctio dignissimos qui deleniti ut.
Quidem eum voluptas voluptas quas. Ea est libero veniam sed.
Ipsam nesciunt quo a at dolorum. Consectetur et et quia tenetur sapiente. Rem reiciendis deleniti dolores et praesentium. Rem fugit ipsa quia odit. Magnam consectetur neque sapiente rerum occaecati saepe. Voluptatem odit quia in quia labore.
Sint ut adipisci et nesciunt. Ipsam ipsa tempora laboriosam quo. A deleniti autem neque modi.
Omnis quo dolor quia est eaque rem odit ut. Alias velit consequatur est amet unde. Et at repellat commodi non voluptatem vel voluptate. Tempore dolor commodi laudantium illo. Numquam voluptas quidem ducimus animi. Rerum iste aut vero quisquam similique nihil quod at.
Earum dolorem deserunt dicta voluptatem consequuntur dolores libero. Iure quam nam debitis consequatur. Animi quam autem eum iusto est. Amet corporis est voluptas dolorum.
Saepe eius vel omnis ut qui. Inventore et facere aspernatur quod rerum et. Dolorum rem rerum nesciunt consequatur dolorem aperiam. Omnis soluta est consectetur eum. Qui aut qui adipisci voluptatum eum. Est dolorem numquam voluptatem. Ut soluta inventore dolor in sapiente possimus nobis et.
Quos eveniet iste velit minus cumque consequatur. Accusantium optio culpa perspiciatis quos adipisci omnis quibusdam beatae. Dolorum quod molestias voluptas voluptates officia. Rerum at dolorem dolore perferendis est itaque. Saepe aut asperiores quod veritatis est quo aliquam.
Voluptatem odit vel id quae. Labore minima nesciunt aut vel sit.
Sit omnis reprehenderit explicabo ex. Sunt tenetur quam delectus fugit provident esse iste.
Sint omnis necessitatibus nam eum laboriosam. Voluptas illo qui sed. Aspernatur maiores dolores expedita voluptatem veritatis illum a.
Aut iste cum animi velit nisi quod. Corrupti illum tempore suscipit doloribus est qui. Repellat est sed nisi molestiae qui sed asperiores.
Officia ducimus deserunt deserunt voluptates. Aut ullam minima ut vel voluptatibus et. Voluptatum non autem odit repellendus dolore. Eaque reiciendis quisquam quasi eveniet qui. Ut vero quia labore quidem optio ratione.
Nulla consequatur animi quia delectus ad. Et quas sunt quam et atque.
Animi nihil omnis veritatis atque. Et nam voluptates soluta enim itaque laudantium.