2018 /2019 Bonus Discussion
That time of year again. Banks have finished their fiscal year and should be close to payout time (BMO / RBC / others?)
Thought might be good to start a thread to see where comp is shaking out. I realize WSO has a database, but in an effort to keep things blinded and semi-real time lets post here. Please fill out the WSO comp survey as well, though!
Would be helpful if we kept a similar format:
Title: (As / VP / D / MD and year being paid on)
Rank: (Top / Mid / Bottom)
Bank type: (BB / EB / MM)
$:
% Cash:
Notes:
Title: As2 Rank: Mid? Bank type: Canadian (NYC office) Bonus: $150 % Cash: 90% Base: $175 (moving to $200)
Do you only want to make this for IB and FO or can BO also participate?
Not sure why you got MS thrown at you but I would be curious on BO bonuses.
BO bonus would be like $15
This idiocy has to stop. We are not in 2003.
If you're in a risk function, a fed-facing role, or a programming role, you can make a terrific living while working humane hours and have far more job security than a banker or trader.
I know people who work in CCAR as analysts that pull in $150k, they usually work a lot during Q1 but otherwise it seems like 50-55 hour weeks are the norm.
So far there are 10 comments and one data point. Would be nice to get more data and fewer questions about the data (questions which ultimately lead to unproductive arguments that have nothing to do with the content of the thread).
You must be fun at parties
Title: Director
Rank: No official ranking
Bank: BB
Bonus: $400k
% Cash: 75%
Data point from last year for reference.
Title: As2 Rank: Top Bank type: MM Bonus: $205k % Cash: 100% Salary: $175k
Rank: Top Bonus: Trash Me: Pissed
Title: AN2 Rank: Mid / Top Bank type: BB Bonus: $100k % Cash: 100% Salary: $95k
Wow - that's pretty high. Congratulations!
.
Type: EB Team: Generalist Seniority: An2 Rank: Tier 1 Base: $90k Bonus: $140K Cash: 100%
In spite of all the MS I got for asking if it was cool to post BO, I'm still going to share my numbers. In fact, I turned it into an AMA for BO work: https://www.wallstreetoasis.com/forums/ama-mid-career-professional-to-t…
TLDR: Top bucket in BO at BB, 4% rise in base, 10% bonus on $115K. Sure, you guys dwarf me but it's an office I like, MD actually knows my name, insane amount of time off that I actually get to use and never have to work more than 40 hours/week.
Title: ED
Rank: Top
Bank: BB
Base: $350k Bonus: $1.73m
% Cash: 25%
Some reference points from a top 3 BB for this year:
Title: Asc 2 Rank: 4/5 Bank: BB Group: Industry Coverage Location: NY Base: 175 Bonus: 105% Cash %: 80% Note: Top ranked got 125% bonus
Title: Asc 3 Rank: 4/5 Bank: BB Group: Industry Coverage Location: NY Base: 200 Bonus: 105% Cash %: 80% Note: Top ranked got 125% bonus
Title: Asc 1 Rank: 3/5 Bank: BB Group: Capital Markets (i.e. ECM, DCM, LevFin) Location: LDN Base: 90 GBP Bonus: 80% Cash %: Unknown
Title: Asc 2 Rank: 4/5 Bank: BB Group: M&A Location: Continental Europe Base: 150 EUR Bonus: 100 EUR
Yes, same. BB. Europe is a bit f* up recently because of USD strength vs. GBP. The base is traditionally fixed GBP and then they give you a bonus which should lead to a total comp which is 'aligned' with US is USD. Reality is that in European BB (excluding maybe few names) it is extremely rare to have bonus >100% of your base at analyst / associate (with 100% bonus being a cap). The result is that Base in GBP + 100% bonus is still USD peer because of fx.
As an example: as associate 2 you can make in NY 175 base + 175 bonus = 350; in Europe you would make 105 + 105 = 210 GBP and at current FX that is 280 USD. In 2014 with FX at 1.6, the GBP comp was aligned to US.
Title: Asc 3 Rank: 4/5 Bank: BB Group: M&A Location: HK Base: USD$240 Bonus: USD$155
What my bank does is try to normalize comp post taxes (which is kinda shitty but make sense I guess and this is atleast what HR has told me...) my HK total income taxes are 12% vs. plus 40% in the U.S.
Before people jump over this 240 USD base, HK cost of housing is higher than NY.
Title: AS3 (2018) Rank: Top Bank: MM Base: $175k Bonus: $265k % Cash: 100% Notes: Promoted
A couple datapoints from friends (all NY, all industry coverage groups)
Title: Associate 1 Rank: Mid/Top Bank type: EB $: 200 % Cash: 80% Base: 150 -> 175
Title: Associate 2 Rank: Unknown Bank type: Mid-Tier BB $: 100 % Cash: 100% Base: 175 -> 200
Title: Associate 3 Rank: Top Bank type: Low-Tier BB $: 250 % Cash: Unknown Base: 200 -> VP1 (not sure)
Title: VP1 Rank: Mid Bank type: EB (different than above) $: 300 % Cash: 75% Base: 250 (Flat)