I am an analyst at a BB. We get numbers in July and checks in August (hoping we get anything at all). Haven’t heard anything from the firm yet, and i feel it is insensitive to ask. Without calling out banks, have any of you guys had any communication on analyst bonuses and what might be expected?
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Have heard a few top EB will be paying as high as ever ($210k+ all in)
Rationale being analysts worked harder than ever this past year and earned their last 12 months compensation. Many EBs indirect marketing pitch to college students rely upon high comp (compared to BB). Analyst expense is trivial anyways and this will be a way for a few EBs to "get ahead." 2021 IB analyst comp may be affected though, depending on how COVID plays out
this is extremely false. banks have little incentive because most analysts don’t decide banks based on pay. otherwise everyone would go for Centerview if they could (which they don’t)
“Extremely false” lol. Assume you’re either a high school / college student or are very out of touch in this area
Therefore, a few elite boutiques are VERY much incentivized to pay (relatively cheap) analysts well, otherwise the virtuous cycle starts unraveling. Comp numbers will inevitably leak externally and the street will know who takes care of their own and who doesn’t. Not to mention it’ll hurt internal culture/morale. Would be penny wise, pound foolish.
man I really need to switch to EB haha
I was going to start recruiting but covid hit. Ideally I would wanna go EVR, CVP, Moelis so those full-time opps don’t come up that often.
From what I’ve heard from other associates if they’re not gonna be career bankers the name recognition of BBs in other industries or Corp Dev is what they’re really going for. For some VPs, they’ve specialized in a subvertical so openings for that exact need doesn’t come up that often. But if I were to be a career banker I’d definitely switch to EB to maximize career earnings.
It's not just about the money - at a BB your have a wider range of products to offer that make it easier to establish relationships with clients and expand your coverage. At BBs you may get better benefits.
Finally after a year or two as an associate you have built your rep within your group, hopefully MDs like you and you get a top bucket bonus and have a path to the ED promotion (and then it'll be up to you to generate revenues) and moving to an EB would mean starting all over again building these relationships. Given that most associates have done an MBA, they are in their 30's and want a stable life to settle down with their wife and have kids - changing firms can be seen as a risk not worth taking