2021 Graduates IB salaries, bonus, sign-on bonuses
For those of us who are graduating college in the next month or so and starting our careers in IB....what is your salary, sign on bonus, and expected bonus. Try to state general location, type of bank, etc.
Middle-market tech focus IB in Northeast. Generalist.
Salary: 75
Sign-on: 10
Expected bonus: 35-50
Year 1 All in range: 120-150
BB investment banking (industry coverage group)
Location: NYC
Salary: $85K
Signing/relocation bonus: $5K
Estimated bonus (based on Glassdoor and WSO IB Industry Report for my bank): ~$50K
School: #nontarget Class of 2021
Tips for breaking in from a non-target?
Tips for breaking in from a non target?
Damn they really hosed you with that sign-on bonus, esp since nyc apartments often require 3months rent up front. would have expected better from an nyc bb
BB S&T in NYC
Salary: 85
Sign on: 10
Expected Bonus: 25- 40
Year 1 Range: 120- 135
Bank: HW
location: satellite office
base: 85
sign on: 20
Expected bonus: 45-85
all in range: 150-190
Ridiculous savings, if you're in LCOL.
Yeah lcol for sure only downside is the dam tax rate is ridiculous
Any chance this is a “global boutique” HQ in Chicago?
LMAO, just say Blair
Edited original post
Associate at a balance sheet bank
Location: south
base: $150k
sign on: $50k
Expected bonus: $75-125k
all in range: $225-275k
Whats the difference between this and a private debt/credit fund?
I’m doing IB at a Wells. People always argue what category to put it in so I put balance sheet.
MM Midwest - Product Group
Salary: 85
Sign-on: 7.5
Expected bonus: 30-50
All in range: 122.5-145.5
School: Non-target
Tips for breaking in from a non target?
Yeah, tons.
These are the ones I can roll off the top of my head. PM if you want more info - best of luck.
MM Bank - Industry Group
Location: Northwest
Salary: 75
Sign-on: 10
Expected bonus: 25-45
All in range: 110-130
MM/BS bank - levfin
location: nyc
base: 85
signing: 10
expected bonus: 30-40
All in range: 125-135
MM Bank in Northeast - Coverage Group
Salary: 85
Sign-on: 10
Expected bonus: not sure how to find that?
School: semi-target
Analyst at “top” BB NYC industry coverage
Base : 85k
Signing : 10k
Bonus: 40k-60k
Hours : Lord have mercy on my soul
School: No name non-target
All In - 135k - 155k
Edit: Anyone know how “real” the GS discount is? Is my IB bonus going to be less than 40k-60k?
It's real, and I would expect something in the 35 - 45 range.
MM/BS Bank - Coverage
Location: South
Base: 80k
Sign on: 10k
Expected Bonus: 25k-50k
All in range: 115K-140k
BB Corporate Banking
Location: Houston
Base: 85k
Signing: 10k
Expected Bonus: 25-40k
All-in: 120-135k
Is corp banking that high? Pretty nuts congrats
Yeah at BBs where the Corporate and Investment Bank are housed under one, 1st-year analysts make the same base/signing bonus. EOY bonuses probably a bit higher for IB though.
Corporate bankers in Houston getting paid more than investment bankers in London...........
the only BB that does this is CITI fyi, rest have haircuts
x
Between the lack of income tax in Texas and the LCOL you're making more than most BB NYCers
MM Bank - Coverage Group
Location: SF
Base: 85k
Signing: 10k (with clawback)
Expected Bonus: 40-60k
All-in: 135-155k
Where is this at? I am a clone copy of this
Jefferies tech. Wbu?
PE Fund ~5bn aum
Location: NYC
Salary: 85k
Sign-on: 10k
Expected bonus: 45-55k
All in range: 140-150k
School: target
5bn aum doesn’t mean anything. What size is the most recent fund?
2.7bn
bro please stop with this "MM" or "BB" bullshit, that was only required when anon posting wasn't a thing, u can post the actual bank name and details unless you work at like a 1 person shop or some shit
He posts anonymously...
By any chance do you have some sort of reading disorder?
HF/PE in Austin
Salary: 85
Sign on: 10
Expected Bonus: 95
Year 1 Range: 190
Target
This is awesome. Care to share what exact buyside industry you are in?
Is this Vista Equity?
gotta be, idk of any other firm in atx that would pay that much at the analyst level
Did you have a target bonus in your offer letter?
Yes
Guggenheim NYC Generalist
Base: 85k
Signing: 15k sign-on
ideas on your potential bonus? 75%+ of base?
Bro I don't know where people are getting these projected bonus numbers
Top MM(think Instagram CEO/Peloton) in regional office (west coast)
pelotons: 1
Daamn, Instagram be payin' out pelotons for sign-on bonus?? I may just get a job there too.
.
Could you say which country?
.
Is this standard in Australia? And is this an analyst 1? They’re paying analysts 195K AUD all in? That sounds really high - I thought only HK paid as much as US
.
HK and Singapore both pay (slightly) higher than US. Post tax gap is much wider tho.
Mind if you PM me/I PM you? Would love to ask some questions about BofA in Aus!
BofA (Coverage group)
Location: NYC
Salary: $95K
Signing/relocation bonus: $10K
Estimated bonus: No idea
School: Ivy league
KKR- Private Equity Financial Services ( Offer Did not Take)- NYC
Base - $90,000
Signing Bonus - $15,000
Bonus - $90,000
Wait -- KKR... 190K... did not take offer?
Can you at least tell us what you turned this down for?
I personally do not care about deals ( IB or PE), however, due to the connections I have with PE firms I interviewed at MF's to practice, and to see how far I could go in the interview process. Due to the work I do, I have strong connections at a few buy-side firms ( AM, HFS, and PE) and I thought that S&T was a much stronger fit for me post-uni than any other I received.
I am also a huge believer in culture and the culture at KKR was not the best for me, and the role I signed with I believe is the best for myself especially from a diversity standpoint.
Additionally, with respect to the money that KKR offered, I am fortunate enough that I never have to take a job because of the money offered. In the grand scheme of things, I will make more money at 22 years old than most human beings see within a year and I actually will enjoy my work.
I also don't care about prestige tbh, I have gone to the " Top Firms" within their respective industries for internships and it helps on a resume but much rather do what I want and enjoy the people I am around than slum it at some firm I don't enjoy being at.
If you would like to chat offline, ping me.
Cheers.
Barclays/Citi/BofA Research, NYC
Base: 85k
Sign on: 15k
Hours: 50-60, (earnings szn 90-100 hours)
Bonus (Annualized): 20-50k (Very dependent on desk performance)
Non Target Canadian School
I've never heard a bonus so high in research. Is this a growing sector (tech/biotech/sw etc.)?
depends on analyst I hear— usually II-ranked teams gets a larger bonus pool. Sector also matters because of banking and trading revenue— so I'd expect tech/healthcare to get higher bonus than utilities/REITs, generally speaking.
Biotech sector here in a top group/firm. All but guaranteed a 50k bonus. Not II Ranked (doesnt matter as much, what matters is how much research can "bring in" capital markets biz)
Also incoming BB research NYC
Base: 85k
Sign on: 12.5k
Hours: Not sure, around 60 non-earnings and guessing 90+ for earnings
Bonus: heard ranges from 20-50k
School: Top 5 in the U.S.
MM bank product group
Location: southeast
Base: 80
Sign on: 10
Expected bonus: 30-60
Expected total first year comp: 120-150
what city?
MM South - Coverage
Salary: 80k
Sign on: 12k
Bonus: ?
School: TX target
BMO NY IB group tbd
Salary: 85k
Signing/relocation: 7.5k
Expected bonus: no idea, heard below street
Any info on London or Switzerland?
Wells Fargo
Location: NYC
Salary: 85k
Signing: 10k + ~5k early signing bonus
Bonus: idk, hopefully 65k is reasonable but someone at WF can feel free to tell me if not lol
Total: unclear
Incoming SA here, when did you get your bonus and is the comp the same all across IB even for Charlotte?
I believe analyst bonuses are paid around August, but I’m an incoming FT IB analyst so haven’t received one yet. Relocation/signing was paid in June for the internship and I would imagine a similar timeline for FT relocation bonus. Base salary is exactly the same across locations, obviously bonuses will vary by group.
Depends highly on group
MM/Boutique
Location: South (LCOL)
Base: 85
Sing-on: 25
Expected Bonus: 65 - 85
Expected total first year comp: 175-195
This is sick ass comp. Jefferies houston? lol
Would not be surprised. On a good year their top bucket can pull in 200-210k. Honestly could also be TPH if it’s a boutique.
Piper?
Piper pays nowhere close to this.
Not IB, but research. Non BB bank. Thought Id add a data point here
Location: East Coast high COL
Base: 90
No sign on offered, but relo is: 10
Expected bonus: 45-55
Total first year exp comp: 145-155
Hot sector for covered companies.
Hi,
I'm curious - is this bonus normal? I assume you're at the research equivalent of EB - ISI, Berstein, Wolfe. I'm an incoming ER SA at a top ER shop and was considering making the switch to banking, but with that WLB and comp, this seems a much sweeter deal to me imo. Thoughts?
i would say that bonus is atypical. If you are at a top shop, and hot sector, you should be compensated accordingly. many of the BB ER teams are eh, and dont really move the needle. but smaller shops where ER actually does help drive banking business it does make a difference in comp.
Wolfe btw is known to underpay their associates, especially considering how sweaty it is.
Dont let the comp make the decision for you. Do you want to be exposed to deals? Do you want to be a sector/company expert? Those questions should lead you down a particular path. Exits aren't all that different, HFs are obviously doable, especially since you'll be having direct communication with them once you are licensed. Corp dev is not out of the question too (that is what I am planning on in a few years, we'll see how that works out).
Japanese bank in NYC, corporate banking coverage group
Salary: 85k
Sign-on: 10k
Expected bonus: 25k-35k
Total first year expected comp: 120-130k
I'm really pleased to be getting this kind of comp with the better WLB of corporate banking but I hear they've been super busy recently so we'll see
Is it Mizuho or SMBC?
Small No Name
Location: Texas
Base: 65k
Signing: 10k
Expected Bonus: 65-85k
All-in: 140-160k
no name shop paying above street?
Heard a rumor that CohnReznick Capital in NYC pays 130k all in out of uni.
Apparently, the salary was 95k.
Can anyone verify? I personally do not believe it, but if anyone has any information on this please clarify.
Research associate at top AM in northeast
Signing/relocation: 25
Base: 75
Bonus: 30-50
All-in: 130-150
this is for right out of school? Boston i assume.
Yes its for right out of school and its actually not in boston although the company is based there
JPM Private Bank regional office (Incoming Analyst 1)
Base: 85K
Sign-on: 10k
Bonus: 10-15k?? Not sure tbh
Private credit fund in NYC
Signing: 10k
Base: 75k
Bonus: 20-30k
All-in: 105-115k
Hours: So far around 30-40 hours except at quarter ends.
Is that number of hours a week normal across private credit?
Definitely not - I would say normal hours are 50-60. My hours have been super lax since I started because 1) it's virtual, and it's difficult to on-board a new analyst virtually, and 2) by circumstance a bunch of the deals I'm staffed on are involved in legal issues that have slowed workflow to a crawl.
Incoming analyst in AM at a BB
Base 85k
Signing 10k
Expected Bonus 15-30% of base
Seeing threads like these makes me regret going into public accounting. Class of 2021 here as well. Hoping to get my MBA and then go into IB and may HF one day
Small specialized firm
$58,000 salary
No sign-on
LCOL in Midwest
Similar boat man. I'm 3 years out of undergrad. Doing MBA at a b-school hopefully fall 2022 to break into IB front office. Right now, IB Back office at $65k + 2-3% bonus LCOL south. Non-target public state school but studying like crazy to get a 700 on the GMAT and get into a semi-target MBA school.
MM in Southeast
Generalist - Group Placement TBD
Base: 80k
Sign-On: 12k
Bonus: ~35k
All-In: ~130k
Why in God’s name can no one just name the firms on an anon thread
Idk about others, but if I posted the name of my company everyone would know who I was. Only on boarding 2 analyst right now to their roughly team of 125 bankers..
Lol no. I can already tell what firm some of these right down to the city because of the very specific sign on bonus numbers given, which I know pertains to exactly which bank.
Research at top AM in northeast
Signing/relocation: 10
Base: 85
Bonus: 20-40
All-in: 115-135k
"Top" MM (HW/WB/Baird)
Base: 150
Sign On: 40
Expected Bonus Full Year 1: 75-100
All in Year 1: 240-270 (base bumps)
School: Top 10 MBA
Did you recruit specifically for MM/specific locations?
I did.
Had a few BB offers but thought the value prop for post-MBA made more sense at these MMs/locations. A decent # of classmates did the same.
Dallas, Texas
Work in S&T
Base $90K
Signing $10K
Half year bonus of $45K
Not sure if / what my full year bonus is going to be.
What firm/"tier" if you don't mind? Didn't know there was much of IB or trading in Dallas
Bank: GS, Financing product team
City: London
Base: £50k
Sign-on: £6k
Est. bonus: £25-45k (rough estimate based on rumours)
School: EU target
Boutique in Northeast - Tech M&A
Sign-on: 10
Base: 85
Stub-bonus for half year: 35-40
Full-year bonus: ~85
Estimated FY comp: 170
Top BB
Off-cycle intern => Got the FT offer
Does it make sense no signing bonus? Happens in other banks?
There should be sign-on for most banks. I was also an off-cycle intern at a top RX shop but was offered sign-on when I signed the FT offer
UBS APAC S&T (in USD)
Base: 90k
Sign On: NA
Expected Bonus Full Year 1: 7.5k - 22.6k
All-in Year 1: 100 - 120k
CS IB coverage group
Base: originally $85k, expected bump to $90-95k
Signing / Relocation: $12,500
TD IB Coverage Group, NYC
Base: $85k
Signing: $10k
Bonus: $50-$80k
All in: $145-$175k
TD is paying that well?
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