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

 

Yeah, tons. 

  • Network like crazy. Keep your emails short and to the point while expressing any connections you have with the person (university, conference, hometown, fraternity, etc)
  • Know your technicals. You should be able to recite the M&I guide off the top of your head but also understand the why - Investment Banking by Rosenbaum and Pearl is good for this. 
  • Your resume should pass the "art test." I heard (honestly idk where) that a beautiful piece of art is marvelous from 30 ft, 3 ft, and 3 in. 30 ft is for the first glance from HR, 3 ft is for you interviewer, and 3 in is to get past the application tracking system. PM me and I can elaborate more on this. 
  • It only takes one... You just need one opportunity to get into banking, and when that happens, you have to take full advantage of it.

These are the ones I can roll off the top of my head. PM if you want more info - best of luck. 

 

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?

 

Corporate bankers in Houston getting paid more than investment bankers in London...........

 

5bn aum doesn’t mean anything. What size is the most recent fund? 

 

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 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

 

BofA (Coverage group)

Location: NYC

Salary: $95K

Signing/relocation bonus: $10K

Estimated bonus: No idea

School: Ivy league 

 

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.

 

MM bank product group

Location: southeast

Base: 80

Sign on: 10

Expected bonus: 30-60

Expected total first year comp: 120-150

 

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.  

 

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). 

 

Small No Name 

Location: Texas

Base: 65k

Signing: 10k

Expected Bonus: 65-85k

All-in: 140-160k

 

Research associate at top AM in northeast

Signing/relocation: 25

Base: 75

Bonus: 30-50

All-in: 130-150

 

Yes its for right out of school and its actually not in boston although the company is based there

 

Is that number of hours a week normal across private credit?

 

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..

 

Research at top AM in northeast

Signing/relocation: 10

Base: 85

Bonus: 20-40

All-in: 115-135k

 

TD IB Coverage Group, NYC

Base: $85k

Signing: $10k

Bonus: $50-$80k

All in: $145-$175k

 

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