That time of year! A few banks have started to announce numbers. Please refer to last years thread for any inquiries about timing for xyz bank to keep this thread as productive as possible.
Bank: EB/ BB/ MM/ Boutique
Level: As1, Vp1, D1 etc.
Group: M&A, Coverage, Rx etc.
2022 Base/ Bonus/ All-in
% stock/ deferred
| +272 | PJT Addresses BoFA Aso Death | 41 | 1h | |
| +226 | Looking to raise a Billion Dollar Fund - College Junior | 35 | 8h | |
| +180 | It doesn’t need to be this way | 27 | 3h | |
| +119 | Justice for Leo - BofA is Disgraceful | 14 | 5d | |
| +80 | RBC M&A vs PJT RSSG | 14 | 16h | |
| +74 | Biggest gripe in IB: people with no balls | 28 | 5h | |
| +62 | Did I mess up by correcting my VP Publicly? | 20 | 49m | |
| +60 | Vanderbilt ($$$) / Northwestern ($$$) vs UF ($) | 28 | 2h | |
| +49 | Feeling really lost in IB | 14 | 1d | |
| +43 | Career Bankers, Was It Worth It? | 30 | 34m |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
From another thread
JEF As1 60k mid bucket
RBC As1 80k top
Please be a typo
Lol. 30k post tax bonus for 100 hr weeks as an associate being stressed out 24 7 and dealing with worst inflation since the Carter administration.
Thanks biden and rich handler.
If that’s what I get, I’ll be headed to the door when that bonus hits. Not worth it.
I would literally not set foot in the building or answer any emails until bonus is paid then resign
Imagine believing that global inflation is the product of any singular government administration,and not perhaps:
You should check out the money supply from FED data. There's been more stim money given out the past couple of years than ever before. Easy money and a bunch of stim money is part of the reason for inflation. The FED has been pushing off a natural bust cycle for too long, so now we'll have an extra difficult bust. I don't know how popular this opinion is, but I fully believe we need a major economic reset if we expect a thriving society. It'll hurt in the short term, but we're at unsustainable levels currently. Unfortunately, add in the horrific foreign policy being implemented right now and an increasing number of countries dumping the dollar or getting prepared to dump the petrodollar and we may not be able to control our fall and redemption out of this without conflict.
Stub Associate, M&A, MM Bank
$175k base / $50k signing bonus / Unknown Stub Bonus (Will edit when I know)
$225k total so far. Not complaining at all with the lack of deal flow and an uncertain market. Hoping for no layoffs.
Bro delete this useless post. No wonder everyone hates MBA associates.
Don't take your anger toward RBC out on me. Not my fault you work at a shit bank, eh?
Or you just contributed a zero-value-add comment of your base and signing bonus (this info alone is not relevant)… that could be it too.
There are countless threads on Associate base salaries, associate signing bonuses, and associate stub bonuses. Whether you think it matters or not is irrelevant, because there are clearly people that are interested in knowing that information.
Hey guys, I am a first year analyst, 110k base and 10k signing bonus (120k total). Hope this helps!
Incoming first year analyst at a prestigious bank, 20k sign in bonus, 125k based expected bonus is 150k. All income is untaxable
Associate 1
Bank: MM
Base: $175k
Bonus: $85k
Can you please say what bucket this is.
I assume not top given your lack of attention to detail.
Group doesn't provide formal ranking otherwise I would've included in my post. Only positive feedback in YE review so call it mid-top.
JEF ASO1 Coverage (ignore my title)
$125K. Surprised to see others at JEF get such low numbers. Maybe it was group dependent. I would estimate that my group probably had a better year than some others.
What is there to claw back
Funny how everyone shitted on BMO and they paid solid numbers this year.
Upper MM, As3, Coverage, $290K bonus - $515K all in. Group has decent deal flow
Bank: Scotiabank Toronto Office
Level: A1
Group: Coverage
2022 Base 100k / Bonus 60k / All-in 160k
0% stock/ deferred
For all of you shitting on Jefferies, keep it up - clearly mgmt reads WSO.
Know this is for ASOs but gonna say my piece anyways - Didn't post this on the ANL thread b/c I was worried about the bonus not getting paid out back in July, but got $25K as a second year after I told my group I was leaving for the buyside. Super shitty, realized I should've just quit when I got my buyside offer. What makes it worse is the fact that despite market performance, my group literally posted a record year by a meaningful amount (and advertise that quite publicly). Wasn't expecting that # given my EOY review was really strong (call BS if you want, but there was no indication of negative performance whatsoever, really just seemed like they were trying to make a point). Can't speak to the harassment stuff that's been getting posted recently on here but can to the toxic work environment. Oh yea, and they also didn't payout my PTO (which I thought was illegal but is allegedly the NYC office's policy)
Can provide more details in DMs.
VP1. Upper MM.
275 / 250-275. 525-550 all-in.
Group did OK. Not happy but also not pissed
We need a recession. You’re not happy working 50 hour weeks and 500 total all in comp? Insanity.
Any info on how houston banks fared? Good deal flow in o&g right now
BB / As3 / $240k / $465k
RBC, top bucket, VP2, 330k. Numbers were highly variable from mid to top bucket and even within top bucket based on rank within the bucket.
Boutique Firm
Associate 3 (Top)
Bonus - 425k
All In - 575k
What kind of boutique is paying that type of bonus for Aso with that kind of base?
It is not unrealistic for some no-name regional boutiques that exist in narrow verticals to absolutely clean up (FT partners started like that lol they are a meme and sweatshop and their experience is shit but, they do pay well). More of these exist than you may think, the difference is they don't focus on an industry with explosive valuation potential like FTP does. Imagine being the only firm in a 4-state area who works on a specific type of business that needs nuanced advice and exists below a size threshold too small for other banks to bat an eye at while the guy who started your small shop was an absolute player in that industry as an operator for 2 decades. These are the arrangements that make some people ungodly rich. I saw a firm on LinkedIn called "Car Wash Advisory" once, I think they had like 3 employees and did small deals but you can bet those 3 20somethings were getting a solid piece of every deal. Sometimes the fees from those firms are much, much higher relatively than typical IB fees (I once saw a <$12mm deal pay out an 8% fee, I once worked on a deal with a 5% fee. Shits ridiculous in the LMM and super LMM land).
My very first firm I was at paid a wildly low base but it was more than made up through bonuses as we were a small team so everyone got a larger portion of the deal. There actually can be a ton of money made at these very small firms.
It IS very rare, but not entirely unheard of. If a 6-person firm does a couple structured finance deals or a handful of $40mm cap raises and hits $200mm of transaction volume that's over $500k rev/head + retainer. If you're a firm that keeps a very low salary, you could probably pay out everyone a low 6-fig bonus
This guy may totally be lying but he may also work at a 7-person firm that is absolutely running train on a regional vertical you've never even heard of
Citi
A4 $175-225 bonus | $225k base
A3 $120-210 bonus | $200k base
A2 $70-170 bonus | $175k base
A1 $40k stub | 175k base
all bonuses 15-20% deferred depending on what you got
Citi - Large Coverage Group
Associate - 3rd year
New rating system to tough to tell what bucket but top / middle for my year specifically (comped against year above though)
Base: $200k | New Base: $225K
Bonus: $125K with 20% deferred
Disappointed would be an understatement
Citi - Coverage
ASO3 (ASO4 at Citi)
$225 base > $250 (VP)
$275 bonus
top bucket
Citi
Product Group
Assoc 3
$200k Base / $200k Bonus (20% in stock)
No idea what bucket
New base: $225k (Assoc 4)
JPM 2nd yr ASO. $173.5k bonus. Base up to $225k
Does layoff packages count as bonus? In that case 100% pro-rated for the 6 months that I worked!
EB / VP2 / Top bucket
base: 250
bonus: 475
Posting anonymously:
Bank: EB
Level: VP1
Base: 275
Bonus: 425 (75% cash, 25% deferred)
WF
Associate 3
$225 base
$250 bonus
VP Promote new base $250
Product
CS
Aso 0 stub
Coverage
175K base / 17.5K stub bonus for 6 months / 210K pro rated full year
Cash but is deferred into 3 instalments this year
Don’t know rating but shouldn’t matter for stub. Was ranked top bucket as an ANL 2.
Juniors are livid
EB
ASO 1
Base - $185k
Bonus - $185k
All in - $370k
Reasonably happy.
Guggenheim comp was not great and meaningfully below Evercore, Moelis, PJT, and of course Centerview. Most frustratingly, very narrow bands between low performers and high performers (~5% of total comp), which is hard to rationalize in a year like 2022. Now second year in a row Gugg has whiffed on comp relative to other EBs and favored bottom and mid bucket performers over top.
Guggenheim is the next Greenhill at this rate
Wait how are Guggs people complaining about 100% bonus on a shitty year?
Welcome to the delusional place that is Guggenheim. Whatever comp they get, they think it should have been 2x-3x higher.