Starting a thread about 2023 2nd Year Analyst bonuses.
I received my bonus number today of $70k. What are other A1/A2 receiving bonus wise? I feel a bit unhappy about this number given the fact that my firm passed over everyone being promoted from A2A this cycle and either let people go or made them 3rd years with the promise that they would revaluate next year. For context, I am top bucket at a large MM IB and work in a group that has been extremely busy despite lack of deal flow industry wise.
Am I being ungrateful? Curious as to what others think...
Are you busy in terms of ongoing work/capacity, or actual closed deals and revenue? Plenty of groups are grinding, but deals are not closing or they are far smaller/lower revenue than usual. Even if your group is doing well, your bank is probably not as a total level which still impacts you.
I think $70k is pretty solid for a MM in this market, maybe $10k under if you guys are actually doing tons of deals, but they are probably not looking to give 2nd years huge bonuses and encourage everyone to stay another year. They won't need 1.5 or 2 classes worth of A2A next year.
Either way, I would start shopping for a new role as you can't count on that A2A next year
Yeah on a pretty big sell-side right now that we're expecting to sign in the next ~2 weeks. Thanks for your perspective, very helpful.
BB mid-bucket product group and got 58k and no a2a. Everyone got promoted to a 3rd year analyst. Not sure how to feel about my number and feel torn because on one hand I have good wlb and wasn’t fired, but on the other was a lateral hire and the move has probably cost me ~150k already
.
Ungrateful - no
Oblivious/immature - absolutely
Anyone expecting bonuses not to be down this year across every firm either hasn't been paying attention or doesn't understand the business.
3 year promotion cycles used to be the norm. They were phased out during the boom, but they aren't in your best interest for many. Many analysts aren't ready for the associate role in two years. They have the technical knowledge but lack managerial skills, maturity and poise in front of clients. A lot of A2As in 2020 and 2021 crashed and burned, which probably wouldn't have happened had they been given the extra year as an analyst. The true superstars who do benefit from an early promotion will get the promotion regardless of the macro environment.
That's great if you're busy but that doesn't answer how close your group is tracking vs. its budget (arguably the biggest driver of comp) or its pipeline. Even if your group is the anomaly, lower comp from peers will still bring down that bonus.
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