Think some firms have started their review cycle. Thought I'd create a thread to start sharing of news in classic WSO fashion.
Any other context as well (firm performance, etc.)
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When do bonuses typically come out?
Usually hear numbers between mid July and mid August
Optimistic bonuses will be a little better than last year given the first half of the year has been crazy busy.
Have deals closed for you all though? We are busy but not closing too many deals.
That being said, I think bonuses may be slightly down.
Yes deals are closing. Fees in general across the board are way up YTD.
What do you guys predict the average BB bonus will be?
First year middle bucket $30k
Second year middle bucket $45k??
That's just my gues haha
Ohh lord that is terrible
Bump, incoming AN1 super curious
MM
Coverage Group
AN1
Mid Bucket
$42k
Which MM?? Name the firm
Not 100% sure but probably Jefferies being they are the only one that already reported earnings. Good numbers tho, I didn't expect it to be this high
Anl 1
MM - M&A
Middle Bucket
$50k
Following
Numbers so far are scary. Last year’s thread had analyst bonuses (top bucket or highest reported) being posted starting in June in about the following order:
(Company - Analyst 1, Analyst 2)
Harris Williams - 60k, 95k
Mizuho - 55k, NA
RJ - 50k, 70k
BMO - 50k, 72.5k
RBC - 45k, 95k
MS - 65k, 90k
CS - 45k, 80k
Barclays - 55k, 55k
WF - 60k, 90k
Oppenheimer - 70k, 90k
UBS - 55k, 100k
TD - NA, 90k
JPM - 70k, 105k
BofA - 65k, 90k
HL - 57k, 77k
Truist - 55k, 105k
DB - 40k, 70k
Citi - 75k, 115k
GS - 70k, 100k
PS - 60k, NA
EVR - 75k, 90k
LAZ - 50k, 70k
Stifel - 50k, NA
Leerink - 80k, NA
PWP - 80k, 90k
Moelis - 80k, 110k
Lincoln - NA, 80k
Gugg - 90k, 110k
gugg an1 top bucket was 90 (for last year)
What is PS
Piper Sandler I assume
Scary? The ones above are better than I expected
following
MM
Coverage Group
AN2
Mid Bucket
$48k
Kind of weird that 3 people in a row have posted anonymous bonuses that are very low… why aren’t people naming this MM firm if the numbers are real
Can’t speak for the other posts, but our coverage group worked on a lot of stuff that didn’t close. we just recently got a strong fee but it didn’t affect bonus :(
This is ass if true
For an AN2 this is not good...yikes sorry to hear hoping this is just one firm.
At HW and have heard between $40k-$60k for An1 and $60k-$80k for An2. For An 1s think most people settled around $52k
Anybody willing to name these firms? People were very transparent in previous years, it helps the community to know which banks underpay.
Most MMs communicate in the next month or so, idk who’s even reported yet
Fair point I updated
Can confirm this. Middle bucket anl 1 was $50k and I think middle bucket anl 2 was $70k.
$52.5k was exceeds and $60k was significantly exceeds for anl 1.
GHL?
doesnt release until august
Any new numbers? My firm’s announcing bonuses last week of July
Bump, won’t hear for another 2 weeks
Bank of America lower bucket 20k
(Sick bank and awesome group)
Bonuses have not come out yet stop lying
I promise you that is what we are getting.
This was a troll post but I wouldn’t be surprised at all if this holds true. Even middle bucket
Basically flat from last year based on other threads which sucks
Location?
NYC
BMO Toronto, Product, A2, 90k, top bucket, 10k promotional bonus + 2 weeks vacations
Is this Canadian dollars?
damn, promo bonus in US is 40k
UBS anl 2 coverage. All CS anl 2 got adjusted down 10k bc their base is 125k vs 115k for UBS. middle bucket 58k and 68k
Top bucket was 68k for Anl2
Pretty sure that was mid-top bucket. Know an AN2 that got 92k for top bucket (net of 10k adjustment).
Damn, has comp really gotten worse nowadays? In 2021 my middle bucket An2 bonus was $100K. And this was right when they bumped all the bases up to where they sit today
The covid era is over
And they wonder why quality of talent has gone down...
I'm not sure where the sentiment of bonuses being insane for 2 years due to borderline 0% rates and one of the largest capital injections ever in the market translates to carrying those same bonuses into perpetuity.
Is UBS planning on raising to street for an2 (125k)?
Delete
UBS
ANL 1
Coverage
Mid bucket
Bonus : 40k
Disappointed but also not heinously terrible I guess...
Bump
Cowen Analyst 2:
Base: 125k
Bonus: 105k
Promotion bonus: 40k
Expected associate 0 stub bonus in December: ~$65k based on past data points
2024 all in: $335k. Cowen is truly paradise. Think this comp is awesome for how decent the WLB here is.
WOW! do you know if TD is similar in terms of comp?
Also are you cov/product?
coverage. Same on TD side from what I've heard
Congrats. Is Cowen/TD a 2 yr analyst program now?
2 years. 3 years if you have really poor relationship with your team, which is also their way of telling you to leave. 3rd years are rare though.
Do you know anything about TD DCM pay?
Pretty similar numbers across board
seems like Cowen was tad higher than td proper which is odd and kinda annoying
an1s seem to have gotten screwed tho
are you in one of their top groups?
Pay at analyst level is consistent across groups. When you hit associate, that’s when group really matters. As an analyst your goal is to be in a group that doesn’t make money (weak deal flow) so you can work 9 to 6 while making $270K all in. After hitting associate, switch to a top group to maximize bonus.
can you share what your WLB is? Those numbers are great, congrats
Deal sprint = 80 hours; no deals = 30-50 hours.
Most people here travel on Fri - weekends without having to take PTO. A handful WFH / travel from Thursday night to Monday evening given we don't have strong deal flow and WFH on Mon and Fri.
I heard some people got lower numbers than this, was this top bucket?
Heard some folks getting 95k too, so I assume that there is a +/- 10k variance. All promoted people are top bucket anyway or they would've been laid off
Wow that’s crazy. Are these middle bucket numbers?
Wow that’s crazy. Are these middle bucket numbers?
Wow that’s crazy. Are these middle bucket numbers?
Wow that’s crazy. Are these middle bucket numbers?
BMO
First-year
Mid-bucket
23K (disheartening, trash bank)
Sorry bro..
UBS
AN1
Top bucket
£38
UBS (former CS)
An1
Top bucket
57k
wow UBS did pretty well honestly??
Anybody got (december) numbers for centerview?
Bump
UBS
Coverage
An1
Top bucket
$57k
got any London numbers? I am finalizing comp for the team next couple weeks (we have our own deal so we set comp independently to the bank). I have good benchmarks for the US but not UK. I also trust this source more than my highly competent partners in Human Resources.
See above my reference in £
Helpful. Thanks. Has UBS moved their base up or is it still 65k GBP per my files (which are a bit dated)?
Bump
Bump
RBC anyone?
A+ response
Bump
All I know is that Lina Khan is fuckin up my bonus this year
Still nothing from RBC or DB?
Anything from Barclays?
RBC total comp was flat to slightly up. Bonus was down a touch but base went up a little higher than bonus went down. Think most people are neither elated nor depressed, mild relief is probably prevailing sentiment
What was Analyst 1 and 2 numbers?
only have as2 - $80k top bucket
Barclays anyone?
bump
Barclays anyone?
When do they come out?
Any numbers for Asian offices?
TD
Analyst 2 - being promoted to associate
$95k
A bit disappointed since I thought it would be over $100k but not bad overall compared to the street.
My associates are all pulling 100%+ bonus regardless of their performance. The best one got $250k as associate 2 earlier this year. VPs are getting $700-$900k all in guarantees to come here.
I don’t know if my bank actually gets so much revenue to support this cost base but I’m happy with it
Super-constructive. I'm a D1 at a larger bank and I don't expect $900k or even $800k. If I got $800k as a D2, I'd be happy. I think you're right to question the sustainability of such payouts. TD is in growth mode and is making a lot of credit commitments; once senior management at TD starts expecting to see ancillary revenue from all the b/s work, elbows will get a lot sharper on comp / promos / layoffs.
.
When are bonus numbers supposed to start coming in for the majority
Mostly in the next two weeks
WF is tomorrow, how all my Wells boys feeling?
Bank didn’t bucket and did bonuses based on groups so a little bit annoying how it wasn’t related to performance
So like every 2nd year analyst in industrials got the same bonus?
Yeah. Worst performers were cut and everyone else got same in group, though +/- $15k differences across groups in a way that doesn’t seem to match group revenue
What bank is this?
Any numbers out from PJT, PWP, Moelis, Gugg, CVP, Evercore???
Liontree anyone?
BofA anyone ?
Have friends there in London and I heard better than last year and generally satisfied but no precise #
Still no news?
This is agonizing - just want to know so I can cut the final thread and move on from the last 2 years
When does MS come out?
Associate here at WFS. Analysts here got screwed..$15k for Analyst 1, $25k for Analyst 2...middle bucket. Assume Associate bonuses will be bad too in a few months....
That doesn’t sound real.
Totally false…. Mid bucket is around 50-55 for analyst 1
Why lie?
Not sure what group you’re in, but this couldn’t be more wrong for coverage.
A1
Top bucket ~60-65k
Mid bucket ~50-55k
A2
Top bucket ~85k
A3
Top bucket ~120k
Heard BofA bonuses were decent. No specific numbers yet but seem to be on par/slightly up from last year and analysts sound satisfied given the low bar from the shit associate pay.
Lmao BoA analysts getting the same or higher bonuses than what their associates got… that’ll be a fun Monday team meeting
any datapoints for BofA?
Heard anecdotally that 2nd year analyst ME’s (middle bucket) received ~70k in coverage. That’s on par with what middle bucket associate 2’s received lmao.
Happy for the analysts, but my goodness wtf is this bank doing
Top bucket at BofA for Analyst 1 and Analyst 2 was ~$75k and ~$110k respectively. Middle bucket ~$60k and ~80k. No word on bottom bucket yet.
110 is absurd
Cap
This is accurate
110k for EM or EE?
For EE. For MM (bottom bucket), Analyst 2s received ~45k.
BofA Top Middle (EM)
1st year coverage
$70k
Rothschild & Co
Bottom buckets were all canned
middle bucket was 55k
top bucket was 75k
They only did middle and top this year?
Even bottom bucket An1s? Was it a significant group?
.
What is it for AN2
Anyone hear back on Jefferies yet?
JEF notifies analysts mid-August. Normally after interns leave.
And when does it pay out?
Barclays reports this week. Will be very interesting
what day?
When do numbers come out?
Rothschild
AN1
Top bucket
$75k
Bump
Bump
Bump
bump, any updates?
MS bottom of street once again
What were analyst numbers??
Bump
MS stinks once again for another year
An1 bonus?
MS is out
What were numbers?
Bump
AN 2
Upper middle
~$65K Bonus ($125K Base)
Not bad.
Yea also leaving to PE so with that considered wasn’t bad… not as good as BofA though
Anything from first years ?
Can confirm accuracy here
bump but for actual numbers and not arbitrary comments like "MS shit"
Bump but for actual numbers and not arbitrary comments like "MS shit"
Bumping
Any Barclays info?
Got a text from my that said drinks are on him tonight, so I assume they were higher than expected
Any color on numbers for analysts?
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