$250k associate (A2) comp - street?
An associate contact (2nd year) says his all-in comp was $250k cash, is this on part with street? High? Low?
Thanks,
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mid-high
Given the recent news, I don't know if that's necessarily true. Many banks capped their "cash" compensation to $100-150k.
No, BB associate. FYI he doesnt know what bucket he was in
i know another A2 who made more or less the same ($250k all in) for 2010. Is this amount at street for that year, or still slightly above? Trying to gauge the comps of their respective BB`s vs. each other/the street
I think people would be pretty pleased to have made $250k as an A2 in 2011.
MS capped cash bonuses at 150, but BAML capped it at 150 IF you made over $1mm (per bloomberg).
A2 salary would be 140-150, + 100-110 cash would not be out of the question at all.
After taxes and a 1-BR in Manhattan, what is that anyway? like $120k for all your lifestyle expensives and then whatever's left goes into savings?
That is definitely believable. Given that most second year associates have a base of $150, this implies a $100k cash bonus, which is actually on par this year depending on the bank. Most of my A1 friends reported anywhere from 80-100, so I would expect A2s to receive 130-150 for an all in comp of 280-300. Bonus deferrals kick in above all in comp of $250, so this is realistic assuming a 15% or so deferral.
With regard to the most recent comment, I can give you a quick breakdown of what you actually spend. I currently pay around 3k for my apartment, go out with friends when given the opportunity, don't necessarily blow it out or conversely skimp on too many expenses, and I spent most of my $100 base this year (I'm a stub associate). Of course student loans just kicked in, so now I will still be basically break even even though my base is $120-130 (sorry for not providing an exact number, but I want to keep my employer confidential).
Just an FYI, a $100 base translates into roughly $5000 a month in take home, assuming 5% 401k deferral.
@outsidebanker, are you at a BB as well? I thought 125k was the standard A2 base, not $150 - but I guess I'm mistaken then...
Yeah, I am at a BB. Just to clarify, when I was saying A2, I was referrring to someone who had just completed their second full year at a firm (2.5 years post MBA) I just finished up my stub period, so we had been referring to ourselves as "stubs", which in my mind translates to A0 by this scale. I am just starting my first full year, so this makes me A1 now. Sorry if the WSO terms differ now days...haven't been on these boards for a few years. Until this year, the pay scale had been as follows: Stub: 100 A1: 125 A2: 150 A3: 175
With the recent announcements, some banks are moving toward 100-120-140-160, although some are keeping the old scale.
welcome back outside banker, thanks for the info.
Thanks outsidebanker, very valuable intel. I know of at least one big bank that didn't give Stubs a salary boost to A1.
I'll be graduating from b-school with hardly any debt so IB does have its appeal in terms of building up the bank account, but naturally the new environment we're in makes it less attractive.
Which bank didn't give any salary boost to stubs?
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