Analyst Bonuses
Does anyone know when bonuses come out for analyst at BB banks. (GS,JP, MS, BofA, etc) I keep getting different answers.
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Based on the most helpful WSO content, bonuses for analysts at Bulge Bracket (BB) banks typically vary by firm. Here's a breakdown:
Summer Payouts: Most BB banks, such as Goldman Sachs (GS), JP Morgan (JP), Morgan Stanley (MS), and Bank of America (BofA), generally pay out bonuses in the summer, around June or July. This aligns with the end of the fiscal year for many firms.
Exceptions: Some firms like Centerview, Barclays, and UBS are known to pay bonuses in January or February instead of the summer.
The term "stub bonus" often confuses new analysts. Analysts typically start in July and hit the desk in August. If bonuses are paid out in June/July, it reflects about 10-11 months of work, which is why it's not considered a full-year bonus.
For more specific timelines, it’s always best to check directly with your firm or team.
Sources: When do bonuses get paid out for BBs/EBs?, FT: Goldman WRANGLES over whether to pay juniors higher salaries, 2023 Consolidated IB Analyst Bonuses, 2023 Consolidated IB Analyst Bonuses, How bad are things going to get?
Curious what they were as well
Because they come out at different times depending on promotion cycles and starting dates.
Generally most banks start IB analysts mid-year and therefore you get bonuses mid-year. But this changes in the year you get promoted to associate and you move to the start-of-year promotion cycle (which is when everyone else in the bank gets comp/promos). Then you get pro-rated/stub bonus at that time (since you would've only worked ~6 months since the last bonus).
Also potentially causing confusion is that some banks start other FO divisions/certain teams at different times. E.g. some will give S&T/Research analysts bonuses at the start of the year.
Anyway you needn't concern yourself with this until you actually get a job.
I am already in the job..
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