Analyst Pay Bump Updates?

Just wanted to compile and refresh the banks I know that have raised analyst base. Am I missing anything?

New Truist 87.5/92.5/97.5

CS-90/95/100

HSBC-90/95/100

Mizuho-90/95/100

HL-90/100/110

RBC-95/100/105

BAML-95/105

New JPM 100/105/110

New Harris Williams 100/105/110

Gugg-100/110/125

Piper-100/115

Roths-105/115

Comments (299)

Jun 23, 2021 - 11:45am
monkeeeeyD, what's your opinion? Comment below:

Bump

Array

  • 1
  • Intern in IB - Cov
Jun 24, 2021 - 10:57am

CVP blew a lot of them out of the water and roths updated their base (MM though). So maybe?

  • Intern in IB-M&A
Jun 29, 2021 - 5:13pm

surely with this number of firms increasing they have to respond with something ?? 

  • Analyst 1 in IB-M&A
Jun 23, 2021 - 6:39pm

I feel like for banks that only raised base to 90, its pretty easy for them to slyly keep total comp the same. cant imagine anyone would be happy at gugg for example if they got 15k lower bonus though

  • Analyst 2 in IB - Cov
Jun 23, 2021 - 8:53pm

My guess is that some banks are going to try this and then have high turnover.  some banks are going to realize that it is a low cost really at the end of the day and pay more.  

Jul 4, 2021 - 5:22am
TheBuellerBanker, what's your opinion? Comment below:

Most banks measure on total comp rather than bonus being a percentage of base so yeah, I'd anticipate lower bonuses to make up for the lost cash with the higher base salaries. If not and I stand corrected then big congrats on that.

  • Analyst 1 in IB-M&A
Jun 24, 2021 - 6:42pm

lol thats so obscure but good for them

Jun 24, 2021 - 8:35pm
ywquiwyqo, what's your opinion? Comment below:

Is this for incoming FTs across all cities? Can't seem to find anything about this. Just two people on another post regarding Truist said analysts got "six-figure bonuses" you can probably find the post it was from today. Not sure what is true at all now. Thank you.

  • Analyst 1 in IB-M&A
Jun 30, 2021 - 8:24pm

Seriously! Like wtf is going on with BMO?

  • Analyst 1 in IB - Cov
Jul 7, 2021 - 3:09pm

Heard that they didn't move base but will scale through bonus RIP

Jun 24, 2021 - 6:50pm
J_24, what's your opinion? Comment below:

MS needs to take one for the team and increase base pay so that JPM/GS have to follow - JPM outright said they wouldn't and we all know GS cheap ass isn't gonna do anything if they don't absolutely have too. 

  • Intern in IB - Cov
Jun 24, 2021 - 7:28pm

I feel like if top banks can continue attracting talent without raising pay, why would they. I hope all pay is raised but the biggest name to do so thus far is either baml or guggenheim. I remember in one thread someone who worked at Evercore was told by leadership that they don't index against baml so no reason to raise pay, it's dumb but it's true. 

  • Intern in IB - Restr
Jun 26, 2021 - 5:05pm

theyre losing a ton of top talent at wharton at least... most would 100% prefer EB 

  • Intern in IB - Cov
Jun 24, 2021 - 8:39pm

Any salary bump from Blair?

  • 4
  • Incoming Analyst in IB - Cov
Jul 15, 2021 - 5:49pm

Nomura just bumped base to 100 for first-years.

  • Analyst 1 in IB - Cov
Jun 24, 2021 - 10:58pm

Tobin & Co?

  • Intern in IB-M&A
Jun 26, 2021 - 11:49pm

0/0/0

  • Intern in IB - Restr
Jun 26, 2021 - 12:19am

so interns not getting the increase? letter says 85, is that something that will be updated?

  • 1
  • Analyst 1 in IB-M&A
Jun 26, 2021 - 11:50am

Ik for most, if not all, associates are getting bumped to 175/200/225

  • Intern in IB-M&A
Jun 26, 2021 - 11:05pm

HSBC is incorrect

  • Intern in IB - Cov
Jun 27, 2021 - 12:03am

They're still at 85? There was another thread where people said they bumped to 90

  • Analyst 2 in IB - Cov
Jun 28, 2021 - 2:16pm

Does anyone know if there has been an increase in base at Baird? Been trying to lateral there

  • Intern in IB - Cov
Jun 28, 2021 - 2:55pm

Don't believe so. Someone in another baird thread said that it will occur in the next two months

  • Intern in IB-M&A
Jun 29, 2021 - 9:22am

I hope so man, us markets guys drove most of the revenue last year and got worked hard too

Jun 28, 2021 - 7:56pm
chiefchirping, what's your opinion? Comment below:

How did they announce this?

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  • 1
  • NA in IB - Gen
Jun 30, 2021 - 11:34am

So I won't argue about evercore losing its luster, but how much do you guys actually think it's JW versus the effort to grow the bank well beyond the size of other independent advisory firms (boutique seems like a silly way to describe evercore now)? Was that growth target really from JW or was it kicked off by RS?

Just interested for discussion purposes. 

  • 2
  • PM in HF - EquityHedge
Jun 30, 2021 - 9:51pm

It's JW. Rolling out tried-and-true GS playbook of leveraging brand equity / prestige to lower comp. There's probably a cult-y, Stockholm-y, reason why, since raising junior pay back to top-of-street would have a minimal impact on headcount or topline. 

  • Analyst 2 in IB - Cov
Jun 29, 2021 - 10:25am

This is why you always use multiple comps

  • Analyst 2 in IB - Cov
Jun 29, 2021 - 4:49pm

JPM is a fine bank in any group, jsut focus on getting an offer and then you can make another post asking which offer is best. 

  • Intern in IB - Gen
Jun 29, 2021 - 4:51pm

I have a JPM offer and after speaking to contacts would most likely get M&A or HC (although very competitive and a risk). I also am waiting for GS which should be coming in July. 

Thus, would people take JPM over GS/MS?

  • Prospect in PE - LBOs
Jul 2, 2021 - 3:49pm

No. People still wouldn't take JPM over MS / GS. 10-20k during your analyst years is nothing. I can guarantee that MS / GS is going to follow the street in base pay. 

  • Analyst 1 in IB-M&A
Jun 29, 2021 - 2:31pm

Any views on whether PJT / Moelis / Evercore will now raise? 

Surely they will feel pressured to match new guggenheim / Rothschild base? 

  • Analyst 2 in IB - Gen
Jun 29, 2021 - 5:27pm

Moelis base has always been lower than PJT / EVR at 85 fwiw, though 85 was street and the bonus range averaged higher than BBs

  • Analyst 2 in IB - Gen
Jun 29, 2021 - 3:40pm

Anyone think Blair/Baird will follow?

  • Analyst 1 in IB - Gen
Jun 29, 2021 - 4:47pm

Baird is apparently having a call to discuss comp (source from another thread), but I imagine with JPM making a move, BBs and MMs who index against "street" pay will eventually follow suit. Especially since Blair prides themselves in paying "above street", I can't imagine them not eventually caving and matching base bumps. Not sure the implications for total comp though.

  • VP in IB-M&A
Jun 29, 2021 - 5:42pm

Any idea if firms are changing their Associate 1 promotion bonuses or are they staying at $40k?

  • Analyst 2 in IB - PubFin
Jun 29, 2021 - 5:54pm

I'm an AN2 at RBC, but haven't heard anything from mgmt or about junior pay increases, despite being on the list. Anyone in the same boat?

  • Analyst 1 in IB - Gen
Jun 29, 2021 - 9:49pm

I believe I saw some post earlier about Nomura raising base salary but cannot find it. Can anyone confirm this?

Incoming analyst here.

  • Analyst 1 in IB-M&A
Jun 29, 2021 - 10:17pm

SMBC 1st year analyst is $85k base + $10k signing bonus + yearly discretionary bonus (unknown amount).

  • Intern in IB - Gen
Jun 30, 2021 - 1:24am

Wasnt DB the only BB that didnt pay full salary of 10 weeks prorated for interns last year lol? Pretty sure it was like 4 or 6 weeks.

  • Analyst 1 in IB - Gen
Jun 30, 2021 - 11:06am

Barclays confirmed 15k pay increase to base for analysts worldwide, 25k increase to base for associates 

Jun 30, 2021 - 11:08am
Tranquil-Paradise, what's your opinion? Comment below:

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  • Prospect in IB - Gen
Jun 30, 2021 - 11:29am

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Jun 30, 2021 - 11:36am
Pizz, what's your opinion? Comment below:

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  • Intern in AM - Other
Jun 30, 2021 - 1:00pm

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  • Analyst 1 in IB - Cov
Jun 30, 2021 - 7:23pm

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Jul 1, 2021 - 11:00am
steve.sarkisian, what's your opinion? Comment below:

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  • Intern in IB-M&A
Jul 2, 2021 - 3:12am

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