Any word on this upcoming bonus season? Particularly curious if any insight on Citi but welcome feedback on other banks if folks have heard anything
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pretty sure the only insight anyone has right now is 'lower than 2021'.
Fees are down 50-60% across the street. RBC posted a loss this quarter for GIB. The real question is how bad will bonuses be this year
question is how they will bifurcate the capital markets slowdown vs m&a in terms of coverage / product. If you're on a team that does a lot of (or exclusively) M&A, you're having a down year but certainly not hugely out of line from prior to COVID. If you're in LevFin or ECM....well, you know.
It is hugely our of line compared to pre-Covid levels. Numbers are propped up by a few monster deals.
I think there will be an even larger than normal spread between the m&a shops and BBs. I expect the BBs to be rough.
This. I’m at an M&A shop, as you say, and our revenue is only down about 20%. Even with that, our revenue per banker is still amazing, so I don’t expect it to be too bad.
$80k to $110k is my guess for BBs
With where profits are at, I think your username says it all
NY EB
Hearing 200sh for As1
EB from what I'm hearing is $170K-$200K
People posting $150-200 for aso1 give me hope. I’m at a top mm and they’re already bracing us for disappointment, even after a good year (relative to pre-covid).
Delusional. Most BBs were nowhere close that for last payout. Wasn’t Citi like $90k?
baird fires a ton of people near bonuses and only other high paying MMs are Guggenheim + Blair
I certainly don’t expect those numbers.
@high hopes
Citi A1s (class of 2020) got $192k for top bucket. Lowest was $32k but generally a majority of folks got $125k+
Re: firing around bonus, what makes you say that? It was a one off during COVID
Any intel on stub bonuses or should we just be happy we have a seat at the table this year?
I’d guess they’ll be normal. $35-45k. Higher at EBs.
MM bank. Will be 350-500k for Associate 1
Which bank? That’s also a ridiculous range. Not sure any big bank paid aso1 $500k last year.
HW
Ubs/db: we are expecting 250 to 350k AS1 bonuses
Are you a troll?
These are my predictions for BB bonuses:
AS0: 25-40k stub bonus
AS1: 90-125k
AS2: 130-150k
AS3: 155k-175k
Expect a massive gulf, more than usual, between BBs and EBs this year. 3Q earnings just rolled out
EVR Advisory only down 5% YoY YTD
PJT Advisory up 12% “ “
Lazard Advisory up 7%
Moelis/ PWP earnings in the next week
This feels right. People are anchoring to absurd numbers from last year and bound to get disappointed
BBs are gross. I can’t imagine being an AS3 and making like 385k all in. Say 25k of that is stock, then assuming 401k, healthcare, and taxes, and you’re like bringing home $180k after-tax cash. To live a decent life in NYC and have a little fun you’re likely spending $80-$100k/yr, assuming you have no student loans or other debt, so at most people will save ~$100k? Completely demoralizing.
don't forget most of the AS will be living in midtown Manhattan close to work which most of that money will be on crazy rent.
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