Baird in 2021 - Hours & Comp?

Any updated insight to hours and compensation at Baird's Chicago office?

  1. Does the firm's protected Saturday policy (apparently legit) effectively force analysts to work longer hours during the week? Are 2 AM to 3 AM nights common?

  2. What does Baird pay for signing, base, and mid/top bucket bonus historically? Does it differ across groups? Any fringe benefits?


You will get rocked. Big propaganda around caring and being the best lifestyle shop, just wait until you get there lol. 2am standard log off, 3am regularly, 4am every other couple of days (allegedly).

Industrials is worst, T&S really bad too, Healthcare bad, consumer is lifestyle. So basically Russian roulette with 3/4 chambers loaded (allegedly)

Are exits there at least and does comp stack up to to blair / hw 

Don't do it. I have a number of friends who worked in their Industrials group and it seems like a total sweatshop shop.

Have a friend in their tech group. His WLB is worse than my friends at Moelis, PJT RSSG, and every other sweaty group you can think of on the street. He works until at least 3am every day with very limited exit opps. He has become completely disgusted by IB after having interned for a different MM and liking it a lot. Would avoid. 

Multiple hospitalizations in every group. Rumor is that this was the first year that the MDs had target fees to hit and Baird went from winning ~50% of their pitches (selective) to pitching everything under the sun and losing. Was an absolute nightmare, the bank is severely struggling to retain talent and they are not a "lifestyle" shop by any means. Anyone who isn't in consumer and says Baird has a great culture is either A.) the VP who called me at midnight on a Friday to tell me how much he makes or B.) lying to you about the culture. I can't recommend anyone come here, hours are bad and you're not rewarded with exit ops or comp.

What would you say explains the firm's strong A2A retention? Seems like it's slightly higher / in-line with other MMs. Surely people aren't crazy enough to stick it out beyond a 2 yr stint.


Those numbers should and will come down. Historically I'd say that they definitely recruited the right type of individual that wasn't recruiting from day 1 (the midwestern kid from big 10 schools). Comp at associate there is really attractive for Chicago / MKE ($175k base) with all cash bonus. Recruiting for PE/exits is a big no-no there, really got to keep it quiet which makes things difficult.

With the drastic change in lifestyle, you will see more normal attrition. Hard to take a LMM PE job and effectively leave $100k on the table to go that route vs staying on at Baird as an associate.

Makes sense, this is helpful. +SB

Sounds like consumer is somewhat bearable and industrials is the most brutal. Would you say tech & services or healthcare is worse? Any major differences in comp or exits across the groups?


Need to add on to how bad it has gotten there. A number of people from my school used to go there every year. Over the last few years, nobody has recruited there because of how badly the analysts have it there. Every analyst that I’ve spoken to there hates the place. Does not sound good. 

Protected Saturday policy is a huge fucking joke and most people here, especially in Industrials and Tech are consistently pulling 3-4am nights. I would advice people to stay away from these two groups. HC and consumer might be slightly better. Comp at analyst level sucks compared to places like Blair.

Lower bonuses, A1 base is 95k. Starts at 85 if you're right out of school but jumps to 95 after your first bonus cycle (Feb)

In all honesty, I think Baird sounds much worse than Jefferies Houston. Jefferies Houston has been killing it in the energy game, pays above street, and had great exits when they used to be a thing in energy (MF was very possible from that group). Have also heard the culture has improved and that they have introduced protected Saturdays. 

I've heard it's gotten pretty bad. B school buddy says they over-fired for COVID then boom activity skyrocketed and they are scrambling.

That being said, I know that in prior years there were groups that took the Saturday policy very seriously because I hung out with associate friends relatively frequently. Bonuses feel somewhat light but are all cash and a higher base so call it a wash, especially given low COL areas.

Hope they can right the ship because they do strong MM work but need to hire more bodies to manage the deal flow ASAP.

Unfortunately don't have hard numbers but pretty surprised by the above poster saying top bucket was 75, because I know for a fact in 2019 there were AS1 bonuses over 100 for sure (this is in addition to the 175 base) so pretend it's equivalent of 150 + 125 except it's all cash which is very much in line with street if not a touch better.

Any place seeing record deal flow like Blair and Baird are going to have rough hours. The difference is how well can these firms hire to adjust or are they going to wait it out with a leaner group.

I wouldn't say any of these top MMs are known as lifestyle shops but that some have fewer d-bags during the rough hours and people tend to stick around.

Have a few friends at Blair and Baird. Both have absolutely horrible hours and their top groups, industrials at Baird and Tech/HC, work past 2/3am most nights. However, culture seems to be far better at Blair than Baird. Everyone I’ve spoken to at Blair that was A->A wanted to stay on whereas at Baird they stayed on because of limited exit opps. 

This seems to be a brand-new talking point re: Baird exits and culture.

Past experience and threads have all highlighted pretty decent ones, in line with other top MMs, maybe a touch behind Blair. Have things shifted recently? Hard to see why they'd be different considering they work in the same space.

Also, is this office specific? MKE vs. CHI? Differs from my interactions w/r/t culture being bad (bad hours but good people).

Similar story at hw, long hours (not hospitalization level though), good deal flow, but at least the exits are there and there’s no culture of hiding abt recruiting as it’s actively encouraged

I currently work at Baird. I would say that there is definitely a lot of truth to this thread, but also a lot of rumor / hearsay. Yes, the hours are about on par with what has been discussed 9-3am is most analyst /associate hours. On the protect weekend, Baird recently extended the protected period to 7pm on Friday-10am on Sunday. I would say the vast majority of jr bankers do not work over the period, especially in the last month or so since the extended protected period.

Thank you, this is very helpful. +SB

Can you comment on any of the following:

Pay, Exit opportunities (major differences between groups?), Pre-COVID Fringe benefits (Ubers back home, meal stipend, etc.)


This makes me feel better that I still haven't heard back after my first round for their SA roles. Thank you. And is this for their CHI office?


I think there Saturday policy refers to their lower tier jobs that aren't PE or IB. My school is a few blocks away from Baird, they hire a lot of people for their shitty Corp roles that I think they promote the benefits to IB and PE that wouldn't apply (in terms of hours on the job).

The non-IB roles are all Mon-Fri, 9-5.  The Saturday policy is for bankers and was highly protected prior to COVID, but the bank way overreacted to the COVID slowdown and let go of 25% of their bankers (mostly all associates and a some VPs) and the Saturday policy went out the window

Very disappointing to read this bc they constantly spewed this "our culture is our biggest differentiator" and "always protected saturdays" BS to everyone at our school during recruiting events. We all believed at least the second one was true lol.