Banking salaries in different cities
Banks recently bumped IB 1st year analyst to $100k. Is this for New York City and California locations, or can I expect the same in Houston or Charlotte?
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If it’s a larger bank and not a one-off boutique, yes pay is the same. You will be a richer man in a LCOL city unless you fall for the NYC hype.
Yes they’re firm wide. Sometimes you get little shave on the year end compared to Ny but you’re still making way more
Are bonus brackets at the AN/ASO level the same across offices for large firms like BBs and EBs, assuming office deal flow didn’t vary that much?
Those bonuses may be slightly different, but it's either way more than made up for by the COL difference.
BB salary raise is firm-wide, though limited to IB groups usually. Sometimes includes CB groups depending on the bank
I know personally that some locations pay different salaries. For example, NY IB salary for my BB is 100k now and our offer letters were ~80k. I’m in an extremely LCOL area tho (like lower than Houston and Charlotte).
SLC? Lol
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