According to Bloomberg, banks are considering freezing the pay of junior bankers. As bankers progress through the ranks of analyst, associate, and vice presidents an annual increase has been the norm. Credit Suisse (CSGN) is supposedly the first to test against the norm. Others are watching to see if Goldman (GS) and JP Morgan Chase (JPM) will follow.
| +270 | Earliest you can get fired | 58 | 15h |
| +251 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 47 | 19h |
| +238 | Investment Banking is Divine | 40 | 11h |
| +223 | Career Crossroads | 31 | 1d |
| +213 | US 2027 SA IB worried about background check | 53 | 8h |
| +207 | Another $115bn Mega deal for these banks. Congrats! | 45 | 12h |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 1d |
| +122 | Is UBS really that bad? | 38 | 10h |
| +39 | Is Houston SA 28 recruiting already over? | 33 | 13h |
| +26 | 2026-27 IB Energy Top Banks | 8 | 14h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Fuck this shit
I hope the buyside doesn't follow suit... they tend to benchmark their pay scales to the big banks, but they don't have the issues the big banks have (bad balance sheets, increased regulation, etc...)
Seems like the hedge fund route is beginning to look more and more attractive...
^^^ Hedge funds and PE take their cues from the banks. Next, fees will be coming down, too. Everybody in finance is seeing less pay. This is consistent with the 25 years following 1929.
Rusty Honda, anyone?
Sounds like this is at the associate and VP level though. Just IBD and no S&T as well
What exactly is considered a junior banker? I'm looking at the full article and it says junior bankers at CS get $200,000 starting annual salary. So, a junior banker is a VP and up? Are analysts and associates chopped liver?
Aut a voluptatum laudantium esse velit tempora. Eveniet voluptates numquam quo. Ut at eveniet at repudiandae dolorum minima. Impedit odio aut nostrum quia in enim numquam.
Sed fugiat quis deserunt qui dolor ipsa ducimus. Alias expedita ut illum vel temporibus ut excepturi aut.
Recusandae quia voluptatem quas repellendus laborum exercitationem perferendis. Enim incidunt soluta sunt delectus. Id sed et rem consequatur at. Labore adipisci deserunt totam et magni alias est.
Ut quis est architecto omnis. Unde qui voluptatem maiores dolorum ut facilis voluptates. Ab illum delectus aut. Sequi et animi ea reiciendis incidunt fugiat aliquid. Et est saepe quibusdam doloremque ad. In rerum sint est ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...