Banks With Best Senior Comp
What banks (BB and EB) have the highest paid senior employees, specifically MD? I'm aware that it varies with performance and deal flow, but do MDs at banks like Goldman and Evercore trump their counterparts at Deutsche and Oppenheimer, assuming similar performance?
The best comps for senior bankers are often found in smaller boutiques that selectively work on massive deals. Why do you think senior bankers leave BBs and EBs to start their own boutiques? Usually to gain better control and comp.
I’ve heard from some MDs that they often make the most money going downstream to a “worse” bank, where the bank is desperate to land them. for example, a big dick at Goldman might get an enormous offer to go work at a place like Gugg, with Gugg offering higher comp rates than the MD would get at Goldman. That’s why you often see big MDs jump ship to go somewhere else or start their own firms. I think overall, EB>BB in general for MD comp, but it also matters a lot about the firms structure. A private firm will pay higher than a public firm because they’re usually partnerships. Heard anecdotally that MM places like Blair/Baird punch way above their weight class in comp once you make partner because you’re getting a chunk of the firms profits rather than a salary.
While comp is important, the senior bankers I've spoken to at EBs say that the more important thing is how much control they have over their fiefdom. More banking, less paperwork.
I've heard similar, while comp is important I've found that a lot of MDs value freedom to operate making it not uncommon for them to leave the bureaucracy of the BB for the smaller firms.
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