BB Associate Base Salary
Heard rumors that some BB's have raised base salary for starting associates to $175k. Any truth? If so, which banks have made the move?
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From what I know, associates just got bumped up to $150k (BB) a year or two ago, doubt there is/will be another one in the near term future.
1) a lot of BBs held back summer associate offers 2) deal flow and everything in general is down and may continue to be supressed.
There could be EBs that pay $175k although I don’t believe that is the norm even for EB standards.
Confirming $150k base is norm in LA. Not sure I’d say M&A deal volume is down.
Base is $150 for associates, as a summer it was prorated.
No news of $175k base as a first year at my nyc BB
Baird pays $175K base to Associates, but that is because their comp structure is slightly different from the norm. $150K is the standard right now and likely won't change for a while.
I would be interested to learn what base for associates is at EVR/CVP/PJT and some others like Laz/MoCo
MoCo base is 150 for As1
Last year for them was 170-185 for Class of 2020.
Have heard second-hand that only EVR pays slightly higher (~$160K), and the rest of the EBs have held at $150K, with bonuses naturally higher than BBs by a decent margin. If people here could confirm, that would be awesome
Confirmed.
It’s pretty much 150/150/175/200 (A0/A1/A2/A3) across all MM, BB, and EB. Only outliers are Baird at $175k across all associate years (all-in comps to other MMs) and Evercore is $10k higher at each level.
Thanks for this - super helpful. What would the difference be in bonus at, say Morgan Stanley, vs. a Moelis or PJT, for example? I know of the general BB vs. EB all-in differences, but seeing how large the difference would be at a top-BB (GS, MS, JPM), assuming mid-bucket
Have many friends at top BBs and EBs and I can tell you it's a significant difference. Upwards of 100K difference at the A1 level and that gap only increases later on. For all you monkeys doing banking for the money go to a CVP/PJT. Go to GS for the brand name.
Bonus differences at mid bucket are around~35k at stub, ~50-65k year one and I’m hearing 90k more for year two as some numbers have trickled ourt. As an associate alone I would expect to make at least 250k more in those 3.5 years at EVR/PJT than I would at GS/MS. It’s significantly large difference and usually comes with better job security.
Wow, thanks guys - heading to an M7 this fall, so super helpful to know. SB'ed both :)
i think Guggenheim is also 160k
Some MM banks have moved to a $175k base for Associates - but it stays at that level for each Associate year and total comp is adjusted via bonus only.
Who does this besides Baird?
Guggenheim pays dam well. 175 base
Does anyone know what Credit Suisse's base salary progression is post-MBA?
150 / 175 / 200 / 200 (A0 / A1 / A2 / A3) or 150 / 150 / 175 / 200 ?
Believe its the latter
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