The big question on everyone’s mind: As a % of salary, will bonuses decrease, increase, or stay the same at the banks that just recently announced salary increases.
Historically, bonuses have ranged from ~50% (bottom bucket, weak bank, weak group) to ~100% (top bucket, strong bank, strong group) of base salary at BB and MM firms. That would mean $150K - $200K total comp for banks that just raised to $100K for first years.
As people hear, feel free to leave here. Consider it an archive to look back on after official bonuses are given out - and a way to hold the Big Man accountable.
Yeah interested about this as well. I feel unless the banks specifically stated the all-in will be effectively the same, it’s probably reasonable to assume that the gross bonus will be similar to previous years. But tough to say for sure.
wouldn't make sense for all-in numbers to say the same if these salary bumps are supposed to attract and retain talent. People are gonna figure it out as soon as bonus hits next year...
True but that’s next years problem. The banks needed to respond to the GS13 and this move was genius. I hope total comp goes higher but I wouldn’t be shocked if bonuses come in low.
from looking at old threads it looks like total comp hasn’t moved much in the past 10 years. Only salaries increased.
I think maybe the reason they'll justify shortchanging the bonus is bcuz now you'll have a greater % of your total comp guaranteed whereas a lower base + higher bonus is higher risk & therefore less desireable
Not to mention all of the new hires that most large banks seem to be trying to put in place as a result of turnover; read: JPM IBD co-head saying the only way to fix burnout is by massively hiring more analysts.
Yeah ppl I randomly caught up w are at JPM , lots of lateral hires even at ASP/Vp level it sems
AN1 finishing first year at an industry boutique (Greentech, Liontree, etc) that bumped base to ~100k (being non-specific to maintain anonymity), been told firm is looking keep bonus % range the same (70% - 110%).
nice
I work at a MM bank (think Blair, Baird, Piper HW) and was told that total comp should not change meaningfully, and the base pay increase was really moving comp from bonus to base.
So not Blair. They haven’t raised salaries.
Not hw since we weren’t told that
At this point might as well say if you’re at Baird or Piper haha
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