After a record breaking year, bonus season is upon us.
Wanted to get a thread going to share what banks are paying so we can see which banks are low balling the juniors.
If you guys got your numbers, please disclose in the following fashion:
- Bank (Specific Bank Disclosure Encouraged)
- Group (Coverage, Product, etc)
- Position (Analyst 1, Analyst 2, Associate 1, etc)
- Rating (Top, Mid, Bottom)
- Bonus Amount (For BB let us know how much of that is stock)
Look forward to hearing from all of you!
Following
Following
Following
Following
FYI the app / website has a subscribe to thread button
Follow
Just got my number so I'll kick it off.
- Citi
- Coverage
- Associate 1 (not stub)
- Mid bucket
- 115 (25% stock, brings me down to a 86k cash bonus)
Record breaking year, and got the same median bonus as prior years...
Are you serious?! That's an insult.
Why are juniors getting stock…
I’m surprised too
jesus
jesus
wow that is awful lol, I know 2nd yr analysts getting more at other mid-tier BBs
That’s right. Second year analyst 130-150k bonus
ew lol
Yikes….what city?
Woah, isn't that ~66% of base? (assuming $175 base)
- Location: NYC
- Base Salary: 175k (but during the call they said our salary 160k pro rated for the year)
A buddy of mine same class / group got 90, but is walking away with more cash in pocket since he doesn't get stock...
300k total comp is bad now?
jesus
What is vesting on stock?
As an associate 1 (not stub) at a bad BB last year, mid bucket I got 110k all cash (off my 150k base). Thought that was sort of low, but whatever, my bank sort of sucks....
thats not unheard of, some bbs sort of give weak median bonuses compared to the EBs
Been hearing bad numbers for Citi
Surely this CB not IB right?
What’s your base?
Rip
Is your base salary at least increasing to $200K?
lol what bank doesn’t increase AS2 pay to $200k? Some pay a flat $200k across all 3 years which is different
CS after a record breaking year in the bank's history, 6 ASO1s I know got $50k-$70k thanks to Archegos and all the other scandals. Not to mention 2020 bonus was also dog shit. Thank god I left
Got any other CS datapoints from other levels?
I thought most banks do summer for bonuses
For analysts
ohh thanks for the clarification
BB S&T (I mean everyone knows what bank is communicating today but whatever)
VP2 - 200 + 130
Very good performance ratings
Not happy
MS?
S&T comp just seems like trash these days. VPs are what, 175-200k base and 75k-175k bonus? Might as well jump to a fund or switch into tech.
I mean full disclosure, none of my post-analyst roles in S&T have been directly P&L link. I was a FO quant and now do what I would basically refer to as FO quant risk, which is basically a risk management type thing that sits within the business itself, not independent risk. So actual traders' comp I'm sure is probably higher than mine, and there have (or were at least last year) trolls around posting bogus low S&T comp.
There has been a range thrown around recently of 300-500k for VP in S&T, maybe adjust that down 15% since it was such a shit year and you are looking at 255-425? So yeah, I mean I guess 175-225 base + 80-200 bonus. I'm sure very high performers can break this range and I think the low end is pretty uncommon, 255 for a VP would be really bad.
I am tempted to jump to a fund and/or back into a direct risk taking role (might be harder than I think to get but I would at least have a legitimate chance). But on the flip side I work like 8-5:15 M-Th, 8-4 F and have a good amount of autonomy and respect within my team and am concerned that leaving that even for an extra 100-200k might be a stupid decision.
That’s very low comparing to those colors given above
.
Nyc?
.
BB or non-BB?
.
Oh snap…this is really really low
Manager communicating 10% YoY increase like it's a good thing.. inflation was 7%.. top performance ratings, what the fuck were they going to pay me if I was mid bucket?
MS/Citi Assoc 2, all in 335K. Mid bucket. Hot sector coverage
$200k base + $135k bonus? Sounds soft…must be Citi
Just say tech dude lol
geothermal deals only
---
fuck u right. no wonder i cant re-up on my franks red hot
Did this few weeks ago on the other thread but let me put again and feel happiness deja vu
Bank: Canadian BB
Rating: Top
Group: Coverage
Location: NYC
Position: Associate 1
Bonus: $225k
*did this few weeks ago**
So BMO? That's their top group correct? Regardless $200K plus as an Associate 1 sounds insane
Lol it’s RBC. BMO is ass in the US
Metals & Mining is BMO's top group globally. Their P&U group in Canada is strong as well but don't think so in the US
What was middle?
not sure tbh. but someone got 175k and they arent liked much so assuming thats bottom
Uhhh is it just me or are these numbers so far shit for you guys...?
No, they are absolutely shit. Looking forward to the mass chaos of laterals to ensue.
Can confirm. Numbers that went out today were total ass for associates.
I think banks are looking at the base bumps as justification to lower the bonus %.
So instead of 175 plus 160 (which wouldnt be unheard of for a second year associate at a mid or low bb)
Its 200 plus 135
Total comp is same. Sucks they are doing that...
Ive been getting MS for saying this for the past 6 months. It’s stupid to assume bonus % is staying the same. Raising the base was a beautiful PR stunt by baml.
Lol we've only seen shiti numbers for citi so let's maybe wait on more numbers for other banks, esp BofA, since they tend to be highest paying BB.
Totally this. The real figure to focus on is total target comp, not base. Increasing base by 50K to 225 for Y2 assoc doesn't necessarily translate to a 100% bonus on that. Maybe this year at some shops where performance blew every expectation out of the water but assuming 2022 is slightly down or even flat, best case, you can bet the bonus will be paid as a % of total comp rather than as a % of base.
vp at citi here. top 20 pct of class (not top 10 pct)... total comp up c. 20 pct
good for a normal year... not too impressed given the record year we have had though
looks like citi not paying lights out. people will probably leave
Sorry to see... I would be resigning as soon as the wire hits.
yeah. suppose more difficult to leave more senior you are. they know that hence the mediocre bonuses
Citi cannot pay. It’s just a fact given their returns for shareholders. They ain’t gonna pay shit compared to the street until they get ROE in line, which could take a while.
Gonna be tougher to do when everyone leaves. Short sighted.
Citi knows they can squeeze more out of their geographical lateral hires and also take advantage of the lifers.
First year analyst bonus - 75k
an2 salary moved to 125k
mid bucket, top bucket?
^
This is at a BB, it was upper quartile but not the highest bonus they had paid out. HR said I ranked in upper 25% but top 20-10% would see slightly more. My first year base was 85k.
what was base?
Anyone know when the EBs communicate bonus #’s?
Removed
Why do people post anonymously (Analyst 1 in IB Gen, Associate 2 in IB Cov, etc) and use vague descriptions for banks (BB / Major city)? How much anonymity do you need?
Why did you post this anonymously?
Lol agreed if ur at a BB there’s like 500 other people at ur bank almost no chance to guess who the person is. Should just say the name of the bank and maybe ballpark
Any stub bonus numbers?
Stub here.
Citi gave us 40k
.
Hey dude - any idea what bonus ranges AN1/2 at JEF can expect going forward in non NYC groups (HOU/SF), factoring in the base increase?
.
Clt? What did VPs make?
.
Vp2/3
Lev fin
Big bank
Base 300k
Bonus 275k but stock component
Honestly seems a little low. Was it around what you were expecting?
I’m ok with it. A little low, but hard to complain with 575k for a relatively easy year for me. I have great juniors who do the heavy lifting. I have lots of nice perks at work as well.
Also, you’ll find the longer you work in the real world, you start to understand some of the comp numbers here are not always realistic. Whether people exaggerate or just straight up lie, I’m not sure.
Thief is the comparison of joy. Also the fact my wife makes more than me takes away some the sting of a “relatively” low bonus lol.
What does your wife do? 575K is an amazing year
Medical field
Specialty? I know females in the medical field and I know no one pulling 550+K unless they're working 60+ hours a week.
Really? Every single doctor I know makes over 600k in private practice groups. Maybe all your friends are doctors at public hospitals?
I have immediate family members who are doctors and all are private practice. Now I question how legitimate your posts are now too. WSO is an interesting place lol.
Then your family members are underachievers or work really crappy specialties?
not sure what to tell you bro. Surgeons make bank, especially in the plastic surgery field.
sounds like your fam must be something super basic, like a nurse practitioner or something lol.
Pretty childish response my man. Just saying I question your posts, not insulting your spouse's income - just question if you're telling the truth. I hope you're right for your own sake but this website is an interesting place.
I mean you say you have family in medicine and then say they make peanuts. Doesn’t make sense unless their specialty is mediocre or they are not real MDs.
my wife had to do 4 years undergrad, then med school, then residency and then an extra year to specialize.
if after all that schooling and loans you’re not making deep six figures it wouldn’t make sense. So not to be harsh, but they must me quite average or don’t work private practice, which is where the people who can’t get into private work. Just telling you the harsh truth of what my wife told me.
Well my family members who are doctors do have net worths in the millions and are living nice lifestyles. They are trained medical doctors but I'm not going to be arguing with someone online. I simply just said, it's pretty rare to make that much in private practice. If your wife is doing that well, great!
No need to get defensive.
Sorry it’s late and felt like you were insulting my wife. My bad.
she’s in a private practice and was made a partner right off the bat since they really needed her so she gets a nice dividend from the practice in addition to base and bonus.
The guy questioned your numbers and you apologized. You troll.
I’m so confused again, who said that?
Did you edit your reply lol after I asked wtf you were talking about lol?
You are a f$&@king idiot and probably in highschool. Most doctors are barely hitting $400k these days. Nearly every specialty except ortho and neuro are below $600k/year in well populated areas. This is verified by my own siblings, doximity, mgma data etc. private practice is dying and reimbursements cut left and right by Medicare - mean reversion is in place .
Also, new orthos and neuros don’t make those numbers unless they are in North Dakota or the middle of nowhere.
while I’m on the topic of pay, here’s my numbers:
$350 base, $800k cash bonus excluding carry. Private Credit.
Also hate to add to this elongated debate but making partner as a first year attending does not happen - not trying to stir an argument but I do question the legitimacy of the original poster's claims. But I may be wrong and maybe his wife is an anomaly. Like law/financial firms - this is usually an arduous process and takes at least 2-3 years. Takes awhile to gain a practice's founder or other partners trust to give a new attending a % of the earnings.
Curious how many carry dollar at work do you have, and how does that number compare to mf pe?
This just isn't true.
Average physician comp is circa 360k per MGMA. Now bear in mind this includes people working in academia which pays less and working part time.
If you are trying to make money in medicine you don't work in big cities, unless you are in some niche surgical/cosmetic private practice. Comp is so saturated in HCOL areas due to supply and demand its pointless to work there considering the COL. Pay is far higher in LCOL and rural locations. In high paying specialties you're looking at high 6s and low 7s in places like semi rural Texas/Iowa. Pretty sweet deal considering taxes/COL + lifestyle, especially if you don't want to live in a huge city. $1m in Texas is easily $1.5m+ in NYC when raising a family.
Also you have to understand most people in medicine aren't obsessed with maximising comp like people finance which is why these supply and demand differences occur. Also, lot of people in medicine are focussed on WLB. Even in low paying specialties, if a physician wanted to put in banker hours they can pretty easily get 500k+ with extra shifts/locums.
Wait you do lev fin? Why are you on WSO then? Maybe there’s a corporate banking forum you could find. Debt boy
“Over 600k” as a doctor is certainly an outlier
Exactly.
WSO definitely an interesting place.
He mentioned plastic surgery…I’ll guess that’s the specialty bc it pays the highest and is straight out of pocket with minimal healthcare coverage in most cases
Sure, that would make sense
Why you have some bizarre beef with me always calling me a dick?
Lmfao this kid is in high school with cuckold porn on the other tab
100% BS Lol
Smoke Frog speaks the truth. It truly amazes me how many naive kids on this thread have questioned what he's said.
Comp is highly variable in the medical field. There's a fairly SIGNIFICANT difference in the comp structure if you are a nurse vs. a doctor (sounds like nobody bothered to consider factoring that into this conversation). Location is obviously a consideration as well, as those working in rural areas / middle of nowhere are naturally going to be making less.
Private equity firms that buy out physician, dental or other practices and consolidate them across the country to scale their platform will try to squeeze every penny out of these companies, so pay is notorious for taking a hit when considering that. Separately, what most people on this thread probably don't understand is that many private practices provide doctors with an equity interest in their specialty practices (this is true for PE-backed practices as well). That equity kicker is bigger than one might otherwise think.
Lastly, while I have a fairly confident understanding of the range in comp among many of the specialty medical practices, I don't care if anyone wants to even question what I'm saying. Literally just google it and you'll find answers for yourself. Here's literally just one of the first search results that appear when you google 'highest paying doctors'.
Highest Paid Doctors (2022 Guide) (gajizmo.com)
Great points but I was literally saying 575K+ even as specialists isn't easy to achieve for most doctors. For some specialties it may be and in HCOL areas, it may be long hours. Not sure where the disconnect is, I wasn't disagreeing with him.
Thanks man, it seems the more experienced posters always support me or message me saying they agree, and all the junior bankers or college kids just argue with everything I say, this thread is a perfect example. Like me saying my doctor wife makes 600k is some crazy high amount for a partner MD. I think its just time to take my advice to reddit or bogleheads at this point. So tiresome always having to defend my comments.
---
I answer questions and I am insecure? Or you getting mad at someone describing his bonus and then an ancillary question on his total family combined income is insecure?
You've given no bonus comp numbers for anyone, and have only contributed crying over my numbers.
This board is typically frequented by winners (or I assumed, recently the seniors have appeared to have left and its just people like you who don't seem to work in finance or just get mad when others post), and so most of the MDs and bankers I know are top of the class. If you graduated from med school and were an elite student, you would have chosen a high paying specialty and found your way to private practice. Of course, not every doctor is intelligent and top of class and has to settle for mediocre pay. Just like every banker didn't go to an Ivy and makes bank. Some toil in mediocre groups.
So again, you cry about what others comment. You offer nothing informative on the actual thread topic of bonus. But I guess I'm the insecure one and you're a super confident and successful guy who gets mad when other post about financial matters. Ok.
---
Where is your jealousy coming from? I posted bonus to be helpful and then responded to someone who asked if I was disappointed with 575 and i said no since thats alot of money no matter what you do and also my family makes over a mil a year.
Thats all I said.
And you keep crying over and over that I am insecure, but I really don't know about what.
Are you really a VP in banking?
Because if you are I dont understand why my bonus or ivy league schools would trigger you so hard. Get a life man. If you're not going to post helpful bonus numbers, find someone else to cry about. Some of us got lucky and make bank. Thats life.
You sound like a turd
Fuck you. Was on your side this whole thread until you started throwing jabs at Chinese and Indian peoples. Fuck wrong with you
Mic drop
Your own link shows he’s wrong lol
dutchduke - That link wasn't even wrong. Did you even scroll down to see the salary ranges by specialty practice? And this is just a ballpark estimate from one of many sources of BASE SALARY (comparing against IBD total comp). There's variable compensation as well in the medical field....
I did and it doesn’t make your point. Plus never heard of that site. I have enough data points to know what I’m typing about and it’s very clear, most specialities will continue to merge to the 350-400 range and that’s mid career professionals.
Go browse Student Doctor Network physician forum and get some real insights instead of some weak google search
My man - I wasn't even referencing that as a primary source. Go back to my post and see that all I was doing was merely saying you can google these salary ranges (the link being literally just one of the first sites to come up). And yes, even that site made my point, as some specialties showed salary ranges exceeding $575k on average, before consideration of variable comp.
Except those are overall average, from which salaries of MDs in their 40s, 50s and 60s (prime earning years for an MD) will be significantly skewing the average upwards. Smoke Frogs wife is at most 5years out of residency, which would be a statistical anomaly.
Grow up man.
so doctors never break 1m/year? sad
Why aren’t you a stay at home dad
Successful women tend to not be attracted to losers who sit at home unfortunately.
Yea, but that can be rough timing
I think you meant comparison is the thief of joy 🥴
How's the vesting schedule?
Your standard three year calendar.
I don’t know who upvoted this comment but thanks man for the alert.
Had a real chuckle reading my old comments and watching little kids not being able to accept a specialized doctor could make 600k in the nyc area lol.
Citi paying shit bonuses in the middle of the great resignation / super hot job market.
agree....shit bonus for a record year.
To further add insult to injury, this article hit the front page of Bloomberg today....
Magnam aut vel nulla ad nobis quos. Saepe minima ratione consequatur voluptas et. Tempora ipsam quis possimus nam.
Eos dignissimos vel iusto aut quisquam labore nisi. Officia et eum sapiente voluptate. Ex ea beatae et qui.
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...
Harum eos odio autem molestiae earum. Laborum voluptas minus nostrum cumque at. Ad explicabo veritatis ratione sit rerum.
Quasi voluptas voluptatem qui rem assumenda. Incidunt qui velit assumenda quod corrupti culpa. Totam eius molestiae veritatis temporibus cupiditate est.
Labore reiciendis corrupti et repellendus. Distinctio qui velit ea. Reiciendis iure est labore laboriosam eos animi impedit voluptas. Minima laudantium illo qui asperiores quia. Quos nemo eius nulla est sint ex aut.
Voluptatum non ullam dolorum autem sunt pariatur et. Dignissimos autem reprehenderit commodi omnis eos incidunt. Ut perferendis autem sunt incidunt amet nam ad.
Amet perspiciatis error quia dolorem. Aliquid nostrum voluptatem dolorem molestiae adipisci commodi. Eligendi consequatur asperiores ab. Nam reprehenderit aut exercitationem quos fuga neque doloribus.
Ab dolores neque corporis sed perferendis eligendi. Commodi dignissimos sunt fugit harum. Ipsa ipsa repudiandae quia illo quia est. Ipsam commodi vel ipsam officiis qui.
Veritatis expedita rem odit laborum mollitia blanditiis. Ipsam et quo doloremque dolorem. Natus non et voluptate vero dolor molestiae. Ipsam porro atque ut fuga atque voluptatem. Expedita aperiam dolor necessitatibus dolore.
Quia et veritatis sint consequatur quis delectus architecto. Minima atque quidem officia et. Officiis quia veritatis libero quae modi voluptatem repudiandae aut.
Porro est iste voluptatem. Deserunt accusamus molestias est ut.
Earum quae ipsam et ut et corrupti. Est aut quia nisi aliquid. Sunt et et ut eaque delectus quia facere velit. Autem dolor velit debitis id dignissimos. Ex non similique et qui. Expedita similique est est distinctio eos molestias voluptate. Quia dolorem voluptate autem molestiae.
Aut iste consequatur dolorem quae. Qui soluta vero dignissimos temporibus debitis ducimus explicabo. Facilis debitis explicabo non qui illum enim.
Sit atque possimus est nulla veritatis nam dolor. Eligendi doloribus recusandae eos officiis rem. Autem officiis commodi tenetur praesentium. Beatae non rerum dolor vel itaque ipsum quia.
Qui numquam rerum fugit et quia. Similique dolor et consequatur quia. Aut blanditiis corporis qui reprehenderit ut dolor. Omnis aut qui earum cupiditate temporibus nostrum. Qui odio ab nobis blanditiis. Facilis deleniti voluptas sint numquam non.
Pariatur est eum ullam nisi et. Facilis est amet dolore dolorum. Esse cumque cumque amet aut minus adipisci et porro. Aut vitae aspernatur unde facilis commodi omnis in ut.
Repellat voluptates blanditiis dignissimos et doloribus ex accusamus. Sapiente modi ipsum illo exercitationem. Ullam dolore vitae nam quia aut.
Error dolorem accusantium eos eveniet. Provident eaque eaque saepe sed quo eos exercitationem. Dolorum in quae autem suscipit nulla culpa laboriosam.
Molestias exercitationem sed distinctio illum ut sunt ad. Error dicta aut distinctio velit ducimus iusto. Qui sunt quod in. Deserunt sequi perferendis ut quia. Autem non fugit hic assumenda dolores rerum. Nisi ut et laboriosam iusto et. Repudiandae fugiat eos et tempora est.
Reprehenderit corrupti omnis eos blanditiis suscipit pariatur. Sunt ea qui aut tempore. Dolor reprehenderit at quibusdam rerum. Minus qui voluptatem et quia.
Repellat nostrum repellendus beatae sint aperiam maiores et id. Sapiente corporis expedita ut delectus. Itaque culpa blanditiis et temporibus incidunt reiciendis. Voluptas aperiam sit sequi expedita.