Calling all Corporate Bankers
I am trying to put together a list for us like the ones IBer have. So could you disclose the bank you work for, typical hours, and maybe compensation? I think this is useful information for all of us in corporate banking.
Lets make this go VIRAL!!
Comments (158)
How about you add yours? Anyway:
Bank: Citi.
Hours: 50-60
Comp: £70k base
Edit:
Signing bonus: £7k
Bonus unknown
I just did below. Apologies in advance for all these questions, but I am curious because I heard BB are worked harder than other companies. Are you based in London? is it 50-60 hours every week? more towards 50 or 60? do you know if your US counterparts are doing the same hours?
More towards 50, but depends on deal flow. 70 if you aim at moving to IB later. US is a bit more, I guess. So far haven't really worked weekends, but some do.
Dude WTF so many people have been asking about Corporate Banking in London and no one has ever replied, this is the first time i am seeing actual numbers, why do you guys ignore those questions.
I wanna move from NYC to London as I do not like the prospects of flying around the USA and neighboring countries every week once I hit VP.
What are client visits like in London are there lots of international trips or do you mainly go to the midlands and places like that. Also do you have any idea of comp once you hit VP and above? Very very very very curious.
Is this AN 2? No way citi corp banking is getting MS IB base for AN 1
A1, experienced hire
Bump
Bank: credit industriel et commercial
hours: 45-55
comp: $85k base
What's your rank?
Seems huge for CIC
Seems like Corporate Bankers are more afraid to lose their job by disclosing their infos than getting a salary bump. Lol
Don't blame us, its probably the sweetest gig in finance, easy to break in and has been the best kept secret in banking for a while.
We don't want it turn into banking 2.0 and have people from HYP clogging the system and bringing bad cultures from IB with them so I guess a lot of people are deliberately tight lipped.
In all honesty, I hate the new interest in corporate banking I am seeing and all the information getting out.
Kinda miss the days when an uninformed people on WSO would tell everyone to avoid it at all costs and call it a back office role with zero exit opps and 60k total comp at VP level.
I'd rather sever my own leg than do CB
Yet here you are.
CB is a bunch of low IQ c*cks in my experience. The good ones all transfer to IB and the rest stay and don't do anything other than push work to IB teams.
used to work in CB and left. it has very good hours to pay ratio but the job itself is highly administrative in nature until you're an RM and boring. the skillset also limits you to credit, which is fine i guess as long as you like credit. what im basically saying is that to call it the "sweetest gig in finance" is laughable but it isnt a bad gig all around
Wdym lol. I started out in CB, realized the hours + comp don't justify the work life balance and lack of exit opps. The truth is CB is incredibly boring.. which goes to show when 75% of my class lateraled to IB (and that's after ~2-3 years, mind you).
If you want to be incredibly bored but have a fairly insulated job that can weather economic shocks, CB is right for you. Otherwise, I would just bite the bullet, do 2 years in IB, and go do whatever else you want to actually do with your life.
Bank: Canadian Big 5
Title: Associate 2
Base: $150k
Bonus: $95k
Hours: 50-60 (70 if deal flow is hot)
Umbrella: Corp bank sits within Investment Bank
(I work in US, figures are USD)
NOTE: We all need to disclose comp in full. Can't be shy about it.
Bank: BMO
Title: Analyst 2
Base: $90k
Bonus: Expecting ~20k (joined in the current year)
Hours: 50-60
Umbrella: Corp bank sits within Investment Bank
(I work in Canada, figures are CAD)
Bank: U.S. BB
Title: Analyst 1
Base: $85K
Bonus: Expecting $20-$50K
Hours: 55-70
Umbrela: Corp bank sits within IB
Hoping this will lead us somewhere!
20 to 50 is a huge range. Was that for previous years?
could you specify the bank please? Its a BB so no one will know its you anyways.
JUST SAY THE FUCKING BANK
Lol I think it is Wells. I have been doing a lot of networking with the Corporate Bankers here (Houston) every big bank with CIB gets paid the same base as IB analysts. JPM, Citi, BoA all pay 110, everyone at Wells complains about being paid less than they should since it is a 3.5 year program.
How is Wells Fargo?
Bonus checks cleared and a lot of people have been leaving because we're so underpaid here
It's a fucking joke and we all hate it here because they won't pay us what we're worth
ok thats lit ahah
edit: removed info, its been less than 24 hours and i got networking messages on linkedin from hardos who wanted me to hop on a call, its a sunday evening, my MD has never asked me to do that. Agree with poster above, we do not want Hardo's here ruining shit. Stick to Moelis and MS to the guys who emailed me
that's insane. How do they even know who you are? Like you post as anonymous too
My bad man lol I was kinda making a joke, didn't think they would track you down like that.
People can't track you don't if you don't share glaringly public information. Saying the name of a bank, a generic title, and pay when posting under anonymous people cannot track you. People on here are insanely anal about that. Yes you can get tracked if you share non generic info… obviously
I agree with this.
bruh what? They must've reached into their network to ask "hey anyone know a person with xxx salary range, at xxx bank, and xxx title."
1st Year.
Canadian BB Corporate Banking MM
Base 65K
Bonus: 20k
I guess middle-market coverage does pay a lot less.
Dude just say the fucking name
I think if his is RBC and 65k then it's the commercial banking group lol
RBC.. I guess looking at others' replies, I should be job hunting..
hours please?
8 to 6.
Some VPs and Directors leave at 5 on the dot everyday.
Bank: BB
Title: AN 1
Base: €75k
Signing Bonus: €6k
Hours: 50-60 (70 if deal flow is hot)
Umbrella: Corp bank sits within Investment Bank
is that for Paris?
.
Bank: Non-BB US bank
Title: VP1
Comp: $175K + $125K, will be $200K + $150K this year.
Hours: 45-50
please drop the name of the bank? This looks amazing
What tier city is this?
NYC
To confirm, was your comp 175+125 as VP1, and now as VP2 it'll be 200+150?
Old info as Truist CB and IB are all one now but
Location: Atlanta
Position: Analyst 2
Salary: $85K
Bonus: $35K top bucket
Hours: 60-80 but moreso from high turnover; average was closer to 60
Will follow up this with my info from STRH / Truist CB. This was pre-merger info and pre bank pay raises.
Analyst 1: Base $80, ~$25K bonus
Analyst 2: Base $85, ~$45K bonus
Hours were like 60 on average. Could be under 40 when slow up to 80 when busy. Worked with cool senior bankers who respected my time and just treated people right. Downside was work was largely internal (memos, screens, client planning) and work could be boring. Moved to IB and just took a MM PE role
Wells Fargo
Analyst 2
San Francisco
Relocation Assistance $5k
Base $120k
Bonus $96k
Hours: this past month like 35 honestly. Usually 45 to 50 normally.
Gawd dam! You hit the jackpot with this. They have this comp and hours in their nyc office as well?
Unusual to get 80% bonus? How do the big balance sheet BB's compare.
Wells Fargo haven't bumped salary for CB analyst, how are you making $120K base as a A2? Can you share more info?
Im gonna go out on a limb here and say he probably works in Investment Banking lol not CB, they are grouped but very obviously split internally with work duties and all that. No shot a CB analyst at wells is making 120k BASE with a 96k bonus idgaf if you live in Dubai no way you're in CB clearing 200k as a second year analyst.
I got an Internship coming up this summer with Wells and they gave me a $1500 relocation stipend, thanks that will help me pay rent for half a month lol. 5k for the year in San Fran? Thats insulting
The titles WSO allows you to pick from are a bit limited so I'm not technically in CB or IB either. Wells Fargo has a Renewable Energy Environmental Finance group which falls under "Commercial Capital" within the bank. But it's not Commercial Banking either, it's really it's own thing. Our group has an Originations and Business Development side and a Portfolio Management side. I'm not sure how I would label it on Wall Street Oasis, but we just do tax equity financing for renewables projects.
There is an anonymous survey for current CB comp:
https://forms.office.com/r/2UNVizZ35g
Will share results once there are more responses.
This may be better for those looking complete anonymity!
Bump
Anything u can share yet?
Going to wait another week to see what comes in. 30ish responses so far from mostly the same few banks.
Bank: C5 in NYC
Title: Analyst 1
Base: just bumped to $115K
Bonus: probably 20-40k idk
Hours: 60+
Sign on: 10k
Wow, that is a great base salary. Do you mind giving the bank's name?
Comical that base for an AN2 in Canada at a C5 is 90 and management has indicated they have no interest in boosting/matching.
Canadian market has and will always pay less. If US CB doesn't pay base at that level in US they'll get Cantor level talent or something worse than KeyBanc given NYC costs
At #6 in Can. Base 95 and bonus ~45 for AN1 :) maybe it's time for you to jump ship
Any insights regarding corporate client banking (CCBSI) in JPM?
Sure, analyst base is $100/$105/$110 (last year is assumed, current first years are the first year that will have the 3rd year stub). Bonus pool last year for 1st years was $20-$40k. Regional groups are aligned with regional LevFin as juniors, industry groups have dedicated LevFin verticals so act as more of a hybrid coverage/LevFin junior, + the CB/RM stuff. Generally work 45-60 hours a week but probably on the lower end compared to other analysts. DM me with questions
Can you elaborate on the above more clearly to help newbies understand? Wdym by regional groups aligned with levfin as juniors? wdym by "industry groups are hybrid coverage/levfin junior + CB RM stuff?
Im currently CB Analyst at American BB (in Europe) I feel the hours in the above comments are so low, it is typical to leave at 9 to 10 and 1 AM-2 AM in big days. $85K + bonus. Dont even agree with the "boring" fact, transactions itself are less exciting than LevFIn or M&A but the practical tasks are not
C&IB, Australian Big 4 Bank:
Figures in AUD and educated estimates above the Associate Director level.
Was Analyst 1 in C&IB - no bonuses until senior associate.
Hours depend entirely on group but given bureaucratic pay structure and public eye, comp is flat across all groups. Pay almost identical across mid and back office roles until ~Level 4 (Associate Director) where the ceiling is higher in C&IB.
Hours (per week):
Generally speaking, work as analyst/associate is almost entirely credit analysis/systems/admin based with limited model building capacity.
In the specialist groups (PF, LF, Securitisation, Resources, Hybrids), is more of an origination focus and modelling can be quite intensive - often used as springboard to IB and well regarded within industry. Hard to justify the hours with the flat pay structure.
Feel free to message or comment for further details.
Sounds like NAB (the only big 4 with a hybrids team that has an analyst level). I know NAB is paying up higher than competitors right now so rest of market probably still 5-10% lower for the next couple of months until forced to match.
Don't read into it too much. Wouldn't say NAB is a market leader on comp.
I know CBA pays ~10-20% higher across all pay bands (bar perhaps Analyst/Graduate).
Do you have any insights into PF specific comp across big 4 but also competitors? (Canadian/Japanese/French banks)
Can you elaborate some more on the salaries in PF?
.
Bank: European Bank
Location: Europe
Title: 1st year analyst
Comp: €67k base salary
Bonus: weak €5k
Hours: 40/50 h
Umbrella: integrated to IB (CIB Division)
Salary will probably bump to ~70-73k second year and 80k third year but wanna lateral for IB (Levfin or DCM, no M&A)
bump
If anyone has insight on JPM Corporate Banking Associate and VP pay after the recent bumps, please provide.
CCBSI AS1 is $140 base now I think, VP1 is $170 base. Not sure where bonuses ended up exactly but I think TC for associates is $200k+ and VP1 is $250k+. There's a push to increase pay to match the IB raises that were given out a couple of months ago but no news yet from the higher ups, probably because pay increases would need to trickle up as well if that happened
is this the same in Canada as it is in the USA?
Is this for NYC? Do you know what the hours are like?
Any thoughts around what ED/MD comp in JPM ccbsi looks like?
Any info on JPM CIB ? Thanks
This thread is on corporate banking; I'm sure there are dozens of other threads that can provide insight into JPM CIB.
I assume be means JPM Corporate Banking, which is a part of JPM CIB. Not to be confused with CCBSI which is in the commercial bank.
I have a few questions for existing relationship managers out there that pertains more to the actual job, and think any responses would greatly benefit this thread.
1. What are your annual goals? If you don't want to be specific, a general idea would be great.
2. How much time do you devote to generating new business vs. handling existing business?
3. How successful have you been in bringing on new clients?
4. How often are you doing after hours entertaining?
5. How often are you cold-calling?
6. On a scale of 1 (deals come to you) to 10 (you want to quit your job) how difficult is it to meet/surpass your annual goals?
Any insight would be very beneficial for myself, and I hope would add a little more job specific info to the thread outside of hours/pay.
Bump, would be super helpful
British Bank
Corporate Banking under Investment Bank umbrella
Ana 2 £55k + 10% Bonus
IB comps are so transparent, would love to see more data points across corporate banking
Corporate banking ANA1 £50k+ 10/15%bonus
Bank-Japanese
Role-VP for underwriting / credit portfolio manager
Base 170 Bonus ~40% (top rated, average will be ~30%)
Hours are becoming more difficult since i started structuring deals with private equity sponsors (credit focused) but not insane - work nearly 20% of the weekends. TYpical 50-60/week. rarely 70 hours including 20% weekend work
Is this in NYC? And is it one of the large Japanese banks (i.e. - Mizuho/MUFG/SMBC)?
Also going to tell you what i have seen (largely due to my juniors leaving, salaries have definitely increase even during 2021 and as people left later, got better salaries):
- AN3 ---> going as Associate 1 at BB in Corp Banking (NY position) - 150K Base Bonus: ~50K; Hours look easy well within 40-50
-Associate 2-Going as Associate at EU BB bank (NY position) - 130 K Base Bonus: Not disclosed
- AN3 ----> Associate 1 at BB (TX / non NY position-) - ~130 base Bonus: colleague did not disclose exactly but around 20%
- Associate at a Canadian BB position (NY only): 175 Base (perhaps upped from 160 just to attract talent, not sure of bonus / not sure if this becomes new standard [I think some Canadian banks were looking for good talent]
- VP at Canadian BB (NY only) - 200 Base; Bonus expectation of ~40%
Results from the survey:
wow the WF comp is so bad holy shit
yea that on top of the 1.5 years until promotion to analyst 2 (and 2 years if you're off-cycle!)
Anybody think bases may get pushed to IBD base in the near future?
Curious to see that happen! I don't think management really care tbh!
It's time for base pay to match IB through all levels. As someone who came from IB to CB, I understand the difference in bonuses.
Base pay needs to be the same given unpredictability of work. Glad the gap is starting to close at some banks, so that's promising.
Citi
1st year Analyst
$85k base.
40 hours/week
What city? And any idea what your bonus could end up being?
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