With rising comp during the COVID boom and then a disappointing year last year, what are your expectations for comp going forward in a more normal environment (neither boom nor bust)? It seems less clear than usual and I am a little unsure what ppl think are comp ranges nowadays
It would be nice to delineate BB vs EB and offer different roles (An, Aso, VP etc) at a minimum but any thoughts would be interesting
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Anyone?
I think comp will be really bad next year as 2023 is looking like a total dud
Might be totally off base here but seeing very early signs of things starting to open up. Think the combination of dry powder, lenders starting to test the waters and more realistic valuation expectations could create some decent activity in mid to late 23.
still means this year is going to be bad though at this point.
I am also guessing that banks are going to hit the lower comp to try and get some turnover at the lower levels too. I really would expect a lights out year.
Thanks for the responses
To clarify, I am not talking about what this year might be. I mean going forward, on average and not a good or bad year
We had a meaningful increase in base salaries across the board and then bonuses started moving down. Are you expecting to get bonuses 100%+ of base in the future? Or has the industry moved towards a much bigger base weighting in total comp? I have heard some say their target comp is close to pre-COVID but with a higher weighting of base. Do you agree?
What is your current base? I have heard wide disparity across EBs today when generally they were converging going into COVID outside of the ones who wanted to comp leaders
Even with "poor" bonuses in 2022 - total comp was up versus 2017 - 2019 levels. I'd expect something like this moving forward - adding what it used to be before the COVID boom in comp as well.
AN1: 110 + 50 // 85 + 55
AN2: 125 + 75 // 90 + 70-80
AN3: 150 + 80-100 // 95 + 90-120
AS1: 175 + 100 // 150 + 100
AS2: 200 + 150 // 175 + 150
AS3: 225 + 175-225 // 200 + 200
VP: 100 - 150% of base
Saying comp is up compared to 2015-2019 is a joke. How much is housing up? How much more does food cost?
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