Trying to navigate the corporate banking compensation and compare to IB. I’ve heard Citi and JPM are the best, but can anyone shed light who actually work(ed) there?
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Based on the most helpful WSO content, here's a breakdown of corporate banking compensation and comparisons to investment banking:
Top Corporate Banks: JPMorgan and Citi are often highlighted as the best-paying corporate banks. They sometimes pay corporate bankers in line with investment banking divisions (IBD), but this is not the norm across the industry.
Compensation Structure:
Senior-Level Compensation:
Lifestyle Considerations:
If you're considering Citi or JPM, they are standout options for compensation and career progression in corporate banking. However, keep in mind that bonuses and overall comp will still generally trail IB, especially at higher levels.
Sources: An Overview of Corporate Banking, An Overview of Corporate Banking, What is corporate banking?, 2017 Commercial/Corporate Banking Bonuses, JP Morgan Corporate Client Banking and Specialized Industries Salary + Bonus, Career Progression
SMBC Comp was the following:
AN1: $110k Base + 20-25% bonus
AN2: $125 Base + 20-25% bonus
ASO1: $150 Base; idk bonus, think roughly 20-30%
ASO2: $175k Base
ASO3: $200k Base
Overall, I would say that is pretty good comp. I assume your hours are less...
I'm not there anymore, but hours were basically like 9-6, WFH 2 days a week. Incredibly cushy, but the job itself was ridiculously boring
Bump
BB AN1, ~$140k TC, LATAM
What banks are the "best" in terms of exits, comp, etc to start at? Would a large bs bank like Truist or PNC compare to a BB if they are typically corporate lending rather than focused on IB? I'm interested in CB but seems a lot of banks run it differently.
You want be at a bank that is lead left and pays well - JPM and Citi are the highest paying CB teams
WF and BAML definitely don’t pay as high. Truist could be in the middle
Do you know what the hours are like at JPM and Citi for CB?
What is comp for WF around?
Truist is garbage compared to wells and BofA. Why do they pay better? Is it the way the teams are structured?
1st yr analyst at intentional balance sheet bank
Base : 100k
Bonus : 10-15%
Sign on : 10k
Hours will probably be 9-6 with WFH Friday (nyc)
I may be wrong but I’d expect your bonus to be a little bit higher?
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