Corporate Banking Analyst Salary and Bonus?

Can someone provide a range of salaries and bonuses for Corporate Banking Analyst positions?

corporate banker salary

Generally, at the starting level corporate bankers make the same amount as investment bankers ($85 k in 2018) but the bonus levels will be somewhat lower than it is for investment bankers.

Our users shared their insights below - however, it is important to note that this data was shared in 2014.

B2Banker - Investment Banking Associate:
Corp. banking at a BB typically pays 70k base with 20-30% bonus for a full year. For those starting after graduation in ~June working for 6months would be looking at 10k sign on, 10k stub EOY bonus.

Corp banking at super regionals is 65-70k base also 20-30% year end bonus, sign on 5-10k.

whatnow321:
So, just to be clear, and I know this varies by firm and stuff, but CB and IB Analyst salaries are typically the same for 1st years at MM or BBs, $60-70k... and it's ultimately the bonus that's different for each, right? With CB bonuses at the analyst level being like $20-30k while at IBs its like $30-50k?

User @Morrah" shared for recent data from 2015:

Morrah:
Since the increase, an update at Citi is as follows:
  • 1st year Analyst: 10k sign on (same as IB) / 85K Base (same as IB) / 25-40K bonus
  • 2nd year Analyst: 90k base / 45-60k bonus
  • 3rd year Analyst: 95K base / 65-80K bonus (if you stay through full 3rd year - many are promoted to associate in Jan)
  • 1st year Associate: 40k sign on / 125k base / 75-100k bonus
  • 4th year Associate: 165K base / not sure
  • 1st year VP: 175K base / not sure

Want to learn more about corporate banking? Check out the video below.

Read More About Corporate Banking on WSO

Decided to Pursue a Wall Street Career? Learn How to Network like a Master.

Inside the WSO Finance networking guide, you'll get a comprehensive, all-inclusive roadmap for maximizing your networking efforts (and minimizing embarrassing blunders). This info-rich book is packed with 71 pages of detailed strategies to help you get the most of your networking, including cold emailing templates, questions to ask in interviews, and action steps for success in navigating the Wall Street networking process.

Networking Guide

Comments (130)

Feb 27, 2014 - 1:45pm
Hugo Stiglitz, what's your opinion? Comment below:

DO they still follow the same raise structure as IB (70/80/90)? or is it less set in stone?

Hugo

  • 1
Mar 7, 2014 - 5:34am
whatnow321, what's your opinion? Comment below:

So, just to be clear, and I know this varies by firm and stuff, but CB and IB Analyst salaries are typically the same for 1st years at MM or BBs, $60-70k... and it's ultimately the bonus that's different for each, right? With CB bonuses at the analyst level being like $20-30k while at IBs its like $30-50k?

Mar 7, 2014 - 9:24am
865finance, what's your opinion? Comment below:

65k + 10k sign on for me, off-cycle hire at a super regional.. Know some folks who made over 100k their first year after year end bonus.

Not a bad spot to be in.. Hours are not near as bad as IB and the comp is fairly similar. Granted, the exit opportunities probably aren't as good but it isn't a bad place to start at all

Mar 7, 2014 - 2:24pm
brownbear1257, what's your opinion? Comment below:

Holy crap if you use the search function, you will find so many posts about this.

You will be a terrible analyst anywhere if you don't learn to use the google

Mar 26, 2014 - 3:37pm
Morrah, what's your opinion? Comment below:

At my BB Bank:
Analyst 1-Year: 10k Sign on/70K Salary/25-45K Bonus (depend on Tier)
Analyst 2-Year: 80K Salary/35-55K Bonus
Analyst 3-Year: 90K Salary / 45-65K Bonus
Associate 1-Year: 40K Sign on / 110K Salary / 55-75K Bonus

Pretty good for only working 60 hours a week on avg.

Mar 26, 2014 - 5:09pm
HFer_wannabe, what's your opinion? Comment below:

Morrah:

At my BB Bank:

Analyst 1-Year: 10k Sign on/70K Salary/25-45K Bonus (depend on Tier)

Analyst 2-Year: 80K Salary/35-55K Bonus

Analyst 3-Year: 90K Salary / 45-65K Bonus

Associate 1-Year: 40K Sign on / 110K Salary / 55-75K Bonus

Pretty good for only working 60 hours a week on avg.

you workin' with Jamie?

Mar 26, 2014 - 4:28pm
basherdasher, what's your opinion? Comment below:

How hard is it to transition from Corp. Banking to IB , or Corp. Banking to HF though ? I imagine it would be extremely difficult.. but i genuinely want to know

Mar 26, 2014 - 5:07pm
Pienaar21, what's your opinion? Comment below:

Not hard. I know someone who did CB SA and leveraged that during FT recruiting for IB at the same BB. He busted his ass all summer and had others vouch for him.

Apr 19, 2014 - 12:04pm
B2Banker, what's your opinion? Comment below:

basherdasher:

How hard is it to transition from Corp. Banking to IB , or Corp. Banking to HF though ? I imagine it would be extremely difficult.. but i genuinely want to know

It's really not hard, it definitely helps if you are coming from BB. The issue is that some "Corporate Banking" groups at large regional banks deal with the type of clients the "Middle Market" group at a BB would work with so the experience can be vastly different depending on the type of analysis you would be doing (which in turn depends on size of client). For instance, if you are working with clients in the ~500MM range at a large regional bank, the number of publicly traded clients in your book will be very small. The other issue you come across is leading syndicated transactions vs. being a participant as the lead will do all heavy lifting in regards to the structure and you are merely underwriting at the participant level to see if your bank is ok with "taking" the terms put forth. With that said you do see some of the larger regional banks being involved in plenty of syndicated transactions, they just will not be leading the majority of the time. You might also end up doing a lot of bilateral (2 party) deals depending on the exposure.

Easiest transition is when you are coming from an industry specific Corp. Banking group and making a move to same IBD industry group (i.e. going from Energy CB to Energy IBD). It will also be easier to make an internal move within your BB after networking than say going to GS/MS. In short it is quite possible you just need to make sure you target the right opportunities. Exit opps are good as well and you have the ability to stay in corp. banking long term which gets more lucrative over time, you just see a lot less of the PE/HF exits (usually will happen after moving into IBD first) unless you are going to a credit fund (though Lev. Fin. experience is more desirable for moving into those roles). With that said, you can also exit to Lev. Fin or DCM roles after CB. Early on after undergrad, your exit opps are very broad and are also based in part on where you went to school and your stats there, working at a solid BB and getting good experience helps out a lot, you just need to have a good story...with that in mind definitely need to have the stats you would in UG when applying to these roles entry level (target/semi-target with good GPA+experience).

Feb 11, 2015 - 3:00pm
whatnow321, what's your opinion? Comment below:

banana_boss any sense of what bonus is like for CB analyst?

Feb 27, 2015 - 3:31am
not1cuckaroo, what's your opinion? Comment below:

I think there is confusion about BB Corporate Banking when CB is segmented with the Investment Bank, compared to BB Corporate Banking and the CB is separate. For example, I know at Citi the two are generally together and they pay the same salary as IB and just get 50% the bonus IB guys get. I know two guys in the latter, are 2nd year analysts and just busted $70k with their year end bonus. I suspect JPM/Citi are the former and Wells/BofA are the latter.

Oct 29, 2015 - 6:30pm
Morrah, what's your opinion? Comment below:
not1cuckaroo:

I think there is confusion about BB Corporate Banking when CB is segmented with the Investment Bank, compared to BB Corporate Banking and the CB is separate. For example, I know at Citi the two are generally together and they pay the same salary as IB and just get 50% the bonus IB guys get. I know two guys in the latter, are 2nd year analysts and just busted $70k with their year end bonus. I suspect JPM/Citi are the former and Wells/BofA are the latter.

Since the increase, an update at Citi is as follows: 1st year Analyst: 10k sign on (same as IB) / 85K Base (same as IB) / 25-40K bonus 2nd year Analyst: 90k base / 45-60k bonus 3rd year Analyst: 95K base / 65-80K bonus (if you stay through full 3rd year - many are promoted to associate in Jan) 1st year Associate: 40k sign on / 125k base / 75-100k bonus 4th year Associate: 165K base / not sure 1st year VP: 175K base / not sure
Oct 29, 2015 - 6:31pm
wisnieet, what's your opinion? Comment below:

Corporate Banking Salary & Bonus (Originally Posted: 12/15/2006)

Does anyone know what the salary and end of year bonus is for 1st year corporate banking analyst? More specifically, what is the end of year bonus for JPM Mid Corp Corporate Banking group. Thank you for your time.

Oct 29, 2015 - 6:32pm
Gommini, what's your opinion? Comment below:

If you can't figure that out on your own, you are asking the wrong questions.

  • 1
  • 2
Oct 29, 2015 - 6:35pm
wisnieet, what's your opinion? Comment below:

I know what salary they offered obviously, but I can't find any info in terms of what the end of year bonus ranges will be. I am expecting it to be lower than the GIB but I am hoping it is still at least 20-60 grand.

Oct 29, 2015 - 6:37pm
Gommini, what's your opinion? Comment below:

This shit is posted on like every other day. If you can't use your own resources to answer questions for yourself, then you are going to fail in finance. Its all about due diligence.

Oct 29, 2015 - 6:38pm
wisnieet, what's your opinion? Comment below:

Actually I tried to search under "Corporate Banking Salary" and I didn't find the results I was looking for. If you don't like the "shit" thats posted don't waste your time or mine by responding. And I think I'll be ok in finance but thank you sincerely for your concern.

Oct 29, 2015 - 6:39pm
Monopolisf, what's your opinion? Comment below:

corporate banking salary info is not prevalent on these forums....and as you can see from my post above, there is a disparity. FYI, expect to earn about $5K more in both salary and bonus at other firms such as BofA and Citigroup. JPM is at the lower end...which sucks considering their corporate bankers spend half of their time pitching M&A and subordinated capital solutions. Frankly, I would hope corporate banking salaries would get bumped up over the next few years.

Oct 29, 2015 - 6:40pm
wisnieet, what's your opinion? Comment below:

thanks monopolisf for your help. i appreciate you providing this information. although JPM mid corp banking is paid lower i feel this is definately a good group to get my feet. from my understanding it can open a lot of doors in different groups. thanks again for your help. ill keep hoping there is a salary bump.

Oct 29, 2015 - 6:43pm
electriclighto, what's your opinion? Comment below:

I believe base CB salary in Citi is on par with IB (1st year 70, 2nd year 80, 3rd year 90) but bonuses will be less than IB for sure, I'm guessing 50-75% in each bucket range. Hours are way better, you will definitely have weekends sometimes and it's rare you're staying past midnight every day.

  • 1
Oct 29, 2015 - 6:44pm
canadiangraduate, what's your opinion? Comment below:

2010 numbers for corporate banking in Toronto (all confirmed), for first year analyst, and associates. Base/bonus.

RBC Capital Markets: Global Credit - only hire at associate level - 90k/30kBMO Capital Markets: LPG 70k/20k, 90k/30kTD Securities: Only hire associates - 90k/30kCIBC WM: CCP - 80k/15k, 100k/25k Scotia Capital: 70k/15k, 85k/25kJP Morgan: Mid Corp Banking - 70k/25k, Not sure about associatesHSBC: Only hire associates starting at 90k + bonus.

Oct 29, 2015 - 6:52pm
nycgal, what's your opinion? Comment below:
canadiangraduate:
2010 numbers for corporate banking in Toronto (all confirmed), for first year analyst, and associates. Base/bonus.

RBC Capital Markets: Global Credit - only hire at associate level - 90k/30kBMO Capital Markets: LPG 70k/20k, 90k/30kTD Securities: Only hire associates - 90k/30kCIBC WM: CCP - 80k/15k, 100k/25k Scotia Capital: 70k/15k, 85k/25kJP Morgan: Mid Corp Banking - 70k/25k, Not sure about associatesHSBC: Only hire associates starting at 90k + bonus.

surprised by this. when i was doing corp banking in 2006/2007, bonuses for 1st yr analysts were 40-75 w/ 60 base

Oct 29, 2015 - 7:05pm
FreshPrinceDot6, what's your opinion? Comment below:

Thanks for the input! I'm a third year at a target school in Canada but I've been bouncing around with a bunch of options
I was wondering what the process was like for corp banking recruiting (esp compared to IB)
However, I landed an corporate finance internship, and have experience with the federal tax authorities in audit.
Do you have any hints on marketability when recruiting (primarily for corp banking)? Anything you did specifically to stand out and grab the offer(s)?

Oct 29, 2015 - 6:46pm
TxAgCRE, what's your opinion? Comment below:

That's higher than I would have expected.

"There are only two opinions in this world: Mine and the wrong one." -Jeremy Clarkson
Oct 29, 2015 - 6:47pm
canadiangraduate, what's your opinion? Comment below:

Intern at two of them, accepted one of them full time last year. Rest of them are from direct friends.

Oct 29, 2015 - 6:48pm
TxAgCRE, what's your opinion? Comment below:

Whats your school/background if you don't mind me asking?

"There are only two opinions in this world: Mine and the wrong one." -Jeremy Clarkson
Oct 29, 2015 - 6:50pm
Al Bundy, what's your opinion? Comment below:

canadiangraduate: can you elaborate a bit more about corporate banking and what all it entails? There seems to be a dearth of info on the site about what corporate banking is, so if you can shed some light on that, I think it would be of great use to us all.

Pretty women make us BUY beer. Ugly women make us DRINK beer.
Oct 29, 2015 - 6:51pm
canadiangraduate, what's your opinion? Comment below:

Depends from bank to bank, some have it as a completely separate group and others have it side by side with the IB group. There are different groups among CB, like trading room credit in which you help manage a portfolio of clients that trading facilities (i.e. contingent/uncommitted) to accommodate the exposure of derivative (foreign exchange forwards, interest rate swaps, credit derivatives, etc.), securities lending, repo transactions etc. This group works closely with the trading floor and usually manages the relationship. There are also the normal industry groups most people work for, like mining, real estate etc. These groups lend to corp clients through revolvers, term loans, bridge & acquisition financing, project finance, synthetic leases etc. There is also the syndications team and sometimes the leverage finance team. Hours are normally 55-65/week with some occasional late nights and weekends. You spend half your time working on new transactions, and the other half doing annual reviews on your existing portfolio of clients. A lot of wining and dining, since its more of relationship management rather than a one time transaction. Downside is you do minimal financial modeling, and have much fewer exit opps than IB. Most people end up working for 5-10+ years since they don't burn out as easy. Apologize for the poor grammar, just rushed this. Hope it helps.

Oct 29, 2015 - 6:55pm
TxAgCRE, what's your opinion? Comment below:
canadiangraduate:
Depends from bank to bank, some have it as a completely separate group and others have it side by side with the IB group. There are different groups among CB, like trading room credit in which you help manage a portfolio of clients that trading facilities (i.e. contingent/uncommitted) to accommodate the exposure of derivative (foreign exchange forwards, interest rate swaps, credit derivatives, etc.), securities lending, repo transactions etc. This group works closely with the trading floor and usually manages the relationship. There are also the normal industry groups most people work for, like mining, real estate etc. These groups lend to corp clients through revolvers, term loans, bridge & acquisition financing, project finance, synthetic leases etc. There is also the syndications team and sometimes the leverage finance team. Hours are normally 55-65/week with some occasional late nights and weekends. You spend half your time working on new transactions, and the other half doing annual reviews on your existing portfolio of clients. A lot of wining and dining, since its more of relationship management rather than a one time transaction. Downside is you do minimal financial modeling, and have much fewer exit opps than IB. Most people end up working for 5-10+ years since they don't burn out as easy. Apologize for the poor grammar, just rushed this. Hope it helps.

Thanks for this, very helpful!

"There are only two opinions in this world: Mine and the wrong one." -Jeremy Clarkson
  • 3
Oct 29, 2015 - 7:04pm
JohnDough, what's your opinion? Comment below:

Not to nag or be annoying but I really couldn't help and ask. I noticed you wen't to Laurier and Waterloo for Bussiness&Math which is w/o doubt a respectable degree in both fields - that being said, coming out of either school it seems as if the hype between the big four(Queens, Rotman, Ivey, and Shulich) is pretty much irrelevant considering you didn't go to neither of the four. You wouldn't mind me ask from experience what advice you'd give to someone in the hopes of breaking into banking? Sorry if I got off-topic with the thread, it's just I'm really worried I didn't get into Rotman and kind of stressed that I have to take Economics under Social Science (BA) in attempt to transfer after first year to Rotman (Bcomm). Thanks in advance man!

J.Dough
  • 1
Oct 29, 2015 - 6:56pm
Vilma, what's your opinion? Comment below:

Can anyone comment on the validity of the above numbers? I thought most Corporate Banking analyst salaries were around 60k total.

  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank: Chimp
Oct 29, 2015 - 7:08pm
Anonymous Monkey, what's your opinion? Comment below:

Those salaries are probably accurate. Remember that the CAD is weaker than the USD

Oct 29, 2015 - 6:58pm
Cries, what's your opinion? Comment below:

Vilma, any chance you interviewed earlier today?

Either way, WF is highly negotiable. Ranges from 60-75k base for first year analyst, plus 10%ish bonus and a signing bonus

Array

Oct 29, 2015 - 7:10pm
armour65, what's your opinion? Comment below:

Corporate Banking Compensation (Originally Posted: 11/16/2009)

Can anybody offer any color in regards to total analyst compensation (at a bulge like BOA, JPM, Citi) for Corporate Banking? I saw some figures from several years ago but was curious if anybody knew of updated numbers?

What I'm thinking:

Base: $60,000 Sign-on: $5,000 Bonus: $15,000-25,000

Total: $80,000-90,000 first year

Oct 29, 2015 - 7:11pm
ballersdontlie, what's your opinion? Comment below:

you're being very generous in the bonus department.

you should know that corporate banking generates relatively little revenue. while base can very from bank to bank (although 55k is a good ballpark) you should expect a bonus of ~5k.

Oct 29, 2015 - 7:12pm
l2010, what's your opinion? Comment below:

agreed with the above, i had a friend that accepted an offer with one of the banks you mention and the sign-on wasn't even that high

Oct 29, 2015 - 7:13pm
Monopolisf, what's your opinion? Comment below:

You cannot compare corporate banking at BAML and Citi with JPM. JPM is in a league of its own. One of the hallmarks of JPM's platform is the strong partnership between the Investment Bank and Corporate Banking. The latter generally adds significant value with respect to winning capital markets/financing fees for tier 2 clients.

JPM Corporate Banking analyst bonuses range from ~$15k for middle-rank 1st year analysts to ~$40K for top-20% 3rd year analysts. Salary is in line with the broader corporate banking market. Unfortunately, I don't have any insight regarding signing bonuses.

Good Luck!

Oct 29, 2015 - 7:14pm
Ruby04, what's your opinion? Comment below:

ANYONE HAVE UPDATES ON THIS? 2010 CORPORATE BANKING FIGURES?

Oct 29, 2015 - 7:15pm
tgcl, what's your opinion? Comment below:

im going to try and revive this thread, anyone got any 2013 data?

Oct 29, 2015 - 7:17pm
UncleKevin, what's your opinion? Comment below:

You have a shot at the larger firms but Corporate Banking is underrated. If you can break into BB corp banking the pay is great. Work long hours early on but eventually your job becomes flying around the country for dinners, golf, and fishing. The pay is 200+ by age 35. Def not as much as the big boys in IB, but not a bad life!

Oct 29, 2015 - 7:19pm
deaf, what's your opinion? Comment below:

Is this still accurate today? How exactly do you break into BB corporate banking?
Still interested in this as I am expanding my options.

Oct 29, 2015 - 7:18pm
aquamarinee, what's your opinion? Comment below:

I interviewed with PNC also for a first round in corp. banking/capital markets and they told me that their summer intern interviews would take place mid-late Feb. When was your super-day?

Oct 29, 2015 - 7:20pm
Pienaar21, what's your opinion? Comment below:

I had a friend do corporate banking SA for a BB for one summer and applied for IB analyst and got the job in the fall.

Oct 29, 2015 - 7:21pm
Morrah, what's your opinion? Comment below:

You don't get paid quite as much in Corp Banking as you do in IB, base salaries are the same though (in most BB), but salary varies. 1 year is between 20-45K for analysts, going up by 10k per year for the other two (salary goes up by 10k as well per year). You work on avg about 60 hours a week, so all in, the work life balance is unbeatable for the pay. People tend to stay in CB, because exit ops aren't as good as IB, although some go on to Mezz funds or Credit Funds, or Corp Treasury. If you stay in it, you'll be making the same base salary as any IB VP, Dir, or MD, but your bonus is still smaller. MDs make $400K base, with bonus around 300K. Pretty good for only working 9-5:30 M-F, with travel in between.

Oct 29, 2015 - 7:22pm
Anal Analyst, what's your opinion? Comment below:

Corporate Banking Career Path/Salary? (Originally Posted: 10/31/2010)

Hi,

I was wondering what the career path and salary is for someone who wants to exclusively work in corporate banking and loan syndications. If anyone has info, please share for a silver banana.

Thanks

Oct 29, 2015 - 7:27pm
ibddddd, what's your opinion? Comment below:

hey sherminator, whats the average corp banking bonus. so your friend would be earning 80k+40k?

Oct 29, 2015 - 7:28pm
hw7457, what's your opinion? Comment below:

Corporate banking total compensation (Originally Posted: 12/30/2013)

Hi,

I'm going through the recruiting process and I am wondering what the total compensation in corporate banking looks like. I understand the base is 70k, but I'm more curious as to what the bonus looks like. Specifically for Citi CB and BAML CB.

I've looked through the forums and picked up pieces of information, but there doesn't seem to be any strong consensus.

Thanks in advance.

Oct 29, 2015 - 7:29pm
Texas Tea, what's your opinion? Comment below:

Not as much as some say... ~20k max split between signing and 1st year

Oct 29, 2015 - 7:30pm
hw7457, what's your opinion? Comment below:

Doesn't that seem a bit low given that signing alone is 10k?

Oct 29, 2015 - 7:31pm
Texas Tea, what's your opinion? Comment below:

Yes but let's be honest it's not investment banking, you're not working 80+ hour weeks you're working 50-60 hours weeks. You're not earnings multi-million dollar fees on each transaction, you're earning multi-thousand dollar fees and the interest on each loan (which is not free, you only really make the spread).

  • 1
Oct 29, 2015 - 7:33pm
torchic, what's your opinion? Comment below:

Texas Tea:

Yes but let's be honest it's not investment banking, you're not working 80+ hour weeks you're working 50-60 hours weeks. You're not earnings multi-million dollar fees on each transaction, you're earning multi-thousand dollar fees and the interest on each loan (which is not free, you only really make the spread).


def cuz every ib transaction you receive millions in fees
CB fees are pretty good 2

ignorant statement

speed boost blaze
Oct 29, 2015 - 7:34pm
yeahright, what's your opinion? Comment below:

This isn't true at all. JPM CB first years work 70-80 hours a week on average. Bonuses 15-30k not including sign-on. I'm sure other BBs are right on par with this.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
Oct 29, 2015 - 7:32pm
CuriousAnalyst, what's your opinion? Comment below:

I know of some people in CB working hours not too far from bankers. Could depend on the firm..

Array
Oct 29, 2015 - 7:35pm
Texas Tea, what's your opinion? Comment below:

I speak from experience in BB corporate banking, maybe I was just at the wrong bank. Didn't know anyone in the same position at other banks so maybe you're correct.

Oct 29, 2015 - 7:36pm
blacknova1993, what's your opinion? Comment below:

BB Corporate Banking Salary+Compensation, and interview review (Originally Posted: 02/19/2015)

First, I want to start off by telling about my interview experience at BB Corporate banking summer internship process. 1. OCR interview- very formal, fixed set of questions - Market related - Financial Statements and how they flow to each other - Situational questions, mainly on teamwork and hardships

  1. super day- Pre interview networking event followed by actual interview the next day.

- As much as I think it's important to meet everyone on the networking event, I think the key is to find people that you enjoy talking with and try to have a long conversation with them. - Interview set of fixed questions, and typical questions such as why us and why corporate banking. Tip would be to make a personable stories and be coversational. Don't present yourself so that it looks obvious that you memorized the whole thing.

My question is that how much Corporate bankers really earn? I have seen many posts about this but they varied so much. Someone said 70k/10k/25k-45k but also saw other posts saying 60k+ very little bonus and signing bonus. Can someone working in BB Corporate banking confirm salary+bonus?

Oct 1, 2016 - 1:01pm
Trueace, what's your opinion? Comment below:

Can someone give me an idea where this role would fall in the structure salary wise? It is a Portfolio Manager 2 role with Wells. Is this an Associate level role or AVP etc?

For Citi but if had to guess for Wells where would it fall here? 1st year Analyst: 10k sign on (same as IB) / 85K Base (same as IB) / 25-40K bonus 2nd year Analyst: 90k base / 45-60k bonus 3rd year Analyst: 95K base / 65-80K bonus (if you stay through full 3rd year - many are promoted to associate in Jan) 1st year Associate: 40k sign on / 125k base / 75-100k bonus 4th year Associate: 165K base / not sure 1st year VP: 175K base / not sure

The Corporate Banking Portfolio Manager 2 will focus on structuring and executing transactions and support more senior staff with financial/credit analysis for corporate customers. Duties may include: representing the bank in developing and maintaining client relationships with smaller/less complex clients; actively participating with more senior staff in the completion of transactions for the most important clients; reviewing and interpreting credit policies and procedures and incorporating requirements into credit analysis, observations and lending recommendations. In support of more senior staff, performs or guides credit underwriting work of more junior staff in accounting for all risk factors and providing risk rating recommendations. Responsible for developing presentation materials for client meetings and internal discussions; may take ownership of and lead follow-up items with a client after a call; sees items through to resolution to support broader deal team/organization. May direct junior members of team to help with client meeting material preparation.

Required qualificiatons: 2+ years of experience in one or a combination of the following: underwriting, credit, relationship management, or portfolio management; or successful completion of Wholesale Credit Management Training Program

Nov 10, 2016 - 5:56pm
theCorporateBanker, what's your opinion? Comment below:

Bonus season is nearing.. overall, was it a good year for you corporate bankers out there?

Banker and blogger @ thecorporatebanker.com
Nov 10, 2016 - 8:14pm
thegreekfreak, what's your opinion? Comment below:

Looking at these responses I am in shock. I got offered 60k +5k sign on and ~5-10% EOY bonus with the BB I interned at. Guess it varies between banks.

Dec 25, 2016 - 3:24pm
B-Line, what's your opinion? Comment below:

2nd year analyst at big 5 Canadian bank in the US - 80k base (flat base salary for 1st to 3rd year analysts), 35k bonus. 60 hour work weeks, very few work weekends, so can't complain.

Jan 24, 2017 - 9:36pm
TXhedge1288, what's your opinion? Comment below:

Going to revive this topic... at the AVP level at a BB bank in Credit within Corporate and Investment Banking group. Currently make $100k base with 20-25% bonus. Have an opportunity to move into Corporate Banking within the bank... before I attempt to go down the rabbit hole I have a couple questions.

1) Currently an AVP/Associate, what will I likely go to in Corporate Banking? Will I remain at that level or drop to a 2nd or 3rd year analyst?

2) What will the pay difference be between what I am making now and what I should expect to make? From reading this thread, seems like if I come on as AVP, should expect somewhere between $160 and $200 all-in? What about 3rd year analyst? I am not at JPM, one of the other BB.

Best Response
Apr 10, 2018 - 11:41am
Morrah, what's your opinion? Comment below:

BB Corporate Banking Compensation Update (at least at my firm): * 1st Yr Analyst: 10K sign-on / 85K base / 25-40 bonus * 2nd Yr Analyst: 90k base / 30-45 bonus * 3rd Yr Analyst: 95K base / 35-50 bonus * 1st Yr Associate: 40k sign-on / 125K base / 50-60 bonus * 2nd Yr Associate: 140K base / 50-60 bonus * 3rd Yr Associate: 150K base / 55-75 bonus * 4th Yr Associate: 165 base / 60-80 bonus * VP: 175K+ base / 80-110 bonus * Director: 225K+ base / 125K+ bonus * MD: 400K base / 300K+ bonus

These are confirmed, but of course vary from firm to firm. This is for one of the highest paid BB CB firms on the street (this is not commercial banking salaries).

Would encourage those who are interested to give BB Corporate Banking a shot. IB is not for everyone. With all the turnover that IB has, I've had more than a few offers over the years to switch to our IB group on our floor, but have chosen to stay where I am. Not everyone in CB is trying to get into IB. CB is a lifestyle banking career path, which means you may not get paid quite as much as the guys in IB sitting on the same floor as you, but you are also averaging leaving the office between 8-9pm every night as an analyst (sometimes very late nights), and rarely do you HAVE to work on the weekends if you are efficient with your time and have a good group. I did 3 all-nighters as an analyst - that's it.

If you want to go to private equity, go to IB. But don't come on these boards and bash CB because they aren't IB and don't have the same exit ops - just like I wouldn't buy a sports car and bash people who prefer trucks and assume that everyone wants a sports car. That's the point, they are different for a reason. For someone who actually wants a life and to see their friends and family, I couldn't think of a better career path for ME. I get to travel internationally, attend very interesting client meetings with senior execs, work on a ton of interesting transactions, and get paid well. Works for me.

  • 14
Apr 11, 2018 - 2:10pm
OverCompensatedTeller, what's your opinion? Comment below:
Morrah:
BB Corporate Banking Compensation Update (at least at my firm): * 1st Yr Analyst: 10K sign-on / 85K base / 25-40 bonus * 2nd Yr Analyst: 90k base / 30-45 bonus * 3rd Yr Analyst: 95K base / 35-50 bonus * 1st Yr Associate: 40k sign-on / 125K base / 50-60 bonus * 2nd Yr Associate: 140K base / 50-60 bonus * 3rd Yr Associate: 150K base / 55-75 bonus * 4th Yr Associate: 165 base / 60-80 bonus * VP: 175K+ base / 80-110 bonus * Director: 225K+ base / 125K+ bonus * MD: 400K base / 300K+ bonus

These are confirmed, but of course vary from firm to firm. This is for one of the highest paid BB CB firms on the street (this is not commercial banking salaries).

Would encourage those who are interested to give BB Corporate Banking a shot. IB is not for everyone. With all the turnover that IB has, I've had more than a few offers over the years to switch to our IB group on our floor, but have chosen to stay where I am. Not everyone in CB is trying to get into IB. CB is a lifestyle banking career path, which means you may not get paid quite as much as the guys in IB sitting on the same floor as you, but you are also averaging leaving the office between 8-9pm every night as an analyst (sometimes very late nights), and rarely do you HAVE to work on the weekends if you are efficient with your time and have a good group. I did 3 all-nighters as an analyst - that's it.

If you want to go to private equity, go to IB. But don't come on these boards and bash CB because they aren't IB and don't have the same exit ops - just like I wouldn't buy a sports car and bash people who prefer trucks and assume that everyone wants a sports car. That's the point, they are different for a reason. For someone who actually wants a life and to see their friends and family, I couldn't think of a better career path for ME. I get to travel internationally, attend very interesting client meetings with senior execs, work on a ton of interesting transactions, and get paid well. Works for me.

How would these comp ranges change for regional corporate banking? What about hours? Thanks for the update on BB CB and the comp structure. SB'd

Apr 12, 2018 - 1:22pm
Morrah, what's your opinion? Comment below:

From what I've heard, hours are less and so is compensation. Sometimes significantly less for both. Don't have an estimate.

Apr 12, 2018 - 2:41pm
JuicyJuice, what's your opinion? Comment below:

You have to be careful as some groups say they are corporate banking but much closer to just larger commercial.

Corporate banking should be in the Investment Banking Group. There are some exceptions tho.

Apr 12, 2018 - 1:34pm
Morrah, what's your opinion? Comment below:

I've seen people go just about everywhere. Most commonly for people who choose to leave CB, they stay within banking but within other groups (DCM, IB, Lev Fin, Risk).

For those who leave banking, they usually go to a credit fund or into the corporate world in Treasury or Corp Dev / Strategy. Have also seen people go to join fund of funds, PE, hedge funds, too from CB.

Primary reasons for leaving CB or banking in general from what I've seen is either they aren't getting promoted, or they want a better work/life balance as an analyst.

Apr 13, 2018 - 12:30pm
toblen55, what's your opinion? Comment below:

Dear Current or Aspiring corporate bankers (Aka IB Rejects),

Perhaps in the extremely rare case that you are a very brilliant student, who perhaps did not land IB out of college and settled with corporate banking, then it is maybe possible that 1 out of 1000 of you will land a hedge fund role.

However, I'm sorry to say that most of you corporate bankers will NOT have such optimistic sounding results. Most of you will typically go to treasuries and maybe corp dev/strategy if you're lucky. There is no prestige in CB, and you most likely will not be able to lateral into a legitimate IB Lev Fin group. However, DCM or perhaps a first-year IB coverage analyst role after your two years in CB is potentially within your reach.

You can listen to all the rare success stories that you want from your peers, but they all know deep down that most of the CB team is at a complete dead end. Not to be rude but just dont kid yourselves or get your hopes too high, you'll just get crushed harder when reality hits you. Nobody initially aspires to be a corporate banker, and people certainly are not happy to stay there. That's why in interviews, they often ask "so why Corporate Banking instead of Investment Banking??" -> Inferiority complex. No shit you all wanted IB.

Jun 9, 2018 - 3:12am
Morrah, what's your opinion? Comment below:
toblen55:
Dear Current or Aspiring corporate bankers (Aka IB Rejects),

Perhaps in the extremely rare case that you are a very brilliant student, who perhaps did not land IB out of college and settled with corporate banking, then it is maybe possible that 1 out of 1000 of you will land a hedge fund role.

However, I'm sorry to say that most of you corporate bankers will NOT have such optimistic sounding results. Most of you will typically go to treasuries and maybe corp dev/strategy if you're lucky. There is no prestige in CB, and you most likely will not be able to lateral into a legitimate IB Lev Fin group. However, DCM or perhaps a first-year IB coverage analyst role after your two years in CB is potentially within your reach.

You can listen to all the rare success stories that you want from your peers, but they all know deep down that most of the CB team is at a complete dead end. Not to be rude but just dont kid yourselves or get your hopes too high, you'll just get crushed harder when reality hits you. Nobody initially aspires to be a corporate banker, and people certainly are not happy to stay there. That's why in interviews, they often ask "so why Corporate Banking instead of Investment Banking??" -> Inferiority complex. No shit you all wanted IB.

"Worthless Corporate Bankers. They all want to be me!" ... all said while choking on his MD's sack at 3am on Friday night because a dead-end comps presentation is "urgent" to see by the morning. Lol!

Everything and everyone in IB is so "prestigious" right?! Haha, but what do I know... Based on your profile, you've already joined the elite ranks in banking as a 1st year analyst...

Funniest
May 7, 2020 - 8:52pm
moving_on_up, what's your opinion? Comment below:

Sorry to see that you are so dissatisfied in your role that you need to spend 10 minutes bashing a role that pays very well, offers great experience, and has proven to be a feeder for credit funds, PE, and Corp Dev. You're such a narcissist that you believe each and every professional in the CB division originally wanted IB, get over yourself. I targeted CB in undergrad at a semi-target and worked my ass off networking and resume building with summer internships and student investment fund experience to land a summer analyst role in the CB division of a BB. I got there and worked my ass off again for two months and earned a full-time role with a 50% retention rate against students from Columbia, NYU, BC, and others. The road to CB is by no means a walk in the park, so delete that narrative from your mind. I would never come on this sight and bash any function of a bank because there are students grinding every single day to land an internship or full-time role in that division, whether it be IB, CB, Risk, Treasury, or Compliance and they don't need to come across a thoughtless post and end up getting discouraged. My guess is that you placed lower bucket in your bonus pool and checked this thread to see how you fared against your CB counterparts and were devastated to see that they took in just as much as you if not more while being able to take a week in Fiji and a week in Mykonos while you choked on MD meat at 2am changing the font on a pitch deck from Calibri to Lora.

Apr 19, 2021 - 1:19pm
sirgonzo, what's your opinion? Comment below:

Curious if there is a difference in compensation and how much it is now in 2021. I saw the increase from 2014 to 2016, but I can't find anything for today's pay. 

  • Analyst 1 in IB - CB
Apr 19, 2021 - 2:28pm

Base is in line with IB at banks that house IB and Corp Banking together. Other banks (typically smaller regional banks) pay much less, starting at 60-70k with 5-8% annual raises and 10-30% bonuses. Did Corp. banking at both kinds of banks, definitely prefer ones that house IB and Corp banking together as the comp is greater with only slight increase in hours. 

Apr 19, 2021 - 4:09pm
sirgonzo, what's your opinion? Comment below:

interesting. That seems pretty much in line with what everyone was saying about salary and bonuses in 2014-16 ish. I'm from right outside the city, and definitely looking to go to a bigger bank with the IB and CB housed together. But thanks!

Jun 26, 2021 - 11:02pm
BCBguy, what's your opinion? Comment below:

Can confirm that base at BB is $85k, second tier is around $75k but with better hours (think 50ish average). BB Corporate Banking Analysts still work long hours (60-80 a week). All in comp for BB is around $105-$120k for first-year analysts. For second tier it's about $85-95.

Jun 24, 2021 - 11:57am
whatsapitchbook, what's your opinion? Comment below:

Can anyone provide guidance on Corporate Banking Analyst/Associate/VP/Director Comp for Canadian Big 5 in Canadian Locations for 2021? 

If you're in a top industry group does that enhance the comp?

STONKS
Jul 25, 2021 - 1:59pm
moving_on_up, what's your opinion? Comment below:

I can't speak for Canadian locations, but I am at a Canadian big 3 in Corporate Banking in NYC and comp was up pretty big this year. We just got our bonus number this past week, and I just finished my first full year. A couple of months ago, the firm bumped our base from $85k to $95k, which is now going up by $5k due to year-end raise, so base as of August 1 will be $100k. Cash bonus is $53k, being paid with next week's paycheck. I think bonuses do depend on deal flow of your specific industry coverage. I cover the busiest group of industries (for analysts, my bank buckets 3 industries per "lane"; ex. industrials, consumer, FIG) so your comp will be tied to the performance of your "lane". All in all, good comp for first year out of college. 

Jul 25, 2021 - 9:35pm
whatsapitchbook, what's your opinion? Comment below:
semi-target chimp

I can't speak for Canadian locations, but I am at a Canadian big 3 in Corporate Banking in NYC and comp was up pretty big this year. We just got our bonus number this past week, and I just finished my first full year. A couple of months ago, the firm bumped our base from $85k to $95k, which is now going up by $5k due to year-end raise, so base as of August 1 will be $100k. Cash bonus is $53k, being paid with next week's paycheck. I think bonuses do depend on deal flow of your specific industry coverage. I cover the busiest group of industries (for analysts, my bank buckets 3 industries per "lane"; ex. industrials, consumer, FIG) so your comp will be tied to the performance of your "lane". All in all, good comp for first year out of college. 

Would you mind if I DM you?

STONKS
  • 4
Jan 26, 2022 - 10:30am
B-Line, what's your opinion? Comment below:

Itaque eius minima impedit aperiam. Voluptates et autem aliquid dolores atque culpa cum. Et porro facere qui quisquam dolorem a cumque.

Nov 25, 2021 - 7:59pm
tasstbunny, what's your opinion? Comment below:

Atque accusantium quidem consectetur dolorem id. Quis quis excepturi soluta quia. Aut et laboriosam doloremque dolor iusto enim est. Non corporis fugit quia assumenda aut. Necessitatibus qui qui et animi nihil totam quaerat.

Quo omnis doloribus non qui ut deleniti. Voluptatibus nisi aspernatur cupiditate similique et.

Enim eveniet cumque minima perspiciatis aut molestiae. Esse sint quasi occaecati quos fugiat. Placeat qui unde est.

Feb 9, 2022 - 7:48am
Kirosene, what's your opinion? Comment below:

Quae velit delectus assumenda tempore ab culpa voluptatem recusandae. Eum quia excepturi optio. Aliquid omnis qui in corporis omnis nulla mollitia. Aut deleniti doloribus voluptatem quae.

Similique a inventore fugiat reprehenderit. Laboriosam quaerat molestiae totam et soluta sint voluptatum. Et totam velit amet quia ducimus.

Impedit rem non fugiat vitae. Laboriosam omnis molestiae officia porro voluptatem dolores dicta ducimus. Et officia voluptatibus eum. Commodi soluta quod temporibus quisquam quaerat illum qui facere. Quia consequatur omnis dolor mollitia maxime sit. Quaerat ducimus asperiores est veniam praesentium dolorum a.

Id non molestias perferendis voluptatibus. Consectetur itaque consequatur natus. Saepe fugiat odio voluptatem aut ut harum et. Consequatur laborum quis sed qui velit voluptatem. Nemo aut suscipit ut. Et porro repellendus ut occaecati. Aut quisquam natus minima porro quo facilis est.

  • Intern in IB-M&A
Feb 9, 2022 - 9:01am

Repudiandae nisi dignissimos officiis sit provident sit et. Voluptatem delectus dolor est nemo facere. Neque et est voluptas aliquam et. Sed error aut temporibus. Ea qui rem aut ad tenetur officia repellat.

Debitis voluptatem excepturi quibusdam excepturi enim. Dignissimos debitis iure doloremque explicabo. Et cum id voluptatum ea.

Feb 9, 2022 - 9:19am
tasstbunny, what's your opinion? Comment below:

Consequatur consectetur aut commodi quo vel. Sunt suscipit est accusantium quo consectetur. Enim eaque libero quia quo nemo. Tenetur modi ipsum optio adipisci.

Eius eius qui dolor vero blanditiis omnis. Aut sunt consectetur ut sed deserunt qui minima. Quibusdam voluptas doloremque dolorem qui distinctio porro.

Fuga numquam non incidunt impedit molestiae. Quasi exercitationem odio laborum maiores at et. Id minus atque qui eos ea. Voluptatem et excepturi sed omnis sed. Numquam quia exercitationem cumque. Neque sunt reiciendis qui non.

Molestiae mollitia fugit dignissimos molestias inventore labore molestiae excepturi. Voluptatem aperiam enim in debitis. Exercitationem ut et laudantium. Debitis aut provident distinctio dolor qui. Consequatur sit consequuntur dolores dolores et. Provident dolores eveniet aspernatur sed eum. Id molestias et quia facilis assumenda recusandae quia. Consectetur sit omnis dolore error delectus.

Start Discussion

Popular Content See all

7 Things I Hate About Citi
+386IBby Analyst 1 in IB - Cov
IB Rankings 2022
+138IBby monopolymatters
What was the best job you ever had?
+123IBby Intern in IB-M&A
Meritocracy
+113IBby Intern in IB - Gen
Vapes in office
+92IBby Intern in IB - Cov
Lifting and IB
+76IBby leveragenjoyer
How is everybody on WSO top bucket
+49IBby Analyst 1 in IB - Gen
Sellside / Buyside M&A Process "Checklist"
+44IBby Associate 1 in IB - Cov

Career Advancement Opportunities

May 2022 Investment Banking

  • Jefferies & Company (▲03) 99.6%
  • RBC Capital Markets (▲07) 99.2%
  • Bank of America Merrill Lynch (▲02) 98.7%
  • Lincoln International (▽02) 98.3%
  • Houlihan Lokey (▲07) 97.9%

Overall Employee Satisfaction

May 2022 Investment Banking

  • Jefferies & Company (▲12) 99.6%
  • Rothschild (▲02) 99.1%
  • Truist Securities (+ +) 98.7%
  • Greenhill (▲06) 98.3%
  • Houlihan Lokey (▲07) 97.9%

Professional Growth Opportunities

May 2022 Investment Banking

  • Jefferies & Company (▲04) 99.6%
  • Bank of America Merrill Lynch (▲06) 99.2%
  • RBC Capital Markets (▲09) 98.7%
  • Lincoln International (▲02) 98.3%
  • Houlihan Lokey (▲06) 97.9%

Total Avg Compensation

May 2022 Investment Banking

  • Director/MD (9) $661
  • Vice President (36) $393
  • Associates (180) $246
  • 2nd Year Analyst (109) $161
  • 3rd+ Year Analyst (17) $156
  • 1st Year Analyst (348) $148
  • Intern/Summer Associate (74) $147
  • Intern/Summer Analyst (272) $91