There's not much info out there about corporate banking on this forum. I'm curious to see if CB got a part of the recent wave of pay bumps.
Please state:
Title (with year):
Bank:
Base:
Bonus%:
| +249 | Earliest you can get fired | 46 | 36m |
| +233 | Are target prospects getting dumber? | 44 | 54m |
| +224 | MBB Pay Raises | 47 | 55m |
| +209 | Career Crossroads | 25 | 59m |
| +207 | US 2027 SA IB worried about background check | 47 | 53m |
| +201 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 41 | 1h |
| +195 | Investment Banking is Divine | 33 | 39m |
| +192 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 38 | 1h |
| +191 | How do YOU manage networking requests? | 28 | 1h |
| +191 | Another $115bn Mega deal for these banks. Congrats! | 39 | 47m |
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Analyst 2
MM
95k
~20-30%
is this BMO
No. Do you have BMO info?
Start next year:
AN1
85K
10K (sign-on)
lmaooo corporate banking pays like absolute shit compared to IB. First years making 200K+ VPs earning $600K+ while we get $100K as analysts and VPs $250K for almost the same amount of work.
Yeah but you have no life
As long as you’re working at a CB that’s seated with the IB (like JPM/Citi/ maybe BofA) you’ll be clearing 100k base not including your 10k signing. Only divergence is YE bonus, but if you’re at a good shop/group. You’ll pull 40-50% bonus while IB might pull 50-70%. You’ll still work at least 60-70 hrs a week early on, with some weeks easily being more. And it ramps up over time definitely as you get to the end of your first year/ second year.
Why are you working that much? You need to change banks
I got into the office at 10 and left at 4 this Tuesday. This was the designated “in office” day. I check emails and will respond when off but I’m not glued to my phone. Don’t work weekends.
I think pay to WLB in CB is as good as it gets for a career in finance. At my BB the pay differential between CB and IB is minimal up until VP assuming you are top rated. My An1 compensation was $160k and given not in NYC that goes a long way. Plus with recent base pay increases, especially at the associate level, comp is better than ever.
Just have to make sure you are at a bank where CB is grouped with IB and they’re not notorious cheap asses like BMO.
Which banks in Canada pay that high for CB?
Can’t comment on Canada unfortunately. At my BB the Toronto office got pay rises in-line with the US (new An1 base 100k).
Bunp
If you’re working anything close to IB hours in CB you’re at the wrong bank.
I’ve worked in both groups at the same bank (CB and IB) and the Analyst/Associates in CB would work 50-60 hrs, whereas IB Analyst/Associates would be working 80 hrs, if not more during a busy period.
What type of bank? What was your pay across your roles?
Start during Summer 2022
LCOL city
AN1: 85k
Sign on: 7k
Target bonus: 10-15%
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