Correlation Between League M&A Tables and Bonus
Have any of your found that there's a correlation between your firm's ranking in the YTD league tables and what your ultimate bonus was? I know that league tables can be incomplete or misleading (not all deals are announced; some firms get M&A advisory credit when it was really just a capital raise), but have you noticed that if your firm was ranked surprisingly high or low for that year, then your bonus was also surprisingly high or low for that year?
I mean, there is a implied logic behind this. The higher you are ranked on the table, the more money you made off the deals, provided similar margin on each deal...
I know, but I just wonder how prevalent the "lack of reporting" or "overreporting" is. So if your bank was 15 one year and 30 the next, if that seemed to have nothing to do with your bonus numbers for those two years (plus, I imagine your "group" could have had a good year even if the overall firm did not, so your bonus may have been "high" even though the overall firm had an off year).
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