Credit Suisse Giving 20k Bonuses?
Just saw on Litquidity that CS is giving VPs and below a one-time bonus of 20k and there are also reports that there will be a salary bump for analysts starting in July.
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If this is in fact true, it is much, much, much great than the Peloton bikes that Jefferies offered (which in itself was at least something over the other banks).
Just saw this hit BI (https://www.businessinsider.com/credit-suisse-giving-bonuses-raises-cap…):
"Credit Suisse is paying analysts, associates, and VPs special $20,000 bonuses and raising salaries for all but the most senior bankers, as Wall Street tries to address WFH burnout for junior employees.
Credit Suisse has told some junior to mid-level staffers in its global capital markets and advisory group on Wednesday to expect to receive salary raises and bonuses in the coming months, as Wall Street bosses are taking a closer look at ways to support younger employees during a taxing period of remote work.
The Swiss bank plans to disperse $20,000 bonuses to analysts, associates, and vice presidents, with bonuses hitting accounts as soon as the second quarter of 2021.
A spokesperson for Credit Suisse confirmed the details of the salary raises and bonuses to Insider.
The firm will also increase salaries for people in the global capital markets and advisory group at the director level and below, which includes directors, vice presidents, associates, and analysts.
Salary raises will take effect for directors, vice presidents, and associates as early April.
The raises for analysts specifically, however, will take effect in July, in keeping with their usual timeline.
Under this announcement, managing directors, who sit above directors in the firm's hierarchy, will not be eligible for additional bonuses or salaries.
"Credit Suisse's Capital Markets & Advisory management recognizes and wants to reward the efforts of our people who have not only managed to support our clients through unprecedented deal volume, but also increased our share of the market," the representative for the firm told Insider in an emailed statement on Wednesday morning.
The news was announced to people via a video call on Wednesday morning, in which senior capital markets and advisory leadership, including capital markets and advisory CEO David Miller, made the announcement.
The firm will also implement a relaxed dress code when employees begin heading back to the office, but traditional dress code requirements will continue to apply for client meetings."
bro 20k to the face and a salary bump lfggg shouts to my CS shooters, im just hoping my MM gives me another eco-friendly reusable grocery bag.
Ok it's time we admit that those 13 goldman analysts are fucking legends
Facts, these cs analysts ought to give a cut to those 13 analysts and those jefferies analysts ought to give a wheel of their peloton too
Shout out to litquidity as well
Okay Jamie Dimon....the ball is now in your court please and ty
got a pen and coffee mug from Citi
they still won't give me a 2nd monitor though lol
what the fuck is EVR CVP AND PJT DOING????????????????
Giving their employees bonuses that are already >$20k higher than BB bonuses
PJT implemented protected Saturdays - have been fairly respected thus far too
CS out here paying like an EB now
I know this is to be celebrated, but hopefully you all don't lose sight of the fact that this is just a compensation improvement. Who cares about getting an extra 20 grand in the bank if you're too distressed and tired to enjoy it? Pay bumps are nice, but hopefully there is progress on work-life balance.