CS Comp Day
Any expectations for comp day at CS? Any layoffs happening in expectation of quarterly earnings? Discuss here
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If you work at CS, you should watch that cost transformation video - said they are looking at natural attrition to help achieve the 9,000 number so I am guessing no layoff right after bonus. LDN already let go a bunch last week so probably safe to say they are done for now. Bonus number is going to be atrocious though so they can see people out
Is comp day today? I heard its this week but no specific day yet
Comps day is tomorrow
7 Feb?
Comp Day Tuesday February 7th
A lot of teams have been told and guided to expect a “bad” comp day
Such a nonsense post-MBA ASO comment.
What’s the bonus range for ASO1 to ASO3?
Assuming ME level.
Bump
APAC bonuses are out. Hearing around 15-25%. But deferred… 3 tranches paid in April/July/ Oct. RIP.
Hoping it’s better for others.
15% ? Like of total paid / vested over three periods? So like 5%…5%
Yes 15% of base is total bonus figure. Total bonus is split into three payments throughout the yr.
also heard some goose eggs were handed out, no surprise here when MS did the same to a few
15% of base
wow rip CS boyos. you could have made way more in corp dev, HR recruiting, probably even being a TTS instructor (srs)
id quit asap. let the firm go under
ppl quitting is what the firm wants loll
Ehhh lowkey think my friend at cs still makes more/hour than all those considering he doesnt actually have work to do. He legit gets paid a nice base salary to play video games all day.
Deff not getting paid what TTS pays hourly, it’s a lucrative gig
That's awful. Sorry to hear. I guess they were serious when they said they'd be North American focused going forward.
It's true, they were not really affected by the layoffs
I thought CS was doing cash up front with 3 yr clawback. Is that just US or just not true?
Directors and MDs
Above comment seems right, but just to add from a legal perspective this would almost certainly not fly in court for juniors (disproportionately penalizing the employee, an AN/ASO leaving is not the same as an MD leaving) so I would highly doubt it is for anyone except seniors
Raise your hand if you cried in the bathroom a little bit today 🙋♀️
When do yanks get their bonuses?
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Just read an article saying senior bankers had their bonus conversations cancelled lol.
Not a good sign.
Hope First Boston pays better ...
Any news on associate stub bonus?
No stubs for Aso’s this year
.
rip I’m sorry
Is this in North America?
Yes
Omg…
So aso 1 gets 13k payouts 3 times this year? That's like 7k after tax each time.
Hours ok at least?
associates 15-30% base
vp 25-50% of base
Going to have a lot of attrition
This isn’t correct
It is in my group. Confirmed with asos and vps
Probably better off as a consultant
Number out today: ref ASO 1 (ASO 2 now). Coverage NYC. 25k in three installments.
F*** CS
25k total? Or 75k with 25k installments?
Think you are ME?
For EE, 44k / 25% base as ASO1. But yeah, Fxxx CS
25 x 3 or 25 / 3 ?
I mean either way is pretty bad for an associate lol
Oh no
Bottom bucket
Not bottom bucket - have confirmed figures lower for ASO1 (not stub)
OP: 25k total. Like 3x8k. Lol
I'm so sorry, that's actually horrendous, any clue what your peers got?
Have hours been pretty chill at least?
What was top bucket?
Top bucket for ASO1 is $42-48k depending on the group
Not correct. That’s “exceeds” not “far exceeds.”
Hours have not been that chill in my coverage group at least
Curious for other peoples thoughts but what do you do in this situation? CS has clearly underpaid bonuses and wants to naturally see people leave the firm but at the same time the lateral market is terrible. What is the plan of people looking to exit CS especially those who are ASO1-3 who are probably in a tighter market?
Personally I am staying until the next bonus (April 2024). A lot to learn, culture is great tbh, deal flow is decent
You mean until April 2024 bonus, payable in October 2024?
Lol, I am not this person. But curious why the MS.
Otherwise I am lost. Deal is flow is good? Like closing deals or just busy.
So y’all just suffering for prime brokerage’s fuckups.
Yikes. Post tax some of you getting a few k paid out 3 times.
You can buy 3 entry level omega watches!
Some VPs were very happy with 200k+ bonus paid over 3 quarters
Friend at CS heard new vps are like 120k
Can confirm the 17.5K USD associate stub paid over 3 instalments. They also cut some headcount today in my group at various levels. Brutal day. I don’t understand how they are going to retain any good associates
Which group had cuts today?
I heard Canada - and the way he is using “USD” gives me a reason to think so (because us us guys would just take usd as the native currency and wouldnt specify)
can OP cf if this is US or CA? Are analysts involved in the cut?
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