Word is out about many BBs (and MMs?) increasing base salaries especially at the junior level, with many bumping to 95k+ for An1.
Now that this matches the previous EB base offering, does anyone know if any of Evercore/Centerview/PJT/PWP/Lazard etc. will be increasing base salaries?
Thanks in advance!
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Eh unlikely for now given they were the market leaders and have now been caught up to, not surpassed. I don't really think analysts were specifically joining EBs for the 10K bump on base either given it's only a mild difference after taxes (but that's just the logical side of my mind speaking).
I could be totally wrong though and we may see further increases in analyst bases at those firms but also keep in mind, they know analyst talent is fleeting for the most part so why continue to increase the base pay? It's not like that was a gating factor to having them stay in banking.
I think it's more of an ego and BSD thing. While I agree that analysts and associates aren't choosing certain EBs for the extra 10k in base, CVP and Evercore always like to highlight how they pay top end of the street and are better than everyone else. I know a handful of peeps at each of these two and they really have a lot of pride wrapped up in being "better" across multiple facets. IB is competitive, and they may not want to lose that talking point and ego booster (and a key differentiator for things like Vault rankings) over a relatively paltry sum for each An/Aso.
Very true, good point. I'm interested in seeing how much that matters to them vis any potential raises. Maybe 1st years will start on 100 or 110K? Not ridiculous or out of the question but an interesting race to the top type of situation we may be seeing.
bump
Any info on Greenhill?
Any info on comp for Rothschild CHI/NY? I know they seem to toe the line between MM and EB in North America.
Let’s be honest too salary help on retention on some of the shops with tougher hours. I’m definitely sure some people go to CVP over some of the BBs for the pay.
do you guys think EB salaries are going to increase in London? Quite surpassed by US pay for no reason..
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