Hi everyone,
I was wondering what starting base salaries for people starting this year? I've heard from friends going to BB's that they are all getting 60K base (Citi/BofA/JPM). I've also heard 70K base from a friend at a top boutique.
What is the norm? And also if you are getting a higher base does this suggest that your end of year bonus figure is going to be smaller?
| +183 | Return Rates For Interns Are Falling? | 77 | 10m |
| +128 | UBS Americas IB: The Kids’ Table of Wall Street | 16 | 20h |
| +99 | I am a drunk MD AMA | 37 | 3h |
| +76 | London IB BB is a challenge | 41 | 16h |
| +63 | VP Lifestyle at Top BB Coverage Groups | 40 | 5h |
| +63 | KISSED MY VP… HELP!!! | 15 | 2h |
| +57 | An Outsider’s View of RX Banking Out of College | 7 | 6h |
| +49 | SharePoint makes IB hours HELL | 15 | 2d |
| +46 | UBS Offer Day | 18 | 4h |
| +43 | momentum of Rx groups | 16 | 10h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
$60k plus $10k relocation.
It probably does have some effect on year-end bonus, but only to an extent.
That's also for a fairly well-known MM bank in NYC.
Standard is 60K plus 10K relocation/signing and for this year probably a 5-15K bonus through the front-offices for all 1st years (salary differentiation doesn't really step in until a few years down the road)
70k base 10k signon - for relatively well know boutique in nyc
no indication of lower bonus (1st years in 06 got 90k like other top buckets at BBs/etc), these guys can just afford to pay more since they don't have huge operations to support, and run very lean
First years at my MM bank are expecting top bucket bonuses in the $40-50k range, only down about 35% from last year. The lone benefit of not being with a BB - they realize they have to pay to keep the talent, and they have the cash to do so.
In '06, first year bonus was $100k - that would be the same total compensation as walters bank, just spread differently.
Interesting, I just learned another person I know who is starting at a boutique in NY is getting 85K + 10 sign on. Seems really high.
70 + 10 for GS/MS. dunno if they're going to get bonuses though at all in the next couple years
60 base 24 housing allowance 10 relocation 3 airfare
Is S&T different? I know a guy going to BofA S&T getting 65k
was he from masters degree?
HK & Singapore are offering pretty sweet deals now relative to other regions. In normal years, the differential bonuses would have taken care of discrepancies in allowances, lower taxes etc.
friend going to barclays, $20k signing bonus, everywhere else is $10k for BB's
Boutiques like Evercore is $75k +$15k signing, although I know a guy who took a london offer when the exchange rate was still 1:2, now he's making $50k
DB S&T is
60k base 5k signing bonus 10k relocation no idea on end of year bonus
usually how much is bonus in hong kong for a BB IBD? say during the good and bad years?
1st year analyst at Moelis & Co.
The world has changed. And we must change with it.
Wow. That is the highest base + sign on for a 1st year IBD analyst that I have ever heard.
How's the bonus at Moelis, is it on par with average street?
Also, can anyone comment on BX and GHL 1st yr compensation?
I got an offer from Moelis, but chose to go to another shop instead. They continually touted that they were very well compensated for the hours that they put in. If I had to guess, it'd be above street.
I'm also wondering about GHL/BX numbers if anyone has them.
I know someone at BX, not a first year analyst, but he says the first years get above street. I think $75K base + $15K bonus. Not positive on this though.
Damn, I need to get to Moelis. Hopefully they'll be looking for some 1st year laterals next year.
I've heard of several offers at Moelis for 1st years which were 60K with 10K signing...so I'm debating the above post
Cornelius, do you mean 1st year associate? 90 + 25 is awfully high.
i was just kidding around.
not a big fan of "my dick is 1/2 inch bigger than yours" type posts
not to say that this was one of those type of posts.The world has changed. And we must change with it.
-
I was all for it. Fuck, for $40k more, I'd go anywhere. I'm poor as shit and I need any money I can get. That really ruins my plan, thanks for the awful joke.
Its all relative. I think we all know that BBs don't employ geniuses in the strictest definition of the word. They get the well rounded, really bright kids. A boutique that hires someone that is the one in a million good will hunting type can pay them whatever they feel like
neither boutiques or BBs employ (or exclusively search for) geniuses in that sense of the word ("one in a million good will hunting type"). and that's not why boutiques pay more either.
boutiques pay more not because they have better talent, but because they want to induce kids who would otherwise go to BBs to go to them.
the only firms that search for "good will hunting" geniuses are hedge funds like DE Shaw, and they give them math tests to make sure they're that smart.
fair,
I meant places like de shaw, and other quant funds.
60+10
Boutiques don't have better quality analysts than BB's and they never did. Just because BB's are taking TARP these days doesn't mean the quality of talent that has been entering has gotten notably worse. Lines of potential interns swill drop hundreds and hundreds of resumes for every analyst spot - regardless of BB or boutique.
NYC Boutique - 75+10
Sed delectus voluptatibus dolor omnis qui optio molestias. In aut ut aut nobis recusandae. Voluptate id doloribus est quae. Eos fuga saepe eos voluptas ex architecto. Tenetur repudiandae rerum ut omnis doloribus. Molestiae quo libero et. Placeat unde at in velit odio et quae.
Deleniti officia sit excepturi. Esse assumenda sapiente dolor.
Dolorem occaecati doloribus tenetur porro. Non ratione qui rerum vero non. Excepturi animi ullam aliquam laborum quidem excepturi nemo at. Minus maiores et sed dolore at voluptate tenetur.
Et et deleniti ut quos omnis. Cumque autem sunt deleniti consequatur nam. Mollitia rerum ut praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Rerum assumenda mollitia qui consectetur non voluptate perferendis omnis. Nemo ipsam molestiae est nostrum quis dicta aut ea.
Omnis ipsa voluptatem ut totam. Ea quod incidunt est placeat. A suscipit natus autem vitae. Non enim et expedita temporibus. Aliquid eos veritatis eaque saepe non alias officiis non.
Vel qui ut amet. Explicabo laborum eligendi accusamus inventore neque. Facere molestiae doloribus sint expedita.