heard from an internal source that a bottom bucket analyst at one of the non-Nyc offices received a bonus that was LESS THAN $10k ….. wtf is going on right now?? Ik the market is fucked but holy shit that’s alarming.. granted it is bottom bucket & I know for sure that others in the same office/ analyst class made significantly more but shit man..
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Following, appreciate the info
Well Jamie Dimon is a damn good CEO, sees the carnage that’s coming, realizes his IB has 2x the analysts he needs and is cleaning house.
A bottom bucket analyst is worthless (I don’t mean in a metaphysical sense, just in terms of business value) in a downturn. And he’s taking the view this one is a doozy, which is best listened to. Better from his perspective to save the limited comp dollars for the revenue producers because this year end will be brutal.
This is a tough business and a lot of people that shouldn’t be here (at all levels) are going to face the music. And probably a few unfortunate people who are good too.
I'm personally quite happy with my $25 Amazon gift card this year. Boss was extra generous and gave me two in recognition of my hard work and high performance.
Heard a few people in NYC office got <10K bonus as well for bottom bucket
Can confirm
Rip
Unrelated, but I know of a group of interns (non-IB) that was extended return offers earlier this week and then then rescinded today. Very strange, especially considering not much could have happened in the couple days in between.
Did the people just suck? Lowest number I’ve heard was ~70k on my jpm nyc team
Heard this for JPM Houston
I remember last year too JPM houston had such low bonuses. For the deal flow, the economics are so wack in the group.
Sadly, if one person receives a bonus of $10,000, while his/her peers receive a bonus of $50,000, the message is clear:
Time to move on.
In this scenario, the firm is signaling to the lower-paid person that he/she does not have a future there.
This person should receive it as a sort of gift--it is much less damaging to the ego than being terminated, especially for someone who is one or two years out of school.
Indeed. If your bonus is orders of magnitude smaller than your peers, start looking for other jobs.
Yikes this does not bode well for the industry
This year bonuses will unfortunately not be great. Expect worse than pre Covid bonuses given the raise in salary, lack of M&A this year, and basically shutdown IPO market
Heard anecdotally that there were a few groups with a meaningful contingent of analysts who put in very little effort (continuously unresponsive/MIA, no engagement whatsoever, refused to work weekends, etc.,) so their group actively sought to give them as little bonus as possible.
If someone actually got < 10k, likely went well beyond just underperforming and indicated a serious lack of effort on their part.
These are bonuse - why does bottom bucket just deserve a lot of $$?
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