Let's talk associate bonuses
Know a few are out, including JPM and RBC. Post your number and year (assoc. 0,1,2,3).
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what was yours?
+1
What are they?
Not enough bankers on here to care...
I get mine today (London, BB). Will post once I have it!
just picked up a summer associate position at JPM. would love to hear bonus numbers from current ASOs.
London - this is what I have heard
GS 1st yr (not sure what rank) - £170k all in (total comp)
Citi and JPM 2nd yr (top ranked) - £240k all in (Citi apparently all cash, JPM 25% deferred [or equity?])
MS 1st year (mid to top ranked) - £180 - 195k all in (big deferrals and small equity portion)
^holy shit at citi and JPM! Thats like 370K USD.
I was going to say, that's pretty high when you factor in the dollar/pound conversion. What's the base for London?
Newbie question: what do associates do that analysts don't? Same hours?
Create work
Think of it like an Army Sergeant and a Private--similar jobs, but one tells the other what to do (especially if it's something the Sergeant doesn't like doing). At the end of the day, the Associate is one more rung closer to being a General.
A seargent is a bad comparison to an associate. A seargent earned his stripes and knows from experience. A 1st year analyst who is new is like a private, while the 2nd and 3rd year analysts are like the mid-level enlisted who really know their technical well. An Associate is like a brand new 2nd Lieutenant (2LT) with no prior experience, yet he is in charge of the enlisted. An associate/2LT may be the one in charge, but he can't fire anyone, and if he pisses of the analysts, they can make his life hell. If the analyst/enlisted screws up, the Associate/2LT takes the hit from above. On the flip side, the associate is being groomed to be a higher-up leader and is valued for his task management and soft skills more than his technical skills, the same way a maintenance officer is not expected to know how to take apart and engine as well as the junior enlisted trained to do that one task over and over and over (like a monkey analyst). I am a hopeful associate in the next few years, and it seems that the best way to be, whether in the military or at a bank, is to take the position that the more you take care of your people, the more they will take care of you. I would hope that if I am willing to burn the midnight oil along side my analysts, and be their shit screen from VPs/MDs, they will double check their work so I don't look bad, and be patient with me when I suck at doing what they do best--and most importantly understand if I task them with something it is because it came from someone much more important than myself.
Fantastic comparison
Well according to this site I am a King Kong what does that make me... like a Norman Schwarzkopf?
No, more like Colonel Custer
Happy--do you get like a notification whenever I post? It seems like you are always the first to reply lol
I'm always the first to reply...its easy when I'm watching you....go ahead, think I'm joking
Something ridiculous like 900 banana points in the last 30 days implies he's the first to reply on EVERYBODY's post ;)
Fuck you dude I am INSANELY productive at work. I'm just that good...trust me.
Haha
I wonder if putting "achieved almost human status on WSO" is a good bullet for a resume lol
I usually just go with the following if WSO comes up, "Oh, you know me *wink". 60% of the time, it works all the time.
Even better when you can say you did it in only 2 months, lol.
Regards
I guess that works, I always thought of it as
Analyst-Private Associate-Sergeant VP-Captain ED-Colonel Plain old MD-Brig. General MD that is head of multiple desks-3 Star MD that is head of product group-4 Star CEO/CFO-5 Star
I think I put way too much thought into this......
Go with this.
Analyst - Private Associate - LT VP - 2 LT ED - Capt MD - Major MD head of multiple desks - Lt. Col MD Head of Product Group - Col. C level - General
I think this is pretty spot on.
Regards
LT>2LT but still solid list
I'd change it to this: Back Office/Mid Office/BigLaw Lawyer (bahahaha)- Private Analyst - Sergeant Assoc - Second Lt
Not getting enough oxygen up in them mountains I see
Its ok Gekko you can call me Norman.
Heard it was a bloodbath at MS.
My intention was to use LT as both 1st and 2nd LT since both, usually, serve similar functions (PL, Co. XO, etc.)
Woah a friend of my brother is a VP at Citi London and he just said that he got 220K GBP bonus on top of his base. What is the base of a VP in London?
Are you saying 2.2mil or 2200 pounds?
can we focus on the numbers instead of military comparisons? If anything can that go into another thread?
dude you are fast. lol, anyway I fixed the typo. Its 220K, not 2.2M
Don't think too many people would post their numbers like this...isn't there a way to poll anonymously and post the results?
Just doing the typical, asshole-ish "make fun of BO/MO/lawyers" routine. Gotta be an asshat sometimes, keeps things interesting
Getting slightly back on topic...................Anyone have bonus numbers for JPM ASOs (0,1,2,3) for NYC office?
So what the hell are your numbers, lieutenants?
Holy shit at Citi and JPM's numbers!
What's a VPs base at Citi London? Brother's friend claims he got 220K GBP on top of base for bonus. He says that he heard rumors that top VPs got close to 300K bonus. Can this be right?
No idea what base is but 300K on top of base is certainly possible for a VP. My understanding is that VP's in the US get 400-800K. Assuming the base is 100K and his bonus was 300K, that would put him at around 640K in USD.
BUMP....Does anyone know any more numbers??? And where would Sergeant at Arms John Blutarsky fit into this hierarchy
top VP's can top $1 mil
^that's definitely possible for a VP. It's not uncommon for a VP to make 500k... and I've heard of 750ish. Not sure about $1 million for a VP in IBD as mentioned above... but I've heard of that in PE (for a VP with carry at a successful fund)
My numbers were TOTAL comp (including bases) - so of those JPM and Citi numbers c. 85-95k are base. The bonuses are still v healthy.
One more - top ranked 3rd yr associate at MS - £270k (but 60% of the bonus is deferred / equity). Again - total comp number.
Friend of mine at a competing MM bank got 1x (3rd year). Still waiting to get mine.
fyi, the total numbers don't mean jack, deferred comp portion is scandalous The banks know their average payout will be much lower than promised because of the 2-4 yr earnouts, so they are promising big bonuses.. don't be fooled. 1st yo assoc is like 80 base + 80 bonus = 250K in dollars for those doing the math
You mean 180k base or bonus...Coz 80k + 80k = 160k. And even with 180k + 80k, it's 260k. Some mistakes there...
The deferrals are not large across the board. Citi, JPM and GS didn't defer anywhere near as much as MS (and CS will) for example.
He is talking about pounds
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