London Compensation
I've tried the search function, but couldn't find much.
Anyway, what do typical packages look like for 1st and 2nd year analysts at the BB's in London? Obviously, bonuses are anyone's guess at this point, but what did packages look like last year?
1st years starting in BB IB this year got 36/37k base and 10k relocation bonus. not sure about this year end's bonus for obvious reasons, but last year in Lehman apparently was 100%-150% for first year IB analysts. all this in sterling, current GBP/USD rate is 2.1.
can't tell how this compares to nyc given ridicolous prices for everything in london. analysts usually flatshare, heard associates often still do that too!
36+6 signing for s&t 1st year
Thanks. What is the step between 1/2 and 2/3? 5k?
And based on the rule of thumb that I have been told to go buy (If something costs $1 in NYC just assume that it costs 1 GBP in London): OUCH.
I thought the quality of life in NYC at $60-70k was poor enough (I try not to pre-spend any of my bonus until it hits my checking account..especially not this year).
Rent is your biggest single expense in London and it's not £1/$1. No reasonable analyst in London is paying £1500 a month in rent.
Also all of my analyst friends in New York flatshare...
36k base, signing (reloc) bonuses go from 4-10k. Bonus was around 100%, so you're looking at 70-80k.
Cost of living is certainly NOT £1/$1 across the board. Rent is comparable to NYC if you know where to look. Your biggest costs will come from supporting those models and bottles. Food is expensive, but you'll be eating in the office most nights.
If you really want to save £ on consumer goods just take a quick holiday to the states and buy what you need. Tickets are as cheap as £200 return
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