Moving from regional Big 4 M&A as a Manager to IB at LMM / MM IB (Baird/Alantra/RJ/Lincoln/GP Bullhound) but I'm getting pushed by recruiters on:
1) What are salary expectations (I'm from outside London so have literally no reference point on whats normal - BB IB seems to be talked about alot but not much on lower tiers)
2) Do I expect to go in as an Analyst 3 or Associate
Had a search through previous posts but most seem to be US focused rather than Europe. Sector is TMT if that makes a difference.
Really appreciate any views - just trying to make sure I don't get shafted by a recruiter on comp/level.
The only thing I know is Alantra pays peanuts
Have heard that mentioned a few times on here, how much we talking? peanuts as in salary/bonus or both?
A friend of mine used to work in Credit Portfolio Advisory (CPA) Madrid pre pandemic. The guy earned c. €35k base + 50% as an analyst. He pulled 4ams regularly and complained a lot about the environment
Please note that feedback is outdated, as Alantra has changed a lot in the last 2 years
What level were you at B4? That informs your level now... Regional B4 is sometimes a far cry from London though. Associate is not the same at all the banks you listed also, some of those you'll be "the go to person" with an analyst below you. Others you would be a "better paid, more senior analyst". Associate in London, you will want £80k+.
I'm a Manager in B4 M&A (although newly promoted). Salary is pretty good (£70k in the North, so way outside of London), but bonus c. 20-25%. I hear you on the regional point, normal deal size for us is c. £20m-£80m EV so could be a tough sell to larger IBs but at least have plenty examples of client handholding.
Recruiters obviously try and push you down the path of going in at Analyst 3 / Senior Analyst as it makes it an easier sell to the IB, so just wanted to try and work out whether that's normal of my level/experience and what salary I should be going after. Cheers for the response.
Stick it out for an Associate role, if you want to join a boutique. No brainer.
I know from ppl working at Baird LDN that:
1) AN3: £70k base - bonus likely ~100%
Assoc 1: £130k - unsure about bonus %
2) Unsure - many Big 4 recruits as of late at Assoc level. No harm in reaching out to them to answer your question.
No info on the other banks unfortunately...perhaps similar comp levels?
Is there really such a big jump from AN3 to AS1? How can that be?
Fair question.
From what I understood total comp does not increase drastically between AN3 and AS1. It is just the base vs bonus % mix that changes.
IMO rationale is encourage analysts to stay with the bank. Who does not prefer to have a large base salary rather than being at the mercy of your MD who will decide on bonuses.
Base your salary expectations off of publicly available BB numbers. MM’s pay the same if not more
Thanks this is helpful, the numbers I've heard mentioned are c. £75k - so somewhere in between A3 and ASO which seems fair. Do you have any view on what level someone from Big 4 should be coming over at? (ACA qualified with 18 months deals exp). Obviously ASO is the ideal scenario but don't want to overshoot..
In a perfect world - your bank has set salaries for each position regardless of background. AN1’s at my “MM” are paid £70k base. For AN3 in your case you should be getting at least that, preferably higher. There is a clear market for positions like these and you should make that known to HR
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