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Career Resources
This article is despicable. Yea most people would love a 44k bonus and we are grateful, but there are MM banks paying out more than that for even middle of the pack performance.
At this point MM pay considerably more than bulge brackets. My understanding is that Baird/Blair/HW type banks are comping their juniors very nicely, and it makes sense - tons of MM deal flow over the past few years, less internal bullshit and back office to pay, and non public too so there is no shareholder scrutiny. Honestly if you are a career banker it’s kind of the place to be IMO
Know a boutique guy who works 50 hrs a week and copped a 50k bonus in T2 city.
MS kids rekt
Definitely agree with this. BBs get you the brand and superior exit ops, but MM is best for a career.
What superior exit ops are BB's really getting?
The BB’s exit to dog shit besides GS/MS and JPM M&A
Bro u really think MS Nat res / energy / real estate is exiting better to PE than CS sponsors
Am at a mid-tier BB and can tell you that while we got absolutely railed on bonuses and I wish I was at any one of the other banks that actually comped their analysts, I still have an amazing job lined up that I know MM analysts would have 0 shot at interviewing for.
Wrote some replies about this before but every interview I was invited to during recruiting was either MF or UMM, and I almost certainly wouldn’t have gotten those looks at other banks (besides EBs). But most of the kids I spoke with who were interviewing were from GS/MS, with a few sprinkled in from JPM/CS/EVR/etc.
Didn’t Barclays / Citi pay the same? How is MS sinking down to their level?
Barclays paid the same, I don't think any other BB other than Barclays and MS came out yet https://www.wallstreetoasis.com/forum/investment-banking/bonus-thread#c…;
EDIT: BofA came out as well
Seems like every BB pay is shit this year
That was for apac
BofA is 75k top bucket. Way above Barc/Citi.
I never really understood the criticism by some outlets on IB salaries. Sure, you are making ~150k, but aren’t you also working 80+ hours a week? Isn’t the median starting salary for top universities (where most banks hire from) around 70k-89k?
So if a normal 40 hour a week job for that demographic pays 70k, why is it so unacceptable that people effectively working two jobs get paid, well, two salaries?
Just off the top of my head I can think of 2 good reasons why this argument is shit:
So the first 40 hours of work are worth a lot less than the second 40 hours of work, which have a higher marginal value. When I’ve gone from 70 hours at work to 90, my health and happiness drop off a cliff.
What? What an awful way to counter my position. As a mof I don’t even think you have said anything that actually goes against what I discuss. My comment literally only said that IB pays so much because you are basically working two jobs, to which you reply that:
1) You pay more taxes because of tax brackets: Well bud, even if you worked 1 hour and made 150k you would still pay the same amount of taxes, idk what you are trying to say with this but it doesn’t correlate at all with me justifying the salary itself.
2) That the hours you work after the first 40 imply more sacrifices:
Again, so someone working two jobs wouldn’t have this issue? As a mof how does this have anything to do with me thinking IB salaries are fair? If anything your off-topic explanation on what marginal value is would justify my stance: bankers are actually underpaid bc the 80th hour should carry a higher pay as to balance the cost of opportunity.
Now beyond this I will mention that idk if you misread what I said, but you have yet to prove anything about my argument (which would be reasons why bankers should not make that much money). Kinda sound like someone who just learnt what marginal value is + doesn’t wanna work long hours bc its not worth it for you. Both items irrelevant to my comment tbh
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