New 1st Year Associate Packages
Now that summer associate programs are ending, has anyone gotten a sense of what the 1st year associate packages will be for 2008?
Trending Content - Investment Banking Forum
Career Resources
Credit Suisse - 90K + 10 K sign-on/relocation
CS Offer
95 (base) + 30 (sign on)+ 10 (additional sign on) + 5 (early sigh on) + 5 (summer bonus)
Only 10k?
BoA 80K + 15k s.o./Reloc.
MLynch 95+15
person with offer from BoA - can we please take this offline? My offer was 70K+15K!! Can the offers wary so much?
Citigroup 95k+15k
HSBC 75k+10k
Goldman Sachs 90k+10k
I've only heard 95 base so far (no more, no less: ML,BS,DB,UBS). Have there been more reports than the above on 105 at JPM?
Signing and relocation should be comparable across banks, with 30 sign and 10 relo.
Are your offers in NY in GIB? That seems pretty low considering my roommate's salary for the summer was an annualized $95k.
Which bank are you talking about?
I'm surprised that Merrill Lynch is paying sort of generously this year.
Heard JPM is 105 starting
You would think that all BBs in NY pay the same base. I doubt that CS and GS pay 90k while Citi and ML pay 95k and JPM pays 105. I can understand if GS underpays, but not the other banks. I am sure that recruits can get their bank to match JPM's offer if the bank is serious about recruiting these candidates.
Other than BAS, what other BBs typically pay at the higher range for base salaries? I hear that Lehman and CS are paying 30k sign on and 10k relocation bonus in addition to the 5k summer bonus.
Wow that does seem low. I think most of my classmates for the summer were being paid based on at least a $95K salary or more. PLus, I expected the signing bonuses to be at least $30K.
Does anyone know how this compared to last year?
the firm
Any predictions on what the 1st year associatge bonus will be considering the rise in analyst bonuses this year?
would assume 120+
Last year, associate 1st year bonuses at HSBC in NY were $30-50k in corporate finance.
This led to 70% of the associate class walking out...
95 + 30 + 10 + 5 + 5 for first years starting 2007 fresh out of b-school.
Mine was 95 + 30 + 12 + 5 + 5 at one of the BB's.
clarification--that's sign-on, not the 1st year bonus.
At mine, it was 12 relo, with 30 sign-on. But in addition there's 5 for signing right away, and 5 for an end of the summer bonus.
cause they need to pay more to attract and prevent people from shopping their offers...although 2k is nothing
Hmmmm....that's interesting...$105k starting at JP Morgan and $110k (starting and relo) at ML...I thought JP Morgan and Merrill Lynch were notoriously stingy with pay....
Well I guess I'm wrong. :)
I konw people that got offers at ML for 95k + 10 for relo.
Any word on west coast offers? I've heard it's generally 5K lower than NYC? Is that true? How about boutiques?
I'm a second, or rather first full-year associate in LA - joined in summer '05. Our base was $95k + $30 sign + $47.5 stub bonus (paid in December).
I can't imagine paying any less than last years offer, especially considering how well M&A is doing this year.
I'm curious as to what bonuses were last year from other banks for first-full year associates (6-18 months experience)
I'm at a BB and our offers were the same across the board (LA/SF/NYC etc.)
I know this year for BB it was 95 base 30 sign ... stub is still unclear ??? would love to hear if anyone has info.
The BB in NY I interned at had a 30k signing and 10k relocation with a 10k summer bonus
Some banks (Leh, ML, MS definitely, and maybe others) upped the signing bonus to $40k for Class of 2007 MBAs. So, it's now $95k salary + $40k signing bonus + $10k relo + $5 to $10k end-of-summer bonus depending on when you signed. Then there's the stub bonus that, for Class of 2006, will be around $50k (no way to tell right now how much the stub will be for Class of 2007 1+ years from now). First year associate bonuses (for Class of 2005 grads who are about to get their first real full-year bonus) will be close to $200k (some analysts got $100k this past summer).
Pretty much everyone has gone to 40K for sign-on
250?
Looks like total's going to be like $300k+
definitely more than 70k for associate!! I'm a second year analyst an dI'm making 70k!
The initial post was referring to 2008 packages, I'm assuming you meant 2007...
As a lateral candidate I've been consistently quoted:
$95K Base + $35K sign-on + $10k relocation... expectation of 1st year bonus is about $200K.
Bear in mind, I'm having conversations with banks now as a lateral hire into either a 1st year Associate or even 2nd year Associate (some banks are giving me credit for being 1 year post-MBA and having spent the year in a corporate finance role etc).
Also, I'm not quoting figures for bonuses such as:
"early sign-on" "summer" or "stub" at year end
because these don't apply to me as a lateral.
Also, as far as non-BB are concerned, the base is pretty much the same, actually even a little higher in some cases if they're giving me credit for 1 year post-MBA e.g. $100-110K base. Also, for non-BB the hiring bonus is $20-$25K. Not a fabulous sign-on, but again, this is for non-BB, less hours etc.
Finally, right now I think west coast (LA) and other cities (NYC, Chicago) are exactly the same. I see no difference.
They seem to match NYC. From sources at ML, Citi, and LB in London
Signing: 40K USD Summer Bonus (if you were an intern): 10k USD Relocation: 10K USD Salary: 60K GBP Stub Bonus: variable
My offer as a 1 yr assoc at UBS and BAS in NYC:
Base 95K Sign-on bonus 40K Relocation 10k
Looks like associate pay has gone meaningfully up even from pre-crisis levels
Alias incidunt odio sed et. Voluptatem omnis eaque repudiandae aut deserunt.
Placeat molestiae quis nostrum nesciunt molestiae quo. Repudiandae eaque minima praesentium sequi cumque id aut. Quia dolorem possimus facere dignissimos.
Quos aliquid aut dolor quidem. Iure et blanditiis porro quia qui inventore. Nisi earum nihil quis aut. Numquam fugit ut qui exercitationem. At placeat ut qui voluptatem sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Cum ullam ut quia harum. Blanditiis aliquid maxime soluta corrupti vero soluta laborum molestiae. Aliquid quia ipsa et voluptatem quis. Ut voluptatem deleniti reprehenderit sit voluptates quo doloremque.
Nemo quidem quia beatae totam iste laborum. Ullam corrupti magnam occaecati eaque sit.
Ducimus rerum eum eligendi qui sint consectetur animi. Et vel nulla atque pariatur voluptatem itaque aut. Non ipsum iste rerum esse est veritatis. Non non harum dolorem odit est.
Est inventore occaecati incidunt at delectus. Ipsa omnis et est ea quia placeat.
Cum placeat animi est similique. Maiores eaque quo nobis illo amet. Dolor ea molestiae corrupti pariatur magnam quis quasi voluptates. Quo cum consectetur sit non aspernatur.