No bullshit - London bonuses
Can we please do a thread where people are honest about their bonus this year....(London only). It goes “Title/bank/rank/bonus(in £)/base(in £)”
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Please be honest. I don’t wanna see any “AN1/BB/Top/180k/50k”
AN1
100k base 200k bonus.
I couldn't resist.
noooo lol
Intern £300K base £1-2M bonus depending on deals I source MM Bank
All jokes aside, I know the compensation of a friend in London IB and it is as following:
AN1 Base: 50K Bonus: 15K European BB
All in GBP btw
stub bonus? that’s super low otherwise
Daaaamn, all-in is less than the base of an AN1 in the US
What the hell. Why would anyone do banking in London
this is approximately street in london fyi. base/bonus may fluctuate by 5k.
Thank you for the first ever honest comp datapoint re: London salaries ever to hit this website
This is pretty clearly a stub bonus.
Newbie here, what does AN1 mean?
2 threads and only 1 data point. This is shambolic.
Right?
Associate 1 —> 2, £90k base, £85k bonus. Product group at Mid Tier Full Scale. 9am - 8pm most days, product team and 27 days holiday all taken last year (in case helpful for US names).
Despite all the news analysts / associates protected across most banks.
Some MM boutiques still paying ridiculously (150%)
Not sure what Mid Tier Full Scale means but for 8am-9pm thats pretty good pay!
Well MMs paying 150% bonuses absolutely abuse their employees - churn is usually very high in these places soo...
Mid tier non bulge full scale IB
Yeah work life is good for the pay but exit ops are the deficiency versus top BB
Agree the MM names are still juicing so each to their own preference
And to clear up some others ranks:
Analyst 1 - £53k base, £30-41 bonus depending on Tier Analyst 2 - add 4K and Top Tier 100%
Keen to understand VP/D bonuses in London as understood those were hit in the rounds at the expense of maintains Analyst / Associate pay
AGREE - interested in VP / D pay and bonus numbers in London.
My VP3 all-in comp at a top US BB for the past year was ps340k. Pretty disappointing if you compare to the US at current exchange rates and is about the same as what I made as a VP1 back in NY.
However I think the fact of life in London is that you need to make the conversion at 1.6 instead of 1.3, i.e. before the Brexit vote, when comparing numbers to the US. Looking at the current rate really only affects you (vs. pre-2016) if you vacation in the US.
AΝ1 EB
Base: 52K Bonus: 25K
stub? Or is it just low?
I'd imagine all AN1 are stub since they start in the summer?
large EU bank analyst 1 PS50k salary bonus 0 analyst 2 PS55-60k bonus PS5k analyst 3 PS60-65k bonus PS15k (normally people leave after analyst 2 to other banks once they have gotten 18-24 months at this brand name bank hence bonus etc rises to keep people on)
that seems really low
.
There you go:
https://www.arkesden.com/asset/8416/download?1553598556
This is great, shame it does not include EB’s - anyone have any reliable info?
bump
Analyst 1, US EB: £55k base, £5k signing bonus, £30k-40k bonus
Damn!! That’s the best you can get in London! Congrats
Not quite - I know some relatively unknown boutiques (non-EB) paying £60k base with 100% bonus
Thought the US EBs payed closer to 120k. Was this a bad year? Greenhill or moelis?
An 2 : £55k / £45k bonus An 3 : £60k / £60k bonus
Ass 1: £90k / £100k bonus / £20k stub
Ass 3: £115k / £80k bonus (awful year across the floor / industry)
Bank tier 2 / 3. I get 25 days + of holidays (all taken, rarely worked during holidays) Today 9-10am to 8-9pm but a lot of variability
European bank?
Nope, US mid-market.
is your group generally ok with you leaving in the middle of the day to go to the gym
Low tier bank:
An1: 50k base / 16k stub An2: 50k base / 50k bonus An3: 50k base / 65k bonus
As a slight aside does anyone know what bonus % are at the Big 4 M&A teams for the U.K.?
Would also like to know
For analysts, it's usually around 10%. It is more variable after analyst I believe
10%, around 5% from memory
European BB, all in GBP Analyst 3: 60k base, 40k bonus Associate 1: 95k base, 60k bonus VP 1: 150k base, 105k bonus
Any insight into how bonuses in London will be impacted in this coming cycle?
IBD Analyst 1: £50k base and £5k bonus (4 month stub)
IBD analyst 2: £55k base and £25k bonus (full year)
IBD analyst 3: £60k base and £30k bonus (full year)
Always shocks me how low our comp is compared to the US.. internal request to relocate to NYC here I come..
European BB?
LOL IS THIS HSBC
.
LDN salaries really are a joke compared to Continental Europe
reason why all europeans wanna work here lol. LDN is and will remain the financial center of Europe for decades.
Might be true for Bocconi and HEC retards, who otherwise would have to deal with shitty salaries in their respective financial cities, but many Continental Europeans don't even consider Londonistan.
The wannabe fuhrer is back!
Are you scared Sadiq?
Clearly you couldn’t land a role in London
Nice cope, decided against LDN offers.
Less pay, more diversity, unsafer city for minor improved exit opps was just too bad of a deal.
More diversity is a negative? I thought we beat that trait out of you in 1945.
Do you have any insights on base & bonus in continental Europe at the Analyst level (BBs)?
European BB
An1 Base 50k Bonus 29k
I am guessing this is full bonus and not stub? How does it compare to previous years?
https://news.efinancialcareers.com/uk-en/277526/banking-salaries-and-bo…
£90k AN1 at any reputable shop. GBP/USD = 1.3; NYC ~ 30% more expensive to live in, hence AN1 in London earns the equivalent of someone on $150k in NY. Not bad when you consider you work fewer hours, get a month of holiday, and are only two hours from St Tropez and Mykonos.
Also EBs pay more (in the realms of ~30% extra)
it's not with that salary that you're gonna ball in st tropez hahah
deleted
Can we get some names of where gives the most all-in comp for AN1 and AN2?
Could we pls have some perspective on current bonus figures / last year and bonuses for banks on Xmas schedule ? Would think that some banks would have shifted figures quite a bit given capital markets activity and the fact that some banks are killing it while others are massively struggling
HSBC (I don't work there)
An2: £55k Bonus: c.£25,, (from 3rd party), think was top ranked (that's what he claimed)
An3: £60 Bonus: £24k (confirmed), mid-upper bucket
Guys don't go to HSBC. You will get fucked so hard for so little money.
The only good thing is that they let you expense meals during wfh but other than that they're trash.
Jesus, £25k for top-bucket A2 is terrible
Why wouldn’t they let you expense meals during WFH ? You don’t really have a choice - personally, I would gladly take 30mn to cook dinner, and additional time to buy groceries, but that would come at the expense of productivity - they can’t really not let you expense food otherwise everybody will log off for half an hour which wouldn’t be good
Tax reasons - you spend £20 for dinner but client / company gets charged £40.
Anyone got figures for AN1 at Laz/Roth?
Morgan Stanley, London:
1st Year Analyst:
Signing: £6,000
Base: £50,000
Bonus: split into 5 buckets, ranging from 50% - 90% base with optional team top-up. Most people are in third bucket i.e. around £35,000 bonus 1 year after joining
2nd Year Analyst:
Base: £55,000
Bonus: Same structure as above, 2nd year analysts more likely to get higher bucket bonus as the ranking is done across all analysts (i.e. 1st and 2nd year analysts all ranked together)
Is this for last year ? Any chan the in bonus vs. Previous years ?
Does MS pay stubs?
These bonus categories have been relatively stable in recent years.
Analysts don't get paid stub bonuses, they are on different bonus cycles to more senior employees
Associate 1 - MM IB:
Base - £75k
Bonus - £75k (Top bucket)
Yes salaries in Londonistan generally less than US or Europe.
AN1 typically
£50base / £35bonus / £5sign
Why is that? Are hours generally better, more vacation, something positive? London is just as expensive as NYC right, so you’re not making up for it based on cost of living?
Better hours (and generally more relaxed culture AFAIK), several more weeks of vacation and salaries based on pre-crisis level of GBP/USD
Cost of living in London is cheaper than NYC unless you're you have a high end lifestyle (Michelin star restaurants, bottle service etc.) in which case I think London is a bit more expensive.
Hours I would say are better on average and you have more vacation days, which people actually take. QoL is also generally a lot better / less intense than NYC.
All of those combined, plus salaries in Londonistan are less than continental Europe outside investment banking too
Never understood this, why are London bonuses so much lower than NYC (even when accounting for exchange to USD)?
It’s hard to imagine an analyst life in London is that much better quality of life wise vs. NYC to justify pay gap
Europe is poorer than the US, it's that simple.
Couple reasons:
1. Comp was set back before Brexit when FX was at 1.6 and never adjusted. If you convert at that level, they're much more comparable today but still a bit lower in LDN.
2. The US is just a much better market for investment banking with higher growth and revenue per head than in Europe. US companies rely on capital markets to fund themselves at a much higher degree than in Europe (e.g. look at the German SMEs) and there's also a much larger US sponsor presence which again means more capital markets flow. Then, on the advisory side, US clients also see M&A fees as a cost of doing business and are accustomed to paying high fees whereas European clients tend to either not use advisors on stuff like buysides and/or will pay significantly less and expect more work. Then on top of that, the US economy has generally been strong since '08 while some parts of Europe have really struggled.
It is the benefit of being able to print a lot of money without having to face consequences for it (yet).
Investment Analyst - (VP level-ish equivalent)
Base - £175k
Bonus - £2,100k
£30bn Equity HF - 2020 performance: 10%+
Congrats man
Is that a MM? % of cash / stock?
Not a multi-manager. Investing style is like a Tiger L/S Equity fund (but not a Tiger Cub). Long-bias and multi-year holding periods preferred.
All Cash, but a chunk is deferred cuz in case of potential future clawbacks :(
Given all the chatter about how comp is meaningfully lower in London vs. US for XYZ reasons etc. I sort of threw this in just to give all you Europeans some hope that there is potential to make real money comparable to the U.S. if you land the right seats. They are out there.
This post was sorely needed - as a London coverage banker reading about NYC "EB" 150% bonuses is not motivating (or helpful)!
Associate 3, European BB
Base £120
Bonus £65
Wow, that's just 54%... sounds terrible. Sorry to hear about that!
Are your hours long?
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