NY vs CHI MM Comp

Anyone know if CHI base / total comp is the same as NY for MM’s such as Baird/HL/Lincoln etc.? Is base still 175-225 for associates in Chicago or do they adjust for COL?

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Broadly, banks do no adjustments for cities/location. The only difference really is sometimes meal stipends can vary slightly for example, one firm I know of has $35 instead of $30 for meals in NY vs Chicago.

The lower cost of living is really a big deal—it’s not unreasonable to say you will save a grand a month in rent and an additional several hundred living in a not NY or SF city. It’s like an additional stub bonus over the course of a year.

 

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