Public Finance Bonuses?
Any insight on target bonuses for public finance? Looking specifically for numbers for juniors at BBs. Interned this summer and got a return. Have heard anywhere from 30K to 60K, so any clarity would be great. Thanks!
Based on the most helpful WSO content, public finance bonuses for juniors at bulge bracket banks (BBs) can vary widely, but the range you've heard—$30K to $60K—aligns with typical figures. Bonuses often depend on the bank, group performance, and individual contributions. For first-year analysts, total compensation (base + bonus) is generally consistent with the broader investment banking analyst range, where base salaries are around $168K, and bonuses can push total comp higher.
If you're looking for more precise numbers, it might help to check specific BB reports or connect with peers who have recently worked in public finance at BBs.
Sources: 2015-2016 salary & bonus discussion, https://www.wallstreetoasis.com/forum/investment-banking/2017-investment-banking-report-8-key-trends-to-know?customgpt=1, 2018 Investment Banking Report: 8 Trends in the Industry, JP Morgan Junior Investment Banking Analyst Program, JP Morgan Junior Investment Banking Analyst Program
My title is very outdated at this point. I got ~$45k and ~$75k a couple years ago in weaker markets than today’s environment. I was told I was top bucket both years, but in reality my class was all paid pretty similarly when we were A1s and A2s.
I now work with someone who got ~$100k at a different bank as an A2A, but 1/3 of that was in stock.
i interviewed for stifel and piper sandler public finance teams and remember looking into it about a year ago. I think it might be a bit lower than typical ib coverage groups but not bad. comparable to dcm
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