Public Finance IB Bonuses
I keep reading PubFin IB bonuses are less than corporate IB, but I was wondering what that would look like for analysts and associates. Say, 85k base, Corp IB would expect between 50-80k bonus usually, what would a PubFin IB bonus look like? If anyone has any info beyond first years too that would be great..
Analyst bonus ranges at my BB are roughly: Stub: 20k First full bonus: 30k-60k Second: 45k-85k
For associates I have seen roughly 180k-240k all in. My bank hasn’t raised associate base comp to match corp IB, so associate first year base is still 125k.
VPs I have heard are anywhere from 260k-400k. As you can see, pay is pretty comparable at the analyst level but starts to really diverge once you hit associate/VP.
You make a pretty decent living (you'll be able to comfortably afford a 911 with maintenance by the time you are a mid-level associate, but not advisable). Even as an Analyst you are making six figures right out of college. Also, if you love numbers, munis require more quantitative work than corporate finance since debt is structured through out the yield curve out 30, or even 40 years (as oppose to bullets for many corporate deals).