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The PFM Group (Public Financial Management), one of the top public finance IBs in the nation, based out of Philadelphia, PA started analysts at around $50k in 2007. Good benefits, no other bonus. About 45 hour work week with fantastic training. Overall, the pay is pretty crappy. But I'd say good transferrable skills and a very doable lifestyle.
so it's challenging and gives you a good basse to make a lateral transfer to corp fin?
PFM does a lot of FA work on municipal issuance. If your working for a public finance IB at a bulge bracket expect the same salary as analysts in other groups. Bonus might be slightly less, only because your not playing with a $7B Merger, your only playing with a $1B BAB. Hours are the same...
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Public Finance IB Salary seems low (Originally Posted: 05/04/2015)
Hey Guys,
Searched over the forums but could only really find threads pertaining to BB Public Finance topics.
Anyone have any insight about the smaller regional banks (exit opps, culture, etc.)? (First Southwest, Wedbush, Stifel and the like). After my interviews it seems like most of the modeling is done with a computer program. Mostly just underwriting muni bonds.
I have heard pay is around 55k base + (10-20% bonus). Is this a low or normal for public finance IB?
The pay seems normal for the banks you listed and the regions.
Public Finance Banker Comp? (Originally Posted: 11/11/2011)
Can some one give me an idea of the comp for Public Finance bankers?
What is typical for an Associate?
What is typical for an Vice President?
Can't speak to the higher levels, but Public Finance analyst pay is standard at the BB's with a slightly lower bonus (maybe 70k base + 40k bonus + 10k signing fist year).
The BBs have odd org structures for public finance. MS has it under S&T, while it is just another IBD department at Goldman.
Generally, pay and exit opps look a lot like DCM. I would imagine that payscale holds as you advance.
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