Does anyone know if one is coming soon? Kinda a squeeze with NYC rent costs going up so much the past couple years, and with the IPO market heating up, M&A fees up so much, and analyst churn on the rise (in addition to talent going to AI labs and startups), are we going to see a salary bump? Perhaps wishful thinking but want to hear thoughts
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No
Nah, get back to work. Thx
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No, supply and demand is still very much in the favor of the banks and not the employees. NYC rent growth is outpacing wage growth across all industries, it's not like IB salaries are falling behind other offers an entry level person would be getting
Law firm wage growth has outpaced rent
Not really a direct comparison though, you can't just lateral over from IB into law. Banks are comping to tech firms and other financial peers, not careers that require 3 more years of school
Nice fanfic OP. Add robots or aliens next time
Historically, base salary bump is every 5 -6 years. Last base salary bump happened in 2022, I think we should expect a base salary bump in the next 1-2 years. Base salary of $275K is feeling short even for VPs trying to buy in any major cities and start a family. Not even feeling ahead vs. peers in non-high finance jobs.
$110 A1 Base in 2021 felt a lot different than it does to incoming analysts now. Hard to afford a studio downtown with that comp. Feel like an adjustment is warranted.
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