Anyone know what Stifel’s Public Finance compensation looks like? I know Stifel raised base to 100k for IB A1 last July but wanted to confirm it applies to PubFin too. Top 10 group nationally so I would expect it to be included but I could be wrong.
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I'd be kind of shocked if Stifel public finance paid $100k base for first year analysts. Piper is also a top 10 underwriter in the space and their first year analyst pay isn't uniform, but depends on location. More like $60k-70k. But Piper public finance is a joke in that regard so hopefully Stifel actually pays respectfully.
does Piper consider their hospitality group to be within PubFin?
yeah the group is in phoenix
Pubfin in general does not pay well, unfortunately and to my own dismay at the time. Top 3 negotiated / competitive underwriter bank, analyst bonuses were 20-40k.
Source: me (that’s why I left lol)
Were the hours significantly less to justify the low bonuses?
Ha, I wish it worked like that! No, hours are unrelated to pay. The pay was shit because the fees for the banks are shit in PubFin vs. corporate issuers.
I found that my pub fin team was significantly more chill then and probably about 50-60 hours a week with a bad week every now and then.
BBs actually get paid well for the hours. MM pubfin pay is just garbage for the most part. the difference is drastic. BBs pubfin departments get allocated revenue from other departments like for providing credit, etc. which makes a pretty big difference in department revenue
any idea what the compensation progression looks like? From say associate to VP to director?
I think post base changes, at a BB it's $150k/175k/200k for associates. Bonuses maybe $70k-125k. Not sure after that.
First year VPs at MM (depending on location) is probably $150k-180k all-in.
Talked to incoming FT in LA office. 80k base.
any signing bonus? Meal stipend?
Not sure if they’re changing it this year. But talking to the analyst I was close with (left the firm just a few weeks ago), he was getting 75k + 10k signing bonus. No stipends.
did get meal stipends but got pressure to not use it as people made a strong effort to get out of the office before we were allowed to use it.
Fwiw the pub fin guys were in a separate room vs. Coverage
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