TRANSFERS AND LONDON PAY
HI GUYS!!
Aspiring IB here. Can someone tell me whether it is possible to transfer b/w BB from their London to their NYC office? And can you guys tell me what the pay is at BBs in London? I can't find the info anywhere. I know many banks increased their pay hows the pay in London looking? Are bonus percentages the same for IB in London (~50-100%.)
Any info would be appreciated.
Most of BBs are have bumped to £60k with MS & GS being the only BBs to bump to £70k. PJT and PWP have matches the £70k with other EBs ranging between £60-70k. Bonus for BBs approx 50-80% base with EBs 80-110% base. Not to sure about the transfer stuff
Yeah at an EB and had 120% bonus this year, some got up to >130%, but think normal year is more 90-100%. Not sure if A1 is £60 or £65k but above reply is broadly accurate
Pay is terrible in London then. Most US IBs are paying 100-110 while in London the new salaries are much lower than the old salaries in NYC. What's going on. That's so unfair. What are your opinions on doing IB for 2-3 years in London, save enough money, and then get a masters for the US then do IB in NYC.
Taking into account fx rates and cost of living, pay isn’t that bad in london only slightly below nyc. Furthermore, relative to pay in other industries, £100k+ (all in) ldn for a grad is insane given the avg grad salary is like £28/30k.
Realistically what pay is going to look like for years ahead is this. This year's bonuses were obviously huge, but they were to re-compensate a very profitable year while people were on the lower bases. Comp will re-stabilise roughly as per below
London new pay at EB = £70k + ~£60k = £130k (more at PJT/ CVP - wouldn't be surprised with £150k all-in, excl. sign-ons, at those shops)
London new pay at GS/ MS = £70k + ~£45k = £115k
London new pay at other BB = £60k + ~£40k = £100k
That's the same as:
EB: $180k
GS/ MS: $160k
BB: $140k
In the US, those numbers are probably gonna be more like $220k, $190k, $160k (again when bonuses fall from this year's levels) so you're getting about ~14-15% less. Not huge, and London is about ~20% cheaper to live in.
GS is 65 base
Pay is poor and transfer is very difficult. Don’t let people on this site fool you into thinking you will easily get an L-1 visa and transfer. If that was the case, London offices would be near empty and everyone would be on the flight to New York.
Pay is poor??? Don’t London EBs now reach potential 130-150k all-ins? That can be ~200k+ USD and with 25 days holiday per year correct?
Let’s see. £150k is very agressive I think most EBs will stay at £120k average
OP first of all stop using all caps on your thread titles - it's annoying and unnecessary. Second of all, focus on improving yourself first before worrying about pay and traferring to NYC. I'm assuming you haven't even got a summer offer?
im a student who isnt even in uni right now. Gaining some info.
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