Truist Pay Bump
Truist increased pay across the Investment Bank, effective Jan. 1:
AN1: $100K
AN2: $105K
AN3: $110K
AS1: $175K
AS2: $200K
AS3: $225K
VP:$275K
Oct 22, 2021Oct 22, 2021
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Comments (89)
Analysts: 100, 105, 110 effective Jan 1
Can confirm. Analyst call today.
Where did you recieve this information? I'm a first year analyst and did not receive any email or call?
S&T should get a salary boost as well... still an opportunity to differentiate based on bonus. Hopefully they don't see a "brain drain" - a lot of unhappy people there now.
They're living like kings in Atlanta.
Anyone know if this is for all of CIB? Including corporate banking?
Array
Corporate banking base bumped to $80K
Wow that's low. What were they at before?
Jan 1st LUL
Let's fucking go boys, don't have to think twice about getting guac at chipotle anymore.
Never even heard of truist but this made me lol
It's relatively new. Sun Trust + BB&T merger
shit is expensive yo
Does this apply to incoming 2022 FT Analyst if we just signed full time offer a month ago?
Interested to know as well
Yes you will get the raise automatically, no new contract. The analysts that started this past July also automatically got the initial raise to 87.5 which happened a couple months earlier.
It does. I got an email about it earlier today.
IS RBC the only one sub 100k now. I know they were one of the first to bump, but did they bump again?
With the lower COL in atlanta? damn theyre living life the right way
They also have an NYC office.
Lol before this thread everyone was shitting nonstop on Truist and now everyone says they're gonna live like kings. Glad corporate got the right idea and figured out how underpaying analysts might make them look bad
Stephens still below 100k for A1
Wonder what their culture/WLB is like. I would imagine that being Southern they might be a bit more chill... but they also don't have the rep of the BBs/EBs so are they just chasing pitches all day long?
WLB was probably a lot better 3-5 years ago. Now realistically you're looking at ~75 hours a week (lot of it spent fuckin around waiting for comments), with the caveat that all your coworkers are super chill and accommodating, both day to day and with regards to PTO. First year working on 2 live deals (one closing soon other in 6 months) but have done 7-8 pitches.
What does WLB look like at the VP level?
Wow truist vp base the same as jpm/ citi/ BofA, how depressing…if you don't work for truist.
Yeah but imagine telling people you work for Truist and they just assume you're part of a religious cult or MLM scheme
Know a guy who wanted a better WLB and left a top EB fo Truist. So, now he has a much better WLB and only a slightly lower salary.
And I assume COL is way better now
I can see this, people on this website are fixated on top salaries/bonuses from EB's but none of that matters - it only matters how much you save. If you pay thousands more a year in taxes living in NYC and an insane amount more for the cost of living, your bank account is gonna be smaller than the guys in the south.
Would this include S&T / ER Or just the IB team?
The Capital Markets groups are included in the pay bump. Not entirely sure about S&T though
What do the bonuses look like for the capital markets group?
What kind of bonuses has Truist been paying in the past 2 years for IB?
Curious as well. Especially for associates.
2020 June Mid-Bucket
2021 June Mid-Bucket:
TBD how bonuses look next year now that base is 100/105/110.
For 2021 That is actually pretty good.
Was 2020 stub bonus?
ER & S&T should be included since these roles are lumped into Truist Securities' Corporate & Investment Bank. The base offered to analysts in ER/ST have been the same as IB and the bonus programs correlate with IB as well (albeit IB receives higher % of base). This is on par with the programs of other banks like JPM and GS
Does anyone know if this will affect SA's? The offer letter was hourly so I'd say no but curious if anyone has insight.
SA's gonna be eating ramen noodles all summer working @ $20/hour
SA hourly bumped up as well…
100k in Atlanta is like 135k in NY. Now Truist is the highest paid IB in America!
Atlanta is no cheaper than Charlotte where most banks are already paying $100k
Not that this isn't sound logic (I do believe we should always be adjusting these things by COL), it would technically be KeyBank in Ohio with like 105k base
100k in ATL is like 200K in NYC according to most COL calculators
According to NerdWallet COL calculator, 100K in ATL equates with 245K in Manhattan, but 94K in CLT.
Idk if COL-adjusted salary discussions are super productive. At face value Truist has gone from "dead fucking last" to "middle of the road" in IB comp within a 1 year period. I can't be the only person who finds that pretty impressive.
Any idea where other regional banks are at for IB / Capital Markets? (US Bank, PNC, Citizens, Fifth Third, etc.)
Dude everywhere is at least 100k base now
I think Citizens (not Bowstring or Western Reserve or Trinity, just Citizens) is 95k according to levels.fyi
Incoming analyst for summer 2022. Officially got an email raising base to $100k
2022 SA now have hourly pay of $48, subject to overtime pay as well (would be $72/hr). Seems like Truist is becoming the new JPowell giving out all this money lol
Wtf we only got $20 per hour last summer god damn
How does this stack up in comparison to other MMs?
Last summer probably got paid less because it was entirely virtual, meaning you didn't have to shell out any money on rent but $48 per hour is still pretty sick
Can confirm pay bump includes research and trading. Just received email
@liarspoker21
Can anyone comment on culture/hours for REIB? Thanks.
Is Truist Securities considered MM, LMM, or Regional Boutique? Genuinely curious what bucket the firm falls into when comparing offers.
I would say MM. It provides a full range of financial/CIB services, and has a national /multi-industry presence; it isn't confined to a given region or industry.Mergers and Inquisitions considers it an MM (https://www.mergersandinquisitions.com/middle-market-investment-banks/) alongside Baird, RJ, and Houlihan-Lokey, while 10X EBITDA considers it a "leading MM" as well (https://www.10xebitda.com/list-of-top-investment-banks/). I think the consensus is that it is not among the most well-known MMs, but isn't regional either.
Very well put. Like Wells in that it occupies a nebulous space. Does MM deals, but leads with balance sheet, which is a strategy you don't see by the MMs that typically come to mind given their build. I can't think of a ton of true comps, unless I'm missing some.
Does anybody know the sign-on bonus for the Analyst 3 promotion? Or the sign-on bonus for Associate promotion/MBA associates?
does the pay bump include portfolio management analysts?
PM got bumped to $80k
What is typical target bonus at the associate level? 100% of base? Less?
Curious as well
Coming in as 2nd year at $105k. What should I expect as 6 month bonus? And, what to expect for full year bonus? Should I ask for any sign on bonus?
Is Truist now officially the lowest paying bank other from Oppenheimer?
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