Vice President Lev Fin
Hi guys,
I am currently a VP 1 in leveraged finance at one of the major bulge bracket banks in the US. I have been in lev fin my whole career at my firm, starting as an analyst right out of undergrad.
I was speaking with a friend in a similar role and our comp is materially different. Just wanted to canvass other senior associates / junior vps in lev fin at respectable banks and see what their comp was.
My base was bumped to 270 and the bonus range that was communicated to me for this year is 125 - 175. How does that compare with others in similar roles to myself? Any data points are much appreciated!
I don't have an answer for you, but am curious about a few things which might also be useful for benchmarking yourself against others:
- How many hours do you work per week?
- Are you mostly/exclusively working on (PE-backed) acquisition financing or corporate debt?
1. Hours are about 90 a week. Its a lev fin group at one of the big boys, top 3 league table type bank so the hours can be your usual long ones.
2. All over the spectrum, but alot of work is centered around PE backed deals. Work alot with financial sponsors group.
Lol is that 125 with the equity piece baked in?
you should lateral - $125k is a lower end associate bonus at most places
I agree, but do you think ~450k all in for a VP1 in lev fin is appropriate?
Yeah unless when you say top 3 BB it’s actually UBS or DB (by league table I’m not familiar with vs. typical top 3 meaning) - I think CS/BAML/Citi/JPM would pay around that
ok thanks, im not unhappy with my pay by any means. was just curious if that amount is normal for a top lev fin shop. I work for the one of the ones you mentioned in the elite tier.
sometimes i see comp numbers on this site that blow me away, but when i talk to people in real life no one seems to make those crazy 650k+ numbers before director level.
Bonus seems low. VP1 at my bank (strong lev fin group) is typically 80-120% bonus. Your hours seems out of whack if you’re consistently working 90 hour weeks…
If you don't mind me asking- what was your typical bonus as an associate?
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