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It's largely similar to the BB's aside from GS which pays below st.
Only EB's tend to pay a bit more, save lazard which also pays a discount to other EB's
Thanks for the insight. Is it reasonable to expect 150 all in for the top bucket? also, is the signing bonus around 10k?
150 assuming or not assuming signing bonus?
Bonuses were down the street this year so I think 85 base + 55/60 bonus as MM top bucket + 10 signing gets you there to 150 all in-ish
Makes sense. Are there any groups at any of the MM banks that are known to pay above this and possibly closer to EBs?
Unless your family is in poverty or you are in a mountain of debt that needs to be paid back ASAP, you're looking at this totally the wrong way. The difference between 150 175 after taxes in NY for example is absolutely dog shit nothing. I mean piss nothing. And that's assuming you're top bucket at both places which requires incremental more hours of work at dog shit after tax hourly wages.
From the above, you can tell most people don't become IB analysts to make a lot of money. You won't. 150k in NY is below middle class. Analysts live 3 deep in a fuckin apartment somewhere in brooklyn prolly.
I'm sorry I'm being harsh but I can tell you are just looking at this the wrong way. Figure out which group you click with the most, which gives you an enormous amount of edge from social capital standpoint, and then which group tends to do more interesting deals. That's all that matters as an analyst.
And b4 anyone calls me a fuckin asshole, I'll answer your question too. MM's like WB in chicago pay at or above street (in historical years, I've left IB for 2 years so I have no idea what it is this year) or MM's that have a split off bonus pool (think JEF Houston or SF tech).
.
lol
Lol what?
lol by asking how much analysts at jef make, you clearly missed the entire point of his rant. they make a billion dollars, does that satisfy your curiosity?
No.
It's going to be somewhere between 150 and 175. I can't tell you teh exact figures but it's all around there. If you want EB money you need to go to EB's but again even the pay there is only marginally what a 20 grand difference for first year analysts? For what? If you told me you want an EB for the exit ops and deal exposure then ok ding ding ding you hit the jackpot, that's what i wanna hear. the rest again is peanuts. Kylie jenner made more in an hour then the analyst will make in a year lmao, it's sad i know
But since I'm on this tangent and I have some time in between meetings this AM, i'm gonna drop a jewel for you. As you get older (and I'm prolly no more than 5-6 years older than you), you're gonna realize W2 income is complete trash. Garbage, peanuts, potato chips trash. This is the income your MD's and senior partners will be making when we talking "all in cash comp". Some will ahve it in deferred stock but even then that's trash, let me tell you why.
The country is headed in a way where there's gonna be higher taxation. This taxation is easiest to tax at the w2 ordinary income level. You prolly didn't even know htis, CA has a 0.5% tax on all income > 1 million for mental health purposes. Did you even know that existed? Did you know that payroll tax will kick in below 137 and above 400 should biden win + dems sweep the house and seante like lebron shoulda swept miami (jk i fuckin hate lebron)? Ok what does that mean?
That means your MD pulling 1 mil a year can kiss fuckin 50% of that goodbye once CA hits him with the 14 % top rate bracket and feds get em for anothe 39.6 and then he gets slammed off the top rope with another 7% payroll from 400-1 mil.
If you wonder why MD's never leave IB unless they get booted kicked out or just suck it's cuz they have lifestyle creep. They appear to make a shit ton but in reality most of it goes to their ex wives, private school for the kids, and most of allllll IRS.
Sorry for the rant. I partially did answer your question tho and this was cathartic. I need to get back to filing my 2018 tax amendments.
Oh and sorry I knew there was a reason i started ranting. You were asking bout analyst pay. I get it, i was one a while ago. I'm painting you the picture of you as an anlayst's boss's boss's boss's boss.
Oh and b4 someone comes in and say "oh but cap gains haha! I'll go to buy side and get that 20% carry"... just look at the fuckin ink on the canvas dawg. The wealth tax conversation is a thing.. it's fucking stupid but it's a thing. Cap gains at ordinary income levels is already literlaly in biden's proposal and he's supposed to be a moderate. It's the way we're heading
Back in the 90's maybe when nobody on mainstreet knew pE prof's were killin it with 20% tax rates on their carry you could get away with it. A society as it gets more progressive (i'm a conservaitve economically...can u tell lol), is gonna catch on.
That carry is gonna be taxed at ordinary income level. if you're KKR Menlo partner, quiver in your boots for sure (or maybe there will be another loop hole?... if anyone knows it lmk ;))
You make some very good points, but just imagine complaining about being paid $150K as a pimple faced fresh out of college new grad. Much more than 99% roles out there for kids and many people would kill to get paid that. Are you rolling in dough living in a PH suite? No. Is it better than the alternative of making $80K in a 9-5? In my opinion yes, but can see the argument amount the trade-off of pay/hours and what you actually get paid on an hourly basis if you break it down. But if you think it's tough to make it in NYC making $150K as the "middle class" as a 22 year old, then no way you take that 9-5 corporate gig making $80K.
Also buddy welcome to the real world. Guess what 99% people work until they're like 60 and can retire. Will IB make you rich beyond your wildest it dreams? No of course not you'll never make the big bucks as an employee. Is it better than and higher paying than a lot of other alternatives? Yes. If you want to make f you money then you need to start a company, grow it, sell it and cash in. Until you do that, we're all going to be working away paying for the wife, kids, private school, vacations, house, etc. Life ain't cheap.
Definitely agree on everything about taxes and the current direction we're heading in. Have to slap myself in the face every time someone says "vote blue or don't vote at all". Great, you'll get Trump out of office in exchange for big brother to only take more out of all our pockets for government programs that will only put us deeper into debt.
Of course when comparing offers should always be putting emphasis on group fit, growth opportunities, momentum of the group, recent mandates, interesting deals, industry you like or product you like, etc. rather than that extra $15K or whatever as an analyst which you're right in NYC or other high tax places will end up being nothing
Might be the smartest guy on WSO.
We all fukked bois!
Ha, great, useful, entertaining stuff...
MM - An1 - $85K Base, $60K Bonus, $15K Signing Bonus
is it one of (WB/Baird/Jefferies)?
I've heard Blair is on the higher end of things (no exact numbers) but allegedly above the 150k number that's being floated in here for top bucket.
mm base 85, bonus 60, signing 20
blair roughly pays...
first 6 months salary - $85
bonus 6 months in - $35
salary from 6-18 months in - $90
bonus 18 months in - $75/85/100
salary 18-24 months in - $95
bonus 24 months in - $35
Anyone at Baird/HL/HW also have a salary structure pretty similar to Blair?
No Blair’s structure is unique
How about MM comp at non-NYC/SF locations? What kind of discount would there be in Philly, Denver, KC, DC, etc.?
At least for Houston and Chicago, there is no discount on pay.
Mainly wondering about the non-traditional finance hubs, but still fall under the scope of being a "big city".
Signed MM Boston offer. 12.5k signing, 85k base. Not sure about bonuses
don't think tier 1 mm's have office in those caliber of cities except minneapolis and like charlotte. For tier 1mm should be consistent across geography, for others however total comp i'd imagine would have a discount
Piper and Stifel have offices in Denver, and piper PubFin in philly and KC, etc. Even JPM MMBSI has an office in Indianapolis. Mainly wondering what kind of comp would be expected at these places.
Blair has been building out in CLT
One of the large US MM investment banks (London first-year analyst comp):
no sign-on bonus
first 6 months salary - GBP45k
bonus 6 months in - GBP5k
salary from 6-18 months in - GBP50k
bonus 18 months in - GBP25k
Hours: approximately 80 to 90 hours per week on average
London comp is so below the US
Always wondered why anyone would do ib in the uk with the pay so low
Im guessing they set the scale when 1 sterling equaled 2 dollars but never changed the amounts after that
Extremely difficult for a U.K. applicant to get an offer for a role in the US (close to impossible unless they are at a bank which offers mobility to transfer abroad)
any idea of HK or Singapore?
Any numbers for Lincoln or Piper?
Any numbers for Lincoln or Piper?
piper: 85 base, 10 signing, bonus: 30-65k
lincoln: 85 base, 15 signing, bonus 30-65k
I was offered a 10k signing bonus at Lincoln. Non Chicago office
Any numbers for Stifel NY?
Does anyone know if Wells Fargo buckets and what usual mid bucket is, and do they pay stub
They bucket, top is 70k for my buddy there
Does anyone have numbers for Jefferies - Non-NYC locations?
bump
bump
houston or a different non-nyc location. Houston pays significantly more
can you give insight into both?
could be anywhere from 25-75 bonus for bos, cha, sf, and other non nyc locations and signing bonus is 15. Believe numbers are higher for houston and have heard 25k signing
Any numbers for Keybanc?
Are Rothschild bonuses around street?
hover typically between 50-65, a bit higher for top bucket, and can go lower for bottom bucket. signing is 15
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