There have been many articles written on the internet about this over the past few weeks, but the only ones that I know of that have CONFIRMED increased salaries for analysts and/or associates are Goldman Sachs, Morgan Stanley, Credit Suisse and Wells Fargo. Can anyone confirm (i.e., their respective bank sent out an email or an amended offer letter) that other banks have increased salaries as well? I'm wondering what's taking other banks so long to follow
Edit: All BB's except for BAML are confirmed/verified. Lazard, HL, Wells Fargo also bumping to 85k
delete
Hope you all realize that salary/bonus increases, 60% headcount increases, and hour reductions are not a good sign of what's to come...
@BTbanker, could you explain your thoughts on this?
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GS/MS: IB, ER, GCM, S&T
GS, MS, JPM, Citi, BAML just off memory, sure there's more
I don't think you are correct about JPM, Citi and BAML. Although there were articles that stated that those banks were thinking about increasing salaries, there was no confirmation that they actually did. The purpose of this thread was so that BAML summer analysts that received offers, for example, would confirm that HR told them they'd receive raises, either through an email, phone call, or amended offer letter. I want to separate rumor from fact.
I'm also quite interested to hear this rational.
@theHill @LongandShortofit
You don't have to have experience as an IBD analyst in 2007 to know that when everything is going great, you'd better be prepared for the worst.
M&A activity is making new highs, and you have to ask why and how long can it be sustained.
+1.
Markets are getting real frothy. With higher headcount, any downturn that happens is going to hurt more at the junior levels. I'm in a pretty specific vertical (Energy), but when I see senior bankers moving around almost as much as the juniors, it worries me a little. Our sector is in the middle of an incredible transformation, but we're worried about the next downturn just as much (if not more) than the next guys...
Good instinct.
When the M&A premium comes out of the market, we'll see S&P 1400 in approx 18 months. At least in my opinion and a normalized interest rate and credit standard world implies an S&P 500 level of about 1225.
Isn't GS/MS bank debt underwriting included as well? Not sure if that falls under GCM or not.
I've been seeing GS/MS participate in more bank deals in my space this year. Very curious where in the org. structure these groups roll up and what comp is like. Any takers?
"Only when the tide goes out do you discover who's been swimming naked."
Can someone confirm if these pay increases apply to all non FO positions as well or just FO?
Wondering this as well...
Not sure if this counts as non FO but it's non IB. I was hired FT by JPM in the fall to start in the summer. Received a revised offer this month.
Lincoln International also increasing
Anyone have details on associates specifically (other than GS and MS increasing)?
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