Referring to the PJT flat $250k salary across all associate classes -- why doesn't this forum seem too vocal hoping other BBs/EBs follow suit?
I think we all assume it'll be offset with a lower bonus, but I'd take a higher salary any day. Do we all think this is a one-off? I think it would cause a major industry shift if this becomes the norm, and that's probably why it won't happen.
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Source?
Because equity markets are down 25% from their ATH??
because they’ve already largely been viewed as a leader on comp. bbs won’t follow an eb… ebs have always paid more.
EBs will have to follow. I don't expect them to match 250 but they will raise from 200 and 175
According to the Litquidity comp table, Centerview’s base for Associates is apparently beating this.
What is it?
300k base
EVR, LAZ, PWP, MOE all lower than this, hopefully matches come soon. At the end of the day recruiting and laterals are what put their feet to the fire
PJT hires like 15 people per associate class (M&A and RSSG combined). Not many people are going to be deciding between their offer and somewhere else. CVP already pays an absurd amount but that hasn't moved the market. Even LAZ is at 185 for A0 and 200 for A1 but that hasn't forced others to move off of 175. Look, I could be wrong but I don't necessarily see this as that ground breaking.
^This
Regardless of how many MBAs they hire or what we think of the relative “ranking” of the firms, they view PJT as a peer and some people within the management teams will want to match the number, others won’t.
Because most ppl on this forum are analysts and incoming analysts
is GS A2A base still 150?
Bump
There absolutely is mania though. Even though PJT pays 250 across all Assoc levels, most larger firms are doing 225 for full yr associates after their stub and climbing to 250 after that which is arguably not that big a difference. The real mania is coming from the lateral offers at the moment, many of which are doing guaranteed bonuses at 100% of base comp. I suspect this will end by June but I've seen a number of offers go out with this structure in the lateral market.
Which banks pay 225k? Are you talking about total comps after stubs? because PJT is 250 base + A2A bonus + year end bonus for Asso1... not sure who is near that except Centerview
Most reputable bulge / MM / independent boutique firms have done so. And as my original post alluded to, I'm talking about full year associates, not stubs. They'll all follow a similar comp structure though for most the A2A will be ~40K and whatever the discretionary bonus amount is.
Centerview aside, no other banks are close.
EVR/LAZ pay 185/200/225/250 As0-As3
PJT is 250 the entire 3.5 year associate stint
Just about else is on the 175/175/200/225 scale with a few exceptions.
Interesting to hear on the 100% bonus guarantees for laterals. Thought the market would have cooled off by now.
PJT raised but total comp is not expected to move meaningfully
Is this PJT guaranteeing 100% bonuses or other firm's in general? Would be interesting to know which
delete
This would be a cooler joke if PJT was still a part of Blackstone. Alas.
I’ve heard Citi is planning on lowering associate pay
Has anyone heard of any bumps coming?
Bump? Any talks at EBs raising associate comps?
Seems like PJT is the place to be
Nice to see pjt scooping up laterals. I know a couple of guys that lateralled in the last few weeks.
Mind sharing which banks/ groups?
Two from the same lower tier BB
Any info on bonus targets for laterals?
More to come. I'm hearing of 2 or 3 that are in the process now. Leaving other EBs
At least one leaving moelis
Know one from Lazard and Evercore leaving as well.
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