Will all BBs follow GS 110k A1 Base?
Heard from current analysts (not at GS) that all BBs will end up standardizing to 110k.
What are your thoughts?
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Maybe
it’s less likely now bofa second revised number is only 100/105 :/
No
why not?
Hear me out, MS will eventually have to raise to 110K to compete with GS. JPM then has to raise 110K to compete with MS. Then Barc/BAML/CS has to raise to compete with JPM. Then UBS/DB has to raise to compete with the Euro banks. 110K new street base make it happen MS.
pretty good points here
let's be honest here, most kids will take a GS classic offer over MS, let alone JPM and other BBs. My point is that I'm not sure the 10k difference between GS and other banks will influence candidates' decisions
Even if most kids take GS over MS, MS still has a reputation to maintain. Execs at MS aren't going to be saying "well GS is the best so we're not even going to compete and just settle for second with 100K base." I personally know a few candidates that chose MS over GS (although a lot of that was due to the GS discount)
Those friends are going to be very disappointed when they realize the pay at MS is equally as bad… First year bonuses pre-pandemic were rubbish. After recent salary bump and bonus numbers, MS pay is a significant discount to GS.
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