Will big BB coverage groups pay Directors total comp of $1mm+ without originating on their own but still highly rated / regarded?
Asking since Director this year and total comp as a VP3 was $800k last year. The bank, the IB division and the IB coverage group are all having way better year than last year and have significant revenue tied to my name (did not originate solo but helped execute - mostly tied to a couple big deals). Have about $2.5mm of revenue tied to my name as sole originator.
Will group really think about paying a Director $1mm+ total comp? I can easily extrapolate from last year but then I worry I’m getting way too bullish and should temper my expectations. I am not some rainmaker Director lol but group head likes me and well regarded for most part.
Any thoughts of people that have been around the block?
Realize rambling post with no right answer but wondering perspectives from others experiences.
TY
Ignore title I’m around your level. What are your hours like? I think $1mm is definitely possible if you were at $800 last year. A lot will be in stock though…
Def a lot will be in stock - I actually hit the higher % stock threshold with my previous year bonus. But you also get that stock vesting now from the previous 4 years :)
Prob 60 hours a week if being honest. Can flex up or down dramatically based on what going on.
Hours are fine, the constant paranoia that I’m not doing enough and will get clipped in 2 years is a new ongoing feeling
I have the same fear…I thought it was just me…it sucks because corp dev money is so much worse… unrelated, but seeing a lot of M&A director gigs at our level…thoughts? Much more execution focused which seems like it would suck.
The way I think about it is post stock and post tax, $200k is like $50k difference in any year
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Vp1 at my MM in NYC coverage made 650
Associate 3 made 550
And my firm is not elite by any means
Can you share what this coverage group focuses on?
Generally at a BB 1mm+ is for Directors that generate real dough and are basically playing an MD role. Hard to see that happening with 2mm but if you’re group is having an exceptionally good year…
Yeah what I figured. Can’t see them paying that much for non revenue generator
Might I ask what your comp was at VP1 and 2? Very curious to see what the annual progression was.
Low and mid 600’s
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