Title says all. Would you guys work for 3 years as an Analyst without a single raise? You would still get a bonus every year, which increases YoY, but your base stays the same for 3 years. After 3 years, you would become an Associate.
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Absolutely fuck that. No.
So should I jump to another bank and join them as an Associate? I have an offer but this would be my 2nd jump as a '18 grad. I would be doing the same thing in this group. Like my question is: is it worth jumping (again) for a promotion to do the same thing that I am doing now? (I am not in Investment Banking, but Corporate Banking)
depends. why should you get paid more now?
If this is your actual situation that is weird. The base bumps for analysts are so small, they don’t impact anything (and also not that impactful to your budget - although much more impactful to you than your firm). It is fine IF the bonuses compensate for this (I.e. all in is the same), but again, weird to do this.
My base is $90K at the moment and that’s the salary for all Analysts. I joined back in late 2019 and I don’t expect to get promoted until 2022.
1st years at your bank make 90k base a/o 2020?
Pretty sure this is the norm for IB in Canada. No base raise until you make associate, just higher bonuses.
Canadian bank in the US
They must do the same thing in the US then as in Canada. Not ideal... but def the norm for the big5 canadian banks if that makes you feel any better. Pay will probably always be better on average at US banks, but not by that much. Overall it's probably negligible after taxes.
Nice try HR
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