Red Flag?

Recently got an offer for a lateral IB position at a large MM international bank (think European/Japanese bank).

I have approximately 3 years of full time experience at other global/reputable investment banks, and the hiring manager had even requested for 2-3 references after successfully passing the superday interview (which is pretty much unheard of particularly for banks of this caliber, so much so that the recruiter/HR even told me that directly).

After all of this, they decided to offer me a first-year analyst role with the lowest salary in the public salary range and no sign-on bonuses.

Based on this, does these highlight potential red flags about that team/bank?

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