Title says it all. It's been a little frustrating to see my own bank, plus many others including MMs, offering first-year IBD analysts $150k+ all-in, while S&T is still sitting at $85k base plus an average bonus.
Although it's still a good number given the lesser hours + little weekends, it concerns me that it hasn't moved up in the past 5 years, especially given increased CoL / rent / inflation in NYC and the entire US.
Any S&T folks care to chime in about the long-term feasibility of a S&T career path? I'll be on a fixed-income desk, if it makes any difference. Would love to hear some opinions from people on the floor.
https://www.wallstreetoasis.com/forums/is-st-still-a-good-career-path
What kind of shop? Seems like most of the street is at at least 100k for SnT base.
Besides JP/GS/MS/Citi’s trading floor, lots of other banks are keeping S&T at $85k while hiking IBD base to $110k or $115k+. DB, CS, UBS, BNP, SG, HSBC etc.
DB, CS, BNP and soc gen have definitely raised to at least 100k.
can confirm DB has raised for An1 to circa 120k. assume new an0s would get a bump as well
hang in there brudder. have been in your shoes - the rage/resentment is very real. I had other considerations that kept me (before the unexpected pay hike) - good seat, good team, viable path to quick progression etc.....i think i was very fortunate to be in a near-perfect situation aside from being absurdly underpaid and that was what sorta kept me going....long-term greedy and all that shiz i suppose. though if not the case for you ....totally logical to consider moving, heck a fair few of my batchmates defo have
Appreciate this response. Really does make me feel a lot better.
Looks like we're in a similar situation. My team is also stellar, some of the nicest and most supportive people on the entire floor from MDs to Associates. It's also a solid seat that converts well to the buyside. If this does hold, it'll be quite frustrating to know I'm losing -$20k or -$30k in opportunity cost. But I do wonder if that's worth it in my long-term career, given my desk's good culture & solid mentorship from seniors. These guys treat me like family and always have me back, so that's definitely something to look forward to.
I'm guessing you don't want to tell what desk and bank this is? That's "paradise" for the most part at least especially in S&T.
saw ur incoming tag - have u started? cuz opinions might change....thankfully for me was quite consistent
my thought process as farfetched as it is fwiw was that the 20-30k negative carry for about ~4yrs or so eventually evens out at VP+ (more room for quicker progression, outperformance etc from better seat/culture etc = more enjoyment, better bonuses etc)
not to mention we party plenty and the amount of booze/special items i consume on their tabs defo evens out the 20-30k, and u cant measure good times in dollars hahahahaha
Damn 120k base or 120K total comp for 1st year analyst?
An0 base 85k -> An1 new base circa 120k - non-US so the ccy conversion is a tad off lol
I think most BB’s are 110-115k for Analyst 0/1
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