BB S&T London Comp Progression: Can Anyone Confirm These Numbers?

Based on the most helpful WSO content, here’s a breakdown of London S&T compensation progression at BBs and insights into your follow-up questions:

Compensation Progression:

1. Analyst 1: £65–70k base salary
2. Analyst 2: £70–75k base salary
3. Analyst 3: £75–85k base salary
4. Associate 1: £95–105k base salary

These ranges align with the general consensus across WSO threads. However, keep in mind that bonuses play a significant role in total compensation, and they can vary widely depending on performance factors.

Follow-Up Insights:

1. Impact of Sharing a Book or P&L Responsibility:

   • Once you start sharing a book or taking on direct P&L responsibility, your bonus potential increases significantly. This is because your contribution to the desk's revenue becomes more measurable, and high performers can see outsized rewards.
   • At the associate level and beyond, compensation becomes more variable, with bonuses often tied to individual and desk performance.

2. Bonus Determination Factors:

   • Desk Performance: This is a major factor, as the profitability of your desk (macro, equities, credit, etc.) directly impacts bonus pools.
   • Individual Contribution: Your ranking within the team (quartile placement) and your direct impact on P&L are critical. Top-quartile performers typically receive the highest bonuses.
   • Firm-Wide Performance: Overall bank performance can also influence bonus pools, especially in challenging market conditions.

Desk Variations:

• Compensation can vary by desk, with macro and credit desks often seeing higher variability in bonuses due to the nature of their trading activities. Equities desks may have more stable but slightly lower bonus ranges.

If you're looking for more specific numbers or trends, feel free to ask!

Sources: London S&T Salary progression, https://www.wallstreetoasis.com/forums/compensation-differential-nyclondon?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/2017-investment-banking-report-8-key-trends-to-know?customgpt=1