Hi, I saw that there was a lot of transparency with respect to IBD bonuses, but I was curious if anyone had any insight on Trading 1st and 2nd year analysts. I have used the search bar and I do understand trading is structured in a way where your bonus is affected by the performance of the desk. However, I heard the the pay is pretty standard for 1st and 2nd year analyst across desks since they don't really cause profits/losses.
So, if anyone has any idea what these numbers look like, that would be great! Thanks!
bump
True, your bonus is affected by your desk, but this becomes more important when you become a trader and have a book (ie no longer an analyst). As an analyst your bonus is determined based on a bucket system, similar to banking, with all trading analyst bonuses coming out of a firm-wide analyst bonus pool. First year analyst here, so feel free to ask follow ups.
Winston Wolfe What should one expect for like tier 1/2/3?
Range was $30k-$60k last year
Another thing to keep in mind is since you're a rotating analyst, you will only be exposed to certain segments of the business, so for better or worse there are politics involved
it also highly depends on the desk. If you are an analyst on the govie desk (just for example) and you do a great job, and the desk head really likes you, and the desk has a good year, the desk head can always increase what you get (you of course are really NOT supposed to ask...that's a big no-no). On the flip side, if you suck, the desk head can just fire you and start over with another analyst next year. I've seen both happen. Nothing is guaranteed. Both scenarios happen all the time. Trading is volatile, both P&L wise and career wise.
If you want to maximize your bonus as a junior on a BB trading desk, 1st be awesome at everything you do (yes, duh)...and 2nd, you gotta make everybody like you. Sometimes, that means having balls and talking back to a senior guy. Sometimes that means biting your tongue. Being extremely humble, going on food runs without being asked, and never ever ever make a mistake. If you make a mistake, own up to it AS SOON AS POSSIBLE. Every second counts in this business..
a lot will depend on the bank you work for as analysts at some shops aren't desk headcount until they become associates. the desk can push for you but ultimately you're in a tight bracket with the rest of the analyst class across S&T.
Great! Thank you so much for the answers guys. I saw that IBD ranged from 40-85k this year after using the search bar, is it normal that S&T is lower as a whole? Or can it hit higher number but is simply more volatile?
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