Does S&T/ER grad scheme in London really pay £100k all-in?
Saw on another thread on ER grad schemes that bonus % is like 60%+ on £70k base at US Ibanks (JPM, MS, GS, Citi, BAML).
I was under the impression that markets bonus at least in first year grad scheme especially if at rotational programme like Citi that bonus was more like 20-30% - at least pre-covid base would be around £50k and maybe £10-15k bonus for equity research. So pre-covid - £60-65k all-in for first year ER graduate.
A jump to £100k all-in seems huge compared to pre-covid, especially this year versus 2021 when revenue has normalised and banks have not had a great year.
Also would assume S&T grad would pay quite a bit less than IBD grad given much shorter hours so £100k all-in seems too high given that's what IBD would pay, if not a bit less this year given bad economic outlook.
Depends on the bank and desk ofc, but def very possible. First years are on £65k now, and some commods desk for example had a very good year
Seems pretty top bucket in first year though to get £100k all-in, but can see if at good bank and good desk and top performer.
sounds about right...think GS ER is like 105k all in or smth with 30/35k stub bonus but might've changed.
Think the podshops pay their grad equity researchers 100k base so all in there is about 150/200.
Most ER gigs and S&T are likely closer to 90k all in for a grad though.
Truth is no one really knows yet because since we've had the base rises no one has got their bonus yet...
I'm certainly not expecting £100k all in this year. Even if I got the same £ amount as pre-base increase (which I do not anticipate because state of the world), I'd still be shy of 100k, including sign on. And I am at one of the bracketed banks.
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What do you wanna ask
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Quelle surprise - base rises, but TC doesn't change! That's how the banks getcha.
Any idea of the upper/lower bound for AN1 bonus in London and how does AN2 bonus compare?
A fair few banks pay a flat bonus in first year for markets guys. Everyone gets the same.
TC was the same as the above at my bank this year. Not sure what An2s got but some definitely cleared £100k TC despite bad year.
Can someone share numbers for associate
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