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what was your start date? Also you in NYC?
Thats about on par. JPM pays below street until about VP. Your full year bonus won't be much higher. $25k-$30k for the next few years.
Analyst typically don't stay longer than 16 months, so they're not paying them (which may be why they don't stay long)
Got any insight into what associates are getting, because for A1 that's pretty low?
Was expecting street lvl all-in:
A1: $135,000-$160,000
A2: $145,000-$170,000
AS1: $220,000 – $270,000
AS2: $240,000 – $300,000
Thats way too high. That's more like IBD numbers. S&T is lower at analyst and associate.
There's also an Analyst 3 level that 95% have to do before before being promoted to associate. Direct promotions to Associate from Analyst 2 are very rare. More frequent in trading than sales, but still quite rare. Associate base pay is also $15k-$20k lower than IBD base pay.
A1 $100-$110k
A2 $115-$125k
A3 $120-$135k
AS1: $140k-$160k
AS2: $160k-$180k
AS3 $180k-$200k
Hmm interesting, I'm in Trading so seeing most people get to Associate after 2 yrs.
But those numbers seem low given that you get your own book ~2 yrs in, and then your expectation for PnL is at least 8-10MM a year.
Curious to hear more of your insights given you are reaching your VP mark soon, and if you are speaking from personal experience as well.
I'd actually say the numbers on average are somewhere between these two sets lol. I'm about 5-6 years in now, just got promoted to VP. Below is what I remember more or less (don't really remember the specifics anymore tbh). It starts varying by desk more and more, I'd say after your first associate year. For the most part as an analyst, the three tiers of performance are basically all within 10k or something.
A1: 85k-90k base, 20-25k stub or 50k bonus? (don't remember anymore)
A2: 125k base?, 65k bonus? (maybe 5-10k off)
Ao1: 140k base? 65k bonus? (maybe 5-10k off)
Ao2: 160k base 75k bonus?
Ao3: 175k base (promotion to VP) 230k bonus
Congrats on the good year and promotion.
Curious to hear if you are sales or trading - and outside of direct PnL generation (Or CV), especially in early years, what contributions helped aid your Year-End take home?
I have always been in trading. I'd say as an analyst, you absolutely want to make sure you do all of the basic stuff very well and diligently (ex. booking trades, etc.). If you mess up, just own it, say sorry and make sure doesn't happen again. Nothing annoys people more than making excuses. I've seen this first hand with new analysts, they basically get dinged when they mess something up, then they either keep messing up or make excuses. Honestly, even if you might be right, just don't fire back. More than likely people will realize they were the ones that messed up and say so afterwards.
Once you're able to do that well for say a few months, you can start asking for more trading related responsibility (ex. managing order flow, managing small flow books, managing your own prop book, etc.). Just make sure to keep pestering people, but within reason. Do whatever trading responsibility they give you well, and you're almost guaranteed to being ranked highly by your manager and desk.
You also always want to be making a name for yourself, so be sure to fire off a few emails about some ideas or general thoughts every now and then too. If there is something that you think might be helpful to the overall desk, be sure to take the opportunity to add that value too. But most importantly, is make sure you just do the basic stuff very well.
I can confirm with 100% certainty the below base numbers.
A1: $85k
A2: $90k
A3: $95k
AS1: $125k (IBD AS1 base is $140-150k, so this is where the base divergence starts)
AS2: $140k
AS3: $160k
You got 125 base as a second yr analyst..? That’s the highest I’ve seen
Is S&T pay more or less if you're at GS/MS/JPM? On surface, would think that since they seem to get lion's share of business, they would pay more. But is there a "Big Three Discount," whereby they pay less to analysts and associates because they know they can?
GS and MS pay better at associate level, but we're not talking about much. Working at a top 3 bank is nice because you get all the flow, but your manager will also say you're getting all the flow because you're working at a top 3 bank. You won't be able to put your stamp on it as much so to say. Even tough revenue per head might be higher than at smaller banks you're expected to make that much, so the bar for better pay is also higher. It can also be more hierarchical and there's more red tape. Both GS and MS are an order of magnitude smaller than JPM and don't have much of a retail side. That impacts the culture a lot. A better comparison to JPM is Citi or BofA
Great, thanks for info
Work at a BB, 20k USD bonus for my first year
Can you share
Bulge Bracket - (BAML/Citi/UBS), 25k stub...
What was your base for analyst 1 and increment to analyst 2?
85k > 90k start of analyst 2
Citi 25k stub across analyst class - both roommates work there
Wow JPM numbers are low
I work at BofA and got $20k first year bonus.
Seems like JPM is the cheapskate here
Work at a BB, 25k and pay bump from 85k to 90k
How does this compare to BB tech analysts in S&T for roles like quant dev and algo devs?
Can people please clarify if these are stubs or FYs? Not helpful info if you don’t specify...
All the bonus values of 25K, 20K and 10K were stubs.
They're all stub, but FY won't be much different for JPM
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