London S&T Comp Progresssion

Based on the most helpful WSO content, here's what you can expect for S&T compensation progression in London:

1. Analyst Level (1/2/3):

   • Total compensation (base + bonus) typically ranges from £85k to £110k as you progress through the analyst years.
   • Base salaries are generally in the £50k-60k range, with bonuses making up the rest. Bonuses are highly performance-dependent.

2. Associate Level (1/2/3):

   • Total compensation increases significantly, ranging from £135k to £160k, with some top-performing associates earning up to £200k in strong years.
   • Base salaries for associates are usually in the £90k-110k range, with bonuses forming a substantial portion of the total.

3. VP Level:

   • Compensation becomes more variable at this stage, with total comp for VPs ranging from £400k to £500k for top performers.
   • Base salaries are less standardized, and bonuses can vary widely depending on individual and desk performance. Additionally, RSUs (restricted stock units) may start to form part of the compensation package.

The figures from the eFinancialCareers article you referenced are slightly on the higher end but not entirely unrealistic for top-tier performers at leading banks. However, keep in mind that compensation can vary significantly based on the bank, desk performance, and market conditions.

For graduate roles, you can expect: - Sign-on bonus: Typically around £5k-10k. - Base salary: Around £50k-60k. - Bonus: Performance-dependent, but first-year bonuses are generally more modest compared to later years.

Let me know if you need further insights or tips for your internship!

Sources: Sales and Trading - A Comprehensive Guide, https://www.wallstreetoasis.com/forum/trading/compensation-at-oil-majors-and-physical-houses-for-traffic-desk-and-traders?customgpt=1, Fixed Income Sales and Trading 101, London S&T Salary progression, Investment Banking in London (EMEA) - Strongest Players, League Tables, Salaries, Differences...