Hot off the presses! Merrill bonuses were 20K FY bonus for associates and 5K stub for first year analysts in S&T. AM for 1st year analysts stub was around 3K and 15K FY for AM associates. BO folks got a paltry 1K for FY bonus.
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I take it there was no word regarding IBD bonuses?
This is only 1/2 year bonus? (most bonuses are paid out in June/July, no?)
Only for IBD analysts. Stub bonus are for every other first year analyst. Everyone else in the firm gets their bonuses around this time of the year.
@bearing:
What is the logic in this? Why are IBD analysts the only analysts that don't get stub bonuses? Is there a good reason for this or has it simply not changed over the years?
Because IBD analysts start in July and leave in July after their two (or three) year stint is over. Therefore they get paid two bonuses for two years of work each June/July; at the end of each full year of work. The rest of the bank does not sign a two year contract and can work indefinitely, so the rest of the bank gets bonuses like at every other firm or corporation - at the end of the year.
And yes these are only stub bonuses, but in normal times IBD Associates would get 45K-50K stubs (not sure if you meant IBD for associates) not 20K.
S&T Analysts would get at least 15K (probably 20-25K if not more) for their stubs, which is a lot lower than the 5K the OP mentioned.
No word on IBD bonuses yet, that's why I posted in the Trader's forum. The 20K was applicable to first year S&T associates.
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