Sales and Trading Bonuses 2023
It's close to the end of the year and you know what that means. Another bonus season is soon to be upon us.
Obviously headlines have not been encouraging recently, but would like to get some chatter going about what expectations are.
Let me get the ball rolling:
BB AN2 (will be AN3 after this bonus round)
Base $125k
Expected bonus $90k
Without knowing anything else about you, going to take the under on you getting $215k total comp as an analyst in S&T.
US banks won't pay in line with revenues this year except for top outliers that have leverage/offers/known to be in a team targeted by competition.
CEOs have decided they needed to cut comp due to economic outlook, IBD being a clusterfuck this year, and some potential other dead bodies we still don't know about (whatsapp/regulatory fines ? Elon musk tesla margin loans going belly up ? other ?)
To give an idea, i am hearing that the best department at my place (Commods) is up 70-80% Yoy but the pool is flat.
D1, Exotics top BB
Slightly more than 1m total vs 800 last year.
(around 350 fixed 650 bonus - 350/300 cash/deferred stock)
Had competing offer + desk is up significantly vs last year…
And they tested the waters trying to not honour the deal but did in the end.
This year is a bit garbage, unless you were top tier desk and/or competing offer you got hosed.
Plenty of zeros or big double digit cuts. Lucky to have timed the offer.
Almost thinking to bounce elsewhere this year as that created a bit of tension.
congrats on wf