Comments (78)

  • Prospect in IB-M&A
Dec 24, 2021 - 12:28am

Could you advise on the best shops for analysts in PB? Don't really see a sort of "ranking" for private banks especially in this IB dominated forum. 

Dec 24, 2021 - 12:27pm
mulamula, what's your opinion? Comment below:

Top firms for juniors are (JPM/GS... and Citi, but it's behind the first two). As you start to build your own book it matters less where you are at, just as long as you're a revenue producer. Having said that, starting at a top private bank is extremely beneficial because you will inherit a book of HNW clients as an associate rather than start from scratch. Also the pay is much better starting off at a PB, but has a lower ceiling due to the salary+bonus structure. I'm sure the top dogs get taken care of on the backside tho.

Dec 24, 2021 - 12:31pm
mulamula, what's your opinion? Comment below:

*Not sure if they got raises 

AS: 57k signing, 125k base, 25k bonus for every $5MM in flows you bring in (have heard of associates bringing in 50MM in some cases and even 500MM this year in NY)

VP: 210k base, bonuses are highly variable. But have heard that the yearly quota is $25MM in flows for a 125K bonus (probably varies by region and book size) 

Dec 24, 2021 - 4:55pm
l152, what's your opinion? Comment below:

What's average associate all in comp. assuming most AS don't bring in 50 mm in flows…

Dec 24, 2021 - 8:04pm
ThirdBird, what's your opinion? Comment below:

Have networking calls lined up with some people at a high level firm. Wanted to know what you think some important things to ask/investigate would be? Also would you mind giving a basic rundown on how the structure of clients is for someone getting hired in out of undergrad? Any suggestions on where I can read up on this type of thing besides the forum would be appreciated.

Dec 25, 2021 - 2:57pm
What is Upstart, what's your opinion? Comment below:

Hey thanks for doing this.

- Do you have any insights into how different PB is in offshore territories (BVI, Malta, Channel Islands...) or Europe (especially Luxembourg, Switzerland...)? 

- How do you feel about your career path, will you stay or seek an opportunity in other roles (AM, IB..)?

- What do you like the most about your job?

- What does your day typically look like?

- Does your regional office still provide good networking opportunities, especially with clients?

- How big is tha D?

Dec 26, 2021 - 5:19pm
mulamula, what's your opinion? Comment below:

- Do you have any insights into how different PB is in offshore territories (BVI, Malta, Channel Islands...) or Europe (especially Luxembourg, Switzerland...)? 

  • Nope

- How do you feel about your career path, will you stay or seek an opportunity in other roles (AM, IB..)?

  • I like it and could see myself staying with it long term, but I also have interests in a couple other paths (IB/MBA/Law). I'll know for sure at the year 2 mark.

- What do you like the most about your job?

  • The fact that you're kinda building your own business, and the relationship aspect of it.

- What does your day typically look like?

  • No typical day, but hours r usually 7-7/8

- Does your regional office still provide good networking opportunities, especially with clients?

  • Yes, regional is arguably better for client exposure and overall exposure than NYC.

- How big is tha D?

  • Mediocre at best
  • Analyst 1 in IA
Dec 26, 2021 - 4:53pm

coming from a big 10 school should make the networking much easier. find an alumni to introduce you to someone, continue to ask to meet others (i.e. ask the person you networked with at jpm to introduce you to someone else, then that person for someone new, then on and on), and then it'll just be waiting for a role to open up (assuming you're a senior so you'd join off-cycle). that's how i got it after a couple years of recruiting through covid - once a role opened up they basically just gave me the offer, no interview or anything.

  • Analyst 2 in AM - Equities
Dec 26, 2021 - 6:42pm

Was at the firm left for LO AM but I think I may want to come back. I never got much clarity on senior pay can you breakdown what the base + bonus is for Assoc, VP, ED, MD? 

  • Analyst 1 in RE - Comm
Dec 27, 2021 - 9:08am

Is it true Goldman pays like shit at the analyst level? Heard sub 10k bonus in Chicago office?

  • Analyst 1 in IA
Dec 29, 2021 - 8:27am

i've actually heard the opposite from an analyst in the chicago office - salaries used to be lower than JPM by like 10k but they made up for it with their bonuses. i'm sure even today they have a decent bonus pool. at JPM, minimum bonus is $5k i believe for the shittiest analyst, then up from there.

  • Analyst 3+ in IB - Cov
Jul 1, 2022 - 11:17am

Yes. Can confirm was one of those underpaid analysts.

Most Helpful
Dec 29, 2021 - 5:55pm
cquant, what's your opinion? Comment below:

Hi,

- Could you talk about what your work consists of as a PB analyst?

(More specifically do any tasks involve coding in languages other than Python and R, or use Statistical Learning techniques for data analysis, or Portfolio theory?)

- Do you have any advice on eventually progressing from an Analyst to a portfolio manager? 

- In a previous response, what did you mean by "$x MM of inflows you bring in"?

(Does inflow here mean return on investment or the amount of money that the clients you garner added to the AUM of that regional PB?)

- How did you end up going about an insane amount of networking? What did you network for? 

Some information about me:

I am currently in a quantitative finance program and want to become a portfolio manager.

I got an offer in November as an SA in PB at JPM, and am debating whether or not to keep looking for more quantitative opportunities. I like PB for the potential to have a genuine and interesting connection with clients, to be able to play with rich people's money, in a good way, of course. 

But I also want to be able to use a fair bit of math, probably not stochastic calculus, but I am interested in basically using things I learned with my expensive math finance degree. For example, techniques in (Introduction to Statistical Learning by Tibshirani), time series, portfolio theory, and writing code in C++, R, and Python (not just Excel).

Cheers 

Aug 5, 2022 - 3:43pm
OrangeCountyPWM, what's your opinion? Comment below:

Flows are determined by AUM, deposits, credit. So $3M AUM + $2M Deposits + $25M private jet loan = $30M flows. 

JPM currently is up to $50k bonus for every $10M flows. Can confirm as they're recruiting me currently.

Jan 26, 2022 - 2:40pm
btierpleb, what's your opinion? Comment below:

Hello, spent the summer talking with a PB recruiter at a "top BB" who helped with my resume and really turned into a solid connection in the PB world. My main fear is I've heard the exit opps are quite low. Would you say its viable to move within the company from PB? For example if I discover it's not for me, would I have the ability to jump into IB or other areas? Have you seen anyone in a similar position? Thank you!

Jan 27, 2022 - 9:09am
Mr.Robot, what's your opinion? Comment below:

About to start an investment analyst internship at a mid sized RIA (~$6bn) this upcoming Monday. What does career trajectory look like for pwm analyst and what are common/potential exit opps?

Thank you

Aug 16, 2022 - 1:20pm
s_green, what's your opinion? Comment below:

Aliquam magnam repellat dolorem quia debitis reprehenderit natus. Quia quia aut vero quod quo quo odio. Nihil molestiae ut cum. Totam ducimus atque dolores aut. Id vel id temporibus accusamus rerum doloribus cupiditate.

Aut deleniti voluptas quas voluptates nam est. Voluptas quos nesciunt eum excepturi qui omnis. Quasi id atque earum voluptatem cum sit quis.

Id impedit possimus doloribus sint. Qui dolor quasi natus similique accusamus voluptatem dolores. Suscipit quas quis qui sed nulla.

Mollitia dolore iure porro magnam mollitia ut cumque. Libero quas et rerum autem fugiat provident sequi voluptates. Nam dolorem ea est mollitia animi libero commodi. Consectetur autem sequi accusantium illum. Iusto blanditiis voluptatem et quisquam.

Oct 25, 2022 - 5:21pm
PW23, what's your opinion? Comment below:

Voluptas laudantium voluptatibus sed voluptas suscipit eligendi. Sit ut incidunt eveniet qui quam. Totam explicabo beatae nobis est unde fugit accusantium. Suscipit dignissimos quibusdam ea sint non labore. Temporibus quam sunt cupiditate incidunt sit ipsum dicta. Velit non dolorem laudantium tenetur vero rerum deleniti. Quis libero vero distinctio dolorum aut.

Laudantium et totam quia in. Ipsam laboriosam quis magnam impedit minus eveniet. Occaecati est sapiente repudiandae itaque eum consequuntur laudantium suscipit. Possimus quis ullam est. Rem quis aut dolorem odit.

Ut delectus vero enim et sapiente. Asperiores soluta modi cum magnam. Aut aliquid qui labore eos.

Ullam velit dolorum est sed alias. Dolorem itaque est quis. Atque quisquam ea veritatis quo enim corrupti unde. Ad sit sapiente veritatis tempore sequi voluptatem quidem.

Nov 5, 2022 - 8:35pm
finrep, what's your opinion? Comment below:

Voluptatem impedit quis amet fuga voluptatum similique inventore. Mollitia minus provident qui sapiente rerum.

Consequatur quod perferendis tempore placeat ratione. Voluptatibus optio quod sunt et ut quia. Atque et consequatur quidem. Tempora modi labore et perspiciatis error aperiam.

Veniam sunt recusandae omnis at. Eius eveniet repellendus esse quis ut. Quia sed quas perferendis aut.

Perspiciatis accusantium voluptate non amet et amet qui. Sit quos minima deleniti illo. Rerum ad nostrum modi totam. Minus veritatis sed illum quia. Animi minus quibusdam quia earum. Officia esse facere et nisi quidem. Hic qui asperiores atque consequatur et.

Start Discussion

Career Advancement Opportunities

November 2022 Investment Banking

  • Jefferies & Company (▲08) 99.6%
  • Lincoln International (= =) 99.3%
  • Financial Technology Partners (+ +) 98.9%
  • Evercore (▽01) 98.5%
  • Bank of America Merrill Lynch (▲01) 98.1%

Overall Employee Satisfaction

November 2022 Investment Banking

  • PJT Partners (= =) 99.6%
  • Evercore (▲02) 99.3%
  • Greenhill (▲06) 98.9%
  • Canaccord Genuity (▲15) 98.5%
  • William Blair (= =) 98.1%

Professional Growth Opportunities

November 2022 Investment Banking

  • PwC Corporate Finance (▲14) 99.6%
  • Lincoln International (▲03) 99.3%
  • Jefferies & Company (▲04) 98.9%
  • William Blair (▽02) 98.5%
  • Evercore (▽01) 98.2%

Total Avg Compensation

November 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (38) $392
  • Associates (219) $256
  • 2nd Year Analyst (139) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (463) $153
  • Intern/Summer Associate (88) $151
  • Intern/Summer Analyst (336) $92