'08 First-Year Base Salary

All for one and one for all, right? Looking for additional data points on what kinds of #s people are seeing in offer letters. Obviously this is going to be for the SAs with offers, since the fall recruiting season hasn't kicked off in earnest yet.

Point is to see what's the low-ball #. Without revealing too much, my bank clearly thinks the market is going to go to hell, the base is a considerable drop from last year's. Once the post picks up speed I'll drop the #s

Comments (4)

Aug 29, 2007

BoA is still offering 60K a 0% increase from '07 and a 9% increase from '06

Aug 29, 2007

I'd be absolutely shocked if any major bank decreased base salaries in any division of the bank for either analysts or associates. Base salaries haven't dropped in at least the last 10 years. Associate salaries, for instance, were 85K base from the late 90s through about 2004 or 2005, when it went to 95K. No way they'll change that. They'll just screw you come bonus time.....

Aug 29, 2007

None of it matters. Skins is right, none of the banks are going to significantly change anything and lets be honest, we are talking about analyst pay. its not like a measly 60k a year makes that much difference to these banks even in a slowing economy. And even if they offer you 55 or 65, you are still going to be broke trying to live in NYC and everything will go on credit card. And you wont have any money til bonus time anyway. There is the real issue in this discussion. Salary won't change, you need to be asking where bonuses have panned out in down years compared to up years. Because offer letters don't disclose any bonus guarantees, nor should they. So you could go from 100% to 40% and the bank owes you nothing.

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