I was hoping to consolidate into one thread all of the "10k salary bump" posts. Of course you get a 10k raise from 1st year to 2nd year, etc., but I'm talking about the salary bump that results in 2009-2010:
70k base for 1st years
80k base for 2nd years
90k base for 3rd years
Many people are "confirming" that they have "heard" this at different banks, but what i'm really looking for are people who can say, "yes, I spoke to my friend who is now a 2nd year at Goldman and he will be making 80k base this year"
Basically, at my bank, if we can prove that enough other banks are doing this, then we can get the same bump -- which would be awesome.
So, posters like "killscallion" and others, if you can truly confirm these increases, please state your source as above. I'd really appreciate it.
Thanks, everyone.
Goldman Morgan Stanley UBS Credit Suisse
All confirmed from analysts working there. Goldman has had those base salaries for a while now.
I haven't heard anything of the sort for incoming 1st year IBD analysts at UBS...are you sure??
For the first years, are you including the signing bonus as part of the $70K base?
good question, as that assumption fundamentally negates the proposed "increase" in base salaries....
I'm assuming he is referring to base salary ex signing bonus?
Does anyone know about BoA-ML?
My buddy says 60.
I received the information from others in my class: the now-second-year analysts who will be receiving an 80K base salary. No idea how it works for incoming first years, but I'm assuming salary will be raised for them as well. Signing bonuses are not included.
Im interested in hearing if boutiques are raising their salaries as well.
Boutiques like Evercore, Greenhill and Sagent Advisors already pay 70/80/90. Admittedly I don't know the salary levels of a lot of other ones, considering there are quite a lot of boutique banks. I'm under the impression, however, that most of the notable ones pay 70/80/90. This can be a major selling point as well when you are pitching for a salary increase.
final bump - so far my list is the following...
**Confirmed directly by me: Barclays Capital Citigroup Houlihan Lokey JPMorgan UBS
**Confirmed by WSO: Credit Suisse Evercore Goldman Sachs Greenhill Morgan Stanley Sagent Advisors
Any other last-minute additions before I present my case?
Are you confirming this with SOLELY 2nd year analysts? Because, I have no idea how you would find out that incoming 1st years are getting OFFICIAL confirmation of a 10k bump in base salary...
its still 60k.....
what about for incoming associates at ubs? is that base getting bumped up at all?
approx 30% bump in assoc base pay at UBS:
130/140/150 base for AD1/AD2/AD3
...assuming that base pay for stub year (first 6 months) will remain unchanged at 95
30% bump? Damn
Houlihan was an incoming; the rest were 2nd years and up. the official confirmation would be an offer letter with $70k on it.
When I say confirmed directly by me, I mean either me or a member of my class
How is Miller Buckfire comp? Haven't heard much about them. Anyone know if they are competitive with BBs and top boutiques with respect to bonuses?
When my friend worked there, analyst1s were getting 70k and slightly below market bonus. I'm also interested in Alvarez and Marsal, anyone know anything about comp there?
Not sure about comp, but I do know they are kicking ass and taking names and will probably have a record year.
That being said, I've heard historically the turnaround/consulting shops (Alix, Alvarez, Huron) don't compensate as well as the restructuring shops (Evercore, Rothschild, Lazard).
Any updates on comp at Jefferies?
According to DealBreaker, JPMorgan is boasting salaries for the 1st years, who will become 2nd years, to 80k.
I guess that would mean incoming analysts are getting bumped to 70k.
Has anyone heard anything about comp at the chinese/Japanese banks? They have all been in the news a lot lately (ICBC,Nomura, Mitsubishi UFJ, Mizuho, Sumitomo Mitsui, etc.), looks like they're trying to pickup share.
I understand comp is prob not equal, but they claim the life balance is a little better. However, I can't imagine doing the Lehman liquidation wasn't 20 hour days at the beginning.
I know a few people at Alix, I dont know how much they make, but I do know their hours aren't all that much better. I think its more like BigLaw hours.
Anyone know if any of these raises have been applying to S&T analysts as well as IBD?
citi just raises pay for 1st and 2nd year analyst to 70 and 80g
IBD & S&T have gotten increases at my bank
by the way, no increase for credit suisse 1st yr yet
Any word on 10k increase for UBS IBD NY for incoming first years?
I haven't heard anything regarding incoming UBS US IBD 1st year analyst pay raises...keeping fingers crossed!!!
Mission accomplished!
Thanks for your help in sourcing the information, everyone. I really appreciate the responses.
...another 10k closer to paying off those nasty student loans!
?
my first year analyst friend in JPM private banking just got his 10k base raise today (he's doing training now). said it's across nyc offices.
The 10k base raises seem to be limited to US banks.
DB, CS, UBS, BarCap have not followed suit. It'll be interesting to see what they do going forward.
And limited to New York City aparently...(I'm a non-NYC based first year at one of the above mentioned banks and no word of any bump)
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