2011 IBD Analyst Bonus Prediction

Hey guys,

It may be too early to say how the 2011 bonus payout across investment banks is going to be. I still wanted to see what you think would be the 2011 bonus level for IBD analysts.

Between 40K and 70K for first year analysts? What do you think?

Thanks guys.

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Comments (139)

Jan 19, 2010

Isn't that basically the 25th-75th percentile payout anyways (i.e. most years fall between 40K and 70K)? That's not really any kind of prediction. And in any case, it's waaaaay too early to speculate on bonuses to be paid in 17 months...seriously.

Jan 19, 2010

Better question: why do you want to know??

Jan 19, 2010

If you can predict this, please predict 2010-2011 DJIA.

Jan 19, 2010

We don't even have a f-ing clue about the 2010 numbers...so wtf...

Jan 19, 2010

LOL @ SarahP

Using his modeling techniques, he would likely predict 8000-12000.

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Jan 19, 2010

how about we comment on 2010? last year top tier for 1st year was c. 50k. Pls comment on 2nd/3rd year too

Jan 19, 2010

90k for me. But probably 60k for you losers.

Jan 19, 2010

If top class of 2008 Associates are around 175-200 this February, then top analysts could reasonably expect 75, 100, 125 for 1st, 2nd and 3rd years respectively.

The obvious caveat is that 1H 2010 is as good or better than the current trend we're experiencing.

As for 2011?? Who knows. My personal guess is that 2011 is going to be a big letdown year. We can't continue on this cocaine-addicted economy forever. Higher rates we probably dampen capital markets activity and may make many M&A deals tough to finance. But, again, that's just my opinion.

Jan 19, 2010
BananaStand:

If top class of 2008 Associates are around 175-200 this February, then top analysts could reasonably expect 75, 100, 125 for 1st, 2nd and 3rd years respectively.

The obvious caveat is that 1H 2010 is as good or better than the current trend we're experiencing.

As for 2011?? Who knows. My personal guess is that 2011 is going to be a big letdown year. We can't continue on this cocaine-addicted economy forever. Higher rates we probably dampen capital markets activity and may make many M&A deals tough to finance. But, again, that's just my opinion.

Your opinion is idiotic. 2010-2011 M&A and IPO activity will be huge.

Jan 19, 2010
BananaStand:

If top class of 2008 Associates are around 175-200 this February, then top analysts could reasonably expect 75, 100, 125 for 1st, 2nd and 3rd years respectively.

The obvious caveat is that 1H 2010 is as good or better than the current trend we're experiencing.

As for 2011?? Who knows. My personal guess is that 2011 is going to be a big letdown year. We can't continue on this cocaine-addicted economy forever. Higher rates we probably dampen capital markets activity and may make many M&A deals tough to finance. But, again, that's just my opinion.

feels too aggressive. i would say

40-60k for 1st years
50-70k 2nd years
60-80k for 3 years.

edit: this is in conjunction with the base-raises to 70/80/90k, respectively.

Jan 19, 2010

Tiger, thanks for your opinion. Please show me where I said 2010 M&A and IPO activity would be slow or sub-par?

I specifically mentioned 2011 as the letdown year. Do you honestly think that capital markets activity will continue to boom like this once the government has stopped buying securities and started to raising rates? My point is that the extremely attractive financing markets of 2009 and 2010 will end up stealing future business from 2011.

Right now everyone and their mother can access HY markets to refi in the high single digit and low double digit coupons. We are at pre-crash coupon levels (albeit not all-in leverage levels). This will not continue once rates start to creep up. And when that happens people will no longer "opportunistically" access debt markets and the fee wallet will shrink quickly.

IPO markets are clearly the wild card. Alot of PE funds may need the exit even if the valuation isn't a homerun.

I don't think 2011 is going to drop off a cliff the way things did in 3Q 2007, but it will also be nothing like 2009 and 2010.

Jan 27, 2010

any updates?

Jan 19, 2010

im a 2nd year and would be really happy with 80k

May 24, 2011

bump approaching that time of the year... what are your bets?

May 24, 2011

so UBS gets no bonus ?

Jun 4, 2011
Dibbs:

so UBS gets no bonus ?

Lol, analysts got paid above street there last year. The issues apparently come as you go up the ladder, though a report I saw said they paid a higher percentage of their revenue in compensation than anyone on the street - and by a large margin at that.

Jun 4, 2011
no homo:
Dibbs:

so UBS gets no bonus ?

Lol, analysts got paid above street there last year. The issues apparently come as you go up the ladder, though a report I saw said they paid a higher percentage of their revenue in compensation than anyone on the street - and by a large margin at that.

I read the bonuses were barbell shaped, MD's and analysts got paid and everyone else in the middle got screwed over. Apparently they didn't want MD's to leave and grad recruiting is apparently a pricey endeavor.

May 24, 2011

I think based on the trailing twelve months and year-over-year that M&I shows, it is fair to reach the same conclusions that they did. 0-10% increase seams reasonable, but 0% increase seems realistic. I can't imagine it going down as M&A and IPO activity are obviously both going to be up, and the numbers are up from last year.

May 25, 2011

Bump. Surprised theres been so little chatter on this at the end of May.

May 25, 2011

bump. i've heard numbers being flat this year - given that some banks are under regulatory scrutiny and deal flow hasnt been crazy this yr. would love to hear more thoughts.

Jun 2, 2011

Flat is the new up. I will take flat YoY, as bonuses have been flat to down since 2008.

May 24, 2011

Any news? No performance reviews or any discussions at my bank yet

Jun 2, 2011

I suspect analysts starting this summer will have a strong bonus season next year given the huge pickup in activity. I think this year we're staying flat to maybe a +10%.

Jun 3, 2011

I think first year bonuses come out in 2-3 weeks.

Jun 3, 2011
Schwarzmanegger:

I think first year bonuses come out in 2-3 weeks.

i personally know a MM shop is paying in 3 weeks. Is this for other banks as well though?

May 24, 2011

At my bank performance reviews are supposed to be given sometime in June (probably next 2-3 weeks) but, as far as I understand, bonuses are NOT discussed. Last year bonuses were paid mid-August. Not sure when they were announced.

Jun 3, 2011

Didnt top places range from 70-100 for first years? I dont see how a flat bonus could be bad, at least at those places.

Jun 3, 2011
bigbadanalyst:

Didnt top places range from 70-100 for first years? I dont see how a flat bonus could be bad, at least at those places.

No. Top bucket most places was $65k. There are a few places that pay above street but that was the norm

"Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the United States of America."

Jun 3, 2011

70-100k lol...i wish.

$65k was the top bucket at several of the better banks and not the norm across banks on street. If you want more money, go to good boutiques and you will get compensated better than your BB peers.

Jun 3, 2011
Ricqles:

70-100k lol...i wish.

$65k was the top bucket at several of the better banks and not the norm across banks on street. If you want more money, go to good boutiques and you will get compensated better than your BB peers.

I did say the higher end banks. Lots of my friends are going to places that payed 70+ for top bucket or for everyone in the case of the boutiques Either way, I dont see how a $65k bonus for a first fucking year out of college is anything to laugh at.

Jun 4, 2011

GHL is prolly gonna be 80k for top bucket 1st yr

May 24, 2011

any news? banks will announce bonuses in the next two-four weeks... let's see who's first

Jun 20, 2011

you have to realize that at most BB's, few people end up getting top bucket... expect 50-60 for 2nd/3rd bucket

Jun 29, 2011

Well here is the first data point I have seen for June: $95k for 3rd yr bonus (up about 10% from last year 3rd years) for a stronger mid market bank outside NY. Given how payouts have been there vs other friends at BB I would expect (if history is any indication) that top buckets @ BB would be in the 80, 90, 105 range for 1st through 3rd years, but just a swag guess.

May 25, 2011

very interesting. thanks for sharing.

Jun 29, 2011

I remember last year Citi and JPM gave out the highest bonus of 65k to first years yes?

Jun 30, 2011
1styearanalyst1:

I remember last year Citi and JPM gave out the highest bonus of 65k to first years yes?

Completely false. BB pay less than top boutiques. For example, EVR had range of ~69k (low tier) to ~79k (top tier)

May 24, 2011

Bump. Which banks have already announced bonuses?

Jul 18, 2011

What is the update on this? In past years, the first round of banks would announce mid-Jul with the rest announcing first week of Aug. Which banks have announced? Haven't seen the spreadsheet circulating anywhere yet.

Jul 18, 2011

I am hearing something like:

$60-70k for top-tier 2nds
$80-90k for top-tier 3rds

Typical MM shop

Jul 19, 2011

If you went to Harvard, probably in the 100k to 150k range, if you didnt,
1. what the fuck are you doing at an investment bank
2. try to get a new job before you are fired.

Jun 29, 2011
Unionbusters without Borders:

If you went to Harvard, probably in the 100k to 150k range, if you didnt,
1. what the fuck are you doing at an investment bank
2. try to get a new job before you are fired.

$100-150k because your unearned wealth needs to be subsidized since your most successful alumni are dropouts (so take a cue, cause you sound more like a summer analyst). I'd suggest a few less forum posts until you move out of your 7x7 cube or at least close a deal (doesn't even have to be your own).

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Jul 19, 2011

any banks that announced yet?

Jul 19, 2011

Unionbusters is pissed because he went to Harvard and didn't get an IB offer. Congrats at being a nontarget in life, Union.

Jul 18, 2011

MCA, appears you're at MQG. Have you guys actually announced yet?

May 24, 2011

No announcements yet?

Jul 18, 2011

The lack of numbers posted on here leads me to conclude either

1) All the banks are pushing back announcement to end of Jul, hitting accounts in mid-Aug or
2) Numbers that have been announced so far were bad (highly possible given GS and MS stub earlier this year) and people don't want to talk about it

Jul 20, 2011
patrick_bateman2011:

The lack of numbers posted on here leads me to conclude either

1) All the banks are pushing back announcement to end of Jul, hitting accounts in mid-Aug or
2) Numbers that have been announced so far were bad (highly possible given GS and MS stub earlier this year) and people don't want to talk about it

1

Jul 20, 2011

We got pushed back because nobody else had announced, and nobody wants to be the first.

Jul 18, 2011

Lebron, what kind of bank are you at?

Jul 20, 2011
patrick_bateman2011:

Lebron, what kind of bank are you at?

Boutique

Jul 21, 2011

Numbers are out.
BAML
50 / 70 / 90

Jun 30, 2011
PA:

Numbers are out.
BAML
50 / 70 / 90

Can you give a little more detail. Is that buckets for first years? Or across years?

Jul 20, 2011
PA:

Numbers are out.
BAML
50 / 70 / 90

Not certain of your source, but BAML doesn't release until the 28th

Jul 21, 2011

MM Bank

$60 / $80 / $100

Top-tier across the three years

Jul 21, 2011

I want to know how much Qatalyst bonus was..

Jul 21, 2011
TheKid1:

I want to know how much Qatalyst bonus was..

are they "killing it"?

Jul 21, 2011

UBS 50 / 65 / 80

Jul 18, 2011

FTPiper, are you at UBS? And what was the spread for each year? $15?

Jul 21, 2011
patrick_bateman2011:

FTPiper, are you at UBS? And what was the spread for each year? $15?

Do you mean spread for lower buckets? I think FTPiper posted top bucket for 1st/2nd/3rd year.

Jul 18, 2011

Yes, that is what the spread is. Top bucket through bottom bucket. Usually $15.

Jul 21, 2011

Number's for a top middle market bank:

Top bucket 1st years: 65k
Top bucket 2nd years: 80k

Jul 18, 2011

Sounds like everyone's about flat Y-o-Y.

Jul 21, 2011

New normal.

Jul 22, 2011

.

Jul 21, 2011

Mod Edit: Poster is a tool and thus his post was edited

Jul 21, 2011
FTPiper:

Qatalyst
100 / 120 / 140

WOW

Jul 21, 2011
FTPiper:

Qatalyst
100 / 120 / 140

DAM and Isn't starting salary for them 80+ 10K signing bonus?

Jun 3, 2011
TheKid1:
FTPiper:

Qatalyst
100 / 120 / 140

DAM and Isn't starting salary for them 80+ 10K signing bonus?

yep. i heard it's 80k base

Jul 25, 2011
FTPiper:

Qatalyst
100 / 120 / 140

oh shit that's ridiculous

I banana back

Jul 20, 2011

Communication Dates (confirmed):

UBS - 7/28
BAML - 7/28
BarCap - 7/27

Jun 3, 2011
BabyBeluga:

Communication Dates (confirmed):

UBS - 7/28
BAML - 7/28
BarCap - 7/27

citi is end of july as well

Jul 25, 2011
Ricqles:
BabyBeluga:

Communication Dates (confirmed):

UBS - 7/28
BAML - 7/28
BarCap - 7/27

citi is end of july as well

Does anyone know the exact date for Citi?

May 24, 2011

Where did you get those dates?

Jul 19, 2011
mrvau:

Where did you get those dates?

Blowjobs. Lots and lots of blowjobs.

Jul 20, 2011
mrvau:

Where did you get those dates?

Confirmed from highly reliable sources.

Jul 28, 2011
BabyBeluga:
mrvau:

Where did you get those dates?

Confirmed from highly reliable sources.

Those dates are correct. FT Piper is blowing smoke

Jul 25, 2011

BS on Qatalyst.

May 24, 2011

What about JPM communication date?

Jul 25, 2011

...

Jul 25, 2011

Bonus for bulges is looking pretty pathetic. Middle market is looking more attractive than ever.

Jun 3, 2011
Investar:

Bonus for bulges is looking pretty pathetic. Middle market is looking more attractive than ever.

Any data to back it up?

Jul 18, 2011

JPM gets numbers end of July, hits account mid-Aug.

Jul 25, 2011

What numbers have you heard for BB's?

Jul 25, 2011

Qatalyst representin'

May 24, 2011

I guess that first bonuses will hit accounts this coming 31th?

Jan 19, 2010
mrvau:

I guess that first bonuses will hit accounts this coming 31th?

August 15

Jul 25, 2011

payouts will be on schedule with pay cycles. some biweekly some twice a month (15th)

Jul 27, 2011

Barclays #'s out. 70/85/100

Jun 30, 2011
jp0975:

Barclays #'s out. 70/85/100

Is that top bucket for 1st/2nd/3rd year?

Jul 28, 2011

FTPiper is troll.

Jul 21, 2011

Mod Edit: Poster is a tool and thus his post what edited.

Jul 28, 2011
FTPiper:

UBS
75 / 85 / 120

FTPiper that is not accurate and neither were your Qatalyst numbers, please stop posting bs on here.

Jul 18, 2011

BCS, CS, DB, RBC, UBS. Guys, just make a new account and post. Thanks.

Jul 18, 2011

jp0975 your numbers are wrong.

Jul 25, 2011
patrick_bateman2011:

jp0975 your numbers are wrong.

confirmed with first year at Bar, those numbers are right

Jul 28, 2011

I heard 70 / 1Y and 100 / 3Y at BarCap as well and DealBreaker also reported 100 for 3Y. Not sure about 2Y. Patrick what did you hear? Can someone from BAML, UBS, CS, DB post please? Just create another account if you're worried about identity.

Jul 18, 2011

Looks like 2011 Street (two different BBs) is 65 top first year, confirmed from several people I went to school with at each bank. The problem with WSO is high school kids repeating what they heard from each other.

Have any boutiques announced yet?

Jul 28, 2011

What did you hear for 2Y and 3Y?

Jul 29, 2011

I work at CS (1st year) and got 58k. A couple other analysts here (in other divisions, even) also got 58k. Have no idea what bucket that is, though, but it's not bottom.

Aug 1, 2011
gekkolives:

I work at CS (1st year) and got 58k. A couple other analysts here (in other divisions, even) also got 58k. Have no idea what bucket that is, though, but it's not bottom.

You obviously got middle bucket.

Way to put yourself on blast.

BTW were GS and MS 1st year Jan stubs the same this year?

Aug 2, 2011
Lord Blankfein:

BTW were GS and MS 1st year Jan stubs the same this year?

Quite interested by GS/MS Jan stubs... can't find a lot of information on it (no bucket for stubs?)

Jul 27, 2011

CS top 1/2/3 yr was 66/80/105

Jul 18, 2011

Let's get an update here. I know at least one BB is announcing today.

Jul 18, 2011

Different approach: I have personally confirmed numbers for BCS, UBS, CS, JPM and GS / MS (stub). I will trade for boutique numbers.

Jul 21, 2011

why not just post them?

Aug 1, 2011

average across street: 60 top, with 15 top-bottom spread
if you still are asking for more info, you should probably start looking for a job right about now

Aug 1, 2011
LTV:

average across street: 60 top, with 15 top-bottom spread
if you still are asking for more info, you should probably start looking for a job right about now

Average across the street top is 65-70k.

3 BBs reported 70k.

Jul 18, 2011

LTV your top number is off

Aug 2, 2011

For BB first years:

BAML: $60k
Barclays: $70k
CS: $65k
DB: $65k
JPM: $70k
UBS: $65k
Wells: $70k
RBC: $65k

Aug 2, 2011

.

Aug 2, 2011

Anyone have info on the european banks? Wondering how the situation over there will affect them.

Jul 18, 2011

The last time I checked, BCS, CS, DB, and UBS were all still European.

Aug 2, 2011
patrick_bateman2011:

The last time I checked, BCS, CS, DB, and UBS were all still European.

haha my bad, looking for the french banks

Jul 18, 2011

Some boutiques should be announcing this week as payout is next week.

Aug 2, 2011
patrick_bateman2011:

Some boutiques should be announcing this week as payout is next week.

Qatalyst First Years: $90-$100k

No, it's not a joke

Aug 1, 2011
squawkbox:
patrick_bateman2011:

Some boutiques should be announcing this week as payout is next week.

Qatalyst First Years: $90-$100k

No, it's not a joke

80k base as well

$180,000 at 23 is pretty ridiculous.

Aug 4, 2011

BB firm (approx ranges)

3rd yr 210-250k (all in)
2nd yr 170-210k (all in)

Bonus as % of base is not comparable because of housing etc

Jul 18, 2011

randomguy, there is no BB that pays those numbers in the U.S.

Aug 4, 2011
patrick_bateman2011:

randomguy, there is no BB that pays those numbers in the U.S.

My numbers are based on Asia (HK/Sing/India). Does that seem too high for US?

Jul 18, 2011

Let's get some more boutique numbers on here.

Aug 9, 2011

ds

Jul 18, 2011

When do GHL and EVR announce?

Jul 18, 2011

And also LAZ, Moelis, PWP, BX.

Aug 10, 2011

My friend who just graduated from College (not me) at one of the top 5 PE has been offered $180,000 base. The person could get somewhere aroun $300,000 including bonus.

Another friend who just graduated from college and starts at a very famous Quant fund with $175,000 base.

Aug 10, 2011
mulandee:

My friend who just graduated from College (not me) at one of the top 5 PE has been offered $180,000 base. The person could get somewhere aroun $300,000 including bonus.

Another friend who just graduated from college and starts at a very famous Quant fund with $175,000 base.

Damn that's high dude. Ivy grad I suppose ?

Jun 29, 2011
mulandee:

My friend who just graduated from College (not me) at one of the top 5 PE has been offered $180,000 base. The person could get somewhere aroun $300,000 including bonus.

Another friend who just graduated from college and starts at a very famous Quant fund with $175,000 base.

I haven't really heard of them hiring out of undergrad directly unless it's in advisory (not PE). Also, I know someone with 3 years banking experience and they didn't get hired on at $180 base at KKR so I'm calling BS. $300k all in is high for directly out of undergrad, but not completely absurd for 2-4 years experience.

Also junior guys at quant funds can often carry unusually high bases (although that would be the largest I've ever heard of out of school), but that's usually because they don't get hardly any performance bonuses and their base just stays mostly flat year after year as they earn into heavy performance bonuses.

I don't have the end all, be all of data points but have been around long enough with some pretty close friends that would leave me to believe there is something not quite right about your data. Maybe I'm just sheltered and naive down here in Texas.

Jul 18, 2011

The PE number is definitely BS.

We get our numbers early next week. Elite boutique.

May 24, 2011

So all numbers are out. Top 1st year was 65-70. Top 2nd 80-85. And top 3rd was 100. Everyone agree?

Jul 21, 2011

I can confirm that a second year S&T analyst got a 110K bonus.

Jul 18, 2011

PWP still hasn't paid its analysts yet. Anyone hear what's going on?

Aug 22, 2011

@mrvau: your numbers look pretty much right. Top 3rd across the street was 105 I think (maybe at JPM if I remember right).

Aug 22, 2011
Aug 22, 2011
Jul 18, 2011