2015-2016 salary & bonus discussion

bbcareerdreams's picture
Rank: Baboon | banana points 137

Let's talk about the 2015 - 2016 year bonus. Please list the firm, level, salary, bonus using the following format:

JPM, S&T, A0, 150k base, 175k bonus (75% cash, 25% stock)

investment banking pay 2016

Feb 1st update: Here is a compilation of the salary & bonus #'s thus far (pulled from comments).

  • Citi, A1,150k base, Mid Bucket 100k bonus (80% cash, 20% stock)
  • Citi, A1, 150k base, Top Bucket 130 bonus (80% cash, 20% stock)
  • Credit Suisse (CS), IBD, A1, 85k base, stub 25K (100% cash)
  • CS, IBD, A2, 90k base, Top Bucket 67.5k bonus (100% cash)
  • CS, IBD, A2, 90k base, Mid Bucket 50-55k bonus (100% cash)
  • CS, IBD, A3, 95k base, Top Bucket 85k bonus (100% cash)
  • CS, IDB, AO 0, 125k base, 35k flat bonus (100% cash)
  • CS, IDB, AO 1, 150k base, Top Bucket 110-115k bonus (100% cash)
  • CS, IDB, AO 1, 150k base, Mid Bucket 97k bonus (100% cash)
  • CS, IDB, AO 1, 150k base, Bottom Bucket 75k-90k (100% cash)
  • CS, IDB, AO 2, 175k base, Mid Bucket 125 (100% cash)
  • CS, IDB, AO 3, 200k base, Mid Bucket 160k (100% cash)
  • CS, IDB, AO 3, 200k base, Mid Bucket 190-200k (100% cash)
  • CS, S&T, A1, 85k base
  • CS, S&T, A2, 90k base
  • CS, S&T, A3, 95k base
  • CS, S&T, AO 1, 120k base
  • CS, S&T, AO 2, 140k base
  • CS, S&T, AO 3, 160k base
  • CS, VP, Start at 200k base
  • Mixed Banks, IBD, AO 1, 225k-275k total comp
  • Mixed Banks, IBD, AO 2, 325k-400k total comp
  • Mixed Banks, IBD, AO 3, 350k-430k total comp
  • Mixed Banks, IBD, VP 1, 375k-515k total comp
  • Mixed Banks, IBD, VP 2, 450k-575k total comp
  • Mixed Banks, IBD, VP 3, 500k-650k total comp

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Comments (177)

Jan 17, 2016

i heard mid bucket for A1 at Citi was $100 so $250 all in. My guess is at the $100k threshold it was either 80 or 75 cash, the rest deferred stock

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Jan 28, 2016

mid at Citi was 130k (25% stock with 4 year vest)

Jan 29, 2016

Is this A1?
-Nevermind, saw the original post.

Jan 18, 2016

Bump. Surprised there isn't a lot of interest in this.

    • 1
Jan 19, 2016

just added to frontpage, should get some more attention

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Jan 19, 2016
Jan 19, 2016

what bank is this / what's your source? Most BBs have not reported yet. Just Citi and MS to my knowledge. VP numbers look higher than I expected. These numbers look promising though.

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Jan 19, 2016

(At least) Citi, Jefferies, JPM, MS and RBC have communicated numbers. BAML and GS are this week. Not sure about others.

The numbers I have heard sound good. The bonuses maybe down a bit but more than offset by the higher salaries. Always have to look at total comp. If that 175k bonus for an A1 is true that is really strong - even on the old salary scale. Though 25% stock is really high for a junior person.

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Jan 19, 2016

What numbers have you heard to A0, A1, A2, A3 in S&T?

Jan 19, 2016

I'm in an industry coverage group so no idea on S&T.

A0 is a stub so not relevant (fixed amt). A1 have heard 260 middle bucket (though sometimes there are tiers of "middle" buckets). A3 top bucket have heard 390-410k. Have also heard some places giving out fewer top buckets and it is not uncommon for some groups to have zero top buckets.

To the latter point, for the uninitiated, at the bulges, there is a bonus pool and, while individual group revenue is obviously a factor in how the pie is cut, it is up to your group head to fight for how big a piece the group gets. At the Ass/VP level, your bonus is often not directly correlated to how well your group did. Some years that is a good thing, some years maybe not so good. Some places the amounts are pretty static at the same level, across coverage groups (e.g. A1 middle bucket in TMT = A1 middle bucket in Sponsors); other times you hear some pretty crazy variations even at the same level.

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Jan 19, 2016

I'm assuming you are talking about all-in comp...since these figures are way too high for bonuses. A1, $150K base plus $110K bonus sounds about right. If your A3 numbers are right, they seem pretty good actually.

Jan 20, 2016

JP communicates tomorrow and BAML isn't for another week and a half. The $175 bonus was for A2 I think, not A1. I've heard top bonus for A1 was $130 at Citi so $280 all in. Any idea on GS, JEF or RBC numbers?

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Jan 19, 2016

Which bank is this? What's your source for these numbers? I am assuming it's around the same in IBD vs S&T.

Jan 20, 2016

Also I expect s&t bonuses will be much lower than IBD in the current environment

Jan 19, 2016

bump. Where are the RBC folks? I thought RBC was the first bank to pay out bonuses every year.

Jan 19, 2016

How about EBs? Bonus numbers from Evercore, Lazard, Moelis, Centerview yet?

Jan 19, 2016

Analyst numbers don't come out until June though right?

Jan 19, 2016

I meant to say, for Associates

Jan 19, 2016

Analysts bonus numbers for MS and GS are out.

Jan 19, 2016

How do they look?

Jan 20, 2016

Not for GS...

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Jan 20, 2016
Puss:

Analysts bonus numbers for MS and GS are out.

GS comes out today after earnings.

Jan 20, 2016

Are we talking about analysts or associates?

Jan 20, 2016

If they're talking about 100+, they are likely referring to associates. 2nd and 3rd analyst bonuses typically range in the 50k-100k range.

Jan 20, 2016

OK -- just doing a sanity check. Thanks.

Jan 20, 2016

To be clear, most analysts across the street are now on a calendar year bonus schedule. Does anyone know any Analyst 2 or Analyst 3 numbers?

Jan 20, 2016

Are raises this year expected among BBs? At base or bonus level?

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Jan 20, 2016

I doubt it. I think base stays at $125K for A0, $150K for A1, $175K for A2, and $200K for A3.

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Jan 20, 2016
existor:

Are raises this year expected among BBs? At base or bonus level?

We just had raises last year for base. Won't happen again at the standard base for another few years. And until banks starting doing better, you won't see much upward trend in bonuses either.

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Jan 21, 2016

Base salary is pretty high these days. Not bad.

Jan 21, 2016

I heard Citi and GS s&t buckets were similar for analysts.
1st year stub: 25k, 85 base
2nd year: 30-60k, 90 base

Anyone have any idea on JPM or MS?

Jan 21, 2016

GS 30-60k for 2nd year analyst... does that seem a little low to you?

Jan 21, 2016

That's 120-150k all in as a 2nd year analyst (exactly 1.5 years out of undergrad).

Your 1st "year" analyst role is just 6 months (July to December) which is why you get a stub of 25.

Jan 21, 2016

My post refers to Sales and Trading (Securities Division) analysts only. I would expect Investment Banking analysts to get a bonus of 70-100k as opposed to the 30-60k I mentioned above.

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Jan 25, 2017

delete

Jan 21, 2016

"I heard Citi and GS s&t buckets were similar for analysts.
1st year stub: 25k, 85 base
2nd year: 30-60k, 90 base"

Heard similar, as well as 35k stub for 1st year associates for 1st 6 months

Jan 21, 2016

Heard around $40k as well

Jan 21, 2016

Is 1st-year AN base now $85k?! Nice
30-60 for 2nd year seems a little low... I thought M&A did better last year.
Just out of curiosity, what are the numbers like for S&T analysts?

Jan 22, 2016

See @nyc_monkey_credit post two above yours nitwit.

Analysts bonus numbers are low but how does YoY all-in compare? Can't remember if the BB base bump to $85k happened one or two years ago.

Jan 22, 2016
RupertPupkin:

See @nyc_monkey_credit post two above yours nitwit.

Analysts bonus numbers are low but how does YoY all-in compare? Can't remember if the BB base bump to $85k happened one or two years ago.

It happened one year ago. People are mostly mad because they expected all in comp to go up, it didn't. People like to look at their base and bonuses as distinct numbers, but they aren't, the total package is what the firms are bench marking too.

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Jan 22, 2016

I don't think people are mad because they expected all-in comp to go up. They're mad that it went down and revenue was flat with the same headcount.

Jan 22, 2016
Mephistopheles:

I don't think people are mad because they expected all-in comp to go up. They're mad that it went down and revenue was flat with the same headcount.

For most people all in comp was flat, not down. Also, there isn't the same headcount, not at the large firms as a whole. The back office/regulatory/compliance/etc headcount is exploding. GS went up 3k heads this year, which was almost 10%.

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Jan 25, 2016

Urban reply doesn't answer the question what does A0, A1 mean

Jan 21, 2016

Using GS 1st / 2nd year analyst (Bonus is now on CYE cycle) as a proxy

Back then when bonus were July Year End, first year analysts on avg. were getting 70K + 60K, 2nd year were getting 80K + 75K . so the average is ~$142.5k (call if $140k).

It's pretty much safe to say that street compensation for Analysts are going down ~15-20k this year. Personally I think this is largely due to the fact that the focus on retention has moved from the ANL to the ASOs. Too many attractive opportunities for ANLs out there. ASO comps all in generally appeared to be flat / up 5-10k from prior years.

Jan 22, 2016

Can people please be as clear as the OP? Thanks for sharing.

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Jan 22, 2016

base this year: unchanged
Bonus: you can still show up next monday for work

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Jan 22, 2016

Heard bonuses at MS were pretty depressing

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Jan 22, 2016

hmm

Jan 22, 2016

According to Dealbreaker, some MS analysts walked out after their bonuses missed their expectations. Maybe MS will start a mass analyst exodus this year lol

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Jan 24, 2016
hic217:

According to Dealbreaker, some MS analysts walked out after their bonuses missed their expectations. Maybe MS will start a mass analyst exodus this year lol

I didn't work out but sure will in a few months' time!! I'm AN3 but am really miffed.

Jan 22, 2016

What does A0, A1, etc mean?

Jan 22, 2016

Yeah is A1 analyst first year or associate?

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Jan 22, 2016

Son you're a VP, why are you worrying about lowly Analysts and Associates?

Jan 23, 2016

I'm a manager.

I found out my teams numbers on Wednesday (An and Assoc) and want to know what comps are like. They will not know until end Feb (euro bank).

You all have no idea how brutal it is to be the one telling ppl their numbers.

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Feb 5, 2016

I believe AO1 stands for first year associate and A1 for for first year analyst (AO0 stub half year for associate). Not sure what is up with the very high figures for A1 Citi-perhaps this should be AO..not exactly sure on the latter

Feb 5, 2016
SharpeShooter:

I believe AO1 stands for first year associate and A1 for for first year analyst (AO0 stub half year for associate). Not sure what is up with the very high figures for A1 Citi-perhaps this should be AO..not exactly sure on the latter

Lots of people were using AX for associate

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Jan 23, 2016

I see the comments about total comp being flat for analysts and don't think that looks to be the case. Top bucket last year at my MM IB for AN1 was $150k and $170k for AN2. While analysts aren't expecting $80K & $90K bonuses, flat comp would indicate $65K and $75K for the top band.

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Jan 23, 2016
rpc:

I see the comments about total comp being flat for analysts and don't think that looks to be the case. Top bucket last year at my MM IB for AN1 was $150k and $170k for AN2. While analysts aren't expecting $80K & $90K bonuses, flat comp would indicate $65K and $75K for the top band.

People are conflating stub year with first year and second year.

Jan 23, 2016

Do the stub numbers include signing bonuses for first years?

Jan 24, 2016
sporkuser:

Do the stub numbers include signing bonuses for first years?

Not sure about analysts, but definitely doesn't for Associates (A0). Standard MBA signing bonus is 50k.

Jan 23, 2016

Wells Fargo - IBD, Analyst 1, Base $85k, Bonus $70k, 100% cash.

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Jan 24, 2016

wuut? That's roughly 110k pounds. No way an analyst in a BB in London receives that much. NYC is different or WF is different?

Jan 24, 2016

Check Dealbreaker, Wells Fargo Bonus watch'15 .

    • 1
Jan 24, 2016
Satanonwallstreet:

Check Dealbreaker, Wells Fargo Bonus watch'15 .

Haha that's funny. 3 headlines popped up immediately on Dealbreaker:
1) Bonus Watch '16: Angry Citi Analysts Are "Motivated To Jump Ship"
2) Bonus Watch '16: Morgan Stanley Has Some "Furious" Junior Bankers On Its Hands
3) Bonus Watch '16: Goldman Sachs Analysts Are Not Pleased

Jan 25, 2016

Do you by any chance know if it differs between NYC and CLT?

Thanks.

Jan 25, 2016

Don't believe this, numbers don't come out until Feb. 20th at WF

Jan 25, 2016

That's for associates and above.
Analyst numbers come out in July/August.

Jan 26, 2016

ABF, S&T, some products are in February/March.

Jan 23, 2016

Any info on BB VP numbers?

Jan 24, 2016

Also, from 2 BB A0 associates I know at different banks:

IBD A0: 125k salary, 35k stub
Salary bump from 125k to 150k for A1 year

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Jan 25, 2016

Comp #s are starting to show up in the WSO Company Database...so don't forget to check there as well :-)

http://www.wallstreetoasis.com/wso-company-database

    • 1
Jan 25, 2016

Is there a way to see recent posts in the database?

Jan 25, 2016

If you go to any firm / bank in the database and go to the salary tab, you can see the salary datapoints will be sorted by year (so most recent up top) by default.

Jan 25, 2016

GS- bonus was 762K cash & 100K deferred stock. A few more years of this shit and then I'm done.

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Jan 26, 2016

CS telling everyone in the US numbers today, Europe/London next week.

Jan 27, 2016

I really didn't know much about it. But after checking all the messages of you guys I think I have pretty much knowledge now. Thanks for your valuable comments and make people aware about the salaries and bonuses.

Best Response
Jan 27, 2016

CS IBD (all cash)

ANL Stub - 25K Flat
ANL 1/2 - Top: 67.5k, Mid: 50-55k,
ANL2/3 - Top: ~85K

ASO 0 - 35k Flat
ASO1 - Top: 110-115K, Mid: 97k, Bot: 75k - 90k (outlier at 60K)
ASO2 - Mid: 125k
ASO3 - Top: 190-200k, Mid: 160k

Salaries below for the benefit of those who are interested

ANL 1: 85K
ANL 2: 90K
ANL 3: 95k

ASO 0: 125k
ASO 1: 150k
ASO 2: 175k
ASO 3: 200k

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Jan 27, 2016

[quote="silvermoon137"[/quote]
would you mind posting salaries as well?

Jan 27, 2016

Base for Associates is pretty standard now.

A0=$125K
A1=$150K
A2=$175K
A3=$200K

    • 1
Jan 27, 2016

Only if you give me a silver banana? lol jkjk see updated post above.

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Apr 11, 2016

From what I understand the stub gets paid in january, however my confusion is what you mean by "ANL 1/2 xxk." Does that mean that the rest of the bonus get paid in july/august after you have been there for a year? Or do you get the stub in january and then get the full first year bonus in july/august? Will be starting FT this summer so am trying to figure this stuff out before I start and not have to ask the HR people.

Jan 27, 2016

Has anyone heard any VP numbers?

Jan 27, 2016

VP 1 mid is 260-275k

    • 1
Jan 27, 2016

That's a bit too high for VP1 mid

Jan 27, 2016

lol that's the number bro. different across groups maybe

Jan 28, 2016
silvermoon137:

lol that's the number bro. different across groups maybe

What's the salary jump at VP? Is there a lot more variability?

Jan 28, 2016

250k base for all VPs at my firm, no escalation from VP1 to VP3

Jan 28, 2016

any word on top bucket?

Jan 27, 2016

.....

Jan 27, 2016

Bump. Anyone knows about GS/MS/JPM?

    • 1
Jan 28, 2016

These are roughly the base salary bands at CS, for both IBD and S&T. Discretionary (Bonus) varies from group to group. For S&T, overall bonus pool was down with regional comp varying as APAC desks seems to have come out the best with European desks following and the US comp being "abysmal".

IBD
ANL 1: 85K
ANL 2: 90K
ANL 3: 95k

ASO 0: 125k
ASO 1: 150k
ASO 2: 175k
ASO 3: 200k

S&T
ANL 1: 85K
ANL 2: 90K
ANL 3: 95k

ASO 1: 120k
ASO 2: 140k
ASO 3: 160k

VP: Start at 200k (up from 175k)

Jan 28, 2016

@ironlawofoligarchy do you know why associate s&t base is much lower than ibd? Is that just for CS or everywhere

Jan 28, 2016

I believe CS may underpay vs. the Street in that regard. If you think about it, IBD retention is much harder vs S&T and hence why banks are more likely to pay IBD juniors more.

Jan 28, 2016

is UK pay aligned with US numbers ?

Jan 29, 2016

Just curious, but if analysts receive bonus at year end, do they also receive a half-year bonus at the end of the 2 year stint in June/July?

Jan 29, 2016

VP1: $200 base, $290 bonus.

Jan 29, 2016

That base is not correct for VP1. Why do people post incorrect data here?

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Jan 29, 2016

As a VP1, I can confirm my own base, thank you. Did you think about the possibility that not every bank has the same comp structure?

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Jan 30, 2016

BBs and EBs have the same VP base salaries. I don't know VP base outside of that group. Are you at a small boutique or MM or regional office?

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Jan 29, 2016

If you're an actual VP just post your comp on here - no need to speculate on your bucket ...

I feel like all of these posts are from non-VPs posting what they heard. Also just post the total comp. Base + bonus please.

Also when you say VP1 I assume you don't mean the new VP promotes because $490 all in for an AS 3 is ludicrous.

The numbers I know of (this is a rough range mixing buckets and banks) - total comp

AS 1 - $225k - $275k
AS 2 - $325k - $400k
AS 3 - $350k - $430k
VP 1 - $375k - $515k
VP 2 - $450k - $575k
VP 3 - $500k - $650k

Jan 29, 2016

I'll post comp # on here once I know

Jan 30, 2016

Your numbers seem to be pretty accurate, although some of the upper ranges seem high. Is your data set from a mix of banks or just 1 bank? Thanks

Jan 31, 2016

I think my numbers are pretty accurate but they're all from BB. These were all numbers on sheets I've seen. The upper ranges I would say were achieved but not that common. There were people that were topped up above top so they may be higher than what you expect.

As for banks, it's primarily 2-3 banks

Jan 29, 2016

According to ibankerben 250k is street for VPs. Is 250k street for VPs? What could account for such a large different (200k vs 250k)

Jan 29, 2016

There is a lot of variation at the VP level in terms of base guys...

Jan 29, 2016

I know some places do $200, $225, $250 for VP1 - VP3, respectively, while others do $250k flat for all 3 years. Doesn't really make a difference as all firms manage to a total comp number.

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Jan 30, 2016

Associate 3 is $200K. Your VP comp data is simply wrong. Can people stop posting wrong information here?

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Jan 31, 2016

Have also heard of some groups having 200k base for VP. Considering there is a wide range of comp data for different banks as well as groups within those banks, I think it's reasonable.

Mid bucket A1 in my group was 300k all-in (150k bonus). Top bucket was 330k. Top group in elite boutique

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Jan 31, 2016

base doesn't even matter - just think total comp. No banks think in # of months for bonuses anymore

Feb 2, 2016

And now the cream of the crop ... is there a significant uptick from VP to MD?

Feb 2, 2016

ED and MDs have no ranges. Their pay can go above or below (i.e., a donut)

Feb 2, 2016

Or are you asking about base? MD base varies. GS pays MDs like 350 and partners 500? (I forget) or maybe its 500k and 750k for partners

Some banks have no uptick in base from VP to ED, some banks have 50k (250 -> 300k)

Feb 2, 2016
DebunkingMyths:

Or are you asking about base? MD base varies. GS pays MDs like 350 and partners 500? (I forget) or maybe its 500k and 750k for partners

Some banks have no uptick in base from VP to ED, some banks have 50k (250 -> 300k)

Historically, GS MDs have had a base salary of 500k and partners have had a whopping 900k base salary. This was definitely the case a few years ago, but am unsure if it has since been raised/lowered considering the changes in salary taking place at other levels.

Feb 2, 2016

Just curious, your source?

Feb 2, 2016

Friend was an analyst there before moving to PE. I believe if you do a search on google there are several bloomberg articles that confirm this, but I'm too new to post links. Not sure how reliable the articles are, but they do seem to corroborate what I heard second-hand.

Edit: Also, for what it's worth I've seen the same numbers thrown around here on the forums quite a bit.

Feb 2, 2016

I believe the UK has a 100% of base cap, not sure to what extent this is applicable to US banks located in London.

Feb 2, 2016

They also get around this by having a separate bucket of variable pay that isn't a bonus but also isn't base salary...it's essentially a non-performance bonus for being at the bank. They call it "role-based pay."

Feb 2, 2016

anyone know CS, DB, UBS S&T analyst 1 (not stub (analyst 0)), bonus numbers?

Feb 3, 2016

Assume 0-25k

Feb 2, 2016

He's right GS MD is 500k. I just had my numbers jumbled up. I thought it was 500k as I mentioned in my post. My source is I just asked one

Feb 3, 2016

Wait. Citi pays 1st year Analysts 150k base?????????

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Feb 3, 2016

Um, no highly unlikely that Citi pays 1st year Analysts 150k when Associates get 150k after their stub year...unless we are talking about all in comp. then that is a different story.

Feb 3, 2016

The question marks imply a question because that's what it is. I know Citi is around market for 1st years - $85k base. I don't know what "A1" is and the difference between that and "A0". I feel like this should've been defined somewhere.

    • 1
Feb 3, 2016

What's the difference, on average, between MM IB analyst bonus and BB IB analyst bonus?

Feb 3, 2016

Very group dependent but on average you can expect MM<BB<EB for bonuses

Feb 4, 2016

150k is all in. You guys need to stop talking base and bonus. It's all in comp. Banks run on compensation ratios and they back out what each person gets. Come bonus time its your total comp - base = what you get.

In the era of whining juniors and slower growth, banks have given people higher bases to smooth out cash flows for people but all in comp is same and frankly compensation ratios have been declining

    • 1
Feb 4, 2016
DebunkingMyths:

150k is all in. You guys need to stop talking base and bonus. It's all in comp. Banks run on compensation ratios and they back out what each person gets. Come bonus time its your total comp - base = what you get.

In the era of whining juniors and slower growth, banks have given people higher bases to smooth out cash flows for people but all in comp is same and frankly compensation ratios have been declining

Listen, you are absolutely right that firms benchmark to a total comp number. But the split matters, because one is discretionary and the other isn't. Time and again you hear about a firm going south and junior bankers getting pinched. Or we have another recession and they revise their total comp numbers down. In the worst of times a 0 dollar bonus does happen at some firms. So base vs bonus matters and a higher base is always better. And that doesn't even take into account the time value of money and all that.

Feb 9, 2016

Not really. Frankly in the worst of times (and I have been through the financial crisis) I can tell you total comp at the bank has been on a flat or upward trajectory

You miss the point because banks manage to a comp ratio between call it 30-50 pct. in the worst of years, no junior will be "pinched" and discretionary is not really discretionary for juniors. Banks typically lob off the top. No business head says if we pay all our analysts 30k less each we will make budget - the cost of retraining that analyst is 80k a year

And I can show you 2004 to now comp at bb for an 1 through as3 have not really hurt that much where the bonus base split made a lick of difference

The only issue is now you hear people complaining that "I only got 6 months not like 1 year plus like before"

Feb 9, 2016
DebunkingMyths:

Not really. Frankly in the worst of times (and I have been through the financial crisis) I can tell you total comp at the bank has been on a flat or upward trajectory

You miss the point because banks manage to a comp ratio between call it 30-50 pct. in the worst of years, no junior will be "pinched" and discretionary is not really discretionary for juniors. Banks typically lob off the top. No business head says if we pay all our analysts 30k less each we will make budget - the cost of retraining that analyst is 80k a year

And I can show you 2004 to now comp at bb for an 1 through as3 have not really hurt that much where the bonus base split made a lick of difference

The only issue is now you hear people complaining that "I only got 6 months not like 1 year plus like before"

Listen, you are generally right, but wrong in a volatile market. MS cut their comp ratio by a significant portion this year in a flat revenue environment. The margin is continually shrinking and that comp ratio isn't going back up as headcount continues to increase. Associates at Jefferies got 0 dollar bonuses in 2011. I expect you'll see cuts at DB this year. As a general trend across the street, its not an issue. But the split matters in individual situations across banks.

Feb 9, 2016

Again, comp ratio is at firm level. MS' comp ratio is diluted by the comp ratio at the investment bank, fixed income, equities, and most of all its wealth management business. All those run at different levels. I can tell you DEFINITIVELY that what I said about how comp is managed is true. My wife does HR at a BB and has for many years and she sees the comp for classes across all the banks (they all share it to benchmark. and please no one PM me for specifics because I won't share and frankly it's why my ranges above were so wide)

In years with ridiculous externalities (DB as you say), sure there will be blowback, but again at the senior level. DB was told bonus pool down 40% this year. However, no matter what, it is managed at a total comp level and the amount you can skim from analysts does NOT matter.

YoY, ever since 2006, the "buckets" for each equivalent class at the bulge brackets (I can't speak for Jefferies since the place almost went under) has been flat to up for juniors maybe down a tad bit but over a 3 year period its positive. Only other place where I know this was a problem was Lehman -> Nomura transition period where people were paid like Japanese IB employees globally

Anyhoo, I'm not disagreeing with you that sure some extra base is great for juniors but if you think at the end of the year, you were ever at risk of getting a different total comp number is ludicrous

Also, i think we're arguing about 2 different things. I just asked people to post total comp b/c that's how i think about benchmarking me vs. my peers. Knowing i had a 250 base but someone has 225 but their total comp is 30% more doesn't make me feel any better.

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Feb 4, 2016

Maybe a stupid question, but do experienced hires generally fall into the same pay structures as we're discussing here? For example, if you're picked up as an A3 or an AO1 as a post-MBA guy, but didn't come in from the SA route or FT recruiting right out of the program, would these numbers still apply? Additionally would you still expect a signing bonus on par with other MBAs or that ship sailed?

Feb 4, 2016

I think generally yes, these numbers apply across the board whether you went through regular FT recruiting

Feb 5, 2016

Anyone have a guess as to where SocGen, BNP, Mizuho, Nomura, and HSBC numbers will come in? Nyc for all

Feb 6, 2016

Associate 0 Base is $125K for banking. Not $150K. Probably they meant they were told $x bonus and got their base bumped to $150K now that they are Associate 1.

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Feb 7, 2016
D. Gonsalves Salazar:

Associate 0 Base is $125K for banking. Not $150K. Probably they meant they were told $x bonus and got their base bumped to $150K now that they are Associate 1.

A lot of boutiques are 150.

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Feb 7, 2016

Name that boutique.

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Feb 7, 2016

Moelis and Guggenheim start at $150k for A0. I believe that Evercore starts at $160k base.

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Feb 7, 2016

That's not correct and I'm 100% sure of that. Associate 0 starts at $125K. Associate 1 starts at $150K.

I think this forum just has way too many people who are misinformed and people like spaceArookie are perpetuating this. Stop posting wrong data when you are not 100% (i.e., you are either not an Associate or you don't work at a boutique you mentioned)

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Feb 7, 2016

deleted

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Feb 7, 2016

Stop posting wrong information. Unless you happen to actually work at one of the boutiques you mentioned above, stop posting wrong info. No, Guggenheim doesn't pay $150K for the stub period.

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Feb 7, 2016

No, actually you don't know what you are talking about. I'm heading to Evercore/Greenhill/Moelis, and A0 base pay is 150.

Feb 7, 2016

Yup A0 base is 150. I'm also at an EB. Not sure why gonsalvez salazahar is getting so upset about people posting their own data points. He threw MS at me above for posting my EBs comp for this year.

BB A0 base is 125, but this does not hold for several EBs

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Feb 8, 2016

Delete

Feb 8, 2016

D. Gonsalves Salazar is hilarious - I keep coming back to this thread to see who he is yelling at currently.

He told me earlier that I was wrong bout my own VP1 base because he apparently knows the comp structure of every bank globally.

Appreciate the desire for accurate information - but hes a loon.

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Feb 8, 2016

Holy shit, unless you know the exact comp details of every single bank, no, you are not 100% sure of that. I made an account just so I could add that at least one EB (my own) pays A0 150k base with no step up for A1. You are the one perpetuating misinformation.

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Feb 8, 2016

Which EB do you work at?

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Feb 9, 2016

A zero as in the few months between an 3 and the next full year? Think we used to pay 125 now a bit more.

We get 170 or 175 at as 3, 150 as 1 and 165 as 2?

Who cares it's total comp compare those

Feb 8, 2016
D. Gonsalves Salazar:

Name that boutique.

I can say for a fact Moelis and Perella are A0 at 150k.

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Feb 8, 2016

First of all, that's not true. Secondly, unless you actually work at either Moelis or Perella as an Associate, please don't just post wrong comp data.

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Feb 8, 2016
D. Gonsalves Salazar:

First of all, that's not true. Secondly, unless you actually work at either Moelis or Perella as an Associate, please don't just post wrong comp data.

I have personally seen an offer from both of those places at that rate to a current 2nd year MBA student. You're wrong, an idiot, and should be banned.

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Feb 9, 2016

First FULL year at a bulge -- I'm a 4th year equity research analyst (haven't released numbers yet). Current base is between 85-95...any idea of what I should expect in terms of bonus/raise? Should also be getting promited to AVP.

Feb 9, 2016

UBS Said to Freeze Investment Bank Salaries , Bloomberg.

Feb 12, 2016

Bump. Any more updates now that most comp #s are out?

  • Anonymous Monkey
  •  Feb 14, 2016

Does anyone know how common is a raise for associate salaries after first 6 months on the job?

Feb 20, 2016
undefined:

Does anyone know how common is a raise for associate salaries after first 6 months on the job?

Very common. "Street" is 125k from June/July though year end and then 150k for the AS1 year.

Feb 19, 2016

how were Barclays numbers that came out this week?

Feb 19, 2016

Heard 22.5k analyst 0 stub. Heard associate 0 stub was 35k.

Feb 22, 2016

Is this IBD?

Any news about S&T?

  • Anonymous Monkey
  •  Feb 24, 2016

Are all these figures for FO positions in NYC only?

Feb 24, 2016

Any updates to share?

Nov 26, 2017
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Mar 4, 2016

Appears to be a ton of information on BB IBD, but how about S&T numbers. Appears I'll be making less than my counterparts, but wondering how much less. Is the problem that it's just more variable or that this forum doesn't really represent that population?

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Mar 4, 2016

Agreed. Would like to see some S&T numbers as well.

Apr 8, 2016

What do you guys think a first year analyst average salary and bonus will be in a AM compnay like BlackRock, JP Morgan.

Apr 8, 2016

75k + 15k - 25k I'm guessing.

Apr 8, 2016

Thanks, do you think starting a career in a AM company is a good way to get into a hedge fund.

Apr 8, 2016

Only if your job function has overlap with the skill set required at a HF (securities analysis, etc)

Apr 11, 2016

Why do these numbers differ so much from the below:
http://www.businessinsider.com/wall-street-pay-at-...

Apr 11, 2016
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