2018 /2019 Commercial/Corporate Banking Bonuses

I haven't seen too many posts on what bonuses and salaries are like nowadays since the 2017 thread. Curious to see if the pay bump at that associate-level affected Corp Bank or Comm Banking?

Here are the numbers standing since the last update:

Corporate Banking :
A1: $85k + ~$45k
A2: $90k + ~$55k
A3: $95k + ~$65k

Aso 1: $140k + ~$80k-$100k
60-70 hours/week on average. Summers are more around 50; heavy deal flow around 80. Some weekends. NYC

Maybe easier to keep the same format like the 18/19 IB thread.

Title: (As / VP / D / MD and year being paid on)
Rank: (Top / Mid / Bottom)
Bank type: (BB / EB / MM)
$:
% Cash:

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Comments (97)

Feb 12, 2019 - 6:58am

Posting under throwaway for anonymity.

Title: As1 - Commercial Banking (Relationship Management)

Base: $110K
Bonus: $40K
Hours: 40-45 with a few days of travel per month. Never more than 45 hrs.
Bank: Top 10 Commercial Bank

NYC. Can't complain but I feel like my base might be a little low.

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Feb 13, 2019 - 3:10am

Out of curiosity, any idea what base and bonus looks like for Associates? I just started at a Big 5 as an Analyst in Corp Banking.

Sep 5, 2019 - 12:12am

Is your salary for the US office of a Canadian 5 or for a Canadian office? Specifically, I'm wondering if BMO Capital Markets US office first-year analyst would pay similar to what you listed ($80k salary plus $20k bonus).

Feb 12, 2019 - 8:29pm

I work at a Tier 1 BB in S&T from my colleagues in Corporate Banking typically A1 bonus is between 10 - 40% of base with a base salary of 80-85K.

Feb 13, 2019 - 2:51am

Can someone elaborate on what corporate banking means? Is that corporate m&a or development/strategy or just fp&a? I keep seeing the title being thrown around with multiple meanings.

Feb 13, 2019 - 2:43pm

Title: As -1 (Commercial Banking - Rel mgmt.)
Rank: Top
Bank Type: Top CB
$75k
~15% ($86ish all in)
Hours: Never >45 hours. Probably average under 40 if you take out lunch breaks
Tier 17 city

Anecdotally, it seems that the pay in commercial banking starts relatively low and ramps up quickly around the 4-5 year mark. At the VP level I expect to make $120+50% and $150+70-150% at the SVP level. For point of reference, on my path the VP level would be a junior relationship manager and SVP is a full fledged relationship manager.

Feb 13, 2019 - 7:04pm

What does BAML/JPM/WF pay first year Commercial Banking Associates? Not Corporate..

I started at one of those shops and my first year Analyst pay was $65K + $9K bonus, second year Analyst pay was $70K + $11K. Tier 2 city. Analyst pay started at $75K in NYC I believe. Curious to know what kind of salary bump you got once you moved up to Associate

Feb 18, 2019 - 12:12am

Bank Size: $20-$50b assets
Title: VP- Commercial Banking (RM) / 5-7 years experience
Base: $110k
Bonus: $10k
Hours: 35-50

Location: Tier 2

I'm constantly wondering whether the move to Corp Banking is worth it. In my current path, I'm about two years away from $150k base + $25k bonus with continued flexible hours. Commercial Banking salaries ramp up quickly (I was $96k base a year ago), but bonuses are always light. Salaries stall out until you're a regional manager, which requires about 15 years experience. On the BB Corp Banking side, salaries jump $20k every year as an assoc until you hit the VP promote and then you start hitting $300k-$500k all in. Clearly it's a more lucrative path, but requires 60-70 work weeks, which is painful once you start a family.

Jarrod B
Mar 1, 2019 - 1:28am

As a data point, I can confirm that senior associate comp in my group (CIB) is in the $300K+ range while VP comp is within the band that you've stated. Personally I think that associate is a sweet spot in CB in terms of pay to hours. Once you're a VP nearing director promote, you're routinely hitting 60-70 hours when you factor in the constant travel. I've had VP's working in the office with me until 1-2AM when we're on a fire drill. I'm sure this isn't new info to you, but hopefully it helps you decide.

Feb 28, 2019 - 5:32pm

Title: An2 (1st full year after 2017 stub year)
Rank: top
Bank type: non-bb
Base+Bonus: $63k +$18k
Hours: 45-60
Location: Tier 2 city (Phila. / Atl. / Boston)

Jun 28, 2019 - 2:58pm

As2
Rank: Top
Base: 125k
Bonus: 75k
Hours: 70 (50 to 60 hours in the summer)
Loc: NYC
Large Canadian bank

Note that when I say it's a top tier bank, I'm referring to the specific group within corporate banking that I fall under. Most banks would put my group under structured finance or even leveraged finance, but Canadian banks tend to group us within corporate banking (since that's how it's grouped in Canada, which is a much smaller market). However, to compensate, they pay us a little more in the bonus than the other corporate banking groups would receive.

Aug 28, 2019 - 6:08pm

Question for those is commercial or corporate banking.

If I were to work in commercial banking for my 1st year after Undergrad, would it be viable to move into Corporate Banking the year after? In my opinion it seems like a pretty easy transition but I wanted to see what everyone else has to say.

Aug 30, 2019 - 12:18pm
pullupj9:

Question for those is commercial or corporate banking.

If I were to work in commercial banking for my 1st year after Undergrad, would it be viable to move into Corporate Banking the year after? In my opinion it seems like a pretty easy transition but I wanted to see what everyone else has to say.

Hello,

It is possible - I've seen people do it by looking at their LinkedIn work experiences, but this is rare. Typical time from commercial banking to corporate banking is about 5-7 years if you just move up the ladder (1 year training, 2-3 years regular commercial, 1-2 years senior commercial). The best way to do it is to lateral from commercial in one Big 5 bank to Corporate in another Big 5 bank.

It also helps if you have the CFA to show that you're smart enough to do corporate banking work versus commercial banking work.

Hope that helps - feel free to PM for more info.

STONKS
  • 1
Sep 6, 2019 - 11:36am

Definitely possible. After finishing my undergrad I did a commercial banking associate training program and instead of being placed permanently in one of the groups I made the jump into corporate banking

Aug 31, 2019 - 1:56pm

Got an offer (that I'm going to decline) from an international bank (BNP/Mizuho/MUFG/SocGen) on the credit side. Corporate Banking credit.

Title: AS2
Base: $120K
Bonus: $35K (target)
Loc: NYC

Array
Oct 20, 2019 - 11:03am

Associate, Corp Banking at MM, SF, $115K + 40% all cash

Mar 4, 2020 - 5:13pm

Financial analyst 1? Like a first year Commercial Banking analyst? At those shops (regardless of city) they should be making $65K base minimum.

Bonus target is also low unless that's stub.

Array
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Total Avg Compensation

August 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (36) $363
  • Associates (211) $232
  • 2nd Year Analyst (121) $152
  • 3rd+ Year Analyst (28) $146
  • Intern/Summer Associate (102) $144
  • 1st Year Analyst (450) $132
  • Intern/Summer Analyst (359) $82