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:

Comments (90)

Feb 12, 2019

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.

    • 4
Feb 12, 2019

That's solid given hours. Congrats!

    • 1
Feb 12, 2019
TomCrean:

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.

    • 5
Sep 5, 2019

Revisiting this and I definitely think my comp is low.

    • 1
Sep 12, 2019

What makes you say that now?

Feb 12, 2019

Title: An1 (Corporate Banking)
Rank: Mid
Bank type: Canadian 5
$: 20k (80k base)
% Cash: 100%

    • 2
Feb 13, 2019

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.

Feb 13, 2019

First year associate is base of 100k bonus of 40-60k. Hopefully the base will get pumped up a bit in the coming years like the US banks have already done

Sep 5, 2019

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).

Sep 6, 2019

Canadian office. Not familiar with pay structure for the US offices

Feb 12, 2019

Commercial Banking

Title: Associate
Rank: top
Bank type: Large MM regional, $100bn+ assets
Base+Bonus: $77.5k
Years exp: 3.75 years
Hours: 40

Should be getting a nice bump in base within the next few weeks. Hoping for a solid $5-7k addition to base.

Note that this is in a tier 3 city... I live comfortably and save plenty.

Feb 12, 2019

Should this be interpreted as a $77.5k base with 100% bonus for $155k all-in? Or $77.5k = base + bonus?

Feb 12, 2019

77.5 is all in

Feb 12, 2019

.

Feb 13, 2019

Midwest?

Feb 14, 2019

yes

Feb 15, 2019

That's depressing

    • 1
    • 3
Most Helpful
Feb 15, 2019
ScoopExpert:

That's depressing

To each their own. My definition of depressing is working 80-100 hours a week being someone's legit slave & having no life

    • 14
Feb 12, 2019

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

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

Generally relationship management for large corporate clients, with a focus on the credit aspect (key part of balance sheet banking is being part of the client's credit facility). They may or may not get involved with IB origination depending on the bank.

Feb 13, 2019

.

Feb 13, 2019

Our numbers get released in two weeks. Waiting with bated breath

Apr 8, 2019

Title: As1 - Corporate Banking (Real Estate)

Base: $70K
Bonus: $30K (all cash)
Hours: Usually 45-50 hours. Occasionally 60 hours once a month.
Bank: MM
Location: Midwest

Feb 13, 2019

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.

    • 2
Feb 14, 2019

Just out of curiosity, how do you classify cities into tiers? By cost of living im assuming, right? What cities are tier 2-3?

Funniest
Feb 14, 2019

It's highly subjective. From what I gather, tier 1 is usually NYC, SF, Chicago. Tier 2 is Charlotte, Atlanta, and cities along that size. Tier 3 is everything else. I say tier 17 because I've grown to hate my city and am counting down the days until I move.

    • 6
Feb 13, 2019

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 14, 2019

Title: As2 - Corporate Banking (Credit Management)

Base: $125K
Bonus: $40K (all cash)
Hours: Usually 40-50 hours. Occasionally 60 hours once a month.
Bank: International Bank
Location: NYC

    • 1
Feb 14, 2019

Thanks for sharing..I'm convinced my $110K base is below market.

Feb 15, 2019

Apologies, correction. It's actually for As2. I was around $110K at As1.

However, noticed that you're on the RM side, and I have seen higher bonuses.

Feb 16, 2019

Title: An1 - Corporate Banking (Credit Management)
Rank: Mid
Base: $75K
Bonus: $8K (all cash) - stub started in July.
Hours: 40
Bank: Top 10 CB
Location: Tier 1 City

Feb 16, 2019

Title: As1 - Commercial Banking (Relationship Management)
Rank: Top
Base: $90K
Bonus: $30K (all cash)
Hours: 40
Bank: Top 10 CB
Location: Tier 3 City

Array

Feb 17, 2019

Anyone have insight on CB rankings? Trying to get a rough idea of what people mean when they say "Top 10 CB" vs. "Top 3". Thanks

Feb 17, 2019
NYRugger13:

Anyone have insight on CB rankings? Trying to get a rough idea of what people mean when they say "Top 10 CB" vs. "Top 3". Thanks

Top 10 CB in terms of total assets

Feb 17, 2019

Thanks!

Feb 18, 2019

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

Feb 19, 2019

How many years of exp.?

Feb 26, 2019

Dude, you have to move to a bigger bank. As an RM, your bonus should be a lot higher. Think about it, if the client is the source of money/profit for the bank, you are the closest to the source of money. Without you, there would be no client.

How does your bank define "commercial banking"?

Feb 26, 2019

You should NOT be working close to 60-70 hours a week as an associate or above in Corporate Banking. Analysts average no more than 60 hours a week.

Also, VPs in Corp. Banking max out at the ~$350k range in the top groups.

Mar 1, 2019

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.

    • 2
Mar 4, 2019

I find it very hard to believe this... You're either inflating your hours or your group is highly inefficient.

    • 1
Feb 22, 2019

deleted

Feb 26, 2019

Anyone have any insights on JPM Corporate Client Banking and Specialized Industries (CCBSI)?

    • 1
Feb 26, 2019

bump

    • 1
Sep 1, 2019

What do you want to know?

Feb 26, 2019

Is anyone familiar with the salary progression at PNC, STRH, BB&T? For analysts

Feb 28, 2019

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)

Mar 1, 2019

As2 (i think)
Rank: mid
Base: 140k
Bonus: 50k
Hours: 60-70
Loc: NYC
Large European Bank

Jun 28, 2019

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.

Array

Aug 30, 2019

What was your comp year one?

Sep 6, 2019

That is my year 1 comp - I'm now a year 2 associate. Base salary was 125 in year 1 and 2.

Array

Jul 30, 2019

Bump

Aug 28, 2019

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
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.

Sep 6, 2019

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

    • 2
Aug 30, 2019

As1
Rank: mid
Base: 140k
Bonus: 40k
Hours: 50-60
Loc: NYC

I've seen base go up lately as of 2019 as result of IB' switching to 150K from 125K for new Associates; anyone reach 150K for CIB?

Aug 30, 2019

Rm middle market
100 to 200 billion asset bank
Tier 1 city
150 base 150 bonus

    • 1
Aug 31, 2019

Recently started FT.

A1
Rank: Canadian 5
Base: 90k
Bonus: N/A
Hours: ~60
Loc: NYC

Sep 5, 2019

Does this mean you don't get a bonus or is your bonus amount not known yet? Specifically, do you know if BMO Capital Markets would pay a similar rate?

Sep 18, 2019

BMO pays below market. I believe 70k base as A1 in Chicago - not sure about NYC.

Aug 31, 2019

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

  • Associate 1 in IB - DCM
Sep 5, 2019

That's low for NYC. Seen commercial bankers get paid similarly at that level in NYC for relationship mgmt. Must be BNP or SocGen

Sep 5, 2019

Out of curiousity, what level does a jr relationship manager equate to?

Sep 26, 2019

2nd Year Analyst
BB
City: Tier 3...or maybe lower.
Base: $68K
Bonus: 15% (~$10)
Hours: 40-50max

Oct 20, 2019

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

Array

Jan 13, 2020

Time to start another one of these.

Jan 14, 2020

Let's get the 2020 ball rolling:

Title: An2 (Corporate Banking)
Rank: Mid/Top
Bank type: Canadian 5
$: 35K
% Cash: 100%

    • 3
Jan 22, 2020

Don't have a data point to share, but as someone who's recently become interested in comm/corp banking, really hoping we can get some others to share as well.

Jan 22, 2020

Title: An2 - Corporate Banking

Base: $90K
Bonus: $35K
Hours: 50 - 70 (Could be more or less depending on the week)
Bank: BB
Location: Southwest

Jan 26, 2020

bump

  • Prospect in IB - CB
Feb 10, 2020

bump

Mar 4, 2020

A friend that doesn't use WSO was offered a financial analyst program in middle market that should eventually result in RM after 4 to 5 years. Was offered:

Title: Financial Analyst 1
Bank: Think BA, Citi, WF
Base: 58K
Signing Bonus: 5K
Yearly Bonus: 5%
Hours: 40hrs estimated
Location: Tier 3

Does this seem like an appropriate compensation? Seems about 10% low from what I researched. Any input would be appreciated.

Mar 11, 2020

Below. I know WF comp starts at $60K and 10% target for tier 3 type city in commercial banking.

Mar 11, 2020

Thank you! Will pass this onto him.

Mar 4, 2020

Any other data points?

Mar 4, 2020

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.

Mar 4, 2020
Comment
Mar 4, 2020
  • Associate 2 in Other
May 24, 2020
Jun 23, 2020