Mid-tier European Bank decreases cash bonuses by 20-30% for analysts since last year. Some second year analysts got paid the equivalent of the stub first year analysts received last year. For reference, one group had a top-bucket bonus of 60K, with mid being 45K and low being ~30K. In other groups, mid was closer to 55K, with top being closer to 70K. Wanted community to be aware of this in case there are some who are interested in joining a large European bank during these troubling times.
Of course, these are all first world problems, and people will accuse me of receiving a low bonus, but actually was towards high range of this spectrum. Happy recruiting everyone, its open season!
Also feel free to comment on what other people are getting across wall street!
At my Europeans bank (small US office) bonuses were roughly flat; mine went up but not as much as you’ll be expected for the progression, some senior people who had good years actually went down. Not a great retention tool given our revenue went up 35%...
Yup at my firm, there was essentially an entire class of analysts talking to headhunters at the same time; werent enough conference rooms to go around, it was hilarious. DB analysts looking for new work everyone!
Hasn’t dB as a whole been performing poorly for a while.
Some of it was US regulators. They loved slapping huge fines on them and comparatively in my opinion smaller fines on US banks. Nice competitive advantage since the US market is so dominant in finance and they have to play here.
American mid-tier investment bank
I am a vp at one of the "good" firms listed above and I can provide some color from looking at different analysts go to the buy-side:
Enron,Barclays, MS Evercore Citi, GS, JPM,CS Rest Accurate on Barclays and CS- best option for exits, good deal flow etc
Pretty accurate about UBS, DB, TPH, BAML. You could go to few MM PE funds, impossible to go to some MF in NYC so don't even entertain the thought...
On BMO, Wells, and RBC absolutely correct.. the best exit opps from these firms in the last 3 cycles- BMO: Shell corp dev(lateral hire from Raymond), Small cap PE, MM HF, MBA @ Rice (early decision) Wells Fargo: small cap energy PE(family business), Exxon corp fin (lateraled from stifel), MBA at UT RBC: UberEats (even lateraled to intrepid partners first), Training the street instructor, Oracle Sales, Shell marketing, MM credit, GS BO
TPH is pretty decent in the energy space.
I would highly recommend going to Enron......
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