Offer from MM IB Group
Hello All,
For some background, I’m currently working in restructuring consulting and i am expecting an offer from an MM IB Group. My current compensation structure is $140k base and approximately $30k bonus. I’m lining up for promotion so expecting atleast another $10k in salary.
An external recruiter I’ve been working with on this investment banking associate process has communicated to me that I will be receiving an offer. When we talked comp she mentioned average for IB Associate is $125k (seemed low). When I consider the offer I’m hoping at-least $150k which I read is street for A1. Given I know my average hours will probably go from 50-70 to 80-90 would you make the switch?
Other considerations are:
1. Will need to take FINRA licensing exams
2. IB stole covering an industry I’ve always had an interest in
3. Trying to build up more of a savings for the future
4. Exit opportunities
5. Work life balance
6 Career growth
Any guidance would be helpful.
Just an intern here but according to sources I’ve read, associates get a bonus of usually at least 100% of their base salary so I think you will definitely make more in IB. Your first year you might just get a stub bonus though. There are a lot of threads on here for salary info and also check out Mergers and Inquisitions’ articles. Congrats on the offer.
Thank you!
Just realize how demoralizing they marginal hours are. I don’t think it’s worth the extra compensation. Also realize that you cannot take days off in banking - you’ll try but you’ll never succeed. Even holidays are fair game to get blown up. It’s soul-crushing.
Anyways yeah you should expect $150k base and a 75-100% bonus target that every bank will slash to zero if they can justify it.
I know. I've worked the hours before in my current and past roles. I do get to take my holidays/pto uninterrupted..
Sounds like HL. After the things that were posted on this forum following their recent layoffs, I wouldn't do it.
Not HL, but one of RJ / Cowen / Trust (STRH) / Stifel / Nomura / BNP.
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