Comments (36)

 
Best Response
Dec 14, 2009 - 3:11pm

What kind of analysts are you talking about? The lower end is usually 50-55k, reserved for operations analyst, then you have 65-70 for S&T, and these are for 1st years. It really depends on what you'll be doing, and where you'll be working

 
Dec 14, 2009 - 4:36pm

Thanks for the late breaking news, I wasn't aware that banks were paying Base+Bonus.

My question was what is Yr1, Yr2, Yr3 Base+Bonus ranges someone should expect. If you don't know, then don't post.

example:
YR / Base / Bonus
Yr1: 60-70 / 30-60
Yr2: 70-80 / 50-80
Yr3: 80-90 / 80-110

 
Dec 14, 2009 - 5:16pm

cheese86:
You seem to have a good idea so why are you asking in the first place? Plus, that is not what you asked, you asked what compensation was. If you want to know the bonus then ask explicitly.

Thats why it says EXAMPLE.

Now I remember why I stopped coming on here, too many prospective monkeys offering their nuggets of wisdom.

 
Dec 14, 2009 - 5:59pm

elan:
Now I remember why I stopped coming on here, too many prospective monkeys offering their nuggets of wisdom.

I'd say he's spot on. I fail to understand why/how prospective monkeys are commenting on what Yr1, Yr2, Y3 comp numbers are.

Thats one of the reasons the information people try to get on this web site is so unreliable.... for every legitimate informed response there are a dozen prospective monkeys chiming in on what they heard from a friend about a friend, and what they're really referring to is something they saw another prospective monkey say on another thread.

As to the question itself:

Yr 1, 2, 3 Base: 70, 80, 90
Yr 1, 2, 3 Bonus: 80-120% of base

With recent economic/market, you can make that more like 60-120% of base, with it moving closer towards 120% as you move up the totem pole.

Array
 
Dec 14, 2009 - 4:47pm

At Bulge Brackets

Year 1
Base: 70 + 10 signing
Bonus: 50-70

Year 2
Base: 80
Bonus: 60-80

Year 3
Base: 90
Bonus: 70-80

Bases & Bonuses tend to go up by 10k each year. It's hard to predict bonuses, but over the summer top bucket first years were getting 50k and top bucket second years 62k at MS/JPM/BAML. Given that they were in the worst of times, this is what I'd guess bonuses will be if the economy recovers modestly.

 
Dec 14, 2009 - 4:51pm

Hybrid:
At Bulge Brackets

Year 1
Base: 70 + 10 signing
Bonus: 50-70

Year 2
Base: 80
Bonus: 60-80

Year 3
Base: 90
Bonus: 70-80

Bases & Bonuses tend to go up by 10k each year. It's hard to predict bonuses, but over the summer top bucket first years were getting 50k and top bucket second years 62k at MS/JPM/BAML. Given that they were in the worst of times, this is what I'd guess bonuses will be if the economy recovers modestly.

Some surprisingly high numbers. Good to know comp is at least somewhat back. Nice.

 
Dec 14, 2009 - 7:32pm

cheese86:
Thanks Marcus for pretty much repeating what was said twice already on this thread (including once by the OP in his "examples").

See that star beside his and elan's name? That is why people come on here. No one comes on here for you to run your mouth dude, when you get a star on your name you can start telling people what posts are stupid and which ones ain't.

 
Dec 14, 2009 - 7:48pm

adehbone:
cheese86:
Thanks Marcus for pretty much repeating what was said twice already on this thread (including once by the OP in his "examples").

See that star beside his and elan's name? That is why people come on here. No one comes on here for you to run your mouth dude, when you get a star on your name you can start telling people what posts are stupid and which ones ain't.

Fact.

BTW, adehbone, how was the job hunt? PM me.

 
Dec 14, 2009 - 9:43pm

1styearBanker:
Doesn't marcus work in PEG at GS, which is known to be mid office work? I personally like the guy but that job is far from Investment Banking.

Not sure you understand what the whole "star" system is about. You may want to run a search on that. The owner of the site has been in IB,PE and bschool I beleive he is a not dumb dude, if he thought someone deserves a "star" it was for a reason.

 
Dec 14, 2009 - 9:37pm

I'm in the compliance and reporting group at GS PEG which has historically been known to be one of the premier groups at GS, which <> Middle Office, thank you very much.

Array
 
Dec 15, 2009 - 1:09am

I wonder if the star idea came from that Dr. Seuss story where the yellow bellied sneetches that have a star on their belly shun the ones that don't...

"Ride your bike. Drink good beer." - Fat Tire Amber Ale
 
Dec 15, 2009 - 1:12am

and if the star system had any merit wouldn't elan already know how to use the search function?

"Ride your bike. Drink good beer." - Fat Tire Amber Ale
 
Dec 15, 2009 - 4:40pm

Yup, Im polling people to get an idea of what to expect. I'm not knocking prospective monkeys, I'm just annoyed by people who are somehow trying to be the sound of authority on what compensation figures are from their college dorm room. The reason the search function is so useless on this question is because of people like Cheese86 who have absolutely no idea what they're talking about but insist on chiming in.

What is the range of compensation for A1, A2 and A2 is a pretty clear and obvious question, if you don't know the answer don't post a response. The responses prospective monkeys were posting were:

  • it depends, banks pay a base salary + bonus, and it varies from bank to bank
  • what group are you referring to? investment banking vs. operations?

These are obviously responses from people who don't know, but they feel like saying something. Then you've got people like Cheese86, who doesn't have a clue and who hasn't worked in banking a day in his life, yet is telling me that my example is so accurate that I must know the answer to my own question already.

We don't have mid-years. I'm still in the dark.

 
Dec 15, 2009 - 4:52pm

Well put it this way - we all expect (hope to god) to get more than last year's comp ... haha but I know some analyst (2-3) who are expeciting 80-100 or more.

Really depends on desk. At CS for example, they're so unbelievably understaffed that they're probably going to get

80k base for 2nd year - 25k housing stipend - (so 105 base) and probably 80-100k bonus

But these kids work about 120 hours a week in ECM having a 10 person group where as others have 15-18.

BTW It's fair game ot ask your staffer or analyst program amanger for guidance on comp ... I did it when I was a 1st year and they answered (somewhat truthfully)

ALso, if you don't have mid years you can still schedule sometime to sit down with your MD and tlak about performance btw (This is a good idea especially if you don't have mid years b/c

1) You wont be surprised by year end
2) This gives you a forum to plug yourself and get a bearing on how to maximize that comp)

 
Dec 15, 2009 - 5:05pm

Elan... you seem to know me so well. What you don't realize is that I have two older brothers in IBD, and a dad in PE. So, yes I do have some idea of what I am talking about so stop being a prick. I guarantee you I have the wherewithal to answer almost any question on this site with more accuracy than you. Gold star or not.

 
Dec 15, 2009 - 5:38pm

cheese86:
Could you explain to me more specifically the portfolio manager role in the Corporate Bank?

cheese86:
I realize that the subject of compensation has been discussed many times and I assure you that I did a search to find an answer to my particular questions. That said, how big of a difference in compensation do the higher ups (VP/MD) see in a Chicago office than New York? I know this varies from firm to firm but any information would be much appreciated. Along the same lines, how much do the higher ups make at a regional bank such as a SunTrust , BB&T, or FifthThird to name a few examples? Again, I know this varies and few people on here really know but I'd love to hear your thoughts and explanations. From what I've heard, pay doesn't vary too much at the analyst level but with every passing year of experience the gap widens. Your thoughts?

cheese86:
Hi, I am extremely interested in a finance career, particularly investment banking. A year ago I was cited for possession of drug paraphernalia (for pot). I wasn't driving, I wasn't dealing, but it is still on my record. How will employers treat this during a background check? Is this a major black mark or since it doesn't involve money or any major moral flaw should it be OK? Your feedback is appreciate!

cheese86:
Hi, I was wondering at what point in the hiring process does a company conduct a background check? Is this only after an offer has been made? Is it HR who pulls up the information or could it be a partner? Thanks for the help.

Cheese, your banker brothers or gym teacher dad didn't know the answer to any of these questions? I also find the fact that someone with 2 banker siblings and a father in PE would be considering BB&T and FifthThird, you might as well apply to ScottTrade while you're at it.

Array
 
Dec 15, 2009 - 5:44pm

HAHA. Classic.

Marcus_Halberstram:
cheese86:
Could you explain to me more specifically the portfolio manager role in the Corporate Bank?

cheese86:
I realize that the subject of compensation has been discussed many times and I assure you that I did a search to find an answer to my particular questions. That said, how big of a difference in compensation do the higher ups (VP/MD) see in a Chicago office than New York? I know this varies from firm to firm but any information would be much appreciated. Along the same lines, how much do the higher ups make at a regional bank such as a SunTrust , BB&T, or FifthThird to name a few examples? Again, I know this varies and few people on here really know but I'd love to hear your thoughts and explanations. From what I've heard, pay doesn't vary too much at the analyst level but with every passing year of experience the gap widens. Your thoughts?

cheese86:
Hi, I am extremely interested in a finance career, particularly investment banking. A year ago I was cited for possession of drug paraphernalia (for pot). I wasn't driving, I wasn't dealing, but it is still on my record. How will employers treat this during a background check? Is this a major black mark or since it doesn't involve money or any major moral flaw should it be OK? Your feedback is appreciate!

cheese86:
Hi, I was wondering at what point in the hiring process does a company conduct a background check? Is this only after an offer has been made? Is it HR who pulls up the information or could it be a partner? Thanks for the help.

Cheese, your banker brothers or gym teacher dad didn't know the answer to any of these questions? I also find the fact that someone with 2 banker siblings and a father in PE would be considering BB&T and FifthThird, you might as well apply to ScottTrade while you're at it.

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