Analyst pay increase: 95k base yr1

Hearing a lot of rumors that for incoming Analysts (class of 19) that base has been increased to 95k. Can others confirm this? What does this mean for current analysts, and how will it impact A2 and A3 base?

Would seem like A2 would jump from 90 -> 105 and A3 from 95 -> 112.5-115

Update (from comments):
Can 100% confirm EVR, Qatalyst, Rothschild, and PWP.

Mod Note (Andy): see below in the comments for the most recent updates (Jan 2019)

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Comments (97)

Sep 18, 2018

What banks are doing this? My EB is not.

Sep 19, 2018

I know first-hand Rothschild has, and know second-hand of at least 5 other boutiques.

So far, haven't heard anything on the BB side.

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Sep 19, 2018

Thanks for the post. That's interesting... As far as I'm aware Evercore, PWP, are one of the few that pay 95k base. It'll be interesting to see how the industry follows for sure.

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Sep 19, 2018

Rothschild has as well. Qatalyst was already at 95k. three others I am less certain on so won't post.

Jan 4, 2019

.

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Sep 18, 2018

not true

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Sep 19, 2018

Can anyone else confirm? I know EVR pays 95k Base but thats about it

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Sep 19, 2018

Can 100% confirm EVR, Qatalyst, Rothschild, and PWP.

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Sep 19, 2018

Knew about EVR, Qatalyst and CVP but had no idea Roth and PWP also followed suit.. Guess that makes your 5 haha

Does PJT pay 95k as well?

Looks like MoCo and Laz are lagging

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Sep 19, 2018

PJT does.

I heard from one friend that Laz in NYC is at 95k.

Mo is lagging from what I know.

All BBs are lagging.. MS is already bumping associates, can't imagine the BBs don't start bumping up analysts.

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Sep 19, 2018

Interesting I always thought MoCo is pretty solid when it comes to pay, and Laz is pretty stingy

I'm hoping the 2020 class (i.e my class) hits 95k base across all banks haha

    • 1
Sep 20, 2018

what are the associate bases?

Jan 16, 2019

Can only confirm that incoming summer associate pro-rated base is 150

Sep 20, 2018

Laz NY defs not at 95k

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Sep 21, 2018

PJT does not.

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Sep 19, 2018

Heard Blackstone does 90 base

Sep 19, 2018

Can confirm. They offer 90k even for non-FO roles, such as their Tech team.

Sep 20, 2018

Any idea on bonuses for analysts?

Sep 19, 2018

On a different note: what is the standard signing bonus for FT these days? What do most BBs offer? $10k? $15k?

Sep 19, 2018

My BB paid out $10k

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Jan 4, 2019

My BB also offers 10k signing bonus

"If you ain't first, you're last!" - GOAT

Sep 19, 2018

When does goldman plan to follow suit lol

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Sep 19, 2018

...

Most Helpful
Sep 20, 2018

Probably for the Houston office. Doubtful elsewhere.

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Sep 20, 2018

Yup ^ haha

Sep 20, 2018

If I haven't officially signed my return offer yet, should I try and negotiate for the rumored salary increase? Also at $85k base as of now.

If someone knows a journalist at the WSJ, make them take this shit public!

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Sep 20, 2018

I wouldn't try to negotiate. if you're starting at 85, everybody else probably is as well at your firm.

    • 1
Sep 20, 2018

Isn't there months for others to follow suit? Most hires are already in place.

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Sep 21, 2018

Yet pay in London still stuck in 50-53k range

    • 4
Nov 1, 2018

wtf

Jan 8, 2019

My bulge bracket was 47k base for 1st year IBD analyst London

Jan 9, 2019

GS?

Jan 8, 2019

GBP not USD?

Jan 9, 2019

Curious to know which BBs are above 50k. I know some firms are more in the 47-50k.

Jan 9, 2019

Efinancialcareers had an article in 2018, which had base salary for all BBs at 50k.

Just google "efinancialcareers 2018 pay analysts".

Jan 9, 2019

Yeah but someone above posted BBs paying 53k.

Jan 9, 2019

Can confirm my offer (2017) was PS47k at one of the US bulge brackets, also got offers from a few non bulge bracket / mid market banks all were in the range of PS45-PS49k. Although I've heard DB offers PS55k base for IBD in London

Quite a bit behind the US which is now apparently offering $95k base

Jan 10, 2019

So DB offers 55k as base but low bonuses lol. My SA offer for a US BB is 50k prorated.

Sep 21, 2018

Investment banking is No.1

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Sep 21, 2018

The people who throw shits on me can do a quick search lol

Sep 21, 2018

Many people here love to live in their little delusions. FB signing bonus alone is ~95k

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Sep 21, 2018

That's true. Many of my friends are getting similar packages. And I didn't count signing bonus into that 200k.

Oct 11, 2018
Wall St. Thinker:

The people who throw shits on me can do a quick search lol

Why don't you provide your source? $200k consisting of what? Sign on bonus? RSUs that vest over many years? Or $200k simply the base straight out of undergrad (in which case I'd be very skeptical about).

Also keep in mind year-end bonus is much smaller for these types of jobs.

Oct 11, 2018

200 is an exaggeration. market for engineers at tier 1 tech cos (FB, GOOG, Uber, Airbnb, Snap etc) is like 150-180 all-in with base of ~$105-120, bonus of 10-15% and yearly stock of ~$30-60k

https://www.whereto.tech/companies

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Oct 11, 2018

Some of my friends got this package: 120k base, 200k RSU vesting over 4 years, 10% year end bonus, 100k sign on. The base and bonus will increase every year, not sure how much.

Nov 1, 2018

$100k sign on for what role? engineer? The fuck

Nov 1, 2018

software engineering. But idk if this kind of pay would sustain.

Sep 21, 2018

No. Insane is picking a job based on ~$10-15k/yr difference in post-tax dollars, instead of picking a job based on what you're interested in, good at, and what you think you want to do long term. Most people getting paid $200k at FAANGs/etc out of undergrad are software engineers, that's a completely different job and career track than finance. Vast majority of the people that go into one route, would not have the academic background, personality, or interest to go into the other. Wall Street is not losing significant talent to tech out of undergrad (i.e., not talking about exiting into corp dev) just because they don't bump salaries $10k.

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Sep 21, 2018

Cost of living in SF/Bay area is vastly different compared to NYC. Articles streamlined over the past few months stated that 130k salary in SF is close to poverty lines.

Also, getting those jobs straight out of undergrad is tough too. It is not easy.

No pain no game.

    • 1
Sep 24, 2018
H13x:

Cost of living in SF/Bay area is vastly different compared to NYC.

Just...no. I used Brooklyn here: https://www.nerdwallet.com/cost-of-living-calculat... because it doesn't break it down for different parts of SF and BK is closer to average NYC than Manhattan. You'll notice Manhattan is substantially higher.

Nov 1, 2018

$130k for a family, not single

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Sep 23, 2018

are you dumb? you realise the people doing software engineering at bigtechcos are completely different to people gunning for banking right?

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Oct 2, 2018

.

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Oct 10, 2018

i think his point is that finance majors dont have the option of going into CS, they don't have the skillset. not the other way around.

Oct 11, 2018
Djcnrledi:

I'm a Math major at an EB, not sure what you're getting at..

You know why? Because being an amazing math major with opportunities to go either banking or engineering apparently still isn't smart enough to tell that such background isn't at all representative of the demographic here on this forum. So your point of "if banking salary continues to trail that of FAANG's", then I'd just switch my career isn't meaningful to most people here.

Seriously though, even if you have the background to do both, you think switching to engineering once you're into finance for 5+ years is that easy?

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Oct 11, 2018

Exactly

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Oct 11, 2018

.

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Oct 11, 2018
Djcnrledi:

Forgot to mention, I'm from a top 3 business school and started off with a finance major before taking on a second math major on second year for fun, because the stupidity amongst the finance kids are becoming overwhelming. Also forgot that some people here belong to that crowd too and don't actually have any option to choose between tech or banking
My bad.

Wow, we got a badass over here.

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Oct 10, 2018

I'm also a engineering major and not sure what you're getting at..

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Oct 11, 2018
Djcnrledi:

.

Lol, the fuckwit decided to delete his comment, crawl back into his cave and throw MS.

Oct 11, 2018

What I'm getting at is the set of people who are very committed into getting into software engineering and the set of people who are committed to getting into finance (not quant) are not the same. I'm a Maths&CS major, the people I know gunning for finance are very different personality wise to people who tend to gun for technical or quant jobs regardless of their major.

Jan 9, 2019

Cousin is a product manager with his own team at a FAANG, with a top 10 MBA and engineering school for undergad and makes
$250k cash (approximately) and $300-350k with stock in their early 30s so no, unless you are a rare talent you will not make that much in cash out of school. If you include RSUs then maybe 200k over multiple years

"If you ain't first, you're last!" - GOAT

Funniest
Sep 21, 2018

suicide

What concert costs 45 cents? 50 Cent feat. Nickelback.

    • 4
Sep 25, 2018

Out of curiosity does anyone know the signing bonuses for various EBs?

Heard CVP/EVR/PJT are top while MoCo/Laz are lagging at only 15 ish?

    • 1
Oct 10, 2018

CVP is usually like $50k with a 3yr contract.

EVR is around $20-25k w/ 2yr

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Oct 10, 2018

Do you know what Moco/Laz/HL etc pay?

Jan 4, 2019

HL pays 15k if the return offer is accepted within two weeks. 7.5k if accepted in the following two weeks, and no bonus if accepted after that timeline and also no guarantee your offer remains open

"If you ain't first, you're last!" - GOAT

Jan 9, 2019

To be fair that's a pretty good deal given that some EBs are giving you 2 days to sign you offer...

Jan 9, 2019

No doubt, I agree. Some BBs even give just a week or two. I thought it was a pretty fair deal, had some people in my class shop around because of the time they were given

"If you ain't first, you're last!" - GOAT

Jan 9, 2019

deleted.

Oct 11, 2018

Question about stub associate comp. Previously, EBs were 150 base and BB were 125. Most of the BBs stepped up to 150 base for the 2019 incoming class. Does anyone know if any of the EBs have tried to stay ahead and bumped incoming 2019 base salaries?

Oct 16, 2018

What is the range of bonus for BB associate? 70-100% of base?

Jan 9, 2019

Deleted.

Nov 1, 2018

Any word on whether BBs are moving yet? Know that pay is going to $150k for associates now so interested to see what analysts will get.

Nov 1, 2018

Frankly won't expect pay to increase for 2019 A1, maybe by 2020 A1 unless..of course we hit a recession then even having a job will be fine.

Just my conjecture.

Jan 4, 2019

I'm so confused on the Associate salary range at BBs. Also, are As0 those who start in summer and get a stub? As1 beginning in winter and get a full-year bonus?

Jan 4, 2019

A0 is between the first couple of months on the desk post-MBA until the next year, so like September to December of their first year once they graduate.

Jan 7, 2019

Makes sense. There's a lot of direct A to A promotes in markets/S&T at the BBs.

Jan 7, 2019

are analyst programs for S&T at BBs 2 years as well?

Jan 15, 2019

2.5 years if you start and summer and are promoted in Jan/Feb

Jan 7, 2019

Got an offer for a BB @ 85k, so not sure about the 95k bump, but maybe at EB's as OP and others have mentioned?

Jan 7, 2019

Most top middle market firms are raising salary across the board for Analysts, Associates and VPs, but they state that "total comp will remain the same." So, it's really more of a switch to more salary than bonus - I'll take the certainty.

Salaries will be constant within levels (i.e. base will not change with seniority but only with promotion to next level), and performance will be differentiated in total comp from bonuses alone. From what I've seen, new bases are as follows:
- Analyst: $95k
- Associate: $175k
- VP: $200k
- D / MD: less relevant given bonus is multiples of base

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Jan 7, 2019

What MM firms are raising analysts base to 95k? Just curious as BBs haven't even raised them

Jan 7, 2019

The likes of Piper/Jefferies/Baird/Blair are in process of changing or currently contemplating similar structures to the above

    • 1
Jan 8, 2019

Interesting stats. I guess BB's are behind the curve from what you have outlined and what I saw from other Analysts in my class.

Seems like EB and MM are trying to retain talent with higher base salary's?

Jan 8, 2019

Competitiveness and cost of living in finance hub cities, I suppose.

Jan 9, 2019

Wasn't A0 stub period and A1 raised to $150k for both not $175k.

Previously it was 125k stub to 150 A1

    • 1
Jan 9, 2019

Not at my bank / other close competitors. Essentially, there is no differentiation between A0-A3 anymore - bases are constant within each level.

Jan 9, 2019

Interesting.

Jan 9, 2019
THE PsYcHoLoGy:

Not at my bank / other close competitors. Essentially, there is no differentiation between A0-A3 anymore - bases are constant within each level.

Where do you work? I've never heard of this anywhere.

Jan 9, 2019

We were pretty surprised by the structure, as well.

Jan 10, 2019

Can confirm Evercore NY is giving 95 base for summer analysts. Was shocked myself.

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Jan 10, 2019
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Jan 17, 2019