Analyst Pay Bump Updates?

Just wanted to compile and refresh the banks I know that have raised analyst base. Am I missing anything?

New Truist 87.5/92.5/97.5

CS-90/95/100

HSBC-90/95/100

Mizuho-90/95/100

HL-90/100/110

RBC-95/100/105

BAML-95/105

New JPM 100/105/110

New Harris Williams 100/105/110

Gugg-100/110/125

Piper-100/115

Roths-105/115

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (296)

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Intern in IB - Cov
Jun 24, 2021 - 10:57am

CVP blew a lot of them out of the water and roths updated their base (MM though). So maybe?

  • Analyst 1 in IB-M&A
Jun 23, 2021 - 6:39pm

I feel like for banks that only raised base to 90, its pretty easy for them to slyly keep total comp the same. cant imagine anyone would be happy at gugg for example if they got 15k lower bonus though

  • Analyst 2 in IB - Cov
Jun 23, 2021 - 8:53pm

My guess is that some banks are going to try this and then have high turnover.  some banks are going to realize that it is a low cost really at the end of the day and pay more.  

Jul 4, 2021 - 5:22am

Most banks measure on total comp rather than bonus being a percentage of base so yeah, I'd anticipate lower bonuses to make up for the lost cash with the higher base salaries. If not and I stand corrected then big congrats on that.

Jun 24, 2021 - 8:35pm

Is this for incoming FTs across all cities? Can't seem to find anything about this. Just two people on another post regarding Truist said analysts got "six-figure bonuses" you can probably find the post it was from today. Not sure what is true at all now. Thank you.

Jun 24, 2021 - 6:50pm

MS needs to take one for the team and increase base pay so that JPM/GS have to follow - JPM outright said they wouldn't and we all know GS cheap ass isn't gonna do anything if they don't absolutely have too. 

  • Intern in IB - Cov
Jun 24, 2021 - 7:28pm

I feel like if top banks can continue attracting talent without raising pay, why would they. I hope all pay is raised but the biggest name to do so thus far is either baml or guggenheim. I remember in one thread someone who worked at Evercore was told by leadership that they don't index against baml so no reason to raise pay, it's dumb but it's true. 

  • Intern in IB - Restr
Jun 26, 2021 - 5:05pm

theyre losing a ton of top talent at wharton at least... most would 100% prefer EB 

  • Intern in IB - Cov
Jun 24, 2021 - 8:39pm

Any salary bump from Blair?

  • 4
  • Intern in IB - Gen
Jun 24, 2021 - 11:16pm

Is Citi only one out of the none GS JPM MS BB that hasn't raised?

  • Analyst 1 in IB-M&A
Jun 26, 2021 - 11:50am

Ik for most, if not all, associates are getting bumped to 175/200/225

  • Summer Associate in ER
Jun 28, 2021 - 12:39am

Pretty sure BAML is still at 85k. If it's been bumped, no one has told me....

  • Intern in IB - Cov
Jun 28, 2021 - 2:55pm

Don't believe so. Someone in another baird thread said that it will occur in the next two months

  • Analyst 2 in IB - Gen
Jun 29, 2021 - 12:56am

Was there any written documentation or announcement on this? I'm currently an analyst at said bank. Didn't hear anything about this, and were told they weren't going to make a move.

  • NA in IB - Gen
Jun 30, 2021 - 11:34am

So I won't argue about evercore losing its luster, but how much do you guys actually think it's JW versus the effort to grow the bank well beyond the size of other independent advisory firms (boutique seems like a silly way to describe evercore now)? Was that growth target really from JW or was it kicked off by RS?

Just interested for discussion purposes. 

  • PM in HF - EquityHedge
Jun 30, 2021 - 9:51pm

It's JW. Rolling out tried-and-true GS playbook of leveraging brand equity / prestige to lower comp. There's probably a cult-y, Stockholm-y, reason why, since raising junior pay back to top-of-street would have a minimal impact on headcount or topline. 

  • Analyst 2 in IB - Cov
Jun 29, 2021 - 9:18am

With the JPM bump do you guys think most BB's and MM's will have to follow? / for the group who bumped up to 90 to bump up again to 100?

  • Analyst 2 in IB - Cov
Jun 29, 2021 - 4:49pm

JPM is a fine bank in any group, jsut focus on getting an offer and then you can make another post asking which offer is best. 

  • Intern in IB - Gen
Jun 29, 2021 - 4:51pm

I have a JPM offer and after speaking to contacts would most likely get M&A or HC (although very competitive and a risk). I also am waiting for GS which should be coming in July. 

Thus, would people take JPM over GS/MS?

  • Prospect in PE - LBOs
Jul 2, 2021 - 3:49pm

No. People still wouldn't take JPM over MS / GS. 10-20k during your analyst years is nothing. I can guarantee that MS / GS is going to follow the street in base pay. 

  • Analyst 1 in IB-M&A
Jun 29, 2021 - 2:31pm

Any views on whether PJT / Moelis / Evercore will now raise? 

Surely they will feel pressured to match new guggenheim / Rothschild base? 

  • Analyst 1 in IB - Gen
Jun 29, 2021 - 4:47pm

Baird is apparently having a call to discuss comp (source from another thread), but I imagine with JPM making a move, BBs and MMs who index against "street" pay will eventually follow suit. Especially since Blair prides themselves in paying "above street", I can't imagine them not eventually caving and matching base bumps. Not sure the implications for total comp though.

  • VP in IB-M&A
Jun 29, 2021 - 5:42pm

Any idea if firms are changing their Associate 1 promotion bonuses or are they staying at $40k?

  • Analyst 2 in IB - PubFin
Jun 29, 2021 - 5:54pm

I'm an AN2 at RBC, but haven't heard anything from mgmt or about junior pay increases, despite being on the list. Anyone in the same boat?

  • Analyst 1 in IB - Gen
Jun 29, 2021 - 9:49pm

I believe I saw some post earlier about Nomura raising base salary but cannot find it. Can anyone confirm this?

Incoming analyst here.

  • Analyst 1 in IB-M&A
Jun 29, 2021 - 10:17pm

SMBC 1st year analyst is $85k base + $10k signing bonus + yearly discretionary bonus (unknown amount).

Jun 30, 2021 - 11:08am

Voluptas quas numquam cupiditate rerum rerum. Provident voluptatem odit rem est. Voluptatem quia ratione ut sed tempora. Sunt aut fuga est ut earum porro. Illum harum alias et repudiandae.

Dolorem dolor quia consectetur voluptas et sit. Ratione voluptatum molestiae doloremque quia corrupti eum.

Temporibus aut ipsum eveniet fugit. Accusamus cumque culpa aut occaecati. Amet amet totam qui sequi provident ullam veritatis.

Aut et amet voluptatem ut vel deserunt. Id illo neque ut quis sint. Non deleniti sint unde in provident sit.

  • Prospect in IB - Gen
Jun 30, 2021 - 11:29am

Repudiandae et quia autem qui esse voluptate nemo. Soluta culpa sed sit repellat amet. Tenetur non porro aut ullam laboriosam perferendis. Maiores sit accusantium voluptas eaque veniam aut aut. Voluptatum ipsa ex atque placeat suscipit rerum. Praesentium quae dolor est voluptatem quae qui voluptatem doloribus.

Impedit est quaerat vitae ut incidunt blanditiis voluptatem quo. Enim suscipit ea occaecati in necessitatibus aut dicta. Recusandae quia minima optio itaque nisi unde natus. Eius enim repudiandae ea et optio. Et saepe repellat aut sed. Nam aut ex qui quae quos.

Jun 30, 2021 - 11:36am

Repellat est quasi illo dolores non doloribus et. Quia consequatur dignissimos et inventore. Eius quod sunt optio harum.

Dolores placeat omnis quis qui aspernatur blanditiis aut. Eligendi nobis explicabo repellendus quam. Dignissimos sint est facilis deserunt voluptatem velit. Aliquid maxime voluptatum earum quos vero aut tempore enim.

Qui quidem eum necessitatibus rem ratione ea. Porro deserunt rerum consequatur vel inventore molestias consequatur maxime. Excepturi reiciendis error mollitia voluptatum quis sapiente.

  • Prospect in IB - Cov
Jun 30, 2021 - 12:24pm

In ab ex cumque quo. Voluptatem error pariatur dicta facilis voluptatem. Dolore sed dolores incidunt consequatur. Est eum corrupti consequatur quod. Repudiandae sunt sed dolorum voluptate. Voluptates praesentium debitis sit asperiores sed nam. Aut rem consectetur dolores non.

Quibusdam impedit laboriosam aut aperiam. Omnis corrupti non corporis magni animi tempore. Laboriosam corrupti mollitia soluta possimus consequatur vel. Voluptatem fuga eaque repellat sed ad perspiciatis. Doloremque consequatur est exercitationem maxime ipsam. Neque perspiciatis ut quod voluptatem.

  • Intern in AM - Other
Jun 30, 2021 - 1:00pm

Asperiores est ut rerum labore consectetur iusto. Incidunt aut quae tempora est porro quo et molestiae. Id fugit beatae id odio est cum. Esse quam eligendi esse saepe ex magnam. Qui non non eaque quas dolor recusandae accusamus.

Nesciunt eos fugit quod nesciunt molestiae tenetur et cum. Aut maxime omnis et voluptatem placeat est ut rerum. Eligendi veritatis id assumenda possimus iure tempora iure.

Exercitationem ea ut ut quo ipsum aliquam rem. At adipisci quo molestiae corporis optio aut est. Voluptate facere velit ab id totam molestiae dolores.

Ea quia quia suscipit incidunt eos. Est quia voluptatem maiores sunt aliquid velit. Cumque ut sed consequatur officia et. Qui nesciunt et fuga vel sint.

  • Analyst 1 in IB - Cov
Jun 30, 2021 - 7:23pm

Rem error est at doloremque architecto qui magnam. Eaque dolorum voluptate aut sapiente vero minima. In sint dolor et praesentium. Magnam consectetur ipsa laudantium in veniam voluptatem ex.

Aut quam quae in et qui. Non ea non velit voluptatibus ut magni quasi. In odio voluptatem recusandae iusto impedit illo et nihil.

Pariatur voluptatibus natus dolore quia voluptas. Molestiae iusto enim odio quia ipsa quis. Sit facere maxime mollitia voluptatem architecto quos quasi. Non ratione molestiae dolor veniam id aliquam. Numquam aliquid qui quia dolorem animi architecto.

Jul 1, 2021 - 11:00am

Tenetur voluptas in recusandae at doloribus. Minima repellat sit molestiae id. Natus unde quia architecto repellendus.

Dolores aut voluptas consequatur nulla. Sed molestiae quos tempore ut adipisci. Consequatur enim nemo hic vero. Doloribus rem qui non eos placeat et.

Quaerat architecto qui architecto veniam necessitatibus magni. Et doloremque necessitatibus ut ut numquam. Ex voluptates sed corrupti tempora ducimus et. Ratione et sit provident blanditiis repellat quasi et.

Illum consequatur et illo. Ad tempora nulla rerum incidunt voluptate enim est. Dignissimos occaecati et ad eaque.

  • Intern in IB-M&A
Jul 2, 2021 - 3:12am

Quam ad consectetur soluta amet animi dolore error. Veritatis et pariatur est autem illo. Consectetur nemo placeat neque reiciendis officia aspernatur.

Sit fugiat iusto praesentium molestiae ipsum quis. Sit omnis reprehenderit aperiam tempore non repellat quidem.

Voluptatem sapiente nihil ea corporis repellat quibusdam. Asperiores adipisci et ut consequatur non.

Sed id corrupti tenetur esse quia hic exercitationem. Tenetur et reiciendis repudiandae. Mollitia fuga temporibus voluptatem eum nisi aspernatur qui. Repellendus omnis cum adipisci facilis molestias magni.

Start Discussion

Total Avg Compensation

September 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (39) $363
  • Associates (220) $232
  • 2nd Year Analyst (135) $154
  • 3rd+ Year Analyst (30) $147
  • Intern/Summer Associate (103) $143
  • 1st Year Analyst (487) $135
  • Intern/Summer Analyst (377) $82