Base Compensation Increase | IBD | London
All,
Grateful if you can share the most recent base compensations across different positions / firm in London:
JPM - A1 - £75k
MS - A1 - £70k
PWP - A1 - £75k
GS - A1 - £70k
PJT - A1 - £70k
JEF - A1 - £70k
EVR - A1 - £63k
Rothschild - A1 - £62k
Citi - A1 - £70k
WB - A1 - £70k
HL - A1 - £65k
UBS - A1 - £60k
Barclays - A1 - £60k
Nomura - A1 - £60k
CVP - A1 - £65k
HSBC - A1 - £60k
LAZ - A1 - £60k
CS - A1 - £60k
BNP - A1 - £60k
BoA - A1 - £57.5k (to be raised in Feb-22)
Any insights into other banks? RBC / HL / LAZ / BAML / DB / NOMURA / BARCLAYS / CS / GHL / LIONTREE / QATALYST?
What about A2 / A3 / Associate?
EDIT: Updated as per comments below
Following
PJT is incorrect, should be GBP70k
What’s the bonus looking like, that is, if you want to share?
Barclays:
A1 = 60k
A2 = 65k
A3 = 70k
Is A1 include those coming straight out of uni and into the grad programme?
So these are incorrect??
https://www.efinancialcareers.com/news/2021/10/salaries-investment-bank…
Asking, as I am curious myself.
They're slightly outdated. There have been raises since then, especially within the last week.
PWP also incorrect, £70k for AN1s
What bank is PWP?
perella weinberg
GS is £65k last I heard. Has JPM 70k been confirmed yet?
Barclays is still 60k.
GS confirmed £70k, across all of FO (including AM, ER, PWM...)
Engineering £65k now too... best w/l balance spot
Source?
Could please how the base and bonuses rise as you progress to AN2 and AS0
Following
PWP incoming A1s were offered £75k in London
I’ve either been shafted or this isn’t true haha
Lol same
This isn’t true lol. It’s 70
JPM increased confirmed. Increases of 10k from A1 to Associate
Do you know if they would change contracts for incoming SA? Also I have heard interns were on 57k before instead of 60k for AN1, any ideas why?
Many thanks
My SA22 salary was changed a month and half ago. Got increased from 4.9k to 5.3k/month. Let’s hope for another bump
interns are on lower salary compared to analysts, my SA21 was 47k pre pay rise
William Blair:
A1: 70k
A2: 80k
A3: 90k
https://www.efinancialcareers.co.uk/news/2021/07/new-salaries-investmen…
Bump for data points about RBC / HL / LAZ / BAML / DB / NOMURA / BARCLAYS / CS / GHL / LIONTREE / QATALYST
Citi pays 70k for A1
Updates on A2 / A3?
Do you know when this was announced and when it is effective?
Do you know when this was announced and when will it be effective?
Do you know when this was announced and when will it be effective?
Any idea when this was announced and when will it be effective?
Houlihan Lokey 65k for A1
UBS £60k for A1
Does anyone see the banks increasing the pay again?
HSBC £60K A1
CS 60k for A1 with bonus being 30, 40 or 50k depending on rating
CAN'T BELIEVE EVR IS PAYING BELOW MARKET IS THIS A JOKE
That discrepancy between NYC and LDN tho
RIP
What about BNPP?
BNPP pays 60k, but no bonus in first year.
No bonus in banking at 60k? Yikes
Bofa A1 57.5k - getting increased in February but we havent been told by how much yet
Thanks for the info, how have bonuses been this year?
Very generous for top / top-mid performers
Bofa - base compensation that I got last summer was for £60k (after summer internship)
Funny how Rothschild is way stronger in London but pays way more in New York
Exactly the reason why they pay less in EU.
Any numbers for Roth LDN yet?
For now is £62/67/72 and Aso 1 is £105
B
Some figure for CWP?
65k
Why is EVR so low?? Is that accurate
Can confirm EVR is that low
damn guess it makes sense given their weaker europe presence, any idea what bonuses are like in ldn?
cries in UBS
the ubs discount
Nomura A1 £60k and A2 £65k
Was the increase recent?
Any info on LAZ?
Can anyone confirm if JPM london increased base for analyst 1? I'm about to join in July but haven't heard anything about pay rise, contract signed at 60k :(
57k for SA, any ideas why?
Joining this summer as Analyst 1 as well. PM me
Any info on bonus expectations? Am I too naive to assume 80-100% base?
Yes
How much then approx. for a boutique?
LAZ A1 is £60k, but bonus was massive last year 120 - 140%
B
Bump for Qatalyst / Liontree / DB / Robey Warshaw / Blackstone / SocGen
Anyone know the new associate base numbers for MS/JPM/GS?
CS interns are at £60k but not sure if that's indicative of A1
Is no one on the street, sell side an buy side, paying USD equivalent? $110 for most BB IB should be 80k GBP.
Only Centerview is on the sell-side, think PWP is close to their US numbers as well. Large cap buyside funds indeed pay in USD and get paid the same as folks in US.
Is this true for funds other than BX for analysts out of college?
What’s the base for just under bulge Bracket Banks banks?
Can understand why MM shops in the UK have been clapped on resourcing - they're really lagging behind these numbers now.
Yeah, MM is still at 50 with lower bonuses. Do you think they will raise?
They have no choice, especially as the wlb at these places is trending towards BBs anyway...
Can confirm my SA is at 50k :/
Bump
Bump
DB is £59k for AN1, £64k for AN2, and £90k for ASO 0.
Phew, good thing they don't pay their A1s £60k. That extra £1k p.a. must be making all the difference to their bottom line!
When did Citi announce the increase for the UK? I think the £70k for the UK is an assumption / if they follow the US (which in their case was officially confirmed). We have not had any announcements in the London office
Was wondering the same. Last time I heard it was still 60
Heard internally that it is coming up really soon, following the announcement in the US
What's happening to Associate compensation?
Also curious
Quite a few places pay AS1s £100k+ now - HSBC and Jefferies are two I know definitely do from recent conversations.
Yes for sure they are £105k the majority of the BBs. I want to know if/how they will increase given An movements.
Macquarie
A1 - 65k
A2 - 75k
A3 - 90k
Is this confirmed?
Is this confirmed?
Still valid? Is this the same for CGM?
JPM revised latest base
A1 75K
A2 80K
A3 85K
AS0 105K
AS1 105K
AS2 120K
AS3 135K
Are these AN1-3 numbers confirmed? If so, PS75k would be highest on street for AN1!
I also somehow doubt that JPM bumps NYC pay by 10% but London pay by 25%...
Can someone confirm?
Can confirm A2 base is now 80k
Jesus. What % were bonuses this year? 80-100%?
This is what I will be benchmarking against in my own salary negotiations. Good content
AS2 is £125 fyi
Confirmed
A1 is 70k. This has been confirmed by staffers. I think there is a 5k signing bonus on top of that but base salary is indeed 70K.
Thank you for confirming. Do you know when the £70k comes into effect
Awesome! Thanks for letting us know. Going to need this heading into my MF analyst stint as well.
Does anyone know if these figures reflect for Credit Risk as well?
Heard JPM Credit Risk matches IBD in LDN
GS CR AN1 47k
More ppl confirm this JPM increase?
Can anyone confirm on the current base salaries for S&T in London or point me in the direction for where to find this? All info I can find is IBD.
Its very dependent on bank rn, just like IBD bases. You're gonna have to scavenge for the numbers a bit. Rn tho every BB American bank matches IBD base to Markets base.
LOL those so called EBs are a joke..........
LAZ / EVR paying £60k / £63k vs RBC / JEF / Citi / GS / MS / etc paying £70k
Very elitist indeed. Ridiculous lol
True... imagine telling an American that CVP and EVR pay less than Macquarie in London lol
Clown moves - lets see if they bump in march.
Need a source on RBC paying 70k
RBC
A1: £60k
A2: £65k
A3: £70k
PWP A1 is 70k
Will BofA increase base to 70k for A1?
AN 1 65k and AN2 80k
Does AN2 match street?
Guys most of them haven’t even announced it yet...
Can someone make a Base Salary / Quality of life index :)
Here is my method to convert like for like: 1. spot FX rate 2. CoL index via numbeo 3. Factor in tax rate via neuvoo tax calculator (don't remember exact name but Googling should do)
Bump
Does anyone have info on stub bonuses for in London?
Usually is mid-bucket full year bonus pro rated (for GS at least).
PJT London
- A1 - £70k
- A2 - £80k
- A3 - £95k
- Ass1 - £110k
Thank you. Does PJT still have 3y Analyst program or is A3 position for those who don't make it to Associate after 2y?
The analyst programme is 2.5 years. Analyst 3 is a stub year.
80 for an1 now
6 months A3. Promotions in Dec. So 2.5 years Analyst program
Barclays still £60k for Analyst 1.....
UBS offers GBP 20K bonus once you become ASO1 plus 2 extra weeks of vacation
Is JPM £70k or £75k? Seen sources saying £70k (https://www.efinancialcareers.com/news/2022/01/jpmorgan-analyst-salarie…)
Efinancialcareers literally always gets salaries wrong, wouldn't consider them that reliable. Someone above saying JPM 75k comes from 70k + 5k signing.
I remember when An1 used to be £45k not too long ago (2015 class I believe). £70k in London as base salary out of school is really not that bad at all, much better than $110k in NYC imo, but I haven't lived in London in over 5 years so my perception may be off
£45k in 2015 was about $67,500. Adjusted for inflation, it's about $80,000 - about £60,000 today (which is what Laz, BarCap, CS, UBS are paying - and above that of DB, BAML).
The calculation is wrong. Regardless, mine was just a thought as an EU citizen now living in the US and who used to live in London, checking comp progression in London what that can afford there vs here in the US
Curious to hear more about your take comparing LDN to NYC. Usually everybody on this forum shits on LDN - and if you think it is better here, what made you move to the US? Are you considering moving back?
When did GS raise to 70k? Is it confirmed ?
Last Summer they increased to 65k and I haven't heard of another hike since
Deleted
70k confirmed
source: it's what I got
What was bonus ?
Bump
Any info on Moelis?
Is BofA still on 60k?
I think they raised to 65k AN1
Among US BBs, still the bank that pays the least.
Distinctio et quisquam magni commodi. Vero et omnis nisi aspernatur quam ipsa. Non dolorem accusantium cupiditate est at voluptates. Rem eaque dolorem in maiores nemo eum. Et magnam est ullam quasi perferendis perspiciatis. Doloremque eos ut doloremque officiis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Animi dolor aut eum tempore ipsa soluta. Pariatur magni enim neque quis corrupti in sint aliquid. Reiciendis et pariatur qui similique non. Cum ut dolorum soluta consequatur soluta quae. In possimus beatae eligendi est. Sunt eos voluptatem voluptas qui.
Consequatur consequatur sunt accusamus est sunt. Qui nobis officiis dolorum. Soluta vel officia aut. Maxime maxime est exercitationem dolor rerum illo. Tenetur magnam porro magni corrupti non. Quis natus saepe accusantium sit rem porro id. Tempore magni voluptatem delectus alias.
Laborum temporibus dolore odio saepe qui sed. Mollitia non accusantium sequi ipsum ea.
Maiores corrupti nam dolor consequatur. Quos fugit sint porro et unde.
Praesentium quidem quia nesciunt quis dolorem omnis numquam. Voluptas assumenda a sit voluptatibus possimus quae. Rerum nisi asperiores maiores fugit. Sed et enim iste sint. Et odit quasi minima est reiciendis accusantium facere. Ut et temporibus amet iure.
Repudiandae repellendus vel laboriosam in autem est. Dolore cum ab hic non nihil consequuntur. Vero consequatur voluptatum quia nostrum dolor deserunt. Atque esse blanditiis maiores id asperiores.
Sequi inventore aspernatur vel nulla. Maiores quas nostrum sapiente modi quo. Sed sed vel commodi debitis est autem expedita eos.
Aut soluta est eveniet cum officiis eligendi est. Doloremque sunt fugit et et pariatur. Aliquid aliquid labore repellendus voluptatem assumenda. Aut ut et doloribus possimus adipisci. Nisi iusto quam et temporibus ut qui minima. Libero dolorem error rerum sequi dolores. Numquam non ad ea sit animi aut eius.
Alias ducimus debitis est reiciendis sed harum ut. Deserunt iusto assumenda cumque quia vitae dicta nisi. Ratione aut et nesciunt adipisci sed. Minus molestiae debitis aspernatur provident ea.
Reprehenderit error possimus nam aliquid. In omnis dolorem autem sapiente quia. Quia minus inventore voluptatem ad nemo id pariatur. Qui nihil in maiores dolore quo voluptatem vitae. Voluptas recusandae quos laborum sit incidunt dolor ab.
Mollitia voluptatum nobis enim asperiores sit labore quibusdam reiciendis. Qui temporibus maxime numquam. Magnam unde et sint voluptate qui aut consequatur. Natus et sed animi ut. Ea voluptatem quia quam est aut dolores. Explicabo itaque maxime aut aut ipsa. Quam atque atque laborum dolore placeat dolorem fugit.
Minima quod maiores dolore suscipit quasi distinctio qui. Dignissimos veritatis quisquam officiis nihil quia mollitia ipsa. Ut sequi qui voluptates necessitatibus commodi. Voluptates sint rerum quas aut et.
Enim odit dolorem quisquam. Esse velit architecto ipsam laboriosam aperiam velit. Labore velit iusto deserunt voluptatem nihil.
Delectus nostrum dolor aut similique voluptas. Mollitia minus delectus ipsam. Laborum doloribus quae quo qui sed porro.
Sed omnis commodi voluptatem ut amet. Et quisquam quia asperiores temporibus. Qui beatae quis sapiente. Ratione maiores sunt quia dolores sed.
Ut earum consectetur quia aut doloribus. Aut at vitae vel ipsum at. Illo aspernatur consequatur minus voluptatem aut aut. Sed reprehenderit sequi rerum. Id velit aliquid unde et sapiente quia.
Id sunt doloremque nesciunt deserunt. Iste sit qui quia sit qui dolor voluptatum. Qui voluptatum ipsam sunt eos explicabo.
Impedit dolores cupiditate laborum labore debitis provident et deleniti. Accusantium totam voluptatem sunt tempora ea eos veniam. Quia id laborum enim nihil.