Benchmarking BB/EB Base Increases

Comment any new/missing/incorrect info. Seems like firms are responding to information on the internet/social media, and it's also helpful for those seeking opportunities. Not tracking one time gifts/bonuses, only permanent, trustworthy increases in pay going forward. My list so far:

Guggenheim

A1: $85K --> $100K (+$15K)

A2: $90K --> $110k (+$20K)

A3: $95K --> $125K (+$30K)

AS0/AS1: $150K --> $175K (+$25K)

AS2: $175K --> $200K (+$25K)

AS3: $200K --> $225K (+$25K)

Bank of America

A1: $85K --> $95K (+$10K)

A2: $95K --> $105K (+$10K)

AS0/AS1: $150K --> $175K (+$25K)

AS2: $175K --> $200K (+$25K)

AS3: $200K --> $225K (+$25K)

Credit Suisse

A1: $85K --> $90K (+$5K)

A2: $90K --> $95K (+$5K)

A3: $95K --> $100K (+$5K)

AS1: $150K --> $175K (+$25K)

AS2: $175K --> $200K (+$25K)

AS3: $200K --> $225K (+$25K)

RBC

A1: $85K --> $95K (+$10K)

A2: $90K --> $100K (+$10K)

A3: $95K --> $105K (+$10K)

Houlihan Lokey (RX & CF)

A1: $85K --> $90K (+$5K)

A2: $90K --> $100K (+$10K)

A3: $95K --> $110K (+$15K)

Stifel

A1: $85K --> $95K (+$10K)

A2: $90K --> $100K (+$10K)

A3: $95K --> $105K (+$10K)

Also upped meal expensing to $50/meal lmao, crazy.

Yet to announce an increase:

BB ($85K/$90K/$95K):

Goldman Sachs 

Morgan Stanley

Barclays

Citigroup

UBS 

Deutsche Bank

Jefferies?

EB ($95K/$100K/$105K):

Evercore

Centerview

Lazard ($85K/$90K/$95K)

Moelis ($85K/$90K/$95K)

Perella Weinberg

PJT

Announced they will NOT be increasing:

Greenhill

J.P. Morgan

 

 

I think someone else said this, but at the very least it makes comp less variable even if bonuses are less, which is hype. My girlfriend's MBB offer package was $120K (granted, it included one-time signing/relocation bonus). Feel like Gugg is ahead of the curb in realizing smart, hardworking college grads have other alternatives, especially those who know even a little coding.

 

Thinking this may have tangential impacts for consulting firms (and other industries that compete with IB for talent) to increase pay to compete on campuses and PE firms to further incentivize analysts to leave a now (potentially) more appealing 3rd year analyst stint/A2A promotion. 

Thoughts?

 

This is an awesome post. Other BBs and EBs take note. It's not just about the money, it shows what banks recognize and reward the work we've put in. Senior management should be watching this thread and taking notes, these are the banks that are going to get and RETAIN top talent. Looking at YOU JP Morgan, Citi, and BarCap.

Array
 

Gugg is the biggest winner here if nothing changes. You may see more people who had offers at mid-tier BB's and Gugg choose to go to the latter which was less common beforehand. 

With that being said I know people at EVR & CVP and I would expect them to raise things to widen the gap even more within the next 18 months. 

 

Greenhill put all the analysts on a call and told them to more or less stfu. Then said no spot bonuses... lovely

The Chicago office lost all their original analysts since the new year... GHL needs to step it up.

 

Can confirm the same for Analyst level and for Associate level as well... Friends there at various levels and one of them recently left.. 

same firm wide group Analyst, Associate and VP calls... From what I hear they basically chastised wfh as the culprit and said start coming in to work and it'll get better.. no comp bumps, no spot bonuses (maybe they did other softer things around work itself).

Most fucked up thing I heard though.. you need fucking approvals from the MD for each night you want to order a meal.. and apparently even this was only started recently.. I literally mean having to send emails to your MD asking to approve a meal (unconfirmed but heard one case where an MD replied "do you really need it")...

Feel bad for the bullpens there to have slogged all year last year with no meal allowance, not so great / BB level bonuses (unless my contacts sucked lol) and now, when meals are back, to top it off having to ask permission before ordering a bloody $10 chipotle... SMH

Looking at their revenues and announcements, they seem to not be doing super well in recent years, so guess this penny pinching is a symptom. Heard lots of analysts, associates, even VPs left in recent months all around.. in NY, London, Chicago and other offices too.. 

 

I believe BAML is 95 / 105 for A1 & A2 respectively - only 2 year analyst program

 

i wish but doubt it, esp consdering citi is a 2 yr analyst program and not 3 yr

175k Asso base after 2 yr analyst would actually increase retention though imo

 

Its not really a 3 year program, 99% of analysts dont get promoted to associate after 2 years

 

Thanks for doing this, SBed. Do you think PE, hedge funds, private credit shops and other buyside firms will have similar increases? If so, have you seen a similar thread for those types of firms? Thank you again.

 

Anyone know the total comp at DB for first-year analyst. (Base + bonus)

 

Rothschild should be added to the list 85 -> 105 for A1

 

Rothschild bumped from 85k->105k for An1. Not sure how it scales for An2 onwards 

 

Rent is already back up. If you didn't lock in a covid deal by may you got screwed. Some of my incoming analyst friends are having a really tough time finding affordable places. 

 

Barclays analysts up $15k and Assoc/VP up $25k.

A1: $85k > $100k

A2: $90k > $105k

A3: $95k > $110k

 

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