Bonus Season - Comps

After a record breaking year, bonus season is upon us.

Wanted to get a thread going to share what banks are paying so we can see which banks are low balling the juniors.

If you guys got your numbers, please disclose in the following fashion:

  • Bank (Specific Bank Disclosure Encouraged)

  • Group (Coverage, Product, etc)

  • Position (Analyst 1, Analyst 2, Associate 1, etc)

  • Rating (Top, Mid, Bottom)

  • Bonus Amount (For BB let us know how much of that is stock)

Look forward to hearing from all of you!

Comments (729)

Jan 13, 2022 - 10:35am

Just got my number so I'll kick it off.

- Citi

- Coverage

- Associate 1 (not stub)

- Mid bucket

- 115 (25% stock, brings me down to a 86k cash bonus)

Record breaking year, and got the same median bonus as prior years...

Jan 13, 2022 - 12:24pm

- Location: NYC

- Base Salary: 175k (but during the call they said our salary 160k pro rated for the year)

A buddy of mine same class / group got 90, but is walking away with more cash in pocket since he doesn't get stock...

  • Analyst 2 in IB - Cov
Jan 13, 2022 - 1:05pm

As an associate 1 (not stub) at a bad BB last year, mid bucket I got 110k all cash (off my 150k base).  Thought that was sort of low, but whatever, my bank sort of sucks....

thats not unheard of,  some bbs sort of give weak median bonuses compared to the EBs

Jan 13, 2022 - 11:29am

For analysts 

Money can purchase freedom, if you have the guts to buy it

  • 1
  • VP in S&T - Other
Jan 15, 2022 - 11:07am

I mean full disclosure, none of my post-analyst roles in S&T have been directly P&L link. I was a FO quant and now do what I would basically refer to as FO quant risk, which is basically a risk management type thing that sits within the business itself, not independent risk. So actual traders' comp I'm sure is probably higher than mine, and there have (or were at least last year) trolls around posting bogus low S&T comp.

There has been a range thrown around recently of 300-500k for VP in S&T, maybe adjust that down 15% since it was such a shit year and you are looking at 255-425? So yeah, I mean I guess 175-225 base + 80-200 bonus. I'm sure very high performers can break this range and I think the low end is pretty uncommon, 255 for a VP would be really bad.

I am tempted to jump to a fund and/or back into a direct risk taking role (might be harder than I think to get but I would at least have a legitimate chance). But on the flip side I work like 8-5:15 M-Th, 8-4 F and have a good amount of autonomy and respect within my team and am concerned that leaving that even for an extra 100-200k might be a stupid decision.

  • VP in S&T - Other
Jan 13, 2022 - 12:32pm

Manager communicating 10% YoY increase like it's a good thing.. inflation was 7%.. top performance ratings, what the fuck were they going to pay me if I was mid bucket?

  • Associate 2 in IB-M&A
Jan 13, 2022 - 1:00pm

MS/Citi Assoc 2, all in 335K. Mid bucket. Hot sector coverage

  • Associate 1 in IB - Gen
Jan 13, 2022 - 2:09pm

Did this few weeks ago on the other thread but let me put again and feel happiness deja vu

Bank: Canadian BB

Rating: Top

Group: Coverage

Location: NYC

Position: Associate 1

Bonus: $225k

  • Analyst 2 in IB-M&A
Jan 13, 2022 - 2:30pm

Associate 1 in IB - Gen

Did this few weeks ago on the other thread but let me put again and feel happiness deja vu

Bank: Canadian BB

Rating: Top

Group: P&U / Energy

Location: NYC

Position: Associate 1

Bonus: $225k

So BMO? That's their top group correct? Regardless $200K plus as an Associate 1 sounds insane

Jan 13, 2022 - 3:31pm

Associate 1 in IB - Gen

Did this few weeks ago on the other thread but let me put again and feel happiness deja vu

Bank: Canadian BB

Rating: Top

Group: P&U / Energy

Location: NYC

Position: Associate 1

Bonus: $225k

- expand -

So BMO? That's their top group correct? Regardless $200K plus as an Associate 1 sounds insane

Lol it's RBC. BMO is ass in the US

  • Associate 1 in IB - Gen
Jan 14, 2022 - 12:33am

not sure tbh. but someone got 175k and they arent liked much so assuming thats bottom

Jan 13, 2022 - 2:44pm

I think banks are looking at the base bumps as justification to lower the bonus %.

So instead of 175 plus 160 (which wouldnt be unheard of for a second year associate at a mid or low bb)

Its 200 plus 135

Total comp is same.   Sucks they are doing that...

Array
  • Associate 1 in IB - Cov
Jan 13, 2022 - 2:49pm

Ive been getting MS for saying this for the past 6 months. It's stupid to assume bonus % is staying the same. Raising the base was a beautiful PR stunt by baml

  • Associate 3 in IB-M&A
Jan 13, 2022 - 3:10pm

vp at citi here. top 20 pct of class (not top 10 pct)... total comp up c. 20 pct

good for a normal year... not too impressed given the record year we have had though

looks like citi not paying lights out. people will probably leave

  • Associate 3 in IB-M&A
Jan 13, 2022 - 3:39pm

yeah. suppose more difficult to leave more senior you are. they know that hence the mediocre bonuses

Jan 13, 2022 - 3:27pm

Citi cannot pay. It's just a fact given their returns for shareholders. They ain't gonna pay shit compared to the street until they get ROE in line, which could take a while.

  • VP in S&T - Other
Jan 13, 2022 - 6:31pm

Gonna be tougher to do when everyone leaves. Short sighted.

  • Analyst 1 in S&T - Other
Jan 17, 2022 - 11:06am

This is at a BB, it was upper quartile but not the highest bonus they had paid out. HR said I ranked in upper 25% but top 20-10% would see slightly more.  My first year base was 85k.

  • Analyst 2 in CorpStrat
Jan 13, 2022 - 7:06pm

Why do people post anonymously (Analyst 1 in IB Gen, Associate 2 in IB Cov, etc) and use vague descriptions for banks (BB / Major city)? How much anonymity do you need?

  • Analyst 1 in IB-M&A
Jan 13, 2022 - 7:47pm

Lol agreed if ur at a BB there's like 500 other people at ur bank almost no chance to guess who the person is. Should just say the name of the bank and maybe ballpark

  • Prospect in IB-M&A
Jan 13, 2022 - 8:21pm

Hey dude - any idea what bonus ranges AN1/2 at JEF can expect going forward in non NYC groups (HOU/SF), factoring in the base increase?

Jan 13, 2022 - 10:16pm

I'm ok with it. A little low, but hard to complain with 575k for a relatively easy year for me. I have great juniors who do the heavy lifting. I have lots of nice perks at work as well.

Also, you'll find the longer you work in the real world, you start to understand some of the comp numbers here are not always realistic. Whether people exaggerate or just straight up lie, I'm not sure.

Thief is the comparison of joy. Also the fact my wife makes more than me takes away some the sting of a "relatively" low bonus lol.

  • VP in S&T - Other
Jan 13, 2022 - 9:25pm

Citi paying shit bonuses in the middle of the great resignation / super hot job market.

Bold Strategy Jason Bateman GIF - Bold Strategy Jason Bateman Host - Discover & Share GIFs

  • Associate 1 in IB-M&A
Jan 13, 2022 - 11:17pm

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  • Director in IB - DCM
Jan 14, 2022 - 9:04am

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Most Helpful
Jan 14, 2022 - 12:08am

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  • Director in IB - DCM
Jan 14, 2022 - 12:32am

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Total Avg Compensation

January 2022 Investment Banking

  • Director/MD (5) $604
  • Vice President (23) $377
  • Associates (149) $242
  • 2nd Year Analyst (85) $153
  • 3rd+ Year Analyst (15) $150
  • Intern/Summer Associate (65) $144
  • 1st Year Analyst (296) $142
  • Intern/Summer Analyst (226) $90