EB Salary Raises

Calling all EB juniors here.

As the major independent advisory banks have yet to announce anything regarding salary increases, it should be helpful to start a discussion here. 

I'm expecting EBs to mobilize soon since Goldman has announced, so this next week should be interesting.

Please feel free to share news, rumors, and thoughts as they come in!

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Comments (94)

  • Analyst 1 in IB-M&A
Aug 2, 2021 - 2:17pm

This sounds huge. Did they provide any timeline for announcing? What was the wording on $ figures? If EVR moves first and exceeds that will be amazing for the rest of us

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  • Analyst 1 in IB-M&A
Aug 2, 2021 - 3:31pm

Can you copy the contents of the email or describe in further detail what that means?

  • Incoming Analyst in IB-M&A
Aug 2, 2021 - 5:22pm

Email was from an analyst asking to send salary update info "to supplement their decisions for this year"

Given that summers will end this week, makes sense for salary bump to come before returns are given

  • Intern in IB - Gen
Aug 2, 2021 - 2:11pm

do people think EBs are going to increase above Goldman? something like 115 or 120 base seems too good to be true

  • Analyst 1 in IB - Cov
Aug 2, 2021 - 2:45pm

Wouldn't be surprised if EBs raise to 120 or even higher.

ex) EVR has no more than 100 first year IB analysts across all US offices. A $25k pay bump would be just $2.5m, a small price to pay to continue attracting top notch talent and preserving street reputation. 

Please lmk if you disagree, but just my thinking on numbers. Simple fact is EBs can afford to pay more as headcount is much lower than BBs.

  • Associate 2 in IB-M&A
Aug 2, 2021 - 3:56pm

just because you can afford to pay ppl more doesn't mean you do it. if you think your brand is strong enough that paying below competitors won't cause recruiting issues (aka what the GS discount has been) then no need to bump

Controversial
  • Intern in PE - LBOs
Aug 2, 2021 - 5:01pm

Do you still think GS gets the top kids? I go to a top target and all the top kids go to EVR/PJT. GS is for the diversity kids and/or mediocre kids. I think it's also a side-effect of recruiting like 5 months later than some EB's.

  • Prospect in IB-M&A
Aug 2, 2021 - 2:22pm

Anyone hear anything about BX, KKR or other MF PE Analyst/Assoc programs raising comp? Only makes sense now as your feeder programs and direct competitor (IB) has made it less worthwhile to jump to buyside? Could we see an industry shift in terms of exits now

  • Associate 1 in PE - LBOs
Aug 2, 2021 - 9:57pm

You're not going to see it widely advertised on here, given how few MF analysts/associates there are, but I know of at least 3 big funds that have raised pay. Still waiting for mine to follow. 

Aug 2, 2021 - 2:22pm

I wonder if this will have any sort of trickle-down effects to other industries. If banks are paying analysts 110-120k base salaries, that puts them on-par, and in many cases, above many post-MBA roles outside of financial services/consulting/etc. I'm thinking of roles in Marketing, General Management LDPs, Corporate Finance, etc.

  • Analyst 1 in IB-M&A
Aug 2, 2021 - 2:24pm

As a first year who just started, will these base raises affect my current base and take  take effect in the middle of my first year, or will I have to wait until I've been here for a year?

  • Analyst 1 in IB - Cov
Aug 2, 2021 - 5:08pm

At my bank the raise has already gone into effect for me as a new analyst.

  • Analyst 2 in IB - Cov
Aug 2, 2021 - 3:43pm

LOL. Email didn't use the word "mobilize", just over-eager analysts throwing it around. Email just indicated that mgmt has begun the process of determining base raises. 

Aug 2, 2021 - 10:53pm

So 85-> 100 is +15, to 125 is +40

Assuming 150 An1+An2 IBD only:

  • $2.25MM * .8 (tax shield) for +15
  • $6MM*.8 for +40

~ 1.7MM vs 4.8

I'm thinking +30 to 115 is plausible or 110 etc. as high as 125 would be a bit much but assumptions can be off too

Aug 3, 2021 - 12:06am

Heard base is 95 at EVR currently tho so an increase of 20k would pull it to $115, which seems about on par with the ~20k increases at BBs

Array
Aug 3, 2021 - 12:56am

115 would make sense, the others would be a bit much just for these fixed recurring expenses which are literally the worst for any business.

however there will be reasonable motion to do 110 just to be cheap, but the +5k at that point is worth it for differentiation purposes I'm assuming

$5 on 115 going once

  • Analyst 1 in IB - Gen
Aug 3, 2021 - 12:59pm

Yeah I was surprised by that too. In fairness, only PCA has a formal 3 year analyst stint. The third year is often used to switch groups or offices, otherwise you would be an Associate 1

  • Analyst 1 in IB - Gen
Aug 3, 2021 - 1:25pm

Believe it's 150 and it has been 150 for a few years. May have been raised though, I just got the analyst email 

  • Associate 2 in IB-M&A
Aug 3, 2021 - 2:57pm

didn't they institute some flexible wfh model too? personally would be cool w/ not earning above street with flexibility

  • VP in IB-M&A
Aug 3, 2021 - 3:08pm

Tue-Thu in office, Mon and Fri WFH, work from anywhere one month per year

I would pay attention to all-in comp once this year's numbers start to become known

  • VP in IB-M&A
Aug 7, 2021 - 11:08am

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  • Analyst 1 in ER
Aug 9, 2021 - 4:25pm

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