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!
| +134 | Is my life over after not getting GS? | 32 | 3h | |
| +73 | Best IB group on the Street | 35 | 3h | |
| +66 | Thoughts and tips on how to speak like an investment banker. | 25 | 1d | |
| +58 | BIG FOUR ARE PARADISE | 15 | 22h | |
| +49 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 23 | 14h | |
| +38 | UBS Outlook | 28 | 2d | |
| +35 | How to deal with egotistical team? | 6 | 3d | |
| +32 | Are you “less ambitious” for having long term goals outside of NYC | 13 | 6h | |
| +26 | Very ridiculous interview feedback | 13 | 8h | |
| +26 | Got RBC offer but I have cold feet accepting. | 34 | 10h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Evercore just mobilized according to internal email. Kind of sounds like they are looking to exceed leading figures (110k), but could be in-line. Should be interesting agreed
Can confirm
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
I didn't receive this email????????
Only analysts were included on the circulation but can confirm receipt of it
Confirmed (the mobilization, not the 110k figure)
Idk though. Id heard that they could only scrape together cash for the first 10k of the raise. Rest will be PIK toggle between gift cards at the online shop or extra copies of books
Can you copy the contents of the email or describe in further detail what that means?
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
do people think EBs are going to increase above Goldman? something like 115 or 120 base seems too good to be true
I hope so lol
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.
This logic gives me hope
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
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.
You can’t just raise An1 that much without raising 2,3 and likely Associates. So much more expensive to implement.
.
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
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.
Would you mind sharing which firms and/or how much they have raised by?
bump, curious about this as well
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.
Personally don't think so. Those other industries don't compete for same talent as banks
What about potential comp raises for PE? Especially PE MF Analyst/Assoc programs?
At the mba level they absolutely do. I think it will have a trickle down impact, at least potentially to consulting.
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?
At my bank the raise has already gone into effect for me as a new analyst.
Anything from Lazard?
Nope, we are all holding out hope though
https://twitter.com/litcapital/status/1422628334274547719
Bump
Why does Evercore want to make it seem like they're at war? "Mobilizing" LOL ok, just shell out already
x
Ha.
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.
Great, thanks!
Anything on CVP?
Nope.
Any update from CVP? Do you think they're going to raise?
Heard they’re gonna lower comp lol
i'd still take them over gs
.
Also Interested to hear about MOE/PWP/LAZ?
So 85-> 100 is +15, to 125 is +40
Assuming 150 An1+An2 IBD only:
~ 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
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
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
Lazard just raised it! An1 100, An2 110, An3 110. Didn’t match GS but still happy with a raise
Congrats! AN3 same as AN2?
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
What's current lazard Assoc1?
Believe it’s 150 and it has been 150 for a few years. May have been raised though, I just got the analyst email
nice stuff!
Anyone else a little shocked by Lazard numbers? A raise is a raise but seems low for an EB given places like GS and William Blair going 110
They raised from 85k, they pay low
didn’t they institute some flexible wfh model too? personally would be cool w/ not earning above street with flexibility
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
"one month work from anywhere"... applies to AN1?
Did they say anything about associates?
When will PJT/ MOE/ PWP/ EVR raise?
hopefully this week, fingers crossed
nothing from PWP?
Not yet.
EVR coming thru soon..
they better come "thru" soon
girl you aint even gotta stress. they gotchu bb
Evercore bumps to $110k first years. Source: summer analyst return offers
Friends brother is a VP/D at EVR and apparently the bonus pool is going to be “very nice” for juniors this year
after seeing goldman discount sachs' bonuses they fucking better be nice lol
It better be nice in Europe as well.
Does the 100% target bonus for banks still apply after the base increases?
Anyone heard from pwp?
How much are all-in comps for ED level bankers these days?
Minima et quam ratione qui magnam autem. Consectetur quis ex deserunt. Rerum totam veritatis et aut quibusdam omnis omnis.
Odit tempore earum rerum ut repudiandae. Doloremque ad hic natus sed facere accusamus odit eos. Iure laborum natus aperiam tempora voluptate similique quia. Sed eum exercitationem velit vero voluptatem eius. Nostrum inventore harum veritatis provident aut quia ab quasi. Voluptatem cum qui sit vitae culpa odio. Neque quis tenetur magni quo doloremque.
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...
Officiis est veniam sint distinctio. Odio molestias cum exercitationem veniam dolor ipsa quos. Non perspiciatis unde soluta omnis iste. Odio veritatis ipsam rerum aut. Qui fugiat esse eligendi pariatur incidunt quia. Vitae et eos voluptates sed suscipit.
Mollitia molestiae ut et mollitia. Hic et et beatae unde voluptatem beatae.
Ut repellendus alias officiis optio molestias dignissimos. Laborum laboriosam aspernatur ea omnis incidunt voluptas qui. Beatae aperiam neque et rem omnis officiis maxime. Alias aut enim dolorem maxime explicabo accusamus rem.
Repudiandae totam et est mollitia autem. Velit sed earum sunt facilis accusamus neque et. Itaque assumenda quis dolorem. Totam ab est quas maiores sit.
Explicabo aperiam qui deleniti quasi dolor ut. Corrupti tenetur necessitatibus eveniet esse ratione. Incidunt modi nostrum omnis fuga et maiores.