FT09 Starting Salary

Hi everyone,

I was wondering what starting base salaries for people starting this year? I've heard from friends going to BB's that they are all getting 60K base (Citi/BofA/JPM). I've also heard 70K base from a friend at a top boutique.

What is the norm? And also if you are getting a higher base does this suggest that your end of year bonus figure is going to be smaller?

 

70k base 10k signon - for relatively well know boutique in nyc

no indication of lower bonus (1st years in 06 got 90k like other top buckets at BBs/etc), these guys can just afford to pay more since they don't have huge operations to support, and run very lean

 

First years at my MM bank are expecting top bucket bonuses in the $40-50k range, only down about 35% from last year. The lone benefit of not being with a BB - they realize they have to pay to keep the talent, and they have the cash to do so.

In '06, first year bonus was $100k - that would be the same total compensation as walters bank, just spread differently.

 

i was just kidding around.

not a big fan of "my dick is 1/2 inch bigger than yours" type posts

not to say that this was one of those type of posts.

The world has changed. And we must change with it.

------------ I'm making it up as I go along.
 

Its all relative. I think we all know that BBs don't employ geniuses in the strictest definition of the word. They get the well rounded, really bright kids. A boutique that hires someone that is the one in a million good will hunting type can pay them whatever they feel like

 

neither boutiques or BBs employ (or exclusively search for) geniuses in that sense of the word ("one in a million good will hunting type"). and that's not why boutiques pay more either.

boutiques pay more not because they have better talent, but because they want to induce kids who would otherwise go to BBs to go to them.

the only firms that search for "good will hunting" geniuses are hedge funds like DE Shaw, and they give them math tests to make sure they're that smart.

 

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