Highest paying IB
Sophomore SA here. Looking to do junior year SA gig at the highest paying Investment Bank.That's honestly what motivated me to pursue this job.So, what is the highest paying bank for Ans ?
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Career Resources
Centerview
CVP can’t even outpay some of its bulge competitors this year 😜
Lmao yes they can. Their base is materially higher than the rest and bonuses, while more difficult to accurately track, are ... hefty.
Banks that pay more than typical “above street EB” are Centerview, Qatalyst, LionTree, Dyal, Ardea.
Qatalyst pays like shit compared to the ivory towers of CVP. LionTree and the others don't even come close to CVP/PJT.
Are you drunk
Moment of silence for your account that got banned for some kkk grade racism I suppose. Still as wrong and stupid as ever
Qatalyst actually pays more than both of the firms you listed
LionTree?
Definitely Centerview - if you want highest paying bank, go for EBs rather than BBs.
Go EBs or go straight to MF
MF analyst programs do not pay as much as the highest paying analyst programs like Qatalyst
You made another list about being at a super non target.
you shouldn’t worry about top of street pay none of these firms will seriously you consider you for an offer (reality sorry)
I got selected for Evercore IB Simulation, and I have an upcoming interview with them in 3 weeks time for a 2023 SA gig.
Got selected for PWPs in person event in NYC (only 20 selected for NYC office), and also have a superday with them (part of the event)
Selected for Guggenheims Freshman Day on the Job program and Sophomore FOCUS program which comes with a superday for 2023 too.
Selected for Lazard Sophomore Academy which is a multi week training program followed by a 3 day in person event in their office and a superday.
Got selected for Lincoln International Sophomore M&A Job Shadow in person program and have upcoming 2023 interviews with them too.
Also have upcoming accelerated interview with HL through a non profit program I’m in and we helped establish a relationship and pipeline with them which is why we get accelerated interviews.
Just because someone is non target doesn’t mean they can’t break into IB and these Boutiques which all pay above the street.
Stop shutting people down, I’ve worked really hard to stand out as an ideal and skilled candidate.
Deleted.
No one is being a dick, you’re just mad we ended up at the same place even though I come from a non traditional background. Hold this L
Would you be equally as triggered if he got in due to his daddy being a client? Probably not. Regardless of your thoughts on diversity programs he still had to go through a competitive selection process, unlike those who get in through family connections. But you never hear people on this forum complaining about that side to recruiting.
You're really fucking weird for going so hard at some undergrad kid trying to get a job.
Look at the diversity kid bragging haha
Lol none of the shops you mentioned are "top of the street", even in a normal year. In 2021/2022 when banks will take anyone with a pulse until the market crashes and dump the juniors, getting interviews/superdays at the MM shops you listed is basically expected, even for a nontarget such as yourself.
Don't overstep your social position, plebeian.
You are diversity dude, wtf are you talking about lol. You guys are basically selected for a position before you interview
Go to Lazard or Moelis. You need a sweatshop to beat that arrogance out of you.
Dude, are you trying to flex how black you are?
Congrats, that's impressive.
Good job getting interviews and sophomore events? Those seem super exclusive I don't know how anyone could compete with that smh
]
jeeeeez
Why are people so triggered at a kid who just wants to make money? Don't you guys have something better to do? Youngin' just asked a question pertaining to his interests and some of you start shitting on him for being diversity. You're what's wrong with our community.
its really strange how bothered these kids get by others trying to better themselves. Literally had no impact on their lives yet they still come on the forum to bash the kid.
Lots of smart, ambitious people running around WSO with the most fragile egos
More of just ticked off by the arrogance. It’s incredibly impressive what he’s done, but he could’ve worded it in a much better way.
He's a kid it's not that deep.
For a summer analyst position can’t forget WF. Obviously bottom comp for FT but their summers get paid. Knew a couple guys who made 40 no cap
Cap
Not cap. Was an intern at WF with comp at 40/hr plus overtime.
How are their bonuses for FT hearing good things layely
.
The analyst associate comp is pretty transparent. IF the question is on longer term money that requires a different discussion but honestly I would do it for experience b/c that determines exits which matter more
I hear Tobin and Co. is currently paying the highest.
Came here looking for comp benchmarks and got class warfare instead. Never change WSO
I'm confused, if money is the primary driver wouldn't you want to optimise for what would give you the best (highest paid) exits after analyst years? CVP will be great for this but I hear the fat bonuses come with claw back clauses or something. IBD comp is great, especially for grads but is it worth earning 25-40% more in AN1/2 for a shop that would give you worse chances at exits which would put you on track for much greater comps than if you stayed in IBD?
Honestly if money is the only factor I'd suggest trading tbh but there's a more solid skillset required there.
How are managing directors pulling 1-3mm in trading if its mostly executionary and not prop. Also agree on your comment above.
I'm assuming you mean in BBs. In which case it is certainly not just execution/agency. Even if it is, the comp depends entirely on desk. Some places/desks will be much better than others purely due to the team. The range of clients, volatility/margin of product, and a bunch of other factors will affect the spreads on your book and ultimately your desk's PnL. At senior levels, traders get a signif % of this PnL. Obviously, if your desk is a healthy mix of excellent salespeople and traders you can make some good money. Not pre-volcker levels and people earning more than IBD counterparts is rare - but it definitely happens. Less of a top bucket limit here too.
Senior top traders, and desk heads, can get 8 figure bonuses on (extra)ordinary years, much like 2021 and goldman sachs partners - assuming the "book" they kept reflected this. There is still a decently strong level of prop trading banks engage in, and that's through hedging client's exposure and warehousing risk. A bank can leverage its own balance sheet depending on the trade to express an opinion in the markets and take a position. Its less straightforward than the old prop desks but it can and is a source of revenue for the desk alongside commission. I've ignored market making here since I don't wanna go into this too much more.
Also something I think is underrated: S&T progress is much less linear, you don't have to do the set years in each position, you can progress and be rewarded more if you are good. Again looking at goldman the youngest partners have always been in S&T.
This was a tangent; by trading I actually meant at prop shops, hedge funds and trading houses. Not BBs, but a lot of people have misconceptions about what the T in S&T is like so I lightly expanded.
there is way too much going on here... the simple answer to OPs question is CVP and it's not even close. Good luck
Qatalyst
RBC Calgary
Go to EBs!
You chose us before we chose you
Someone posted a screenshot on liquidity of CVP's comp range and it was crazy. For 2021, figures were changed to like
An1: $205k
An2: $300k
An3: $340k
A2A Retention Bonus: $200k
You can find the SC on their overheard story. If this is true, than an A2A would make over $1m pre-tax over 3 years which is just mind blowing to me.
Edit: Here's the SC: https://imgur.com/a/yOYxFLv
These numbers are high but still lower than Qatalyst
Makes sense. Qatalyst is much smaller headcount wise.
can you share qatalyst comp?
net or gross?
Gross I assume
Note: I’d put PJT at 3 since I believe they may have raised recently or plan to (also fat bonuses).
Lol you know outside of this year's stellar bonuses, GS has historically been one of the lowest paying BBs right?
Ya, kinda aware. I work there. They were asking for relevant info. Pay is here to stay
Have a friend at Lazard. Their base lags behind the other EBs (still at 100k) and bonus is a comparable % (80-100%) of base. Compared to the absolute dawgs at CVP, they're living on financial aid
Very low pay. Base is lower and % is lower, even if bonuses match as a percent, they can never compete on pay
Know someone at Lazard and understand pay on average is low compared to other EBs. This is on top of Lazard being very sweaty. I heard though if you are a top performer, they pay a lot as in in-line with top bucket Moelis for example.
For what it is worth, Lazard is at the top end of the associate base ranges A0 (stub) - 185, A1 - 200, A2 - 225, A3 - 250. Not sure about bonuses though.
Early innings for bonus season but GS and Baird blowing others out of the water so far
Any info on how Gugg stacks up?
Decently better than BBs but idk exactly
They pay extremely well. I’d expect them to be up there this year
Generally in line with EBs
Private >> public on average. Gotta love shareholders.
I can tell you who isn’t. Baird.
Weird, everyone is raving about how Baird made it rain this year $$$
How's PJT?
Definitely CVP and Qatalyst in the US, with EVR following closely behind. I mean the freaking A2A bonus at CVP is 200K
Agreed. I know someone at both firms. A guy at Qatalyst I’m close with hinted at some figures and it’s actually hard to believe.
As someone who finished a month long lateral process earlier this year here’s my 2 cents which I picked up.
Full coverage EBs
1. CVP by a mile. An1 is 50k signing bonus, 130 base, YE bonus of ~100% of base all cash.
2. EVR. An1 is 25k signing bonus, 120k base, YE bonus YE bonus of ~70-100% of base all cash. Bonus is very group dependent, bucks are minor, only 10k between top and bottom.
3. Gugg. An1 is 15k signing bonus, 110k base, Ye bonus is supremely high, often 100%+ with some top analysts in good groups getting mid/high 100%’s.
4. Moelis, PJT, PWP
5. Greenhill (some would argue they aren’t an EB, gonna avoid that debate today)
100. Lazard, bruh these guys are the adult version of teachers cutting a single slice of pizza into thirds to share with the class. Low signing bonus 10k, 100k base and YE bonus around 70-80%.
Industry Specific EB
Never recruited here but I’ve heard positive sentiment on Qatalyst and Liontree.
BBs
1. GS by a mile, signing bonus 10k, 110k base, YE 80-100% of base (not sure on An1 as they haven't been paid yet, using As1 numbers as a %). Ramps higher as you get more senior (will be offset by restricted stock as you progress, but that’s industry standard)
2. JPM and BAML both at 10k signing, 110 base, not sure on bonus
3. MS, Citi, Barclays (MS and Barclays still at 100k base, Citi raised but their YE bonus is atrocious)
4. CS, UBS, DB
Caveat to this is that excluding this/last year, GS has been one of the lowest paying BBs (famous GS discount). If this year's kinda bonuses keep going, then yeah you will be right on the money.
Totally right - GS set the standard this year and paid way over all expectations but this was certainly not the norm in previous years. Will be interesting to see if they continue as such. Given Solomon took office in 2018 and focused a lot of GS ' efforts towards the investment bank rather than their markets-focused products, it's not like he raised comp for bankers since he joined. But perhaps given the success of the firm this year and how competitive the market was expected to be this year he blew the doors out to make a statement. Just conjecture though
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