London AM Graduate Analyst Compensation Advice

Hi WSO,

I'm looking for a little advice on compensation at this stage in my career.

I'm a (Quant) Risk Analyst at a private fixed income AM shop in London (AUM is c. £40-50bn, with around 75 employees globally). I put "Quant" in brackets as it's a more general analyst position, involving work for both my team and the investment team. I have been with the firm since getting my Bachelors in summer 2018 (I interned a year before). I'm also a level II CFA candidate (most of our senior management are charterholders).

I joined with a starting salary of £35k, with a 10% bonus. This was bumped to £38k (c. 9% increase) a year later at my first pay review (scored 3/4).

I'll happily admit that I didn't add a lot of value when I joined (so I was happy with that base, and didn't push for an increase last year), but my experience and responsibilities have since increased markedly. I've also been directly involved in the delivery of several projects over the last year (leading a couple of them), which were all succesful and well received by other teams.

My contemporaries working in AM and commerical banking are mostly on £40-45k already (unsure of bonus) with the same amount of experience. A couple have moved, but most joined two-year grad schemes are rolling into Analyst positions. I'm not currently paying much attention to those I know in IB, as they're on a different level.

My next review is due in the next few weeks, so I am trying to gauge what sort of salary increase I should expect/possibly ask for. Looking at similar roles on benchmarking sites like Glassdoor, it appears that my base should be closer to £50k. This is clearly a large YoY increase, so I fear that it won't be possible based on whatever budget has been allocated to salary increases for this year. At the same time, our performance has been strong (even following recent events) and I'm sure it goes without saying that most other people at the firm are being paid an awful lot more. Hence, the $ increase is a drop in the ocean in the grand scheme of things.

It's worth mentioning that I plan on moving into an Investment Analyst role on completion of CFA, moving firms if absolutely necessary.

Does anyone have any insight into what I should realistically expect, and how I should best approach this? I am otherwise happy at the firm (I recently bought a small amount of equity) and would rather not leave (at least until I finish CFA).

Thanks!

 

Dolorem ipsa sint earum alias. Porro dignissimos velit blanditiis omnis non saepe. Corporis soluta architecto aspernatur quasi consectetur molestiae.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
DrApeman's picture
DrApeman
98.9
9
kanon's picture
kanon
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”