London BB ER total comp

Hi guys,

 

How much does a 1st year ER analyst (1st year from UG) receive in a BB like MS or BAML? And how does this progress compared to IB? Also do you think the chance of moving to a L/S HF is better in ER or IB?

 

Thanks!!

Comments (5)

 
Nov 9, 2020 - 11:06am

Fresh from uni, ER base likely 50k, could be a bit more at BB; IB base should also be in that range (probably more upside to that figure)

First year bonus is not great in ER, depends on your firm/team but I would say 5-10k is the norm (and there is more downside than upside to that figure) vs IB wider but higher range of 20-50k

you probably will screen as a stronger BS candidate with some ER experience vs IB

 
  • Prospect in HF - Other
Nov 9, 2020 - 6:47pm

Thanks for the response. Really appreciate the insight. Do the bonus numbers get better as you progress relative to IB? If not do you think it is best to do IB and then try move to buyside?

 

Is there a typical path to a HF from ER, similar to the 2 years IB and then PE route?

 

Thanks.

 
Nov 10, 2020 - 4:29pm

Bonus will improve on absolute terms, but relative to IB I think they actually worsen with time. It will take years for a ER analyst to get a 100% bonus, and he/she probably needs to be top-ranked.

Well if your end goal is HF, I would say it doesn't really matter if you loose a bit of comps in your first two years by choosing ER over IB. After 1/2 years, it will be easier for you to apply; also not unusual for recruiters to reach out directly if your team is good.

If you pick IB, you'll get more money, a worse life balance and arguably weaker opps for HF recruiting. 

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