MM Pay Updates

After seeing a few updates on BBs and EBs increasing base pay for juniors, has anyone heard of MM adjustments as well? Would think that street pay would increase across the board but might be different for the MM banks. Any insights would be good to hear especially for WB, Baird, HL, Piper, RJ, etc. type of shops.

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  • Analyst 1 in IB-M&A
Jun 11, 2021 - 10:55am

It's been posted everywhere on the website. All in for this past year will likely be 180kish. Weird thing about Blair is your bonuses get paid in Feb, so huge payout after 1.5 years rather than a year and 2 year bonus.

  • Analyst 1 in IB - Ind
Jun 12, 2021 - 8:49am

Can't believe HW hasn't given spot bonuses or raised base yet when all its competitors have done one or both

  • Analyst 1 in AM - Equities
May 11, 2021 - 10:30pm

Don't have any insight on any increases, but Roths was 85k before any new increases that may have recently happened. 

  • Associate 1 in IB - Restr
May 6, 2021 - 9:10pm

Nothing at my MM.  One time bonus w/ an immediate vest would be nice, though.  Put it in the bank and fuck off to the buy-side the next day.

  • Associate 2 in IB-M&A
May 7, 2021 - 1:59pm

Bonuses were OK but lower than everyone would have liked given the record year.  But every MM firm is always ahead of the curve and Piper is always dead last. 

May 7, 2021 - 3:43pm

Can concur for Piper…. 0 bones thrown this year except a stub bonus for 2nd years/associates (who got shafted last bonus). Piper brass seems to be oblivious to the negative feelings the juniors have, they're blinded by the fact they're doing well and few juniors have left so far.

They've made a bunch of missteps, like hiring two healthcare MDs in London without junior teams, forcing the other healthcare teams to take them on while already understaffed. I wonder if there will be an exodus after bonus season?

  • Associate 2 in IB-M&A
May 7, 2021 - 4:20pm

There will 100% be a mass exodus if they don't follow HL, Stifel, Blair, etc.  Then they'll wonder why, and the cycle restarts. 

  • Analyst 1 in IB - Gen
May 8, 2021 - 4:02pm

Stifel announced a 20k appreciation bonus for analysts/associates, 2.5k if a referral gets hired, $50 dinner stipend everyday, mandatory week of a vacation, protected weekends

May 11, 2021 - 11:26pm

My bank has already had a high rate of attrition this year and guessing that a bunch of A2A promotes are going to leave the day after bonuses hit, given that we have gotten fuck all.  We have gotten 0 WLB or comp perks.  The MDs are having a banner year though, so who gives a fuck, right? 

I come from down in the valley, where mister when you're young, they bring you up to do like your daddy done

  • 1
May 12, 2021 - 1:31am

I believe RJ announced a $20k covid appreciation bonus for all analysts on top of year end analyst bonuses paid in June. Also an additional $10k to be paid out in december if you decide to stay on. RSU bonuses for associates and VPs. 

Can't comment on other middle markets though, but heard that Stifel is also doing the $20k covid appreciation bonuses

  • Summer Associate in IB - Ind
Jun 11, 2021 - 7:31pm

I know they raised associate salary by $20k

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Total Avg Compensation

July 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (36) $363
  • Associates (209) $232
  • 2nd Year Analyst (120) $152
  • 3rd+ Year Analyst (28) $146
  • Intern/Summer Associate (101) $144
  • 1st Year Analyst (444) $133
  • Intern/Summer Analyst (357) $82