Morgan Stanley Plans to Boost Junior Banker Pay as Much as 25%
Interesting to hear about the quicker promotions. I know some BB's started the 2 years as an analyst before promotion a few years back but surprised MS apparently wasn't one of them.
Anyone think we should be seeing pay increases for juniors across the street similar to 2015?
Not in banking, but it would be smart for the other BBs to raise salaries to match MS to stay competitive.
Can anyone at MS confirm this?
Would that mean the $125 (stub)/$150/175/200 progression goes to $150 (stub)/180/210/240? Seems kind of ridiculous if current VP bases are ~$200-250k.
I would guess 150/175/200/225. Which would definitely be matched across the street. EBs would probably quickly move up, as well, to stay about 25k above that. VP bases would probably move up to 225/235 for first year. I haven't heard anything yet but crossing my fingers.
+SB
That sounds a lot more reasonable.
I can confirm the $125k stub went up to $150k.
.
Susquehanna? a BB? wat
Probably auto corrected for Jackson Steinem
Hahahaha just go ahead and slide that one in there, you Susquehanna banker, you!
SIG = FIG bro
Great post
Master troll
"most go straight MF after one year" You clearly have no idea about the industry. Anyways, I can confirm
My MM still refuses to do early promotes (whether at 2 or 2.5 years) for analysts. It's absurd. Def doesn't incentive people to stay.
sad
Thanks Donald!
How long will it take to other BBs to follow suit in hiking base?
Can anyone confirm the new base salary tiers?
Is this only for associates or do analysts receive a pay bump too?
This would be pretty sweet. Probably will take a while to trickle down through other banks, though.
Good news for future slaves
"Yeh m8 i didn't bother recruiting for PE cuz of this new salary hike, cuz u know im not in this to make less money. just like econ 101 its all about supply and demand " - my associates
Only in the US?
Dorsia?
This is only for IBD probably. Didn't hear anything similar for sales&trading but i may be wrong. Salaries are already lower there, this will widen the gap even more.
it's a good time to be alive
Me likey
Can anyone confirm whether the 2-year analyst period is applicable for all offices?
Who does this affect exactly? Unlikely but 2019 SA and 25% more would be dope. Or does this start at associate level?
Associate from what I gather
Gather from what? More than this article?
Can anyone confirm analyst total comp (mid bucket) at MS? Is it changing?
Associates only. WhyTF would BBs pay 150 for glorified interns/analyst-1s.
They compete for talent that will stay with the bank for more than 2 years.
Does anyone know if this applies to IBD only? How about Sales & Trading?
I was wondering the same thing. Will we see this trickle through to AM, S&T at BB?
Doubt this trickles down to other business lines. AM and S&T don't lose a huge percentage of their workforce after 2 years. No need to bump pay to keep people there.
Only reason I am wondering is my firm AM and IB are same salary diff bonus obviously
Those on here who commented on confirmed MS Stub-AO going to 150, can you confirm if this went live IBD-wide? As in existing Associates also got the bump to the 150(stub)/175/200/225?
Anyone know of any other banks announcing bumps? I haven't heard anything at my firm yet, so wondering if this is a 2015-esque base change or just one-off
A1 base is staying at 150, so there's no bump from A0 to A1 anymore.
So A0-A1 is 150, A2 is 175 and A3 is 200? That would mean no bump across A1-A3, no? Or A0-A1 at 150, A2 at 200, A3 at 225?
So it's just an extra $10.5k ($25k*5/12) then. The article sure made it seem like a bigger deal than that.
A0 Stub: $150 A1: $175 A2: $200 A3: $225
Effective beginning new MBA class in Summer. Likely applicable across Street shortly.
Will this include global capital markets as well? ECM/DCM
Are these for MS? Effectively a $25K base bump across the associate ladder then, right?
Any news on other firms following the move? I start at an EB later this year and haven't heard anything on base increase. A0 (stub associate) is 150 at my shop. Any ideas what progression looks like at EBs? (Think Moelis, Greenhill, PWP, PJT/etc)
Yes for MS. What I heard from Selby Jennings today was Guggenheim was first to adopt the increase and potentially Greenhill as well.
150/160/180/210 at my EB. With total comp coming in 25-35% higher than BB at the associate level. I don't think there will be much reaction unless/until we see total comp rise significantly at the BBs, which this hasn't shown yet (but obviously could at year end, which would cause a chain reaction).
Are you sure those numbers are correct? What I heard is that A1 is staying at 150 and A3 is staying at 200.
I heard it was 25k across the board. Includes GCM.
I heard same as you, I think he's incorrect
Did A0's offer letters indicate 125k or 150k? In other words, once they hit the desk, will they be notified of a raise to 150k or was it already included in their offer letter?
Thanks
Those offer letters went out in August 2017. Why would they say 150k when the raise was just announced?
Revised offer letters were sent to incoming associates with the new salary number,
I'd be curious to see if total comp also shifts up 25% or if it will remain the same (higher base but smaller year-end bonus).
Was told that 125/150/175/200 is now 150/150/200/200. Was also told that no one is reacting yet because most don't believe total comp will change much..
All second hand, but directly from people who would know, so take that fwiw.
Hey guys, any updates on this or word of this being rolled out at other banks? Very curious...
Can confirm that JPM incoming associates got an email yesterday putting this into effect
Doubt an extra $68/day will have any meaningful impact.
Math is hard.
So what is new base now from A0 to A3?
Bump
Any updates? Would be interested to see if summer associates across the street can confirm these changes.
Whatever happened with this given conflicting comments and no recent updates. Was this effectively just a PR stunt by MS?
MS, JPM, CS, BAML apparently all increased base by 25k across the board for associates.
GS too
So where does Analyst promotes and business school associates start at?
Bump - anyone have any insight if this has translated over to other banks as well? Curious about MMs...
Is this only for IBD, or does this translate to all Front Office roles (S&T/ER/AM)? and have we confirmed Assoc. is now 150/150/200/200?
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