New 1st Year Associate Packages

Credit Suisse - 90K + 10 K sign-on/relocation

Only 10k?

BoA 80K + 15k s.o./Reloc.

MLynch 95+15

person with offer from BoA - can we please take this offline? My offer was 70K+15K!! Can the offers wary so much?

Are your offers in NY in GIB? That seems pretty low considering my roommate's salary for the summer was an annualized $95k.

Which bank are you talking about?

I'm surprised that Merrill Lynch is paying sort of generously this year.

Heard JPM is 105 starting

You would think that all BBs in NY pay the same base. I doubt that CS and GS pay 90k while Citi and ML pay 95k and JPM pays 105. I can understand if GS underpays, but not the other banks. I am sure that recruits can get their bank to match JPM's offer if the bank is serious about recruiting these candidates.

Other than BAS, what other BBs typically pay at the higher range for base salaries? I hear that Lehman and CS are paying 30k sign on and 10k relocation bonus in addition to the 5k summer bonus.

Wow that does seem low. I think most of my classmates for the summer were being paid based on at least a $95K salary or more. PLus, I expected the signing bonuses to be at least $30K.

Does anyone know how this compared to last year?

the firm

Last year, associate 1st year bonuses at HSBC in NY were $30-50k in corporate finance.

This led to 70% of the associate class walking out...

95 + 30 + 10 + 5 + 5 for first years starting 2007 fresh out of b-school.

Mine was 95 + 30 + 12 + 5 + 5 at one of the BB's.

clarification--that's sign-on, not the 1st year bonus.

At mine, it was 12 relo, with 30 sign-on. But in addition there's 5 for signing right away, and 5 for an end of the summer bonus.

cause they need to pay more to attract and prevent people from shopping their offers...although 2k is nothing

Hmmmm....that's interesting...$105k starting at JP Morgan and $110k (starting and relo) at ML...I thought JP Morgan and Merrill Lynch were notoriously stingy with pay....

Well I guess I'm wrong. :)

I konw people that got offers at ML for 95k + 10 for relo.

Any word on west coast offers? I've heard it's generally 5K lower than NYC? Is that true? How about boutiques?

I'm a second, or rather first full-year associate in LA - joined in summer '05. Our base was $95k + $30 sign + $47.5 stub bonus (paid in December).

I can't imagine paying any less than last years offer, especially considering how well M&A is doing this year.

I'm curious as to what bonuses were last year from other banks for first-full year associates (6-18 months experience)

I'm at a BB and our offers were the same across the board (LA/SF/NYC etc.)

I know this year for BB it was 95 base 30 sign ... stub is still unclear ??? would love to hear if anyone has info.

The BB in NY I interned at had a 30k signing and 10k relocation with a 10k summer bonus

Some banks (Leh, ML, MS definitely, and maybe others) upped the signing bonus to $40k for Class of 2007 MBAs. So, it's now $95k salary + $40k signing bonus + $10k relo + $5 to $10k end-of-summer bonus depending on when you signed. Then there's the stub bonus that, for Class of 2006, will be around $50k (no way to tell right now how much the stub will be for Class of 2007 1+ years from now). First year associate bonuses (for Class of 2005 grads who are about to get their first real full-year bonus) will be close to $200k (some analysts got $100k this past summer).

Pretty much everyone has gone to 40K for sign-on

250?

Looks like total's going to be like $300k+

definitely more than 70k for associate!! I'm a second year analyst an dI'm making 70k!

They seem to match NYC. From sources at ML, Citi, and LB in London

Signing: 40K USD Summer Bonus (if you were an intern): 10k USD Relocation: 10K USD Salary: 60K GBP Stub Bonus: variable

My offer as a 1 yr assoc at UBS and BAS in NYC:

Base 95K Sign-on bonus 40K Relocation 10k

Looks like associate pay has gone meaningfully up even from pre-crisis levels