Poaching candidates, negotiation, above-street compensation for new analysts

Heard a rumor that a junior from my college (top target) received an internship offer from a BB (for S&T in NY). What makes this story different is that he/she was offered a guaranteed full-time spot, and along with that an FT salary of roughly ~2x regular compensation (i.e. base of $150k, with potential for the usual bonus). Apparently, the head of the S&T/Markets division personally called this person to give them the offer.

Is it possible any of this is true? I know the student in question is very smart, hardworking etc., and they had interned at a similarly reputable firm their sophomore summer. But a guaranteed FT spot, and 2x the salary?

Does this happen with other top candidates as well? Are kids who interned at GS after junior year offered additional compensation to jump to, say, JP Morgan, or maybe a boutique like Lazard? Do Consulting or Tech firms dangle extra cash in front of possible switchers? Do these in-demand kids have the ability to negotiate - if not for compensation, then maybe group placement etc.?

P.S. Not sure if the kid is going to a prop desk; could that be the reason for the extra money?

Start Discussion

Popular Content See all

IB Sucks. I'm out
+163IBby 1st Year Analyst in Investment Banking - Generalist">Analyst 1 in IB - Gen
IB is not intellectually challenging
+65IBby Intern in Investment Banking - Mergers and Acquisitions">Intern in IB-M&A
Janet Yellen - Unrealized Capital Gains Tax. WTF
+29OFFby 1st Year Analyst in Investment Banking - Generalist">Analyst 1 in IB - Gen
VP Lying
+28IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A

Total Avg Compensation

January 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (31) $349
  • Associates (141) $232
  • 2nd Year Analyst (89) $151
  • 3rd+ Year Analyst (19) $150
  • Intern/Summer Associate (91) $144
  • 1st Year Analyst (352) $132
  • Intern/Summer Analyst (300) $82

Leaderboard See all

1
LonLonMilk's picture
LonLonMilk
98.5
2
Jamoldo's picture
Jamoldo
98.4
3
Secyh62's picture
Secyh62
98.3
4
CompBanker's picture
CompBanker
97.9
5
redever's picture
redever
97.8
6
frgna's picture
frgna
97.6
7
Addinator's picture
Addinator
97.6
8
bolo up's picture
bolo up
97.5
9
Edifice's picture
Edifice
97.5
10
NuckFuts's picture
NuckFuts
97.5