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Comments (38)

Jun 11, 2016 - 10:02pm

Typically 5 buckets, with top 10% or fewer getting top, another 10% or so getting 2nd, the vast majority getting middle (60-70%) and most of the remainder getting 4th. The last bucket (maybe $5-10k) is reserved for a few people that they want to send a clear message to. These are across the whole bank and certain groups that had really good or bad years may be allocated additional / fewer top / bottom bucket slots

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Nov 5, 2016 - 3:55pm
Slash-Finance:

Typically 5 buckets, with top 10% or fewer getting top, another 10% or so getting 2nd, the vast majority getting middle (60-70%) and most of the remainder getting 4th. The last bucket (maybe $5-10k) is reserved for a few people that they want to send a clear message to. These are across the whole bank and certain groups that had really good or bad years may be allocated additional / fewer top / bottom bucket slots

Not me, but looking through the threads on first year bonuses.

If someone was in the last bucket and they didn't like the message, is there still time to turn it around and have a career with the company? Or have they already written you off and you should jump asap?

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Nov 6, 2016 - 12:25pm

The specifics depend on the bank. However, they all have the same idea: there are top performers (10%), above average/average/below average (80% altogether) and the bottom ranked guys (10%). If times are tough, they let go of the bottom 10%.
Getting into the top bucket depends largely on quickly you can impress the right people to get on the right deals.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

Nov 6, 2016 - 1:09pm

The underappreciated element is that making top bucket requires more work, let's say 10 hours a week on average. Multiplied by 50 weeks that's an extra 500 hours. All to have a chance (not guaranteed) of making an extra $10k or $5k after taxes. So you're working for $10 an hour.

So looking for top bucket just for monetary reasons never made sense to me. If your senior guys are willing to go to bat for the best performers maybe that changes the equation.

Best Response
Nov 9, 2016 - 9:05am

I have to disagree here, it's less how hard you worked, everyone is expected to be working their a* off, if you don't you go straight to the bottom bucket. The MD/Ds also don't care/know how much hours you're putting in each week, it's a lot more about your visibility on the platform across the senior guys (or at least that's the case at my BB)

If you work extra hard for 1 director (say your coverage boss), you'll get ranked lower than if you showed you did a good job for 3 or 4 senior guys. At the year end review, the Ds/MDs gather round and go through the list of analysts, if only your direct D says you've done a great job, you'll be average, maybe above average. If your D says you've one a great job AND 3 other D/MD confirm and say how you're a great guy as well, you'll be at the top.

I kept my head down the first year and worked extra hard for my D and got ranked average (nearly quit, I knew I was working much harder than the average). Following year I worked less hard, sucked a bunch Ds and got ranked top

Gotta love sucking those Ds

Nov 9, 2016 - 4:31pm

Goldman Buckets (Originally Posted: 01/27/2009)

Does anyone know how many buckets there were at Goldman historically for analysts. I've heard that the last cycle had fewer buckets. I believe there used to be four or five buckets for reviews and six or seven buckets for comp. If anyone knows specifically and the rough percentages for each, that would be appreciated. I remember this was always a very black box at GS (even compared with other firms), so I always had to figure out my rank through recruiters.

Nov 9, 2016 - 4:33pm

remember only top 5-10% of kids are top bucket.... (Originally Posted: 07/11/2009)

At my bank theres a 1-5 scale.

only the top 5-10% get top bucket, and the next 10-20% get the next bucket. Almost everyone is a 3 or 4. So even if banks that are doing poorly look crazy because some people are getting 50k bonus, remember a vast majority are getting a much much lower bonus. Furthermore, there's been a lot more pressure to not give out 1 in groups that aren't the best performing, and there's rumors a lot of banks pushed people who would be 1 or 2's down to 2 and 3's so they could pay them less/be able to fire them if things get worse.

Nov 9, 2016 - 4:35pm

How do buckets work? (Originally Posted: 10/31/2010)

I often here, top/middle/bottom bucket.

Are buckets sorted by groups or individuals themselves? Say within a bank, could M&A be a top bucket at DCM/ECM be a bottom bucket? Or are high preforming individuals reviewed and considered top bucket and lower preforming individuals bottom bucket within the same team.

Any insight is appreciated.

Nov 9, 2016 - 4:39pm

I'm fairly certain it's against the law for HR to release any information other than the dates you started and left. This could possibly vary by state, but I'm sure it's somehow a federal thing.

Anyways, that doesn't stop the person on the other end of the phone from dropping hints. I knew a lady in HR at a job I had in college and that is what she told me...however, she did say that she would 'help' out the people that called and would basically say one of two things...one being, "Oh, Tina XYZ, we miss her so much, I wish she still worked here...let me get those employment dates for you" or the second being, "Oh, Tom Johnson? Let me get those dates for you" and then she would audible laugh. Technically she didn't say anything she wasn't allowed to but conveyed what type of person they were.

This most likely doesn't apply to you because there would likely have to be a real conversation to explain what bucket you fell in, but I wouldn't put it past a headhunter, that knew an HR person, to get the info.

At any rate, as mentioned above, you are likely going to answer that question for the headhunter. He will either directly ask you or ask how much you made, from which he can probably deduce what bucket you were in.

If you are looking to lie about it, I would say NOT to do it.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
Nov 9, 2016 - 4:40pm

Analyst Rankings - Any insight? (Originally Posted: 04/02/2007)

When determining whether or not an analyst lands in the "top" bucket, are they compared against all of the other analysts or only the analysts in their class? I would imagine that 2nd years would have a considerable advantage over 1st years making it very difficult to get top bucket your first year. If they are separated, what happens to 3rd years?

Any insight?

Thanks guys.

CompBanker

Nov 9, 2016 - 4:49pm
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