Salary - Analyst programme
Am I earning enough.
I have started an Analyst programme my starting salary is £30k+ thats about $50k. I don't think i will get a bonus this year but wil be awarded a pay increase.
The hierachy in my firm is Associate, Associate, Assistant Director Director, Director and the Executives.
Base salaries are as follows + Bonus
Analyst £30K
Associate 35-45K
Associate Director 55-60K
Assistant Director 70-80k
Director 100-120K
Are these the type of salaries to expect. Everyone goes on about how high salaries are in banking, but these dont seem like anything spectacular.
I can expect to be a Director by early thirties, so where are all these salaries of millions I hear about.
ever heard of this thing called "bonus"? on a good year, at good spots, they can be in multiple of years. thence u see where the millions can come. it aint easy and takes time of course..
I'm an analyst and getting £45k ($90k) and will get a bonus next time around. I know that this is also the same sort of level at other banks in the UK.
Because of the weak dollar, it's a good time to be anywhere but the U.S. as far as IB salaries for analysts. Then again, it doesn't really matter because many analysts are getting bonuses of around $80,000 on top of $60,000 base, on top of $10,000 signing bonus. So $150,000 right out of college isn't bad when your peers are pulling in $30,000 to $60,000 in everything from fashion to engineering.
No bonus? No, you're not earning enough. Something is wrong with your situation. Any more details?
Your base is low for London and you're not getting a bonus. I'd look around for something better.
yeah i agree. your base is low - almost all the london 1st years i know are going to be getting £37k + 5k signing on bonus. end of year bonus for ibd was 90%+ of basic salary last year for decent performers.
the bonus, esp for senior bankers, is where most of the money in this industry is made. i've never heard of a bank that didn't give out bonuses, what kind of shop do you work for?
Ok, so what is the best way should I wait a year get experience then move or look straight away.
I dont know why they wont give new analysts a bonus, but I know even if they do it will be minimal. If I want a junior trader role at another bank how much exprience will they require and what is the minum base salary I should be looking for.
Something is not quite right here. Any additional details you can give us will allow us to give better advice regarding your situation.
1st year associates are getting around 60 GBP in London at the Bulge Brackets.
And that no bonus thing is unheard of.
Either you are a not a major bank, not in Investment Banking/S&T, or you are getting the shaft.
do you work in IB or Real Estate?
Must be getting the shaft then. I am not a at a major bank but it is good enough. I am on a nalyst scheme front office rotations. You think I should move on. is it easy to get a job elsewhere with a years experience. I asked a few recruitmrnt consultants who say it will be difficult. Should I complete the anlyst programme and ask for an associate role elsewhere.
How much should I be looking for at my level. The guidelines of salaries I gave above, are they too low
Mind telling us what firm this is? Honestly, not paying a bonus is absolutely unheard of. The senior guys must be absolute losers, else they'd be at a firm that pays the street.
I don't mind saying who but there are not many grads there on the role I am in and I am sure others read this forum. So how shall i get into another bank. I really want to leave if am not being paid my worth.
Dont get me wrong others get bonuses else would leave just those on the analyst programme dont. So whats my best approach. Will other firms hire me or do i need to go through an analyst recruitment drive which is finished for this year and may not be the best course of action.
Will other firms take me for an associate role in one years time as am from banking or do I need an MBA.
random-
You should seriously consider another job -- I am a recruiter at a BB in London, so there is some credibility in what I tell you. It is indeed HIGHLY unusual for major banks to not pay analysts ANY bonus in addition to a fairly low base. And even the base salaries of the more senior people in your firm are not at all impressive. So, just from seeing these numbers, I would definitively conclude that you are not being paid your worth. BUT do consider that money isn't everything: if you really like your team/work, don't just leave because of the money. However, if you are motivated primarily by money, then, well, get the hell out of there!
be patient Random. you have the great opportunity of being in a FO rotation scheme: make the most out of it. We started in similar positions, but now the money is slowly coming in, in tandem with quite a bit of experience and, i like to think, results. try to find a mentor also and, as important, something you are passionte about. for me it was derivatives on rates. before them i was also kind of lost..
I would like tyo move to another firm, but do I have enough experience, what should be my approach. Complete the analyst programme or look to leave straight away.
Are you working as a banker or are you on a rotational program. Ive heard of programs like that where you do a few months in IB, a few in S&T, maybe even a few in wealth managment, and because your not part of any pool, you don't really get a bonus. Is this your situation?
One question....are you in Investment Banking....or plain banking??
I am in investment banking for a well know European bank. I am not in invetment banking but in financial markets. My rotations will be trading, sales, research, structuring or some other related fields to front office roles. We have a Investment Banking divison also. But I am not on that scheme, as my desire is to be a trader.
WTF? you're not getting a bonus? Are you sure you're working in investment banking and not just at an investment bank?
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